Bursa highlights on Feb 15
In June, Mah Sing Group’s convertible secured bonds can be redeemed in full or in part into shares representing up to 11.5% of its current paid-up capital. With the bonds currently in the money, it has decided to buy back all those that have not been converted for RM337.1mil. Read more
PVC-related flooring and packaging product maker Tek Seng Holdings Bhd’s net profit last year surged 76.1% to RM21.27mil, thanks largely to the strong sales volume of photovoltaic products in the final quarter. The solar segment’s pre-tax profit surged by RM14.3mil to RM11.5mil during the fourth quarter from a year earlier. Read more
Plastic product manufacturer BP Plastics Holding Bhd, which on Monday announced a 119% jump in profit for the financial year ended Dec 31, 2015, has adopted a dividend policy of distributing minimum 40% of the consolidated profit after tax and non-controlling interests starting this financial year. This is provided that the distribution is not be detrimental to the company after taking into account its capital requirements and working capital needs.
Abu Dhabi-based energy firm Emirates International Energy Services (Emas) has made a request for arbitration against Sime Darby Bhd’s unit, Sime Darby Engineering Sdn Bhd. Last year, the Abu Dhabi Court of Appeal and Court of Cassation reversed an earlier court decision to award Emas 41.046 million dirhams (RM46.37mil) in a case that stretched back to 2011. Read more
Pharmaceutical firm Pharmaniaga Bhd posted a 10.44% drop in net profit to RM84.04mil for the financial year ended Dec 31, 2015 mainly due to reduced Government orders and amortisation for the pharmacy information system. Its earnings for the fourth quarter fell by more than half to RM16.06mil from a year earlier.
Kejuruteraan Samudra Timur Bhd has clinched a two-year contract to provide oil country tubular goods (oil pipes/tubes) inspection services for Swedish independent oil and gas company Lundin BV’s unit Lundin Malaysia. Lundin Malaysia operates PM307’s Bertam field, offshore Pahang, and recently started drilling offshore East Malaysia. Read more
TSR Capital Bhd’s unit has clinched a RM240mil contract to build condominiums and car parks in Putrajaya from Putrajaya Homes Sdn Bhd. Read more
The newly opened Shah Alam Hospital will be provided engineering, cleaning and maintenance services by AWC Bhd under a RM90mil contract. This latest five-year deal expands AWC’s facilities management services business in the healthcare sector which also includes maintaining the Cheras Rehabilitation Hospital and all state government clinics in Johor. Read more
AirAsia X Bhd, the long-haul airline affiliate of the AirAsia group, carried 14.6% fewer passengers last year. This was in contrast to the 11.2% growth posted by the AirAsiagroup. (from a media statement) Read more
TAGS / KEYWORDS:Corporate News , Bursa highlights