KUALA LUMPUR (July 22) : Based on corporate announcements and news flow today, companies in focus on Friday (July 23) may include ViTrox Corp Bhd, Ireka Corp Bhd, Hong Seng Consolidated Bhd, Tiong Nam Logistics Holdings Bhd, UOA Real Estate Investment Trust (UOA REIT), CapitaLand Malaysia Mall Trust (CMMT), Magni-Tech Industries Bhd and United Plantations Bhd.
ViTrox Corp Bhd‘s second quarter net profit more than doubled to a record RM50.64 million from RM22.92 million a year earlier, on the back of the semiconductor boom which saw heightened demand for its solutions. The commendable results came as ViTrox’s quarterly revenue more than doubled to RM196.19 million from RM96.55 million a year before.
Ireka Corp Bhd has proposed to undertake a private placement, involving 18.67 million shares which will be issued to third-party investors to be identified later at a yet-to-be determined issue price. Based on an illustrative issue price of 62 sen per placement share, the exercise is expected to raise RM11.58 million of which RM11.38 million will be used as working capital, such as staff costs and other operating costs.
Hong Seng Consolidated Bhd, whose share price hit another record high today, said its 51%-indirect unit has secured an RM112.32 million contract from the Ministry of Health to supply polymerase chain reaction (PCR) Covid-19 test kits to the Ministry. The PCR test kits will be supplied to the Institute for Medical Research and Public Health Laboratory Kota Kinabalu. The letter of award from MoH was received on July 22 by Pantasniaga Sdn Bhd, a 51%-owned unit of HS Bio Sdn Bhd, which is wholly owned by Hong Seng.
Tiong Nam Logistics Holdings Bhd will be issuing 5.2 million new shares in its loss-making unit Terminal Perintis Sdn Bhd (TPSB) to Create Fortune Enterprise Sdn Bhd (CFE) for RM36.7 million. Tiong Nam said it has entered into a shareholders agreement with CFE for the latter to subscribe to 5.2 million new shares of TPSB, which will result in the dilution of Tiong Nam’s equity interest in TPSB from 100% to 49%. The proceeds to be received from the subscription of shares will be utilised by TPSB for working capital and other financial obligations. CFE is a private firm in Malaysia involved in investment in landed properties and rental collection.
UOA Real Estate Investment Trust‘s (UOA REIT) rental income rose 98.18% to RM22.07 million in the April-June quarter from its low base of RM11.13 million in the same quarter last year at the height of the Movement Control Order. Quarter-on-quarter, however, the REIT’s rental income weakened 2.77% from RM22.69 million in the first quarter. On a year-on-year basis, quarterly gross rental income rose 80.49% to RM28.97 million from RM16.05 million, while total expenditure increased 57.8% to RM14.01 million from RM8.88 million, and about half or RM7.11 million is attributable to non-property operating expenses.
CapitaLand Malaysia Mall Trust‘s (CMMT) net property income (NPI) in the second quarter ended June 30, 2021 rose 36.5% to RM26.43 million from RM19.36 million a year earlier, on higher gross revenue and lower rental relief for eligible tenants. The real estate investment trust (REIT) has declared a distribution of RM10.6 million or 0.5 sen per unit for the quarter, bringing the total in the cumulative six months ended June 30, 2021 to 0.86 sen, from 1.01 sen in the same period last year. While CMMT’s gross rental income rose marginally by 0.7% to RM43.17 million from RM42.86 million, gross revenue saw a bigger gain of 5.7% to RM52.71 million from RM49.88 million thanks to a rebound in car park income.
Magni-Tech Industries Bhd said “a few” of the group’s garment production facilities in Vietnam have temporarily suspended operations from July 19, following a renewed lockdown in the country amid rising Covid-19 cases there. Operationally, Magni-Tech said it is expecting delays in its shipments of orders to a customer overseas due to the closures.
United Plantations Bhd‘s net profit for the second quarter ended June 30, 2021 rose 9.87% to RM135.79 million from RM123.59 million a year ago, supported by better plantation performance, while contribution from its refinery segment fell. Revenue in the quarter rose 63.72% to RM481.87 million from RM294.32 million, as both segments saw top line growth, led by the refinery segment. For the six-month period, United Plantations’ net profit rose 2.85% to RM210.61 million from RM204.78 million previously, again thanks to the plantation segment contribution, while the refinery segment was weighed down by losses in the first quarter