Serba Dinamik, FGV, PetChem, Country Heights, Ancom, NWP, Kim Loong Resources, SCGM, SMTrack

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KUALA LUMPUR (December 28): Based on Tuesday’s business announcements and news, businesses targeted on Wednesday (December 29) may include Serba Dinamik Holdings Bhd, FGV Holdings Bhd, Petronas Chemicals Group Bhd, Country Heights Holdings Bhd, Ancom Bhd, NWP Holdings Bhd, Kim Loong Resources Bhd, SCGM Bhd and SMTrack Bhd.

The Malaysian Securities Commission on Tuesday obtained an arrest warrant for Serba Dinamik Holdings Bhd Group CEO and Datuk CEO Dr Mohd Abdul Karim Abdullah, who is currently on the run. Earlier today, the regulator indicted group executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi and vice president of accounts and finance Muhammad Hafiz Othman for allegedly submitting a false statement to Bursa Malaysia Securities Bhd re RM 6.014 billion in revenue as reported in Serba Dinamik’s financial report for the quarter and fiscal year ended December 31, 2020.

Plantation group FGV Holdings Bhd will issue a total of RM 500 million of Islamic bonds or sukuk in the form of medium-term Islamic bonds in eight tranches on December 31. The eight sukuk tranches, which have durations of between one and eight years, will yield profit rates of between 4.47% and 5.63% per year.

Permodalan Nasional Bhd’s trust fund, Amanah Saham Bumiputera (ASB), ceased to be a significant shareholder of Petronas Chemicals Bhd Group (PetChem) after having sold 2.81 million shares of the group. A calculation done on the back of an envelope showed that the latest trade left ASB with 398.62 million PetChem shares, or just under 5%, in the group. According to Bloomberg data, ASB is the third largest shareholder in the group, behind its parent company Petroliam Nasional Bhd with a 64.35% stake and Employees Provident Fund with a 6.51% stake.

Country Heights Holdings Bhd (CHHB) signed a license agreement and collaboration agreement with Beijing Wodong Tianjun Information Technology Co Ltd (JD.com) as part of its digital transformation plan. He said the agreement aims to develop JD.com’s omnichannel business model using JD.com technologies and CHHB’s resources for the Malaysian market. With this collaboration, JDMines will build the first physical store of approximately 100,000 square feet of retail space on the ground floor of the Mines International Exhibition and Convention Center.

Agricultural and industrial chemical group Ancom Bhd diversifies into the manufacture of chemicals and animal health. The group has offered to acquire an 80% stake in Shennong Animal Health (Malaysia) Sdn Bhd and Vemedim Sdn Bhd (collectively known as Shennong Group) for a total of 23.92 million ringgit. The proposed acquisition comes with a profit guarantee of RM 4.6 million in after-tax profit per year for 2022 and 2023.

NWP Holdings Bhd has accepted letters of award from Pembinaan Bintang Baru Sdn Bhd appointing its 100% subsidiary NWP Construction Sdn Bhd as a subcontractor to undertake the supply and installation of aluminum formwork and coating works in the amount of 30, 4 million RM. He indicated that the works will be carried out for two development sites in Setia Alam, Selangor and in Kepong, Kuala Lumpur.

Kim Loong Resources BhdRM’s net profit for the third quarter ended October 31, 2021 increased 42.49% to RM 41.09 million from RM 28.84 million a year ago due to higher prices of crude palm oil. Revenue jumped 76.89% to RM 492.8 million from RM 278.6 million. Kim Loong has declared a special dividend of four seen per share, which will be paid on February 17th.

Food packaging manufacturer SCGM BhdRM’s net profit fell 18.6% to RM 7.83 million for its second quarter ended October 31, 2021, from RM 9.61 million a year earlier, due to higher prices for the resin. However, revenue rose 18.9% to RM 72.54 million from RM 61.01 million in the same quarter last year due to higher demand for its thermoformed food and beverage packaging. as well as a 24.1% increase in domestic sales to RM 49.21. million, and a 9.3% increase in export sales to RM 23.34 million. SCGM declared a second interim dividend of 1.7 sen per share payable on January 26, with an ex-date of January 11.

Specialist in radio frequency identification solutions SMTrack Bhd has entered into an autonomous aerial vehicle agreement with Strong Rich Holdings Ltd to purchase an AAV EHang 216 (EH216) valued at US $ 2.5 million (RM 10.46 million). The rationale for the acquisition is to establish a business integration with Strong Rich to improve SMTrack’s revenues. SMTrack said the acquisition will be funded by the proceeds of the issuance of convertible redeemable notes and a private placement.


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