Bursa highlights logo for Star Online (Business).
Bursa highlights on May 3
* Felda Global Ventures Holdings Bhd, the world’s third largest oil palm estate operator, has voluntarily withdrawn the sustainable palm oil certificates of 58 upstream mills in order to iron out sustainability issues in its supply chain. FGV targets to recertify its mills in stages within three years. The Felda group remains a member of the Roundtable on Sustainable Palm Oil scheme. Read more
* Malakoff Corp Bhd has hired Mass Rapid Transit Corp’s former chief executive officer and Tradewinds Corp’s current chairman Datuk Wira Azhar Abdul Hamid to be its group managing director effective May 1. Read more
* Press Metal Bhd, which makes aluminium and related products, more than doubled its earnings (up 119% year-on-year) to RM94.56mil in the first quarter ended March 31, 2016. Included in the pre-tax profit was the second interim insurance claim of RM50mil in relation to the fire incident occurred at its Samalaju Smelter in May 2015. Press Metal says the higher profit was also partly due to the boost in production output and fall in finance costs.
* Hibiscus Petroleum Bhd’s plan to acquire Australia-based oil and gas firm Hydra Energy Holdings Pty Ltd has fallen through because the conditions precedents in the binding equity transaction term sheet were not met before the April 30 deadline. Read more
* World’s top synthetic glove maker Hartalega Holdings Bhd’s net profit rose 12.3% to RM61.7mil in the fourth quarter ended March 31 from RM54.9mil a year ago, thanks to its production capacity expansion. Read more
* Kimlun Corp Bhd has clinched a RM165.8mil contract to build five blocks of Selangorku affordable apartments in Mukim Petaling, Selangor. Read more
* Johan Holdings, which owns and operates the two-decades-old Lumut International Yacht Club via a subsidiary, is winding up the club’s membership scheme that is originally set to expire in 2093, and will refund part of the fees paid. The club’s membership base has shrunk over the years to the point that the scheme is no longer viable today. Read more
* Ho Hup Construction Co Bhd has received a RM58mil sub-contract from Lotus Group associate Menuju Asas Sdn Bhd, the main contractor to the Public Works Department for the West Coast Expressway. Read more
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