KUALA LUMPUR: Companies which could see trading interest on Monday include Serba Dinamik, IOI Corp, HB Global, MAHB, MyEG, Boustead and Yinson following their recent corporate news, says JF Apex Research.
In its daily highlights on Monday, it noted five independent and non-executive directors of Serba Dinamik have resigned from the board, with four of them citing differences in opinion with the company over the decision to take legal action against KPMG PLT, its external auditor who has since resigned following the lawsuit.
As for IOI Corp, it has taken note of the US Customs and Border Protection's (CBP) letter to migrant worker rights specialist Andy Hall to whom the agency indicated that it had acknowledged the receipt of a petition providing information on alleged forced labour at oil palm plantation company IOI Corp's operations in Malaysia.
HB Global said it has received its shareholders' approval for the proposed acquisition of a 60% stake in 5G infrastructure firm Forward Resources and Construction Sdn Bhd worth RM66mil. The group also said its shareholders have approved the proposed diversification into construction and engineering solution services which offer a new revenue and income stream for the group and provide a sustainable long-term earnings growth potential.
MAHB said it will need to confirm with the government on the approval to implement its RM1.3bil Subang Airport Regeneration Plan, as the matter is not specifically stated in the statements issued by the Finance and Transport Ministries.
MYEG is ready to supply an initial 10 million doses of Covid-19 vaccines as soon as the Government opens up private market vaccinations, the group said after inking a letter of intent with Anhui Zhifei Biopharmaceutical Co Ltd (Zhifei) for the vaccines.
Yinson’s 1QFY22 net profit more than doubled to RM112mil from RM47mil a year ago, mainly on contribution from its engineering, procurement, construction, installation and commission (EPCIC) business activities.
MyNews' 2QFY22 net loss widened further to RM10.32mil due to the ongoing Covid-19 impact, compared with RM8.94mil in the preceding quarter. On a y-o-y basis, the convenience store chain operator’s net loss was substantially wider than the RM2.33mil reported a year ago.
Boustead Holdings said it will continue with its initiative to reduce borrowings to an “optimal level” by selling non-strategic assets and monetising property inventories. It also said it would be “reprofiling and rebalancing its funding structure with financial institutions” and seeking to strengthen its financial position and increase the group’s value.
Hai-O registered a net profit of RM8.2m during 4QFY21, which tumbled 20.4% on-quarter and 17.2% on-year.