LTKM, Parlo, Country Heights, F&N, Frontken, MyEG, Prestariang, Scomi and MAHB

KUALA LUMPUR (Nov 3): Based on corporate announcements and news flow today, stocks that may be in focus tomorrow (Nov 4) include: LTKM Bhd, Parlo Bhd, Country Heights Holdings Bhd, Fraser & Neave Holdings Bhd (F&N), Frontken Corp Bhd, My EG Services Bhd (MyEG), Prestariang Bhd, Scomi Group Bhd and Malaysia Airports Holdings Bhd (MAHB).

LTKM Bhd’s subsidiary LTK (Melaka) Sdn Bhd has been found guilty of raising the margins of its egg prices under the Price Control and Anti-Profiteering Act. It has been fined RM25,000 and also ordered to pay RM9,600 to repurchase 30,000 eggs confiscated by the government.

Parlo Bhdis to raise RM25.84 million via a private placement of 72.8 million shares (20% of its total issued shares) to third party investors. Some RM12 million of the proceeds will be used to invest in its migrant workforce-related services business. Another RM7.06 million will be used to repay bank borrowing, and RM5.93 million for working capital.

Country Heights Holdings Bhd’s 26-year-old joint venture (JV) with the Sarawak Land Custody and Development Authority (LCDA) has been terminated over claims that the former had failed to address contract breaches. The JV is over a hill resort and is a 70:30 split between Country Heights and the LCDA. Country Heights plans to content the termination, as it views it was not done according to the JV agreement. It is launching arbitration proceedings against the LCDA.

Fraser & Neave Holdings Bhd(F&N)’s net profit for the fourth-quarter ended Sept 30, 2020 grew 26.41% y-o-y to RM85.99 million, from RM69.88 million a year earlier, on cost controls on overheads and lower advertising and promotion spending, and an RM7.8 million gain on disposal for its “Teapot’ trademark. Revenue fell 2.19% to RM953.7 million, from RM975.09 million. The group has recommended a final dividend of 33 sen per share. Full-year net profit was flat at RM410.38 million, from RM410.26 million in FY19. Revenue was down 2.17% to RM3.99 billion, from RM4.08 billion.

Frontken Corp Bhd’s net profit for the third quarter ended Sept 30, 2020 rose 12.03% to RM21.34 million, from RM19.05 million a yearr earlier, on higher revenue and better profit margin — the best ever quarterly performance it has seen. Revenue grew 8.89% to RM94.79 million from RM87.05 million, due to growth from its Taiwanese and Philippine subsidiary. For the nine-month period, net profit increased 15.12% to RM58.68 million from RM50.97 million a year ago, while revenue for the period rose 6.48% to RM267.28 million from RM251.02 million.

My EG Services Bhd(MyEG) launched it MySafeTravel digital health pass system for inbound travellers amid the Covid-19 pandemic. It is designed and operated by MyEG fo the Ministry of Health and has been online since Nov 1. It is an online channel for inbound travellers to register and pay for mandatory Covid-19 swab tests and to choose their preferred location for quarantine stay, prior to arrival.

Prestariang Bhd’s wholly-owned subsidiary Prestariang Systems Sdn Bhd (PSSB) has bagged an RM50 million contract from Mentor Besar Selangor (Pemerbadanan) (MBI) to develop and implement the Selangor Kerjaya programme. The three-year contract, which started on Nov 1, will see Prestariang providing skills training and job placement for 10,000 Malaysians who reside in Selangor or have graduated from learning institutions in the state. It will also provide the Selangor government with analytics and intelligence that will improve employment opportunities for its residents in future.

Scomi Group Bhdwill see its share suspended from next Monday, if it does not issue its annual report for the financial year ended June 30, 2020. The bourse said Scomi had failed to give its annual report, incorporating annual audited financial statements and auditors and directors reports, for public release by Oct 30.

Malaysia Airports Holdings Bhd(MAHB) and Alibaba Group’s Cainiao Aeropolis eWTP Hub has commenced operations. The hub, formerly known as the KLIA Aeropolis DFTZ Park, is a major project under the Electronic World Trade Platform (eWTP) partnership between the Malaysian government and Alibaba in 2017. It is expected to facilitate 24-hour delivery within Malaysia for e-commerce operators, with the ultimate goal of enabling 72-hour delivery to the rest of the world.