Luster Industries, Aimflex, Opcom, TM, Maybank, Greatech Technology, Haily, EcoFirst Consolidated, Aurelius Technologies, Guocoland and AirAsia

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Luster Industries, Aimflex, Opcom, TM, Maybank, Greatech Technology, Haily, EcoFirst Consolidated, Aurelius Technologies, Guocoland and AirAsia
© Provided by The Edge

KUALA LUMPUR (Jan 24): Based on corporate announcements and news flow on Monday (Jan 24), companies that may be in focus on Tuesday (Jan 25) include Luster Industries Bhd, Aimflex Bhd, Opcom Holdings Bhd, Telekom Malaysia Bhd, Malayan Banking Bhd, Greatech Technology Bhd, Haily Group Bhd, EcoFirst Consolidated Bhd, Aurelius Technologies Bhd, Guocoland (Malaysia) Bhd and AirAsia Group Bhd.

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Luster Industries Bhd, which is principally involved in the manufacturing of plastic parts and components and machining of metal parts, is acquiring 100 million shares representing an 8.169% stake in ACE Market-listed Aimflex Bhd for a total consideration of RM22 million or 22 sen per share. Luster said the company entered into a form for transfer of securities last Friday (Jan 21) with Aimflex executive chairman and shareholder Datuk Awang Daud Awang Putera.

Opcom Holdings Bhd’s subsidiary Opcom Cables Sdn Bhd has secured an award worth RM26.51 million from Telekom Malaysia Bhd (TM) to supply fibre optic cables for the telco from Dec 23, 2021 until Dec 31, 2023. The award is expected to contribute positively towards its earnings and net assets for the period of the contract.

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Malayan Banking Bhd (Maybank) has dismissed allegations that it will face major financial trouble on exposure to Genting Hong Kong Ltd as “baseless”. Maybank added that it has a rigorous asset quality monitoring process, whereby vulnerable borrowers are identified and managed accordingly from the onset of any potential asset quality weakness.

Greatech Technology Bhd said it has secured new orders for production line systems worth RM160 million, mainly from a “customer” from the solar industry. Greatech did not provide details on the identity of the customer. The factory automation solutions provider said the new orders are expected to last the group until the second quarter of 2023.

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Building contractor Haily Group Bhd has won a RM41.28 million contract to build resort villas in Iskandar Puteri, Johor. Haily said its wholly-owned Haily Construction Sdn Bhd has accepted the letter of award for the new job from DP Architects Sdn Bhd on behalf of Country View Bhd’s unit Country View Resources Sdn Bhd to build phase one of a tourist strata development located in Aurora Sentral, Pulai. Haily said the project comprises 121 units of double-storey linked villas, one Tenaga Nasional Bhd substation and one refuse chamber.

Signature International Bhd’s co-founder Datuk Michael Chooi Yoey Sun has emerged as a substantial shareholder of EcoFirst Consolidated Bhd, confirming The Edge’s report in its Jan 17-23 edition. Chooi, who is also a major shareholder of Scanwolf Bhd, has acquired 20 million EcoFirst’s shares or 1.72% direct stake from the open market in the last two weeks. He then further acquired another 40 million shares or 3.44% indirect stake via an off-market transaction through Wawasan Fokus Sdn Bhd. In total, Chooi has a 5.16% stake in the property company.

Aurelius Technologies Bhd announced the demise of its group chief executive officer and independent director Lee Chong Yeow @ Lee Chong Yan on Monday (Jan 24). The electronics manufacturing services company said the board expressed its deepest condolences to his family and highlighted that the 77-year-old Lee, fondly known as CY, had led the organisation with great passion and dedication.

Guocoland (Malaysia) Bhd reported a net profit of RM3.76 million for the second quarter ended Dec 31, 2021 (2QFY22) versus a net loss of RM11.37 million a year earlier on higher contributions from the property development division and lower loss incurred by the hospitality division. The property development arm of the Hong Leong Group posted earnings per share of 0.56 sen compared with earnings per loss of 1.7 sen previously. The developer’s revenue also rose 15.59% to RM105.56 million from RM91.32 million.

Raya Airways Sdn Bhd now denies that AirAsia Group Bhd has approached its shareholder Datuk Ishak Ismail wanting to take over the air cargo carrier. The denial, however, comes after Raya Airways told The Edge that it “will refrain from commenting, given the speculative nature of the questions” when the publication asked about the matter last week. Raya Airways did not then outrightly deny when The Edge contacted the carrier for comments on the acquisition talks.

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