RHB Bank, Genting Malaysia, TH Heavy Engineering, Woodlandor, ES Ceramics, Jerasia Capital, TAFI Industries, CTOS Digital

KUALA LUMPUR (Jan 21): Based on corporate announcements and news flow on Friday, companies that may be in focus on Monday (Jan 24) include RHB Bank Bhd, Genting Malaysia Bhd, TH Heavy Engineering Bhd, Woodlandor Holdings Bhd, ES Ceramics Technology Bhd, Jerasia Capital Bhd, TAFI Industries Bhd, and CTOS Digital Bhd.

RHB Bank Bhd has announced that its group managing director and group chief executive officer (CEO) Datuk Khairussaleh Ramli will be taking a leave of absence effective next Monday (Jan 24). The announcement comes at a time when Khairussaleh’s former employer Malayan Banking Bhd is looking for a successor for its current group president and CEO Datuk Seri Abdul Farid Alias, who will step down on Aug 1. RHB Bank said Mohd Rashid Mohamad will be appointed as the officer-in-charge/principal officer effective Jan 24, in Khairussaleh’s absence.

Genting Malaysia Bhd (GENM) said “preparations are underway” for the opening of the Genting SkyWorlds outdoor theme park at Resorts World Genting (RWG), a key growth initiative for the casino and hotel in Malaysia and that the health and safety of guests, employees and the community remain key priorities amid lingering Covid-19 pandemic concerns. In GENM’s latest corporate presentation, the group said RWG had reopened to positive response since Sept 30, 2021.

TH Heavy Engineering Bhd will explore opportunities in the renewable energy (RE) sector with an injection of RE assets mainly comprising hydropower plant developments from OHP Ventures Sdn Bhd after signing a memorandum of understanding (MoU) with the latter. The Urusharta Jamaah Sdn Bhd subsidiary said the MoU is part of “an exercise to build capacity and capability by having new streams of assets to strengthen its financial footing via the diversification of its revenue stream”.

Loss-making Woodlandor Holdings Bhd has been slapped with an unusual market activity query by Bursa Malaysia on the sharp rise in its share price and volume on Friday (Jan 21). Shares in Woodlandor hit limit up and soared 35 sen or 29.66% to RM1.53, making it the second top gainer in the local bourse. At RM1.53, the stock is valued at RM61.2 million. Its trading volume soared to a record high of 11.25 million shares, representing 28% of its issued share capital of 40 million.

Ceramic glove mould maker ES Ceramics Technology Bhd ‘s net profit for its second quarter of financial year 2022 (2QFY22) ended Nov 30, 2021 soared 252% year-on-year to RM14.14 million from RM4.01 million a year prior, amid higher revenue and improved production activities. ES Ceramics’ quarterly revenue leapt 117% to RM33.85 million from RM15.59 million in the previous year while its earnings per share jumped correspondingly to 2.8 sen from 0.87 sen, according to its financial results released on Friday (Jan 21). However, ES Ceramics did not declare a dividend for the quarter.

Apparel manufacturer Jerasia Capital Bhd (JCB) said its subsidiary has defaulted on its repayment of principal and interest in financing facilities worth RM26.39 million. JCB said that it is the corporate guarantor for the financing facilities granted by RHB Bank Bhd. Its wholly-owned subsidiary Canteran Apparel Sdn Bhd defaulted on its payment on Friday, according to JCB.

TAFI Industries Bhd announced that it has received approval for the proposed two-for-one bonus issue of 252.95 million new ordinary shares in the company. The furniture maker has also received approval for the proposed bonus issue of warrants on the basis of one warrant for every two existing TAFI shares held on the entitlement date. In addition, the company received approval for the proposed new shareholders’ mandate for recurrent related party transactions of a revenue or trading nature.

CTOS Digital Bhd saw its net profit for 4QFY21 ended Dec 31, 2021 fall slightly by 8.62% to RM11.78 million from RM12.89 million in the previous year due to higher administrative expenses. The credit reporting agency said its quarterly revenue grew 12.5% to RM38.79 million against RM34.47 million in the same period in the previous year as Bank Negara Malaysia allowed free access to its Central Credit Reference Information System (CCRIS) database. Meanwhile, the group also declared its third interim dividend of 0.33 sen per share, to be paid on Feb 25, 2022.

Kathy Fong