Sime Darby, AME, Uzma, Sarawak Oil Palms, Berjaya Corp, Bermaz Auto, Samaiden, UWC, UEM Sunrise, EcoWorld

KUALA LUMPUR (Dec 1): Based on today’s company announcements and news flow, stocks that could attract interest on Wednesday (Dec 2) include Sime Darby Bhd, AME Elite Consortium Bhd, Uzma Bhd, Sarawak Oil Palms Bhd, Berjaya Corp Bhd, Bermaz Auto Bhd, Samaiden Group Bhd, UWC Bhd, UEM Sunrise Bhd and Eco World Development Group Bhd.

Sime Darby Bhd sells its entire stake in three joint venture companies operating three river ports in Jining, Shandong Province, China for a net amount of 293.9 million yuan (RM181.6 million) to be realized over a three-year period.

Sime Darby announced that its wholly owned indirect subsidiary Sime Darby Overseas (HK) Ltd had entered into share transfer agreements (Phase 1 ETAs) with Jining Port and Shipping Development Group Co Ltd to sell its full 70% stake in Jining Sime Darby Port Co Ltd punches, Jining Sime Darby Loggong Port Co Ltd and Jining Sime Darby Taiping Port Co Ltd.

Datuk Jeffri Salim Davidson, chief executive officer of the Sime Darby group, said the agreements entered into by the conglomerate allow for a staggered exit of its investment in the three Jining ports over a three-year period and are very well aligned. with its strategy to divest non-core assets.

AME Elite Consortium Bhd is in the process of establishing and listing a Real Estate Investment Fund (REIT) in the main market of Bursa, Malaysia.

AME said the REIT’s initial investment portfolio will include industrial properties currently owned by its subsidiaries. The exact properties injected into the investment portfolio will be identified later.

AME currently owns and manages industrial lease properties in its Johor business parks, namely i-Park @ SiLC, i-Park @ Indahpura, i-Park @ Senai Airport City and District 6.

The business parks are supported by worker dormitories namely i-Stay @ Indahpura and i-Stay @ Senai Airport City, which provide housing for the workers of clients.

Uzma BhdThe Setegap Ventures Petroleum Sdn Bhd unit has been awarded a one-year contract from SEA Hibiscus Sdn Bhd to provide integrated well services.

It said the contract award letter, dated Nov. 20, has been received, although it does not disclose the contract price.

The work order is part of a Pan Malaysia umbrella contract to provide integrated well intervention, repair and shutdown services for petroleum arrangement contractors.

Sarawak Oil Palms Bhd (SOPB) is planning to acquire two plots of land in Miri for RM11.5 million to build a headquarters building.

The related party transaction involves the group acquiring the assets of Chiong Ho Ling Sdn Bhd, Ling Chiong Pin and Ling Lu Siong.

Tan Sri Ling Chiong Ho is the Executive Chairman and Director of SOPB. He is also the brother of Chiong Pin and uncle of Lu Siong.

SOPB said it plans to build a corporate headquarters that will allow for the consolidation of the rented offices currently located in different locations.

A new company that is 51% owned by Berjaya Corp Bhd and 20% owned by Bermaz Auto Bhd has been granted exclusive rights to distribute new Peugeot vehicles in Malaysia.

The company, Berjaya Auto Alliance Sdn Bhd, has also acquired the rights for after sales services and the distribution of spare parts for Peugeot Citroën and DS vehicles.

Samaiden Group Bhd won the tender to develop a 1.2 megawatt biogas plant in Bachok, Kelantan – its second contract for the power plant for the month of November.

Samaiden said its 60% subsidiary SC Green Solutions Sdn Bhd had participated in a competitive e-bidding exercise for the project and submitted its bid to the Sustainable Energy Development Authority on June 9.

The group said the project is expected to be completed on November 17, 2023, which is the feed-in tariff’s scheduled start date, the date the project is expected to sell the generated electricity to the grid.

As of the effective date, SC Green will maintain the feed-in rate for 21 years at a rate of RM0.3963 / kWh.

UWC Bhd reported a nearly doubling of net profit in the first quarter from a year ago, driven by increased demand in both the semiconductor and life sciences businesses. It is also involved in the Covid-19 test equipment supply chain.

Net profit for the three months ended October 31, 2020 was RM21.71 million from RM 11.22 million a year ago, while sales increased 52.4% from RM46.91 million to RM71.5 million.

The bottom-line expansion was mainly driven by growth in the semiconductor and life science industries, which contributed 57.8% and 33.7% of total sales, respectively, according to UWC.

Compared to the previous quarter, the group’s net profit and sales both grew by 16.4% from RM18.65 million and RM61.41 million respectively.

The Securities Commission Malaysia (SC) has approved UEM Sunrise Bhd‘s request for an extension of the deadline to announce a firm intention to make a takeover offer in respect of the proposed merger with Eco World Development Group Bhd (EcoWorld).

The SC has now given UEM Sunrise until January 31 next year to make its announcement on the matter.

It added that the SC wants UEM Sunrise and EcoWorld to decide on January 2 whether to continue discussions regarding the proposed merger.

If both groups decide to continue the discussions, they should jointly apply for a final extension of time based on a timetable agreed by the Boards, as early as possible after January 2, but no later than January 15.

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