DC Healthcare Holdings Bhd, an aesthetic medical services provider, is buying I Bella Sdn Bhd for RM70 million from Then Yen Tsing and Arrow Peak Sdn Bhd. Then and Arrow Peak have assured a minimum net profit of RM5.2 million and RM6.2 million, which totals up to RM11.4 million for the fiscal years ending 2024 and 2025, respectively. The purchase consideration will be partly funded by cash and shares in DC Healthcare. DC Healthcare will finance the RM35 million cash portion from its initial public offering proceeds in July this year and the group's internally generated funds and/or bank borrowings. (NST)

Kinergy Advancement Bhd (KAB) saw its net profit surging by nearly 19-fold to RM20.32 million for the third quarter (Q3) ended September 30, 2023 (FY23) against RM1.07 million posted in the same quarter last year, boosted by its sustainable energy solutions (SES) business. For the quarter, KAB benefited from increased energy tariffs, new revenue streams, and a gain from acquisition, which resulted in outstanding financial performance. KAB's SES segment for the quarter increased a whopping 254.8 per cent to RM12.88 million from RM3.63 million registered in Q3 FY22. For Q3 FY23, KAB recorded higher revenue of RM48.62 million, compared to RM48.30 million in Q3 FY22. (NST)

Kumpulan Perangsang Selangor (KPS) Bhd will supply various water treatment chemicals to Pengurusan Air Selangor Sdn Bhd for two years, effective January 1, 2024, with an estimated contract sum of RM162.181 million. KPS told the stock exchange today that its 51 percent-owned subsidiary, Aqua-Flo Sdn Bhd (AFSB), entered into a framework agreement (FA) with Air Selangor on November 21, 2023. The commencement and duration of the supply will be for a period of two years, starting from January 1, 2024, until December 31, 2025. (TheStar)

Star Media Group Bhd (SMG) posted a small rise in revenue for the third quarter of its 2023 financial year (3Q23) as it continues to sustain its revenue and overall financial performance, while remaining financially prudent. The group said in a filing with Bursa Malaysia on its 3Q23 financial results that market conditions continue to be challenging, resulting in the contraction in industry revenue. It said the group would continue with its prudent management strategy while focusing on revenue enhancement initiatives and operational efficiency improvements. (TheStar)

Tenaga Nasional Bhd (TNB) is on track to rebrand and transform the Malaysia Green Attribute Trading System (mGATS) into the country’s leading digital marketplace for Renewable Energy Certificates (mREC), with the rebranded mGATS set to launch in the first quarter (1Q) of 2024. In a statement today, TNB said the Ministry of Natural Resources, Environment, and Climate Change and TNB’s unit, TNBX Sdn Bhd, collaborated to upgrade mGATS, responding to the surging demand for green electricity, particularly from multinational corporations and organisations. (TheStar)

Kerjaya Prospek Group Bhd will continue to bank on its construction segment to be its main revenue driver, underpinned by a RM4.7bil outstanding order book (as at end-Sept 2023) for construction contracts. The group said while it has plans to expand its construction business, its manufacturing semgent will complement its core business while the property development segment has plans to launch another project in the first quarter of 2024 following the launching of The Vue @ Monterez. (TheStar)

Non-Bumi units at Mah Sing Group Bhd’s M Minori Tower A have been fully taken up since its launch on Oct 14, the group announced during the launch of M Minori’s sales gallery on Sunday in Taman Austin Perdana, Johor Bahru. M Minori is Mah Sing’s inaugural M Series development in the southern region. With a gross development value (GDV) of RM176 million, the 25-storey Tower A offers 421 units — 252 of which are non-Bumi units — with built-ups ranging from 570 sq ft to 880 sq ft, with a selling price from RM288,000. (TheEdge)

Lagenda Properties Bhd has recorded a net profit of RM38.77 million for the third quarter ended Sept 30, 2023 (3QFY2023), up 8.5% from RM35.73 million a year ago, mainly due to contribution from the property development segment as sales conversion improved. Quarterly revenue rose 20.6% to RM217.89 million from RM180.72 million in 3QFY22, attributed to heightened construction activities and sales conversion from various projects, most notably Lagenda Teluk Intan 3A & 3B in Perak, and Darulaman Lagenda in Kedah, according to the group's filing with Bursa Malaysia on Monday. (TheEdge)

Ecobuilt Holdings Bhd said it is not proceeding with its plan to build a 24-storey police office building in Kuala Lumpur jointly with another company, after it was unable to comply with the terms of the deal within the stipulated period. In a filing on Monday, Ecobuilt said its wholly-owned subsidiary Eko Bina Sdn Bhd (EBSB) has received a notice of termination of the RM148.04 million project from the joint-venture partner TJ Civil & Structural Contractor Sdn Bhd (TJCS). (TheEdge)

G Capital Bhd has appointed former chief of defence forces General Tan Sri Affendi Buang as its executive chairman effective immediately. In a statement on Tuesday, the renewable energy (RE) solution provider said the appointment of Affendi, 61, is part of the group’s ongoing commitment to pioneering sustainable energy advancements. Affendi has served in the Malaysian Armed Forces (MAF) and the Royal Malaysian Air Force (RMAF) for over four decades; he was the country’s 18th Chief of Air Force and 21st Chief of Defence Force. (TheEdge)

MR D.I.Y Group (M) Bhd is on track to open up to 180 new stores this year, according to Hong Leong Investment Bank (HLIB) Research. "The progress of 180 target store openings for the fiscal year 2023 (FY 2023) is slightly behind, but management is confident that this will pick up in the fourth quarter of 2023 (4Q 2023)," the firm said in a note today. As of 3Q 2023, MR D.I.Y has opened 123 new stores, with the majority being MR D.I.Y outlets and only two being MR TOY outlets. This represents 68 per cent of its full-year target of 180 stores. The company expects the store openings to catch up in 4Q 2023 to fulfil the target of having 180 new stores for the whole of this year. (NST)

Kenanga research has cut its target price for Hap Seng Plantations Bhd (HSPlant) post nine months results, while maintaining its Market Perform call on the company. The firm cut its target price for Hap Seng by six per cent to RM1.70 (from RM1.80) as it rationalises its valuation basis to 16 times forward price-to-earnings ratio, in line with the six-month average for smaller plantation companies (from 0.7 times price/net tangible assetpreviously). HSPlant's nine-month financial year 2023 core net profit met the research unit's expectations, making up 72 per cent of its full-year forecast but disappointed the market, at only 65 per cent of the full-year consensus estimate. Core net profit for the nine-month period came in at RM60.9 million. (NST)

MIDF research is optimistic on MY E.G Services Bhd's (MyEG) prospects, keeping its buy call on the company, as nine months results came in at the higher end of its expectations. The firm said MyEG's higher earnings for the nine month period of RM337.5 million, made up 80.4 per cent of its full year earnings estimates for financial year 2023. "We are making no changes to our earnings estimates at this juncture. Our target price is also maintained at RM0.97," it said. (NST)

Source: New Straits Times, The Edge Markets The Star 21 November 2023

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