Anzo: Bags RM1.5bn copper scrap deal? Anzo Holdings may have bagged a new contract worth RM1.3bn to RM1.5bn to export copper scrap to Japan and South Korea. Sources said the company might announce the potential deal as early as next week. It is believed that Anzo will start exporting the copper scrap to Japan and South Korea effective next month via a company with an AP (approved permit) licence. The contract will create new business opportunities for Anzo in the export markets, said sources. (Business Times)
Anzo’s share price movement started after the company announced that it won a RM1.3 billion contract to supply copper scrap over 40 months to a steelmaker in South Korea effective July 1.
Anzo and its subsidiaries entered into a supply agreement with CSTME Resources Sdn Bhd, which holds an AP licence to export the goods. CSTME agreed to buy birch/cliff copper scrap or berry/candy copper scrap from Anzo and export the products to the steelmaker in South Korea.
Anzo is expected to supply 60,000 tonnes of copper scrap to CSTME at RM23,000 per tonne over 40 months. CSTME has been supplying the copper to South Korea effective July 1. As of July 13, it has supplied up to 650 tonnes worth almost RM15 million to RM16 million.
With this copper deal and the orders it is getting for medical gloves, Anzo is set to post more than RM200 million in net profit in its next financial year ending July 31, 2021 and onward. Anzo may sell a box of 1,000 pieces at US$75.
PROPOSED ACQUISITION OF LAND, BUILDINGS, MACHINERIES, EQUIPMENT AND MOTOR VEHICLE ("ASSETS") ("PROPOSED ACQUISITION OF ASSETS") ANZO HOLDINGS BERHAD
Type Reply to Query Reply to Bursa Malaysia's Query Letter - Reference ID IQL-09072020-00002 Subject PROPOSED ACQUISITION OF LAND, BUILDINGS, MACHINERIES, EQUIPMENT AND MOTOR VEHICLE ("ASSETS") ("PROPOSED ACQUISITION OF ASSETS") Description ANZO HOLDINGS BERHAD ("ANZO" OR "THE COMPANY") PROPOSED ACQUISITION OF LAND, BUILDINGS, MACHINERIES, EQUIPMENT AND MOTOR VEHICLE ("ASSETS") ("PROPOSED ACQUISITION OF ASSETS") Query Letter Contents We refer to your announcement dated 8 July 2020, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
1) It was disclosed that your Company has yet to conduct a market valuation on the Assets and is in the midst of examining the production capacity of the Assets. Given the above, please provide the basis and justification on how you can derive at the purchase consideration of RM55 million with certainty.
2) As your Company is still in the midst of studying the cost required to reinstate the production line, please clarify whether there will be any adjustment to be made to the purchase consideration of RM55 million based on the outcome of relevant due diligence and assessment by consultants to be completed within the 14 business days.
3) Given that the Vendor is the beneficial owner of the Assets, please confirm whether the ownership of the Assets have been registered under the name of the Vendor and the date of completion of such registration.
4) It was represented that the business to be carried out on the Assets is subject to the approvals from Department of Environment, Majlis Tempatan Manjung, Department of Occupational Safety
Previously they talked about glove factory goreng to 23cent. Not they myst be thinking of vaccine distribution from China after China visit today on vaccine... or something lah.. be patient... buy more
if possible, becoming a distributor for vaccine could be profitable :)
KUALA LUMPUR (Oct 13): The government will sign a memorandum of understanding (MoU) with China to ensure Malaysia will be among the first to receive the Covid-19 vaccine from the country once it is, as expected, successfully developed by end of the year.
Prime Minister Tan Sri Muhyiddin Yassin said that through talks between Foreign Minister Datuk Seri Hishammuddin Hussein and his visiting Chinese counterpart Wang Yi, China has agreed to list Malaysia as a priority recipient of the vaccine after it completes clinical trials.
"I am quite pleased with this guarantee and I have asked that this cooperation be inked in the form of an MoU to be made with China," he told a press conference at his residence in Putrajaya today.
Muhyiddin said the government has also agreed to join the Covid-19 Vaccine Global Access (COVAX) Facility, a global partnership that can help developing nations obtain vaccines for Covid-19 and other diseases.
Muhyiddin said although this would involve a huge amount of money, it will not stop the government from obtaining the supply from vaccine suppliers from other sources.
Meanwhile, Muhyiddin reiterated the importance of obeying the quarantine orders and that neither he nor his ministers are exempted from complying with the standard operating procedures set by the Ministry of Health (MoH).
"There are no double standards in terms of imposing whatever has been done... whether it is Act 342 or any other law. (The) law can't differentiate between a minister and an ordinary person. If they do something wrong, they will be hit by the law, the appropriate punishment will be meted out, must be meted out," he said.
Touching on the third wave of Covid-19 infections that the country is currently facing, Muhyiddin said the government is adopting the best strategy to curb the spread of the virus, including in terms of spending.
"We spend prudently. Applications from the MoH for any matters... I approve them 100% and this is an important step for us to implement, seeing how the number of cases in Selangor and Sabah has increased.
"We are taking proactive steps to curb the pandemic. But if the situation worsens, there will be other measures that we will take to help the people. What we are doing now is to ensure there is no lockdown.
"Many of those involved in the economic sector do not want another MCO (Movement Control Order), a restriction which clearly had a big impact on the nation's economy," he said.
The prime minister is currently undergoing a 14-day self-quarantine at his residence, beginning from Oct 5.
This is because he had chaired a special meeting of the National Security Council, which was also attended by Minister in the Prime Minister's Department (Religious Affairs) Datuk Seri Dr Zulkifli Mohamad Al-Bakri.
Zulkifli tested positive for Covid-19 last Monday and is undergoing treatment at a hospital in Seremban.
Anzo Holdings Berhad (36998-T)
Condensed Consolidated Statement of Comprehensive Income
For the period ended 31 July 2020
2020 2019 2020 2019
Current Qtr ended Current Qtr ended 12 months cummulative 12 months cummulative
31 Jul 31 Jul 31 Jul 31 Jul
(RM) (RM) (RM) (RM)
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenue 20,026,219 1,720,989 35,562,672 6,217,659
Cost of sales (19,053,447) (1,661,466) (33,283,805) (6,066,716)
Gross profit /(loss) 972,772 59,523 2,278,867 150,943
Other income 121,056 121,742 495,175 431,133
Administrative expenses (1,029,340) (991,765) (3,977,508) (4,028,282)
Other Expenses (44,561) (6,272) (134,502) (39,525)
Finance Cost (5,050) (10,339) (33,611) (50,916)
Profit /(Loss) before taxation 14,877 (827,111) (1,371,579) (3,536,647)
Taxation 19,453 19,453 77,812 77,812
Profit /(Loss) for the period, representing 34,330 (807,658) (1,293,767) (3,458,835)
total comprehensive income for the period
Net profit/(loss) and total comprehensive
income for the financial period
Attributable to:
Equity holders of the parent 34,330 (807,658) (1,293,767) (3,458,835)
Profit/(Loss) per share attributable
to equity holders of the parent:
Basic (Sen) 0.00 (0.09) (0.15) (0.39)
Dilluted (Sen) 0.00 (0.09) (0.15) (0.39)
Notes:
1) The condensed consolidated income statements should be read in conjunction with the audited financial statements for the
year ended 31 July 2019 and the accompanying explanatory notes attached to the interim financial statements.
2) The Company has changed it financial year end from 31 July to 30 September as announced to Bursa Malaysia Securities Bhd
on 16 July 2020.
Results lifted by new copper business, is the worst ?
Anzo returned to the black in 4QFY9/20, reporting a PAT of MYR0.03m vs. a LAT of MYR0.8m a year ago. This took 12MFY9/20 LAT to MYR1.3m (12MFY7/19 LAT: MYR3.5m). Note that Anzo changed its financial year end from 31 Jul 2020 to 30 Sep 2020. No dividend was declared for the quarter.
Losses narrowed in 12MFY9/20 results were mainly attributable to higher contribution from its new copper scrap trading business (reported an EBIT of MYR1.1m). Note that its timber and property divisions also recorded narrower losses on lower operating costs.
That said, the recent venture into copper scrap business could pave the way for better performance ahead. Recall that in Jun 2020, the group entered into an agreement to supply up to 60,000MT of copper scrap to CSTME Resources S/B at MYR23,000/MT for 40 months (total contract: MYR1.3b).
At current price, the stock is trading at average P/B of 0.4x+.
tak tau, nanti datuk Eddie juga privatise anzo :) KUALA LUMPUR (Oct 14): Advance Information Marketing Bhd (AIM) said it had today received a notice of conditional voluntary takeover offer from Datuk Chai Woon Chet, who intends to acquire all the shares in AIM at 13 sen each.
"Pursuant to Paragraph 3.06 of the Rules on Take-overs, Mergers and Compulsory Acquisitions, an independent adviser will be appointed by the board in due course to provide comments, opinions, information and recommendation on the offer to the non-interested directors and holders of the offer shares,” AIM said in a statement to Bursa Malaysia today.
Eddie , a substantial shareholder of xox started another acquisition. anzo soon please probably. KUALA LUMPUR (Oct 14): XOX Bhd, through its wholly-owned subsidiary, XOX (Hong Kong) Limited has acquired 117,848,500 ordinary shares in Nexion Technologies Limited (Nexion), representing 16.37% of the company’s issued and paid-up share capital, for RM23 million.
In a filing with Bursa Malaysia, XOX said the acquisition was acquired today via delivery by transfer.
“The aggregate cost of investment of XOX in Nexion, within the period of 12 months immediately preceding from Oct 14, 2020, was RM23,183,138.
“The cash consideration of RM23,183,138 for the acquisition was based on the prevailing market price of Nexion at the time of purchase and funded via internally-generated funds,” it said.
The acquisition would benefit XOX in increasing its capability to secure the network, addressing cybersecurity challenges, and generate new revenue streams by reselling Nexion products to XOX’s customer.
Nexion, an information and communication technology solution provider, is listed on the Hong Kong Stock Exchange GEM Board, focusing on the provision of cyberinfrastructure and cybersecurity solutions in Southeast Asia through Software as a Service (SaaS) model.
Meanwhile, XOX Bhd group chief executive officer Ng Kok Heng said the acquisition is in line with the group’s direction to go into micro-financing, blockchain technology and content-based assets.
“It would also potentially allow us to have a pricing advantage over competitor products, and Nexion allows us to spearhead the international growth of XOX,” he added.
Eddie offered 30sen for oversea, now 60sen . he offered 13sen for aim, now 26sen . if Eddie do the same for anzo, even 10sen, anzo could fly to 20sen probably :)
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Good123
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Posted by Good123 > 2020-10-12 19:48 | Report Abuse
probably after private placement, good quarterly results or sudden good news like new contracts, etc :)