BAuto, Poh Kong, Tiger Synergy, Comintel, PUC, AppAsia, Sumatec and George Kent

KUALA LUMPUR (June 12): Based on business statements and news circulation today, companies in focus on Wednesday (June 13) might consist of: Bermaz Vehicle Bhd, Poh Kong Holdings Bhd, Tiger Synergy Bhd, Comintel Corp Bhd, PUC Bhd, AppAsia Bhd, Sumatec Resources Bhd and George Kent (M) Bhd.Bermaz Auto

Bhd's net revenue for the 4th quarter ended April 30, 2018 came in 2.6 times higher at RM57.19 million compared with RM22.21 million in the previous year, thanks to greater domestic sales of its well-received CX-5 and CX-9 models that were introduced in the last quarter of 2017.

This brought revenues per share for the quarter to 4.93 sen from 1.93 sen. Income grew 61% year-on-year to RM570.59 million from RM354.03 million.The group has actually

suggested a fourth interim dividend of 2.3 sen per share and an unique dividend of 2.7 sen per share, totalling a payment of 5 sen per share, which will be payable on July 26.

For its complete year, net revenue increased 19% y-o-y to RM140.07 million from RM117.65 million, while revenue increased 20% y-o-y to RM1.99 billion from RM1.66 billion.On potential customers, the group stated profitability of its associate Mazda Malaysia is anticipated to increase with the increase in volume of vehicles to be exported to the ASEAN area, combined with high need in the domestic market.Poh Kong Holdings Bhd's third quarter net revenue fell 41.79%to RM4.31 million from RM7.4 million a year earlier, due to change in gold prices.Quarterly revenue however increased 17.16%to RM240.44 million, from RM205.23 million formerly, on higher demand for gold jewellery and gold investment items, as well as earnings from brand-new outlets.Cumulative nine-month net earnings fell 5.03 %to RM14.48 million or 3.53 sen a share from RM15.24 million or

3.71 sen a share in the previous matching period. Profits was 18.53%greater at RM731.35 million from RM617.01 million previously.Going forward, Poh Kong stated the group is optimistic of preserving its growth and leading position in Malaysia, despite more challenging and competitive conditions in the domestic jewellery market.Tiger Synergy Bhd is to undertake a RM22.3 million blended development home in Sungei Kandis, Klang.Comprising either a residential or industrial development, the job will be performed on a joint-venture basis with the group's wholly-owned systems, Pembinaan Terasia Sdn Bhd and Harapan Handal Sdn Bhd.Tiger Synergy stated the

two subsidiaries inked a joint-venture arrangement today under which Tiger Synergy said Harapan Handal will contribute to the advancement land.Pembinaan Terasia, meanwhile, will bear the entire expense and expenditure of establishing the land, which will take around three years to complete.The proposed joint-venture will enable Tiger Synergy to take part and benefit from business venture and is expected to contribute positively to the future success and the capital of Tiger Synergy along with the stability of its future income stream.Comintel Corp Bhd has been served with a statutory need

by U Tv Sdn Bhd(UTV)to pay a sum of RM20.83 million, together with a yearly rates of interest of 8%The statutory need was in relation to litigation action taken by Comintel Sdn Bhd, a wholly-owned subsidiary of Comcorp, against UTV and Tan Sri Vincent Tan Chee Yioun.The sum-- being UTV's counterclaim against Comintel-- amounted to RM22.2 million, inclusive of interest calculated from Aug 18, 2017 to June 12, 2018. It stated it will be seeking legal recommendations on this matter.Last year, Comintel revealed it had failed in its final bid to claim losses emerging from an alleged breach of contract worth RM20.8 million with UTV and Tan.PUC Bhd has settled for a RM40 million investment in e-commerce

platform 11Street Malaysia, less than half the RM90 million it had initially considered.Its wholly-owned PUC Ventures Sdn Bhd has inked a share membership contract with Celcom World Sdn Bhd, to sign up for 12.348 %equity interest in Celcom World for a total cash factor to consider of RM40 million, rather of subscribing for approximately 24% equity interest in Celcom World for an overall money factor to consider of approximately RM90 million.The membership includes a 1.72%equity interest in Celcom World, which was a done deal on April 24. Celcom World, who owns and runs 11Street Malaysia, was loss-making as at end-2017, incurring a bottom line of approximately RM129 million with net liabilities at some RM104 million.AppAsia Bhd is partnering with the Malaysian Institute of Accountants (MIA )to establish an industry-wide electronic bank verification platform, which will facilitate the bank confirmation procedure in the country.The group said its wholly-owned unit, Extol Corp Sdn Bhd, inked a cooperation arrangement with MIA, which stands

over the next 10 years.The directors are of the opinion that the collaboration agreement remains in the very best interest of AppAsia after

thinking about, among others, the prospective monetary contribution to its earnings.Sumatec Resources Bhd is confident that it will be declassified as a Practice Note 17(PN17 )company by 2019, as it looks to send its regularisation plan to Bursa Malaysia"extremely soon". The regularisation plan consists of a scheme to pay off its RM230 million tradition financial obligation to its lenders, along with future company operations that will keep the company in the black for the next 2 monetary quarters after the approval of the plan.Barring unanticipated scenarios, Sumatec said it will have the strategy prepared in two or 3 weeks'time which will then be announced to the stock exchange.George Kent(M) Bhd's net earnings for the first quarter ended April 30, 2018 rose 16.49% year-on-year to RM21.54 million from RM18.5 million, driven generally by its metering business.Revenue for the quarter, nevertheless, fell to RM99.76 million from RM129.42 million previously.In a declaration today, George Kent chairman Tan Sri Tan Kay Hock stated the group had attained yet another record set of first-quarter results.Going forward, with a strong balance sheet, the group will increase its resources considerably, in terms of workforce and financial resources, to accelerate the growth in its metering and other water-related organisations and investments through M&A s and strategic partnerships.

Source

http://www.theedgemarkets.com/article/bauto-poh-kong-tiger-synergy-comintel-puc-appasia-sumatec-and-george-kent