Latest news with #MSSB
The Star
01-08-2025
- Business
- The Star
Trading ideas: TNB, ITMAX, YTL-REIT, Paramount, Bintai Kinden, Chin Hin, Pharmaniaga, Unisem, Avillion
KUALA LUMPUR: Stocks to watch today include Tenaga Nasional Bhd (TNB), ITMax System Bhd , YTL Hospitality Real Estate Investment Trust (YTL‑REIT), Paramount Corp Bhd , Bintai Kinden Corp Bhd, Chin Hin Group Bhd (CHGB), Pharmaniaga Bhd , Unisem (M) Bhd and Avillion Bhd , following their recent corporate developments. TNB has received an additional tax assessment of RM609.03mil for 2023 from the Inland Revenue Board. The group is reviewing its legal options, noting it has applied for Investment Allowance under the Income Tax Act. YTL REIT posted a lower net profit of RM148.56mil for the financial year ended June 30, 2025 (FY2025), compared to RM178.0mil recorded in the previous year. Revenue slipped to RM548.30mil from RM554.90mil previously. Paramount is acquiring 18.97 acres of freehold land in Bandar Cassia, Penang, for RM57.84mil to boost its landbank in the northern region. The project is expected to generate a GDV of RM744mil and will be funded via internal funds and borrowings. ITMax has secured a contract worth RM145mil from the Johor Baru City Council (MBJB) for the deployment and maintenance of the smart traffic light system across the Johor Baru area. Bintai Kinden's FY25 financial statements were deemed true and fair by auditors, with a qualification tied only to legacy FY24 opening balances. Despite posting a pre-tax loss of RM31.97mil on lower revenue, the group saw an improved financial position, secured new projects, and expects stronger contributions ahead, with optimism about exiting PN17 status this year. Chin Hin is disposing of its entire equity interest in Metex Steel Sdn Bhd (MSSB) to EC Excel Wire Sdn Bhd for RM70mil. The proposed disposal provides an opportunity for the company to unlock and monetise its investment in MSSB. Pharmaniaga has completed its rights issue and regularisation plan, paving the way for the group to exit PN17 status by the first quarter of 2026. The rights issue saw full subscription with a 26.14% oversubscription rate, while the private placement attracted 19 new investors, reflecting strong confidence in the group's recovery and long-term growth plans. Unisem reported a net profit of RM9.13mil for 2QFY25, down from RM16.76mil a year earlier, with earnings per share falling to 0.57 sen from 1.04 sen. Revenue during the quarter stood at RM475.15mil as compared to RM394.59mil in 2QFY24. Avillion's external auditor flags material uncertainty over the group's ability to continue as a going concern due to continued losses and negative cash flow. Despite the concerns, the auditor's opinion on the FY25 financial statements remains unmodified.
The Star
31-07-2025
- Business
- The Star
Chin Hin sells steel welded mesh firm for RM70mil
PETALING JAYA: Chin Hin Group Bhd is disposing of its entire equity interest in Metex Steel Sdn Bhd (MSSB) to EC Excel Wire Sdn Bhd for RM70mil. In a filing with Bursa Malaysia, Chin Hin said MSSB's principal activities are manufacturing and sales of steel welded mesh and wire products. 'The proposed disposal provides an opportunity for the company to unlock and monetise its investment in MSSB. 'The proposed disposal is intended to streamline and re-organise the business activities of the company and it is expected to improve the cash flows of the company.' Chin Hin said the proceeds from the proposed disposal will be utilised to support the group's working capital requirements, finance its business expansion initiatives, and to be channelled into other business activities that are anticipated to be more promising. Chin Hin's core businesses include building materials, property development, construction engineering and home and living. For its first quarter ended March 31, 2025, Chin Hin's net profit rose to RM18.36mil from RM9.07mil in the previous corresponding period, while revenue grew to RM951.95mil from RM570.21mil a year earlier. In its notes on its first-quarter results, Chin Hin said it remains optimistic about sustaining steady growth in the coming quarters. 'This momentum is expected to further strengthen our financial position and reinforce our market presence, enabling us to navigate challenges and capitalise on emerging opportunities.'
The Star
31-07-2025
- Business
- The Star
Chin Hin sells Metex Steel for RM70mil to streamline business
PETALING JAYA: Chin Hin Group Bhd (CHGB) is disposing of its entire equity interest in Metex Steel Sdn Bhd (MSSB) to EC Excel Wire Sdn Bhd for RM70mil. In a filing with Bursa Malaysia, CHGB said MSSB's principal activities are manufacturing and sales of steel welded mesh and wire products. 'The proposed disposal provides an opportunity for the company to unlock and monetise its investment in MSSB. 'The proposed disposal is intended to streamline and re-organise the business activities of the company and it is expected to improve the cash flows of the company.' CHGB said the proceeds from the proposed disposal will be utilised to support the group's working capital requirements, finance its business expansion initiatives, and to be channelled into other business activities that are anticipated to be more promising. CHGB's core businesses include building materials, property development, construction engineering and home and living.
