Dec 22nd - Companies in the news Taliworks, CYL Corp, Ni Hsin, KNM, Dialog

by **Cals** Sat 20 Dec 2014, 00:58

Companies in the news
Taliworks, CYL Corp, Ni Hsin, KNM, Dialog

KUALA LUMPUR (Dec 19): Based on corporate announcements and news flow today, the companies that may be in focus on Monday (Dec 22) could include: Taliworks Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), CYL Corp Bhd, Ni Hsin Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), KNM Group Bhd and Dialog Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
Public utilities operator Taliworks Corp Bhd is taking over the New North Klang Straits Bypass Expressway from the government for RM265 million.
In a filing with Bursa Malaysia, Taliworks said Jejak Melewar Sdn Bhd, in which it has a 75% indirect stake, received a letter of award today from the government to take over the assets and concession rights of the 17.5km expressway.
"The group will make the appropriate announcement upon the signing of the relevant agreements and documents to effect the aforesaid and any other developments relating to this in due course," it added.
Taliworks shares closed up 8 sen to RM1.96 today, giving it a market capitalisation of RM846.79 million.
Plastic packaging products maker CYL Corp Bhd saw its net profit surge more than four-fold to RM1.19 million for the third financial quarter ended Oct 31, 2014 (3QFY15) from RM271,000 a year ago, bolstered by higher demand for its products and a nominal acceptance to its higher pricing.
It also no longer needed a provision for writedown on its packaging inventories.
Revenue rose 28% to RM19.93 million from RM15.56 million in 3QFY14. Earnings per share stood at 1.19 sen from 0.27 sen in 3QFY14.
For the nine-month period (9MFY15), CYL Corp's net profit jumped almost three-fold to RM3.79 million from RM1.34 million a year ago, while revenue grew 18.6% to RM57.06 million from RM48.09 million.
Going forward, CYL Corp said it foresees the marketplace to remain competitive, especially with the increase in labour cost and electricity tariff that affect the group’s profit margin.
CYL shares closed up 0.5 sen today to 53.5 sen, bringing a market capitalisation of RM53.5 million.
Cookware manufacturer Ni Hsin Resources Bhd’s managing director (MD) Hsiao Chih Chien has resigned today, citing pursuing other interests as a reason.
He will be replaced by its executive director (ED) Chen Shien Yee, 49.
In a filing with Bursa Malaysia today, Hsiao, 61, a Taiwanese and permanent resident of Malaysia, was appointed as the group's ED on March 19, 2005 and MD on March 22, 2013.
Chen, meanwhile, holds a directorship in oil and gas consultation service provider Ideal Jacobs (Malaysia) Corp Bhd and has served as ED of Ni Hsin since last month.
Ni Hsin shares closed at 33.5 sen today, bringing a market capitalisation of RM77.37 million.
Shareholders of KNM Group Bhd today aired their concerns over the company's operations going forward, following the sharp drop in crude oil prices.
In a four-hour long extraordinary general meeting, shareholders raised issues pertaining to the declining oil prices, KNM's Petroliam Nasional Bhd (Petronas) related contracts and the RM2.1 billion Peterborough project in UK on the group's earnings.
The process equipment manufacturer, however, gave assurance that it is 'less impacted' by the falling oil prices as it is principally involved in onshore downstream activities.
The group also assured shareholders that its work package contract for the Pengerang Integrated Complex project is secured despite Petronas' recent announcement that it will cut 15% to 20% of its capital expenditure next year.
KNM shares closed up 0.5 sen to 48.5 sen today, giving it a market capitalisation of RM783.64 million.
Petroliam Nasional Bhd (Petronas), Dialog Group Bhd and Royal Vopak NV have signed a shareholders agreement to jointly develop an industrial terminal for Petronas’ Pengerang Integrated Complex (PIC) in Johor.
The deal was signed among Petronas' wholly-owned unit PRPC Utilities and Facilities Sdn Bhd, Dialog Equity (Two) Sdn Bhd and Vopak Terminal Pengerang BV.
The terminal, which will be developed under the Pengerang Terminal Phase 2 project, will have a storage capacity up to 2.1 million cu m for crude, refined products, petrochemical products and liquefied petroleum gas (LPG) upon its completion. It will also feature a deep water jetty facility, with water depth of up to 24m which is capable of handling very large crude carriers.
“Berths for unloading and reloading of liquified natural gas vessels up to Q-Max sized containers are also included in the plans,” said Petronas.
The Pengerang Terminal Phase 2 Project will be built on 157 acres next to the site of the existing Pengerang Independent Terminal, which is scheduled to be commissioned in line with the refinery complex by 2019.
Dialog shares closed up 8 sen to RM1.47 today, with a market capitalisation of RM7.33 billion.