CORP BRIEF: UEM Edgenta, DGB, Hup Seng and SAM Engineering

by TMR / pic credit: ANNUAL REPORT

UEM Edgenta offers Covid-19 screening

UEM Edgenta Bhd’s subsidiary in its healthcare support division, Edgenta UEMS Sdn Bhd is offering the convenience for businesses and individuals to conduct Covid-19 screening, as approved by the Ministry of Health. In a statement yesterday, the company said the screening options offer a reliable and hassle-free solution, as customers can opt for a drive-through service in Petaling Jaya, Selangor, or via on-site arrangements. Following this, Edgenta is partnering with local clinical laboratories in providing the screening service. Operating hours for drivethrough service are between 9am to 4pm, Monday to Saturday. Customers can arrange for on-site visits based on the team’s availability.

DGB acquires stake in PUC

DGB Asia Bhd’s unit has acquired a total of 40,200,000 ordinary shares in PUC Bhd, representing 6.51% of the total number of issued shares of 617.15 million in the open market for a total cash consideration of RM10.05 million. According to an exchange filing yesterday, DGB said its wholly owned subsidiary DGB Networks Sdn Bhd acquired the total shares in PUC during the period from Oct 12 to Nov 17, 2020. PUC is listed on ACE Market of Bursa Malaysia. The group is principally involved in the business of omni-channel marketing services, e-commerce and electronic payment processing services. DGB said it intends to look into opportunities to capitalise on the new relationship with PUC.

Hup Seng’s 3Q profit shrinks

HUP Seng Industries Bhd narrowed its net profit to RM7.58 million in the third quarter (3Q) ended Sept 30, 2020, from RM10.08 million a year ago. Revenue, rose 14% to RM87.26 million from RM76.65 million, it said in a filing to Bursa yesterday. Unperturbed by the Recovery Movement Control Order, the group was able to carry on normal operations with sufficient supply to meet the demand for biscuits, thus contributing to the positive growth in sales. Domestic sales grew by 16% or RM8.6 million compared to the previous corresponding period from all trade channels, while the export market grew 9% or RM2 million, mainly from Myanmar.

SAM Engineering records lower earnings in 2Q

SAM Engineering & Equipment (M) Bhd’s net profit eased 25% year-on-year to RM15.48 million in its second quarter (2Q) ended Sept 30, 2020, due to lower contribution from the aerospace segment. The group, which makes aircraft components and parts as well as equipment, said revenue for the quarter was, however, marginally higher at RM220.9 million compared to RM210.46 million a year earlier as the increase in revenue from the equipment segment offset lower sales from the aerospace segment. The group said the pandemic had triggered soaring demand for semiconductors and data storage devices used in communications and IT infrastructures.