CORP BRIEF: SCB, ARB, Econframe and UEM Sunrise

SCB accepts extended works from TNB for RM190.7m

SARAWAK Cable Bhd (SCB) has accepted the third variation order (VO3) from Tenaga Nasional Bhd (TNB), which consists of the revised and additional scope of works for a double circuit transmission (DCT) line project for RM190.66 million. The group in a filing to Bursa yesterday said its wholly-owned subsidiary, SCB Power Transmission Sdn Bhd, had initially received the acceptance letter from TNB on Oct 26, 2016, for the proposed 500kV double circuit transmission line from Points Z to M (Pahang and Selangor border) and 275kV DCT line from Points Z to M. SCB said the project and VO3 will not have any effect on its issued paid-up share capital and its shareholdings.

ARB’s net profit rises from ERP and IoT contributions

ARB Bhd’s net profit for its fourth quarter ended Dec 31, 2020 (4Q20), increased 54.4% to RM19.74 million from RM12.79 million last year on the back of higher contribution from its enterprise resource planning (ERP) Internet of Things (IoT) segments. Its revenue rose 61% to RM72.46 million in the quarter versus RM45 million in 4Q19 where ERP contributed RM69.85 million and IoT registered RM2.61 million. The ERP segment is involved in designing and reselling of customised ERP solutions, while the IoT segment is involved in integrated solutions in system. The group said both segments are expected to contribute future earnings.

Econframe is Onvia’s security systems exclusive distributor

ECONFRAME Bhd has been appointed as an exclusive project distributor of Onvia Sdn Bhd’s smart home and security system for residential, commercial and industrial buildings in Malaysia. In a filing to the stock exchange yesterday, Econframe noted that the smart home and security system business is poised for growth with the emergence of Internet of Things. A distributorship agreement was entered between its wholly-owned subsidiary, Eframe Technology Sdn Bhd, to carry out the sale and distribution of Onvia’s products for the non-store retailing segment in Malaysia. The three-year agreement will come into effect starting from Feb 15.

UEM Sunrise terminates venture with Mulpha

UEM Sunrise Bhd (UEMS) and Mulpha International Bhd (MIB) have agreed to not proceed with their master agreement made on Feb 16, 2016, as some conditions under the agreement were not met or have been waived during the extended conditional period, a UEMS exchange filing yesterday noted. UEMS’s unit UEM Land Bhd and Leisure Farm Corp Bhd, which is a subsidiary of MIB and joint venture (JV) with Axis Sdn Bhd had inked a JV to develop three parcels of land in Nusajaya, Johor.