CORP BRIEF: UMW, TRC, Poh Kong and Central Global


UMW delivers 25,568 units in May

UMW Holdings Bhd’s automotive sales surged to 25,568 units in May 2021, compared to 11,342 units in May 2020. In a statement yesterday, the group said the significant sales improvement for both UMW Toyota Motor Sdn Bhd (UMWT) and its associate company, Perusahaan Otomobil Kedua Sdn Bhd, had been mainly driven by the launch of new vehicle models, festive campaigns and sales tax exemption despite the escalating rate of Covid-19 infections and global semiconductor chip shortage. It said UMWT continued its positive sales momentum with 7,595 units sold in May 2021, 120% higher than the 3,456 units registered in May 2020. — Bernama

TRC’s unit wins RM43m contract from BHIC

TRC Synergy Bhd’s wholly owned subsidiary, Trans Resources Corp Sdn Bhd, secured a RM43 million contract from BHIC Submarine Engineering Services Sdn Bhd. In a filing to Bursa Malaysia yesterday, the company said the contract was for the pre-scheduled maintenance of floating breakwater jetty and shiplift jetty (underwater structure). It also extends to a 24-month scheduled and corrective maintenance of Zone D area, jetty facilities building, bosun building, floating breakwater jetty, shiplift jetty and safety conditioning facilities at the Royal Malaysian Navy Submarine Base, Sepangar Bay in Kota Kinabalu, Sabah.

Poh Kong posts RM24m net profit in 3Q

POH Kong Holdings Bhd posted a net profit of RM24.02 million in the third quarter (3Q) ended April 30, 2021, from a net loss of RM2.31 million made a year earlier. In a filing to Bursa Malaysia yesterday, the company said the revenue for the quarter tripled to RM364.19 million from RM112.46 million previously amid increased interest for gold investment products and cost-control efforts. Poh Kong said barring unforeseen circumstances, the board of directors was confident the group had put in place adequate measures to meet the challenges ahead for the financial year ending July 31, 2021.

Central Global clarifies on database centre set-up

CENTRAL Global Bhd clarified that information published in several news journals in China regarding the memorandum of understanding (MoU) between its subsidiary, CIC Construction Sdn Bhd, and Huobi Mall to build a global database collection centre in Malaysia is inaccurate. In a statement yesterday, the company noted that they were indeed in discussion with Huobi Mall on the possibility of said collaboration. However, Central Global is still in the middle of evaluating the viability of the project and has yet to sign an MoU or any forms of agreement with Huobi Mall.