CORP BRIEF: United Plantations, Ta Win, Cenergi-SDISB and Ecomate

by TMR / graphic by MZUKRI MOHAMAD

United Plantations’ profit rises to RM154.2m in 3Q

UNITED Plantations Bhd’s net profit jumped to RM154.15 million in the third quarter ended Sept 30, 2021 (3Q21) from RM95.33 million in 3Q20. Revenue surged 9.1% year-on-year to RM525.5 million from RM334.04 million previously due to higher revenues from both its plantation and refinery segments, which rose by 19.2% and 8.7%, respectively. The plantation division recorded better crude palm oil (CPO) and palm kernel (PK) production, as both rose by 7.5% and 13.8%, respectively, and the average CPO and PK prices grew by 5.7% and 0.9%, respectively, compared to 2Q21. — Bernama

Ta Win’s unit acquires new assets for RM35m

TA WIN Holdings Bhd’s wholly owned subsidiary, Ta Win Innotech Sdn Bhd, has entered into a conditional sale and purchase agreement with BRB Properties Sdn Bhd to acquire a leasehold industrial land in West Port, Port Klang, Selangor together with factory buildings on the land for a total cash consideration of RM35 million. The proposed acquisition would enable the company to triple its total production capacity over the medium- to long-term, catering for the expected long-term demand growth for copper rods and wires. — Bernama

Cenergi, SDISB ink maintenance agreement

CENERGI RE Sdn Bhd (Cenergi), a wholly owned subsidiary of Cenergi SEA Bhd, recently entered into an agreement with Sime Darby Industrial Sdn Bhd (SDISB) for the latter to provide maintenance services for Cenergi’s Caterpillar biogas gensets installed at Cenergi’s biogas power plants at various locations in Malaysia. Cenergi SEA, a subsidiary of Khazanah Nasional Bhd, is a premier sustainable energy solutions company which specialises in reducing carbon emissions. To date, Cenergi has 10 operating biogas power plants across Malaysia and Indonesia.

Ecomate makes strong debut on ACE Market

MUAR-BASED ready-to-assemble furniture specialist, Ecomate Holdings Bhd, has successfully debuted on the ACE Market of Bursa Malaysia Securities Bhd yesterday. Ecomate opened at RM0.68, representing a premium of RM0.35 or 106.1% from its issue price of RM0.33 per share. The opening volume was 10.6 million shares. It raised a total of RM16.17 million from the public issue under its IPO of which RM6 million or 37.1% will be used to acquire new machinery and equipment, RM2 million or 12.4% will be allocated to finance its new factory and hostel construction, RM5.27 million or 32.6% will be allocated for the purchase of raw material, and the balance RM2.9 million or 17.9% is earmarked for listing expenses.