CORP BRIEF: Siab Holdings, Guan Chong, Ta Win and Mah Sing

by TMR / graphic by MZUKRI MOHAMAD

Siab’s IPO shares 50.2 times oversubscribed 

SIAB Holdings Bhd said its public portion of its IPO has been oversubscribed by 50.18 times. Siab, targeted to list on the ACE Market of Bursa Malaysia Securities Bhd on Feb 28, 2022, announced that it received a total of 15,288 applications seeking 1.25 billion new shares, with a value of RM375.89 million, for the 24.48 million new shares made available for the Malaysian public under the IPO. For the Bumiputera portion, 9,829 applications were received for 557.34 million new shares, representing an oversubscription rate of 44.53 times. For the public portion, a total of 5,459 applications for 695.61 million new shares were received, which represents an oversubscription rate of 55.83 times. 

Guan Chong net profit falls in FY21 

GUAN Chong Bhd’s net profit for the financial year ended Dec 31, 2021 (FY21) slipped to RM155.98 million from RM222.71 million a year ago. However, its revenue rose to RM3.92 billion from RM3.68 billion previously, said the chocolate and cocoa products company in a stock exchange filing to Bursa Malaysia yesterday. For the fourth quarter, Guan Chong recorded a net profit of RM51.24 million from RM46.79 million, while revenue increased 6.36% to RM1.09 billion from RM1.02 billion, mainly due to an increase in the sales volume of cocoa products. The company has proposed a final single tier, tax-exempt dividend of two sen per ordinary share. 

Ta Win returns to black in 2Q21 with PAT of RM6m 

TA WIN Holdings Bhd made a turnaround in its second quarter ended Dec 31, 2021 (2Q21), returning to the black with a profit after tax of RM6 million compared to a deficit of RM1.6 million in the previous year’s corresponding quarter, while profit before tax (PBT) grew to RM6.4 million. These positive results were achieved on the back of an improved revenue of RM172.5 million. For the first half of the financial year ended Dec 31, 2021, the group recorded a higher PAT of RM2.1 million, while PBT rose to RM2.6 million. Revenue for the six-month period grew to RM239.3 million. 

Mah Sing to market chemotherapy gloves in US 

MAH Sing Group Bhd’s healthcare business unit, Mah Sing Healthcare Sdn Bhd, has obtained the 510(k) Premarket Notification clearances to market medical-grade examination gloves for use with chemotherapy drugs in the US market. In a filing to Bursa Malaysia yesterday, Mah Sing said, the notification letter received on Feb 19, 2022, will enable big medical players in the US to obtain gloves from Mah Sing Healthcare as their existing suppliers also carry the chemotherapy protection claim. 

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