FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n![\"\"](\"https:\/\/focusmalaysia.my\/wp-content\/uploads\/DATO-AWANG-DAUD-1-375x375.jpg\")
Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\n\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\nAs with Kossan working towards finalising its remediation programme, Hall welcomed the move as a step forward to ensuring more at risk migrant workers in Malaysia are taken out of debt bondage and forced labour situations.<\/p>\n\n\n\n
\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\nCommenting on Supermax \u201cbeing left out of the race\u201d, migrant worker and labour rights activist and researcher Andy Hall urged the company to \u201cremediate properly in one lump sum and to address the issue of the company\u2019s large outsourced and irregular workforce.\u201d<\/p>\n\n\n\n
As with Kossan working towards finalising its remediation programme, Hall welcomed the move as a step forward to ensuring more at risk migrant workers in Malaysia are taken out of debt bondage and forced labour situations.<\/p>\n\n\n\n
\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\nThe programme encompasses all foreign workers who were recruited before or after the implementation of the policy in May 2019.<\/p>\n\n\n\n
Commenting on Supermax \u201cbeing left out of the race\u201d, migrant worker and labour rights activist and researcher Andy Hall urged the company to \u201cremediate properly in one lump sum and to address the issue of the company\u2019s large outsourced and irregular workforce.\u201d<\/p>\n\n\n\n
As with Kossan working towards finalising its remediation programme, Hall welcomed the move as a step forward to ensuring more at risk migrant workers in Malaysia are taken out of debt bondage and forced labour situations.<\/p>\n\n\n\n
\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\n\u201cThe group-wide exercise is undertaken by an independent third party which provides evaluation and reviews on the programme and execution monitoring in line with the company\u2019s due diligence according to its \u2018Zero Cost Recruitment Policy\u2019,\u201d Kossan pointed out in a media statement.<\/p>\n\n\n\n
The programme encompasses all foreign workers who were recruited before or after the implementation of the policy in May 2019.<\/p>\n\n\n\n
Commenting on Supermax \u201cbeing left out of the race\u201d, migrant worker and labour rights activist and researcher Andy Hall urged the company to \u201cremediate properly in one lump sum and to address the issue of the company\u2019s large outsourced and irregular workforce.\u201d<\/p>\n\n\n\n
As with Kossan working towards finalising its remediation programme, Hall welcomed the move as a step forward to ensuring more at risk migrant workers in Malaysia are taken out of debt bondage and forced labour situations.<\/p>\n\n\n\n
\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\nOn the company\u2019s part, a total of RM29 mil has been paid out to-date with the remaining RM25 mil expected to be completed in the month ending June 2021 as it accelerates the remediation payment programme.<\/p>\n\n\n\n
\u201cThe group-wide exercise is undertaken by an independent third party which provides evaluation and reviews on the programme and execution monitoring in line with the company\u2019s due diligence according to its \u2018Zero Cost Recruitment Policy\u2019,\u201d Kossan pointed out in a media statement.<\/p>\n\n\n\n
The programme encompasses all foreign workers who were recruited before or after the implementation of the policy in May 2019.<\/p>\n\n\n\n
Commenting on Supermax \u201cbeing left out of the race\u201d, migrant worker and labour rights activist and researcher Andy Hall urged the company to \u201cremediate properly in one lump sum and to address the issue of the company\u2019s large outsourced and irregular workforce.\u201d<\/p>\n\n\n\n
As with Kossan working towards finalising its remediation programme, Hall welcomed the move as a step forward to ensuring more at risk migrant workers in Malaysia are taken out of debt bondage and forced labour situations.<\/p>\n\n\n\n
\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\nYesterday, Kossan Rubber Industries Bhd said it is on the verge of finalising its remediation programme amounting to RM54 mil which was first announced via a Bursa Malaysia filing on Oct 1 last year.<\/p>\n\n\n\n
On the company\u2019s part, a total of RM29 mil has been paid out to-date with the remaining RM25 mil expected to be completed in the month ending June 2021 as it accelerates the remediation payment programme.<\/p>\n\n\n\n
\u201cThe group-wide exercise is undertaken by an independent third party which provides evaluation and reviews on the programme and execution monitoring in line with the company\u2019s due diligence according to its \u2018Zero Cost Recruitment Policy\u2019,\u201d Kossan pointed out in a media statement.<\/p>\n\n\n\n
The programme encompasses all foreign workers who were recruited before or after the implementation of the policy in May 2019.<\/p>\n\n\n\n
Commenting on Supermax \u201cbeing left out of the race\u201d, migrant worker and labour rights activist and researcher Andy Hall urged the company to \u201cremediate properly in one lump sum and to address the issue of the company\u2019s large outsourced and irregular workforce.\u201d<\/p>\n\n\n\n
As with Kossan working towards finalising its remediation programme, Hall welcomed the move as a step forward to ensuring more at risk migrant workers in Malaysia are taken out of debt bondage and forced labour situations.<\/p>\n\n\n\n
\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
\nSUPERMAX Corp Bhd is now the only Big-Four glove maker which has yet to commence or finalise the remediation programme of its foreign workers.<\/p>\n\n\n\n
Yesterday, Kossan Rubber Industries Bhd said it is on the verge of finalising its remediation programme amounting to RM54 mil which was first announced via a Bursa Malaysia filing on Oct 1 last year.<\/p>\n\n\n\n
On the company\u2019s part, a total of RM29 mil has been paid out to-date with the remaining RM25 mil expected to be completed in the month ending June 2021 as it accelerates the remediation payment programme.<\/p>\n\n\n\n
\u201cThe group-wide exercise is undertaken by an independent third party which provides evaluation and reviews on the programme and execution monitoring in line with the company\u2019s due diligence according to its \u2018Zero Cost Recruitment Policy\u2019,\u201d Kossan pointed out in a media statement.<\/p>\n\n\n\n
The programme encompasses all foreign workers who were recruited before or after the implementation of the policy in May 2019.<\/p>\n\n\n\n
Commenting on Supermax \u201cbeing left out of the race\u201d, migrant worker and labour rights activist and researcher Andy Hall urged the company to \u201cremediate properly in one lump sum and to address the issue of the company\u2019s large outsourced and irregular workforce.\u201d<\/p>\n\n\n\n
As with Kossan working towards finalising its remediation programme, Hall welcomed the move as a step forward to ensuring more at risk migrant workers in Malaysia are taken out of debt bondage and forced labour situations.<\/p>\n\n\n\n
\u201cGiven the current interest in forced labour within Kossan\u2019s operations by CBP (the US Customs and Border Protection), the lump sum repayment which is in line with industry developments was to be expected,\u201d he told FocusM<\/strong><\/em>.<\/p>\n\n\n\n\u201cThis is after all a healthy investment for the future and is part of ESG (environment, social and governance) abidance which has become a norm among today\u2019s fund managers\u201d.<\/p>\n\n\n\n
On June 8, fellow Big-Four glove maker Hartalega Holdings Bhd completed its remediation of recruitment fees totalling RM41 mil within eight months of its commencement in November 2020 which according to the company was \u201cahead of its initial target\u201d.<\/p>\n\n\n\n
Hartalega said the reimbursement was made to current workers who joined the group prior to the implementation of its zero-recruitment cost policy on April 1, 2019 and had previously paid recruitment fees to employment agents during the recruitment process.<\/p>\n\n\n\n
On Oct 6 last year, Top Glove Corp Bhd announced that it will pay RM136 mil over the next 10 months to compensate its migrant workers as part of its efforts to resolve the CBP import ban over forced labour claims. \u2013 June 11, 2021<\/p>\n","post_title":"Supermax: Have you done your bit to reimburse your foreign workforce?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"supermax-have-you-done-your-bit-to-reimburse-your-foreign-workforce","to_ping":"","pinged":"","post_modified":"2021-06-12 09:06:36","post_modified_gmt":"2021-06-12 01:06:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72035","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":72025,"post_author":"91","post_date":"2021-06-11 13:53:57","post_date_gmt":"2021-06-11 05:53:57","post_content":"
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.<\/p>\r\n
Such is the feedback that that FocusM<\/em><\/strong> obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider\u2019s non-independent non-executive director.<\/p>\r\n\u201cSpeculations that Datuk Awang Daud and Datuk Karim (group managing director\/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,\u201d the aide pointed out on condition of anonymity. \u201cTheir partnership which dates back to 1993\/1994 is very much intact.\u201d<\/p>\r\n
Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.<\/p>\r\n\r\n Datuk Awang Daud Awang Putera<\/em>[\/caption]\r\n\r\nA stock market analyst who is familiar with Serba Dinamik told FocusM<\/em><\/strong> that the risks and rewards factor look attractive at the current price given the counter\u2019s dividend payout of 30%.<\/p>\r\n\u201cUncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,\u201d projected the stock market analyst who did not want to be named.<\/p>\r\n
Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund\u2019s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.<\/p>\r\n
On the reversal, Abdul Karim has himself moped up five million shares on May 31 \u2013 the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company\u2019s external auditor KPMG on May 25.<\/p>\r\n
Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.<\/p>\r\n
The company\u2019s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.<\/p>\r\n
At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. \u2013 June 11, 2021<\/p>","post_title":"Serba Dinamik: Awang Daud has no intention to exit the company","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"serba-dinamik-awang-daud-has-no-intention-to-exit-the-company","to_ping":"","pinged":"","post_modified":"2021-06-12 09:07:30","post_modified_gmt":"2021-06-12 01:07:30","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=72025","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":71963,"post_author":"91","post_date":"2021-06-10 18:53:00","post_date_gmt":"2021-06-10 10:53:00","post_content":"
CABLE and wire manufacturer Southern Cable Group Bhd has secured shareholders\u2019 approval for the proposed amendments to the company\u2019s constitution, thus paving the way for the transfer of its listing status to the Main Market of Bursa Malaysia.<\/p>\r\n
The Kedah-based company expects the transfer exercise to take place in 4Q 2021 pending approvals from the Securities Commission (SC) and Bursa Malaysia.<\/p>\r\n
\u201cThe transfer of Southern Cable\u2019s to the Main Market of Bursa Malaysia in less than a year after our ACE Market listing mirrors our bright prospects in the high-growth cables and wires market,\u201d the company\u2019s managing director Tung Eng Hai pointed out during its virtual annual general meeting (AGM) today.<\/p>\r\n
\u201cNot only do we supply cables and wires to key utility providers such as Tenaga Nasional Bhd and Telekom Malaysia Bhd but also to major infrastructure projects such as the Mass Rapid Transit (MRT) as well as the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, among others.\u201d<\/p>\r\n
Tung expects Southern Cable to post resilient growth in 2H 2021 as the company has tapped the roll-out of mega projects across key sectors such as power, telecommunication, infrastructure & construction and oil & gas (O&G).<\/p>\r\n
The company is also in the process of expanding its cable and wire production capacity to support its growth by building a new production facility adjacent to its existing facility in Kuala Ketil (Kedah).<\/p>\r\n
Construction works for the new production facility are expected to commence in 2H 2021 which would provide an additional annual capacity of 5,000 km (kilometres). Upon completion in 2H 2022, the group\u2019s total production capacity for cables and wires would increase by about 15% to 38,780km annually.<\/p>\r\n
The expansion comes on the backdrop of favourable demand outlook for cables and wires in Malaysia.<\/p>\r\n
According to the Energy Commission of Malaysia, the country\u2019s total installed electricity generation capacity grew from 24,275MW (megawatts) in 2010 to 36,585MW in 2019 while another 6,077MW in new generation capacity would be required by 2030.<\/p>\r\n
\u201cThe transfer to the Main Market would help reinforce our profile as a leading and trusted provider of cables and wires,\u201d projected Tung. \u201cWe also target to achieve more investor participation in our shares which would also help to enhance shareholders\u2019 value.\u201d<\/p>\r\n
Southern Cable was listed on the ACE Market of Bursa Malaysia on Oct 16 last year at an initial public offering (IPO) price of 34 sen\/share.<\/p>\r\n
At the close of today\u2019s trading, the company was down 0.5 sen or 1.06% to 46.5 sen with 897,300 shares traded, thus valuing the company at RM372 mil. \u2013 June 10, 2021<\/p>","post_title":"Southern Cable gets shareholders\u2019 nod for Main Market transfer","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"southern-cable-gets-shareholders-nod-for-main-market-transfer","to_ping":"","pinged":"","post_modified":"2021-06-11 13:47:00","post_modified_gmt":"2021-06-11 05:47:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/focusmalaysia.my\/?p=71963","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":442},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_22"};
