by TMR / pic credit: ANNUAL REPORT
Tryke partners Falcon Ride for micro-mobility biz
TRYKE Transportation Sdn Bhd partnered Qatar’s Falcon Ride WLL to pursue and expand micro-mobility business in Malaysia, SouthEast Asia and the Middle East. In a statement yesterday, Falcon will deploy its fleet of electric vehicles alongside Tryke in various states in Malaysia, starting with Cyberjaya. They will also share their expertise and knowledge in Internet of Things hardware design, software development and solar-charging technologies to further strengthen their capabilities in the industry.
PLS’ takeover offer deemed fair, reasonable
PLS Plantations Bhd’s board and independent advisor, DWA Advisory Sdn Bhd, concluded that a takeover offer of 95 sen per share tabled by Ekovest Bhd as “fair and reasonable”, while the warrant offer price was not fair but reasonable. In a filing to Bursa Malaysia yesterday, PLS said DWA Advisory deemed the share price to represent a premium of 28 sen to 29 sen or 41.79% to 43.94% to the estimated diluted fair value of PLS’ share of between 66 sen and 67 sen based on the sum-of-parts valuation model. Accordingly, DWA Advisory recommended the shareholders to accept the offer. PLS’ board of non-interested directors had advised the same. Ekovest intends to maintain the listing status of PLS on the Main Market of Bursa Securities.
Kanger’s 3Q net loss widens to RM4.7m
KANGER International Bhd’s net loss widened to RM4.73 million in the third quarter ended Sept 30, 2020 (3Q20), from RM649,000 a year ago mainly due to insufficient revenue generated due to lower sales of woven bamboo flooring, which were largely affected by the relocation of its bamboo processing and manufacturing operations from Ganzhou to Jingzhou, China. In a filing to the stock exchange yesterday, the group incurred some non-recurring expenses, in particular the professional and administrative expenses, during the process of issuing the reverse convertible of RM1.3 million and the share-based payment of RM400,000 in 3Q20. It posted a loss per share of 0.33 sen in the three months against 0.07 sen. The group’s revenue declined 49.53% year-on-year to RM4.85 million from RM9.61 million in 3Q19.
MNRB records higher profit
MNRB Holdings Bhd recorded improved overall earnings for its first six-month results ended Sept 30, 2020 for financial year 2021 (1H21). The group’s gross premiums and takaful contributions rose 6.5% to RM1.14 billion in 1H21 from RM1.07 billion recorded in 1H20. MNRB’s group net profit increased 7.9% to RM93.2 million compared to RM86.4 million recorded previously. In a statement yesterday, the company said its subsidiary Malaysian Reinsurance Bhd’s net profit was lower at 5.8% to RM46.9 million compared to RM49.8 million recorded previously.
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