NEWS IN BRIEF: MAY 25, 2022

MCE HOLDINGS BHD’s wholly-owned subsidiaries, Multi-Code Electronics Industries (M) Bhd and MCE Hengtuo Sdn Bhd have secured contracts to supply various mechanical and mechatronic parts for Proton new car models.

The supply of these parts is expected to commence in the third quarter of the financial year ending July 31, 2022 for a duration of seven years.

“The contracts are expected to generate total revenue of approximately RM21.73 million for MCE Group over the seven-year period, while the estimated total investment cost is RM770,000,” it said in a filing with Bursa Malaysia today.

-- BERNAMA

DKSH HOLDINGS (MALAYSIA) BHD’s net profit for the first quarter ended March 31, 2022 (Q1 2022) rose to RM28.35 million from RM24.07 million in Q1 2021.

Revenue also increased to RM1.81 billion from RM1.75 billion previously, driven by the ongoing organic growth of existing clients from its marketing and distribution and logistics segments and the recovery of customer demand for all segments, it said in a filing with Bursa Malaysia.

Moving forward, the group said it will continue to focus on winning new business, cost efficiency improvements, working capital management and other growth initiatives, while closely monitoring the short-term outlook to ensure prudent navigation of the current situation.

-- BERNAMA

SENHENG NEW RETAIL BHD’s wholly-owned subsidiary, Senheng Electric (KL) Sdn Bhd has entered into a sale and purchase agreement to purchase a leasehold land and building located at Kuchai Entrepreneurs Park, Kuala Lumpur for RM8.28 million.

In a filing with Bursa Malaysia, it said the acquired property comprises a shop lot utilised for displaying and retailing electrical and electronic products in the ordinary course of business.

“The acquisition is likely to contribute to the generation of higher business revenue and targeted to bring significant commercial benefit to the company,” said Senheng.

-- BERNAMA

ABLE GLOBAL BHD’s shareholders have approved eight resolutions tabled at the company’s 21st Annual General Meeting (AGM) today.

In a statement, it said the business landscape in the tin can manufacturing and food and beverage (F&B) industry remained challenging as raw material costs were high and the Russia-Ukraine war affected the raw material and freight prices, putting additional pressure on its profit margin in the short term.

“On the other hand, demand for the F&B segment remains strong. Although the market is highly competitive, we believe that these business segments will still be able to sustain their profitability,” it said.

-- BERNAMA