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 KUALA LUMPUR (Oct 8): Based on corporate announcements and news flow today, companies that may be in focus tomorrow include Top Glove Corp Bhd, AirAsia Group Bhd, Brite-Tech Bhd, Censof Holdings Bhd, My EG Services Bhd, Euro Holdings Bhd, UMW Holdings Bhd, Pestech International Bhd and Mi Technovation Bhd.

Top Glove Corp Bhd has earmarked RM10 billion for capital expenditure over the next five financial years — an increase from the RM8 billion reported earlier — a move which will see the company raising its annual production capacity to surpass 100 billion pieces of gloves as early as the current financial year ending Aug 31, 2021 from 85.5 billion pieces in September 2020 as the COVID-19 pandemic generates demand for gloves.

Meanwhile, Top Glove clarified that its board has not decided on a special dividend payout. theedgemarkets.com, quoting a research note by UOB Kay Hian, reported yesterday that a special dividend is possible as Top Glove moves away from its existing semi-annual payout scheme.  

AirAsia Group Bhd is looking to slash dozens of planes from its fleet by returning aircraft to lessors, said group chief executive Tan Sri Tony Fernandes. "We are not going to buy new planes and we are going to return as many as we can. I estimate by the end of next year we'll be flying 180 planes," Fernandes told reporters. The group currently has 245 aircraft.

Brite-Tech Bhd is buying two pieces of land in Kapar, Klang for RM10.26 million. The two plots are situated in a prime location, where all necessary infrastructure is readily available with positive industrial development potential, the group said.  

Censof Holdings Bhd has bagged an RM7.8 million contract from the Inland Revenue Board for the maintenance of application, hardware and licence renewal for the latter's revenue accounting system, or eRAS.

My EG Services Bhd has received a letter of acceptance from the Ministry of Health to undertake the provision of an online payment system for inbound travellers to pay for COVID-19 screening tests and quarantine charges, prior to their arrival in the country. The project has a tenure of two years effective Nov 1, with no fixed value, as it is dependent on the number of transactions and the service options selected by users.

Office furniture maker Euro Holdings Bhd, whose share price has jumped over 11 times year-to-date, has proposed a bonus share to reward its shareholders, on the basis of two shares for every one existing share held at an entitlement date to be fixed.

UMW Holdings Bhd has appointed Malakoff Corp Bhd CEO Datuk Ahmad Fuaad Mohd Kenali as its new president and group CEO, with effect from Nov 1. Ahmad Fuaad, 50, will resign as Malakoff CEO.

Pestech International Bhd’s executive director Lim Pay Chuan has been redesignated as managing director. The 50-year-old remains as the group’s CEO. He is a substantial shareholder of Pestech with a direct shareholding of 21.33% and indirect shareholding of 0.171% as of Sept 9.  Separately, Pestech said it has declared a special dividend of 0.5 sen per share.   

Mi Technovation Bhd has entered into a Memorandum of Understanding with Accurus Scientific Co Ltd and its shareholders for the purpose of due diligence and negotiations related to the group's proposed acquisition of all or part of the equity interest in Accurus. Taiwan-based Accurus is involved in the manufacturing of solder spheres which are widely used in advanced packaging, such as ball grid array and wafer level packaging in the semiconductor industry.

https://www.theedgemarkets.com/article/top-glove-airasia-britetech-censof-myeg-euro-holdings-umw-pestech-and-mi-technovation