Comfort Gloves, Sunway REIT, LKL International and Fitters Diversified

Published on 24 Mar 2020. | Source: theedgemarkets.com

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KUALA LUMPUR (March 23): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (March 24) may include: Comfort Gloves Bhd, Sunway Real Investment Investment Trust (SUNREIT), LKL International Bhd and Fitters Diversified Bhd.

Comfort Gloves Bhd ended its financial year ended Jan 31, 2020 (FY2020) on a stronger footing, as it reported a 9% rise in net profit in the fourth quarter to RM10.24 million from RM9.39 million a year ago, as revenue climbed 6% to RM33.18 million from RM27.89 million.

For the entire FY2020, its net profit jumped 19% to RM33.18 million from RM27.89 million in FY2019, as net profit margin improved from 6% to 7%, while revenue rose 8% to RM510.74 million from RM474.03 million.  

Sunway Malls, including three malls under the portfolio of Sunway Real Investment Investment Trust (SUNREIT), are offering RM20 million rent free to non-essential retailers during the 14-day Movement Control Order (MCO) period.

The malls are: Sunway Pyramid, Sunway Carnival, Sunway Putra — which are under the REIT — and Sunway Velocity, Sunway Big Box Retail Park, Sunway Giza and Sunway Citrine.

LKL International Bhd’s managing director Lim Kon Lian said the group is ready to fulfil the high demand for medical equipment from hospitals in Malaysia and foreign countries, in their battle against Covid-19.

Lim added that the medical/healthcare beds, peripherals and accessories provider has received numerous requests for essential medical equipment from hospitals in various states across Malaysia, as well as from foreign countries including Italy, Maldives, Mauritius, Brunei and Bangladesh.

“This includes an urgent enquiry of 50,000 hospital beds to be supplied within a five-month time frame to one of the export markets, indicating the high-level urgency to expand their capacity,” he said.

Fitters Diversified Bhd saw Datuk Ho Shu Keong, its independent non-executive director appointed in July 2019, emerge as a substantial shareholder in the fire-fighting systems specialist, after he acquired 10 million shares, representing a 2.3% stake on March 20.

Ho had purchased the block of shares via a direct business transaction for 20 sen apiece or a total RM2 million, raising his stake in the company to 6.37% or 27.67 million shares.