Corporate digest

Samurai 2K Aerosol

THE aerosol coating specialist's net profit for the year ended March 31 was down 10.8 per cent to RM10.4 million (S$3.4 million) from RM11.7 million a year ago, on lower revenue. Earnings per share for FY2019 was 9.50 sen versus 11.4 sen a year ago.

The Catalist-listed company declared a final dividend of S$0.005 per share, compared to a S$0.006 per share dividend payout a year ago.

Revenue dropped 19.3 per cent to RM72.6 million from RM90 million on weaker exports to Indonesia.

Indonesia contributed about 39 per cent of Samurai 2K's revenue versus close to 58 per cent a year ago.

HC Surgical Specialists

CATALIST-LISTED HC Surgical Specialists is acquiring 25 per cent of general practitioner (GP) clinic operator Medistar Services for S$480,000 to expand its GP network. It will fund the acquisition through net proceeds from its initial public offering in November 2016, the medical services group said in a regulatory filing.

The group has entered into a sales and purchase agreement with vendors, GPs Tan Hooi Hwa, Pang Heng Mun Roger and Wong Yik Mun, for 25 per cent of the company. This was done together with Lai Junxu, a GP with the group, who will acquire 5 per cent of Medistar for S$96,000.

Mirach Energy

MAINBOARD-LISTED Mirach Energy said on Friday that chief executive Chan Shut Li will be relinquishing his position, but remain as executive chairman of the oil and gas company's board.

His replacement is Liu Kaichun, CEO of Hubei Chuanggou Products Trading Services and a lawyer in China.