KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Tenaga Nasional Bhd
is considering expanding its renewable energy portfolio by developing two large hydroelectric power plants in Kelantan and Pahang through its subsidiary, TNB Power Generation Sdn Bhd.
SD Guthrie is also collaborating with TH Properties Sdn Bhd to develop Malaysia’s first halal-certified managed industrial park in Negeri Sembilan.
Tuju Setia Bhd secured a RM248.0mn contract from Sime Darby Property Bhd to build Hype Residences, comprising two 39-storey towers and a podium car park in USJ 7, Subang Jaya.
Glomac Bhd plans to raise up to RM3bn via a sukuk wakalah programme for land acquisition, debt refinancing, and capital expenditure.
Powerwell Holdings Bhd secured a RM14.8mn contract to supply low-voltage electrical switchboards for a data centre in Malaysia.
YX Precious Metal Bhd will be transferred to the Main Market of Bursa Malaysia at 9 am today.
Ranhill Utilities Bhd founder Tan Sri Hamdan Mohamad has resigned as CEO, following his earlier resignation as executive chairman and director on August 2.
YTL Corp Bhd reported a 2.5% decline in net profit for 4QFY2024 to RM534.5mn from RM548.0mn a year earlier, with revenue dropping 10.2% to RM8.3bn from RM9.2bn.
Maxis Bhd saw a 7.88% rise in net profit for 2Q24, reaching RM356mn compared to RM330mn a year earlier, driven by higher consumer service revenue and enterprise business growth.
YTL Power International Bhd's net profit for 4QFY2024 fell 5.6% to RM1.07bn from RM1.14bn a year earlier, due to reduced contributions from its power generation and investment holding segments.
SD Guthrie Bhd reported a 9% increase in net profit for 2Q24, reaching RM415mn, up from RM380mn a year earlier, driven by higher prices, increased production, and improved downstream margins.
LPI Capital Bhd recorded a 23% rise in net profit for 2Q24 to RM78mn, up from RM63.4mn a year earlier, driven by stronger earnings in its general insurance segment.
Pos Malaysia Bhd reported a wider net loss of RM55.92mn for 2Q24, a 107% increase from RM27.01mn a year earlier, due to weaker performance in its postal and logistics segments.
Dutch Lady Milk Industries Bhd saw a 9.1% decline in net profit for 2Q24 to RM22.04mn from RM24.25mn a year earlier, primarily due to accelerated asset depreciation and costs related to its new facility.
Amway (Malaysia) Holdings Bhd recorded a 38.3% rise in 2Q24 net profit to RM24.55mn, up from RM17.74mn despite lower sales, benefiting from price increases and a reduction in sales incentives.
Apex Healthcare Bhd’s net profit for 2Q24 dropped 92.82% to RM23.6mn from RM329.5mn a year earlier, primarily due to lower earnings from its 40% associate Straits Apex Group Sdn Bhd.
Pharmaniaga Bhd saw its 2Q24 net profit rise 42.6% to RM2.8mn from RM2.0mn a year earlier, driven by tax refunds and lower operating costs.
Malaysia Marine and Heavy Engineering Bhd posted a net profit of RM73.92mn in 2Q24, a swing into the black from a net loss of RM388.7mn in the year-ago quarter.
