KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Dialog Group Bhd
is selling its 60% stake in its Saudi Arabian joint venture, Dialog Jubail Supply Base Company Ltd, for 47.5mn Saudi riyals (RM55.0mn) to its JV partner, Sedres Trading & Maritime Services Co Ltd.
A consortium led by Rohas Tecnic Bhd has won a RM123.0mn contract from Gamuda Bhd to provide fabrication and installation works under Package 2 of the Sg Rasau water treatment plant project in Selangor.
Malakoff Corp Bhd’s wholly-owned subsidiary Prai Power Sdn Bhd has received a one-year extension to its power purchase agreement from Tenaga Nasional Bhd.
Varia Bhd, previously known as Stella Holdings Bhd, has secured a RM410.3mn flood mitigation project in Segamat, Johor.
S P Setia Bhd says it has initiated legal action against its former senior management and a former director of the group, over alleged breaches of duties linked to the purchase of lands in Kota Kinabalu, Sabah, and the sale of units under the group’s Aeropod project.
Steel Hawk Bhd’s initial public offering has been oversubscribed by 276.83 times ahead of its transfer of listing to the ACE Market of Bursa Malaysia from the LEAP Market.
Public Bank Bhd’s net profit rose 10% in the 2QFY24 to RM1.8bn from RM1.6bn in the same period a year earlier, thanks to higher net interest income and non-interest income.
RHB Bank Bhd’s net profit fell by 11% in 2QFY24 to RM722.3mn compared with RM808.7mn over the same period last year, dragged by provisions.
Sime Darby Bhd closed the FY24 on a strong footing, with its net profit more than doubling to RM3.3bn from RM1.7bn in the previous year largely due to a RM2.0bn gain from the disposal of Ramsay Sime Darby Health Care in December 2023.
Hengyuan Refining Co Bhd’s net loss for 2QFY24 was RM199.5mn versus a net loss of RM95.5mn in the prior year, owing to a temporary shutdown of its long residue catalytic cracking unit, and lower average cracks margins from its main products.
Gas Malaysia Bhd’s 2QFY24 net profit rose 12.5% to RM110.0mn from RM97.8mn a year earlier, driven by higher natural gas sales, tolling fees and joint venture contributions.
Hibiscus Petroleum Bhd’s 4QFY24 net profit fell 11.8% YoY to RM108.7mn, on the back of equipment impairment and higher expenses,
Leong Hup International Bhd’s 2QFY24 net profit rose 48.4% to RM96.5mn from RM65.0mn a year earlier, helped by higher prices and sales volume of day-old chicks and broiler chickens in Indonesia and the Philippines, as well as higher feed mill margins.
FGV Holdings Bhd has returned to the black with a net profit of RM86.4mn in 2QFY24 compared with a net loss of RM12.9mn a year earlier, on higher profits in the plantation, and logistics and support divisions.
Malaysian Pacific Industries Bhd’s saw its 4QFY24 net profit surge nearly 11-fold to RM83.0mn as compared to RM8.2mn a year ago, thanks to higher revenue from its Asia and Europe market segments, as well as a reversal from its executive share scheme provision during the quarter.
Inari Amertron Bhd’s net profit for 4QFY24 fell 17.5% to RM54.7mn from RM66.3mn a year earlier amid unfavourable forex movements, higher operating costs and early staging of new products.
Kerjaya Prospek Group Bhd’s 2QFY24 net profit grew 17.5% to RM37.1mn from RM31.6mn in 2QFY23, thanks to an upswing in construction activities.
Cahya Mata Sarawak Bhd’s 2QFY24 net profit jumped 26.6% YoY to RM33.4mn, driven by stronger gross profit margin in its cement and oiltools divisions due to lower clinker cost and the sale of higher margin products.
Padini Holdings Bhd’s net profit for 4QFY24 dropped 54.1% to RM26.3mn from RM57.3mn, following a decline in gross profit margin amid rising staff costs and a dip in revenue.
