KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Malayan Banking Bhd
’s net profit for the second quarter ended June 30, 2024 (2QFY2024) rose 8.2% to RM2.53 billion from RM2.34 billion in the same period a year earlier, thanks to lower provisions and tax expenses.
Genting Plantations Bhd’s net profit for the second quarter ended June 30, 2024 (2Q 2024) rose to RM85.12 million from RM70.97 million in the same period last year, driven by gains in the plantation segment.
KLCCP Stapled Group Bhd said its 2QFY2024 net profit rose 5.67% to RM191.06 million from RM180.8 million a year ago, on commendable performances from all businesses, especially the retail and hotel segments.
Sunway Bhd posted a net profit of RM270.47 million for 2QFY2024, up 80.4% from RM149.43 million a year earlier, on stronger operating performance across all business segments, coupled with gain of RM89.4 million from redemption of an investment and newly acquired investment properties of an associate.
Axiata Group Bhd returned to the black in 2QFY2024 with a net profit of RM134.9 million, compared with a net loss of RM576.22 million a year earlier, contributed by strong performance from all operating companies except Link Net and Dialog.
Malakoff Corp Bhd posted a net profit of RM93.6 million for 2QFY2024, compared to a net loss of RM318.7 million a year ago, on the back of higher earnings contributions from two Johor-based power plants amid reduced coal costs, coupled with a compensation received for compulsory land acquisition.
DRB-Hicom Bhd posted a net loss of RM17.08 million in 2QFY2024 against a net profit of RM33.71 million a year ago, mainly due to weaker financial performance in Proton Holdings Bhd and losses from Pos Malaysia Bhd following reduced revenue in its international business.
AirAsia X Bhd reported a 13% fall in net profit for 2QFY2024 to RM4.82 million from RM5.54 million a year earlier, on lesser travels due to the traditionally weaker travel season.
Supermax Corp Bhd suffered its largest quarterly net loss of RM127.93 million for its fourth quarter ended June 30, 2024 (4QFY2024), hit by a write down of high price inventory at an overseas subsidiary amounting to RM72.85 million.
IOI Properties Group Bhd’s 4QFY2024 net profit jumped more than five times in 4QFY2024 from a year earlier thanks largely to a revaluation gain.
QL Resources Bhd’s net profit rose 16% to RM107.4m in 1QFY2025 from a year earlier mainly led by its convenience store chain business.
IJM Corp Bhd’s net profit for 1QFY2025 fell 13.68% to RM86.88 million from RM100.64 million a year earlier, dragged mainly by unrealised foreign exchange and fair value losses.
