KUALA LUMPUR: Here are the announcements that made headlines in Corporate Malaysia.
Datuk Seri Mahmud Abu Bekir Taib has filed an application to intervene in Messrs Krish Maniam & Co's successful application to place Sarawak Cable Bhd
under interim judicial management.
Eco World Development Bhd said it has signed agreements to sell a land for RM266.1mn and build a data centre on another land to be leased to Pearl Computing Malaysia Sdn Bhd, an affiliate of Google.
NEXG Bhd formerly known as Datasonic Group Bhd, plans to raise up to RM133.74mn via a private placement, mainly to fund its business expansion and repay bank borrowings.
OCR Group Bhd has launched the first phase of its latest high-rise residential development named Kyra Collection in U9 Shah Alam, Selangor, according to a press statement on Tuesday.
Destini Bhd has secured a tubular running services contract worth RM10mn from EnQuest Petroleum Production Malaysia Ltd. The three-year contract, effective from Jan 24, 2025, to Jan 23, 2028, will support EnQuest’s PM8/Seligi field operations.
Pekat Group Bhd’s indirect 60%-owned subsidiary, EPE Switchgear (M) Sdn Bhd, has secured a RM97.3mn contract from Tenaga Nasional Bhd to supply power distribution equipment.
Telekom Malaysia Bhd recorded a 68.5% jump in net profit in 4QFY24, supported by the recognition of remaining one-off tax credits.
Nestle (Malaysia) Bhd’s net profit fell 72.2% YoY to RM41.1mn for 4QFY24 the lowest in 11 years since 4QFY13, from RM148.1mn in 4QFY23, primarily due to increased input costs and lower sales.
Leong Hup International Bhd saw its net profit jump 72.6% YoY in 4Q24, driven by lower feed costs following the unexpected weakening of the US dollar against currencies in which the company operates.
Aeon Co (M) Bhd’s net profit declined 26.3% YoY to RM24mn in 4QFY24 from RM32.6mn a year ago, dragged down by a one-off accrual for litigation claims and interests amounting to RM22.6mn.
Affin Bank Bhd posted a surge in net profit to RM135.1mn in 4QFY24, compared to RM39.5mn a year ago, driven by higher income and increased write-backs of credit impairment losses.
Star Media Group Bhd reported a net profit of RM57mn for 4QFY24, primarily driven by a RM55mn settlement agreement with JAKS Resources Bhd and stronger performance from its radio business.
Padini Holdings Bhd’s net profit increased 21.1% YoY to RM64.3mn in 2QFY25 from RM53.1mn a year ago, largely driven by improved gross margins and stronger festive season sales.
IOI Corp Bhd reported that forex losses and fair value losses weighed on its bottom line in 2QFY25, despite improved performance in its plantations business.
Hibiscus Petroleum Bhd posted a net profit of RM83.3mn for 2QFY25, down from RM102.3mn in the corresponding quarter last year.
Frontken Corp Bhd’s 4QFY24 net profit rose 28% YoY to a record high of RM38.1mn from RM29.7mn a year earlier, on the back of strong demand in its semiconductor and oil and gas businesses.
Bintai Kinden Corp Bhd reported a lower net profit of RM758,000 for 3QFY25, compared to RM3.5mn in the same quarter last year, as revenue declined to RM7.5mn from RM12.4mn. The higher revenue in the previous year was due to the completion of several major projects.
