KUALA LUMPUR (Aug 17): Here is a brief look at some corporate announcements and news flow on Wednesday (Aug 17), which involve AMMB Holdings Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Swift Haulage Bhd, Teladan Setia Group Bhd, Kuala Lumpur Kepong Bhd, Sime Darby Bhd, Tenaga Nasional Bhd, PMB Technology Bhd and Malaysia Pacific Corp Bhd.
AMMB Holdings Bhd's net profit for the first quarter ended June 30, 2022 (1QFY23) rose 8.42% to RM419.19 million, from RM386.6 million a year ago, on the back of lower impairment charges. The banking group said revenue for the quarter, however, dipped to RM1.16 billion, from RM1.24 billion previously, due to lower trading and investment income.
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) delivered its second straight profitable quarter with 2QFY22, due to the absence of cost provision associated with the Covid-19 pandemic, coupled with the recovery of dry-docking activities at its yard, thanks to the reopening of Malaysia's international borders. The group reported a RM21.97 million net profit for 2QFY22, versus a RM34.38 million net loss a year ago, while revenue grew 32.5% year-on-year to RM400.63 million from RM302.45 million. For the cumulative first half ended June 30, 2022, the group recorded a net profit of RM24.69 million, versus a RM138.73 million net loss for the corresponding period a year ago, as revenue grew 27% to RM818.41 million from RM646.02 million.
Integrated logistics service provider Swift Haulage Bhd's net profit in 2QFY22 rose 13.71% to RM13.19 million from RM11.6 million a year ago, driven by the easing of Covid-19 restrictions and recovery of business activities. Quarterly revenue gained 11.04% to RM160.12 million from RM144.2 million previously. Swift declared an interim dividend of one sen per share, to be payable on Oct 21. For the cumulative six months ended June 30, 2022, net profit increased 23.42% to RM27.5 million from RM22.28 million a year before, as revenue expanded 7.77% to RM320.42 million from RM297.32 million.
Teladan Setia Group Bhd's net profit in 2QFY22 jumped 85.85% to RM14.24 million from RM7.66 million in the same quarter last year, as revenue soared 86.61% to RM75.61 million from RM40.52 million, mainly due to better sales from Taman Desa Bertam Phases 2, 3A and 3B as well as Bali Residences. The Melaka-based property developer declared an interim dividend of 0.6 sen per share, to be paid on Sept 19. For the cumulative first half ended June 30, 2022, Teladan Setia's net profit grew 60.58% to RM23.71 million from RM14.77 million, as revenue increased by 64.29% to RM134.51 million from RM81.87 million.
Kuala Lumpur Kepong Bhd's (KLK) net profit for 3QFY22 slipped 28.78% to RM558.27 million from RM783.94 million a year earlier, due to the absence of a disposal gain from an associate in the year before. Quarterly revenue rose 34.58% to RM6.96 billion from RM5.17 billion, as its plantation segment reported a substantial increase in profit, driven by higher crude palm oil selling prices, which rose 41%, as well as a 41% increase in palm kernel selling prices. For the cumulative nine months ended June 30, 2022, KLK's net profit rose 4.44% to RM1.7 billion from RM1.63 billion in the previous corresponding period, while revenue climbed 44.28% to RM20.17 billion from RM13.98 billion.
Sime Darby Bhd's net profit for 4QFY22 rose 31.75% to RM278 million, from RM211 million a year prior, on the back of improved contribution from its industrial division. Its revenue for the quarter, however, slipped 3.97% to RM10.85 billion from RM11.3 billion for 4QFY21. The group declared a second interim dividend of 7.5 sen for 4QFY22, to be paid on Sept 30. For the full FY22, Sime Darby’s net profit declined 22.6% to RM1.1 billion from RM1.43 billion for FY21, due to a one-off gain of RM272 million in FY21 from the divestment of the group's stake in Tesco Malaysia. The group's cumulative revenue for FY22 fell 4.06% to RM42.5 billion, from RM44.3 billion for FY21. The conglomerate expects its FY23 to be tough in the face of continuing headwinds from the Covid-19 pandemic, rising inflation and supply chain issues.
Tenaga Nasional Bhd (TNB) announced it will invest around RM20 billion per year over the next 28 years as capital expenditure for initiatives to fast-track TNB's Energy Transition Plan aimed at reducing its emissions intensity to net zero by 2050.
PMB Technology Bhd's subsidiary PMB Land (Sg Besi) Sdn Bhd has proposed to sell land in Kuala Lumpur for RM37 million and use the proceeds to repay a loan and for working capital. The disposal of the freehold land, measuring 6,658 square metres, is part of the company's plans to streamline its operations by focusing on its core business of aluminium smelting and channelling the proceeds towards its daily operating activities, it said in a filing with Bursa Malaysia.
Malaysia Pacific Corp Bhd (MPCorp) — whose shares will be suspended from trading effective from Friday (Aug 19) — has bagged two subcontracts worth RM44.91 million from Windsor Aims Machinery Sdn Bhd. It has inked a memorandum of understanding with Windsor Aims to negotiate for a joint collaboration agreement or any other agreements for the implementation of its proposed regularisation plan. The Practice Note 17 company said its wholly owned subsidiary Euronium Construction Sdn Bhd has received two letters of award to undertake the subcontract works.