Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 8): Here is a brief recap of some corporate announcements that made the news on Wednesday (Feb 8), involving British American Tobacco (Malaysia) Bhd, TMC Life Sciences Bhd, MyEG Services Bhd, IHH Healthcare Bhd, UEM Sunrise Bhd, EG Industries Bhd, Crescendo Corp Bhd and Ecomate Holdings Bhd.

British American Tobacco (Malaysia) Bhd (BAT Malaysia), the country’s largest tobacco company by revenue, posted its second straight quarterly net profit decline in the fourth quarter ended Dec 31, 2022, reporting a net profit of RM61.73 million compared with RM71.46 million a year ago. The decline was partly due to the one-off prosperity tax of 33%. Quarterly revenue fell 10.6% to RM770.66 million from RM861.89 million. Nevertheless, the group declared a fourth interim dividend of 21 sen per share, amounting to RM60 million. For the full year, BAT Malaysia’s net profit was down 7.8% to RM262.52 million from RM284.86 million in FY2021, as revenue slipped 1.54% to RM2.6 billion from RM2.64 billion.

TMC Life Sciences Bhd’s net profit for the second quarter ended Dec 31, 2022 declined 20.49% to RM5.49 million from RM6.91 million a year earlier, due to a sharp increase in depreciation and tax expenses. In contrast, quarterly revenue grew 23.85% to RM73.34 million from RM59.22 million, driven by an increase in Thomson Hospital Kota Damansara's capacity and the recovery of the fertility business.

The Employees Provident Fund (EPF) has increased its direct stake in MyEG Services Bhd to 6.897%. This came after the pension fund bought 1.54 million MyEG shares on Feb 2, raising its interest in the information technology services provider to 512.97 million shares from 511.9 million shares.

IHH Healthcare Bhd, which has a private healthcare facility in Türkiye, said its operations are unaffected by the 7.8-magnitude earthquake that struck southeastern Türkiye and northwestern Syria early Monday. IHH owns a 90% interest in Acibadem Holdings, a private healthcare provider in Türkiye that offers integrated healthcare services in that country, Macedonia, Bulgaria, the Netherlands and Serbia.

UEM Sunrise Bhd’s plan to buy a piece of freehold land situated near the Kuala Lumpur Convention Centre (KLCC) has fallen through after conditions precedent under the sale and purchase agreement (SPA) were not fulfilled within the conditional period, which expired on Tuesday. As the SPA had lapsed, UEM Sunrise said the vendor Nipponkey Sdn Bhd will refund its indirect wholly-owned subsidiary Lucky Bright Star Sdn Bhd the deposit within 14 days. When UEM Sunrise first announced the proposed acquisition on Aug 4 last year, it said the total purchase price of RM384 million will be satisfied in cash of RM235.8 million and in-kind of RM148.25 million.

EG Industries Bhd has proposed a private placement to raise RM22.41 million to fund its business expansion and working capital. The placement entails the issuance of up to 40.93 million new shares — representing 10% of  EG Industries’ issued shares — to independent investors. The company said the assumed issue price of 54.75 sen represents a discount of 9.95% to the five-day volume weighted average market price of EG Industries’ shares up to the latest practicable date, of 60.8 sen.

Crescendo Corp Bhd is buying three plots of land measuring 109.855 acres in Kota Tinggi, Johor, to expand its landbank. The group said it is buying the plots, located near its existing development in Bandar Cemerlang, from Johor Land Bhd for RM67.55 million.

After spending over a year listed on the ACE Market of Bursa Malaysia, Ecomate Holdings Bhd eyes a move to the Main Market. Ecomate said it has met the requirements for the transfer to the Main Market as set out in the equity guidelines issued by the Securities Commission and the Main Market Listing Requirements of Bursa Securities. Ecomate posted a profit after tax (PAT) of RM7.09 million in its most recent audited financial year ended Feb 28, 2022 (FY2022), and an aggregate PAT of RM21.44 million over the past three audited financial years (FY2020-FY2022).

Edited ByS Kanagaraju
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