KUALA LUMPUR: Here are the announcements that made headlines in Corporate Malaysia.
Eastern & Oriental Bhd
has unveiled its masterplan for its Andaman Island development project, with a gross development value of RM60bn.
Johor Corporation will be investing in a bearing manufacturing facility with Zhejiang Tianma Bearing Group Co Ltd’s subsidiary, Tianma Precision Sdn Bhd, in the Tanjung Langsat Industrial Complex in Johor in a deal worth RM440mn.
Amway (Malaysia) Holdings Bhd reported a 28.8% decline in net profit to RM32.9mn for 3QFY24 from RM46.2mn last year, as revenue fell 10.1% to RM299.8mn due to softer consumer demand for health and wellness products and home appliances.
Petronas Chemicals Group Bhd posted a net loss of RM789.0mn for 3QFY24, reversing from a RM424.0mn net profit YoY, as forex losses tied to its investment in Pengerang Petrochemical Company Sdn Bhd impacted earnings.
SD Guthrie Bhd, formerly Sime Darby Plantation Bhd, reported a 10% YoY increase in revenue to RM5.3bn for 3QFY24 but net profit dropped 37% YoY to RM766.0mn.
Hextar Industries Bhd recorded a 12.6% drop in net profit to RM11.5mn for 3QFY24 from RM13.1mn a year earlier, affected by an impairment loss and higher administrative expenses.
Sime Darby Property Bhd reported a 35% increase in revenue to RM3.3bn, while profit after tax and minority interest grew by 50% to RM413.8mn.
Perdana Petroleum Bhd saw its net profit surged 232% YoY to RM75.8mn in the 3QFY2424 due to higher revenue from increased vessel utilisation.
Sports Toto Bhd recorded a 31.3% drop in net profit to RM41.3mn for 1QFY25 compared to RM60.2mn a year ago, impacted by lower lottery sales, weaker sales performance, and forex losses.
Hap Seng Plantations Holdings Bhd reported a 46.5% YoY rise in net profit to RM55.4mn for 3QFY24, supported by higher ASP and sales volume of palm products, while revenue grew 7.7% to RM177.2mn.
MyEG Services Bhd posted a 62.6% YoY rise in net profit to RM195.1mn for 3QFY24, while revenue grew 27.8% to RM248.1mn, driven by Web 3.0 application service fees on its Zetrix blockchain platform, Zetrix token sales, and a fair value gain on its investment in Heitech Padu Bhd.
