Hong Leong Industries Bhd (HLI) reported a 60% jump in net profit to RM69.49 million in its fourth quarter ended June 30, 2016, from RM43.41 million a year earlier, due to stronger contribution from an associate company and improved consumer products segment.
Revenue for the quarter rose 9% to RM573.6 million, from RM527.8 million in the previous year.
For the full financial year (FY16), its net profit gained 43% to RM247.22 million from RM173.23 million — mostly on a significant jump in share of profit in associatedcompanies, lower operating expenses and tax — while revenue climbed 2% to RM2.19 billion, from RM2.14 billion.
Magnum Bhd’s net profit dropped 63.5% to RM21.84 million in the second quarter ended June 30, 2016 (2QFY16), from RM59.83 million a year ago, mainly due to lower profit from the gaming division, because of high payouts, though that was mitigated by profits from the investment holdings and others division.
Revenue slipped 3.3% to RM625.78 million, from RM647.13 million.
It declared a second interim dividend of 3 sen for the period, payable on Sept 30.
Contribution from its joint venture businesses boosted Dialog Group Bhd's net profit for the fourth quarter ended June 30, 2016 (4QFY16) by 22.5% to RM77.93 million, from RM63.63 million a year ago, despite slower upstream oil and gas (O&G) activities.
Revenue for the integrated technical services provider in the O&G and petrochemical industry also expanded 24.4% to RM717.09 million, from RM576.58 million.
It recommended a final dividend of 1.2 sen per share, subject to shareholders' approval, for the period, bringing its FY16 payout to 2.2 sen, comparable to FY15's.
SapuraKencana Petroleum Bhd has delivered its sixth and final pipelay vessel to Petróleo Brasileiro SA (Petrobras) and the 550-tonne vessel commenced work in Brazil on Aug 14.
Sapura Rubi joins five other fully-integrated pipelay vessels that were delivered in stages and are all now working in Brazil's deepwater fields.
Wing Tai Malaysia Bhd booked its second straight quarterly loss in the fourth quarter ended June 30, 2016 (4QFY16), mainly due to higher operating expenses and lower other operating income.
It posted a net loss of RM11.38 million in 4QFY16, compared with a net profit of RM17.28 million a year ago. Revenue fell 6% to RM62.46 million, from RM66.5 million.
Weaker financials notwitstanding, it recommended a final dividend of 3 sen per share, amounting to RM14.2 million for FY16, subject to shareholders' approval.
Gabungan AQRS Bhd has bagged a sub-contract for the construction of the Sungai Besi-Ulu Klang Elevated Expressway (SUKE), worth RM508.22 million, from Syarikat Muhibah Perniagaan Dan Pembinaan Sdn Bhd.
The contract was for the sub-contract on the execution and completion of bridge structure works for the work package SUKE-CA3, construction and completion of the mainline and other associated works.
Damansara Realty Bhd's unit has clinched a RM124 million contract to cater food for employees working at the Rapid Temporary Executive Village and Rapid Temporary Management Office at the Refinery and Petrochemical Integrated Development (RAPID) in Pengerang, Johor.
Its unit TMR Urusharta (M) Sdn Bhd and the latter's partner, L.C Catering Sdn Bhd, accepted the job from Petronas Refinery and Petrochemical Corp Sdn Bhd today for the job, which covers a 38-month period.
Damansara Realty said L.C Catering will form a joint venture company (JVCo) to undertake the work, though the equity participation in the JVCo and terms are yet to be finalised.
Hard disk drive (HDD) manufacturer JCY International Bhd fell into the red with a net loss of RM28.6 million in its third financial quarter ended June 30, 2016 (3QFY16), from a net profit of RM32.55 million a year ago, on lower revenue and a RM13.2 million one-time write-off of properties, plants and equipment in the current quarter, due to cessation of its operation in Foshan, China.
Revenue fell 28.3% to RM343.84 million, from RM479.75 million, on lower sales volume and average selling price recorded in 3QFY16, despite at favourable U.S. dollar exchange rate against the ringgit.
It declared a third interim dividend of 1.25 sen per share for the financial year ending Sept 30, 2016 (FY16), payable at a date to be determined and announced in due course.
Petron Malaysia Refining & Marketing Bhd's net profit for the second quarter ended June 30, 2016 (2QFY16) fell 16.1% to RM61.53 million, from RM73.38 million a year ago, due to lower margin.
Quarterly revenue dropped 19.2% to RM1.83 billion, from RM2.27 billion a year earlier.
For the cumulative six-month period (1HFY16), the oil refinery firm posted a 40% earnings decline to RM78.15 million, versus RM130.2 million in 1HFY15, due to lower margin.
Revenue for the period slid 15% to RM3.49 billion, from RM4.11 billion in 1HFY15, due to lower crude oil and finished product prices.
Vitrox Corp Bhd recorded a 44.6% growth in net profit to RM14.42 million in its second quarter ended June 30, 2016 (2QFY16), compared with RM9.97 million a year ago, due mainly to lower provision for taxation with its new pioneer status granted by the International Trade and Industries Ministry.
Revenue came in 45.5% higher at RM56.64 million, from RM38.91 million in 2QFY15, due to improved contribution from its machine vision system (MVS) and automated board inspection (ABI) segments, as a result of higher demand from customers.
Hock Seng Lee Bhd’s (HSL) net profit dropped 29% to RM12.08 million in its second quarter ended June 30, 2016 (2QFY16), from RM17.04 million a year ago, on lower contribution from its construction and property development segments.
Revenue fell 28% to RM107.05 million during the quarter, from RM149.6 million last year. It declared a first interim single-tier dividend of 5% for the period, payable on Oct 10.
Its net profit in the six months ended June 30, 2016 (1HFY16) shrunk 23% to RM28.3 million, from RM36.6 million in 1HFY15, as revenue shed 26% to RM249.3 million, from RM336.06 million.
After some delays in finalising an official contract, the exploratory tie-up between Salcon Bhd and Benalec Holdings Bhd for the establishment of water supply and sewerage treatment infrastructure in the Tanjung Piai Integrated Petroleum and Maritime Industrial Park in Johor, has been called off.
Via separate bourse filings, Salcon and Benalec said the memorandum of understanding (MoU) that was inked on Aug 27 last year to explore the avenues for the setting up of the infrastructure, has lapsed and neither party has any intention of extending the validity of the MoU.
Under the terms of the MoU, the parties were to craft a definitive contract within six months from the date of the MoU — or any such extended period as may be agreed — to establish the said infrastructure.
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