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AMMB, Public Bank, Press Metal, Sime Darby Property, TM, Pharmaniaga, BCM Alliance, Frontken, IGB, IOI Properties, MPI, Masteel, MBM, MyEG, Paramount, Samchem, Serba Dinamik, TIME dotCom, Tropicana, UMW, Unisem

KUALA LUMPUR (Feb 25): Based on corporate announcements and news flow on Friday (Feb 25), companies that may be in focus on Monday (Feb 28) include AMMB Holdings Bhd, Public Bank Bhd, Press Metal Aluminium Holdings Bhd, Sime Darby Property Bhd, Telekom Malaysia Bhd, Pharmaniaga Bhd, BCM Alliance Bhd, Frontken Corp Bhd, IGB Bhd, IOI Properties Group Bhd, Malaysian Pacific Industries Bhd, Malaysia Steel Works (KL) Bhd, MBM Resources Bhd, MyEG Services Bhd, Paramount Corp Bhd, Samchem Holdings Bhd, Serba Dinamik Holdings Bhd, TIME dotCom Bhd, Tropicana Corp Bhd, UMW Holdings Bhd, and Unisem (M) Bhd.

AMMB Holdings Bhd reported a nearly 53% jump in net profit for the third quarter ended Dec 31, 2021 (3QFY22) to RM403.29 million against RM263.83 million in the previous corresponding quarter despite higher loan provision caused by exposure to the local oil & gas (O&G) industry.

A tax credit amounting to RM234 million was booked in 3QFY22, which helped lift the banking group's quarterly net profit that would have been dragged down by higher net impairment charge of RM337 million. The banking group's quarterly revenue went up marginally to RM1.183 billion from RM1.176 billion

Public Bank Bhd, the country’s third largest lender, posted a 20.3% increase in net profit to RM1.38 billion for the fourth quarter ended Dec 31, 2021 (4QFY21) from RM1.15 billion a year ago, mainly due to lower loan impairment allowance of RM274.3 million and higher net interest income of RM149.9 million. However, this was partially offset by lower investment and other income.

Quarterly revenue, however, fell by a marginal 1.2% to RM4.86 billion from RM4.92 billion. The banking group declared a second interim dividend of 7.7 sen per share for the financial year ended Dec 31, 2021 (FY21), payable on March 22 – bringing total dividends for the year to 15.2 sen.

Press Metal Aluminium Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) nearly doubled to RM285.82 million from RM145.25 million, bolstered by higher revenue and contribution from associate companies.

The jump in 4QFY21’s earnings came as revenue for the largest aluminium smelter in Southeast Asia jumped 63.9% to RM3.37 billion from RM2.05 billion, supported by higher average aluminium prices and increased production output from Phase 3 of the Samalaju Smelter, which achieved full commissioning in October 2021.

The group declared a fourth interim dividend of one sen per share for FY21, payable on March 31 this year. This raised its FY21 payout thus far to 3.75 sen.

Sime Darby Property Bhd said it does not rule out the possibility of establishing a real estate investment trust “down the road” ahead as part of the group’s transformation journey from a pure-play property developer into a real estate company.

This is after, among others, the creation of an industrial development fund, which will be part of the investment and asset manager business under Sime Darby Property’s SHIFT 25 business model.

Telekom Malaysia Bhd’s (TM) net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) fell 69.2% to RM79.94 million from RM259.44 million in the same period the previous year.

Quarterly revenue, however, was up 5.06% to RM3.15 billion from RM3 billion in the same period a year ago with strong increase in revenue from internet and data. The telecommunication giant also declared an interim single-tier dividend of six sen per share for FY21, payable on March 31. The total dividend for FY21 is 13 sen per share.

Pharmaniaga Bhd has inked Memoranda of Understanding (MOUs) with two biotechnology companies based in Thailand for vaccine research & development and bioequivalence solutions as well as pharmaceutical product development innovation.

The pharmaceutical company said the signing was a step up in its efforts to become a major regional pharmaceutical player by partnering with technical firms in Thailand. Pharmaniaga said the MOUs were signed between Pharmaniaga LifeScience Sdn Bhd (PLS) and BioNet Group, and Pharmaniaga Research Centre Sdn Bhd (PRC) with Bio-Innova Co Ltd. PLS and PRC are wholly-owned subsidiaries of the group.

BCM Alliance Bhd has disposed of its entire stake in printed circuit board (PCB) company BSL Corp Bhd at a RM5.51 million loss, citing "market uncertainties" and the conflict between Russia and Ukraine as its rationale.

This comes after the group had spent an aggregate sum of RM7.13 million in cash to acquire a 4.38% stake or 4.29 million shares in BSL from the open market between Aug 25, 2021 to Nov 2, 2021. BCM Alliance said it had disposed of its entire stake in BSL on the open market between Sept 13, 2021 and Feb 18, 2022 for a total RM8.32 million.

Frontken Corp Bhd's net profit for its fourth quarter ended Dec 31, 2021 (4QFY21) rose 26.9% to a record high of RM29.55 million from RM23.29 million in the corresponding quarter a year earlier, mainly attributable to improved revenue, strict cost management and continual process enhancements that led to better production efficiency.

Revenue expanded by 20.2% to RM121.49 million — the highest quarterly top line seen — from RM101.04 million. Frontken declared a second interim dividend of 2.5 sen per share, with the entitlement and payment dates to be announced later. This raised its total dividend declared for FY21 to four sen per share, unchanged from FY20.

IGB Bhd returned to the black in the fourth quarter ended Dec 31, 2021 (4QFY21) with a record net profit of RM233.77 million compared to a net loss of RM10.44 million a year ago, amid an RM193.4 million one-off gain from the disposal of a joint-venture company.

Quarterly revenue rose 9% to RM300.45 million from RM276.67 million in 4QFY20, due to higher contributions from its property development, hotel and investments divisions. The group declared an interim dividend of five sen per share, to be paid on March 18, with an ex-date of March 10. This brought the total dividends declared for FY21 to 17 sen per share.

IOI Properties Group Bhd’s net profit for the second quarter ended Dec 31, 2021 (2QFY22) fell 26.5% to RM125.72 million from RM170.98 million a year ago, due to fair value loss of IOI Mall, Xiamen, amounting to RM98.4 million. Quarterly revenue grew 19.2% to RM704.83 million from RM591.34 million a year earlier, on the back of higher revenue contribution from all its business segments.

Malaysian Pacific Industries Bhd (MPI), which was the star performer in terms of share price in 2021, posted a net profit of RM85.32 million in the second quarter ended Dec 31, 2021 (2QFY22) – the highest level seen in two decades since 2QFY01.

The semiconductor company’s net profit was 27.3% higher year-on-year (y-o-y) compared with RM67.04 million in the corresponding quarter a year ago amid higher contribution from its Asia, US and Europe segments. Quarterly revenue jumped by 25.6% to RM608.01 million from RM483.94 million.

Malaysia Steel Works (KL) Bhd (Masteel) reported a 47% rise in net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) to RM12.04 million from RM8.21 million a year earlier, boosted by a tax credit amounting RM5.06 million. Its quarterly revenue rose 24% to RM463.87 million from RM372.76 million a year ago, due to higher steel bar selling prices, in line with the increase in global and domestic steel prices.

MBM Resources Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) surged 52% to RM109.52 million compared to RM71.94 million in the year-ago period, driven by improved performance of its auto trading and auto parts manufacturing businesses.

Quarterly revenue was up marginally to RM562.18 million from RM560.42 million a year earlier. The group also declared a dividend of 15 sen per share, comprising a special dividend of 10 sen and a second interim dividend of five sen, to be paid on March 30 this year.

MyEG Services Bhd posted a 6.7% increase in net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) to RM80.58 million from RM75.51 million in the previous corresponding quarter last year, underpinned by higher contribution from its commercial services and higher transaction volumes under its concession services.

Quarterly revenue surged 56.4% to RM234.42 million from RM149.89 million in 4QFY20. The group proposed a final dividend of 1.03 sen per share, subject to shareholder’s approval at a forthcoming annual general meeting. The proposed final dividend brings total dividends for FY21 to 1.28 sen.

Paramount Corp Bhd's net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) surged almost seven-fold to RM24.35 million from RM3.53 million a year ago. The group said its quarterly revenue soared 68.5% to RM317.34 million from RM188.39 million in the corresponding quarter of the previous year. The group has proposed a final dividend of three sen per share for the financial year ended Dec 31, 2021 (FY21).

Samchem Holdings Bhd posted a record net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) as it leapt 32% to RM23.92 million from RM18.11 million a year prior, underpinned by higher sales volume and average selling prices.

The integrated chemicals and lubricants distributor’s quarterly revenue surged 41.3% to RM430.53 million from RM304.6 million in the previous corresponding quarter, due to higher sales volume in line with the reopening of its businesses in all of the group’s key markets. The company declared a fourth interim dividend of 1.5 sen per share for 4QFY21, bringing the total dividend per share to 4.5 sen for FY21.

Serba Dinamik Holdings Bhd has announced the appointment of Ahmad Amryn Abd Malek and Felix Chin Wui Choong as independent directors effective Friday (Feb 25). The oil and gas engineering services company said that Chin and Ahmad Amryn have also been appointed to its audit and risk committee, while Ahmad Amryn was also appointed to the company’s nomination and remuneration committee.

TIME dotCom Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) rose to RM108.59 million from RM94.36 million a year earlier while revenue grew to RM371.08 million from RM314.87 million.

It also said that it has adopted a new dividend policy to pay an annual dividend of up to 50% of its audited consolidated profit after tax — compared with 25% previously — following the company reporting a full-year net profit of RM393.16 million and revenue growth to RM1.4 billion from RM1.22 billion year earlier, helped by retail and enterprise customers.

Property developer Tropicana Corp Bhd saw its net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) drop by 83.2% to RM7.94 million, from RM47.35 million a year ago, mainly due to the absence of land disposals in the quarter under review.

In 4QFY20, the group benefitted from the disposals of two parcels of land in Johor Bahru for a combined RM157.4 million. Quarterly revenue also fell 26.8% to RM263.76 million from RM360.2 million the year before.

UMW Holdings Bhd's net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) surged 55% to RM239.97 million from RM154.86 million, supported by strong contributions from its automotive and equipment segments as demand recovered after the lifting of the Full Movement Control Order.

The group’s quarterly revenue rose by 12% to RM3.65 billion from RM3.24 billion, underpinned by higher vehicle and equipment sales. It declared a final dividend of 5.8 sen, to be paid on April 29.

Unisem (M) Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) dipped 5.7% y-o-y to RM57.45 million from RM60.92 million. Unisem said revenue for the quarter rose 16.13% to RM426.39 million from RM366.37 million. Unisem declared a dividend of two sen per share to be paid on April 8.

https://www.theedgemarkets.com/article/ammb-public-bank-press-metal-sime-darby-property-tm-pharmaniaga-bcm-alliance-frontken-igb

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