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Axiata, Berjaya Assets, Berjaya Sports Toto, Complete Logistic, Dayang, Gamuda, Kerjaya, Lagenda, LHI, MSM, NCT Alliance, Nestlé, PetDag, PetGas, Revenue Group, Scomnet, Supermax, TH Plantations, Tomei, Wah Seong and Yinson

KUALA LUMPUR (Feb 22): Based on corporate announcements and news flow on Tuesday (Feb 22), companies in focus on Wednesday (Feb 23) could include: Axiata Group Bhd, Berjaya Assets Bhd, Berjaya Sports Toto Bhd, Complete Logistic Services Bhd, Dayang Enterprise Holdings Bhd, Gamuda Bhd, Kerjaya Prospek Group Bhd, Lagenda Properties Bhd, Leong Hup International Bhd (LHI), MSM Malaysia Holdings Bhd, NCT Alliance Bhd, Nestlé (Malaysia) Bhd, Petronas Dagangan Bhd (PetDag), Petronas Gas Bhd (PetGas), Revenue Group Bhd, Supercomnet Technologies Bhd (Scomnet), Supermax Corp Bhd, TH Plantations Bhd, Tomei Consolidated Bhd, Wah Seong Corp Bhd and Yinson Holdings Bhd.

Axiata Group Bhd staged a turnaround in the fourth quarter ended Dec 31, 2021 (4QFY21) with a net profit of RM116.02 million, compared to a net loss of RM255.96 million a year ago, mainly led by a higher top line and lower depreciation and amortisation.

This was offset by impairment of Ncell Axiata Ltd’s goodwill of RM338.4 million during the quarter under review.

Revenue for the quarter under review rose 10.2% to RM6.9 billion, from RM6.26 billion a year ago, on the back of growth across all operating companies except for its Nepalese subsidiary Ncell.

The group declared a second interim dividend of 5.5 sen per share, with the details of entitlement and the payment date to be determined and announced in due course.

Berjaya Assets Bhd has been sued by Violet Circle Sdn Bhd for RM97.6 million for pulling out of an agreement to acquire the remaining 50% stake in Sarawak gaming firm Megaquest Sdn Bhd.

Berjaya Assets and its wholly-owned unit Tropicfair Sdn Bhd were served with an originating summons from Violet Circle on Monday (Feb 21). Tropicfair inked a share sale agreement with Violet Circle for the acquisition on July 12, 2016, but called off the deal in mid-2020.

Berjaya Sports Toto Bhd’s net profit for its second quarter ended Dec 31, 2021 (2QFY22) declined 18% to RM53.26 million from RM65.06 million in 2QFY21, due to lower contribution from its number forecast operation, partially mitigated by higher income from its auto retailing business.

The group, which is proposing to drop the “Berjaya” brand name from its name to Sports Toto Bhd, recorded a revenue of RM1.25 billion for the quarter, up a marginal 0.9% from RM1.23 billion a year prior. It declared a second interim dividend of one sen per share for the quarter, to be paid on April 22 with an ex-date of March 30.

Complete Logistic Services Bhd reported an eight-fold leap in net profit for its third quarter ended Dec 31, 2021 (3QFY22) to RM11.3 million from RM1.26 million in the same period in the previous year on higher revenue from its trading segment and a one-off gain from the disposal of subsidiaries of RM11.2 million.

Its quarterly revenue jumped 277% to RM42.58 million from RM11.35 million a year prior.

Sarawak-based oil and gas services provider Dayang Enterprise Holdings Bhd slipped into the red with a net loss of RM288.49 million for the fourth quarter ended Dec 31, 2021 (4QFY21), versus a net profit of RM13.17 million a year earlier, dragged down by impairment losses.

Quarterly revenue, however, rose 27% year-on-year to RM200.15 million from RM158.22 million a year ago, mainly due to more contracts awarded by major oil companies during the quarter under review.

Singapore’s Land Transport Authority has awarded Gamuda Bhd operating unit Gamuda Bhd Singapore Branch’s (GBSG) joint venture with Wai Fong Construction Pte Ltd, a S$467 million (about RM1.45 billion) design and construction contract for the proposed Defu station and tunnels, which form a part of Singapore’s 29km Cross Island Line Phase 1 (CRL1) mass rapid transit (MRT) line.

GBSG and Wai Fong Construction have formed an unincorporated JV on a 60:40 basis respectively, under which GBSG is the lead member for the design and construction of the planned Defu station and tunnels along Tampines Road.

Kerjaya Prospek Group Bhd has bagged its largest ever construction contract worth RM710.1 million for the construction of the main building and external works for a proposed residential development project in Ampang – Astrum Ampang.

Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd accepted a letter of award (LOA) from Nikmat Merpati Sdn Bhd and that the project is expected to be completed in 53 months from its commencement date in June 2022.

Lagenda Properties Bhd’s net profit rose 21% to RM56.45 million for the fourth quarter ended Dec 31, 2021 (4QFY21), from RM46.5 million a year earlier, as a result of its catch-up initiatives.

This is despite revenue for the quarter slipping 7.88% to RM251.11 million from RM272.59 million in 4QFY20. The group declared a second interim dividend of 3.5 sen per share, to be paid on April 11, with an ex-date of March 24.

Leong Hup International Bhd (LHI) has posted a nearly 28% drop in net profit to RM37.99 million for the fourth quarter ended Dec 31, 2021 (4QFY21) from RM52.56 million in the same period in the previous year, underpinned by elevated input cost of feed which affected the group’s livestock and poultry-related products segment. The group said its quarterly revenue, however, rose by 12.88% to RM1.81 billion from RM1.61 billion, on the back of stable revenue growth for both livestock and poultry-related products segment and feedmill segment.

MSM Malaysia Holdings Bhd, the country’s leading refined sugar producer, slipped into the red in the fourth quarter ended Dec 31, 2021 (4QFY21), posting a net loss of RM16.16 million compared with a net profit of RM56.22 million a year ago, mainly due to lower gross margins caused by higher raw sugar, and freight and gas costs during the current quarter under review.

Still, revenue for the quarter improved by a marginal 1.9% to RM642.02 million from RM630.33 million a year ago on increased average selling price.

Property developer NCT Alliance Bhd, formerly known as Grand-Flo Bhd, saw its net profit surge 3.5 times to RM16.96 million for its fourth quarter ended Dec 31, 2021 (4QFY21) from RM4.77 million a year ago, mainly contributed by stronger take-up rate of its Grand Ion Majestic project in Genting Highlands, Pahang. Quarterly revenue also jumped 236.9% to RM119.61 million, from RM35.5 million a year ago.

Nestlé (Malaysia) Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) fell 15% to RM112.1 million from RM132.49 million a year ago, mainly due to the impact of higher commodity prices and operating expenses.

Quarterly revenue rose 7% to RM1.47 billion from RM1.37 billion in the previous year driven by higher domestic and export sales.

The board has declared a third interim dividend of RM1.02 per share – 10 sen higher than the third interim dividend of 2020 – to be paid on May 19, 2022.

Petronas Dagangan Bhd (PetDag)’s net profit in the fourth quarter ended Dec 31, 2021 (4QFY21) rose by 54% to RM137.19 million from RM89.21 million in the previous year’s corresponding quarter, supported by reopening of more economic sectors which catalysed demand for fuel.

The group said quarterly revenue increased by 61% to RM7.06 billion from RM4.39 billion, on the back of higher average selling prices and sales volume. The group declared an interim dividend of 26 sen per share to be paid on March 24.

Petronas Gas Bhd’s (PetGas) net profit for the fourth quarter ended Dec 31, 2021 fell 10% to RM452.63 million from RM503.35 million a year earlier, dragged by higher operating costs. PetGas said revenue increased by 7.8% year-on-year to RM1.49 billion from RM1.39 billion due mainly to higher revenue from its utilities segment.

The company also declared a special dividend of 10 sen per share and fourth interim dividend of 22 sen to be paid on March 22.

Revenue Group Bhd is teaming up with China UnionPay’s subsidiary UnionPay International to provide a Health Declaration Certificate (HDC) application for Malaysians travelling to China via its recently launched super app – the wanna App.

The cashless payment solution provider said the HDC is a health code that specifies an individual’s health and Covid-19 vaccination status.

Cables and wires manufacturer Supercomnet Technologies Bhd (Scomnet) said it had posted its highest ever revenue and net profit for its financial year ended Dec 31, 2021 (FY21) at RM145.44 million and RM25.29 million respectively.

Scomnet said its 12-month net profit increased by 8% to RM25.29 million, from RM23.5 million last year. Its cumulative revenue for FY21 jumped 13% to RM145.44 million previously due to higher sale orders received and adjustments in selling price to factor in increase in costs of goods sold.

Supermax Corp Bhd’s net profit for the second quarter ended Dec 31, 2021 (2QFY22) retreated to near pre-pandemic levels at RM47.84 million, hit by a US market ban and an order freeze in Canada, which added to sharp contraction in margins and industry demand.

On a year-on-year basis, Supermax’s 2QFY22 net profit fell 95.48% from RM1.06 billion in 2QFY21, while revenue plunged 73.8% to RM523.54 million from just under RM2 billion.

TH Plantations Bhd reported an improvement of 15% for its fourth quarter ended Dec 31, 2021 (4QFY21) net profit at RM1.83 million from RM1.59 million a year prior, citing changes in estimates in relation to the accounting for its biological assets.

Quarterly revenue, meanwhile, rose 71% to RM247.55 million from RM144.55 million, mainly attributable to higher revenue from its oil palm plantations amid higher sales volume for crude palm oil (CPO) and palm kernel (PK), as well as higher average realised prices for CPO, PK and fresh fruit bunch.

Tomei Consolidated Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) surged 43% to RM16.65 million from RM11.67 million a year prior, as its revenue for the quarter under review rose 39% to RM233.18 million as compared to RM167.84 million a year earlier, contributed by its operating segments’ stronger showing.

Piping expert Wah Seong Corp Bhd has been awarded a US$254.1 million (approximately RM1.06 billion) midstream contract by East African Crude Oil Pipeline (EACOP) Ltd.

Its indirect subsidiaries, Italy-based ISOAF S.r.L and Tanzania-based ISOAF TZ Ltd, have been awarded the contract for the provision of line pipe thermal insulation services for the East African crude oil pipeline project and feeder line, located between the town of Kabaale in Uganda and the port of Tanga in Tanzania.

Wah Seong said the work and services are expected to be completed within 30 months from Feb 18, 2022.

Floating production storage offloading (FPSO) fleet operator Yinson Holdings Bhd has inked two contracts with Enauta Energia SA for the provision, operation and maintenance of an FPSO asset in Brazil, pursuant to a letter of intent inked in December last year.

The FPSO will be deployed in the Atlanta Field in the Santos Basin offshore Brazil for US$505 million (about RM2.14 billion).


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