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Singapore Investment


Axiata, PetGas, Capital A, Boustead, Bumi Armada, UMW, Greatech, Yong Tai, Supermax and Caely

KUALA LUMPUR (Aug 26): Here is a brief look at some corporate announcements and news flow on Friday (Aug 26), which include Axiata Group Bhd, Petronas Gas Bhd (PetGas), Capital A Bhd, Boustead Holdings Bhd, Bumi Armada Bhd, UMW Holdings Bhd, Greatech Technology Bhd, Yong Tai Bhd, Supermax Corp Bhd and Caely Holdings Bhd.

Axiata Group Bhd posted a net loss of RM106.38 million for the second quarter ended June 30, 2022 (2QFY22), versus RM277.76 million a year ago, due to significant foreign exchange (forex) losses contributed by mobile operations in Sri Lanka. Despite posting a net loss for 2QFY22, Axiata's revenue grew 4.9% year-on-year to RM6.7 billion, from RM6.39 billion a year ago, driven by revenue growth in all geographical segments except Sri Lanka. For the first half ended June 30, 2022 (1HFY22), the group incurred a cumulative net loss of RM149.35 million versus a net profit of RM353.32 million a year ago, while cumulative revenue rose 5.8% to RM13.17 billion from RM12.45 billion.

Petronas Gas Bhd’s (PetGas) 2QFY22 net profit dropped 9.5% to RM396.5 million from RM439.07 million a year earlier, despite a rise in revenue, due to the impact of unfavourable forex movement, and higher effective tax rate from the imposition of the prosperity tax. Revenue rose 8.7% to RM1.5 billion for 2QFY22, from RM1.38 billion in 2QFY21. The group declared a second interim single tier dividend of 16 sen per share, payable on Sept 23. For 1HFY22, PetGas’ cumulative net profit fell 15.5% to RM807.08 million from RM955.47 million in the same period in FY21, despite cumulative revenue climbing 8.7% to RM2.96 billion from RM2.72 billion.

Capital A Bhd saw its net loss widen to RM931.22 million in 2QFY22, compared with RM580.06 million in 2QFY21, mainly due to share of loss from associates and foreign exchange losses. In contrast, its quarterly revenue soared 277% to RM1.465 billion from RM388.91 million, on the back of the resumption of domestic and international travels. For 1HFY22, Capital A saw its cumulative net loss widen to RM1.835 billion from RM1.35 billion, while cumulative revenue more than tripled to RM2.28 billion from RM710.05 million.

Boustead Holdings Bhd returned to black with a net profit of RM74.4 million for 2QFY22, as compared to a net loss of RM7.3 million a year ago, driven by better contributions from its property and industrial, plantation and trading, as well as finance and investment divisions. Revenue jumped 67.2% to RM4.31 billion from RM2.58 billion in 2QFY21, For 1HFY22,  the group's cumulative net profit climbed to RM364.7 million, over 10 times the RM35.8 million it made in 1HFY21, as cumulative revenue climbed 66.1% to RM7.75 billion from RM4.66 billion.

Bumi Armada Bhd's net profit for 2QFY22 rose 33% to RM186.25 million, from RM139.86 million a year earlier, mainly due to higher revenue and favourable forex movements. Bumi Armada said its revenue for the quarter rose 4.5% to RM618.43 million, from RM591.86 million previously, due mainly to higher progress of completion of the subsea construction contract work in the Caspian Sea in 2QFY22. For 1HFY22, cumulative net profit rose to RM372.01 million from RM302.65 million, on the back of a cumulative revenue of RM1.15 billion against RM1.13 billion previously.

UMW Holdings Bhd returned to the black in 2QFY22 with a net profit of RM107.2 million, in contrast with the net loss of RM3.6 million posted a year ago. Quarterly revenue jumped 52.6% to RM3.7 billion from RM2.5 billion posted for 2QFY21, on higher sales in all segments, driven by a strong sales momentum following the economic recovery under the National Recovery Plan. For 1HFY22, cumulative net loss increased to RM208.4 million from RM76.16 million, while 1HFY22 cumulative revenue grew to RM7.38 billion from RM5.4 billion.

Greatech Technology Bhd’s net profit for 2QFY22 dropped 34.4% to RM25.17 million from RM38.38 million a year ago, due to effects of prolonged supply chain constraints and cost escalation. The group’s quarterly revenue also reduced 13.4% to RM118.1 million, down from RM136.36 million in the preceding year’s corresponding quarter. For 1HFY22, the group’s cumulative net profit dropped36.4% to RM54.1 million from RM85 million a year earlier, while its cumulative revenue diminished 4.8% to RM220.25 million from RM231.5 million.

Yong Tai Bhd's net loss swelled to RM135.34 million in the fourth financial quarter ended June 30, 2022 (4QFY22), mainly due to an impairment loss of RM113.1 million. Quarterly revenue, however, soared 47.5% to RM46.24 million from RM31.35 million, mainly due to higher revenue from its property development business, supported by revenue contributions from a completed project, as well as ongoing ones. The Melaka-based company concluded the financial year ended June 30, 2022 (FY22) with a whopping net loss of RM346.7 million, from RM8.29 million in FY21. Full-year revenue declined 37.19% year-on-year to RM71.78 million in FY22, from FY21's RM114.29 million.

Glove manufacturer Supermax Corp Bhd's unit Supermax Healthcare Canada has announced a partnership with Minco Wholesale & Supply Inc under an agreement, which will see Minco distributing products of the Canadian manufacturer in North America. This includes rubber gloves and masks, besides non-woven cotton medical products.

Lingerie maker Caely Holdings Bhd filed a lawsuit against its former managing director Chuah Chin Lai and his wife Fong Nyok Yoon to recover alleged misappropriated funds amounting to RM30.55 million. Caely, together with its wholly-owned subsidiary Caely (M) Sdn Bhd, also sought exemplary damages from the duo for alleged breach of fiduciary duty during their tenure as directors in both companies.


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