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Singapore Investment


Public Bank, RHB, KPJ Healthcare, Ta Ann, Mah Sing, Time dotCom, MPI, Solarvest, Axiata, PetChem, IHH, Sime Darby Property, Sime Darby Plantation and Caely

KUALA LUMPUR (Aug 29): Here is a brief look at some corporate announcements and news flow on Monday (Aug 29), which include Public Bank Bhd, RHB Bank Bhd, KPJ Healthcare Bhd, Ta Ann Holdings Bhd, Mah Sing Group Bhd, Time dotCom Bhd, Malaysian Pacific Industries Bhd, Solarvest Holdings Bhd, Axiata Group Bhd, Petronas Chemicals Group Bhd, IHH Healthcare Bhd, Sime Darby Property Bhd, Sime Darby Plantation Bhd and Caely Holdings Bhd.

Public Bank Bhd’s net profit in the second quarter ended June 30, 2022 (2QFY22) rose 2.35% to RM1.42 billion from RM1.38 billion a year ago on lower loan impairment allowance and higher net interest allowance. The increase was more modest than its 12.66% growth in pre-tax profit to RM2.02 billion from RM1.8 billion for 2QFY21, due to the impact of Cukai Makmur (the one-off prosperity tax). Revenue rose slightly to RM4.97 billion from RM4.92 billion a year ago. The bank declared a first interim dividend of eight sen per share.

RHB Bank Bhd's net profit fell 9.5% to RM634.83 million in 2QFY22 from RM701.34 million a year ago mainly due to lower non-fund based income and higher operating expenses. Revenue rose 2.1% to RM2.99 billion from RM2.93 billion in 2QFY21. The bank declared an interim dividend of 15 sen per share, consisting of a cash payout of 10 sen per share and an electable portion under the dividend reinvestment plan of five sen per share.

KPJ Healthcare Bhd's net profit for 2QFY22 jumped more than threefold to RM27.09 million from RM6.96 million a year earlier, due to an increase in hospital activities. The medical group said revenue for the quarter rose to RM707.57 million from RM632.83 million previously, due to an increase in the level of activities at its hospitals as evident from increased inpatient visits by 14%. KPJ declared a dividend of 0.55 sen a share to be paid on Oct 21.

Ta Ann Holdings Bhd saw its net profit expand 24.12% to RM92.02 million in 2QFY22 compared with RM74.14 million in the same quarter last year, mainly attributed to higher average selling prices achieved for crude palm oil, fresh fruit bunches and plywood products. Revenue  grew 43.66% to RM654.15 million from RM455.34 million. The group declared a third interim dividend of 15 sen per share.

Mah Sing Group Bhd’s net profit for 2QFY22 rose 6.52% to RM43.04 million from RM40.4 million last year, driven by the group's successful launches of new parcels of affordably priced homes and good take-up of its other ongoing projects. Quarterly revenue grew 23.56% to RM542.01 million from RM438.67 million.

TIME dotCom Bhd's net profit for 2QFY22 rose 27.63% to RM118.28 million from RM92.67 million a year ago, propelled by higher revenue growth from both its data and data centre product segments as well as larger net gain on foreign exchange amounting to RM27.1 million. Time dotCom's 2QFY22 net profit of RM118.28 million is also its highest since 2QFY16, when it posted RM199.8 million. Quarterly revenue grew 7.61% to RM373.59 million from RM347.18 million in the same period a year earlier mainly due to higher recurring data revenue.

Malaysian Pacific Industries Bhd's (MPI) net profit rose 7.17% to RM80.49 million in its fourth quarter ended June 30, 2022 (4QFY22) from RM75.1 million in the same period last year, helped by double-digit contributions from all of its geographical segments. Quarterly revenue climbed 13.9% to a new record high of RM612.04 million from RM537.34 million, as the Asia segment grew 12%, the US segment grew 23%, and the Europe segment grew 15%.

Solarvest Holdings Bhd's net profit for the first quarter ended June 30, 2022 (1QFY23) soared to RM4.33 million from RM174,000 in the same period last year, as construction activities continued to pick up following the country's transition to the endemic stage of Covid-19. Quarterly revenue jumped 131.47% to RM52.66 million from RM22.75 million.

A mandatory offer was made after Axiata Group Bhd and its Indonesian unit XL Axiata completed their purchase of 66% of Indonesian internet services provider Link Net. The offer to buy as many as 934.8 million shares at 4,800 rupiah each is worth as much as 4.49 trillion rupiah (RM1.35 billion).

Mentri Besar Terengganu (Incorporated), a Terengganu state-owned company, is looking into acquiring a 5% stake in PCG PCC Oxyalkylates Sdn Bhd. The company is a joint venture between Petronas Chemicals Group Bhd and German firm PCC SE, and is principally  involved in the production of chemical feedstocks and specialty chemicals production.

IHH Healthcare Bhd said it has been de-risking its lira-denominated revenue exposure as the hospital operator recognises the potential impact of the hyperinflationary environment in Türkiye where inflation has exceeded 100%.

Sime Darby Property Bhd (SDP) is to acquire 948.8 acres of land in Kapar, Selangor from Sime Darby Plantation Bhd in accordance with one of the nine call option agreements entered into between both parties in the demerger exercise back in 2017. SDP said it has issued a notice to exercise the call option to acquire the Kapar land for RM618 million.

Three shareholders of Caely Holdings Bhd with a collective shareholding of over 10% have succeeded in their bid to remove the lingerie manufacturer’s board of directors. The shareholders — Leong Seng Wui, Kok Kwang Lim and Valhalla Capital Sdn Bhd — were initially unable to remove the seven directors at an extraordinary general meeting (EGM) on June 15 after the meeting was adjourned. However, the High Court on Monday ruled that the adjournment was invalid and that the EGM was deemed to have continued with the resolutions to remove the directors approved. The EGM sought to replace the seven directors — including then-chairman Datuk Loh Ming Choon — with four new board members, including Leong himself.


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