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Singapore Investment


KPJ Healthcare, Sime Darby Plantation, Gas Malaysia, Malaysia Smelting, Classic Scenic, CIMB, Pan Malaysia, MUI, MAHB and MyEG

KUALA LUMPUR (Feb 17): Here is a brief recap of some corporate announcements that made news on Friday (Feb 17) involving KPJ Healthcare Bhd, Sime Darby Plantation Bhd, Gas Malaysia Bhd, Malaysia Smelting Corp Bhd, Classic Scenic Bhd, CIMB Group Holdings Bhd, Pan Malaysia Holdings Bhd, Malayan United Industries Bhd, Malaysia Airports Holdings Bhd and MyEG Services Bhd.

KPJ Healthcare Bhd’s net profit jumped more than three-fold to RM72.09 million in the fourth quarter ended Dec 31, 2022 (4QFY2022), from RM20.33 million a year ago, on improved hospital activities. The healthcare group’s latest quarterly earnings is the highest since it reported a net profit of RM84 million in 4QFY2019.

Despite a decline in both fresh fruit bunch (FFB) production and realised crude palm oil (CPO) prices, Sime Darby Plantation Bhd’s net profit for the fourth quarter ended Dec 31, 2022 rose 20.34% to RM562 million from RM467 million a year earlier. The oil palm planter attributed the rise in earnings to lower non-recurring loss and tax charges, which offset the 2% and 4% drop in FFB production and realised CPO prices respectively. Quarterly revenue increased 2.16% to RM5.67 billion versus RM5.55 billion previously. It declared a final dividend of 6.04 sen per share. Meanwhile, Sime darby has appointed Employees Provident Fund (EPF) CEO Datuk Seri Amir Hamzah Azizan to its board as a non-independent and non-executive director.

Gas Malaysia Bhd's net profit for the fourth quarter ended Dec 31, 2022 rose 37.42% to RM95.22 million from RM69.29 million a year ago, on the back of higher gross profit, lower finance cost and higher finance income. It said these contributory factors were, however, partially offset by higher administrative expenses and lower contributions from joint-venture companies. Revenue rose 14.57% to RM2.22 billion from RM1.94 billion a year ago, thanks to higher average natural gas selling prices, in tandem with global market prices. However, this was mitigated by the lower volume of natural gas sold during the quarter. It declared a second interim dividend of 8.24 sen per share, bringing its full-year dividend payment to 14.14 sen per share.

Malaysia Smelting Corp Bhd (MSC) has posted a 59.6% decline in its net profit to RM25.89 million for the fourth quarter ended Dec 31, 2022 from RM64.07 million a year earlier, due mainly to lower average tin price. The average price fell to RM98,100 per tonne compared with RM158,300 previously. The lower earnings were also attributed to a net share loss of RM900,000 at its associate and joint venture firm compared to a net share profit of RM1 million previously. Quarterly revenue, however, rose 53.36% to RM391.15 million from RM225.06 million on the back of higher sales of refined tin.

Classic Scenic Bhd posted a 22.94% increase in its net profit to RM4.15 million for the fourth quarter ended Dec 31, 2022, from RM3.38 million a year ago, thanks mainly to the strong US dollar and lower operating expenses. Quarterly revenue was marginally lower at RM17.72 million compared with RM17.9 million previously, amid lower export volume of wooden picture frames and moulding. Separately, the group proposed a one-for-one bonus issue of up to 361.5 million shares, with the entitlement date to be determined later. The exercise is expected to be completed in the second quarter of 2023.

PT CIMB Niaga Tbk, the 92.5%-owned subsidiary of CIMB Group Holdings Bhd, saw its consolidated net profit grow 24.35% to 5.1 trillion rupiah for the financial year ended Dec 31, 2022, from 4.1 trillion rupiah a year earlier, amid the Indonesian economy’s recovery from global uncertainty and challenges.“Looking ahead into 2023, our strategic initiatives are focused on the area of consumer banking and Casa (customer account saving account) growth through digital proliferation, further asset quality improvement, non-interest income contribution and digital banking innovation through advanced technology, with a wide range of customised services,” said CIMB Niaga president Lani Darmawan.

Pan Malaysia Holdings Bhd (PMH) and its 68.32% shareholder Malayan United Industries Bhd (MUI) are fighting back against a new lawsuit alleging that the sale of three firms — PM Securities Sdn Bhd, PCB Asset Management Sdn Bhd and Miranex Sdn Bhd — to NewParadigm Capital Ventures Sdn Bhd for RM90 million cash are in breach of Section 223 of the Companies Act 2016. On Tuesday (Feb 14), both PMH and MUI had received an originating summons and notice of application for interim injunction of the sales from Chan Weng Fui, a shareholder of Pan Malaysia Capital Bhd (PMC) with a direct stake of 4.78%. PMC is in turn a 34.84% unit of PMH. PMH and MUI have categorically denied any impropriety alleged by Chan through the action.

Tan Sri Zainun Ali has returned to helm Malaysia Airports Holdings Bhd (MAHB) two-and-half years after stepping down as its non-independent non-executive chairman. Zainun, 71, has been appointed to the same position with effect from Friday (Feb 17). The former Federal Court judge succeeds Datuk Seri Dr Zambry Abdul Kadir, who vacated the chairman’s post after his appointment as the country's foreign affairs minister. Zainun had served as the first ever female chairman of MAHB from Jan 18, 2019 to Aug 11, 2020, succeeding Tan Sri Syed Zainol Anwar Syed Putra Jamalullail, who had resigned. She was replaced by Zambry as part of several leadership changes at government-linked companies initiated by the Perikatan Nasional-led coalition that took over the federal administration from Pakatan Rakyat in March 2020.

MyEG Services Bhd continued its share buyback spree on Friday, raising the amount spent by the company to mop up its own shares since Feb 7 to RM10.72 million. The latest buyback involved four million shares at a price of between 66 sen and 68.5 apiece, for a total sum of RM2.7 million. In total, MyEG has bought back 16 million shares for RM10.72 million in the repurchase exercise since Feb 7.


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