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Singapore Investment


Pestech, Bursa Malaysia, KLCCP Stapled, Pavilion REIT, CTOS, Lotte Chemical Titan, MBM Resources, Gamuda, TSR Capital, Teladan Setia, Cypark, Lambo and Genetec

KUALA LUMPUR (Jan 31): Here is a brief recap of some corporate announcements that made the news on Tuesday (Jan 31), involving Pestech International Bhd, Bursa Malaysia Bhd, KLCCP Stapled Group Bhd, Pavilion Real Estate Investment Trust, CTOS Digital Bhd, Lotte Chemical Titan Holding Bhd, MBM Resources Bhd, Gamuda Bhd, TSR Capital Bhd, Teladan Setia Group Bhd, Cypark Resources Bhd, Lambo Group Bhd and Genetec Technology Bhd.

Pestech International Bhd has confirmed that two of its top executives have been charged for allegedly abetting the misappropriation of RM10.6 million related to its wholly-owned subsidiary, PESTECH Technology Sdn Bhd. Pestech said both executive chairman Lim Ah Hock and managing director-cum-group chief executive officer Lim Pay Chuan were charged at Shah Alam Sessions Court last Friday (Jan 27).

Bursa Malaysia Bhd’s net profit for the fourth quarter ended Dec 31, 2022 (4QFY2022) declined by 24.55% to RM49.005 million from RM64.95 million a year ago, due to lower trading revenue in the securities market. The exchange's overall revenue for 4QFY2022 fell 11.79% to RM145.7 million from RM165.18 million, its bourse filing showed. Earnings per share declined to 6.1 sen from 8 sen. Bursa declared a final dividend of 11.5 sen per share, amounting to about RM93.1 million, to be paid on March 1.

For the full FY2022, Bursa’s net profit dropped 36.22% to RM226.57 million from RM355.25 million, as revenue for the year fell 21.4% to RM603.24 million from RM767.54 million, with trading revenue in the securities market contracting 40.5% to RM263.5 million from RM442.9 million.  

KLCCP Stapled Group Bhd has recorded a near four-fold rise in net profit to RM279.47 million for 4QFY2022 from RM70.33 million a year earlier, boosted by strong recovery in the retail and hotel segments. The group — comprising KLCC Property Holdings Bhd (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT) — saw its quarterly revenue increasing 18.69% to RM413.26 million, from RM348.17 million. KLCCP Stapled declared a dividend of 14 sen per stapled security, bringing the full-year dividend payout to 38 sen per security or a total of RM686 million.

For FY2022 as a whole, KLCCP Stapled’s net profit grew 57.84% to RM782.66 million from RM495.85 million in the previous year, as revenue increased 24.61% to RM1.46 billion from RM1.17 billion.

Pavilion Real Estate Investment Trust (Pavilion REIT) said its net property income (NPI) in 4QFY2022 rose 17.17% to RM96.89 million from RM82.69 million, as higher rental income more than offset higher utilities and maintenance costs. Net investment income more than tripled to RM250.41 million from RM83.14 million on the back of fair value gain on investment properties of RM151.38 million, from a loss of RM627,000 the year before. Its distributable income rose 19.46% to RM67.56 million or 2.21 sen per unit, from RM56.56 million or 1.85 sen per unit.

With the latest results, Pavilion REIT’s NPI in FY2022 rose 53.92% to RM364.2 million from RM236.62 million. This is supported by an 11.4% increase in rental income to RM498.91 million from RM447.86 million, while revenue from contract customers rose 77.5% to RM55.87 million from RM31.47 million.

CTOS Digital Bhd’s net profit rose 13.1% to RM13.7 million in 4QFY2022 compared with RM11.9 million it earned in the same period in 4QFY2021, driven by stronger demand for its products and services. The credit reporting group’s revenue for the quarter expanded 36% to RM52.7 million from RM38.8 million from a year ago, with stronger contribution from its CTOS Data Systems Reports, digital solutions and comprehensive portfolio review, as well as new CTOS Credit Manager subscribers.

For the full FY2022, CTOS reported a 66% jump in net profit to RM71.4 million from FY2021’s RM43.1 million, as revenue climbed 27% to RM194.8 million from RM153.2 million a year ago, underpinned by solid organic and inorganic growth.

Lotte Chemical Titan Holding Bhd (LCT) posted a net loss of RM317.22 million in 4QFY2022 — its third consecutive quarter of losses — versus a net profit of RM168.89 million a year earlier. This was due to a decline in margin spread amid weakened market demand resulting from a volatile external environment, higher foreign exchange losses of RM32.7 million, and its share of loss from Lotte Chemical USA Corporation (LC USA) of RM6.4 million. Quarterly revenue declined 22.97% to RM2.07 billion from RM2.68 billion, on lower average product selling price and sales volume.

For FY2022 as a whole, LCT registered a net loss of RM714.64 million against a net profit of RM1.04 billion in FY2021, despite revenue increasing 1.91% to RM10.02 billion from RM9.83 billion on higher product selling prices.

MBM Resources Bhd has appointed Aqil Ahmad Azizuddin as its new chairman with immediate effect, succeeding Datuk Dr Aminar Rashid Salleh. Aqil, 64, is no stranger to the group, as he had previously sat on the board from 2001 till 2017, and is currently chairman of Med-Bumikar MARA Sdn Bhd and Daihatsu (Malaysia) Sdn Bhd. Aqil is also a board member in Perusahaan Otomobil Kedua Sdn Bhd and Perodua Sales Sdn Bhd.

Gamuda Bhd has redesignated former Auditor General Tan Sri Ambrin Buang as the group’s new chairman, succeeding Datuk Mohammed Che Hussein, who retired in December 2022. Ambrin, 74, joined Gamuda’s board in September 2018 as the construction giant’s independent non-executive director.

TSR Capital Bhd's independent, non-executive chairman Tan Sri Mohamad Noor Abdul Rahim has resigned due to personal reasons. He had been chairman of the construction group since October 2015. He was first appointed to the board as an independent non-executive director in August 2008. The group's senior independent non-executive director Tan En Chong, 73, has also resigned due to personal reasons. The group appointed Lee Siew Chen, who has several years of experience in taxation, as its new independent non-executive director.

Teladan Setia Group Bhd — through its wholly-owned subsidiary Asal Harta Sdn Bhd — has entered into a sales and purchase agreement with Megan Mastika Sdn Bhd to purchase a piece of vacant commercial land in Melaka Tengah for RM48.54 million. The land, which measures approximately 7.54 acres, will be developed into a health and wellness centre as well as serviced apartments.

Cypark Resources Bhd said it is not aware of any explanation for the unusual trading volume of its shares recently, except for the completion of its private placement and the emergence of Jakel Group’s investment arm as its new substantial shareholder, which may have boosted investor confidence. On Tuesday, Cypark’s share price closed down 0.96% or one sen at RM1.03, giving the renewable energy firm a market capitalisation of RM796.3 million.

Lambo Group Bhd’s external auditor has expressed a disclaimer of opinion in the group’s financial statement due to lack of audit evidence on financials relating to its  subsidiary Fujian Accsoft Technology Development Co Ltd. CAS Malaysia PLT expressed the disclaimer of opinion in Lambo’s financial statement for the 16-month period ended Sept 30, 2022. China-based Fujian Accsoft, an indirect wholly-owned subsidiary of Lambo, was in the spotlight in July last year when China’s Ministry of Finance said the company’s audited financial statements for 2016, 2017 and 2018 were falsified and a penalty was imposed on its auditor.

Genetec Technology Bhd has fixed the issue price of its private placement exercise at RM2.61 per share to raise RM177.99 million. The issue price represents a discount of 2.69% to the volume weighted-average of the shares for the five market days up to and including Jan 30 of RM2.6821 per share. Genetec said earlier the funds will be mainly used for its business expansion — particularly to improve and upgrade its manufacturing facilities for automated industrial systems and equipment, and the provision of value-added services for customers in the electric vehicle and energy storage industries — as well as working capital requirements.


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