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Pos Malaysia, DNeX, MBM Resources, GUH and Sunview

KUALA LUMPUR (Feb 20): Here is a brief recap of some corporate announcements that made news on Monday (Feb 20) involving Pos Malaysia Bhd, Dagang NeXchange Bhd, MBM Resources Bhd, GUH Holdings Bhd and Sunview Group Bhd.

Pos Malaysia Bhd narrowed its net loss to RM98.42 million for the fourth quarter ended Dec 31, 2022 (4QFY2022) from a loss of RM123.21 million for 4QFY2021, thanks to improved customer segmentation resulting in better yields and effective efforts in managing and optimising its assets. However, revenue for 4QFY2022 declined 11.61% to RM467.2 million from RM528.59 million, due to lower revenue contribution from the postal segment. The group which has been in the red since FY2019, said its net loss for the full FY2022 narrowed to RM167.67 million from RM335.73 million a year ago. This was despite FY2022 revenue falling 10.63% to RM1.96 billion from RM2.19 billion, as postal revenue declined 19% to RM1.24 billion from RM1.52 billion, due to a decline in overall parcel volumes, especially from contract customers.

Dagang NeXchange Bhd’s (DNex) net profit for the second quarter ended Dec 31, 2022 (2QFY2023) fell by 27.3% to RM31.88 million from RM43.83 million a year earlier, partly due to higher tax expenses. It saw higher current and deferred tax expenses at RM37.52 million compared to a tax credit of RM1.54 million a year ago. Quarterly revenue slipped 6.45% to RM330.53 million compared with RM353.31 million a year ago, due to a 25.8% weaker contribution from its technology (semiconductor fabrication) segment, on the back of lower wafer shipments. DNeX chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the 2QFY2023 results reflect weaker external demand on the back of recession fears. However, Syed Zainal noted that the group anticipates wafer shipment volumes to normalise in the near term due to commitments of delivery volumes from its three long-term agreement customers.

MBM Resources Bhd’s net profit for the fourth quarter ended Dec 31, 2022 (4QFY2022) fell by 49% to RM57.41 million from RM112.81 million a year ago due to higher operating costs and lower contributions from associates. However, quarterly revenue increased by 16.5% to RM651.4 million from RM558.92 million in 4QFY2021, thanks to higher revenue from both its motor trading and auto parts manufacturing divisions. Despite its poorer quarterly performance, for the full year ended Dec 31, 2022 (FY2022), the group posted its best-ever net profit surging 65% to RM281.55 million from RM171.22 million in FY2021. Correspondingly, FY2022 revenue increased by 50.9% to RM2.3 billion from RM1.52 billion in FY2021, thanks to its motor trading and auto parts manufacturing divisions, which achieved record-high revenue from the sales tax exemption, higher vehicle supplies, improved operating conditions and production demand.

Printed circuit board (PCB) maker GUH Holdings Bhd has proposed a bonus issue of 140.14 warrants on the basis of one warrant for every two shares held.

Separately, GUH via its 40%-owned associate Leader GUH Renewable Energy Sdn Bhd has undertaken some investments to participate in the renewable energy business. GUH Energy has acquired a 60% stake in Taiwan-based Yabisi Solar Power Co Ltd, which is presently undertaking the development of a large-scale 76.5 megawatt peak floating solar photovoltaic project in that country.

Sunview Group Bhd, a solar photovoltaic facilities provider,  and three other companies are jointly acquiring a firm engaged in the operation of generation facilities that produce electricity. The four buyers are acquiring Provectus Bioenergy Sdn Bhd for RM115,688 from Ee Hood Liang and Wong Pak Wei. Post-acquisition, Sunview will hold a 20% stake in Provectus. The three other partners Warrants RE Assets Sdn Bhd will control a 29% stake, Intechcity Construction Sdn Bhd a 31% stake and Pasir Lembayung Sdn Bhd a 20% stake.


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