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Carlsberg, Pharmaniaga, Sentral REIT, AAX, Inari Amertron, Hong Leong Industries, FGV, TCS, KNM, Advancecon, TNB, UEM Sunrise, Sapura Energy

KUALA LUMPUR (Aug 19): Here is a brief look at some corporate announcements and news flow on Friday (Aug 19), which include Carlsberg Brewery Malaysia Bhd, Pharmaniaga Bhd, Sentral REIT, AirAsia X Bhd, Inari Amertron Bhd, Hong Leong Industries Bhd, FGV Holdings Bhd, TCS Group Holdings Bhd, KNM Group Bhd, Advancecon Holdings Bhd, Tenaga Nasional Bhd, UEM Sunrise Bhd, and Sapura Energy Bhd.

Carlsberg Brewery Malaysia Bhd's net profit for the second quarter ended June 30, 2022 (2QFY22) more than doubled to RM88.95 million from RM37.14 million a year before, as revenue jumped along with normalising operations and consumer activities due to Covid-19's transition to endemicity. Revenue for 2QFY22 rose 64.44% to RM574.23 million from RM349.21 million in 2QFY21, as both Malaysian and Singaporean operations saw better sales. Its board of directors announced a second interim dividend of 22 sen per share, to be payable on Sept 15. For the cumulative six months ended June 30, 2022 (6MFY22), its net profit expanded 74.27% to RM180.53 million, from RM103.59 million a year ago. Revenue also increased by 39.36% to RM1.23 billion from RM881.2 million.

On the other hand, Carlsberg said premiumisation and innovation will remain its strategies to protect its profit margin in times of global uncertainties and inflation.

Pharmaniaga Bhd's net profit for 2QFY22 slumped 94.7% to RM722,000, from RM13.7 million a year earlier, mainly due to lower sales for its non-concession segment, due to the timing of orders from the Ministry of Health for products under the tender business. Its revenue fell 35.3% to RM761.1 million, from RM1.18 billion a year ago. It declared a second interim dividend of half a sen per share, to be paid on Oct 4. For 6MFY22, Pharmaniaga's net profit fell 22.8% to RM28.46 million from RM36.84 million a year ago, as revenue fell 12.6% to RM1.72 billion from RM1.97 billion.

Sentral REIT's net property income for 2QFY22 slipped 3.8% to RM27.94 million, from RM29.04 million a year earlier, on lower revenue. Quarterly revenue was down 2.96% to RM36.51 million, from RM37.62 million, amid lower revenue generated from QB2-HSBC, Wisma Technip, QB3-BMW and Menara Shell. The real estate investment trust declared an interim gross distribution per unit of 3.4 sen, of which taxable income is 3.32 sen per unit and tax-exempt income is 0.08 sen per unit. For 6MFY22, Sentral REIT's net property income declined to RM58.45 million from RM60.45 million a year earlier, while revenue fell 4.29% to RM75.27 million from RM78.65 million.

AirAsia X Bhd (AAX) closed its financial year 2022 (FY22) on a negative note as it slipped back into the red in its fourth quarter ended June 30, 2022 (4QFY22) with a net loss of RM652.52 million. Its revenue dropped to RM107.18 million in 4QFY22 from RM113.01 million in 3QFY22. For FY22, the Practice Note 17 company registered a net profit of RM32.8 billion — after RM33.6 billion of provisions made for default under contracts and liabilities had been forgiven and reversed during the year following the completion of its debt restructuring process. Annual revenue came in at RM438.77 million.

Inari Amertron Bhd's net profit for 4QFY22 slipped to RM86.22 million, from RM88.36 million a year earlier, due to a decline in revenue and higher provision of deferred taxation. Quarterly revenue fell 6.96% to RM336.18 million from RM361.32 million, as raw material supply constraints led to lower loading volume in its optoelectronics and generic business segments. The group declared a fourth interim dividend of 2.2 sen, to be payable on Oct 6. Full-year net profit rose 18.29% to RM390.92 million, from RM330.47 million for FY21, on higher revenue growth at its radio frequency business segment. Revenue increased 8.34% to RM1.55 billion from RM1.43 billion in FY21, with all of the group's business segments recording growth.

Hong Leong Industries Bhd's net profit for 4QFY22 rose 82.43% to RM72.68 million from RM39.84 million a year ago, on higher motorcycle sales after supply chain disruptions gradually recovered. Quarterly revenue grew 67.55% to RM777.11 million from RM463.8 million. However, for the full FY22, Hong Leong Industries posted a 27.73% drop in net profit to RM210.94 million from FY21's RM291.88 million, dragged by a drop in sales in 1QFY22 as movement restrictions curbed production for two months. Cumulative revenue fell 6.33% to RM2.47 billion from RM2.63 billion.

FGV Holdings Bhd announced that no non-compliance was identified based on the Fair Labor Association's forced labour practice benchmarks while no evidence of child labour was found in the company's operations.

TCS Group Holdings Bhd has secured a RM108.38 million contract for the construction of Moxy Putrajaya Hotel. The group won the contract from IOI City Hotel Sdn Bhd to complete one block of the 19-storey hotel.

KNM Group Bhd has postponed until further notice an extraordinary general meeting that was scheduled for Aug 22 to seek shareholders' approval for the planned €220.8 million (RM997.16 million) sale of its entire stake in Borsig GmbH, a German-based process equipment manufacturer. The announcement was made after the buyer, GPR Siebzigste Verwaltungsgesellschaft mbH (GSV), requested further amendments to certain terms and conditions of the sale agreement signed in May — after signing an amendment agreement on July 21 — to accommodate GSV's financing structure for the deal, which is being finalised.

Civil engineering solutions provider and builder Advancecon Holdings Bhd has obtained a four-year extension from the Energy Commission to the 21-year power purchase agreement with Tenaga Nasional Bhd (TNB) that it was awarded for the development of a large scale solar photovoltaic plant of 26 MW in Kuala Langat.

UEM Sunrise Bhd is disposing of its 80.4% stake in South Africa-based Roc Union-Proprietary Ltd for 142.6 million rand (RM38 million). The group said its indirect wholly owned subsidiary, UEM Sunrise South Africa Proprietary Ltd, signed an agreement on Friday to sell the stake, together with claims, to Olive Investment Trust.

Sapura Energy Bhd is selling three drilling rigs to UK-based NKD Maritime Ltd for US$8.2 million (RM35.14 million). Three of its subsidiaries — Sapura Drilling T-19 Ltd, Sapura Drilling T-20 Ltd and Sapura Drilling Setia Ltd — have signed deals to sell the rigs to NKD Maritime.


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