Profits net worth

- A + A KUALA LUMPUR (May 24): Malakoff Corp Bhd’s net profit for the first quarter ended March 31, 2022 (1QFY22) fell by 15.82% year-on-year (y-o-y) to RM50.88 million, from RM60.44 million. The lower net profit was due to lower contribution from Tanjung Bin Energy Sdn Bhd (TBE), resulting from the plant outage caused by low-pressure turbine blade failure, coupled with higher depreciation charges, according to the company’s filing with the bourse on Tuesday (May 24). As a result, earnings per share decreased to 1.04 sen, from 1.24 sen previously. In contrast, its quarterly revenue grew 39.42% to RM1.88 billion, from RM1.35 billion. The increase in revenue was primarily due to higher energy payments recorded from Tanjung Bin Power Sdn Bhd and TBE, given the higher Applicable Coal Price during the period under review. In a separate statement, Malakoff said its overseas investments achieved a share of profit totalling RM47.4 million, an increase of 70.5% from … [Read more...] about Malakoff’s 1Q net profit down 16% y-o-y, despite higher revenue

- A + A KUALA LUMPUR (May 24): Farm Fresh Bhd's net profit for the fourth quarter ended March 31, 2022 (4QFY22) surged 50.63% to RM17.68 million from RM11.74 million a year earlier, on a higher gross profit margin. In a bourse filing on Tuesday (May 24), the group said the higher gross margin reflected both an increase in sales as well as a price increase of its chilled ready-to-drink (RTD) milk products and ambient RTD products by an average of 5% which it implemented in September and December 2021 respectively. It noted that gross profit margin improved from 27.6% to 28.6% a year ago. Meanwhile, quarterly revenue was marginally up by 0.44% to RM128.07 million from RM127.51 million. It noted that its Malaysian operation's revenue grew by 6.16% to RM120.68 million from RM113.68 million a year ago, driven by the recovery in economic activities and consumer confidence on the heels of further easing of restrictions and reopening of borders. However, revenue fell … [Read more...] about Farm Fresh 4Q earnings up 51% on increase in sales and price hikes, FY22 profit up 121%

- A + A KUALA LUMPUR (May 24): KLCCP Stapled Group reported a net profit of RM161.44 million for the first quarter ended March 31, 2022 (1QFY22), up 10.48% from RM146.12 million in the same quarter last year, amid a rebound in business activities. The group, comprising KLCC Property Holdings Bhd (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT), saw revenue grow 13.93% to RM321.71 million from RM282.37 million. The group declared a dividend of eight sen per stapled security, 14.3% higher than the year-ago quarter's seven sen payout. In a statement, KLCCP Stapled said it registered an improved year-on-year performance across all business segments, particularly retail and hotel, due to the relaxation of Covid-19 containment measures. Its retail segment's profit before tax (PBT) rose 36% to RM79.6 million on the back of a 23% rise in revenue, primarily contributed by higher rent revenues, advertising income, and percentage rents in fashion, and food and … [Read more...] about KLCCP Stapled declares eight sen dividend as 1Q profit strengthens

- A + A KUALA LUMPUR (May 24): The plantations and manufacturing segments have lifted Kuala Lumpur Kepong Bhd’s (KLK) net profit for the second quarter ended March 31, 2022 (2QFY22) to RM546.57 million, up 11.44% from RM490.44 million a year earlier. Earnings per share increased to 50.7 sen from 45.5 sen in the previous year. A bourse filing showed that KLK’s revenue in 2QFY22 climbed 41.56% to RM6.38 billion from RM4.51 billion in 2QFY21. The company also declared an interim dividend of 20 sen per share, to be paid on Aug 2. KLK’s plantations segment's 2QFY22 revenue grew 65.4% to RM423.3 million from RM255.87 million, driven by higher crude palm oil (CPO) and palm kernel selling prices and profit contribution from newly acquired subsidiaries. The manufacturing segment’s revenue, meanwhile, jumped 72.6% to RM377.89 million from RM218.97 million on higher contributions from oleochemical division and refineries as well as kernel crushing operations. For the … [Read more...] about Plantation and manufacturing segments lift KLK’s 2Q earnings 11.44% y-o-y to RM546.57m

- A + A KUALA LUMPUR (May 24): KNM Group Bhd has sold its entire stake in Borsig GmbH, a German-based process equipment manufacturer, to GPR Siebzigste Verwaltungsgesellschaft mbH (GSV) for €220.8 million (RM1.03 billion), but is expected to make an estimated loss of RM490.55 million from the disposal. In a bourse filing on Tuesday (May 24), the group said its wholly-owned indirect subsidiary Deutsche KNM GmbH entered into a conditional sale, purchase and transfer agreement with GSV on Monday. KNM is a multinational group with core businesses in project management, engineering, manufacturing and construction for the renewable energy, power, utilities, refining and petrochemical industries. GSV is a special investment vehicle wholly-owned by Vorsprung Industries SCSp, incorporated for the acquisition of Borsig. The price tag represents an enterprise value (EV) over earnings before interest, taxes, depreciation and amortisation (ebitda) of 6.63 times, compared with … [Read more...] about KNM to sell Borsig at a loss for RM1 billion

- A + A KUALA LUMPUR (May 24): Logistics and express carrier provider GDEX Bhd posted a net loss of RM1.9 million in the first quarter ended March 31, 2022 (1QFY22), the first time since it was listed in 2005, amid tough competitions at home and higher operating costs. The group reported a 13.16% decline in revenue during the quarter to RM91.89 million, compared with RM105.81 million a year ago, amid lower contributions from its courier services segment. Geographically, Malaysia and Vietnam collectively made up the majority, or 99.6%, of GDEX's revenue, while Singapore contributed the balance 0.4%, according to GDEX. GDEX managing director Teong Teck Lean said in a statement accompanying the results that the group continues to face headwinds in Malaysia due to predatory pricing. "The competitive pricing environment is destructive, with some players offering free delivery service to grow their volume. However, this practice seems to be slowing down and we … [Read more...] about GDEX falls into the red for the first time ever amid stiff competitions in 1QFY22

This article first appeared in The Edge Malaysia Weekly, on May 16, 2022 - May 22, 2022. - A + A COMMODITIES may still be riding an upward trend, but metal prices have melted to pre-Russia-Ukraine conflict levels. Aluminium, for one, has seen year-to-date gains erased on demand headwinds, especially the slowdown in China’s manufacturing activity due to Covid-19 lockdowns. Since surging past US$3,800 a tonne in March this year — the highest in more than 13 years — aluminium prices have retreated 30% to a five-month low of US$2,700 a tonne. Copper prices have also contracted to a more than seven-month low of US$9,000 a tonne as at last Thursday on fears of a global economic slowdown. Attributing the fall to a strong US dollar and weak Chinese demand, Fitch Solutions expects further weakening in metal prices in the second quarter before stabilising in the second half of the year. Local analysts are not overly concerned about softer aluminium prices as they … [Read more...] about Trailing demand a temporary blip for aluminium players

Share to Twitter Share to Linkedin Topline Fresh off the S&P 500's brief plunge into bear-market territory, financial stocks led a staggering market rally on Monday after bullish news from the nation's largest lender, but with uncertainty around interest rate hikes still posing a risk to stocks, experts aren't breathing a sigh of relief just yet. Key Facts The Dow Jones Industrial Average soared 633 points, or 2%, to 31,896 by 3:30 p.m. ET Monday, while the S&P jumped 1.85% and the tech-heavy Nasdaq, 1.4%—setting the market up for its first daily increase in a week. Heading up the Dow and S&P's gains, shares of JPMorgan—though still down 22% this year—surged 7% after the bank raised its outlook for net interest income this year to $56 billion, up from guidance of $50 billion in January, due to expectations that the Federal Reserve will raise rates to 3% this year. "Strong economy, big storm clouds," JPMorgan CEO Jamie Dimon said … [Read more...] about Dow Soars 600 Points As JPMorgan Rallies—But ‘Vicious’ Bear Market Risks Keep Experts On Edge