Guan Chong Bhd's net profit fell10.7 per cent in the third quarter (Q3) ended September 30, 2022 from RM34.5 million in the previous year's corresponding quarter. The company said this was due to the impacts of rising interest rates and weakening ringgit during the quarter. (NST)

Hibiscus Petroleum Bhd's net profit surged 225.8 per cent year-on-year (YoY) to RM135.26 million in the first quarter (Q1) ended September 30, 2022 (FY23) from RM41.52 million a year ago. This was driven by relatively high oil, condensate and gas prices, Hibiscus said. Group revenue for the quarter rose 145.2 per cent to RM604.77 million versus RM246.7 million a year ago. (NST)

PCCS Group Bhd's net profit rose 241.83 per cent to RM5.65 million in the second quarter (Q2) ended September 30, 2022 from RM1.65 million a year ago. The company's revenue, however, edged up a marginal 1.24 per cent increase to RM104.06 million from RM102.79 million in the corresponding quarter in 2021. (NST)

TIME dotCom Bhd is selling a big portion of its shares in AIMS Group data centre business to DigitalBridge Group Inc for about RM2 billion. The divestment is part of Time's partnership with DigitalBridge to accelerate the expansion of AIMS Group data centre business across Asia. (NST)

MSM Malaysia Holdings Bhd's (MSM) nine months of financial year 2022 (9M22) core net loss of RM177 million comes in below expectations, said Affin Hwang Capital Bhd. Affin Hwang said MSM reported a 9M22 core net loss of RM176.5 million after excluding exceptional items, which fell below its and consensus estimates due to higher-than-expected input costs and operating costs such as refining and freight costs. (NST)

Star Media Group Bhd (SMG) posted a 16% rise in revenue in the third quarter of financial year 2022 (3Q22) from 3Q21 mainly contributed by the revenue focused initiatives undertaken by the management, which has led to the continuous improvement in its financial performance.  In a filing with Bursa Malaysia, SMG said pre-tax profit for 3Q22 was RM1.9mil compared with a pre-tax loss of RM54.7mil in 3Q21. (TheStar)

Ni Hsin Group Bhd’s (Ni Hsin) wholly-owned subsidiary, Ni Hsin EV Tech Sdn Bhd (NH EV Tech), has launched its new TAILG EBIXON EV electric vehicle (EV) motorcycle models, which are imported and assembled at the company's manufacturing facilities in Seri Kembangan, Selangor. The company has unveiled two models for the personal and commercial categories, namely TAILG EBIXON BOLD and TAILG EBIXON TORQ. (TheStar)

CIMB Bank Bhd and CIMB Islamic Bank Bhd have partnered ModulEight Technologies Sdn Bhd to onboard Mesinkira, an integrated mobile business management solution to support the growth and digitalisation for micro, small and medium enterprises (MSME). Mesinkira is a commercial platform that offers point-of-sale software including inventory management, payment and accounting, and reporting services to MSMEs. (TheStar)

The bearish view on the global steel market will likely be prolonged, as steel prices and demand are unlikely to see any favourable improvement, according to CSC Steel Holdings Bhd. In a filing with Bursa Malaysia, CSC Steel said Europe’s energy crisis was forcing the manufacturing industry across the continent, including steel mills, to close down. (TheStar)

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Telekom Malaysia Bhd (TM) expects its growth momentum to continue over the final quarter of 2022 as it recorded improved revenue contributions in all its core segments. Over the third quarter ended Sept 30, 2022, TM reported earnings before interest and taxes (Ebit) of RM604.8mil, which was a 38.2% jump from the same quarter last year. (TheStar)

ARB Bhd is confident it can take advantage of the growth opportunities with the rising technology adoptions such as artificial intelligence (AI), cloud computing, 5G, robotic process automation (RPA), Internet of Things (IoT), and hyper-connectivity in businesses. The rising adoption of new technology and the digital transformation of businesses in Malaysia will offer growth opportunities for ARB as it expands its product and service offerings. (NST)

Eastern & Oriental Bhd (E&O) intends to launch more projects in Penang in the near future, spurred by strong response to the group’s “The Meg” development. In a filing with Bursa Malaysia yesterday, the property developer said the high take up rate achieved of more than 80% for The Meg since it started previewing in January 2022, reflected the strategic location of Andaman Island. (TheStar)

Amid operational challenges, Sime Darby Plantation Bhd expects fresh fruit bunch (FFB) production to be lower in 2022 than in the previous year while crude palm oil (CPO) prices have begun to normalise. While noting that CPO price is expected to remain attractive in comparison to alternative vegetable oils, the plantations group said prices have stabilised following a peak in the first half of 2022 as increased supply fufils pent-up global demand. (TheStar)

Uzma Bhd's five-year contract for D18 water will injection is expected to lift its order book to an estimated RM2 billion, said Kenanga Research. The research house is positive on the contract win, with this being one of Uzma's more prominent jobs within its portfolio. The contract also reflects the client's satisfaction with Uzma's job execution capabilities thus far. (NST)

Pos Malaysia Bhd's recovery prospects remain uncertain amid intense industry competition, as reflected by another loss-making quarter of operations. The postal service provider reported a core net loss of RM43.5mil in 3QFY22, which brought 9MFY22 net loss to RM73.5mil. According to Hong Leong Investment Bank (HLIB) Research, the results were below its and market expectations. (TheStar)

Source: New Straits Times, The Star 22 Nov 2022

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