Capital A Bhd sank into the red for the final quarter of 2023, dragged by higher operating expenses, asset depreciation and higher financing costs. Net loss for the three months ended Dec 31, 2023 was RM159.57 million compared with net profit of RM109.95 million over the same period a year prior, Capital A said in an exchange filing. Revenue, however, more than doubled year-on-year to RM4.86 billion from RM2.20 billion on strong recovery of both domestic and international travel demand. (TheEdge)
Shares in Genting Plantations Bhd dropped in early trade on Thursday, as analysts maintained caution following weaker-than-expected earnings for the fourth quarter ended Dec 31, 2023 (4QFY2023). At 10.54am, the stock was six sen or 0.97% lower at RM6.10, giving it a market capitalisation of RM5.47 billion. (TheEdge)
Berjaya Corp Bhd's net loss widened to RM116.3 million in the second quarter ended Dec 31 of financial year 2024 from the RM24.81 million a year ago, mainly due to the boycott of Starbucks' cafes arising from the Middle East conflict. This was on 4.4 percent lower revenue of RM2.23 billion in Q2 2024 compared with revenue of RM2.34 billion in the previous year corresponding quarter. (NST)
Pharmaniaga Bhd narrowed its losses in the financial year ended Dec 31, 2023 (FY23) to RM77.45 million thanks to lower one-off provisions for slow moving pandemic-related consumable inventories. The company reported a net loss of RM629.92 million a year ago in FY22. (NST)
Property group I-Bhd expects its i-City development to exceed projections in the near future as it continues to solidify the project’s position as a notable destination, backed by a steady revenue growth. Capitalising on the projected economic upturn this year, the group said it will also be focusing on targeted marketing campaigns for its serviced residence, BeCentral. (TheStar)
Eco World Development Group Bhd (EcoWorld) announced that it will be launching three duduk series products this year during the opening ceremony of Se.duduk D’Kajang sales gallery at Jalan Kajang Villa on Thursday. The three duduk series projects are Riang @ D’Eco Majestic, Santai @ D’Eco Spring and Se.duduk D’Kajang, which are expected to be launched in the third quarter of 2024 (3Q2024). (TheEdge)
Southern Score Builders Bhd, formerly known as G Neptune Bhd, has won a contract amounting to RM618.24 million to construct two blocks of apartment suites in Setapak, Kuala Lumpur. The contract was awarded by property developer Platinum Victory Development Sdn Bhd, said Southern Score in a bourse filing on Wednesday. (TheEdge)
Malaysia Airports Holdings Bhd's (MAHB) net profit for the financial year ended Dec 31, 2023 (FY2023) surged 188% to RM543.17 million or 29.17 sen per share from RM187.19 million or 7.82 sen per share, due to to an increase in revenue, other income and share of profit from associates and joint ventures. In a bourse filing on Thursday, the airports operator said revenue for the year jumped to RM4.91 billion from RM3.13 billion. (TheEdge)
Cocoa grinder Guan Chong Bhd’s fourth quarter net profit slipped 18.76% to RM15.25 million or 1.30 sen per share, from RM18.78 million or 1.72 sen per share a year ago, dragged by increased finance cost from higher borrowings, and also due to lower grinding margins and higher tax expenses. Revenue for the quarter ended Dec 31, 2023, however, jumped 59.16% to RM1.8 billion from RM1.13 billion previously, thanks to higher selling prices of cocoa butter, cocoa solids and industrial chocolate, the group said in a filing with Bursa Malaysia on Wednesday. (TheEdge)
Affin Bank Bhd said 2023 was a challenging year as the industry was faced with margin compression, which impacted net interest income. "Net interest margin (NIM) compression has continued to impact revenue, but the group has shown resilience by building stronger and deeper foundations for current account savings account (Casa), loan growth, gross impaired loans, loan loss coverage, and customer acquisitions that will catapult us into the future," said president and group CEO Datuk Wan Razly Abdullah in a statement. (TheStar)
Construction firm Kerjaya Prospek Group Bhd’s net profit margin will likely improve in coming quarters on lower tax and potential writeback in provisions, said its chairman on Thursday. Net profit margin for the fourth quarter ended Dec 31, 2023 (4QFY2023) came in at 7.3% from 10% over the same period a year ago. Chairman Datuk Tee Eng Ho noted that the tax rate was higher at 30% versus the usual 24% due to profit from construction of properties yet to be sold. (TheEdge)
Shares in e-government services provider MyEG Services Bhd rose to a two-month high on Thursday’s morning trade after its full-year earnings beat analysts’ expectations. The counter increased by 5.06% to a high of 83 sen before paring gains to 81 sen as of 11am – still up two sen or 2.53% — giving it a market capitalisation of RM6.08 billion. The benchmark index of FBM KLCI, meanwhile, rose 0.31%. (TheEdge)
Source: New Straits Times, The Edge Markets The Star 29 February 2024
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