Bursa Malaysia (KLSE) Stock Investment Portal

KUALA LUMPUR: Coraza Integrated Technology Bhd's net profit rose 11.0 per cent to RM3.9 million in the fourth quarter (Q4) ended December 31, 2021 from RM3.5 million in Q3 2021.

The integrated engineering supporting services provider said its revenue increased 23.7 per cent to RM34.8 million from RM28.1 million in Q3 2021.

"This is driven by the increasing demand in semiconductor-related products, which is its core industry contribution," it said.

Its earnings per share (EPS) for the quarter increased to 1.26 sen compared with 1.13 sen in Q3 2021.

For the year ended December 31, 2021 (FY21), Coraza achieved a net profit of RM12.8 million, on a revenue of RM106.1 million.

EPS stood at 4.14 sen.

No comparative figures for the preceding corresponding quarter and year-to-date were available as it was the second interim financial report released by Coraza in relation to its earnings, in compliance with the listing requirements.

Managing director Lim Teik Hoe said the FY21 results were thus far the best financial performance in the company's history.

Lim said Coraza was on track to achieve its internal target revenue and profits as the company had expanded its production capacity and capabilities to provide new services (provision of finishing services) to the customers.

"We are set to ride on the semiconductor boom as there are no signs of a slowdown in spending or expansion by our customers, despite the uncertainties brought about by the Covid-19 pandemic," he said.

Coraza plans to build a new factory with a built-up area of about 91,110.1 square feet adjacent to its existing factory in Nibong Tebal, Penang to meet the growing demand for its services.

Construction of the new factory will be carried out in three phases, and is targeted to be completed by December 2023.

Coraza plans to buy new machinery over the next three years for both its existing and new factories.

Lim said the additional laser, turret and bending machines, which have more advanced functions, woulf increase Coraza's sheet metal fabrication capacity by 25 per cent.

On the other hand, he said the new finishing line would allow it to get the process done in-house as it was previously outsourced.

"Looking ahead, we are positive of our prospects as we continue to strengthen our competencies and competitiveness across the core business segments we operate in," he added.

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Stock: [MALAKOF]: MALAKOFF CORPORATION BERHAD

2022-02-23 18:25 | Report Abuse

KUALA LUMPUR: Malakoff Corp Bhd’s net profit tumbled 77.9% to RM9.2mil in the fourth quarter ended Dec 31, 2021 (4Q21) from RM41.64mil a year ago.

The lower profit was primarily due to write-off of Segari Energy Ventures Sdn Bhd (SEV) deferred expense, lower contribution from Tanjung Bin Energy Sdn Bhd (TBE) impacted by lower capacity payment and impairment of assets caused by plant outage as well as higher operation and maintenance costs.

However, these were partially moderated by higher contributions from Tanjung Bin Power Sdn Bhd (TBP) on the back of higher applicable coal price (ACP) as well as higher contributions from Alam Flora Sdn Bhd (AFSB) and foreign investments in associates.

Revenue, however, rose 28.4% to RM1.94bil from RM1.51bil reported a year ago, mainly due to higher energy payments recorded from TBP on the back of higher ACP and SEV given the higher despatch factor.

For the full financial year ended Dec 31, 2021, Malakoff posted a net profit of RM254.54mil on revenue of RM6.46bil.

Malakoff said the group continued to leverage on the Government’s transition to a low-energy carbon system and expanded its renewable energy (RE) portfolio with a long-term target of 1,400 MW by 2031.

To date, the group has secured rooftop solar projects with a total capacity of 24.8 MWp.

On the environmental solutions front, Malakoff said Alam Flora continued to make progress on the development of its construction and development waste facility (120 tonnes per day) in Pahang which is expected to commence operations in second quarter 2022.