"After taking into consideration the advice from the legal adviser, the Board of Directors of BNS has resolved and decided to serve the Notice in view of the LOAs are tainted with illegality, fraud, wrongdoing and/or are contrary to public policy and are, accordingly, void."
time to buy BSTEAD - Notice of Book Closure BSTEAD - Notice of Book Closure ILC-30122022-00001 First Interim Dividend of 1.5 sen Kindly be advised of the following : 1) The above Company's securities will be traded and quoted "Ex - Dividend? as from: 27 Feb 2023 2) The last date of lodgment : 28 Feb 2023 3) Date Payable : 27 Mar 2023 MANAGER, REF. DATA MANAGEMENT You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
useless political appointees removed by new government
Tuesday, 10 Jan 2023 6:16PM BSTEAD Change in Nomination and Remuneration Committee 6:15PM BSTEAD Resignation of HAJJAH ZURAINAH BINTI MUSA As Director 6:14PM BSTEAD Resignation of MOHD REDZUAN BIN MD. YUSOF As Chairman 6:14PM BSTEAD Resignation of NONEE ASHIRIN BINTI DATO' MOHD RADZI As Director 5:23PM BSTEAD OTHERS
The group recorded a higher net profit of RM99. 6 million in contrast to RM55. 7 million recorded for 3QFY2021 after an allocation to non-controlling interests and perpetual sukuk holders, the group said in its filing with Bursa Malaysia on Nov 29.29 Nov 2022
Boustead reports 78.8% increase in net profit despite lower PAT
Boustead tak pernah dibawah RM1 sebelum pandemik... a rising star again
Boustead Holdings Bhd's net profit surged almost seven-fold ...https://www.nst.com.my › business › 2022/05 › boustea... 27 May 2022 — KUALA LUMPUR: Boustead Holdings Bhd's net profit surged almost seven-fold to RM290.3 million in the first quarter (Q1) ended March 31, ...
Also in the spotlight is ailing Boustead Holdings Bhd and its 59.42% shareholder, Lembaga Tabung Angkatan Tentera (LTAT).
The group managing director of Boustead Holdings, Datuk Seri Mohammed Shazalli Ramly, left in November last year after completing his two-year contract. Chairman Datuk Seri Mohd Redzuan Md Yusof, who was a former minister and member of parliament under Bersatu, resigned last week.
LTAT’s chairman is General (Rtd) Tan Sri Raja Mohamed Affandi Raja Mohamed Noor, while its CEO is Datuk Ahmad Nazim Abd Rahman.
Through Boustead Holdings, LTAT has 65% equity interest in Boustead Heavy Industries Corp Bhd, 57.4% in Boustead Plantations Bhd and 20.85% in Affin Bank Bhd. LTAT also has a direct 33.08% stake in Affin Bank.
It is understood that the contract of Lembaga Tabung Haji’s (LTH) managing director and CEO Datuk Seri Amrin Awaluddin is ending in May this year and according to sources, he is not keen to have it renewed.
Some of LTH’s large investments include 30% in IT and telecommunications company Theta Edge Bhd, almost 74% in TH Plantations Bhd, 48.28% in Bank Islam Malaysia Bhd and 28.26% in insurance player Syarikat Takaful Malaysia Keluarga Bhd.
In Boustead, Shazalli inherited an organisation that had significant legacy issues, including a convoluted organisational structure with cross-holdings in Boustead subsidiaries by both Boustead and its main shareholder, Lembaga Tabung Angkatan Tentera. LTAT held a controlling stake of 59.43% in Boustead as at April 27, 2022.
Undeterred by the odds, Shazalli brought the group back on the path of profitability in just his first year at the helm as Boustead swung to a net profit of RM170 million in FY2021 against a net loss of RM551 million in FY2020.
The turnaround can be attributed to its plantation division, thanks to record-high palm product prices. The group also benefited substantially from its 51.85%-owned unit Pharmaniaga Bhd, which posted record profits from the sale of the Sinovac Covid-19 vaccines.
Boustead’s FY2021 bottom line was also propped up by one-off gains on the disposal of properties, including Royale Chulan Bukit Bintang for RM177 million and Boustead Cruise Centre for RM230 million.
The group is continuing its positive streak, registering a net profit of RM464.3 million for 9MFY2022, up 407% from RM91.5 million a year earlier. During the period, its share of profit in associates was boosted by its 20.85%-owned associate Affin Bank Bhd, which registered a gain on the divestment of its 63% stake in Affin Hwang Asset Management Bhd for RM1.42 billion.
As at Sept 30, 2022, the group’s deposits, cash and bank balances stood at RM613.4 million, up from RM463.5 million as at Dec 31, 2021. Borrowings totalled RM6.72 billion.
Shazalli left the group after two years of service, however, and his deputy Izaddeen Daud took over as group CEO on Dec 1.
INDIVIDUAL PERIOD CUMULATIVE PERIOD CURRENT YEAR QUARTER PRECEDING YEAR CORRESPONDING QUARTER CURRENT YEAR TO DATE PRECEDING YEAR CORRESPONDING PERIOD 30 Sep 2022 30 Sep 2021 30 Sep 2022 30 Sep 2021 $$'000 $$'000 $$'000 $$'000 1 Revenue 3,666,600 3,680,300 11,416,600 8,345,200 2 Profit/(loss) before tax 78,400 239,900 1,032,000 442,400 3 Profit/(loss) for the period 86,900 147,300 804,600 277,300 4 Profit/(loss) attributable to ordinary equity holders of the parent 99,600 55,700 464,300 91,500 5 Basic earnings/(loss) per share (Subunit) 4.91 2.75 22.91 4.51 6 Proposed/Declared dividend per share (Subunit) 0.00 0.00 0.00 0.00
AS AT END OF CURRENT QUARTER AS AT PRECEDING FINANCIAL YEAR END 7 Net assets per share attributable to ordinary equity holders of the parent ($$) 1.8500 1.6200
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....