Key Corporate Updates from Malaysia

 

1. Lagenda Properties Bhd (KL):

   • 2Q Net Profit: Rose by 45.8% to RM48.4 million, driven by higher contributions from property development and construction divisions.
   • Revenue: Increased by 25.2% to RM245.8 million.
   • Dividend: Declared a three sen interim dividend, payable on October 25.

2. Perdana Petroleum Bhd (KL):

   • 2Q Net Profit: Soared fourfold to RM34.7 million, marking its highest quarterly profit in 16 years due to higher vessel utilization rates and favorable forex movements.
   • Revenue: Grew by 52.6% to RM124.59 million.
   • Dividend: No dividend declared.

3. EcoFirst Consolidated Bhd (KL):

   • Land Acquisition: Acquiring a 4.51-acre piece of freehold land in Kajang for RM35 million to develop a mixed-use project with a GDV of RM380.9 million.
   • Funding: The purchase will be funded through internal funds and bank borrowings, with the project expected to start in early 2025.

4. Kotra Industries Bhd (KL):

   • 4Q Net Profit: Declined by 4.5% to RM12.49 million due to higher tax expenses.
   • Revenue: Increased by 7.2% to RM59.82 million, driven by stronger sales of supplement products.
   • Dividend: Declared a second interim dividend of 13 sen per share, payable on October 10.

5. Batu Kawan Bhd (KL) and Kuala Lumpur Kepong Bhd (KL):

   • 3Q Earnings: KLK's net profit surged by 185.6% to RM240.2 million, while Batu Kawan’s net profit increased by 58.2% to RM131 million, both driven by strong plantation segment performance.
   • Revenue: KLK's revenue increased by 7.6% to RM5.5 billion, while Batu Kawan’s revenue grew by 6.2% to RM5.7 billion.
   • Dividend: No dividend declared.

6. Carlsberg Brewery Malaysia Bhd (KL):

   • 2Q Net Profit: Declined by 10% to RM79.40 million, impacted by higher marketing expenses and inflationary costs.
   • Revenue: Remained flat at RM507.48 million.
   • Dividend: Declared a second interim dividend of 20 sen per share.

7. YX Precious Metals Bhd (KL):

   • Listing Transfer: Received approval from Bursa Securities to transfer its listing from the ACE Market to the Main Market, effective Thursday.

8. IJM Corp Bhd (KL):

   • Contracts Awarded: Secured two contracts worth RM561 million to construct data centers in Johor and an industrial manufacturing facility in Penang, bringing its total secured jobs for the year to RM1.9 billion.

9. Sunmow Holding Bhd (KL):

   • Contract Secured: Its joint venture won a RM1.02 billion contract for road construction under the Sarawak-Sabah Link Road project.

10. Pengurusan Air Selangor Sdn Bhd:

    • Sukuk Issuance: Raised RM1.2 billion through its largest tranche of Sustainable and Responsible Investment Sukuk Kelestarian, completing its seventh issuance under a RM10 billion sukuk murabahah program.

11. Hextar Global Bhd (KL: HEXTAR):

    • 2Q Net Profit: More than doubled to RM19.16 million, driven by increased earnings from specialty chemicals and new durian trading contracts.
    • Revenue: Surged by 59.5% to RM213 million.
    • Dividend: Proposed an interim dividend of 0.5 sen per share, payable on October 4.

12. Kerjaya Prospek Group Bhd (KL):

    • Contract Awarded: Secured a RM275.29 million contract for a 50-storey building in Bandar Tanjung Pinang, Penang, expected to be completed in 38 months.

13. Malaysia Airports Holdings Bhd (KL):

    • Passenger Movements: Recorded 12.4 million passenger movements in July, the highest level post-pandemic, with a 7.3% increase from the previous month.

14. Prolintas Infra Business Trust (KL):

    • 2Q Net Profit: Reported a net profit of RM4.03 million, down from RM14.64 million a year earlier, due to higher finance costs and tax expenses.
    • Revenue: More than doubled to RM79.33 million, driven by increased toll collections.
    • Dividend: Declared a first interim distribution of 3.18 sen per unit, payable on September 18.

This roundup highlights significant developments and financial performances across various industries in Malaysia, providing insights into the latest business trends and corporate actions.