KUALA LUMPUR (May 15): Here is a brief recap of some corporate announcements and happenings that made the headlines on Thursday:

Home-grown mini-market operator 99 Speed Mart Retail Holdings Bhd (KL:99SMART) posted a 7.53% year-on-year (y-o-y) increase in net profit to RM143.18 million for the first quarter ended March 31, 2025, from RM133.15 million, driven by stronger retail sales and network expansion. Quarterly revenue rose 7.66% to RM2.61 billion from RM2.43 billion. It declared its first interim dividend of 2.25 sen per share, payable on June 9. With a dividend policy of distributing approximately 50% of its net profit, 99 Speed Mart intends to declare dividends twice annually. It registered a net addition of 246 outlets y-o-y, bringing its total store count to 2,833 as of end-March. — 99 Speed Mart kicks off FY2025 with stronger sales in 1Q, pays 2.25 sen dividend

Integrated oil and gas services provider Dialog Group Bhd’s (KL:DIALOG) net profit for the January-March quarter dropped 13.57% y-o-y to RM134.97 million, from RM156.16 million, as revenue fell on lower performances from both its Malaysian and international operations. Quarterly revenue fell 17.57% to RM578.81 million — its weakest since 2QFY2022, when the topline was RM544.49 million — from RM702.2 million.  It declared an interim cash dividend of 1.3 sen per share, payable on June 26. Despite the weaker y-o-y showing, Dialog's 3QFY2025 was a turnaround for the group compared to 2QFY2025 when it incurred a net loss of RM129.49 million, even as revenue dropped 14.9% from RM680 million. — Dialog's 3Q profit drops 14% as revenue skids to over three-year low

Keyfield International Bhd’s (KL:KEYFIELD) net profit fell 31.7% for 1QFY2025 to RM20.68 million from RM30.3 million, dragged by lower fleet utilisation rates, increased off-hire costs and maintenance fees. The offshore support vessel provider said the first quarter of each year is traditionally its weakest quarter due to seasonal monsoon, and so the majority of its offshore activities, especially maintenance, are carried out.  Quarterly revenue fell 18.5% to RM86.75 million from RM106.39 million, with fleet utilisation dropping to 44.1% in 1QFY2025 from 67.1% in the same period last year. Quarterly revenue fell 18.5% to RM86.75 million from RM106.39 million, with fleet utilisation dropping to 44.1% in 1QFY2025 from 67.1% last year. It declared a dividend of one sen per share for 1QFY2025, to be paid on June 13. Its order book now stands at RM446.7 million, of which RM283.5 million is to be realised in FY2025. — Keyfield International’s 1Q profit falls 32% amid lower fleet utilisation

Swift Haulage Bhd (KL:SWIFT) posted a 65.9% drop in net profit to RM7.22 million from RM21.14 million last year, due to the absence of a one-off disposal gain that it booked a year ago. Revenue edged up 3.5% to RM185.68 million in 1QFY2025 versus RM179.35 million previously. No dividend was declared for the quarter. — Swift Haulage's 1Q profit falls 65.9% on absence of disposal gain

Having posted a 34.2% drop in first-quarter net profit, chemical supplier Samchem Holdings Bhd (KL:SAMCHEM) expects a more challenging operating environment in 2025 due to global trade disruptions, volatile foreign exchange rates and rising oversupply in the industry. It said increasing production capacity in China has worsened oversupply conditions, placing further pressure on prices and margins across the region. For 1QFY2025, it reported a net profit of RM4.01 million, down from RM6.10 million a year ago. Revenue was also down 3.5% y-o-y to RM287.76 million from RM298.24 million, mainly due to a decrease in average selling prices. — Samchem cautious on outlook after lower 1Q profit on soft margins

PBA Holdings Bhd (KL:PBA), Penang’s water supply operator, posted a 36.1% increase in net profit to RM19.54 million for 1QFY2025 from RM14.35 million a year ago, underpinned by the water tariff increase that took effect in February last year. Revenue increased 11.8% to RM124.28 million from RM111.17 million previously. Looking forward, it said revenue is expected to increase in line with Penang’s rapid industrialisation, which will result in an increase in the sale of treated water. — Penang water supply operator PBA's net profit rises 36% y-o-y after tariff adjustment

Geotechnical solutions specialist Fibromat (M) Bhd (KL:FIBRO) has bagged a RM283.5 million contract from Casa Hartamas Sdn Bhd to provide design and installation solutions. The contract, which was secured by its unit MTS Fibromat (M) Sdn Bhd, involves the supply of materials, labour, machinery, and other essential resources for the execution and completion of works related to the Central Spine Road Package 2 and Section 2A. The project will cover road construction from Sungai Lakit Bridge to Gua Musang and from Sungai Lakit Bridge to Paloh 2. — Fibromat bags RM283.5 mil road job in Kelantan

Bintai Kinden Corp Bhd (KL:BINTAI) said Tenaga Nasional Bhd (TNB) (KL:TENAGA) has reinstated three of 10 contracts that the utility company terminated two years ago, after a series of negotiations between them. The reinstated contracts, executed by Bintai Kinden's unit Kejuruteraan Bintai Kindenko Sdn Bhd (KBK), are related to defect clearance works at PMU 275kV/33kV Grik, the 132kV Subang Jaya GIS Switching Station, and the 132kV Kuchai Lama GIS Switching Station. TNB's terminations in 2023 were reported to be linked to Bintai Kinden’s financial difficulties, which arose after the suspension or withdrawal of its banking facilities. — Bintai Kinden says TNB has reinstated three contracts it terminated two years ago

BTM Resources Bhd (KL:BTM) has called off its plan to build a 10MW biomass power plant after the banking facilities it obtained for the project was cancelled. It is also considering whether to cancel another 7M biomass power plant, which it has put on hold for now. Besides the cancellation of banking facilities in February this year, it cited current market volatilities, including raw material price fluctuations as reasons behind its decision. The sawmill operator said Sustainable Energy Development Authority Malaysia had on May 8 agreed to its application to relinquish the feed-in-tariff approval certificate for the 10MW biomass power plant. — BTM Resources cancels 10MW biomass plant after losing bank funding, shelves another plant