Saturday 08 Feb 2025
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KUALA LUMPUR (Aug 9): Here is a brief recap of some corporate announcements that made news on Wednesday (Aug 9) involving Hartalega Holdings Bhd, Mr DIY Group (M) Bhd, Maxis Bhd, Hup Seng Industries Bhd, AME Real Estate Investment Trust, Handal Energy Bhd, Perak Corporation Bhd and Majuperak Holdings Bhd.

Hartalega Holdings Bhd posted a net loss of RM52.47 million in its first quarter ended June 30, 2023 versus a net profit of RM88.28 million a year earlier as revenue for the period halved to RM440.04 million from RM845.67 million. Loss per share was 1.54 sen compared to earnings per share of 2.58 sen previously. The glovemaker did not declare any dividend for the quarter. On a quarter-on-quarter basis, the net loss narrowed from a net loss of RM302.76 million on the back of revenue of RM515.74 million.

Mr DIY Group (M) Bhd’s net profit increased 11.19% to RM150.32 million for the second quarter ended June 30, 2023, from RM135.19 million a year prior, on the back of higher revenue and gross profit margin. Quarterly revenue rose 4.85% to RM1.1 billion from RM1.05 billion on positive contributions from new stores. The group declared a dividend of 0.8 sen per share totalling RM75.5 million, versus RM56.6 million previously, and is equivalent to a dividend payout of 50.2% of net earnings.

Maxis Bhd's net profit climbed 2.48% to RM330 million for the second quarter ended June 30, 2023 from RM322 million a year ago, on higher service revenue, discontinued prosperity tax and prudent capital expenditure investments. Earnings per share came in at 4.2 sen from 4.1 sen previously. Revenue rose 1.98% to RM2.47 billion from RM2.42 billion. Maxis declared a second interim dividend of four sen per share, payable on Sept 29.

Hup Seng Industries Bhd’s net profit surged 187.13% to RM8.72 million for the second quarter ended June 30, 2023, from RM3.04 million a year ago. Earnings per share rose to 1.09 sen from 0.38 sen. Quarterly revenue increased 10.49% to RM81.55 million compared with RM73.81 million previously.

AME Real Estate Investment Trust (REIT) is aiming for 100% renewal of its 12 leases expiring in the financial year ending March 31, 2024 to reinforce the industrial REIT’s future earnings. On top of that, AME REIT is on the lookout for new properties in Johor, Klang Valley and the northern region to further strengthen its asset base. “In this respect, we are targeting approximately RM100 million in acquisitions to expand our portfolio, and continue to reinforce our reputation as a leading industrial REIT in Malaysia,” the REIT said. The REIT posted a net property income of RM10.71 million for the first quarter ended June 30, on revenue of RM11.39 million. No comparative figures for the preceding year are available, as the group was only listed on the Main Market of Bursa Malaysia on Sept 20, 2022.

Shares of Handal Energy Bhd surged to a nearly three-year high amid changes in ownership, which saw Seaoffshore Capital Sdn Bhd ceasing to become a substantial stakeholder, just days after Deepetro Offshore Brokers Pte Ltd emerged as its largest investor with an 11.43% stake. Seaoffshore, controlled by its group managing director Sunildeep Singh Dhaliwal and Yamani Hafez Musa, had disposed of some 46.46 million shares on the open market. Sunildeep still has a 6.41% stake in the oil and gas integrated services provider after the divestment.

Separately, Handal Energy also saw the departure of independent and non-executive chairman Tengku Baderul Zaman Ibni Sultan Mahmud and executive director Tengku Munawir Islahuddin Tengku Noone Aziz from its board effective Aug 9, citing other work commitments as the reason of resignation. Tengku Baderul, 48, who is the brother of the former Yang di-Pertuan Agong Sultan Mizan Zainal Abidin, had joined the board in July 2018 as a non-executive director before being redesignated to his latest post in January 2019. He still holds a 0.25% stake or 657,300 shares in the company. Meanwhile, Tengku Munawir, 48, was appointed as the group’s executive director in March 2020.

PN-17 status Perak Corporation Bhd is disposing of a piece of agricultural land in Perak to Kim Poh Sitt Tat Feedmill Sdn Bhd for RM5.5 million cash as part of its regularisation plan. It said it has entered into a sale and purchase agreement with KPSTF for the disposal, which is expected to be completed by year-end.

Thirty months after acquiring a 51% stake in the developer of  Nexus Residence in USJ Subang West, Majuperak Holdings Bhd has decided to sell back the stake after the vendor failed to achieve the required 50% sale of the units in the project. Majuperak is selling back the stake in Nexusbase Development Sdn Bhd to the vendor at the original sum of RM12.5 million. Majuperak said it has given notice of the invocation of share repurchase to the vendor, Sloane Infinity Asia Pacific Sdn Bhd and Sloane’s shareholder Datuk Lee Seng Khoon.

Edited ByS Kanagaraju
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