KUALA LUMPUR (Feb 26): Here is a brief recap of some corporate announcements that made the news on Monday.

Petronas Chemicals Group Bhd’s (PetChem) net profit for the financial year ended Dec 31, 2023 slumped 73% to RM1.69 billion from RM6.32 billion, against a backdrop of volatile chemicals market and interruptions at its plants. Revenue for the year dipped to RM28.67 billion from RM28.95 billion. For the fourth quarter, PetChem's net profit fell 76% to RM112 million from RM481 million on the back of revenue of RM7.21 billion versus RM8.70 billion. PetChem declared a dividend of five sen per share amounting to RM400 million, payable on March 26. Total dividends for FY2023 came in at 41 sen per share, totalling RM1 billion. — Petronas Chemicals FY2023 net profit down 73% to RM1.69b, declares five sen dividend

Petronas Dagangan Bhd (PetDag) said its net profit rose by 25% in the fourth quarter from a year earlier thanks to high volume growth on the back of higher demand. Net profit for the three months ended Dec 31, 2023 stood at RM180.81 million compared to RM144.46 million over the same period the prior year. Revenue increased by 6% year-on-year (y-o-y) to RM10.08 billion from RM9.5 billion. PetDag declared a dividend of 27 sen per share for the quarter under review, bringing the total dividend for the year to 80 sen per share, a slight increase from the total dividend of 76 sen per share declared in FY2022. For the full year, PetDag registered a net profit of RM943.08 million, up 21.4% from the prior year’s RM776.60 million. Its revenue increased 2.2% to RM37.55 billion from RM36.75 billion. — PetDag posts 25% rise in 4Q profit on high volume growth, declares 27 sen dividend

United Plantations Bhd has declared a final dividend of 70 sen per share, along with a special dividend of 40 sen per share, for the financial year ended Dec 31, 2023 (FY2023), as annual net profit jumped to a new record high of RM711 million. This brings total dividends for FY2023 to a record high of RM1.90 per share, up 36% from the RM1.40 paid for FY2022. The group's FY2023 record high net profit was 17% higher than the RM606 million it made in FY2022, and the increase was mainly due to higher commodity prices and the group's efforts in optimising yields, with a "commendable performance recorded for the downstream segment". — United Plantations declares final and special dividends of RM1.10 as it closes FY2023 on record high profit

Inari Amertron Bhd's net profit fell 7.26% y-o-y to RM86.81 million in the second quarter ended Dec 31, 2023 (2QFY2024) from RM93.61 million, due to set-up costs for new products and higher electricity costs. The decline more than offset the impact of higher revenue, which rose 2.89% to RM414.08 million, from RM402.46 million a year ago, thanks to a high loading volume in radio frequency (RF) and optoelectronics segments. Inari declared a dividend of 2.2 sen per share, bringing its 1HFY2024 payout to 4.4 sen per share, down from 4.8 sen per share a year ago. In the first half ended Dec 31, 2023 (1HFY2024), Inari’s net profit fell 14.05% to RM171.79 million, from RM199.86 million a year ago, while revenue rose 2.38% to RM798 million from RM779.46 million on higher RF segment growth. — Inari's 2Q net profit down 7% as power, other costs drag

AMMB Holdings Bhd said its net profit rose 22% in the third quarter from a year earlier as tax credits helped offset provisions for bad loans. Net profit for the three months ended Dec 31, 2023 was RM543.41 million versus RM444.21 million in the same period a year earlier. The company booked a one-off tax credit of RM537.6 million as well as RM435.29 million in allowances for impairment on loans, advances and financing. For the nine months ended Dec 31 (9MFY2024), AMMB’s net profit rose 8.59% to RM1.39 billion from RM1.28 billion while allowances for impairment on loans, advances and financing jumped to RM657.34 million against RM337.46 million a year ago. — AMMB books RM435m impairment but tax credit helps lift 3QFY2024 earnings to record high

LPI Capital Bhd's net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) jumped 44% y-o-y to RM78.6 million from RM54.6 million, primarily due to the absence of the one-off prosperity tax that was imposed in FY2022. Revenue rose 26.5% to RM481.4 million from RM380.5 million in 4QFY2022, boosted mainly by its general insurance segment. The group declared a second interim dividend of 40 sen per share, up from 35 sen per share in FY2022 payable on March 20. For the full FY2023, the group's net profit came in 24.4% higher at RM313.7 million compared with RM252.2 million in FY2022 as revenue rose 16.5% to RM1.91 billion from RM1.63 billion on higher insurance revenue as well as increased interest and dividend income. — LPI's 4Q profit jumps 44% on absence of prosperity tax, declares 40 sen dividend

FGV Holdings Bhd’s net profit fell 92% to RM103 million in 2023 from RM1.33 billion in 2022 as the group’s mainstay plantation business' earnings plummeted amid lower average crude palm oil (CPO) prices. Revenue for the financial year ended Dec 31, 2023 (FY2023) dropped 24.26% to RM19.36 billion from RM25.56 billion in the previous year. FGV has agreed to declare a final dividend of three sen per share, involving a payout of RM109.44 million, for FY2023. For the fourth quarter of FY2023, FGV saw a 79% drop in net profit to RM71.83 million from RM344.3 million a year earlier, as average CPO price fell to RM3,789 per tonne versus RM4,432 previously. Quarterly revenue dropped 12.03% y-o-y to RM5.36 billion from RM6.1 billion. — FGV's 2023 net profit down 92% on lower palm oil prices

D&O Green Technologies Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) jumped 79.34% to RM24.32 million from RM13.56 million a year earlier, fuelled by higher revenue following a 21% jump in global car sales, as well as margin expansion. Revenue for the automotive light-emitting diode (LED) maker jumped 25.39% to RM309.97 million in 4QFY2023 from RM247.2 million in 4QFY2022. It proposed a first interim dividend of 0.3 sen per share for FY2023, payable on March 29. Despite the stronger fourth quarter, D&O's net profit for FY2023 fell 41.26% to RM44.14 million from RM75.15 million in FY2022, as margin was dragged down by ongoing capacity expansion efforts as well as finance costs. This is despite the group posting a fresh all-time high full-year revenue of RM1.02 billion, up 3.42% from RM983.03 million previously, on strong customer demand. — D&O's 4Q earnings jump 79% on higher sales, profit margin

Syarikat Takaful Malaysia Keluarga Bhd reported a 4.76% increase in its fourth quarter net profit from a year earlier, thanks to higher contribution from its group and general takaful segment. Net profit for the quarter ended Dec 31, 2023 (4QFY2023) was up to RM70.32 million or 8.4 sen per share, from RM67.12 million or 8.02 sen per share a year earlier. Revenue for the quarter also increased by 4.81% y-o-y to RM1.13 billion, from RM1.08 billion, driven by higher overall contributions of the group takaful segment. For the full year, Takaful Malaysia’s net profit jumped 22.64% to RM346.91 million or 41.42 sen per share, from RM282.86 million or 33.82 sen per share in FY2022. Full-year revenue also rose 15.09% to RM3.46 billion, from RM3 billion in the preceding year’s corresponding period. — Takaful Malaysia's 4Q net profit up 5% on higher contribution from group and general takaful segment

Cahya Mata Sarawak Bhd’s (CMS) fourth quarter net profit jumped 71.1% to RM36.25 million from RM21.18 million a year prior, as the group’s cement segment returned to profitability. Revenue for the quarter ended Dec 31, 2023 rose 7.86% y-o-y to RM332.65 million from RM308.4 million. CMS has proposed a first and final dividend of two sen per share. For the full year, CMS’ net profit more than halved to RM115.13 million from RM287.13 million, mainly as the group recognised a one-off gain of RM197.78 million in FY2022. Full-year topline rose 18.82% to RM1.2 billion from RM1.01 billion in FY2022, on the back of higher contributions from its cement and oiltools divisions. — Cahya Mata Sarawak 4Q net profit up 71% as cement business returns to profitability

Allianz Malaysia Bhd’s net profit rose 11.69% to RM193.69 million in the fourth quarter ended Dec 31, 2023 (4QFY2023) from RM173.46 million a year earlier, lifted by better contributions from its life insurance segment. Revenue for the quarter grew 13.43% to RM1.31 billion from RM1.15 billion. For the full FY2023, Allianz Malaysia’s net profit grew 19.1% to RM730.91 million from RM613.67 million in the previous year, as revenue expanded 11.83% to RM4.94 billion from RM4.42 billion. It paid RM1.005 sen per share in dividends for the year, up from 85 sen for FY2022. — Allianz Malaysia’s 4Q profit rises 12% on stronger life insurance segment

SKP Resources Bhd posted a 42.48% drop in its net profit to RM23.44 million for its third quarter ended Dec 31, 2023 (3QFY2024) from RM40.74 million a year earlier, on reduced sale orders amid softer market demand. Revenue declined 38.78% to RM453.1 million from RM740.13 million in 3QFY2023. For the nine-month period, SKP’s net profit fell 42.05% to RM72.09 million from RM124.4 million in the same period of FY2023 as revenue declined 30.87% to RM1.4 billion from RM2.03 billion. — Lower sales orders drag SKP’s 3Q net profit down 42%