KUALA LUMPUR (May 14): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:
PTT Synergy Group Bhd (KL:PTT) has secured two contracts worth a total of RM169.85 million from Sime Darby Property Bhd (KL:SIMEPROP). The first is a RM96.61 million contract for the proposed construction and completion of earthworks and ancillary works for Stage 1 (Section 1 and Section 2) at Lagong Mas, Gombak, Selangor. The group, via its wholly-owned Pembinaan Tetap Teguh Sdn Bhd, received the letter of awardfor the project from Sime Darby Property (Lagong) Sdn Bhd, a wholly owned unit of Sime Darby Property. — PTT Synergy secures two earthworks contracts from Sime Darby Property worth RM169.85 mil
Telekom Malaysia Bhd (KL:TM) said on Monday that it had signed deals with the Home Ministry relating to two contracts worth RM120.5 million, at the recent Defence Services Asia (DSA) Exhibition and Conference 2024 and National Security (Natsec) Asia 2024. TM said the contracts were awarded to its wholly owned unit TM Technology Services Sdn Bhd. "These contracts are in the ordinary course of TM’s business, and not material to TM Group," added the group in response to an article in the latest edition of The Edge Malaysia weekly. — TM says contracts awarded by Home Ministry not material to group
Aurelius Technologies Bhd (KL:ATECH) said it plans to invest RM450 million over the next five years to build a new manufacturing hub on an industrial land spanning 571,908 sq ft in the Kulim Hi-Tech Park, Kedah. Aurelius said its wholly owned subsidiary BCM Electronics Corp Sdn Bhd held a ground-breaking ceremony to mark the commencement of the new hub's construction. The first phase of the development will involve a manufacturing plant, dubbed P5, that will span over 243,977 sq ft of advanced manufacturing and research and development space with 12,945 sq ft of clean room facilities. The plant is slated for completion by the end of 2024. — Aurelius to invest RM450m in new manufacturing hub in Kulim
AME Elite Consortium Bhd (KL:AME) is selling 11 plots of freehold land measuring over 34.91 acres in Pulai, Johor Bahru, for RM209.84 million cash to Hong Kong-based data centre operator Digital Hyperspace Malaysia Sdn Bhd (DHM). The property developer said the plots of land are located in i-TechValley — a 170-acre industrial park at the Southern Industrial and Logistics Cluster (SILC) and is subject to approvals from the Johor State Government Office and other relevant authorities if the relevant land registry requires a no-objection letter from the Economic Planning Unit. — AME Elite sells land in Pulai to data centre operator for RM209.84 mil cash
Mulpha International Bhd (KL:MULPHA) on Monday said its indirect wholly owned Australian subsidiary Mulpha Norwest Pty Ltd had accepted a cash advance facility of A$100 million (equivalent to approximately RM313.07 million) from National Australia Bank Ltd to refinance borrowings and for working capital. The cash advance comprises a revolving facility of A$90 million and a bank guarantee facility of A$10 million. Mulpha Norwest's principal activity is property development. — Mulpha's Australian unit secures A$100 mil cash advance facility to refinance borrowings, working capital
Uzma Bhd [KL:UZMA] said on Monday it has secured a contract valued at US$9.27 million (RM43.9 million) to undertake standard and special application of coiled tubing and pumping services. The contract under the Zawtika gas field project from PTTEP International Ltd commenced on May 1, 2024 until June 30, 2026. The contract is Uzma’s sixth win since the start of 2024, including from Shell to provide integrated production and integrity chemical and associated services. — Uzma’s unit gets RM43.9 mil contract to undertake offshore services
Dialog Group Bhd (KL:DIALOG) said on Monday that its third-quarter net profit rose 19% from a year earlier, thanks to higher upstream output. Net profit for the three months ended March 31, 2024 (3QFY2024) was RM156.16 million compared to RM130.81 million over the same period a year earlier. Revenue for the quarter fell 13% year-on-year to RM702.2 million, from RM802.79 million.The group declared an interim dividend of 1.5 sen, against 1.3 sen for the previous corresponding period. — Dialog Group’s 3Q earnings rise 19% on higher upstream output, declares 1.5 sen dividend
GuocoLand (Malaysia) Bhd (KL:GUOCO) saw its net profit tumble 66.3% for the third quarter ended March 31, 2024 (3QFY2024), due to lower revenue from its property development division. Nonetheless, this was partially offset by a better performance of the hospitality division, thanks to higher occupancy and better average room rates. It posted a net profit of RM2.94 million for the quarter under review, from RM8.71 million a year earlier, on the back of a 20.8% decline in revenue to RM88.97 million from RM112.36 million. — GuocoLand’s 3Q net profit falls 66%, warns about property oversupply
Swift Haulage Bhd’s (KL:SWIFT) net profit more than doubled in the first quarter from a year earlier, thanks to one-off gain from a stake sale, as well as higher revenue. Net profit for the three months ended March 31, 2024 (1QFY2024) was RM21.14 million compared to RM10.13 million over the same period last year. Revenue for the quarter was up 8.9% year-on-year to RM179.35 million from RM164.75 million, due to the increase in fleet capacity for land transportation, as well as expansion of warehouse in auto logistics and the increase in depot business. — Swift Haulage’s 1Q net profit more than doubles as one-off gain helps
PA Resources Bhd's (KL:PA) net profit for the third financial quarter ended March 31, 2024 leaped by more than 51 times year-on-year, mostly contributed by its main extrusion and fabrication segment. The aluminium extruder reported a net profit of RM12.43 million, up from RM239,000 for the previous year's corresponding quarter, while revenue was up 62.4% to RM137.77 million from RM84.81 million. — Aluminium extruder PA Resources wants to double production capacity as 3Q profit jumps 51 times on higher sales