<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 5): Upstream oil and gas services provider Uzma Bhd (KL:<a href="/askedge/klse/7250" class="ce-stock" target="_blank">UZMA</a>) said it has won a contract to supply a hydraulic workover unit for two offshore platforms in East Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>The contract was granted by PTTEP Sarawak Oil Ltd to Uzma’s wholly owned unit Uzma Engineering Sdn Bhd, the group told Bursa Malaysia on Wednesday.</p></div>

<div class=newsTextDataWrapInner><p>The contract came into effect on July 4 and will be valid until the completion of six firm wells, Uzma said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group did not provide the value of the contract, but said the project is expected to contribute positively towards its earnings and net assets for the financial year ending June 30, 2025 and onwards until the expiry of the contract.</p></div>

<div class=newsTextDataWrapInner><p>On July 23, Uzma announced that its subsidiary, MMSVS Group Holdings Co Ltd Thailand, had secured a RM19 million contract from PTTEP Energy Development Company Ltd. This contract involves providing infill well preparation services to support drilling activities.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Uzma gained four sen or 4.12% to close at RM1.01 on Wednesday, giving the group a market capitalisation of RM459.85 million. Year-to-date, the counter has gained over 34%.</p></div>


Upstream oil and gas services provider Uzma Bhd (KL:UZMA) said it has won a contract to supply a hydraulic workover unit for two offshore platforms in East Malaysia.

Uzma secures hydraulic workover unit project from PTTEP Sarawak

Colform Group Bhd’s upcoming debut on the ACE Market of Bursa Malaysia Securities has received the nod from the capital market operator, the steel and building material specialist based in Kota Kinabalu said.

Sabah-based IBS system maker Colform gets Bursa nod for ACE Market listing

Negri Sembilan Oil Palms Bhd (KL:NSOP), which shares the same major shareholder and management with Chin Teck Plantations Bhd (KL:CHINTEK), has declared a 14 sen dividend payout — comprising a special nine sen and second interim five sen payout — after reporting a 26.6% jump in its third quarter net profit from the previous year, largely on higher revenue.

Negri Sembilan Oil Palms pays 14 sen dividend, including special nine sen payout as 3Q profit jumps

Here is a brief recap of some corporate announcements that made the news on Thursday.

TNB, CIMB, Alliance Bank, HLFG, Hong Leong Bank, Axiata, IHH, Sime Darby, Genting, GENM, PPB, Capital A, Berjaya Corp, Supermax, Farm Fresh, Chin Teck, Icon Offshore, Globetronics

High-quality corporate reporting could play a role within the Madani Economy framework, where Malaysia aims to 'raise the ceiling' by expanding the economic pie, fostering broader participation and increasing the complexity of our economy.

High-quality corporate reporting can help country ‘raise ceiling’, says Amir Hamzah

The SA Sentral and Section 13 development plan, set to be implemented over the next seven years starting next year, will cover 58.6 hectares (145 acres) and aims to transform the area into a modern, dynamic, and competitive integrated hub in the country.

PKNS unveils development plan for SA Sentral 

The flood situation in Kelantan, Terengganu, Kedah, and Perlis continues to decline, with the number of victims increasing on Thursday night, while the flooding in Johor was over when the last temporary relief centre was closed this afternoon.

Number of flood victims across four states rises, Johor fully recovers 

Wellcall Holdings Bhd (KL:WELLCAL) declared a special dividend on top of an interim dividend, despite a 56.22% drop in the industrial rubber hose maker’s fourth quarter net profit — mainly due to foreign exchange (forex) losses.

Wellcall's 4Q profit drops 56% on forex loss, pays 2.2 sen dividend

Icon Offshore Bhd (KL:ICON), which has proposed a name change to Lianson Fleet Group Bhd, posted a threefold jump in net profit for the third quarter on higher daily charter rates.

Icon Offshore mulls rename to Lianson Fleet Group, 3Q profit triples on higher daily charter rates

France will sharply reduce subsidies for electric-car purchases in the coming days, with a new scale ranging from €2,000 (RM9,364) to €4,000 based on income, down from the previous range of €4,000 to €7,000, a government source said on Thursday.

France slashes electric car subsidies amid budget crunch

WCE Holdings Bhd’s (KL:WCEHB), the concessionaire of the West Coast Expressway (WCE) project, extended its loss-making streak to six straight quarters with a net loss in the July-September quarter, mainly due to interest expenses related to project financing for the completed sections of the highway.

WCE logs sixth straight quarter in the red, eyes return to profit on highway completion

<p>Genting Malaysia Bhd's (KL:GENM)&nbsp;third-quarter net profit jumped over threefold from the previous year, as it recognised net unrealised foreign exchange (forex) translation gains totalling RM601.8 million on its US-dollar denominated borrowings, as opposed to a forex loss of RM1.7 million previously.&nbsp;</p>


Genting Malaysia's 3Q profit highest in nearly six years on forex gains

<p>Gaming-to-plantation conglomerate Genting Bhd (KL:GENTING) reported a 57% drop in its third-quarter net profit, as it was hit by higher property, plant and equipment (PPE) write-off totalling RM207.3 million, as opposed to RM1.3 million previously.</p>


Genting's 3Q net profit more than halves on higher write-off

<p>Supermax Corp Bhd (KL:SUPERMX) extended its streak of losses to seven quarters, as a surge in&nbsp;operating expenses sank the glovemaker&nbsp;into the red,&nbsp;compounded by currency losses.</p>


Supermax trudges through 1Q as losses pile up, expects better finances next year

<p>The weaker US dollar was a tailwind to Capital A Bhd (KL:CAPITALA) in the third quarter ended Sept 30, 2024 (3QFY2024).</p>

<p>After four consecutive quarters of losses, Capital A posted a record-high net profit of RM1.64 billion for 3QFY2024, as opposed to a net loss of RM102.75 million a year ago, as the group recognises RM2.27 billion in foreign exchange (forex) gains compared with a forex loss of RM93.92 million in the corresponding quarter.</p>


Forex gains of RM2.27 bil lift Capital A earnings to record high in 3QFY2024 

<p>The total cost of the expansion of the Penang International Airport (LTAPP) is estimated at RM1.55 billion, with almost all of it to be financed through a private financing initiative by Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT).</p>


Penang airport expansion estimated at RM1.55b, almost fully funded by MAHB — exco

<p>China's ByteDance is suing a former intern for US$1.1 million (RM4.9 million), alleging he deliberately attacked its artificial intelligence large language model training infrastructure, a case that has drawn widespread attention within China amid a heated AI race.</p>


ByteDance seeking US$1.1m damages from intern in AI breach case, report says

<p>Tenaga Nasional Bhd (KL:TENAGA) posted an 85% rise in net profit to RM1.58 billion for its third quarter ended Sept 30, 2024 (3QFY2024) thanks to hefty foreign exchange (forex) gains, against RM856.2 million in the same quarter last year, according to the utility giant’s bourse filing on Thursday.</p>


TNB 3Q profit up 85% on RM1.12b forex gain

<p>Berjaya Corp Bhd (KL:BJCORP) kicked off its new financial year with another quarterly loss dragged by its retail and services businesses, but said it is optimistic that some of the units will improve.</p>


Berjaya Corp suffers another quarterly loss, optimistic some segments will improve

<p>The National Kidney Foundation (NKF) has on Thursday managed to quash the Inland Revenue Board’s decision in 2020 to withdraw the tax-exemption status of the charitable organisation.</p>


Court quashes IRB’s withdrawal of tax-exempt status of National Kidney Foundation

<p>IHH Healthcare Bhd (KL:IHH) said its third quarter core net profit, excluding exceptional items that included adjustments made due to an accounting rule application, jumped 43% from the previous year on higher patient volumes and as its hospitals take on more complex cases.</p>


IHH Healthcare reports 43% jump in core profit on higher patient volumes

<p>Alliance Bank Malaysia Bhd (KL:ABMB) said its second-quarter net profit increased marginally by 2.47% year-on-year (y-o-y), mainly driven by revenue growth which was offset by higher allowances for expected credit losses and operating expenses.</p>


Alliance Bank’s 2Q net profit up 2.5%, pays 9.5 sen dividend

<p>The bidding for the development of Battery Energy Storage Systems (BESS) for the electricity supply system in Peninsular Malaysia will open Friday, according to the Energy Transition and Water Transformation Ministry (Petra).</p>


Petra: Bidding for battery energy storage system development in peninsula opens tomorrow

<p>ON an evening in June 1995, at an upmarket restaurant in Jalan U Thant, Ampang, Kuala Lumpur, a slightly built, not very tall man walked in with a lady, presumably his wife, and was fawned upon by the owner of the establishment, an ambitious, young woman who seemed to know the older couple.</p>
...

Special Report: Daim’s meteoric rise and his legacy

<p>The Malaysian Anti-Corruption Commission (MACC) has completed its investigation into the investments made by several government entities in the e-commerce platform FashionValet.</p>


MACC completes probe into FashionValet

<p>In the suburban neighbourhood of SS12 in Subang Jaya, residents’ needs are met by the mini commercial area on Jalan SS12/1B. Each of the 14 two-storey shophouses measures 1,320 sq ft and has a built-up area of 2,300 sq ft. The commercial area is quiet during weekdays and busy on weekends, often l...

Streetscapes: A cosy enclave in SS12, Subang Jaya

<p>Globetronics Technology Bhd (KL:GTRONIC) said it is partnering Canada-headquartered POET Technologies Inc to work together on advanced manufacturing and testing of optical engines, designed for applications such as data centres and telecommunications.</p>


Globetronics partners with Canada's POET Technologies to manufacture optical engines for data centres

<p>Malaysia’s central bank said on Thursday it has asked insurance companies to review their repricing strategies amid public concerns over a spike in premiums of medical and health insurance products.</p>


BNM asks insurers to be 'more reasonable' with premium repricing

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EVENING 5: Five things you need to know today

<p>PPB Group Bhd's (KL:PPB) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) fell 44.1% to RM208.12 million, from RM372.55 million a year earlier, largely due to lower contribution from its 18.8%-owned associate Wilmar International Ltd, as well as lower profit from its core business segments.</p>


PPB 3Q profit falls 44% on lower Wilmar contribution

<p>The Ministry of Transport (MOT) will examine the implications of making car insurance compulsory for private car passengers, as it could, among others, significantly impact insurance costs for vehicle owners.</p>
