KUALA LUMPUR (Aug 22): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

YTL Corp Bhd's (KL:YTL) net profit for 4QFY2024 fell 2.5% to RM534.48 million from RM548.03 million a year earlier, with revenue dropping 10.2% to RM8.27 billion from RM9.21 billion, due to reduced construction activity, lower cement and building materials sales, and the lack of a one-off project revenue. The company declared an interim dividend of 4.5 sen per share, payable on November 29. In contrast, its indirect unit, Malayan Cement Bhd (KL:MCEMENT) saw a 38.5% increase in net profit to RM110.18 million from RM79.55 million, with revenue rising 3.1% to RM1.04 billion from RM1.01 billion, driven by stable selling prices and improved operational efficiencies. Malayan Cement declared a second interim dividend of six sen per share to be paid on November 15. — YTL Corp ends FY2024 on positive footing, pays 4.5 sen dividend

Maxis Bhd (KL:MAXIS) posted a 7.88% rise in its second-quarter net profit thanks to higher consumer service revenue and its enterprise business. Its net profit for 2QFY2024 was RM356 million, compared with RM330 million a year earlier, as revenue rose 4.7% to RM2.59 billion from RM2.47 billion. The group declared a second interim single-tier tax exempt dividend of four sen per share, to be paid on September 23. — Maxis posts 8% rise in 2Q net profit, declares four sen dividend

Cape EMS Bhd’s (KL:CEB) net profit shrank 42.6% to RM8.7 million in 2QFY2024 from RM15.16 million a year ago, despite higher revenue of RM166.57 million versus RM121.78 million previously. The group attributed the large earnings contraction to narrower gross profit margin, due to the exclusion of sales from thermal energy devices and an increase in freight costs. The sharp fall in quarterly profit was also dragged by higher administrative expenses. It did not declare any dividend for the quarter under review.  — Cape EMS 2Q net profit falls 43%, hit by receivable impairment and high administration costs

Healthcare group TMC Life Sciences Bhd (KL:TMCLIFE) saw its net profit for 4QFY2024 drop 92.3% to RM1.02 million from RM13.25 million a year ago. Quarterly revenue also fell 12.4% to RM74.12 million from RM84.65 million a year earlier due to reduced patient volume, case intensity and contract terminations. The group proposed a final dividend of 0.4898 sen per share and a special dividend of 1.7271 sen per share for FY2024, both payable on January 3, 2025. — TMC Life proposes dividends of over 2.2 sen as it ends FY2024 on positive footing

YTL Power International Bhd's (KL:YTLPOWR) net profit for 4QFY2024 fell 5.6% to RM1.07 billion from RM1.14 billion a year earlier, due to lower contributions from its power generation and investment holding segments. Quarterly revenue declined 10.5% to RM6.34 billion from RM7.09 billion. The company declared a second interim dividend of four sen per share, payable on November 29. — YTL Power's FY2024 net profit up 71%, pays four sen dividend

SD Guthrie Bhd (KL:SDG) reported a 9% increase in its net profit for 2QFY2024, reaching RM415 million, up from RM380 million a year earlier. The rise was attributed to higher prices, increased output and improved downstream margins. Revenue also grew 15.33% to RM4.97 billion from RM4.31 billion. The company declared an interim dividend of 4.65 sen per share, payable on November 15. — SD Guthrie posts 9% rise in 2Q net profit, to pay 4.65 sen dividend

It is also collaborating with TH Properties Sdn Bhd to develop Malaysia’s first halal-certified managed industrial park in Negeri Sembilan. The park, located on SD Guthrie’s 464-acre estate in Bukit Pelandok, will have a land development value exceeding RM220 million. This new park will expand TH Properties’ international halal hub, techpark @ enstek, and is expected to attract local and international companies interested in Malaysia's halal certification. — SD Guthrie, TH Properties mulling RM220m industrial park development

Powerwell Holdings Bhd (KL:PWRWELL) has secured a RM14.75 million contract to supply electrical low-voltage switchboards for a data centre in Malaysia. The contract, with a "leading international contractor", is expected to be completed by 3Q2024 and is anticipated to positively impact its earnings and net assets for FY2025. — Powerwell bags contract to supply electrical low-voltage switchboards for data centre

LPI Capital Bhd (KL:LPI) reported a 23% increase in its net profit for 2QFY2024, reaching RM78 million, up from RM63.4 million a year earlier. This growth was driven by higher earnings from its general insurance segment. Revenue inched up 1.5% to RM469.4 million from RM462.36 million. The company declared a first interim dividend of 30 sen per share, payable on September 13. — LPI's 2Q net profit rises 23% on general insurance, declares 30 sen dividend

Pos Malaysia Bhd (KL:POS) reported a wider net loss of RM55.92 million for 2QFY2024, a 107% increase from RM27.01 million a year earlier due to lower revenue from its postal and logistics segments. Revenue declined 4.7% to RM443.43 million from RM465.2 million. No interim dividend was declared. — Pos Malaysia's 2Q net loss doubles on lower revenue from postal and logistics segments

Dairy manufacturer Dutch Lady Milk Industries Bhd (KL:DLADY) saw its net profit fall 9.1% to RM22.04 million in 2QFY2024 from RM24.25 million a year earlier due to accelerated asset depreciation and transition costs related to its new facility. Revenue rose 2.8% to RM360.87 million, driven by higher sales volume and price increases. No dividend was declared. — Dutch Lady's 2Q net profit down 9% amid depreciation of assets, one-off transition costs

Amway (Malaysia) Holdings Bhd (KL:AMWAY) said its second quarter net profit increased 38.3% year-on-year to RM24.55 million from RM17.74 million despite lower sales, attributable to price increases and a lower provision of sales incentives. Quarterly revenue declined 13.7% to RM296.45 million from RM343.69 million, due to softer consumer demand, coupled with higher comparison in the previous year’s quarter resulting from a pre-price increase buy up. The group declared a second interim dividend of five sen, payable September 20. — Amway's 2Q net profit up 38% on lower sales incentives

Apex Healthcare Bhd’s (KL:AHEALTH) net profit for 2QFY2024 declined 92.82% to RM23.64 million, compared with RM329.48 million a year earlier, due to lower share of earnings from its 40% associate Straits Apex Group Sdn Bhd (SAG). Revenue rose 11.02% to RM238.74 million, from RM215.03 million, amid robust sales of pharmaceuticals, consumer healthcare products and medical devices to both private- and public-sector customers. The group declared an interim single-tier dividend of three sen per share for 2QFY2024 to be paid on September 18. — Apex Healthcare's 2Q net profit drops on lower associate earnings, declares three sen dividend

Thong Guan Industries Bhd's (KL:TGUAN) net profit for 2QFY2024 dropped slightly by 3.2% to RM20.9 million from RM21.58 million a year ago, despite a 4.32% increase in revenue to RM303.24 million from RM290.69 million. The decline in profit was due to higher selling and distribution expenses, as well as increased administrative costs. The company declared a 2.5 sen per share interim dividend, payable on October 18. — Thong Guan's 2Q net profit drops marginally, pays 2.5 sen dividend

Tan Sri Hamdan Mohamad, founder of Ranhill Utilities Bhd (KL:RANHILL), has resigned as the group's chief executive officer, following his earlier departure as executive chairman and director on August 2. However, the company has not yet announced successors for both CEO and chairman roles. — Ranhill founder Hamdan Mohamad vacates CEO post

Oil and gas services provider Deleum Bhd (KL:DELEUM) reported a 130% increase in its second-quarter net profit to RM22.4 million from RM9.73 million, driven by strong performances in its power and machinery and oilfield integrated services segments, along with forex gains and a reversal of trade receivable impairments. Revenue grew 20.1% to RM225.9 million from RM188.1 million, with the power and machinery segment contributing 78.2% of total revenue. Deleum also declared a higher interim dividend of four sen per share. — Deleum's 2Q net profit more than doubles to record high, declares four sen dividend

Pharmaniaga Bhd (KL:PHARMA) saw its net profit rise 42.6% to RM2.79 million for 2QFY2024, up from RM1.96 million a year earlier, as it recorded tax refunds and lower operating costs to offset weaker revenue and higher finance costs. Quarterly revenue fell 1.2% to RM838.26 million from RM848.73 million a year ago on weaker non-concession segment, offset by increased demand in Indonesia. The group did not announce any dividend for the quarter. — Pharmaniaga 2Q profit rises on tax treatment, lower operating costs

Digital marketing and advertising services firm JcbNext Bhd (KL:JCBNEXT) has reduced its stake in Taiwan-listed 104 Corp, selling 549,029 shares for NT$128.04 million (about RM18.37 million) between May 16 and August 21. Its holding in 104 Corp has decreased from 16.9% to 15.3%. The disposal is expected to yield a net gain of RM10.53 million, compared to the original investment cost of RM5.42 million. — JcbNext sells more shares in Taiwan-listed 104 Corp

Builder Tuju Setia Bhd (KL:TJSETIA) has secured a RM247.95 million contract from Sime Darby Property Bhd to build Hype Residences, a project in USJ 7, Subang Jaya. The development includes two 39-storey towers and a podium car park, with a gross development value of RM597.2 million. The project, awarded to Tuju Setia's subsidiary Pembinaan Tuju Setia Sdn Bhd, is set to begin on August 22 and will span 33 months. It is expected to enhance the group's earnings and net assets from FY2024. — Tuju Setia bags RM248m construction job from Sime Darby Property

Glomac Bhd (KL:GLOMAC) plans to raise up to RM3 billion via a sukuk wakalah programme to finance land acquisition, refinance debts and fund capital expenditures. The programme, lodged with the Securities Commission Malaysia, is unrated with a perpetual tenure. The first issuance is expected within 90 business days, with each sukuk having a tenure of over one year. — Glomac plans to raise up to RM3 bil via sukuk programme

Tenaga Nasional Bhd (TNB) is exploring the expansion of its renewable energy portfolio with two large hydroelectric power plants in Lebir, Kelantan, and Pekan, Pahang, through its subsidiary TNB Power Generation Sdn Bhd (TNB Genco). The potential projects could exceed the power generation capacity of its current 300MW hydro plant under construction in Nenggiri, Kelantan. — TNB mulls two large hydro projects in Kelantan, Pahang