KUALA LUMPUR (Aug 23): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Capital A Bhd (KL:CAPITALA) has secured a US$443 million (RM1.9 billion) revenue bond to refinance AirAsia Bhd's lease liabilities, cover aircraft and engine maintenance costs, and support its working capital. The bond will be issued in two tranches: US$200 million from Ares Management Corp and Indies Capital Partners to reactivate pandemic-grounded aircraft, and US$243 million from existing aircraft lessors to refinance lease liabilities. The notes, issued by subsidiary AirAsia RB 1 Ltd, are due in September 2026 and August 2028. — Capital A secures US$443m revenue bond to strengthen AirAsia fleet, financials

Oil and gas services firm Bumi Armada Bhd (KL:ARMADA) logged a net profit of RM265.96 million in 2QFY2024, more than double the RM118.77 million it recorded in the same quarter a year earlier, thanks to higher margins and contributions from both floating production storage and offloading (FPSO) vessels Armada Kraken and Armada Olombendo. Revenue rose 31% year-on-year to RM578.86 million from RM441.32 million. The company did not declare any dividend for the quarter. — Bumi Armada's 2Q net profit more than doubles

Matrix Concepts Holdings Bhd's (KL:MATRIX) net profit stood at RM60.7 million in 1QFY2025, down 6% from RM64.6 million a year ago on the back of decreased revenue. Quarterly revenue fell nearly 16% to RM279.7 million from RM331.4 million a year ago, as revenue recognition from its flagship Sendayan Developments declined by 16.6% to RM250.3 million from RM300 million in the previous year. The property developer declared a first interim dividend of 2.5 sen per share, payable on October 10. — Matrix Concepts posts net profit of RM60.7 mil in 1QFY2025

Sime Darby Property Bhd (KL:SIMEPROP) saw its net profit more than double in 2QFY2024 to RM161.96 million, compared to RM71.07 million in the same period last year, driven by land sales and increased sales of industrial and high-rise homes. Revenue for the quarter surged year-on-year to RM1.2 billion from RM688.92 million. The company declared its first dividend of 1.5 sen per share for FY2024, payable on November 6. Following a strong performance in the first six months, the group is also raising its sales target for the year. — Sime Darby Property raises sales target for 2024, 2Q net profit more than doubles

Kedah-based property developer Eupe Corp Bhd (KL:EUPE) said that a recently acquired 2.46-acre land in Bangsar, Kuala Lumpur, is expected to generate gross development value (GDV) of RM300 million. The property developer plans to launch a high-rise residential project in 2026 and complete it within three years, ahead of the official four-year timeline. The land was acquired in May for RM69.18 million. — Eupe Corp sees Bangsar land yielding RM300 mil in GDV

7-Eleven Malaysia Holdings Bhd (KL:SEM) reported a 5.9% increase in net profit to RM20.49 million for 2QFY2024, compared to RM19.35 million a year ago. The increase was supported by higher revenue and lower administrative and operating expenses. Quarterly revenue rose by 3.3% to RM751.79 million, up from RM727.98 million, driven by the net addition of 94 new stores and the Hari Raya Aidilfitri festive season, which boosted consumer spending. No dividend was declared for the quarter. — 7-Eleven Malaysia’s 2Q net profit up 6% on higher revenue, lower expenses

Focus Point Holdings Bhd (KL:FOCUSP) posted a 16.5% increase in 2QFY2024 net profit to RM8.43 million from RM7.24 million a year ago, underpinned by higher revenue in its optical business and profitability turnaround in its food & beverage segment. Revenue rose 12.1% year-on-year to RM70.61 million from RM62.99 million. No dividend was declared for the quarter. — Focus Point 2Q profit rises on higher optical revenue, turnaround in F&B segment

Gold and jewellery retailer Tomei Consolidated Bhd’s (KL:TOMEI) net profit increased by 16.8% to RM19.9 million in 2QFY2024, up from RM17 million a year earlier, on the back of higher revenue. Revenue for the quarter climbed 19.5% year-on-year to RM266.9 million from RM223.4 million, thanks to higher contributions from its retail segment. No dividend was declared for the quarter under review. — Tomei reports 16.8% profit increase in 2Q on higher gold prices

Kerjaya Prospek Group Bhd's (KL:KERJAYA) subsidiary is suing Apple 99 Development Sdn Bhd, a unit of Yong Tai Bhd, for failing to pay an outstanding contract sum of RM105.14 million. The suit seeks payment of the residual sum, a declaration that Apple 99 breached a settlement agreement, and an order for specific performance of the settlement and hotel sales agreements. — Kerjaya Prospek unit sues Yong Tai subsidiary over alleged unpaid sum of RM105 mil

Kossan Rubber Industries Bhd (KL:KOSSAN) reported a net profit of RM31.34 million for 2QFY2024, a significant turnaround from a net loss of RM3.29 million a year ago, driven by higher contributions across all business segments. However, its net profit slightly declined from the previous quarter due to lower glove sales and increased costs. Revenue for the quarter rose 10.93% year-on-year to RM429.91 million. No dividend was declared for the quarter. — Kossan posts fourth consecutive quarterly profit of RM31.34m in 2Q

AEON Credit Service (M) Bhd (KL:AEONCR) has launched its sixth senior sukuk under its RM2 billion sukuk wakalah programme. The RM350 million issuance, split into two tranches (RM130 million for five years and RM220 million for six years), will be used to fund financing and refinance existing loans or sukuk. — AEON Credit issues RM350m sukuk to fund financing disbursements

Pan Malaysia Holdings Bhd (KL:PMHLDG) plans to diversify into interior design and fit-out services and change its name to Exsim Hospitality Bhd. The diversification aims to improve quality and cost control in hospitality operations. Meanwhile, the name change will reflect its new focus and leverage the established "Exsim" brand. Shareholder approval for both moves will be sought at an upcoming extraordinary general meeting. — Pan Malaysia proposes diversification and name change, secures RM47 mil fit-out contract

Mega First Corp Bhd’s (KL:MFCB) 2QFY2024 net profit grew 18.9% to RM150.36 million from RM88.61 million a year earlier, underpinned by better performances from all its operating segments. Revenue for 2QFY2024 rose 1.9% to RM331.95 million from RM325.65 million last year. The company declared a dividend of 4.5 sen per share, up from four sen per share a year ago. — Mega First Corp’s 2Q net profit up 19%, declares 4.5 sen dividend

MSM Malaysia Holdings Bhd (KL:MSM) reported a net loss of RM32.40 million for the second quarter ended June 30, 2024, reversing two previous quarters of profit. The loss was 55.6% higher than the RM20.82 million loss recorded a year earlier, due to increased raw sugar prices, higher operating costs and lower non-operational gains. Revenue rose 11.6% to RM833.08 million from RM746.23 million, driven by higher average selling prices and incentives, despite reduced sales volume. No dividend was declared for the quarter. — MSM back in the red after two consecutive quarters of profits

UEM Sunrise Bhd (KL:UEMS) reported a 23.71% decline in net profit for 2QFY2024 totalling RM18.84 million, compared to RM24.7 million a year ago. This decrease was attributed to higher operating expenses and a lower share of net results from joint ventures and associates. Revenue also fell by 43.61%, dropping to RM205.22 million from RM363.96 million last year. No dividend was declared for the quarter. — UEM Sunrise’s 2Q net profit down 24% on higher operating expenses, reduced contribution from JVs

Construction firm Sunway Construction Group Bhd (KL:SUNCON) saw its net profit rise 17.8% to RM38.87 million for 2QFY2024 from RM33 million a year ago, on improved contributions from all segments. Overall revenue for the quarter also increased 7.8% to RM651.25 million from RM604.1 million on better performance in its construction segment. The group declared a first interim dividend of 3.5 sen per share for FY2024, payable on September 26. — SunCon sees 18% rise in 2Q net profit, pays 3.5 sen dividend

REDtone Digital Bhd’s (KL:REDTONE) net profit more than doubled to RM29.5 million in 4QFY2024, up from RM11.8 million a year ago, driven by increased fair value gains from investments. This marks the company's strongest profit since its Bursa Malaysia debut over 20 years ago. Quarterly revenue surged 62% year-on-year to RM114.8 million from RM70.9 million, boosted by growth in managed telecommunication network services as well as cloud and IoT segments. An interim dividend of three sen per share was declared and will be payable on October 18. — REDtone's 4Q net profit more than doubles to RM29.5 mil on investment gains, declares three sen dividend

Bintulu Port Holdings Bhd's (KL:BIPORT) net profit rose 67.8% in 2QFY2024, compared with RM23.75 million a year earlier, thanks to lower finance cost and higher sales. Revenue for the quarter grew 11.7% year-on-year to RM196.89 million from RM176.32 million last year on an increase in cargo, more base support services as well as higher sales at the Samalaju Industrial Port. The group declared a dividend of four sen per share payable on October 8. — Bintulu Port’s 2Q net profit up 68%, declares higher dividend of four sen

Sarawak-based oil and gas services firm Dayang Enterprise Holdings Bhd's (KL:DAYANG) net profit more than doubled to RM131.44 million in 2QFY2024 from RM64.69 million a year earlier, on higher vessel utilisation rates and improved daily charter rates. Revenue for the quarter rose 49.1% to RM455.84 million from RM305.73 million, on higher vessel utilisation rates of 91%. The group declared a first interim dividend of three sen per share, payable on September 18. — Dayang Enterprise's 2Q net profit more than doubles, pays three sen dividend

Hextar Retail Bhd (KL:HEXRTL) has struck a strategic partnership with Hong Kong’s Tam Jai International Co Ltd (TJI) to introduce the Tam Jai noodle chain in Malaysia. Hextar Retail will have exclusive rights to develop, operate and manage Tam Jai in the country, with the first outlet expected to open in Kuala Lumpur in early 2025. — Hextar Retail to introduce Hong Kong's Tam Jai noodle chain in Malaysia

Property developer LBS Bina Group Bhd (KL:LBS) said its second-quarter net profit rose 4.9% to RM34.64 million from RM33.01 million a year ago, boosted by contributions from key property development projects. Revenue for 2QFY2024 increased 16.5% year-on-year to RM431.85 million from RM370.75 million, attributable to increased on-site development activities across ongoing projects, the group's bourse filing on Thursday showed. The group has not announced any dividend so far this year. — LBS’ 2Q net profit up 5% on property projects

Palm oil producer Far East Holdings Bhd (KL:FAREAST) reported an eightfold increase in net profit for 2QFY2024, reaching RM51.35 million compared to RM5.92 million a year earlier, driven by higher profits from associates and increased prices and volume. Revenue surged 83.44% year-on-year to RM180.82 million from RM98.57 million. The group declared an interim dividend of five sen per share, to be paid on September 27. — Far East’s 2Q net profit jumps eight times, expects higher volume ahead

Automation solutions provider Greatech Technology Bhd (KL:GREATEC) reported a 26.3% increase in net profit for 2QFY2024, reaching RM48.39 million compared to RM38.3 million in the same quarter last year. Revenue rose 24.3% to RM205.88 million from RM165.61 million. The company attributed this growth to its focus on cost-optimisation and timely project completion. It did not recommend any dividend for the quarter under review. — Greatech's 2Q net profit up 26% as it continues to focus on cost optimisation

Sabah-based plantation company TSH Resources Bhd (KL:TSH) saw its net profit nearly double to RM20.63 million in 2QFY2024 from RM10.56 million a year earlier, on higher profit from its palm products segment, lower corporate expenses and finance costs, coupled with an increased profit contribution from associate and joint ventures. Revenue for the quarter, however, fell 1.6% to RM252.52 million from RM256.57 million, mainly due to lower volume of fresh fruit bunches and crude palm oil (CPO) sold, despite higher average CPO and palm kernel prices. No dividend was declared during the quarter under review. — TSH Resources’ 2Q net profit nearly doubles, driven by palm products segment

Magnum Bhd (KL:MAGNUM) reported a 12.1% increase in second-quarter revenue, reaching RM601.89 million, compared to RM537.09 million a year earlier, driven by higher gaming revenue. However, net profit only rose 4.1% to RM45.44 million from RM43.64 million due to losses in its investment holdings division, higher operating expenses and lower fair value gains. The group declared a dividend of two sen per share, payable on September 20. — Magnum's 2Q net profit up 4%, declares two sen dividend

WCE Holdings Bhd (KL:WCEHB), the operator of the West Coast Expressway (WCE) project, logged its fifth consecutive quarterly net loss, primarily due to interest expense incurred in relation to project financing for completed sections of the highway. However, the group's net loss for 1QFY2025 narrowed to RM25.86 million from RM26.41 million in 1QFY2024. Quarterly revenue fell 34.9% to RM75.57 million from RM116.04 million. — WCE Holdings posts fifth consecutive quarterly loss despite jump in toll collection