KUALA LUMPUR (Aug 26): Texchem Resources Bhd (KL:TEXCHEM) has redesignated its executive director Dr Yuma Konishi as the group chief executive officer (CEO), following the retirement of Yap Kee Keong from the post.

Yuma, who is the son of executive chairman Tan Sri Dr Fumihiko Konishi, joined the group back in 2005.

Yuma has more than 19 years of experience in the plastics industries and almost a decade spearheading Texchem’s venture into the medical life sciences industry, the group said.

Yuma holds a direct 0.09% stake in Texchem.

Yap, meanwhile, retains a 0.72% direct stake in the group, which has businesses ranging from engineering to restaurants, according to a bourse filing by Texchem on Monday.

Texchem returned to the black in the second quarter ended June 30, 2024 (2QFY2024) after six consecutive quarters of losses, thanks to higher sales across all business divisions, except for its food division, which was dragged down by higher foreign exchange losses in its Myanmar operations.

Net profit for the quarter stood at RM975,000 compared to a net loss of RM6.26 million over the same period a year ago. Earnings per share improved to 0.83 sen against a 5.32 sen loss per share in 2QFY2023.

Revenue for the quarter rose 22.58% to RM294.74 million from RM240.45 million. No dividend was declared for the quarter. The company last declared a dividend of 13 sen per share, amounting to RM15.4 million, in FY2022.

For the first half ended June 30, 2024 (1HFY2024), Texchem narrowed its net loss to RM361,000 from RM6.5 million in 1HFY2023, as revenue increased 12.07% to RM570.40 million from RM508.95 million.

Shares of Texchem closed a sen or 1.09% higher at 92.5 sen on Monday, valuing the company at RM116.26 million.

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Texchem returns to the black in 2Q after six quarters of losses