KUALA LUMPUR (Nov 13): Here is a brief recap of some corporate announcements that made news on Wednesday.

Palm oil producer Johor Plantations Group Bhd (KL:JPG) is optimistic in the final quarter of the year, thanks to strong crude palm oil (CPO) prices. Its quarterly net profit for the three months ended Sept 31, 2024 (3QFY2024) grew 13% in the third quarter to RM77.1 million, boosted by higher sales volume and CPO prices from a year earlier, an exchange filing showed. It declared a second interim dividend of 1.25 sen per share, payable on Dec 17, 2024. Quarterly revenue increased 18% to RM404.13 million. For 9MFY2024, Johor Plantations reported a 69% surge in net profit to RM176.81 million while revenue climbed 23% to RM1.05 billion. — Johor Plantations optimistic as prices stay high after net profit rises 13% in 3Q

United Plantations Bhd (KL:UTDPLT), whose share price hit a record high on Tuesday, announced a 60 sen per share dividend payout — comprising a special dividend of 20 sen and an interim dividend of 40 sen — plus a one-for-two bonus issue. However, the dividend declared, which will be paid on Dec 10, was lower compared with 80 sen per share a year ago. The oil palm planter’s net profit for its third quarter ended Sept 30, 2024 (3QFY2024) dropped 8.8% to RM215.03 million from RM235.68 million in 3QFY2023. Its net profit was dragged by a sharp rise in operating expenses to over RM80 million. Quarterly revenue was 1.4% higher at RM547.67 million in 3QFY2024 from RM540.16 million in 3QFY2023. For the nine-month period ended Sept 30, United Plantations' net profit grew 5.3% to RM533.84 million from RM506.79 million, as revenue increased 6.8% to RM1.57 billion from RM1.47 billion. — United Plantations announces special dividend and one-for-two bonus issue as 3Q profit slips 8.8%

Information and communications technology (ICT) products distributor VSTECS Bhd (KL:VSTECS)’s revenue climbed to record high of RM841.76 million for the three months ended Sept 30, 2024 (3QFY2024). This lifted its quarterly net profit to RM19.58 million, up 54% from RM12.73 million a year ago. The improved earnings were supported by a recovery in both consumer and enterprise products as well as new product launches. It declared a first interim dividend of 2.8 sen per share, payable on Jan 9. For the 9MFY2024, its net profit grew 13.7% to RM49.13 million from RM43.23 million in the previous corresponding period, as revenue expanded 8.5% to RM2.08 billion from RM1.92 billion.  — VSTECS's 3Q profit rises 54% on record revenue, declares 2.8 sen dividend

Logistics firm Swift Haulage Bhd (KL:SWIFT)’s net profit came in lower at RM5.77 million for the third quarter ended Sept 30 (3QFY2024), down nearly 80% against RM28.3 million a year ago when it booked in RM25.47 million gain from bargain purchase. Higher finance costs also weighed its quarterly earnings. The company did not declare any dividend. Quarterly revenue grew 8.9% year-on-year to RM183.06 million. For 9MFY2024,its net profit fell 27% to RM35.25 million though revenue grew 7.5% to RM535.28 million. — Swift Haulage 3Q net profit down on absence of one-off gain, capacity expansion on track

Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) turned profitable in the third quarter ended Sept 30, 2024 (3QFY2024). Quarterly revenue jumped 42% year-on-year to RM906.46 million, thanks to improved performance of both its heavy engineering and marine segments. It posted a quarterly net profit of RM15.27 million, against a net loss of RM105.21 million in 3QFY2023. No dividend was declared. For 9MFY2024, the group made a net profit of RM99.61 million, as opposed to a net loss of RM490.37 million a year ago, as revenue rose to RM2.79 billion from RM2.19 billion. — Malaysia Marine and Heavy Engineering returns to the black in 3Q
 
Bumi Armada Bhd (KL:ARMADA) said its floating production storage and offloading (FPSO) vessel, Armada TGT1, has secured a two-year charter extension worth US$74.4 million (RM330.93 million). The bareboat charter contract was extended by Vietnam's petroleum producer Hoang Long Joint Operating Co for the Te Giac Trang field located offshore Vietnam. — Bumi Armada’s FPSO gets contract extension worth RM331 mil 

Dayang Enterprise Bhd (KL:DAYANG) has secured two more contracts to provide pan-Malaysia services to Petronas and its production sharing contractors. The contracts involve offshore maintenance, construction, and modification (MCM) as well as hook-up and commissioning (HUC) services for Package A3 for the Sarawak asset (SKA Oil) and Package A5 for the Sabah asset (SBA Southern). The values of the contracts were not specified. Dayang said the tenures of both contracts are five years effective from Sept 27, 2024. The contracts come with options to extend for three years and subsequently another two years. — Dayang Enterprise gets two more pan-Malaysia services contracts

Property developer Pasdec Bhd (KL:PASDEC) is expected to realise an estimated net gain of RM68.38 million from the proposed sale of industrial land in Kuantan, Pahang to Petroluxe Refinery (M) Sdn Bhd (PRSB) for RM73.5 million. Proceeds received from the proposed disposal will be utilised for working capital purposes for its ongoing and newly launched projects and paring down debts. The net book value of the property is about RM3.97 million as at end-Dec 2023. — Pasdec expects net gain of RM68 mil from Kuantan land sale 

Packaging solution provider Scientex Bhd (KL:SCIENTX) said it has established a perpetual multi-currency Islamic medium-term notes programme of RM1.5 billion in nominal value. The group, which lodged the Sukuk Wakalah Programme with the Securities Commission Malaysia on Wednesday, said proceeds from the issuance of the sukuk will be used to finance and reimburse capital expenditure. It will also be used to refinance existing and future financing, investment, and working capital requirements. — Scientex establishes RM1.5 bil multi-currency sukuk programme