KUALA LUMPUR (Nov 19): Here is a brief recap of some corporate announcements that made the news on Tuesday.

Hibiscus Petroleum Bhd’s (KL:HIBISCS) net profit for the first financial quarter ended Sept 30, 2024 (1QFY2025) fell 51% to RM75.6 million from RM154.3 million a year earlier, dragged by planned shutdowns at four of its assets, lower oil and gas prices and the strengthening ringgit versus the US dollar. Quarterly revenue also dropped 36.1% to RM477.4 million from RM746.62 million a year earlier, with less oil, condensate and gas sold as well as lower average selling price. The group declared a first interim dividend of two sen per share, payable on Jan 22, 2025. — Lower selling price, volume, strong ringgit drag Hibiscus Petroleum's 1Q profit down by half

Dutch Lady Milk Industries Bhd’s (KL:DLADY) net profit in the third quarter ended Sept 30, 2024 (3QFY2024) rose a marginal 2.5% to RM17.22 million from RM16.79 million a year ago thanks to lower tax expenses. This was despite quarterly revenue having fallen 4.6% to RM355.45 million from RM372.78 million a year ago, as the group’s transition into the new factory in Bandar Enstek temporarily impacted the availability of products for sales, while promotional campaigns drove sales higher in the same period last year. The group declared a second interim dividend of 25 sen per share, payable on Dec 13. — Dutch Lady posts higher 3Q net profit on lower tax expenses but operating profit drops 16.5%

Dialog Group Bhd's (KL:DIALOG) net profit in 1QFY2025 grew 14.2% to RM150.97 million, from RM132.17 million a year ago, driven by better performance by its midstream business. This was despite revenue dropping 18.7% to RM634.45 million — the lowest since 3QFY2022 — compared with RM780.45 million previously. It did not declare any dividend for 3QFY2024. — Dialog's 1Q profit grows 14%, driven by midstream tank storage business and big opex drop

Malayan Flour Mills Bhd’s (KL:MFLOUR) net profit for 3QFY2024 plummeted 69.7% to RM7.34 million, from RM24.2 million last year mainly due to bigger losses at PT Bungasari Flour Mills Tbk and the performance of its poultry integration segment through Dindings Tyson Sdn Bhd, which turned a loss, compared with a profit last year. Revenue for the quarter, however, grew 3.1% to RM799.2 million, from RM774.9 million previously, supported by steady demand in its flour and grain trading segments. No dividend was declared for the quarter. — JV losses drag Malayan Flour Mills' 3Q profit down 69.7% despite higher revenue

Cape EMS Bhd (KL:CEB) booked its first quarterly loss since its listing in March 2023, with a net loss of RM18.95 million in 3QFY2024, compared with a net profit of RM15.21 million in the same quarter last year. The losses were attributed to a reduced gross profit margin. This was despite a 4.4% higher revenue of RM141.95 million, compared with RM135.98 million previously. The group did not declare dividends for the quarter. — Cape EMS posts first quarterly loss since listing amid margin pressure

Star Media Group Bhd’s (KL:STAR) net profit for 3QFY2024 surged to RM2.5 million, over 44 times the RM56,000 it made in 3QFY2023, carried by its radio and property development businesses’ higher contribution. Quarterly revenue climbed 8.57% to RM59.63 million from RM54.93 million a year ago. No dividend was declared for the quarter. — Star Media's 3Q profit up as radio, property biz offset print media losses

Teladan Group Bhd's (KL:TELADAN) net profit for 3QFY2024 grew 3.42% to RM7.87 million against RM7.61 million in the same quarter a year ago, as the Melaka-based property developer’s revenue expanded 17.7% to RM80.67 million — the highest since its listing in March 2021 — from RM68.56 million a year earlier. It declared a first interim dividend of half a sen per share, payable on Dec 30. — Teladan books record revenue in 3QFY2024; quarterly profit nearly flat

SAM Engineering & Equipment (M) Bhd’s (KL:SAM) net profit dropped 23.7% for the second quarter ended Sept 30, 2024 (2QFY2025) amid lower contribution from its equipment segment. The company’s revenue sank 13.63% to RM370.18 million from RM428.62 million a year before amid lower demand from semiconductor and data storage customers and unfavourable exchange translation. The group did not declare any dividends for the quarter. — SAM Engineering's 2Q net profit falls 24% on-year on lower revenue

APM Automotive Holdings Bhd’s (KL:APM) net profit for 3QFY2024 dropped 27.94% to RM18.67 million as compared to RM25.91 million on unrealised forex loss arising from trade receivables denominated in foreign currencies following the ringgit’s strengthening. This was despite revenue rising 4.9% to RM545.19 million from RM518.45 million last year. No dividend was declared for the quarter. — APM Automotive’s 3Q net profit down 28% on forex loss

Comfort Gloves Bhd’s (KL:COMFORT) net loss for 3QFY2024 widened to RM26.32 million during the quarter versus RM7.91 million in the same period last year on higher provisions for slow-moving inventory, write-downs and sizeable foreign exchange loss. This was despite revenue surging 45.6% to RM105.49 million from RM72.45 million previously. No dividend was declared for the quarter. — Comfort Gloves' 3Q net loss widens on higher provisions, forex loss

Hextar Global Bhd’s (KL:HEXTAR) net profit for 3QFY2024 rose 28% to RM19.70 million compared with RM15.39 million in the corresponding quarter last year on strong growth from its specialty-chemicals segment. Revenue for the quarter increased by 38.27% to RM252.96 million from RM182.93 million a year earlier. Hextar proposed a second interim single-tier dividend of 0.8 sen per share, payable on Dec 30. — Hextar Global expects better herbicide prices after 3Q profit rises 28%, declares 0.8 sen dividend

IFCA MSC Bhd’s (KL:IFCAMSC) net profit for 3QFY2024 jumped to RM5.5 million, nine times the RM610,000 a year earlier, as revenue climbed 42.3% to RM30.08 million from RM21.15 million on robust sales across its core business operations. It declared a first interim dividend of 1.5 sen per share, payable on Dec 20. It also unveiled a capital allocation framework that outlines the intended future use of its capital, under which the group plans to retain no more than RM70 million cash on its balance sheet, with excess cash to be returned to shareholders through dividends. As at end-2023, the group had cash reserves of RM78.8 million, with no borrowings. — IFCA MSC's 3Q profit surges on robust sales, announces plan to cap cash pile at RM70 mil

TCS Group Holdings Bhd (KL:TCS) has secured a contract worth RM611.3 million, almost seven times its market capitalisation of RM90.9 million, from Jabatan Kerja Raya Sabah to build a new highway and to upgrade roads under Phase 1B of the Pan Borneo Highway. The group is expected to start work on the project on Dec 20 and to complete it by June 19, 2028. — TCS Group bags RM611.3 mil job under Pan Borneo Highway

Binastra Corp Bhd (KL:BNASTRA) has secured a contract worth RM256.45 million for mechanical and electrical (M&E) fit-out works of a data centre in Bukit Jalil, Kuala Lumpur from Exsim Jalil Link Sdn Bhd, a unit of Exsim Group. The project will be executed in two phases, with the first phase slated for completion within nine months, while the second phase is to be concluded in 24 months from the commencement date, which is yet to be fixed. — Binastra bags RM256.45 mil M&E job for Exsim's data centre in Bukit Jalil

Handal Energy Bhd (KL:HANDAL) was slapped with a RM132.6 million counterclaim from a former joint venture (JV) partner, alleging the company breached their JV agreement by selling its 49% stake in marine sand mining JV Handal Borneo Resources Sdn Bhd without her consent or knowledge. Handal Energy said the financial impact to the company shall be limited to the amount awarded by the court. The filing did not disclose information pertaining to the initial suit. — Handal Energy hit with RM132.6 mil counterclaim from former JV partner