KUALA LUMPUR (Nov 21): Here is a brief recap of some corporate announcements that made the news on Wednesday.

Petronas Chemicals Group Bhd (KL:PCHEM) sank into the red for the first time ever since its listing more than a decade ago in the third quarter ended Sept 30, 2024 (3QFY2024). Net loss for 3QFY2024 was RM789 million versus a net profit of RM424 million in the same quarter a year earlier, dragged by unrealised foreign exchange loss totalling RM1.1 billion. Quarterly revenue was up 18% to RM7.99 billion from RM6.78 billion on higher sales volume and product prices. No dividend was declared for the quarter. — Petronas Chemicals reports first-ever quarterly loss since listing

Sime Darby Property Bhd’s (KL:SIMEPROP) net profit for 3QFY2024 fell 12% to RM128.26 million from RM144.92 million on higher administration expenses. Meanwhile, revenue was up 4% to RM1.09 billion from RM1.05 billion previously on strong sales. No dividend was declared for the quarter. — Sime Darby Property hits 91% of 2024 annual sales target in nine months

SD Guthrie Bhd (KL:SDG), formerly known as Sime Darby Plantation Bhd, saw its net profit for 3QFY2024 fell 36.75% to RM766 million from RM1.21 billion due to the absence of a gain on land disposal, despite higher crude palm oil (CPO) prices. Quarterly revenue rose 10.33% to RM5.27 billion compared with RM4.77 billion on the higher CPO prices. No dividend was declared for the quarter. — SD Guthrie's 3Q net profit down 37% on absence of disposal gain

Perdana Petroleum Bhd’s (KL:PERDANA) net profit jumped threefold for 3QFY2024 to RM75.8 million from RM22.75 million a year earlier thanks to better charter rates, vessel utilisation and forex gain. Quarterly revenue rose 22.45% to RM127.25 million from RM103.92 million on higher vessel utilisation. No dividend was declared for the quarter. — Perdana Petroleum reports threefold jump in 3Q profit on higher charter rates, increased vessel use

Sports Toto Bhd’s (KL:SPTOTO) net profit for the first quarter ended Sept 30, 2024 (1QFY2025) fell 31.3% to RM41.33 million from RM60.17 million a year ago, dragged by lower lottery sales as well as lower sales performance and forex loss impact. Quarterly revenue fell 9.5% to RM1.44 billion from RM1.59 billion. The group declared a first interim dividend of two sen per share, payable on Jan 17, 2025. — Sports Toto’s 1Q net profit falls 31%, declares two sen dividend

Hap Seng Plantations Holdings Bhd’s (KL:HSPLANT) net profit for 3QFY2024 rose 46% to RM55.43 million — its highest in nearly three years — from RM37.85 million a year ago, boosted by strong palm oil prices and lower operating expenses. Quarterly revenue climbed 7.7% to RM177.26 million from RM164.56 million. No dividend was declared for the quarter. —  Hap Seng Plantations logs highest quarterly profits in nearly three years on strong prices, lower expenses

RCE Capital Bhd’s (KL:RCECAP) net profit for the second quarter ended Sept 30, 2024 (2QFY2024) dropped 27.25% to RM27.83 million from RM38.25 million a year ago, as its revenue slipped 8.4% to RM80.41 million as the group prioritised better credit quality disbursement for sustainable financing growth. The group declared a first interim dividend of three sen per share, payable on Dec 31. — RCE Capital's net profit falls 27% on lower revenue as it prioritises better credit quality

MyEG Services Bhd’s (KL:MYEG) net profit for 3QFY2024 increased 62.55% to RM195.05 million from RM120 million in the same quarter last year, as revenue for the quarter grew 27.8% to RM248.13 million from RM194.12 million driven by the fair value gain in its investment in HeiTech Padu Bhd (KL:HTPADU) as a result of mark-to-market practice. No dividend was declared for the quarter. — MyEG posts highest-ever quarterly net profit of RM195m in 3Q

Pos Malaysia Bhd (KL:POS) recorded 49.6% higher net loss for 3QFY2024 to RM49.89 million from RM33.34 million in the same quarter a year earlier on lower postal and freight volume, and higher other and tax expenses. Revenue for 3QFY2024 was largely flat at RM458.96 million compared with RM461.71 million in 3QFY2023 on the postal and logistics segments' lower volume handled offset by the aviation segment’s higher number of in-flight meals served. No dividend was declared for the quarter. — Pos Malaysia's 3QFY2024 net loss widens on lower postal and freight volume

UOA Development Bhd’s (KL:UOADEV) net profit for 3QFY2024 dropped 5.2% to RM48.34 million compared with RM50.86 million a year ago, despite revenue rising 32% to RM141.36 million from RM107.04 million on higher progressive recognition of ongoing development projects. No dividend was declared for the quarter. — UOA Development’s net profit slips 5.2% in 3QFY2024 despite 32% revenue growth

Amway (Malaysia) Holdings Bhd’s (KL:AMWAY) net profit for 3QFY2024 dropped to RM32.9 million from RM46.2 million a year earlier, as revenue fell 10.1% to RM299.84 million from RM333.5 million amid softer consumer demand for health and wellness products and home appliances. The group declared a third interim dividend of five sen per share, payable on Dec 18. — Amway flags lower full-year revenue as 3Q profit drops 29% on weaker sales while costs climb

Formosa Prosonic Industries Bhd (KL:FPI) incurred a net loss of RM18.1 million for the third quarter ended Sept 30, 2024 (3QFY2024) — its first losses since 2015 — versus a net profit of RM48.87 million in 3QFY2023 on forex loss and lower revenue of RM200.65 million compared with RM234.46 million in the corresponding quarter. No dividend was recommended for the quarter. — Formosa Prosonic warns of more tough times as it logs first quarterly loss since 2015 on lower sales, forex loss

Hextar Industries Bhd’s (KL:HEXIND) net profit for 3QFY2024 dropped 12.59% to RM11.47 million from RM13.12 million in the same quarter a year earlier, on impairment loss and higher administrative expenses. This was despite quarterly revenue rising 13.98% to RM285.71 million versus RM250.68 million previously, thanks to the consolidation of newly acquired subsidiaries. No dividend was declared for the quarter. — Hextar Industries 3Q net profit drops 12.6% on impairment loss, higher admin expenses

Thong Guan Industries Bhd’s (KL:TGUAN) net profit for 3QFY2024 shrank nearly one-third to RM15 million from RM21.9 million a year ago, dragged by lower contribution from its plastic packaging products' segment. Quarterly revenue rose 3.77% at RM329.34 million from RM317.38 million last year. No dividend was declared for the quarter. — Thong Guan 3Q profit drops 32% on lower contribution from plastic packaging products

Kawan Food Bhd’s (KL:KAWAN) net profit for 3QFY2024 fell 87.5% to RM960,000 from RM7.69 million in the same quarter last year, dragged by unrealised forex losses and a higher tax charge. Revenue, however, rose 12.2% to RM88.9 million from RM79.2 million in 3QFY2023, mainly contributed by its export markets. It declared a second interim dividend of 2.8 sen per share, payable on Dec 20. — Kawan Food’s 3Q profit drops over 80%, dragged by forex losses and higher tax expense

RHB Bank Bhd (KL:RHBBANK) said the Kuala Lumpur High Court has sided with Tokio Marine Life Insurance Malaysia Bhd in the dispute over their bancassurance business, ruling the insurer’s right to first refusal is still in effect. Accompanying this declaration, the court ordered RHB to set out the bancassurance terms offered by the best bid within seven days to Tokio Marine. The court also ordered Tokio Marine to confirm within a fortnight after receiving RHB’s affidavit whether they are matching those terms. — Court orders Tokio Marine to respond to RHB's best offer within 14 days

IFCA MSC Bhd (KL:IFCAMSC) is targeting RM440 million in new sales over the next three years mainly through new customers arising from its property management system solutions, optimising pricing and growing its distributors programme. About RM170 million of the sales is expected to come from new large property owners via its new property management system solutions — “PropertyX”. — IFCA MSC targets RM440m in new sales for next three years

Sapura Energy Bhd (KL:SAPNRG) has secured a contract to provide pan-Malaysia services, involving offshore maintenance, construction, and modification as well as hook-up and commissioning services, from Petronas Carigali Sdn Bhd. The contract's tenure is five years, but its value is not specified as it is a call-out contract with agreed unit rates. —  Sapura Energy gets pan-Malaysia services contract

Reservoir Link Energy Bhd’s (KL:RL) unit has been appointed as a panel contractor for integrated well continuity services by national oil-and-gas company Petroliam Nasional Bhd (Petronas). The potential value of the services was not disclosed. — Reservoir Link to provide well continuity services to Petronas

Velesto Energy Bhd (KL:VELESTO) is collaborating with Petronas, through the Malaysia Petroleum Management and the National Oilwell Varco LP, to explore the implementation of robotics and mechanised automation process for its drilling rig operations. — Velesto collaborates with Petronas to implement automation, robotics on its drilling rigs

Zelan Bhd’s (KL:ZELAN) chief executive officer Mohd Ariff Abd Samat has resigned from the post three months after his appointment “to pursue other career opportunities”. The 42-year-old was appointed CEO in August, filling the post that had then been vacant for over a year after the company terminated his predecessor Hazimi Baharum’s contract in June last year. — PN17 Zelan's CEO Mohd Ariff resigns after three months in job

Sarawak Cable Bhd’s (KL:SCABLE) trading is to resume on Thursday as Bursa Malaysia has filed an application to the High Court seeking clarifications on the legal implications of the court's appointment of an interim judicial manager. — Bursa lifts suspension of Sarawak Cable shares as it seeks clarification from court regarding interim judicial manager's appointment