KUALA LUMPUR (Nov 22): Here is a brief recap of some corporate announcements that made the news on Friday.

Allianz Malaysia Bhd’s (KL:ALLIANZ) net profit for the third quarter ended Sept 30 (3QFY2024) dipped 7.4% to RM183.2 million from RM197.9 million in the same quarter last year, as certain expenses jumped while it recorded a drop in dividend income and lower fair value gains from investments. Quarterly revenue grew 10.3% to RM1.44 billion from RM1.31 billion. No dividend was declared for the quarter. —  Allianz Malaysia's 3Q profit dips 7.4% as expenses jump

Bumi Armada Bhd’s (KL:ARMADA) net profit for 3QFY2024 rose 19% to RM211.33 million from RM177.77 million in the same quarter last year, as operating margins expanded with lower costs. Quarterly revenue edged up 5.2% to RM551.86 million from RM524.8 million. No dividend was declared for the quarter. —  Bumi Armada's 3Q net profit rises 19%, no update on merger with MISC's offshore unit

Bintulu Port Holdings Bhd’s (KL:BIPORT) net profit for the 3QFY2024 dropped 13.68% to RM28.05 million from RM32.49 million in the same quarter last year, on a jump in operating costs due to an increase in expenditure incurred on service contracts, as well as for repair and maintenance. Revenue for the quarter rose 8.71% to RM202.77 million compared with RM186.53 million. A third interim dividend of three sen per share was declared for the quarter, payable on Dec 26. —  Bintulu Port’s 3Q net profit down 13%, pays three sen dividend

D&O Green Technologies Bhd’s (KL:D&O) net profit for 3QFY2024 was flat at RM18.25 million compared to the same period last year, despite thinner gross margin. Quarterly revenue was also flat at RM273.25 million, from RM271.95 million. The group declared a first interim dividend of 0.3 sen per share, payable on Dec 30. —  D&O posts flat 3Q net profit amid eroding gross margin, pays 0.3 sen dividend

Sarawak Plantation Bhd’s (KL:SWKPLT) net profit for 3QFY2024 rose 14.6% to RM31.07 million from RM27.12 million in the same quarter last year, thanks largely to a higher fair value gain on its biological assets. Quarterly revenue fell 13.7% to RM149.07 million from RM172.65 million due to lower sales of crude palm oil (CPO) and palm kernel (PK), despite higher average selling prices. A second interim dividend of 15 sen per share was declared, payable on Dec 27. —  Sarawak Plantation pays bumper 15 sen dividend as 3Q profit hits record

Favelle Favco Bhd (KL:FAVCO) sank into the red for 3QFY2024 — the crane manufacturer's first quarterly loss since listing back in 2006 — with a net loss of RM7.58 million versus a net profit of RM12.1 million in the same quarter last year on foreign exchange loss. Quarterly revenue, however, rose 26.56% to RM189.88 million from RM150.04 million. No dividend was declared for the quarter. —  Favelle Favco falls to first-ever quarterly loss on forex loss

CSC Steel Holdings Bhd’s (KL:CSCSTEL) net profit for 3QFY2024 fell 21% to RM6.87 million compared to RM8.35 million in the same quarter last year, on competitive pressure from “unfair trade practices” and overcapacity among other challenges. Revenue for the quarter was only 0.2% higher at RM404.89 million as compared to RM404.21 million. No dividend was declared for the quarter. —  CSC Steel reports 21% fall in 3Q net profit; optimistic prices, demand will rise

BM Greentech Bhd’s (KL:BMGREEN) net profit for the second quarter ended Sept 30, 2024 (2QFY2025) jumped 55% to a record high RM13 million from RM8.38 million in the same quarter last year, as revenue increased 15.8% to a record high RM137.1 million from RM118.4 million. No dividend was declared for the quarter. —  BM Greentech books record quarterly profit and revenue in 2Q

SkyWorld Development Bhd (KL:SKYWLD) has completed the due diligence for the proposed joint development of a property in Vietnam's Binh Duong province, its second venture into that country and is in the midst of negotiating a term sheet before finalising a shareholders’ agreement and sales and purchase agreement. It proposed in August the joint development of the remaining plots of the Guocoland Commercial Complex project in Thuan An City with SkyVenue Land Group Joint Stock Company, SkyBridge Company Ltd and the shareholders of SkyVenue —  SkyWorld nears deal for Vietnam joint venture on completion of due diligence, says on track for RM4.6b launch target by 2026 

Lagenda Properties Bhd’s (KL:LAGENDA) indirectly owned subsidiary Opti Vega Sdn Bhd has secured the right to develop a 139-acre land in Kota Tinggi, Johor, for RM99.62 million, cash after exercising an option in a development rights agreement signed with Intact Corporate Approach Sdn Bhd earlier this year. The final purchase price may still vary. Opti Vega plans to develop a mixed development comprising residential and commercial units on the new plot, with an estimated gross development value (GDV) of RM889 million. —  Lagenda Properties secures right to develop another Kota Tinggi plot for RM99.62 mil

Solarvest Holdings Bhd’s (KL:SLVEST) wholly owned subsidiary Atlantic Blue Sdn Bhd has been awarded a RM142 million engineering, procurement, construction and commissioning (EPCC) contract from SM01 Sdn Bhd, a special purpose vehicle (SPV) in which the group owns a 33% stake. The contract is for the construction of a solar photovoltaic energy generating facility in Gurun, Kedah, with a capacity of 29.99 megawatts of alternating current (MWac). Besides Solarvest, the other shareholders are Shizen Malaysia Sdn Bhd with a 49% stake and HSS Engineering Sdn Bhd with 18%. —  Solarvest bags RM142 mil EPCC job for 30MWac solar plant in Kedah

South Malaysia Industries Bhd’s (KL:SMI) largest shareholder Target 1 Sdn Bhd has called for an upcoming extraordinary general meeting scheduled for Jan 9, 2025, to appoint six new directors to the company’s board, including former Perak police chief Datuk Pahlawan Mior Faridalathrash Wahid. Target 1, which is controlled by Hong Seng Consolidated Bhd (KL:HONGSENG) and Revenue Group Bhd’s (KL:REVENUE) executive director Leong Seng Wui, owns a 30.67% stake in SMI. Besides Mior, the five other candidates were She Pei Sze, Lee Keng Fatt, Datuk Sok One Esen, Ho Pui Hold and Leong Weng Loong —  SMI's largest shareholder calls for EGM to appoint six new directors including ex-Perak police chief

Icon Offshore Bhd (KL:ICON) has signed definitive agreements for a slew of previously announced acquisitions for 40 maritime assets worth over RM400 million that will more than double its fleet. The deals are expected to close by the first quarter of 2025. —  Icon Offshore signs definitive agreements for previously announced acquisitions worth over RM400m

Top Glove Corp Bhd’s (KL:TOPGLOV) wholly owned unit Top Quality Glove Sdn Bhd (TQG) has entered into a joint venture (JV) with US glove importer Tronex (Asia) Ltd, and Polywel International Trade Co Ltd for the production and distribution of high-density polyethylene gloves. Under the agreement, TQG will hold a 60% stake in JV company TG Meditech Sdn Bhd, while Tronex and Polywel will each own 20%. Business operations are expected to commence by December 2024. —  Top Glove in JV for high density polyethylene glove biz

MNRB Holdings Bhd (KL:MNRB) has appointed Datuk Rudy @ Rodzila Che Lamin as interim president and group chief executive officer (CEO) of the company, effective Friday. Rudy is replacing Zaharudin Daud, who stepped down following the expiry of his contract. —  MNRB names Rudy Rodzila Che Lamin as interim president and CEO 

Chin Hin Group Property Bhd (KL:CHGP) has established a RM500 million perpetual notes programme. The proceeds raised from the perpetual notes shall be utilised for capital expenditures, refinancing of financing or borrowings, working capital, and other general corporate purposes. —  Chin Hin Group Property establishes RM500m perpetual notes programme