KUALA LUMPUR (Nov 28): Here is a brief recap of some corporate announcements that made the news on Wednesday:

AMMB Holdings Bhd (KL:AMBANK) sharply raised its dividend payout after reporting a 7% rise in second-quarter net profit from a year earlier on interest income growth. The bank declared a higher interim dividend of 10.3 sen per share, compared with six sen per share for the same period last year. A stronger capital position allowed the higher payout to shareholders, it noted. Net profit for the three months ended Sept 30, 2024 (2QFY2025) was RM500.57 million or 15.14 per share, versus RM469.78 million or 14.2 sen per share in 2QFY2024. Revenue improved to RM1.23 billion from RM1.12 billion. — AMMB lifts dividend payout sharply as 2Q net profit rises 7%

Inari Amertron Bhd (KL:INARI)’s net profit fell 71.6% to RM24.12 million for the first quarter ended Sept 30, 2024 (1QFY2025) — its lowest quarterly earnings in nearly nine years — from RM84.98 million in 1QFY2024, dragged by a foreign exchange (forex) loss of RM53.3 million, following a steep drop in the US dollar against the ringgit.  Revenue was a marginal 1.1% higher at RM388.01 million versus RM383.93 million a year ago, due to a higher loading volume in its radio frequency business. It declared a first interim dividend of one sen per share, down from the 2.2 sen it declared in the same quarter a year ago. — Inari's 1Q earnings drop to lowest in almost nine years as forex loss weighs

FGV Holdings Bhd (KL:FGV) nearly tripled its net profit to RM87.16 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM31.98 million a year ago, thanks to higher output and prices that may stay high in the remaining months of 2024. Revenue surged 26% to RM6.18 billion when compared to the same quarter last year. The company did not declare any dividend. — FGV’s 3Q net profit nearly triples on higher output, prices

Petronas Gas Bhd’s (KL:PETGAS) net profit rose 5.4% to RM493.67 million or 24.95 sen per share in 3QFY2024, from RM468.46 million or 23.67 sen per share a year before, boosted by currency gains, and as higher offtake and reservation charges lifted revenue. Revenue edged up nearly 7% year-on-year to RM1.66 billion from RM1.55 billion. It declared a dividend of 18 sen per share. — Petronas Gas’ 3Q net profit edges up 5.4%, declares 18 sen dividend

TIME dotCom Bhd’s (KL:TIMECOM) net profit declined 44.9% to RM58.71 million in 3QFY2024 from RM106.60 million a year earlier, mainly due to a forex loss. Quarterly revenue rose nearly 3% to RM423.35 million from RM411.07 million on strong demand from enterprise and retail customers. — TIME dotCom reports 45% drop in 3Q net profit on forex loss

IJM Corp Bhd’s (KL:IJM) net profit for the second quarter ended Sept 30, 2024 (2QFY2025) fell 20.8% to RM74.21 million from RM93.69 million a year earlier, due to higher unrealised forex losses. Quarterly revenue rose 4% to RM1.52 billion from RM1.46 billion. It declared a dividend of two sen for the quarter. — IJM Corp expects stronger FY2025, despite 21% drop in 2Q net profit

Chin Hin Group Bhd (KL:CHINHIN) more than doubled its net profit for 3QFY2024 to RM27.67 million from RM11.6 million a year ago, thanks to revenue from newly-acquired subsidiaries that significantly boosted its gross margin. Revenue jumped 81% to RM912.64 million — the highest since it was listed in March 2016 — on the back of higher revenue from its new subsidiaries, building materials division, as well as property development and construction. — Chin Hin more than doubles 3Q net profit with newly-acquired subsidiaries

Media Prima Bhd (KL:MEDIA) posted an 86.77% drop in its net profit to RM1.86 million  for the first quarter ended Sept 30, 2024 (1QFY2025), from RM14.06 million in 1QFY2024, as revenue fell and other operating income dropped. Revenue fell 8.87% to RM194.94 million from RM213.92 million, as advertising and non-advertising sales continued to be impacted by challenging market and industry conditions. — Media Prima reports 87% drop in quarterly profit as revenue falls

Hengyuan Refining Co Bhd (KL:HENGYUAN), which is involved in the refining and manufacturing of petroleum products, dropped into the red in its 3QFY2024, no thanks to a further weakening of its cracking or refining margin and high stockholding losses amid unfavourable crude oil price movements.  It incurred a net loss of RM165.1 million for 3QFY2024, as opposed to a net profit of RM2.13 million for 3QFY2023, despite revenue jumping 67.48% to RM4.12 billion from RM2.46 billion on higher sales volume following a major plant turnaround exercise last year. — Hengyuan drops into the red in 3Q despite revenue jump as cracking margin weakens

Kerjaya Prospek Group Bhd (KL:KERJAYA) declared a seven sen dividend payout — comprising a special four sen dividend and a three sen interim dividend — after the builder reported a 30% growth in net profit from higher progress billings. The dividends will be paid to shareholders on Dec 20. This brings its total dividend for 9MFY2024 to 12 sen per share, up from 9MFY2023's eight sen. Net profit for 3QFY2024 rose to RM46.09 million from RM35.57 million in 3QFY2023, as revenue climbed 39.37% to RM504.84 million from RM362.23 million. — Kerjaya Prospek declares special dividend following 30% higher 3Q profit

Boustead Heavy Industries Corp (KL:BHIC) is selling its 51% stake in Contraves Advanced Devices Sdn Bhd (CAD) to its joint venture partner, German arms maker Rheinmetall AG, for RM54 million, cash. The disposal will result in a loss of RM14.82 million to BHIC. CAD is a former subcontractor for the littoral combat ship (LCS) project, which has been fraught with delays and cost overruns over the last decade. With the RM14.82 million fair value loss recognised from the CAD disposal, BHIC posted a net loss of RM11.95 million for its third quarter ended Sept 30, 2024 (3QFY2024), bigger than the RM5.72 million in the same quarter last year. Quarterly revenue surged 86.19% to RM71.7 million from RM38.51 million, mainly thanks to positive contributions from submarine contracts with the Royal Malaysian Navy. — BHIC to hive off 51% stake in former LCS subcontractor to Rheinmetall, recognising RM15 mil loss on disposal

Tropicana Corp Bhd (KL:TROP) announced a net loss of RM454.93 million for the three months ended Sept 30, 2024 (3QFY2024) as a result of the recognition of one-off losses of RM474.8 million. Its quarterly net loss was RM10.34 million in the previous year’s corresponding quarter. Quarterly revenue shrunk 49% to RM201.87 million from RM402.76 million, largely due to lower progress billings from key projects. The decline in revenue was also attributed to lower sales consideration related to the disposal of development land. — Provision for asset sales weighs on Tropicana Corp's 3Q