KUALA LUMPUR (Nov 29): Here is a brief recap of some corporate announcements that made the news on Thursday:

Tenaga Nasional Bhd’s (KL:TENAGA) net profit rose 85% to RM1.58 billion in the third quarter ended Sept 30, 2024 (3QFY2024) from RM856.2 million last year, thanks to hefty foreign exchange  gains. It booked a forex gain of RM1.12 billion compared to a net forex gain of barely RM4.6 million in 3QFY2023. Quarterly revenue grew 6.6% to RM14.35 billion against RM13.47 billion, driven by a rise in electricity sales. — TNB 3Q profit up 85% on RM1.12b forex gain

CIMB Group Holdings Bhd (KL:CIMB), Malaysia’s second-largest bank by assets, saw its net profit for 3QFY2024 rise nearly 10% to RM2.03 billion from RM1.85 billion a year earlier, thanks to healthy growth in both net interest income (NII) and non-interest income (NOII). Year-on-year, NII edged up 1.8%, while net fees and commission income grew 9.2%, and other NOII surged 28%. Revenue grew to RM5.74 billion, from RM5.3 billion. — CIMB Group’s 3Q net profit rises nearly 10%, on track to hit ROE target

Alliance Bank Malaysia Bhd’s (KL:ABMB) net profit increased marginally by 2.5% year-on-year to RM189.91 million in the second quarter ended Sept 30, 2024 (2QFY2025) from RM185.33 million, driven by revenue growth which was offset by higher allowances for expected credit losses and operating expenses. Quarterly revenue grew 14.7% to a record high of RM605.65 million from RM528.10 million, thanks to higher interest income from loans and other operating income. It declared a first interim dividend of 9.50 sen per share for the latest quarter, compared with 10.85 sen per share in 2QFY2024. The dividend will be paid on Dec 30. — Alliance Bank’s 2Q net profit up 2.5%, pays 9.50 sen dividend

Hong Leong Financial Group Bhd (KL:HLFG), the financial services flagship of tycoon Tan Sri Quek Leng Chan, saw its net profit rise 14% year-on-year to RM847.67 million for the three months ended Sept 30, 2024 (1QFY2025), from RM741.65 million a year earlier, driven by the banking and insurance businesses. Quarterly revenue rose to RM1.89 billion from RM1.58 billion a year ago. Hong Leong Bank Bhd’s (KL:HLBANK) net profit rose 5.8% to RM1.09 billion in 1QFY2025 from RM1.03 billion last year, thanks to a rise in both net interest income and non-interest income. Revenue grew to RM1.6 billion, from RM1.39 billion. — Hong Leong Financial Group's 1Q net profit rises 14% as banking, insurance arms report gains

Axiata Group Bhd (KL:AXIATA), the country’s largest telecommunications company by revenue, returned to the black with a net profit of RM976.67 million in 3QFY2024, against a net loss of RM797.41 million a year ago, as currency gains and other one-off items offset a decline in operating income. The company booked forex gains on financing totalling RM1.03 billion and another RM306.10 million from early redemption of debt. Revenue was RM5.32 billion, a 5.3% decline when compared to RM5.62 billion, which the company attributed to depreciation of the Indonesian rupiah and Bangladeshi taka against the ringgit. — Axiata returns to the black in 3Q as one-off gains offset lower operating income

IHH Healthcare Bhd’s (KL:IHH) net profit for 3QFY2024 was flat at  RM534 million, compared with RM532 million in 3QFY2023. Quarterly revenue dipped 3% to RM5.6 billion from RM5.8 billion last year.  This was because the company, which operates in Türkiye, needed to adjust its financial statements to account for the decreasing purchasing power of the Turkish lira due to the high inflation there by applying a specific accounting standard (MFRS 129). This resulted in IHH’s net profit in the corresponding quarter in 2023 being inflated by RM224 million, as there was a net increase in purchasing power from the net monetary position of the group’s operations in Türkiye. — IHH Healthcare reports 43% jump in core profit on higher patient volumes

Sime Darby Bhd's (KL:SIME) net profit jumped 36% to RM800 million in the first quarter ended Sept 30, 2024 (1QFY2025) from RM589 million a year ago, mainly on profit contributions from the UMW division and gain on disposal of Malaysia Vision Valley land. Quarterly revenue rose 31% to RM18.26 billion from RM13.98 billion. — Sime Darby's 1Q profit jumps 36% on UMW earnings, Malaysia Vision Valley land disposal

Gaming-to-plantation conglomerate Genting Bhd’s (KL:GENTING) net profit fell 57% year-on-year to RM223.8 million in 3QFY2024 from RM520.52 million as it was hit by higher property, plant and equipment write-off totalling RM207.3 million, as opposed to RM1.3 million last year. Quarterly revenue fell 11.2% to RM6.54 billion from RM7.37 billion due to declining contributions from its leisure and hospitality division. The latest quarterly revenue was its lowest since 1QFY2023, when it logged revenue of RM5.82 billion. — Genting's 3Q net profit more than halves on higher write-off

Genting’s 49.3% subsidiary, Genting Malaysia Bhd's (KL:GENM), however, reported a net profit of RM569.16 million, representing a near six-year high and an over threefold jump from RM177.41 million. This was due to it recognising net unrealised forex gains of RM601.8 million on its US-dollar denominated borrowings, as opposed to a forex loss of RM1.7 million previously.  Revenue was up a marginal 1.45% to RM2.75 billion from RM2.7 billion, on higher revenue from its leisure and hospitality businesses in the UK and Egypt. — Genting Malaysia's 3Q profit highest in nearly six years on forex gains

PPB Group Bhd's (KL:PPB) net profit fell 44.1% to RM208.12 million in 3QFY2024 from RM372.55 million a year earlier, largely due to lower contribution from its 18.8%-owned associate Wilmar International Ltd, as well as lower profit from its core business segments. Quarterly revenue dropped 7.5% to RM1.35 billion from RM1.46 billion, mainly due to the absence of contribution from its Indonesian flour operations which was divested in September 2023. — PPB 3Q profit falls 44% on lower Wilmar contribution

After four consecutive quarters of losses, Capital A Bhd (KL:CAPITALA) posted a record-high net profit of RM1.64 billion for 3QFY2024, as opposed to a net loss of RM102.75 million a year ago, as the group recognised RM2.27 billion in foreign exchange gains compared with a forex loss of RM93.92 million in last year’s corresponding quarter. The hefty forex gains were due to the weakening of the US dollar against local currencies of the markets where the group operates during the quarter. Its quarterly revenue grew by 16.6% to RM4.93 billion from RM4.23 billion. — Forex gains of RM2.27 bil lift Capital A earnings to record high in 3QFY2024

Berjaya Corp Bhd (KL:BJCORP) posted a net loss of RM167.85 million for the three months ended Sept 30, 2024 (1QFY2025) against a net profit of RM111.08 million a year ago, dragged by its retail and services businesses. Quarterly revenue dropped 13.3% to RM2.23 billion from RM2.57 billion. — Berjaya Corp suffers another quarterly loss, optimistic some segments will improve

Supermax Corp Bhd (KL:SUPERMX) extended its streak of losses to seven quarters with a net loss of RM64.6 million in the three months ended Sept 30, 2024 (1QFY2025), compared with RM2.05 million a year ago as a surge in operating expenses sank the glovemaker into the red, compounded by currency losses. Operating expenses were 77% higher, while the company also booked unrealised foreign exchange losses totalling RM45.6 million. Revenue, however, rose 26% to RM224.65 million from RM177.96 million as demand picked up. However, Supermax said the company is still fulfilling low-priced contracts until the end of 2024 and flagged challenges ranging from emerging competitors in Vietnam due to an acute labour shortage in Malaysia. — Supermax trudges through 1Q as losses pile up, expects better finances next year

Farm Fresh Bhd's (KL:FFB) net profit more than doubled to RM26.18 million in the second quarter ended Sept 30, 2024 (2QFY2025) from RM12.79 million  a year ago, on decreased dairy raw material costs. Revenue climbed 26% to RM249.16 million from RM198.3 million, attributable to quarterly contributions from Sin Wah, higher Horeca (hotels, restaurants and cafes) and commercial UHT sales, coupled with the positive impact of new product launches. It declared an interim dividend of one sen per share, payable on Dec 27. — Farm Fresh declares dividend of one sen as 2Q earnings double

Chin Teck Plantations Bhd (KL:CHINTEK) declared a special dividend of seven sen per share plus a first interim dividend of eight sen per share for the financial year ending Aug 31, 2025 (FY2025). Both dividends will be paid on Dec 27. The dividend announcement came prior to the conclusion of its first financial quarter ending Nov 30.  It declared a total of 40 sen in dividends for FY2024. The plantation group was in a net cash position of about RM429.9 million as at end-August, equivalent to RM4.70 per share based on an issued share capital of 91.4 million shares. — Chin Teck declares 15 sen dividend for FY2025, including a seven-sen special

Icon Offshore Bhd, (KL:ICON), which has proposed a name change to Lianson Fleet Group Bhd, posted a threefold jump in net profit to RM19.43 million in 3QFY2024 from RM6.21 million a year ago, on higher daily charter rates. This is despite utilisation dropping to 78% versus 86% due to unplanned maintenance. Revenue increased 20.66% to RM70.58 million from RM58.49 million. Its orderbook stood at RM300.9 million for its OSV segment as at end-Sept this year, with long-term contracts representing 92% of its orderbook. — Icon Offshore mulls rename to Lianson Fleet Group, 3Q profit triples on higher daily charter rates

Globetronics Technology Bhd (KL:GTRONIC) is partnering Canada-headquartered POET Technologies Inc on advanced manufacturing and testing of optical engines, designed for applications such as data centres and telecommunications. POET is a Nasdaq-listed design and development company offering integration solutions for electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods. Under the partnership, Globetronics will focus on the assembly, packaging and testing of optical engines. On the other hand, POET will provide proprietary designs, critical materials and technical specifications. — Globetronics partners with Canada's POET Technologies to manufacture optical engines for data centres