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

Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, posted a 12% increase in net profit to RM1.91 billion for the third quarter ended Sept 30, 2024 (3QFY2024) from RM1.7 billion a year ago, thanks to operating income growth. Year-on-year, net interest income rose 5% and income from Islamic banking was up 6.5%, while non-interest income such as fees and commissions climbed 18%.  Revenue rose to RM6.81 billion from RM6.48 billion a year earlier. — Public Bank’s 3Q net profit rises 12% as both interest, non-interest income grow 

RHB Bank Bhd (KL:RHBBANK)’s net profit grew 28% to RM833.19 million for the 3QFY2024, from RM649.95 million a year earlier, as the banking group booked sharp currency gains of RM659.86 million. Excluding the net forex gains, the banking group's other operating income would have been RM394.14 million. It was RM435.88 million a year ago including a net forex gain of RM85.22 million. Quarterly revenue increased by 7% to RM4.51 billion, from RM4.22 billion in the corresponding quarter. — RHB Bank's 3Q earnings grow 28% 

Padini Holdings Bhd (KL:PADINI) said the retail business remains tough amid rising cost of living, after the apparel company reported a 57% sharp drop in profits. Net profit for the first quarter ended Sept 30, 2024 (1QFY2025) fell to RM11.52 million from RM26.67 million a year earlier, on currency loss, higher staff costs and depreciation, which offset its 1% growth in revenue to RM393.14 million, from RM388.2 million. Nevertheless, it kept up dividend payouts, with a second interim distribution of 2.5 sen per share — higher than the earnings of 1.75 per share — to be paid on Dec 27. — Padini flags tough retail scene after 57% drop in 1Q profit, keeps up dividend payout 

QL Resources Bhd's (KL:QL) net profit rose 4.6% to RM128.28 million in the second quarter ended Sept 30, 2025 (2QFY2025) from RM122.64 million a year earlier, on the back of improved revenue contributions from all its business segments, which helped offset increases in tax expenses and finance costs. Quarterly revenue climbed 10.8% to RM1.87 billion from RM1.69 billion. — QL Resources' 2Q profit climbs 5% as higher sales offset increases in tax, finance costs  

LBS Bina Group Bhd (KL:LBS) said that it is unlikely for the group to meet its internal sales target of RM1.8 billion this year, due to deferred launches caused by a lengthy approval process. As of Nov 28, it had registered total property sales of RM1.21 billion, with RM183.5 million in bookings. It declared a special dividend of 2.6 sen per share, as its net profit surged four-fold for the third quarter, carried by an RM137 million one-off gain from the disposal of Lamdeal Investments Ltd. Net profit for the quarter 3QFY2024 ballooned 315.43% to RM167.06 million — its highest since 3QFY2013 — from RM40.21 million. Excluding the one-off disposal gain, its adjusted pre-tax profit for 3QFY2024 comes to RM77.3 million.  Quarterly revenue declined 19.16% to RM377.39 million from RM466.86 million on certain property and construction projects’ completion or near completion. — LBS Bina unlikely to hit RM1.8 bil full year sales target, declares 2.6 sen special dividend  

IGB Bhd (KL:IGBB) has declared a dividend payout of 12 sen per share for FY2024 — comprising an interim dividend of seven sen and a special dividend of five sen — as its net profit jumped 27% to RM73.7 million in 3QFY2024, from RM58 million, driven by higher contributions from its retail, commercial and hotel segments. Revenue grew 6% to RM419.3 million from RM395.1 million, largely driven by its hotel business amid higher occupancy and room rates.  The 12 sen dividend IGB declared — much higher than the seven sen it announced in the Jan-Sept period last year — will be paid Dec 20. — IGB pays 12 sen dividend for FY2024, including a five-sen special, as 3Q profit jumps 27%

Low-cost, medium-haul airline AirAsia X Bhd (KL:AAX)’s net profit jumped 22 times to RM121.64 million in 3QFY2024, from RM5.56 million, as currency gains and higher revenue offset a jump in operating expenses. It booked RM125.29 million from both realised and unrealised net foreign exchange gains. Revenue meanwhile rose 23% to RM795.03 million, from RM648.36 million on higher ticket sales and ancillary revenue. It expects to sustain its momentum in 4QFY2024, as the final quarter is expected to be the busiest for international travel industry. — AirAsia X reports 22-fold jump in net profit on currency gains  

Panasonic Manufacturing Malaysia Bhd (KL:PANAMY) reported its lowest quarterly net profit in three years of RM2.47 million in the second quarter ended Sept 30, 2024 (2QFY2025), hit by a foreign exchange (forex) loss of RM16.4 million and increased raw material costs. It posted a net profit of RM33.22 million in 2QFY2024. Quarterly revenue was flat at RM236.07 million, compared with RM236.42 million. It declared an interim dividend of 15 sen per share, unchanged from last year, payable on Jan 20. — Panasonic's 2Q net profit drops to three-year low on forex loss, higher material costs  

Velesto Energy Bhd (KL:VELESTO)  made a net profit of RM42.93 million for 3QFY2024, over a 30-fold jump from RM1.22 million in 3QFY2023. Revenue grew 21.83% to RM352.36 million from RM289.24 million, thanks to higher utilisation and average daily charter rates for jack-up rigs under its drilling services and an extension of its integrated rig, drilling, and completion (i-RDC) project in the quarter. — Velesto's share price skids despite 3Q profit jump as it flags slowing demand for jack-up rigs

Sapura Energy Bhd (KL:SAPNRG) saw the impending departure of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib. Azlan will step down from his position on Jan 31, 2025, due to "other personal commitments". He has been on a "leave of absence" from Sapura Energy since June 26 this year amid ongoing investigations by the Malaysian Anti-Corruption Commission (MACC). Azlan is currently the group CEO of highway concessionaire Projek Lintasan Kota Holdings Sdn Bhd, also known as Prolintas. It was reported that MACC had arrested the CEO of a highway concessionaire in the Klang Valley, along with seven others, as part of an investigation into alleged bribery related to two highway projects worth RM1.67 billion. Meanwhile, Anuar will step down from his role as CEO and executive director on Dec 31, 2024, after serving three years in the position since March 2021, to pursue "personal endeavours". — Sapura Energy announces departure of chairman and CEO 

Bursa Malaysia has approved Practice Note 17 (PN17) company Pharmaniaga Bhd’s (KL:PHARMA) regularisation plan, which was revised to adjust its capital reduction and exclude warrants from its rights issue, exactly a year after the initial iteration was announced. The regularisation plan, which comprises a RM520 million capital reduction, a rights issue to raise up to RM353.52 million and a RM300 million proposed private placement, was approved by the bourse operator on Friday. The plan is still pending shareholder approval at a general meeting to be announced later. — A year on, Pharmaniaga finally gets Bursa nod on regularisation plan  

Hextar Industries Bhd (KL:HEXIND) has signed an agreement to bring in Chinese coffee house chain Luckin Coffee to Malaysian shores. It will have the exclusive rights to develop, open, and operate coffee shops under the Luckin Coffee brand nationwide in Malaysia. The rights would be for 10 years, with possible renewal for two successive five-year terms. Founded in 2017 and headquartered in Xiamen, Luckin Coffee operated 21,343 stores globally as of the third quarter of 2024. — Hextar Industries gets exclusive rights to bring in Luckin Coffee chain