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

Petronas Chemicals Group Bhd (KL:PCHEM) has swung back to the black in the fourth quarter ended Dec 31, 2024 (4QFY2024) with a net profit of RM519 million, thanks to foreign exchange (forex) gain, reversing its first-ever quarterly loss in the immediate preceding quarter. On a year-on-year basis, net profit surged from RM112 million, as revenue increased 3.4% to RM7.46 billion versus RM7.21 billion previously. On full-year FY2024 performance, its net profit for FY2024 fell 30.7% to RM1.18 billion from RM1.7 billion in FY2023, while revenue rose 7% to RM30.67 billion versus RM28.67 billion previously. It declared a second interim dividend of three sen per share, payable on March 20. This brought the total dividend payout for the financial year ended Dec 31, 2024 (FY2024) to 13 sen per share, equal to what was declared for FY2023. — Petronas Chemicals posts 4Q profit on forex gain, declares three sen dividend

Petronas Gas Bhd's (KL:PETGAS) net profit slipped 5.6% in the final quarter of 2024 (4QFY2024) to RM417.03 million, from RM441.59 million a year ago, as expenses rose from maintenance of its pipeline and regasification terminals while gas cost rose. Quarterly revenue for the quarter, however, was up 3% year-on-year to RM1.62 billion, thanks to higher tariffs. For FY2024, its net profit was up to RM1.84 billion from RM1.82 billion in FY2023, as revenue rose to RM6.54 billion from RM6.45 billion primarily attributed to higher revenue from the gas processing segment.  A fourth interim dividend of 22 sen per share was declared, bringing total distribution for the year to 72 sen per share. — Petronas Gas' 4Q net profit slips 5.6% as expenses, gas cost rise  

MISC Bhd (KL:MISC) sank into the red for the first time in more than two years, with a net loss of RM446.2 million in 4QFY2024, hurt by RM735.5 million in impairment provisions and lower revenue. It posted a net profit of RM627.3 million in 4QFY2023. Quarterly revenue fell 23% to RM3.31 billion, from RM4.28 billion. Still, it paid a dividend of 12 sen per share, payable on March 20, bringing its total distribution for FY2024 to 36 sen per share. For FY2024, its net profit declined 44% to RM1.19 billion, weighed by its offshore business, following lower project progress, as well as higher cost provisions. The gas assets business recorded lower earning days and charter rates, while operating costs climbed. Revenue for FY2024 slipped 7.3% to RM13.24 billion, from RM14.27 billion. — MISC sinks into red for the first time in more than two years as provisions hurt  

Malakoff Corp Bhd (KL:MALAKOF) returned to the black with a net profit of RM26.03 million in the 4QFY2024 versus a net loss of RM357.12 million a year earlier, on the absence of any share of loss from the group’s investment in an independent water and power producer in Bahrain. It also booked an impairment loss of investment in associates of RM12.48 million in 4QFY2024 versus a reversal of RM66.34 million a year earlier. Quarterly revenue slipped 4.4% to RM2.16 billion from RM2.26 billion on lower energy payment for Tanjung Bin Power Sdn Bhd on lower applicable coal price and despatch factor. This was partially moderated by higher energy payments for Tanjung Bin Energy Sdn Bhd and Segari Energy Ventures Sdn Bhd in line with a higher despatch factor. For FY2024, it swung to net profit of RM268.69 million versus a net loss of RM837.16 million in FY2023, despite registering lower revenue of RM8.97 billion from RM9.07 billion in the preceding financial year. — Malakoff returns to black in 4Q on absence of Bahrain associate’s share of loss  

Sports Toto Bhd’s (KL:SPTOTO) net profit for the second quarter ended Dec 31, 2024 (2QFY2025) rose more than double to RM49.67 million, from RM24.22 million a year ago, driven by the performance of STM Lottery Sdn Bhd and HR Owen plc. Quarterly revenue for the quarter increased by 8% to RM1.48 billion, from RM1.37 billion a year ago. For 1HFY2025, Sports Toto posted a 7.85% rise in net profit to RM91.01 million despite registering slightly lower revenue of RM2.92 billion compared with RM2.96 billion. It declared a second interim dividend of two sen per share, payable on April 19, 2025. — Sports Toto 2Q net profit more than doubles

Parkson Holdings Bhd's (KL:PARKSON) net loss widened to RM127.73 million in 4QFY2024,  from RM61.42 million a year ago, dragged by a heftier impairment loss on asset worth of RM190.24 million, mainly related to underperforming stores in China. The closure of one of its stores in China, coupled with weaker consumer sentiment led to 9.1% lower revenue for Parkson during the quarter, at RM693.83 million, from RM763.39 million in the corresponding quarter. For FY2024, its net loss enlarged to RM102.46 million, from RM19.19 million in FY2023, while revenue fell 10.2% to RM2.81 billion versus RM3.12 billion previously. — Parkson's 4Q net loss doubles on larger impairment loss Parkson's 4Q net loss doubles on larger impairment loss  

Paramount Corp Bhd (KL:PARAMON), which has set a property sales target of RM1.5 billion for 2025, posted a 91.9% jump in 4QFY2024 net profit to RM54.12 million – highest since 1QFY2020 – from RM28.2 million for 4QFY2023. The surge in earnings was primarily driven by a net contribution of RM58.6 million from Paramount's investment in Eco World International Bhd (EWI) (KL:EWINT). Paramount, through its unit Flexis Sdn Bhd, holds a 21.54% stake in EWI. Its revenue grew 16.72% to RM361.09 million from RM309.36 million in 4QFY2023. Net profits for FY2024 increased 23.67% to RM102.45 million from RM82.84 million in FY2023, while revenue rose 2.76% to RM1.04 billion. The group declared a third interim dividend of 1.5 sen per share, payable on March 21, bringing its total dividend for FY2024 to 7.5 sen per share, higher than the seven sen paid in FY2023. — Paramount's 4Q net profit surges 92%, boosted by investment in Eco World International 

Mi Technovation Bhd's (KL:MI) net profit jumped 76.81% to RM20.9 million in 4QFY2024 from RM11.82 million a year earlier, driven by higher revenue and forex gains. Quarterly revenue grew 15.33% to RM111.43 million from RM96.62 million in 4QFY2023. For FY2024, its net profit rose 23.52% to RM68.07 million from RM55.1 million in FY2023, while revenue climbed 30.2% to RM463.46 million from RM355.96 million. It did not declare any dividend for the quarter. — Mi Technovation 4Q net profit jumps 77% on higher revenue, forex gain  

CSC Steel Holdings Bhd's (KL:CSCSTEL) net profit  rose 8.2% to RM11.35 million in the 4QFY2024, from RM10.49 million a year earlier, driven by favourable exchange rate movements that helped lower its cost of sales. Quarterly revenue, however, fell 8.37% to RM345.02 million from RM376.56 million in 4QFY2023, as intensified competition from lower-priced imports — following the expiration of anti-dumping duties — put downward pressure on steel prices. For FY2024, its net profit declined 30.96% to RM34.16 million from RM49.48 million in FY2023, while revenue slipped 2.93% to RM1.51 billion from RM1.56 billion due to lower steel prices. No dividend was declared for the quarter. — CSC Steel’s 4Q net profit up 8%, but revenue falls amid competition from lower-priced steel imports 

Industrial storage tank maker CN Asia Corp Bhd (KL:CNASIA) has proposed a share capital reduction to pare its accumulated losses.The capital reduction exercise will involve reducing RM35 million of its RM75.98 million share capital. The exercise is expected to slash the group’s accumulated losses of RM43.41 million as at September 2024 to RM8.66 million. — CN Asia plans capital reduction to pare accumulated losses