KUALA LUMPUR (Nov 20): Here is a brief recap of some corporate announcements that made news on Monday: Cape EMS Bhd,MyEG Services Bhd, Muhibbah Engineering (M) Bhd,Green Packet Bhd, CPE Technology Bhd,Mesiniaga Bhd, Eurospan Holdings Bhd,Petronas Gas Bhd,Mr DIY Group (M) Bhd, XL Holdings Bhd.

Cape EMS Bhd saw its third quarter net profit rise 47.01% to RM15.21 million, from RM10.38 million a year earlier, underpinned by a favourable foreign exchange movement between the US dollar and ringgit. The electronics manufacturing services (EMS) provider said revenue rose 4.57% to RM135.98 million from RM130.03 million in 3QFY2022, mainly attributed to an increase of sales from its EMS segment. The group declared a second interim dividend of 0.55 sen per share, to be paid on Feb 2, 2024.

MyEG Services Bhd’s third quarter net profit fell 20.38% to RM120 million, from RM150.71 million a year earlier when there was a one-off recognition of fair value gain of RM61.89 million as a result of the listing of its associate Agmo Holdings Bhd on the ACE Market. Quarterly revenue rose 19.37% to RM194.12 million from RM162.62 million in 3QFY2022, driven by contributions from its newly launched services on the Zetrix blockchain platform and from the sales of Zetrix tokens. Moving forward, MyEG said it will continue to introduce innovative services by leveraging new technologies, specifically blockchain or Web 3.0 in Malaysia and globally to drive its organic growth for FY2023.

Oil and gas services provider Muhibbah Engineering (M) Bhd has bagged two contracts amounting to RM479 million, for the provision of construction works in Perak and Terengganu. The contract in Perak is for the expansion of the Lumut Maritime Terminal in Lumut, Manjung, worth RM161 million, specifically to build onshore infrastructure and offshore facilities, including a main open-type wharf under Phase 2 of the expansion project. The contract was awarded by Lumut Maritime Terminal Sdn Bhd. The group is to start work on it immediately and complete it in 20 months. The second contract was awarded to Muhibbah as "the consortium lead partner" from Petronas Carigali Sdn Bhd, in relation to the Gansar project located about 190km from Terengganu's shore for a total value of RM318 million.

Green Packet Bhd said it is not proceeding with its proposed disposal of its entire 100% stake in Oasis Capital Investment Bank Ltd (OCIB) after the investment bank failed to obtain the required approval from the Labuan Financial Services Authority (LFSA). The group said it has received a notice from the purchaser, WKJ Capital Equity Sdn Bhd, to terminate the sale agreement as OCIB was unable to obtain LFSA's approval for the change of shareholder within the stipulated time frame. The plan to dispose of its investment banking business in Labuan to WKJ Capital Equity for RM23 million cash was announced by Green Packet in March.

Engineering precision parts manufacturer CPE Technology Bhd has priced its shares at RM1.07 apiece for its initial public offering (IPO), which seeks to raise approximately RM179.58 million. The IPO involves the issuance of 167.83 million new ordinary shares in the company or 25% of the enlarged share capital. The IPO will also see the offer for sale of 67.13 million shares or a 10% stake to institutional and selected investors by way of private placement.

Information technology products and services provider Mesiniaga Bhd has secured a RM38 million contract with the Royal Malaysian Customs Department. Mesiniaga officially signed the letter of award for the provision of MYGST system maintenance services on Monday.

Eurospan Holdings Bhd’s proposed RM54.55 million sale of its furniture manufacturing unit and properties in Seberang Perai to its controlling shareholder for future leaseback has been deemed “fair and reasonable” by independent adviser Mainstreet Advisers Sdn Bhd. Eurospan is disposing of Dynaspan Furniture Sdn Bhd (DFSB) for RM38.9 million cash to its executive chairman and largest shareholder Guan Kok Beng, managing director Guan Shaw Yin and deputy MD Guan Shaw Kee.

Petronas Gas Bhd’s net profit rose 10.01% year-on-year (y-o-y) in the third quarter ended Sept 30, 2023 (3QFY2023) on lower financing costs, taxes and expenses, but fell 3.48% quarter-on-quarter (q-o-q) on the back of weaker sales, amid planned plant turnaround in Kertih and lower product prices in the utilities segment. The better performance was despite a 9.69% drop in gross profit, on the back of a 0.93% drop in revenue to RM1.55 billion, from RM1.56 billion. On a q-o-q basis, PetGas’ net profit fell to RM468.46 million from RM485.37 million, amid a 5.3% drop in revenue from RM1.64 billion.

Mr DIY Group (M) Bhd has posted a 22.5% increase in its net profit for the third financial quarter ended Sept 30, 2023 (3QFY2023) to RM123.95 million, from RM101.18 million in the corresponding quarter of 3QFY2022, on the back of a higher revenue and gross profit margin. Quarterly revenue rose 10.4% to RM1.07 billion from RM966.17 million in 3QFY2022, driven primarily by contributions from new stores. During the period, the group's store network grew by 170 from 1,038 to 1,208 stores. Together with the release of the quarterly results, Mr DIY declared an interim single tier dividend of 0.8 sen per share or RM75.5 million in total, for its FY2023 ending Dec 31, 2023, to be paid on Dec 22. This raised its year-to-date payout to 2.2 sen per share.

XL Holdings Bhd is buying 25% equity interest in Sabah-based Samajutera Sdn Bhd to venture into seaweed cultivation activities through Samajutera’s 70%-owned subsidiary, WAF Holding Sdn Bhd. WAF Holding is a 70:30 joint venture between Samajutera and Inno Resource Development Sdn Bhd (IRD) — a subsidiary of Innoprise Corp Sdn Bhd, which is an investment arm of Yayasan Sabah. XL said the proposed investment forms part of the group’s long-term business strategy as it is currently involved in the businesses of foods distribution, fish farming, merchandise, edible bird nest operations and growing crops.