KUALA LUMPUR (Feb 7): Here is a brief recap of some corporate announcements that made the news on Wednesday: KLCCP Stapled Group, Carlsberg Brewery Malaysia Bhd, MNRB Holdings Bhd, Rexit Bhd, One Glove Group Bhd, Ranhill Utilities Bhd, YTL Hospitality REIT, PLB Engineering Bhd, ITMAX System Bhd, Econpile Holdings Bhd, Steel Hawk Bhd, and LFE Corp Bhd.

KLCCP Stapled Group’s net profit rose 37.6% to RM384.59 million for the fourth quarter ended Dec 31, 2023, from RM279.47 million a year ago, primarily contributed by improvement in the hotel and retail segments, while the office segment remained stable. The group — comprising KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust — saw quarterly revenue grow 7.1% to RM442.63 million from RM413.26 million previously. It declared a dividend of 14.4 sen per stapled security for the quarter, bringing the total declared dividend for the year to 40.5 sen — the highest since its listing as a stapled security in 2013. For the full year, KLCCP's net profit climbed 18.9% to RM931.29 million from RM782.66 million for the previous year, as revenue rose 10.9% to RM1.62 billion from RM1.46 billion. — KLCCP Stapled Group posts 38% jump in 4Q profit, declares highest yearly dividend since listing in 2013

Carlsberg Brewery Malaysia Bhd’s net profit for 4QFY2023 rose 39.75% to RM84.02 million from RM60.12 million a year ago, in the absence of the one-off loss recorded from the disposal of its old bottling line and prosperity tax, as well as recognition of deferred tax income. Quarterly revenue slipped 5.26% to RM580.53 million versus RM612.75 million previously, amid lower sales in both Malaysia and Singapore. Net profit for FY2023 was up 5.11% to a record high of RM333.24 million against RM317.05 million a year ago, mainly in the absence of the RM21.6 million prosperity tax incurred last year. Likewise, full-year revenue declined 6.28% to RM2.26 billion compared with RM2.41 billion in FY2022, dragged by lower sales on the back of softer market sentiment and inflationary pressures. It has recommended a final dividend of 31 sen per share subject to shareholders' approval at its upcoming 54th annual general meeting. — Carlsberg's FY2023 profit hits record high on absence of one-off prosperity tax, recommends 31 sen final dividend

MNRB Holdings Bhd’s net profit for its third quarter ended Dec 31, 2023 surged 47.36% to RM84.61 million or 10.8 sen per share, from RM57.42 million or 7.33 sen per share a year ago, driven by higher revenue from its insurance and takaful segment. Quarterly revenue rose 22.05% to RM980.87 million from RM803.69 million a year ago, mainly contributed by higher investment income and favourable fair value movement of investments. No dividend was declared for the quarter. — MNRB Holdings posts 47% jump in 3Q net profit on higher insurance and takaful revenue

Rexit Bhd’s new substantial shareholders — Datuk Seow Gim Shen, Metaco Assets Holdings Sdn Bhd and Bemas Holdings Sdn Bhd — have extended a formal unconditional mandatory takeover offer to acquire all the remaining ordinary shares in the company at 85 sen per share. This came after the three parties emerged as the new substantial shareholders of Rexit on Jan 17, after acquiring an aggregate of 92.27 million shares or a 53.27% stake in the group for a total cash consideration of RM78.43 million. The offer will remain open for acceptances until Feb 28, being the first closing date — the joint offerors may extend the date and time for acceptance beyond the first closing date in accordance with the provisions of the rules. The joint parties have also agreed to maintain the listing status of Rexit. — Rexit's new substantial shareholders extend formal takeover offer to acquire remaining shares

One Glove Group Bhd plans to implement an internal reorganisation of its glove business to focus solely on its existing glove factory in Kamunting, Perak. The reorganisation would include the reallocation of operational resources utilised by One Glove Venture Sdn Bhd (OGVSB) to Onetexx Sdn Bhd, a wholly owned subsidiary of One Glove which operates the Kamunting glove factory, given that OGVSB will not be carrying out the glove business moving forward. — One Glove proposes internal reorganisation of glove business

Ranhill Utilities Bhd has achieved commercial operation date of its 50MW large scale solar project under the 2021 awards (LSS4). This marks the group’s first venture into LSS ownership, being part of its pursuit into renewable energy. The project will operate under a 25-year concession period. — Ranhill achieves commercial operation date for 50MW LSS4

YTL Hospitality REIT (YTL REIT) is acquiring Syeun Hotel in Ipoh, Perak, for RM55 million cash from Syeun Hotel Bhd, as it looks to continuously acquire and invest in high-quality hospitality properties in Malaysia and internationally, with a view to providing long-term and sustainable income distribution to unitholders and achieving long-term growth in net asset value per unit. The proposed acquisition is expected to be completed during the first half of 2024. — YTL Hospitality REIT acquires Syeun Hotel in Ipoh for RM55m cash

PLB Engineering Bhd has entered into a deal to sell a vacant piece of land in Bandar Tanjung Bungah, Penang, measuring 1,922 square metres, from Victorious Triumphant Sdn Bhd for RM11.5 million. The group said it bought the land in 2009 for RM5.49 million. As at Aug 31, 2023, the audited net book value of the land stood at RM8.45 million. As such, the disposal is expected to result in a gain of about RM1.49 million. PLB Engineering said net proceeds will be utilised for repayment of bank borrowings worth up to RM8.05 million, and as working capital for the group. — PLB Engineering to sell vacant land in Penang to improve cash flow 

Kuala Lumpur City Hall (DBKL) has expanded the scope of ITMAX System Bhd’s contract to install and maintain the networked street lighting systems in Kuala Lumpur by RM47.2 million. This comes after DBKL awarded the company with a variation order for the job to include the replacement of broken light-emitting diode (LED) street lights with an expired warranty in the city. — DBKL expands scope of KL street lighting job for ITMAX by RM47.2m

Econpile Holdings Bhd has secured a RM30 million contract from Chingsan Development Sdn Bhd to undertake substructure works for a 15-storey office building in Shah Alam. The contract’s scope of work includes site clearing, earthworks, substructure and structure works for a five-storey basement car park, and is scheduled for completion within 16 months from Feb 24, 2024. — Econpile bags contract for RM30m substructure works in Shah Alam

LEAP Market-listed Steel Hawk Bhd has secured a one-year contract extension from E&P O&M Services Sdn Bhd (EPOMS) for the provision of scaffolding services for EPOMS' operations in Peninsular Malaysia to Feb 9, 2025. The contract was initially awarded in February 2022 for a contract period of two years with a one-year extension option. EPOMS is a wholly owned subsidiary of Petronas Carigali Sdn Bhd. — Steel Hawk secures contract extension from Petronas Carigali unit for scaffolding services