MAHB, Bintulu Port, Affin Bank, Capital A, MRCB, Sarawak Oil Palms, CIMB, TIME dotCom, AirAsia X, DRB-Hicom, S P Setia, IHH, Tropicana, Genting, 7-Eleven Malaysia

TheEdge Fri, Mar 01, 2024 01:28am - 1 month View Original

KUALA LUMPUR (March 1): Here is a brief recap of some corporate announcements that made the news on Thursday.

Malaysia Airports Holdings Bhd's (MAHB) net profit for the financial year ended Dec 31, 2023 (FY2023) surged 188% to RM543.17 million or 29.17 sen per share from RM187.19 million or 7.82 sen per share, due to to an increase in revenue, other income and share of profit from associates and joint ventures. The airports operator said revenue for the year jumped to RM4.91 billion from RM3.13 billion. MAHB said net profit for the fourth quarter dropped to RM287.69 million from RM359.14 million despite higher revenue of RM1.37 billion versus RM1 billion previously. MAHB declared a final dividend of 10.8 sen per share in respect of FY2023. MAHB's FY2023 net profit surges 188% to RM543m

Bintulu Port Holdings Bhd reported a 30% increase in its fourth-quarter net profit from a year earlier thanks largely to higher revenue from cargo handling. Net profit for the quarter ended Dec 31, 2023 (4QFY2023) rose to RM46.34 million or 10.07 sen per share, from RM35.71 million or 7.76 sen per share a year earlier. Revenue for the quarter increased by 8% year-on-year to RM217.47 million, from RM201.39 million in 4QFY2022. Bintulu Port declared a fourth interim dividend of three sen per share, payable on March 22, bringing the total dividend declared year to date to 12 sen. For the full year, Bintulu Port recorded 2% lower net profit at RM125.06 million or 27.19 sen per share, from RM127.72 million or 27.77 sen per share in FY2022. Full-year revenue declined 3% to RM770.06 million from RM793.09 million in the preceding year. Bintulu Port 4Q net profit up 30%, declares three sen dividend

Affin Bank Bhd said its net profit more than doubled in the fourth quarter from a year earlier thanks to a sharp decline in provisions and lower taxes. The company however, missed some of its own targets for 2023, with profit-before-tax, net interest margin and cost-to-income ratio coming in lower than expected. Net profit for the three months ended Dec 31, 2023 stood at RM39.54 million, compared to RM16.56 million over the same period a year earlier. Net interest income fell 24% year-on-year to RM177.27 million while non-interest income was a tad lower at RM62.22 million. Allowances for credit impairment losses fell to RM11.1 million from over RM170 million. For the full year of 2023, net profit was down 66% to RM402.19 million from RM1.18 billion, largely due to lower dividends from subsidiaries. The company booked RM1.3 billion in dividends from the divestment of its asset management arm. Affin proposed a dividend of 5.76 sen per share for FY2023, presenting a total dividend payout of RM135.3 million or 33.6% of net profit for the year. Affin Bank 4Q net profit surges, misses some of its 2023 targets

Capital A Bhd sank into the red for the final quarter of 2023, dragged by higher operating expenses, asset depreciation and higher financing costs. Net loss for the three months ended Dec 31, 2023 was RM159.57 million compared with net profit of RM109.95 million over the same period a year prior. Revenue, however, more than doubled year-on-year to RM4.86 billion from RM2.2 billion on strong recovery of both domestic and international travel demand. Nevertheless, Capital A returned to the black after four consecutive years of net losses with net profit of RM836.99 million in FY2023 versus a net loss of RM2.63 billion in FY2022. Revenue for the full year more than doubled to RM14.77 billion from RM6.44 billion a year earlier. Capital A sinks into the red in 4Q as higher expenses, depreciation drag

Malaysian Resources Corp Bhd (MRCB) said its net profit jumped to RM80.23 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), from RM13.02 million a year earlier, as gains from disposal of two properties offset a decline in revenue. Revenue fell nearly 20% to RM668.78 million, from RM833.94 million previously, following the completion of major infrastructure and property development projects. For the full FY2023, net profit rose 56% to RM101.03 million from RM64.85 million a year earlier, while revenue was 22% lower at RM2.51 billion versus RM3.21 billion. MRCB declared a first and final dividend of one sen per share for a total payout of RM44.7 million, payable on May 20. MRCB's 4Q profit jumps to RM80m on disposal gains, from RM13m a year ago

Sarawak Oil Palms Bhd (SOP) said its net profit more than doubled in the fourth quarter from a year earlier, thanks to higher production and sales volume. Net profit for the three months ended Dec 31, 2023 (4QFY2023) was RM113.61 million compared with RM47.87 million over the same period a year earlier. Revenue for the quarter rose 28% year-on-year to RM1.47 billion from RM1.15 billion. For the full-year (FY2023) however, net profit fell 37% to RM300.45 million, or 33.75 per share, from RM479.65 million or 54.56 sen per share due to lower average realised prices of palm products. Revenue slipped 3.5% to RM5.12 billion from RM5.3 billion. Sarawak Oil Palms 4Q net profit more than doubles as output, volume rise

CIMB Group Holdings Bhd said its net profit rose nearly 30% year-on-year for the fourth quarter from a year earlier, thanks to higher operating income and lower provisions. Net profit for the three months ended Dec 31, 2023 (4QFY2023) was RM1.72 billion compared to RM1.32 billion in the previous year’s corresponding quarter. For the quarter under review, the group recommended a second interim dividend of 18.5 sen per share and a special dividend of seven sen per share. This brings the total dividend declared for FY2023 to a record high of 43 sen per share, up from the previous year’s 26 sen per share. For the full year, net profit climbed 28.3% to RM6.98 billion from RM5.44 billion a year ago. Net interest income dipped marginally by 3.5% to RM14.63 billion, while non-interest income surged 36.5% to RM6.39 billion from investment and market-related income. CIMB Group says 4Q net profit up nearly 30%, declares special dividend

TIME dotCom Bhd saw a 30.54% drop in fourth-quarter net profit from a year earlier dragged by asset writedown but ended 2023 with record profits and dividend plan. Net profit for the three months ended Dec 31, 2023 was RM84.91 million compared to RM122.24 million a year earlier. Revenue, however, rose 6.6% year-on-year to RM422.26 million from RM396.2 million, with the largest growth coming from retail, followed by wholesale and enterprise customers. The group declared a record high total dividend of 85.8 sen per share for FY2023 after announcing an interim dividend of 8.25 sen per share and special dividend of 6.9 sen per share. For the full FY2023, the group posted a record-breaking net profit of RM2.57 billion on revenue of RM1.59 billion, boosted by gains from the divestment of AIMS and one-off items. In comparison, the group made RM449.91 million net profit on revenue of RM1.45 billion a year ago. TIME dotCom posts record profits, dividend for FY2023

Higher maintenance and overhaul cost, elevated staff cost and a rise in fuel prices have dragged down AirAsia X Bhd’s (AAX) fourth quarter net profit despite a jump in revenue. For the three months ended Dec 31, 2023 (4QFY2023), AAX’s net profit tumbled 82.17% to RM27.37 million from RM153.48 million a year earlier. In contrast, revenue more than doubled to RM818.22 million from RM339.3 million in the previous October-December quarter, due to healthy passenger load factor and higher average passenger fare. For FY2023 as a whole, AAX registered a net profit of RM366.47 million on revenue of RM2.53 billion. AAX’s 4Q profit down 82% on higher costs and fuel prices

DRB-Hicom Bhd posted a net profit of RM26.47 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), compared with a net loss of RM100.06 million a year earlier, helped by higher financing income from its banking sector. The net profit was, however, lower than the RM70.8 million reported for the immediate preceding quarter. The group said revenue for 4QFY2023 declined 13.3% year-on-year to RM3.77 billion from RM4.35 billion. For FY2023 as a whole, DRB-Hicom's net profit rose 27.3% to RM238.88 million from RM187.71 million in FY2022, while revenue increased 2.2% to RM15.85 billion from RM15.51 billion. DRB-Hicom posts RM26.5m net profit in 4Q amid higher financing income

S P Setia Bhd has reported a 71.12% jump in its fourth quarter net profit to RM148.24 million from RM86.63 million a year earlier, helped by higher sales of its properties. Revenue for the quarter ended Dec 31, 2023 (4QFY2023) fell 18.98% year-on-year to RM1.38 billion from RM1.71 billion, which the group attributed to lower revenue from the property development segment following the completion of the group's Daintree Residence in Singapore in the previous year. The property developer highlighted that it achieved RM5.1 billion sales in FY2023, exceeding its target of RM4.2 billion and surpassing RM4.11 billion sales in FY2022. Full-year net profit slipped by a marginal 1.92% to RM298.57 million from RM304.4 million in FY2023, as revenue fell 1.81% to RM4.37 billion from RM4.54 billion. The group declared a dividend of 1.34 sen per share for FY2023. S P Setia records 71% jump in 4Q net profit, full-year sales exceed target

IHH Healthcare Bhd’s net profit more than tripled year-on-year in its fourth quarter, driven by higher patient volumes and improved case mix, coupled with the absence of over RM300 million of impairment loss on its China assets and goodwill amid Covid-19 restrictions that it booked in 4QFY2022. Net profit rose to RM727.45 million or 8.26 sen per share for the three months ended Dec 31, 2023 (4QFY2023), from RM191.27 million or 2.17 sen per share a year ago. Revenue for 4QFY2023 grew 9% to RM5.29 billion from RM4.86 billion a year ago. The group declared a final dividend of 5.5 sen, with an ex-date on March 26 this year. For the full FY2023, IHH’s net profit rose 91% to RM2.95 billion from RM1.55 billion in FY2022, while revenue grew 16% to RM20.93 billion from RM17.99 billion. IHH’s net profit triples on absence of impairment while revenue climbs; raises dividend payout ratio to 30%

Tropicana Corp Bhd is acquiring a piece of land in Kota Damansara measuring 7.79 acres for RM224 million to be developed into a residential area comprising four to five tower blocks of serviced apartments, with an estimated gross development value of about RM2.8 billion. The land is situated adjacent to Tropicana’s mixed development, Tropicana Gardens, which is at its final phase of development. As such, the land is expected to have good development potential moving forward. Tropicana buys RM224 mil Kota Damansara land from PKNS for RM2.8 bil project

Genting Bhd posted a net profit of RM150.1 million in the fourth financial quarter ended Dec 31, 2023 (4QFY2023), down 71.2% from the preceding quarter. However, the quarterly net profit is a contrast to a net loss of RM168.72 million a year ago. Earnings per share stood at 6.82 sen against a loss per share of 3.41 sen in 4QFY2022. Quarterly revenue grew 14.2% to RM7.27 billion from RM6.36 billion last year. Genting has declared a final dividend of nine sen per share, bringing the total dividends declared for the financial year ended Dec 31, 2023 (FY2023) to 15 sen per share — down from 16 sen per share in FY2022. For the financial year ended Dec 31, 2023 (FY2023), Genting returned to the black in FY2023 after three years of losses, on the back of higher revenue driven by its leisure and hospitality division. Genting posted an annual net profit of RM929.2 million against a net loss of RM299.91 million in FY2022, while annual revenue expanded 21.15% to RM27.12 billion from RM22.39 billion a year ago. Genting posts RM150 mil net profit in 4QFY2023; declares nine sen final dividend

7-Eleven Malaysia Holdings Bhd has registered a record-high net profit of RM221.08 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), compared with RM2.65 million a year ago. The quarterly earnings were mainly boosted by the divestment gain derived from the stake sale in 75%-owned subsidiary Caring Pharmacy Group Bhd. However, the convenience store chain posted an operating loss of RM28.11 million in 4QFY2023 amid a 58% sharp rise in administrative expenses to RM98.5 million against RM62.33 million in the previous corresponding quarter, as a result of longer operating hours, new store expansions and workforce expansion. Quarterly revenue increased by 5.5% to RM694.5 million from RM658 million a year earlier. For the full financial year ended Dec 31, 2023 (FY2023), the group’s net profit soared to RM276.23 million from RM66.88 million a year earlier, while its revenue increased by 12% to RM2.78 billion from RM2.48 billion a year earlier. Divestment gain of RM207 mil lifts 7-Eleven Malaysia to record high profit in 4QFY2023

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