Hartalega, Heineken, MR DIY, F&N, Sime Darby, Sime Darby Plantation, Eco World, KNM, Cypark, SCIB, S&F Capital, Caely, LYC Healthcare, MCIL, Southern Score and Citaglobal

Hartalega, Heineken, MR DIY, F&N, Sime Darby, Sime Darby Plantation, Eco World, KNM, Cypark, SCIB, S&F Capital, Caely, LYC Healthcare, MCIL, Southern Score, Citaglobal

Kuala Lumpur (November 8): Here is a brief summary of some of the corporate announcements that made the news on Tuesday (November 8) including Hartalega Holdings Bhd, Heineken Malaysia Bhd, MR DIY Group (M) Bhd, Fraser & Neave Holdings Bhd and Sime Darby Bhd, Sime Darby Plantation Bhd, Eco World Development Group Bhd, KNM Group Bhd, Cypark Resources Bhd, Sarawak Consolidated Industries Bhd (SCIB), S&F Capital Bhd, Caely Holdings Bhd, LYC Healthcare Bhd, Media Chinese International Ltd (MCIL), Southern Builders Register Bhd and Citaglobal Bhd.

Hartalega Holdings Bhd Its net profit for the second quarter ended September 30, 2022 (2QFY23) saw its net profit fall 96.9% to RM28.3 million as lower average selling price (ASP) for gloves eroded volume of revenue while higher energy costs hit its net profit. Revenue for the quarter decreased 70.9% YoY (YoY) to RM584.56 million from RM2.01 billion last year. Cumulative net profit for the six months ended September 30, 2022 fell 96.3% to RM116.62 million from RM3.17 billion, boosted by a significant revenue contraction and an increase in natural gas tariffs and minimum wages. Cumulative revenue decreased 75.3% to RM 1.48 billion from RM 4.48 billion.

Heineken Malaysia Bhd.Net profit for the third quarter ended September 30, 2022 (Q3 22) doubled to RM108.74 million from RM51.02 million in the same period last year, primarily driven by improved revenue growth along with cost and value-effective initiatives. Quarterly revenue increased 84.81% to RM720.47 million from RM389.85 million in the same period last year due to the strong recovery after Covid-19 following the reopening of international borders, increased commercial consumption as well as the positive impact of the combination of growth of its premium portfolio. Notably, the latest quarterly revenue of RM720.47 million is a new record high for Heineken, surpassing the previous quarterly revenue record of RM698.33 million in the first quarter of FY22.

MR DIY Group (M) Bhd He said the group will continue to conduct price reviews to address continued input cost pressure, despite posting an 11.99% increase in third-quarter net profit. The home improvement retailer said net profit for the quarter ended September 30, 2022 (Q3 22) rose to RM101.18 million from RM90.35 million in the previous year, on the back of a 25.8% increase in revenue to RM966.17 million from RM768.02 million. Malaysian ringgit. The group noted that its net profit for the quarter was hampered by other administrative and operating expenses of RM37.6 million and RM214.7 million, year-on-year increases of 39% and 38.7%, respectively.

Freezer & Neff Holdings Bhd.(F&N) net profit jumped 68.49% to RM98.89 million in the fourth quarter ending September 30, 2022 (Q4 22) compared to RM58.69 million in the fourth quarter of FY21. Quarterly revenue grew 26.93% to reach to RM1.14 billion versus RM896.26 million driven by the positive momentum of the recovery in economic activities, out-of-home consumption and trade restocking, reflecting the return of business to pre-pandemic levels. It also recommended a final single-tier dividend of 33 cents per share, which would bring the total dividend for fiscal year 22 to 60 cents per share, the same amount declared in fiscal year 21.

Sime Darby Bhd (SDB) has completed the sale of Weifang Port companies in China for about RM1.27 billion, marking its complete exit from the non-core port business as disposals were completed on Monday. Proceeds from the sale of Weifang Port companies will be used for future investments in the group’s core manufacturing and engine business, for capital expenditures, and/or to repay short-term loans.

Sime Darby Bhd. FarmRefining and marketing arm Sime Darby Oils (SDO) is investing more than US$150 million (RM711.18 million) to build a new refinery for specialty oils and fats in Sumatra. The company said the refinery will be located in the Sei Mangkei Special Economic Zone in the Simalungun District of North Sumatra with a construction area of ​​16 hectares. The refinery is expected to start production in 2024. When completed, it will contribute an annual production capacity of more than 450,000 tons of palm and laureate products.

Eco World Development Group Bhd. The wholly owned subsidiary Hasrat Budi Sdn Bhd (HBSB) said it will no longer own any shares in MySJ Sdn Bhd. The real estate developer said the option price check between Entomo Malaysia Sdn Bhd – operator of the MySejahtera app – and its founder, Group CEO and Director of MySJ Raveenderen Ramamoothie, was acquitted.

KNM Bhd . Group Announced the resignation of its CEO and Group CEO Terence Tan Kun Ping, effective Tuesday (November 8). The maker of oil and gas processing equipment said Tan, 52, was vacating the position “to pursue other interests”. In place of Tan, KNM said non-independent director Ravindrasingham Balasingham has been reappointed as CEO and Group CEO.

Cypark Bhd . Resources It aims to raise up to RM73.36 million through a private equity offering for Environmental Solutions and working capital for the Renewable Energy Group. The offering consists of 178.94 million new shares representing up to 30% of the Group’s issued shares. The group aims to raise RM72.43 million in the lower scenario and RM73.36 million in the maximum scenario, with the funds used to expand the group’s competitive advantage and increase its foothold as a contributor to government initiatives to increase renewable energy production, as evidenced by the group’s LSS projects and first WTE plant in Malaysia .

Sarawak Consolidated Industries Bhd (SCIB) said that the external auditor has expressed a qualified opinion on the Group’s financial statements for the year ended 30 June 2022 (Fiscal Year 22), in relation to a settlement agreement relating to six construction projects implemented in Qatar and Oman. The civil engineering group said in a file, citing auditor Nexia SSY PLT’s report, that the qualified opinion is related to the settlement agreement signed between SCIB and the project clients on November 10, 2021. According to the report, due to the lack of sufficient audit evidence of the transactions, Nexia was unable to determine the “accuracy and existence of The Group and Company receivables due from foreign project owners as on July 1, 2021, amounted to RM60.67 million and RM11.86 million, respectively. In addition, Nexia said it was also unable to determine the “accuracy and correctness” of the accumulated losses on July 1, 2021, which amounted to RM53.92 million and RM38.11 million for the group and the company respectively.

9.44 acre land near Kulim Hi-Tech Park (KHTP) in Kedah S&F Capital Bhd He proposed the acquisition of RM7.4 million for use in industrial or residential development. In response to inquiries from Bursa Malaysia about the proposed purchase, property developer S&F Capital said the land is three kilometers from Phase 4 of the KHTP project and will therefore be converted to industrial or residential status from its current agricultural status. Regarding the purchase consideration of RM7.4 million, S&F Capital said it was set on an “as is where it is” basis, but added that no valuation had been made on the ground yet.

Caely Holdings BhdDatuk Seri Tee Yam’s largest shareholder @ Koo Tee Yam and former Executive Vice President Datin Seri Jessie Wong Siaw Puie filed a lawsuit to recover RM3.96 million they allegedly paid to the company for day-to-day operations and management costs. The distressed underwear manufacturer said the lawsuit was fixed to case management on November 18, adding that it was seeking legal advice in the matter.

LYC Healthcare Bhd It proposed the acquisition of a 70% stake in Clinical Nutrition Intl (M) Sdn Bhd, which is mainly involved in the supply of nutritional ingredients, for RM 2.24 million in cash. The group said it will streamline interests in all of its nutrient businesses under LYC Nutrihealth Sdn Bhd (LYCN), a wholly owned subsidiary of LYC Medicare Singapore Pte Ltd. LYCN will also enter into a placement option agreement with sellers of Clinical Nutrition for the remaining 30% of the shares which will be exercised effective September 28, 2024 and expiring by September 27, 2027.

China Media International Co., Ltd. (MCIL) said it expects to return to profitability for the six months ending September 30, 2022, primarily driven by increased revenue from the group’s publishing business, particularly in Malaysia. The group expects to report a profit attributable to the group owners in the range of US$900,000 (RM4.26 million) to US$1.1 million for the six-month period, compared to a loss of around RM500,000 in the corresponding period of 2021. Posting to the gradual recovery of economic conditions from the impact of Covid-19.

Southern Score Builders Bhd. (SSB) Its Guidance Note 3 (GN3) status will be lifted effective Wednesday (November 9) following the completion of its settlement plan. This is after SSB has settled its financial position and level of operations, and is no longer releasing any of the standards under Rule 2.1 of GN3 of the ACE market listing requirement. SSB, formerly known as G Neptune Bhd, launched the GN3 standards in late 2017.

After acquiring a collective stake of more than 50% in Citaglobal BhdOn Tuesday (8 November), the new major shareholders made a takeover offer to minority shareholders of the remaining shares in the group. TIZA Global Sdn Bhd, Tan Sri Muhammad Norza Zakaria and the persons acting in the party are offering the remaining shares at 19 cents a share, according to the takeover notice filed with Bursa Malaysia by Citaglobal. They acquired a majority stake in the group by issuing 736.84 million new shares at the same 19 cents per share price.

#Hartalega #Heineken #DIY #Sime #Darby #Sime #Darby #Plantation #Eco #World #KNM #Cypark #SCIB #Capital #Caely #LYC #Healthcare #MCIL #Southern #Score #Citaglobal

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