Affin Bank, PetDag, Telekom Malaysia, Media Prima, Genting Plantations, Hap Seng Plantations, Innoprise Plantations, Sunway, UEM Sunrise, Allianz Malaysia, Amway, Hibiscus Petroleum, ATA IMS and Matrix Concepts

Affin Bank, PetDag, Telekom Malaysia, Media Prima, Genting Plantations, Hap Seng Plantations, Innoprise Plantations, Sunway, UEM Sunrise, Allianz Malaysia, Amway, Hibiscus Petroleum, ATA IMS and Matrix Concepts

KUALA LUMPUR (Aug 24): Here is a brief look at some corporate announcements and news flow on Wednesday (Aug 24), which include Affin Bank Bhd, Petronas Dagangan Bhd, Telekom Malaysia Bhd, Media Prima Bhd, Genting Plantations Bhd, Hap Seng Plantations Holdings Bhd, Innoprise Plantations Bhd, Sunway Bhd, UEM Sunrise Bhd, Allianz Malaysia Bhd, Amway (Malaysia) Holdings Bhd, Hibiscus Petroleum Bhd, ATA IMS Bhd and Matrix Concepts Holdings Bhd.

Affin Bank Bhd’s net profit increased 24% to RM146.9 million in the second quarter of financial year ended 30 June 2022 (2QFY22) compared with RM117.9 million posted a year ago due to higher net interest income and contribution from its Islamic banking segment. The higher net profit was also due to lower allowance for impairment losses, offset by lower non-interest income and higher operating expenses. Quarterly revenue increased slightly to RM579.1 million from RM578.9 million. For the six months ended June 30 (6MFY22), Affin’s net profit jumped 55% to RM289.6 million from RM186.9 million. Revenue, however, was slightly lower at RM1.1 billion against RM1.11 billion last year.

Petronas Dagangan Bhd's (PetDag) net profit jumped 189% to RM237.68 million in 2QFY22 from RM82.14 million year-on-year, mainly due to higher gross profit from the retail segment in line with increase in volume sold. Quarterly revenue soared 83% to RM9.5 billion in 2QFY22 compared with RM5.18 billion a year before. The group declared an interim dividend of 11 sen per share, payable on Sept 22. Meanwhile, the group’s cumulative net profit for 6MFY22 climbed 30.35% to RM356.17 million from RM273.25 million in 1HFY20. Cumulative revenue grew 65.8% to RM17.12 billion from RM10.32 billion.

Telekom Malaysia Bhd (TM) saw a nearly 73% surge in its net profit for 2QFY22 to RM378.06 million from RM218.59 million a year ago as revenue from all lines of services came in higher, particularly data and internet services. Notably, TM's quarterly net profit of RM378.06 million is the highest quarterly net profit since 4QFY11 of RM598.3 million. The telecommunication giant also declared an interim dividend of nine sen per share declared with dividend reinvestment scheme applicable. For 6MFY22, TM's net profit expanded by 32% to RM717.91 million from RM544.06 million as revenue increased 7.34% to RM5.98 billion from RM5.57 billion.

Media Prima Bhd’s net profit for 2QFY22 increased 17.9% to RM15.82 million from RM13.42 million in the same period last year, despite lower revenue, supported by lower operating expenses and higher advertising income. Revenue fell 10.9% to RM260.58 million from RM292.45 million in the same period a year ago, dragged by lower sales of home shopping goods, content and newspaper. For 6MFY22, Media Prima’s net profit rose 17% to RM21.85 million from RM18.66 million — though revenue fell 7.12% to RM508.05 million from RM546.98 million — thanks to lower opex and other depreciation, as well as stronger other operating income.

Boosted by sharply higher palm oil prices, Genting Plantations Bhd’s net profit for 2QFY22 more than doubled to RM223.43 million, from RM104.63 million. Quarterly revenue was higher by 32.36% to RM1.05 billion from RM790.11 million. The group declared an interim single-tier dividend of 15 sen per share, four sen higher than the 11 sen declared for the corresponding period of 2021. The strong quarterly performance also lifted its 6MFY22 net profit to RM340.08 million, twice its net profit of RM168.36 million a year ago. Revenue also rose 18.81% to RM1.58 billion from RM1.33 billion previously.

Hap Seng Plantations Holdings Bhd's net profit for 2QFY22 jumped 41.08% to RM66.9 million from RM47.42 million a year ago, on the back of higher selling prices of crude palm oil (CPO) and palm kernel (PK), despite lower sales. Revenue grew 36.33% to RM246.86 million from RM181.07 million. It declared a first interim dividend of five sen per share — as opposed to 1.5 sen in the corresponding quarter last year — to be paid on Sept 22. For 6MFY22, the planter posted a net profit of RM168.57 million, up 119.52% from the RM76.79 million it made in the corresponding six months last year, as cumulative revenue jumped 61.72% to RM489.02 million from RM302.39 million.

Innoprise Plantations Bhd’s net profit for 2QFY22 jumped 50% to RM30.94 million from RM20.61 million in the same quarter last year, as it enjoyed higher selling prices of its CPO and PK. Revenue climbed 44% to RM78.73 million from RM54.64 million in 2QFY21. The group declared a second interim dividend of seven sen per share to be paid on Sept 29. For 6MFY22, the group’s net profit more than doubled to RM60.47 million from RM29.62 million, as cumulative revenue jumped 60.58% to RM153.19 million from RM95.39 million, as it sold more CPO and PK at higher prices.

Sunway Bhd’s net profit for 2QFY22 jumped 140% to RM168.88 million from RM70.52 million in 2QFY21, boosted by strong operating contributions from most business segments. Quarterly revenue expanded 67% to RM1.28 billion from RM767.3 million. The group declared a first interim single-tier cash dividend of two sen per share, to be paid on Oct 6. For 6MFY22, Sunway’s cumulative net profit stood at RM309 million, more than double the RM128.97 million in 6MFY21. Six-month cumulative revenue grew 48.3% to RM2.39 billion from RM1.61 billion.

UEM Sunrise Bhd made a profit of RM20.7 million or 0.41 sen per share in 2QFY22, on higher revenue and improved operating profit margins. This compares to the net loss of RM7.37 million or 0.15 sen it recorded in 2QFY21, which was weighed by unfavourable share of results from joint ventures and associates, among others. Revenue grew 46.5% to RM365 million from RM249.14 million in 2QFY21, mainly due to the sale of non-strategic plots of land in Mersing and Iskandar Puteri. For 6MFY22, UEM Sunrise returned to the black, registering a net profit of RM39.72 million versus RM11.69 million net loss a year ago, as revenue jumped 55.72% to RM781.45 million from RM501.84 million.

Allianz Malaysia Bhd saw its net profit for 2QFY22 drop 33.55% year-on-year to RM96.62 million from RM145.41 million. The drop was mainly due to lower profit from its life insurance segment. Quarterly revenue, in contrast, increased 5.5% to RM1.65 billion from RM1.57 billion mainly due to higher gross earned premiums and investment income by RM73.3 million and RM12.5 million respectively. Cumulatively, Allianz’s net profit in 6MFY22 slipped 5.14% to RM197.935 million from RM208.67 million despite six-month revenue rising 5.89% to RM3.36 billion from RM3.175 billion.

Amway (Malaysia) Holdings Bhd’s net profit for 2QFY22 jumped nearly 91% year-on-year to RM14.98 million from RM7.86 million a year ago, boosted by a price hike and normalisation of Amway Business Owners’ (ABO) sales incentives. Its revenue for the quarter was flat at RM354.62 million from RM355.91 million a year ago. The board has declared a second single-tier interim dividend of five sen per share, with an ex-date of Sept 9, to be paid on Sept 23. For 6MFY22, its net profit grew 25.7% y-o-y to RM35.15 million from RM27.97 million. Its cumulative revenue expanded 5.11% to RM745.85 million from RM709.57 million.

Hibiscus Petroleum Bhd posted a four-fold spike in its net profit for the fourth quarter ended June 30, 2022 (4QFY22) to RM215.51 million from RM49.6 million a year ago, underpinned by contributions from its newly acquired assets as well as a strong oil price environment. Quarterly revenue more than tripled to RM868.37 million from RM253.02 million a year ago. Meanwhile, for FY22, Hibiscus’ annual net profit soared to RM613.06 million from RM103.68 million in FY21, while annual revenue more than doubled to RM1.7 billion from RM804.78 million.

ATA IMS Bhd posted a net loss of RM15.25 million in the first quarter ended June 30, 2022 (1QFY23) compared to a net profit of RM23.38 million a year ago, as the group continued to operate below its production capacity, following the termination of the manufacturing contract by Dyson. Quarterly revenue declined 56.6% to RM387.36 million from RM893.05 million a year ago.

Matrix Concepts Holdings Bhd is buying 1,382.2 acres of land in Malaysia Vision Valley 2.0 (MVV2.0), Negeri Sembilan from NS Corporation (NS Corp), the State’s development arm, for RM460 million. Matrix Concepts, via its indirect subsidiary MCHB Development (NS) Sdn Bhd, will also set up a joint venture company with NS Corp on a 85:15 basis called N9 Matrix Development Sdn Bhd to develop the land.

https://www.theedgemarkets.com/article/affin-bank-petdag-telekom-malaysia-media-prima-genting-plantations-hap-seng-plantations