UEM Sunrise, MR DIY, TWL Holdings, Malaysia Smelting Corp, Syarikat Takaful and Kelington

UEM Sunrise, MR DIY, TWL Holdings, Malaysia Smelting Corp, Syarikat Takaful and Kelington

KUALA LUMPUR (Aug 4): Here is a brief look at some corporate announcements and news flow on Thursday (Aug 4), which include UEM Sunrise Bhd, MR DIY Group (M) Bhd, TWL Holdings Bhd, Malaysia Smelting Corporation Bhd's (MSC), Syarikat Takaful Malaysia Keluarga Bhd and Kelington Group Bhd.

UEM Sunrise Bhd has announced the acquisition of a parcel of freehold land on Jalan Sultan Yahya Petra (formerly known as Jalan Semarak), Kuala Lumpur for RM384.04 million. The vendor is Nipponkey Sdn Bhd, a company largely controlled by Paragon Globe Bhd Chairman Datuk Seri Edwin Tan Pei Seng. As part settlement of the purchase price, Nipponkey signed disposal and land transfer agreements with UEM Sunrise’s indirect wholly-owned subsidiaries, Nusajaya Rise Sdn Bhd and Symphony Hills Sdn Bhd, in relation to land in Iskandar Puteri, Johor. The payment for the Iskandar Puteri land is set at RM148.25 million, the group said. The balance RM235.79 million for the purchase of the land in Kuala Lumpur will be paid in cash.

MR DIY Group (M) Bhd's net profit jumped 64.59% in the second quarter ended June 30, 2022 to RM135.19 million, the highest quarterly earnings since it was listed, from RM82.13 million in the corresponding quarter last year, contributed by high revenue. Revenue rose 38.02% to RM1.05 billion from RM759.82 million, which is the group’s highest quarterly revenue after the RM975.4 million reported for 4QFY21. The group declared an interim dividend of RM56.6 million or 0.6 sen per share, to be paid on Sept 21.

TWL Holdings Bhd, formerly known as Tiger Synergy Bhd, is buying three plots of freehold land in UEP Subang Jaya (USJ) and Putra Heights for RM45 million. The vendors are INTA Development Sdn Bhd and Sime Darby Property (Bukit Raja) Sdn Bhd, a wholly-owned subsidiary of Sime Darby Property Bhd.

Malaysia Smelting Corporation Bhd's (MSC) second quarter net profit jumped by over 13 times to RM39.45 million from RM2.93 million a year earlier, on the back of higher revenue. Quarterly revenue rose 24.98% to RM408.84 million from RM327.12 million, underpinned by higher average tin prices. On a quarter-on-quarter basis, however, MSC’s net profit was down 39% against the RM64.3 million in the immediate preceding quarter, while revenue came in higher by 14% from RM359.48 million.

Syarikat Takaful Malaysia Keluarga Bhd’s net profit in the second quarter fell 14.62% to RM69.62 million, from RM81.54 million a year earlier, on the back of higher gross benefits and claims. Quarterly revenue was up 18.64% to RM831.93 million from RM701.21 million, mainly attributable to higher sales generated from the family takaful and general takaful businesses.

Kelington Group Bhd secured an RM117 million contract to undertake bulk and specialty gas system distribution works for a memory solutions’ fabrication facilities in Singapore. Kelington said its wholly-owned subsidiary Kelington Engineering (Singapore) Pte Ltd received the award of contract from a “customer in Singapore who is the leader in the design, engineering, and delivery of major complex projects and facilities for high-tech industries”.

https://www.theedgemarkets.com/article/uem-sunrise-mr-diy-twl-holdings-malaysia-smelting-corp-syarikat-takaful-and-kelington