•Berjaya Land Bhd’s losses in the first quarter ended Sept 30, 2020 (1QFY21) narrowed to RM41.88 million, from RM136.77 million in 4QFY20, following the lifting of movement restrictions nationwide. Revenue more than doubled to RM1.46 billion from RM541.58 million in 4QFY20. However, the 1QFY21 net loss is over six times higher, compared with RM5.99 million in 1QFY20. Revenue declined by 7.7% from RM1.58 billion in 1QFY20.
•Inari Amertron Bhd’s 1QFY21 net profit jumped 47% to RM70.07 million, from RM47.73 million a year prior, on higher volume loading of products and a reversal of deferred tax provision. Revenue climbed 10% to RM347.62 million, from RM316.61 million. The group declared a first interim dividend of two sen per share, payable on Jan 8, 2021. The payout is higher than the 1.3 sen it declared a year ago.
•Hong Leong Industries Bhd posted a net profit of RM50.72 million in 1QFY21, after posting a net loss in 4QFY20. Revenue more than doubled to RM652.66 million compared with RM311.11 million in 4QFY20. The group declared an interim single-tier dividend of 17 sen per share, payable on Dec 23. On a year-on-year basis, Hong Leong’s net profit was 19.9% lower than the RM63.35 million reported for 1QFY20, while revenue was down 9.2% from RM719.37 million.
•AirAsia Group Bhd’s net profit for the third quarter ended Sept 30, 2020 (3QFY20) narrowed to RM851.78 million, from RM992.89 million in 2QFY20, on pent up demand from local holidaymakers. Revenue rose by four times to RM442.91 million from RM118.94 million in 2QFY20. On a year-on-year basis, losses widened from RM51.44 million in 3QFY19, while revenue fell 86% from RM3.07 billion. Nine-month net loss stood at RM2.66 billion, compared with a net profit of RM80.72 million in the same period last year, while revenue shrank 68% to RM2.87 billion from RM9.09 billion.
•ARB Bhd’s 3QFY20 net profit inched up 1.27% to RM8.4 million from RM8.29 million in 3QFY19, with growth mitigated by higher cost of sales. Revenue increased 71.78% to RM58.3 million from RM33.94 million a year ago. Nine-month net profit rose 7.91% to RM23.72 million from RM21.98 million a year ago, while revenue more than doubled to RM146.99 million from RM57.65 million. Separately, the group said it is teaming up with China’s state-owned China United Network Communications Group Co Ltd (China Unicom) to undertake smart building projects and other ancillary businesses in Malaysia.
•Malakoff Corp Bhd’s 3QFY20 net profit dropped 38% to RM50.8 million from RM82.49 million a year earlier, on lower revenue and absence of now disposed subsidiary Malakoff Australia Pty Ltd. Revenue fell to RM1.48 billion from RM1.82 billion. Nine-month net profit rose to RM244.94 million from RM176.83 million a year earlier, although revenue from continuing operations was lower at RM4.76 billion versus RM5.56 billion.
•UEM Sunrise Bhd saw its net loss narrow to RM28.87 million in 3QFY20 from RM93.36 million in 2QFY20. Revenue jumped 94% to RM217.44 million, from RM111.96 million in 2QFY20, on higher sales and construction activities during the Recovery Movement Control Order (RMCO), the absence of costs on written down inventories and lower unfavourable share of results from joint ventures and associates. The group had posted a net profit of RM27.1 million in 3QFY19, while the latest quarterly revenue is 33.63% higher than the RM327.61 million reported in 3QFY19. For the nine-month period, net loss rose to RM144.17 million from RM97.56 million in the same period last year. Nine-month revenue fell to RM572.5 million, from RM1.75 billion.
•Syarikat Takaful Malaysia Keluarga Bhd (STMKB)’s lower family takaful product sales resulted in 3QFY20 net profit falling by 26.74% to RM82.6 million, from RM112.34 million in the 3QFY19. Quarterly revenue declined marginally by 0.01% to RM753.47 million, from RM753.51 million. STMKB’s 9MFY20 net profit was down 10.51% at RM259.27 million, from RM289.73 minion in the corresponding nine months last year. Revenue declined 6.9% to RM2.18 billion from RM2.34 billion.
•Tan Chong Motor Holdings Bhd saw net losses narrow to RM7.33 million in 3QFY20, from RM78.36 million in 2QFY19, following a rebound in vehicle sales and sales tax exemptions for locally-manufactured vehicles. Revenue expanded by 88% to RM964.54 million from RM512.89 million in 2QFY20. The group declared an interim dividend of 1.5 sen per share payable on Dec 28. Tan Chong posted a net profit of RM9.25 million in 3QFY19 and revenue was higher at RM1.05 billion. For the nine-month period, the group posted a net loss of RM95.96 million versus a net profit of RM44.66 million a year earlier, as revenue dropped 31% to RM2.21 billion from RM3.2 billion.
•Leong Hup International Bhd’s 3QFY20 net profit was up 38.5% from RM16.27 million in 2QFY20, on improved revenue from Vietnam and smaller losses from its Indonesian operations. Revenue was up 10.4% at RM1.57 billion from RM1.43 billion in 2QFY20. Compared with a year ago, net profit was 49.2% down from RM44.38 million, while revenue increased from the RM1.53 billion in 3QFY19. Nine-month net profit halved at RM60.59 million, from last year's RM121.05 million, while revenue declined 1.7% to RM4.43 billion, from RM4.51 billion.
•My EG Services Bhd (MyEG)’s 3QFY20 net profit was 12.19% higher at RM70.74 million, from RM63.06 million in 2QFY20. Revenue rose 9.46% to RM136.09 million from RM124.34 million. The higher earnings were due to an increase in volume from Covid-19 health screening and sale of groceries through its “Nak Beli” online store, as well as the introduction of new services including the online renewal of motorcycle insurance, road tax and competent driving licence. No comparative year-on-year numbers were provided due to a change in the group’s financial year-end from Sept 30 to Dec 31. 9MFY20 net profit was RM192.64 million on revenue of RM382.17 million.
•Wah Seong Corp Bhd’s 3QFY20 net losses ballooned to RM255.83 million from RM29.64 million in 2QFY20 on RM265.2 million worth of adjustments (including impairments and provisions). Revenue jumped 86% to RM453.3 million, from RM243.12 million in 2QFY20. The group sunk into the red from a net profit of RM15.29 million in 3QFY19, with revenue slumping 30% from RM644.49 million a year prior. For the nine-month period, the group saw a net loss of RM329.89 million compared with a net profit of RM54.72 million a year prior, while revenue halved to RM1.02 billion from RM2.09 billion.
•Omesti Bhd’s 51%-owned indirect subsidiary bagged a two-year contract to provide network equipment maintenance services for the Federal Court’s eCourts Phase 2 project. The contract is worth RM19.88 million.
•Top Glove Corp Bhd estimates revenue for its financial year ending Aug 31, 2021 (FY21) to only drop by 3%, following the temporary closures of its 28 factories in Klang due to the outbreak of Covid-19 in its worker dormitories. Sixteen of its facilities in Meru, Klang have temporarily stopped production since Nov 17. Each facility would be able to resume operations in stages, after the balance of employees are tested and the sites are sanitised. The balance 12 facilities are currently operating at about 20% capacity and will be temporarily closed in stages for employee testing and full-site sanitisation before reopening. The group noted that the 28 facilities in Meru represent 50% of its total production capacity.
