NEWS IN BRIEF: NOV 18, 2021

THONG GUAN INDUSTRIES BHD’s net profit for the third quarter ended Sept 30, 2021 rose to RM22.38 million from RM19.60 million registered in the same quarter a year ago.

Revenue for the quarter increased to RM296.83 million from RM245.79 million previously, mainly due to the overall increase in sales of beverage products, it said in a filing with Bursa Malaysia.    

“The board of directors has proposed an interim dividend of 1.25 sen per ordinary share for the current quarter ended Sept 30, 2021, payable on Jan 19, 2022 to the shareholders registered at the close of business on Dec 31, 2021,” it said. 

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-- BERNAMA

TASHIN HOLDINGS BHD’s net profit for the third quarter ended Sept 30, 2021 jumped to RM20.82 million from RM2.30 million registered in the same quarter last year.  

Revenue rose to RM97.71 million from RM69.13 million previously, mainly due to the significant increase in steel price, it said in a filing with Bursa Malaysia.

“The gradual reopening of the economy and resumption of business activities have contributed to better revenue for the Group. However, the steel industry remained highly competitive and profit margin for the coming quarters are sensitive to global steel price movement.

“The Board is cautiously optimistic that the Group’s prospects for the coming quarter will remain positive and satisfactory,” it said.

The company has declared a first single-tier interim dividend of 2.0 sen per ordinary share amounting to RM6.98 million in respect of the financial year ending Dec 31, 2021.

The entitlement date and payment date are on Dec 3, 2021 and Dec 16, 2021 respectively.

-- BERNAMA

The SELANGOR state government has launched the Selangor Managed Industrial Park (MIP) Standard Guidelines, a joint publication between Invest Selangor and Plan Malaysia for the management of industrial areas.

In a statement today, Invest Selangor Bhd said the future industrial parks will be managed efficiently with new features to provide better services to companies setting up manufacturing plants in Selangor.

“Special economic zones have been designated to industrial parks and areas to promote industrial activity. Industrial parks will become an essential part of Selangor’s manufacturing related investment strategies,” it said. 

The launch was officiated by Selangor Menteri Besar Datuk Seri Amirudin Shari in conjunction with the Selangor Industrial Park Expo (SPARK) 2021, at the Kuala Lumpur Convention Centre. 

-- BERNAMA