NEWS IN BRIEF : JAN 27, 2022

CHIN TECK PLANTATIONS BHD's net profit rose to RM27.48 million in the first quarter (Q1) ended Nov 30, 2021, compared with RM15.78 million in the same quarter of the preceding year.

Revenue improved to RM58.20 million from RM45.41 million previously, it said in a filing with Bursa Malaysia today.

"The revenue improved 28.18 per cent from a year ago due to significant increases in the average selling prices of fresh fruit bunches, crude palm oil, and palm kernel even though the sales volume decreased.

"Overall, profit net of tax improved by 74.26 per cent mainly due to significant improvement in revenue," it said.

-- BERNAMA

NOTION VTEC BHD has submitted a total claim of RM8.13 million to its insurer for damages it suffered due to the floods in December of last year.

“Claim under the business interruption loss arising from the flood incident has yet to be determined,” it said in a filing with Bursa Malaysia.

“Nonetheless, the flood incident is not expected to have any material impact operationally to the group,” it added.

-- BERNAMA

PAVILION REIT MANAGEMENT SDN BHD said it is determined to remain resilient and is committed to driving performance and creating long term value to its stakeholders.

Chief executive officer Datuk Philip Ho said Pavilion REIT will continue to improve its performance and support its tenants by sustaining healthy occupancy levels through proactive lease management and leveraging on digital and media presence to draw visitors to its malls. 

In a filing to Bursa Malaysia, Pavilion REIT announced revenue of RM124.3 million for the fourth quarter ended Dec 31, 2021, a decrease of 5.0 per cent compared to the same quarter in the preceding year.

Total revenue for the year was RM488.6 million, lower by RM21.6 million, or 4.2 per cent, compared to 2020.

-- BERNAMA