BUSINESS

NEWS IN BRIEF: SEPT 12, 2022

12/09/2022 09:12 PM

BERMAZ AUTO BHD’s (BAuto) net profit jumped almost fivefold to RM50.16 million in the first quarter ended July 31, 2022, from RM10.27 million a year earlier on higher sales volume as consumers rushed to register their vehicles before the expiry of the sales tax exemption incentive period on June 30, 2022.

The distributor and retailer of Mazda, Peugeot and Kia vehicles said revenue surged 123 per cent year-on-year to RM716.87 million from RM320.79 million previously.

In a filing with Bursa Malaysia today, the company also attributed the improved results to the positive contribution from 30 per cent-owned Mazda vehicle assembler Mazda Malaysia Sdn Bhd and the strengthening of the ringgit against the Japanese yen.

BAuto’s board of directors has declared a first interim dividend of 3 sen per share versus 0.5 sen in the preceding year's corresponding quarter.

-- BERNAMA   

 

TDM BHD’s wholly-owned subsidiary TDM Plantation Sdn Bhd, which manages oil palm estates in Malaysia and Indonesia, has issued two letters of award to East Cost Fertilizer Sdn Bhd (ECFSB) for the purchase of fertilisers worth RM12.88 million.

This comprises 1,120 tonnes of fertiliser Compound 38 valued at just over RM3 million and 3,380 tonnes of Compound 33 worth RM9.87 million, it said in a filing with Bursa Malaysia today.

ECSFB is 51 per cent owned by Menteri Besar, Terengganu (Inc), the parent of TDM’s substantial shareholder Terengganu Incorporated Sdn Bhd. 

-- BERNAMA

 

UZMA BHD, through wholly-owned subsidiary Uzma Engineering Sdn Bhd, has secured a RM17 million contract from Petronas Carigali Sdn Bhd for the provision of lightweight hydraulic workover unit (HWU).

The scope of work comprises integrated HWU services for Petronas Carigali’s well abandonment campaign, involving two wells, at offshore East Malaysia, Uzma announced to the stock exchange today.

Work is expected to begin in September 2022 and be completed the following month, it added.

-- BERNAMA 

 

TECHNOLOGY DEPOSITORY AGENCY BHD (TDA), an agency under the Finance Ministry, said more than RM10 million worth of value-add has been generated through the Industrial Collaboration Programme (ICP) following the procurement of 2,000-megawatt (two 1,000 MW units) ultra supercritical coal-fired power plant involving programme provider Toshiba Energy Systems & Solution Corporation (TESSC).

The ICP programme on the 3B Power Plant Project in Negeri Sembilan consisted of technology transfer from TESSC in an effort to develop local expertise through simulator training at the Tuanku Muhriz Power Plant, it said in a statement today.

“TESSC was required to facilitate the supply of the simulator, transfer of technology and knowledge, and capacity building training to local universities and training institutes,” the agency said.

-- BERNAMA 

 

PROLEXUS BHD has inked a memorandum of understanding with Sirim Bhd to cooperate on research and development (R&D) projects including for waste materials, such as textiles generated from the production line.

The apparel maker said the two companies also plan to explore the application of alternative energy including hybrid solar photovoltaics and battery storage systems, .

In a statement today, Prolexus said its collaboration with Sirim will focus on three pillars, namely the risk management, environmental, social and governance (ESG) and the group’s R&D initiatives.

It added that the solar-related initiatives can potentially deliver cost-savings on electricity cost.

-- BERNAMA 

 

 

 

 

 


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