News in brief: Nov 24, 2021

BERJAYA LAND BHD's net loss widened to RM74.3 million in the first quarter ended Sept 30, 2021 (Q1 FY2022) from RM41.88 million net loss in the same period the last financial year.

Revenue also shrank to RM963.04 million from RM1.46 billion previously.

In a filing with Bursa Malaysia, the company said the lower revenue was mainly due to the gaming business segment operated by Sports Toto Malaysia Sdn Bhd.

-- BERNAMA

UEM SUNRISE BHD's net loss widened to RM50.38 million in the third quarter ended Sept 30, 2021 (Q3 FY2021) from RM25.41 million net loss in the same period last year.

In a filing with Bursa Malaysia, revenue marginally drop to RM213.04 million from RM217.44 million previously.

In a separate statement, the company said revenue for the first nine months of RM715 million as of Sept 30, 2021 was up by 36 per cent compared to the first nine months of 2020 supported by local property development activities.

-- BERNAMA

MALAYSIAN PACIFIC INDUSTRIES BHD's net profit for the first quarter ended Sept 30, 2021 (Q1 FY2022) rose to RM81.68 million from RM55.31 million recorded in the same quarter the last financial year.

Revenue increased to RM584.53 million with the Asia, US and Europe segments growing by 30 per cent, 31 per cent and 43 per cent respectively against the corresponding quarter of the last financial year of RM440.6 million.

In a filing with Bursa Malaysia, the company said it has declared a first interim single tier dividend of 10 sen per share for the quarter ended Sept 30, 2021 of the financial year ending June 30, 2022.

-- BERNAMA

RAPID SYNERGY BHD has announced its wholly-owned subsidiary Rapid Mall Sdn Bhd has completed the proposed disposal of freehold land at Pekan Bukit Kepayang, Negeri Sembilan on Nov 24, 2021 following receipt of payment by Careplus Properties Sdn Bhd of the balance of the sale consideration amounting to RM31.95 million for the property.

In a filing with Bursa Malaysia, the company said the proposed disposal of 40,680 square metres in area together with a purpose-built single-storey retail complex with mezzanine floor erected thereon and bearing postal address at Tesco Extra-Makro Seremban is worth RM35.5 million.

-- BERNAMA

TECHNA-X BHD together with the remaining owners of its energy storage subsidiary (50 per cent owned) HK Aerospace Beidou New Energy Technology Co Ltd (HKAB) has entered into a binding term sheet with SGX listed Chaswood Resources Holdings Ltd to sell 100 per cent of HKAB for US$500 million.

"This exercise will allow the energy storage business to raise its own capital which is needed for an accelerated expansion and R&D development which will allow Techna-X to focus its resources on the Digital Transformation potential,” said its executive director Datuk Jared Lim.

HKAB currently has an existing order book of approximately US$300 million from customers comprising some notable multinational corporations including KONE, Daikin Electronics, Tuatara Machinery and others.

-- BERNAMA