KUALA LUMPUR (Feb 24): Here is a brief recap of some corporate announcements that made the news on Friday.

Sime Darby Property Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023) rose 27.25% to RM131.26 million from RM103.15 million a year earlier, thanks to strong topline contributions and higher profit from the property development segment. Quarterly revenue increased 5.83% to RM1.01 billion from RM956.9 million a year earlier. It declared a second interim dividend of 1.5 sen per share, bringing total dividends for FY2023 to 2.5 sen per share. Full-year net profit jumped 29.15% to RM407.91 million from RM315.84 million for FY2022, as annual revenue expanded by 25.34% to RM3.44 billion from RM2.74 billion. It foresees a positive FY2024 evidenced by rising sales volumes, new property launches, successful completions, as well as positive government policies and incentives. — Sime Darby Property’s 4Q net profit rises 27%, unbilled sales of RM3.6b provide three-year earnings visibility

IOI Corp Bhd’s net profit for the second quarter ended Dec 31, 2023 (2QFY2024) shrank 52.9% year-on-year to RM335.4 million from RM712.1 million, mainly due to lower contribution from the resource-based manufacturing segment. Its revenue declined 27.46% to RM2.4 billion from RM3.3 billion in 2QFY2023. It declared a 4.5 sen dividend for the quarter. For the first half of FY2024, IOI’s net profit dropped 27.3% to RM639.4 million from RM879.6 million as revenue fell 34.01% to RM4.6 billion from RM6.97 billion. Looking ahead, IOI said CPO price is anticipated to increase moderately to levels close to or above RM4,000 a tonne in March and April due to the anticipation of higher palm oil consumption. — IOI Corp's 2Q profit down 53% to RM335.4 mil, declares 4.5 sen dividend 

Telekom Malaysia saw its net profit more than double in 4QFY2023 to RM433.53 million from RM160.18 million a year ago thanks to tax credits and higher data revenue as well as lower costs. Revenue for the quarter meanwhile rose 5% year-on-year to RM3.12 billion from RM2.98 billion, mainly from an increase in data, internet and multimedia services, and other telecommunication services. It declared a final dividend of 15.5 sen per share. For the full-year, net profit surged 64% to RM1.87 billion from RM1.14 billion thanks to lower net finance cost and recognition of tax credits from unutilised tax losses. For 2024, the company is targeting “low single-digit” growth in revenue and earnings before interest and tax of between RM2.1 billion and RM2.2 billion. — Telekom Malaysia 4Q net profit more than doubles as tax credit, lower costs help

Mi Technovation Bhd’s net profit for 4QFY2023 declined 30.36% to RM11.92 million, from RM 17.11 million a year earlier, mainly on lower utilisation rate. Revenue for 4QFY2023 slipped 17.53% to RM96.62 million from RM117.15 million previously. It declared a dividend of two sen per share. For FY2023, the group said its net profit dropped 19.83% to RM55.2 million from RM68.86 million in FY2022, as its margins were compressed by “huge" foreign exchange losses. Full-year revenue slipped 8.61% to RM355.96 million, from RM389.48 million previously. Looking to FY2024, the group remained positive on the semiconductor equipment business unit’s revenue contribution. — Mi Technovation’s 4Q net profit drops 30% on lower utilisation rate

Aeon Co (M) Bhd’s net profit rose 31% to RM32.58 million in 4QFY2023 from RM24.91 million a year earlier, thanks to higher occupancy rate, rental renewals and cost control. Quarterly revenue, however, slipped 2.68% to RM1.03 billion from RM1.06 billion, due to lower retail sales and a high base of comparison. For FY2023, its net profit increased by 3.24% to RM114.83 million from RM111.23 million. Revenue slipped 0.29% to RM4.13 billion from RM4.14 billion in the previous year, due to a high base of comparison last year and partial store closures for renovation. The group proposed a dividend of four sen per share for FY2023. The company raised concerns over upcoming subsidy rationalisation, hike in services tax, as well as introduction of high-value goods tax. — Aeon Co’s 4Q net profit climbs 31%, flags policy risks ahead

Greatech Technology Bhd’s net profit climbed 12.8% to RM41.55 million for 4QFY2023 from RM36.82 million, despite its revenue falling 8.6% to RM154.64 million from RM169.11 million, due to lower revenue recognised from its production line system. In FY2023, the group’s net profit climbed 17% to RM154.37 million, as compared to RM131.89 million a year ago, while its full-year revenue rose 20.6% to RM658.75 million from RM546.21 million a year earlier. Looking ahead, it is encouraged by the resilience and ongoing investment interest displayed by its global customers, particularly within the life science, e-mobility and solar industries. — Greatech posts record profit in FY2023, sees sustained momentum this year

Malakoff Corp Bhd turned to a net loss of RM357.1 million in 4QFY2023 from a net profit of RM41.9 million last year, dragged by the group’s independent water and power producer (IWPP) associate in Bahrain. Quarterly revenue fell 23.89% to RM2.26 billion, from RM2.97 billion, due to lower energy payment for the Tanjung Bin Power power plant, as well as an absence of revenue from GB3 whose power purchase agreement expired on Dec 30, 2022. For FY2023, Malakoff reported a net loss of RM884.36 million, compared with a net profit of RM255.03 million in FY2022, on the back of 12.4% lower revenue of RM9.07 billion. It said it is actively participating in competitive bids for solar projects initiated by the government while remaining open to potential mergers and acquisitions in the waste management and environmental solutions sector. — Malakoff books FY23 loss despite more power produced, 4Q in the red again

Matrix Concepts Holdings Bhd’s net profit logged a 5.27% rise in its third quarter ended Dec 31, 2023 (3QFY2024) to RM57.24 million from RM54.37 million a year earlier, as gross profit margin improved due to changes in the product mix. Revenue, meanwhile, declined 18.64% to RM295.98 million from RM363.81 million previously, despite the absence of revenue contribution from the group’s Australian and Klang Valley property development activities. For 9MFY2024, Matrix’s net profit grew 22.3% to RM185.87 million from RM151.98 million, as revenue expanded 21.01% to RM986.76 million from RM815.42 million a year earlier. Moving forward, Matrix said its acquisition of the 1,382-acre land parcel within the Malaysian Vision Valley corridor will not only position the group to cater to the thriving housing demand in Seremban but also capture the spillover effect from buyers seeking alternatives to the Klang Valley market. — Better margin lifts Matrix’s 3Q profit, declares 2.5 sen dividend 

Sports Toto Bhd’s net profit shrank 63% to RM24.22 million in 2QFY2024 from RM64.86 million in 2QFY2023, due to lower sales at both its lottery and luxury car businesses, as well as higher operating costs. Revenue for the quarter slipped 2.85% year-on-year to RM1.37 billion from RM1.41 billion. It declared a dividend of two sen per share. For 6MFY2024, Sports Toto’s net profit dropped 38.12% to RM84.38 million from RM136.35 million in the same period a year ago. Half-year topline rose 4.8% to RM2.96 billion from RM2.83 billion previously. The company remained optimistic about its sales growth but noted that the closure of outlets in Kedah and Perlis due to state government policy will lead to the encroachment of illegal operators. — Sports Toto’s 2Q net profit plummets 63% on lower sales, higher costs

SAM Engineering & Equipment (M) Bhd posted a 52.81% increase in its net profit for 3QFY2024 to RM29.32 million, from RM19.19 million a year earlier, thanks to higher profit contribution from both its equipment and aerospace segments. Quarterly revenue grew 11.54% to RM387.28 million from RM347.21 million in 3QFY2023, on increased sales and forex gains. For 9MFY2024, SAM Engineering’s net profit rose 18.41% to RM82.48 million as compared with RM69.66 million in 9MFY2023, as revenue increased slightly by 1.45% to RM1.12 billion from RM1.11 billion. On its outlook, the group noted that the semiconductor equipment industry is witnessing a recovery in sales, however, the fabrication utilisation was low at about 70% in the second half of 2023. — SAM Engineering profit comes off peak in 3Q, sees delayed chip sector recovery