Business & Markets 2014
Written by Shalini Kumar of theedgemalaysia.com
Tuesday, 22 July 2014 20:17
KUALA LUMPUR (July 22): Maxis Bhd reported a 16% fall in second quarter net profit from a year earlier as less voice and sms usage dragged the mobile telecommunication network operator's revenue lower.
Higher administrative, network operation, and finance expenses had also curbed profit, Maxis announced to Bursa Malaysia today. Maxis said net profit fell to RM446 million in the second quarter ended June 30, 2014 (2QFY14) from RM528 million.
Revenue declined to RM2.08 billion from RM2.29 billion. Despite posting lower profit, Maxis plans to pay a dividend of eight sen a share for 2QFY14.
Cumulative first-half net profit dropped to RM930 million from RM1 billion a year earlier. Revenue was lower at RM4.2 bllion versus RM4.62 billion.
EITA Resources Bhd's unit EITA Elevator (M) Sdn Bhd has won a RM15.3 million contract from Mass Rapid Transit Corp Sdn Bhd.
The contract for the Klang Valley's Sungai Buloh-Kajang line involves the supply, procurement, installation, testing and commissioning of the lift system for all MRT underground stations and ancillary buildings.
Talam Transform Bhd has submitted four new property development plans to the Selangor state authorities and plans to launch RM2 billion to RM3 billion worth of projects next year.
The group's executive director Chua Kim Lan said the group will develop a total of 400ha (1,000 acres) of land without having to seek joint venture partners.
Of the 400ha, a 120 ha (300 acre) portion in Putra Perdana, Ulu Klang and Selayang have been earmarked for residential properties. The remaining land in Bukit Beruntung will be developed into an industrial park.
Tenaga Nasional Bhd has inked a power purchase agreement with Jimah East Power Sdn Bhd, jointly owned by 1Malaysia Development Berhad (1MDB) and Mitsui & Co. Ltd. for the proposed construction, operation and maintenance of the 2,000 MW coal-fired plant known as Track 3B.
The RM11 billion coal-fired plant is proposed to be located in Jimah, Port Dickson.
Jimah East also executed a coal supply & transportation agreement with TNB Fuel Services Sdn Bhd to govern the supply of coal to the plant.
British American Tobacco (M) Bhd’s (BAT) net profit climbed 18% to RM248.10 million for its second financial quarter ended June 30, 2014, from RM210.82 million in the preceding year’s corresponding quarter.
Revenue for the quarter rose 6% year-on-year (y-o-y) to RM1.23 billion from RM1.16 billion.
The group declared a second interim dividend payment of 78 sen per share for the financial year ending Dec 31, 2014.
For the six-month period to June 30, BAT’s net profit rose 14% to RM473.49 million from RM415.03 million the year before, while cumulative revenue increased 6% to RM2.38 billion from RM2.25 billion.