Compared with the immediate preceding quarter of 3QFY21, Sarawak Oil Palms' net profit rose 66.03% from RM125.49 million, while revenue climbed 7.11% from RM1.3 billion. The group said the quarter-on-quarter earnings increase was also due to palm products' higher average realised prices, as it noted that 4QFY21's average realised price of palm oil products stood at RM5,468 per metric tonne (3QFY21: RM4,490), while palm kernel products' average realised price was RM4,272 (3QFY21: RM2,919). For the full FY21, Sarawak Oil Palms reported a 150.45% jump in net profit to RM511.21 million from RM204.12 million in FY20, again mainly due to palm oil products' higher average realised prices, despite an 8% drop in fresh fruit bunch (FFB) production because of labour shortages. Going forward, Sarawak Oil Palms said the group's performance will continue to be driven by FFB production and palm products' price movements. Sarawak Oil Palms' shares closed 11 sen or 2.09% higher at RM5.37 on Thursday, giving the group a market capitalisation of RM3.07 billion.

KUALA LUMPUR (Feb 24): Pentamaster Corp Bhd said Thursday its net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) fell 10.95% to RM19.65 million from RM22.07 million a year ago, despite stronger revenue growth. The group’s quarterly revenue grew 11.13% to RM122.49 million from RM110.22 million a year ago, its filing with Bursa Malaysia showed. Earnings per share contracted to 2.76 sen in 4QFY21 versus 3.1 sen a year ago. As for the financial year ended Dec 31, 2021 (FY21), the group’s annual net profit went up 2.52% to RM72.67 million from RM70.89 million a year earlier, as its revenue increased by 21.4% to RM508.39 million from RM418.77 million. The company recommended a final single-tier dividend of two sen for the quarter under review, amounting to approximately RM14.2 million in respect of FY21.

Revenue for the quarter under review climbed 58% to RM64.26 million compared with RM40.6 million in the same quarter last year. QES declared a final dividend of 0.4 sen per share to be paid on March 31, 2022. For the full year ended Dec 31, the group's cumulative net profit rose 119% to RM18.98 million from RM8.66 million in the previous year. Through its subsidiaries, QES is principally involved in the manufacturing, distribution and provision of engineering services for inspection, test, measuring, analytical and automated handling equipment. QES shares closed up one sen or 2% at 51 sen, with a market capitalisation of RM421.4 million.

KUALA LUMPUR (Feb 23): Tenaga Nasional Bhd (TNB) has installed over 1.8 million smart meters in the Klang Valley and Melaka in an effort to improve services to its consumers. "Thanks to consumers in Kuala Lumpur, Putrajaya, Selangor and Melaka who gave us their cooperation that we managed to install more than 1.8 million smart meters. Baharin said the installation of smart meters was one of its "Grid of the Future" initiatives, i.e., TNB needed to reinvest RM9 billion to RM10 billion annually to modernise the national grid. The “Grid of the Future" programme adopts smart, automated and digital technologies to ensure maximum efficiency, reliability and sustainability while supporting future energy sustainability," he said. TNB began installing smart meters four years ago in Melaka and its installation will be expanded in the peninsula in stages so that 9.1 million consumers will have the smart meters by 2026.

Meanwhile, Lagenda noted that its property development segment’s revenue increased 5.52% to RM210.26 million in the current quarter under review from RM199.27 million. “The increase in revenue generated from property development was mainly due to the acquisition of a property development subsidiary namely Mexitanah Sdn Bhd which was completed during the preceding quarter,” it said. The group declared a second interim dividend of 3.5 sen per share, to be paid on April 11, with an ex-date of March 24. For the full year (FY21), Lagenda posted a 42.29% increase in net profit to RM200.49 million from RM140.9 million as its revenue improved by 20.02% to RM835.55 million from RM696.15 million. Lagenda’s share price closed three sen or 2.03% lower at RM1.45, giving the group a market capitalisation of RM1.21 billion.

Among big caps, Press Metal Aluminium Holdings Bhd rose 5 sen or 0.75% to RM6.70. However, revenue rose 12.62% q-o-q to RM110.04 million, from RM97.71 million. Outlook improvesIn the steel industry, prices of iron ore and coking coal have rebounded by around 60% from its November 2021 low. This year alone, the SGX TSI iron ore futures rose 14% at US$138.15/mt. Fitch Solutions on Feb 21 has sharply revised upwards its iron ore price forecasts for this year to US$120/tonne from US$90/tonne previously.

KUALA LUMPUR (Feb 21): The Malaysia Digital Economy Week at Expo 2020 Dubai has garnered RM1.295 billion worth of qualified trade and investments to Malaysia derived from 110 business leads, 138 business matchings and 16 memorandums of understanding (MoUs). Annuar added that the qualified trade and investments represents a massive step towards realising the goals of the Malaysia Digital Economy Blueprint (MyDIGITAL), which targets RM70 billion in digital investments by 2025. The delegation was led by the Malaysian Communications and Multimedia Ministry, together with Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency. Malaysia Digital is set to boost Malaysia’s value proposition to attract digital investments through a new framework centred on three primary components — Agility, Flexibility and Relevance. MDEC said the government and the agency will also be introducing two initial catalytic projects, namely, DE Rantau and Malaysia Digital Trade under the initiative.

KUALA LUMPUR (Feb 21): KPower Bhd, in a consortium with a China company, has bagged a RM70 million contract to undertake engineering, design, procurement, construction, and commissioning (EPCC) works of small hydro power plants in Kota Marudu, Sabah. ORP, a subsidiary of OHP Ventures Sdn Bhd, was established to undertake the development of the project. Tellhow International Engineering & Contracting is a subsidiary of Shanghai-listed Tellhow Sci-Tech Co Ltd. In a separate statement, KPower said the project is 80% complete, with one site certified to achieve the stipulated commercial operation date by the Sustainable Energy Development Authority. At 2.42pm, KPower shares were up 4.5 sen or 8.33% at 58 sen, valuing it at RM320.25 million.

Malaysia Healthcare recently showcased the quality and experience the nation has to offer as a safe and trusted destination for healthcare. During the five-day expo, leaders from various segments of the healthcare travel value chain, including healthcare, pharmaceuticals, facilitators, technology solution providers and policy makers, joined Malaysia Healthcare and participated in multiple networking opportunities, sealing multiple partnerships with value chain stakeholders. Malaysia Healthcare is moving fast towards establishing a digital framework to enhance the delivery of healthcare services and experiences. Malaysia Healthcare is inviting healthcare travellers to Experience Malaysia Healthcare once again, facilitated by our stringent SOPs and dedication to exemplifying patient safety and experience. To begin planning your healthcare journey, please visit www.malaysiahealthcare.orgwww.malaysiahealthcare.org | Malaysia Healthcare | Malaysia Healthcare Travel Council | #experienceMalaysiaHealthcare

Hence, it was not a surprise when the headline "South Korea's Kimchi Exports Hit New High in 2021" appeared on the news feed recently. In Malaysia, such dominance of influence is also apparent, what more with so much more exposure of South Korean entertainment on Netflix in the domestic market. World Kimchi Institute research group leader Dr Lee Chang Hyeon told Bernama that South Korea's kimchi exports have steadily increased over the past five years. "If there are more than 100 countries importing Korean kimchi, we will continue to expect a trade surplus due to the increase in kimchi exports. In the quest to build trust in Korean kimchi, the National Geographical Indication System has been in force since 2021 that allows Korean kimchi manufacturers to officially mark and use the name "Republic of Korea" for kimchi made from Korean ingredients.

“Should this be achieved, it would set a historical high for annual commercial real estate transaction volume in the region,” says the firm. Investors from Singapore, Australia and South Korea displayed the strongest intention to purchase real estate in the region. Moreover, banks in the region remain accommodative towards lending for commercial real estate acquisitions while continuing to closely monitor residential lending to avoid overheating. Despite the ongoing pandemic-related uncertainty and aggressive pricing for well-located high-quality assets, investors are still seeking higher returns. Compared with 2021, more investors expect office demand to increase slightly (+10%) over the next three to five years.

KUALA LUMPUR: The Ministry of Finance (MoF) has allocated RM1.7 billion for the Malaysia Short-term Employment Programme (MySTEP), with the target of creating 80,000 jobs this year. Minister Tengku Datuk Seri Zafrul Abdul Aziz said the jobs could be applied online at http://www.mystep.mof.gov.my/. "Nearly 560,000 jobs were created in 2021 against the initial target of 500,000," he added. Meanwhile, Tengku Zafrul said according to the latest report published by the International Labour Organisation, the global unemployment rate is expected to remain at 207 million persons this year, compared to 186 million in 2019. "In this regard, the government's policies are aimed at avoiding long-term effects on the labour market, household income, and social cohesion.

CRUDE palm oil (CPO) prices are likely to remain elevated in the first half of 2022 before potentially falling in the second half. Mohd Haris adds that the group does not foresee palm oil production in Malaysia improving significantly in 2022, compared with 2021. We should be looking at CPO prices ranging between RM5,000 to RM5,500 per tonne in the first half,” he says. It has come to a point where prices are so painful, that demand may just collapse and then, the prices will correct. He also points out that biodiesel mandates is another factor behind elevated CPO prices.

KUALA LUMPUR (Feb 19): The Ministry of Finance (MoF) has allocated RM1.7 billion for the Malaysia Short-term Employment Programme (MySTEP), with a target of creating 80,000 jobs this year. Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the jobs could be applied online at http://www.mystep.mof.gov.my/. Through the JaminKerja initiative, the government pursues the spirit of the job guarantee concept, he said. Meanwhile, Tengku Zafrul said according to the latest report published by the International Labour Organization, the global unemployment rate is expected to remain at 207 million persons this year, compared with 186 million in 2019. Read also:JaminKerja initiative manifestation of govt's commitment to creating 600,000 jobs this year — PMGovt holding engagement sessions on RM1,500 minimum wage — PM

SINGAPORE (Feb 18): Oiltek International, a subsidiary of Koh Brothers Eco Engineering, has launched its Catalist initial public offering (IPO) to raise gross proceeds of some S$5.2 million. The issue consists of 22.5 million new shares priced at 23 (Singaporean) cents each. Out of which, 22 million shares are set aside for the placement tranche, with...(click on link for full story on theedgesingapore.com)