Trading ideas: FGV, Mitrajaya, IJM, Velesto, Advancecon, DLMI, Paramount, Allianz, PetDag, Gas, TIME, Oriental Kopi, Hibiscus
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
FGV Holdings Bhd plans to take greater control of eight subsidiaries from Koperasi Permodalan Felda Malaysia Bhd in deals worth RM229.8mn combined.
Mitrajaya Holdings Bhd 's wholly-owned subsidiary, Pembinaan Mitrajaya Sdn Bhd, has secured a RM70mn contract for the construction of the main building and associated works for an eight-storey serviced apartment in Langkawi, Kedah
IJM Corp Bhd has received approval from the Ministry of Works for the New Pantai Highway Extension that will cost RM1.4bn for the 15km and toll restructuring for the existing highway.
Velesto Energy Bhd secured a new drilling contract from PC Ketapang II Ltd, PC North Madura II Ltd, and PETRONAS North Ketapang Sdn Bhd for its NAGA 8 jack-up rig in Indonesia.
Advancecon Holdings Bhd 's unit Advancecon Infra Sdn Bhd secured a RM68.5mn contract from Sime Darby Property (Lagong) Sdn Bhd for earthworks and ancillary works in Stage 1 of the Lagong Mas development in Gombak, Selangor.
Dutch Lady Milk Industries Bhd remains cautiously optimistic about growth in 2025, despite input cost pressures and evolving regulatory challenges.
Paramount Corp Bhd posted a net profit of RM14.4mn, up from RM7.7mn in the same quarter last year as revenue jumped 26.2% YoY to RM217.8mn, driven by improvement in its property segment.
Allianz Malaysia Bhd 's net profit rose 11.5% to RM211.7mn in 1QFY25 from RM189.8mn a year earlier, supported by higher profit from both insurance segments.
Petronas Dagangan Bhd 's net profit rose 29.8% to RM293.5mn in 1QFY25 from RM226mn a year ago, driven by lower expenditure and higher other income.
Gas Malaysia Bhd saw a 2.4% drop in net profit to RM100.1mn in 1QFY25 from RM102.6mn, due to lower average gas contribution margin, higher admin and finance costs.
TIME Dotcom Bhd recorded a higher net profit of RM113mn in 1QFY25, up from RM110.7mn a year earlier as revenue rose 2.6% to RM428.6mn from RM417.8mn, supported by sustained demand for data and connectivity solutions.
Oriental Kopi Holdings Bhd posted RM13.8mn net profit in 2QFY25 with revenue of RM103.2mn, mainly from its café operations with 93.5% of total, followed by packaged goods of 6.2%.
Hibiscus Petroleum Bhd posted a net loss of RM116mn or loss of 15.4 sen per share in 3QFY25 due to a one-off, non-cash deferred tax liability of RM167.3mn related to the UK's Energy Profits Levy.
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The Star
28-05-2025
- The Star
FGV's 1Q earnings bolstered by higher FFB yields, price
KUALA LUMPUR: FGV Holdings Bhd 's performance in the first quarter of 2025 (1QFY25) was buoyed by the contribution of its plantations division, which benefited from increases in fresh fruit bunch (FFB) yield and price. "We are encouraged by the improved 1Q FY2025 results, particularly the consistent performance of our plantation division. "A steady growth compared to same quarter last year, reflects the resilience of our operations and the positive impacts of our ongoing agronomic improvements," said group CEO Fakhrunniam Othman in a statement. In 1QFY25, FGV's bottomline turned positive with a net profit of RM36.48mil as compared to a net loss of RM13.49mil in the year-ago quarter. The group posted an earnings per share of one sen as compared to a loss per share of 0.37 sen in the comparative quarter. Revenue during the quarter under review rose to RM5.04bil from RM4.54bil previously. According to FGV, the plantations division posted a strong turnaround during the quarter, with a profit of RM50.67mil compared to a loss of RM62.14mil in the same quarter in 2024. The improvement was driven by a 5% increase in FFB production to 770,000 tonnes (MT), resulting in a higher FFB yield of 3.05MT per hectare. There was also a 24% increase in FFB price, which reached RM974 per MT, although the oil extraction rate declined to 19.94% from 20.59% in the same quarter in 2024. The division's performance was further supported by stronger contributions from the R&D segment, particularly the fertiliser business, which recorded stronger margins and higher sales volume. However, these gains were partially offset by a higher fair value charge on the land lease agreement, which increased to RM115.91mil from RM86.04mil in the same period last year. The group's other divisions did not fare as well during the quarter. The oils and fats division reported a loss of RM11.57mil due a lower margin in the bulk commodities segment and reduced processed palm oil (PPO) delivery volumes. In the logistics and support division, there was a slightly lower net profit of RM32.47mil, driven by lower tonnage handled in the logistics segment, although this was partially offset by higher profit in the IT segment. The sugar division posted a lower profit of RM11.46mil against RM67.17mil in the same quarter last year due to reduced margin, lower sales volume and decreased capacity utilisation, despite a reduction in production costs The consumer products division narrowed its losses to RM6.09mil from RM8.75mil in the corresponding quarter of the previous year, supported by better margins in the consumer products segment and lower losses in the integrated farming and dairy segments. Moving forward, FGV said CPO prices are expected to ease from RM4,700 per MT to about RM4,000 per MT in the coming months as supply improves with favourable weather, seasonally higher cropping cycles, and the absence of festive-related demand. The group said it will continue enhancing yields, extracting greater value from existing assets and expanding its footprint in the domestic consumer market. Over the longer term, FGV is advancing portfolio diversification through high-value fast-moving consumer goods (FMCG) and international market penetration. "Our core priority is to deliver sustainable shareholder value while navigating a complex external environment. Global headwinds including rising trade tensions, the introduction of new tariffs, and slower-than-expected biodiesel demand may weigh on commodity sentiment. "However, FGV's diversified operations, strong plantation fundamentals and commitment to integrated value creation position us well to withstand volatility and unlock long-term growth," said Fakhrunniam.
New Straits Times
28-05-2025
- New Straits Times
FGV posts RM36.5mil Q1 profit on stronger CPO prices
KUALA LUMPUR: FGV Holdings Bhd returned to profitability in the first quarter ended March 31, 2025 (Q1 FY25). The company posted a net profit of RM36.5 million compared to a net loss of RM13.5 million in the same period last year, lifted by higher crude palm oil (CPO) prices. Its revenue rose 10.8 per cent to RM5 billion for the period from RM4.5 billion previously, driven by a higher average crude palm oil (CPO) price. FGV said the average crude palm oil (CPO) price realised for the quarter was RM4,784 per tonne, higher than RM3,907 per tonne last year. In a statement, the company said the plantation division remained the main revenue contributor, supported by a six per cent improvement in fresh fruit bunch (FFB) yield and a 24 per cent increase in FFB price. Despite the current higher CPO price of about RM4,700 per tonne, FGV expects the price to ease to around RM4,000 per tonne in the coming months, as supply improves with favourable weather, seasonally higher cropping cycles and the absence of festive-related demand. Group chief executive officer Fakhrunniam Othman said the steady growth compared to the same quarter last year reflects the resilience of operations and the positive impacts of ongoing agronomic improvements. "While challenges persist across several business segments, we are focused on driving operational efficiency, unlocking value from underperforming assets and further enhancing integration across the group to ensure long-term, sustainable growth across plantation, oils and fats, sugar, logistics and support and the consumer products divisions," he added.
The Star
27-05-2025
- The Star
Velesto's 1Q net profit jumps to RM52.61mil on higher charter rates
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