Latest news with #RM43mil
The Star
26-05-2025
- Business
- The Star
Tiong Nam sees positive outlook for FY2026
KUALA LUMPUR: Tiong Nam Logistics Holdings Bhd , which posted a fourfold increase in net profit for the fourth quarter ended March 31 (4Q25), expects a positive performance for FY2026, supported by Malaysia's resilient economic growth. 'As regional trade strengthens and supply chains recalibrate across Asia, we are well-positioned to serve as a vital connection in logistics networks,' managing director Ong Yoong Nyock said in a statement. The logistics solutions provider posted a net profit of RM43mil, or earnings per share of 8.15 sen compared with RM10.6mil, or 2.06 sen a year ago. Tiong Nam said the profit growth stemmed primarily from a positive fair value adjustment on investment properties, comprising its logistics warehousing assets. This was complemented by robust logistics and warehousing activity, contributing to an 18.2% rise in group revenue to RM228.7mil in 4Q25 from RM193.4mil previously. 'Our logistics and warehousing operations demonstrate sustained performance, supported by resilient demand and growing customer relationships. 'Our network development is integral to enhancing our capabilities and enabling increased scale to meet rising market needs for integrated logistics solutions. This initiative advances our position as a leading total logistics solutions provider, ensuring efficient supply chains nationwide,' Ong said. For the full year ended March 31, Tiong Nam's revenue grew 13.8% to RM863.6mil from RM758.6mil in FY24. Net profit for FY25 fell to RM41.5mil from RM57.3mil previously, mainly attributed to higher fair value gains recorded in the prior year compared to the current quarter under review. The results also reflect higher operating and finance costs associated with expanded warehouse assets,' it said.
The Star
21-05-2025
- Business
- The Star
PetChem dragged by O&D segment amid challenges
PETRONAS Chemicals managing director and chief executive officer Mazuin Ismail. PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) sustained its operational performance with a plant utilisation rate of 94% in the first quarter of 2025 (1Q25), but its bottomline was weighed down by its olefins and derivatives (O&D) segment amid a challenging market landscape. 'To maintain our resilience and competitiveness amid the current industry downtrun, we remain focused on driving excellence. 'Our unwavering comitment to safe and efficient operations across all facilities continues, as we are currently undertaking repair and maintenance activities at several O&D and fertilisers and methanol (F&M) plants,' said PetChem managing director and chief executive officer Mazuin Ismail. He added that the group is closely monitoring the developments with regards to the US tariffs, and assessing their broader implications on overall market dynamics. During the quarter under review, the petrochemicals group recorded a RM18mil net loss, on the back of a revenue of RM7.66bil, which compares to a net profit of RM668mil and revenue of RM7.5bil in the year-ago quarter. The group said in a statement the O&D business had been affected by a utilities supply disruption in Kertih as well as reduced production in Pengerang Petrochemicals Company Sdn Bhd (PPC) due to feedstock unavailability. The segment subsequently reported a loss before interest, tax, depreciation and amortisation of RM43mil, primarily owing to lower contributions from PPC – mainly due to a lower plant utilisation rate and unrealised foreign exchange loss on revaluation of payables. Meanwhile, the group's fertilisers and methanol (F&M) segment saw an improvement in sales and earnings due to stronger product prices, which offset a slight decline in sales volume. 'Tight global supply and robust seasonal demand led to an increase in prices of approximately 13% and 5% for urea and methanol, respectively.' The segment's quarterly revenue rose slightly to RM2.5bil while earnings before interest, tax, depreciation and amortisation (ebitda) gained 22% quarter-on-quarter (q-o-q) to RM892mil, driven by improved product spreads. In the specialities segment, revenue rose 19% (q-o-q) to RM1.6bil on higher sales volumes. Ebitda rose to RM52mil on stronger contribution margins and sales volume.
The Star
20-05-2025
- Business
- The Star
PETRONAS Chemicals dragged by O&D segment amid headwinds
KUALA LUMPUR: PETRONAS Chemicals Group sustained its operational performance with a plant utilisation rate of 94% in the first quarter of 2025 (1Q25), but its financial bottomline was weighed down by its olefins and derivatives (O&D) segment amid a challenging market landscape. "To maintain our resilience and competitiveness amid the current industry downtrun, we remain focused on driving excellence. "Our unwavering comitment to safe and efficient operations across all facilities continue as we are currently undertaking repair and maintenance activities at several O&D and fertilisers and methanol (F&M) plants," said PETRONAS Chemicals managing director and CEO Mazuin Ismail. He added that the group is closely monitoring the developments with regards to the US tariffs, and assessing their broader implications on overall market dynamics. During the quarter under review, the petrochemicals group recorded a RM18mil net loss, on the back of revenue of RM7.66mil, which compares to a net profit of RM668mil and revenue of RM7.5mil in the year-ago quarter. The group said in a statement the O&D business had been affected by a utilities supply disruption in Kertih as well as reduced production in Pengerang Petrochemicals Company Sdn Bhd (PPC) due to feedstock unavailability. "These external issues, combined with the limited uplift in product prices amid industry oversupply, resulted in the O&D segment recording a 4% decrease in quarterly revenue to RM3.5bil," it said. The segment subsequently reported a loss before interest, tax, depreciation and amortisation (LBITDA) of RM43mil, primarly owing to lower contributions from PPC - mainly due to lower plant utilisation rate and unrealised foreign exchange loss n revaluation of payables. Meanwhile, the group's fertilisers and methanol (F&M) segment saw an improvement in sales and earnings due to stronger product prices, which offset a slight decline in sales volume. "Tight global supply and robust seasonal demand lead to increase in prices of approximately 13% and 5% for urea and methanol, respectively." The segment's quarterly revenue rose slightly to RM2.5bil while earnings before interest, tax, depreciation and amortisation (Ebitda) gained 22% quarter-on-quarter (q-o-q) to RM892mil, driven by improved product spreads. In the specialities segment, revenue rose 19% (q-o-q) to RM1.6bil due to higher sales volumes. Ebitda improved to RM52mil on stronger contribution margins and increased sales volume.
