Media Chinese gives profit warning
Media Chinese International Ltd (MCIL) has given a profit warning it may record a net loss for the financial year ended on March 31, 2019 (FY19) due to a provision for the impairment of goodwill of US$15 million in relation to a business unit of the group, its exchange filing yesterday stated.
Dialog profit rises despite weaker topline
Dialog Group Bhd posted 20.9% year-on-year (YoY) rise in net profit to RM143.71 million for its third financial quarter ended on March 31, on cost savings realised on completed projects and increase in profit share in joint ventures and associates. Revenue for the period fell to RM636.6 million versus RM867.4 million booked for the same period a year ago due to lower contributions from its local and overseas businesses, it exchange filing yesterday noted. Earnings per share for the period was 2.55 sen and the company will pay an interim cash dividend of 1.50 sen share by June 27, 2019.
Tan Chong 1Q earnings boosted by new launches
Tan Chong Group Motor Holdings Bhd posted a net profit of RM15.98 million for the first quarter ended March 31, 2019, on higher volume and sales arising from launch of new models in Malaysia and overseas market. For the first three months ended March 31, Tan Chong posted a revenue of RM1.08 billion, a 4.4% rise year-on-year on higher sales. Its automotive division, which distributes the Nissan brand, recorded a revenue of RM1.05 billion and a 43% YoY jump pretax earning to RM69.2 million.
YFG uniT bags sewerage works contract worth RM40m
YFG Bhd’s wholly-owned subsidiary, YFG Engineering Sdn Bhd, has accepted a contract to undertake sewerage works for Kencana Amanjaya Sdn Bhd worth RM40 million. In a filing with Bursa Malaysia yesterday, YFG noted the project involves works on external sewerage and sewerage treatment plant, water reticulation, street lighting, telephone services and building mechanical and electrical services. The project will commence on May 30 and is slated for completion within two years. The contract is for the proposed construction of 978 terrace units and 146 semi-detached houses units on Lot 8094, Mukim Penor located in Kuantan, Pahang.
YNH proposes raising RM750m
YNH Property Bhd has lodged the Perpetual Securities Programme with the Securities Commission (SC) to issue securities not exceeding RM750 million at a time. The company told Bursa Malaysia yesterday it intends to use the net proceeds for investments, capital expenditure, working capital, borrowings’ repayment, financing facilities and banking facilities. CIMB Investment Bank Bhd is the sole principal adviser, lead arranger and lead manager for the securities programme.