CORP BRIEF: Datasonic, UOA Development and Press Metal

By TMR / Pic by TMR FILEPIX

Datasonic’s earnings  plunge in 3Q21

DATASONIC Group Bhd narrowed its net loss to RM627,000 in the third quarter ended Dec 31, 2020 (3Q21), versus RM20.18 million it made in the corresponding period last year mainly due to lower supply of passports provided as a result of the Covid-19 pandemic and international travel restrictions. In a filing to the stock exchange yesterday, the company noted quarterly revenue declined 60.72% year-on-year (YoY) to RM29.45 million from RM74.97 million previously, primarily attributed to the aforementioned factors. For the cumulative nine-month period (9M21), its net profit declined by 73% YoY to RM12.93 million from RM48.05 million in the corresponding 9M of the previous financial year. Datasonic’s 9M21 revenue decreased 43% YoY to RM112.6 million from RM196.8 million in the same period last year.

UOA Development’s net profit fell to RM35m in 4Q20

UOA Development Bhd’s net profit in the fourth quarter ended Dec 31, 2020 (4Q20), fell 68.95% year-on-year (YoY) to RM34.96 million from RM112.61 million in the same quarter of the preceding year. The group posted a revenue of RM194.1 million, 14.5% lower compared to RM227 million in the same quarter last year. Revenue and gross profit for 4Q19 was higher than the current quarter, due to progressive recognition from its United Point Residence project. The group said it maintains its focus on development at targeted geographical locations, while exploring for strategic development land parcels that meet the objective of the group. UOA Development proposed a single-tier final dividend of 14 sen per share and special dividend of one sen per share, both subject to shareholders’ approval.

Press Metal’s net profit lower at RM457.2m in FY20

PRESS Metal Aluminium Holdings Bhd’s net profit was lower to RM457.2 million in the financial year ended Dec 31, 2020 (FY20), from RM473.97 million in the previous year. Its revenue for the period under review was also down 14.4% to RM7.54 billion from RM8.8 billion a year ago, the company said in a Bursa Malaysia filing yesterday. The company said the decline in revenue was due to the softer aluminium prices in the first half of 2020 (1H20) during the height of the Covid-19 pandemic. For the fourth quarter ended Dec 31, 2020 (4Q20), its net profit rose to RM142.6 million from RM134.47 million, while revenue fell 3.7% to RM2.12 billion from RM2.2 billion previously, due to lower extrusion products sales in 4Q20. — Bernama