CORP BRIEF: Kenanga Investment, YTL Power, IJM, Cahya Mata and AME

Kenanga Investment posted record profit in FY20

KENANGA Investment Bank Bhd posted a record net profit of RM102.1 million in the financial year ended Dec 31, 2020 (FY20), almost quadrupling its net profit of RM26.39 million recorded in FY19. Consolidated revenue rose to RM973.8 million in FY20 from RM651.3 million previously, the investment bank said in a filing to Bursa Malaysia yesterday. In its fourth-quarter (4Q20) performance, the bank’s net profit had more than quadrupled to RM39.3 million from RM8.71 million in 4Q19, while revenue increased to RM276.8 million from RM166.2 million previously. — Bernama

YTL Power chalks up RM154.6m profit in 2Q21

YTL Power International Bhd’s net profit for the second quarter ended Dec 31, 2020 (2Q21), jumped to RM154.55 million from RM70.26 million in 2Q20. Revenue for the quarter, however, slipped to RM2.62 billion from RM2.8 billion mainly attributed to lower energy payment recorded, and lower interest and technical services income, the power producer said in a filing to Bursa Malaysia yesterday. — Bernama

IJM’s profit soars to RM144.5m in 3Q21

IJM Corp Bhd’s net profit soared by 190% to RM144.5 million in the third quarter ended Dec 31, 2020 (3Q21), from RM49.77 million in 3Q20. Revenue jumped to RM1.71 billion from RM1.44 billion previously, it said in a statement yesterday. IJM’s core business activities encompass construction, property development, manufacturing, quarrying, infrastructure concessions and plantations. Overall, the group’s financial performance in the quarter under review was broad-based with all divisions posting higher revenue and profits, except for its toll division. — Bernama

CMS records higher earnings in FY20

CAHYA Mata Sarawak Bhd’s (CMS) net profit rose slightly to RM194.71 million for the financial year ended Dec 31, 2020 (FY20), from RM159.45 million a year earlier. Revenue for FY20, however, declined to RM758.54 million from RM1.11 billion previously, it said in a filing to Bursa Malaysia yesterday.

AME’s 3Q21 revenue expands to RM121.7m

AME Elite Consortium Bhd posted 14.7% higher revenue to RM121.7 million for the third quarter ended Dec 31, 2020 (3Q21), from RM106.1 million previously, led by growth in the property development and property investment, and management services segments. In a statement yesterday, the company noted that the property development segment contributed RM48 million, leaping 244% from RM14 million previously.