by TMR / graphic by MZUKRI MOHAMAD

Sedania posts RM4.2m net profit in 1Q

SEDANIA Innovator Bhd’s net profit increased by threefold to RM4.21 million against the previous net loss of RM1.82 million for its first quarter ended March 31, 2021. In a filing to Bursa Malaysia yesterday, the group noted that the improvement in results was mainly due to the positive contributions from the greentech and healthtech segments. Its revenue had also increased five times from RM2.78 million to RM17.07 million during the period, noting the contributions from the greentech segment and its newly acquired healthtech subsidiary during the quarter.

Kenanga posts RM34.16mil in net profit for 1Q21

KENANGA Investment Bank Bhd chalked up a positive financial performance in the first quarter ended March 31, 2021 (1Q21), registering a net profit of RM34.16 million from a net loss of RM6.95 million registered in the same quarter a year ago. Revenue for the period under review rose to RM250.12 million from RM165.33 million a year ago. “The group’s revenue was higher for 1Q21 compared to 1Q20 mainly due to higher brokerage fee, management fee income, investment banking fees, and trading and investment income,” the firm said in a filing to Bursa Malaysia yesterday. — Bernama

Stricter SOPs for capital market players

THE capital market participants (CMPs) can continue to undertake and provide capital market activities and services with tightened standard operating procedures (SOPs), said the Securities Commission Malaysia (SC). In a statement, the SC has affirmed that the capital market will continue to remain open and operate as usual within normal business hours throughout the total lockdown period of 14 days beginning today. It said the CMPs, which are categorised as essential service providers, include the approved exchanges, licensed entities (capital market services licence holders), registered persons, Audit Oversight Board registered auditors, self-regulatory organisations, recognised market operators and other capital market-related entities. — Bernama

Eversendai delivers 2nd European RE project

EVERSENDAI Corp Bhd’s wholly owned subsidiary, Eversendai Offshore Sdn Bhd, delivered its second European offshore wind renewable energy (RE) jacket project for Hollandse Kust (Zuid) Offshore Wind Farm. The company said it has successfully loaded out the foundation jacket structure for the 700 megawatt high voltage alternating current offshore Beta topside platform for the wind farm in the Netherlands developed by TenneT, a leading European electricity transmission system operator. In a statement yesterday, the company said this project was awarded by Petrofac Ltd to Eversendai Offshore and the scope of work included fabrication engineering, fabrication and construction of the jacket, and piles and its appurtenances including loadout and sea-fastening. — Bernama