by TMR / pic by TMR FILE 

DNeX makes changes to board

DAGANG NeXchange Bhd (DNeX) appointed Bob Chen Wei-Ming and Datuk Robert Fisher to its board of directors effective yesterday. In a statement yesterday, the company said Chen will serve as the non-independent non-ED, while Fisher will serve as the independent non-ED. Chen is expected to lend his expertise in the turnaround efforts of SilTerra Malaysia Sdn Bhd, while Fisher will bring his international upstream oil and gas experience to assist in the transformation of Ping Petroleum Ltd.

Daibochi’s 3Q earnings dip to RM10.3m

DAIBOCHI Bhd posted a net profit of RM10.3 million in the third quarter (3Q) ended April 30, 2021, attributed to higher capital expenditure expansion for ongoing capacity and capability expansions. In a filing to Bursa Malaysia yesterday, the company stated that it recorded a revenue of RM150.1 million for the quarter on the back of resilient demand for flexible plastic packaging in Malaysia, as well as in the SouthEast Asia and Oceania markets. Contribution from the domestic markets made up RM86 million or 57.3%, while exports contributed RM64.1 million or 42.7%.

Yinson partners Verano for 800MW solar projects

YINSON Holdings Bhd through its wholly owned subsidiary, Yinson Renewables (S) Pte Ltd, collaborated with Chile-based renewable energy (RE) developer Verano Capital Holdings SpA to develop RE projects in Chile, Colombia and Peru. In a statement yesterday, the company said the collaboration initially targets to progress a pipeline of over 800 megawatt (MW) of utility scale solar projects, of which 330MW are expected to be consented within the next six to 12 months. Yinson and Verano will focus on completing the consenting process for the most advanced projects in this collaboration, and subject to Yinson’s final investment decisions, Yinson and Verano aim to begin construction on the first 100MW within the next six months.

JHM Consolidation posts RM9m net profit

JHM Consolidation Bhd posted a net profit of RM9.1 million in the first quarter ended March 31, 2021, from a net loss of RM5.29 million made a year earlier. In a filing to Bursa Malaysia yesterday, the company said the revenue for the quarter increased to RM72.85 million from RM48.54 million previously due to higher sales orders from existing automotive and industrial key customers. JHM Consolidation said barring unforeseen circumstances, the group believes its prospects in the current financial year ending Dec 31, 2021, remains positive.