CORP BRIEF: MAHB, BHIC and CIMB Thai

by TMR / pic by BLOOMBERG 

MAHB: All procurement undergo strict compliance

MALAYSIA Airports Holdings Bhd (MAHB) has defended that all its tender procurement process for all is conducted in strict compliance with the Anti-Bribery Management System to provide another layer of control within the company’s processes. The airport operator stated in a filing to Bursa Malaysia yesterday, in response to an article written in The Edge Weekly regarding the tenders for the “Automated People Mover and the Covid-19 Private Screening and Testing for Kuala Lumpur International Airport (KLIA)”. “This article misrepresented the situation and had caused confusion among other media members who had read it as Malaysian Anti-Corruption Commission (MACC) is investigating both the tenders, which is untrue. As such, we would like to clarify that we have received a request from MACC to provide information and documentation on the Covid-19 private screening and testing contract award for KLIA,” said MAHB.

BHIC receives contract extension worth RM159m

BOUSTEAD Heavy Industries Corp Bhd (BHIC) joint venture (JV) company Boustead DCNS Naval Corp Sdn Bhd (BDNC) received an extension of contract for another year to provide in-service support (ISS) to Royal Malaysian Navy fleet of Prime Minister’s Class Scorpene submarines. The JV was awarded the ISS contract for a period of one year from Dec 31, 2018 (ISS 2019), and had it first extended until Dec 31, 2020 (ISS 2020). In a statement released BDNC said it received a letter of award by the Ministry of Defence, which is the second extension of the ISS contract for a period of one year from Jan 1, 2021 (ISS 2021). BHIC said the second supplemental contract, valued at RM159.1 million, will be entered into accordingly.

CIMB Thai posts 31% drop in net profit for 6M21

CIMB Thai Bank pcl’s net profit for the six months period ended June 30, 2021 (6M21), decreased by 431.1 million Thai baht (RM55.51 million) or 31.1% year-on-year (YoY) to 954.8 million Thai baht. CIMB Thai is 94.83% indirectly owned by CIMB Group Holdings Bhd. In a filing to Bursa Malaysia yesterday, the bank said the lower net profit was mainly from the 19.1% YoY increase in expected credit losses, reflected by the elevated provisions from economic uncertainty and credit migration from customers affected by the Covid-19 pandemic. For the period under review, CIMB Thai’s consolidated operating income decreased 644.2 million Thai baht or 8.1% YoY to 7.28 billion Thai baht.