CORP BRIEF: TH Plantations, MBSB, MBM Resources and Parkson Holdings

by TMR / pic by HUSSEIN SHAHARUDDIN

TH Plantations posts RM32.6m net profit for 2Q

TH PLANTATIONS Bhd recorded RM32.6 million in net profit for the second quarter 2021 (2Q), against RM13.35 million in the same period last year. Revenue for the 2Q improved to RM176.15 million, an increase of 38% compared to the corresponding quarter a year ago. The group’s first half performance in the financial year ending Dec 31, 2021 (1H21), improved significantly recording a net profit of RM52.17 million. Higher revenue by 26.44% to RM307.39 million was mainly due to increase in crude palm oil prices, effective cost management and improvements in efficiency contributed to the strong 1H21 performance.

MBSB’s profit surges to RM403m in 2Q

MALAYSIA Building Society Bhd’s (MBSB) net profit surged to RM403.41 million against a net loss of RM12.51 million for the second quarter ended (2Q) June 30, 2021. In a filing to Bursa Malaysia yesterday, the group said its revenue fell to RM664.94 million from RM886.35 million in the same quarter last year, mostly due to lower gain from the sale of financial investments in the current quarter. The group is optimistic for its next quarter performance as the economy reopening will further strengthen its position and explore new initiatives. It will also continue to focus its businesses in selected sustainable sectors and drive greater growth and adoption of emerging technologies amid the need to remain cautious.

MBM Resources’ 2Q net profit up 420.6% YoY

MBM Resources Bhd has posted RM16.63 million in net profit for the second quarter (2Q) ended June 30, 2021, against net loss of RM5.19 million made a year ago on higher revenue. Its revenue for the period was up to RM320.88 million against the previous RM258.6 million due to higher performance from both its motor trading and auto parts manufacturing divisions. The group’s board of directors has declared a first interim dividend of five sen per ordinary share under the single-tier system for the financial year ending Dec 31, 2021.

Parkson Holdings posts over 100% rise in earnings

PARKSON Holdings Bhd has recorded net profit of RM130.63 million against the previous year’s net loss of RM218.32 million for the three months period from April 1 to June 30, 2021. Its revenue was higher at RM781.42 million versus the previous RM677.37 million. Its consumer financing business continued to increase in revenue and operating profit while its food and beverage operations reported a lower revenue due to closure of loss-making outlets.