CORP BRIEF: RHB, Masteel, Raya Airways and PCCS

by TMR / pic by TMR FILE

RHB to grant RM1b via new financing programme

RHB Banking Group plans to grant RM1 billion through its newly-launched Sustainability Financing Programme (SFP), a green financing product bundling programme catering to the needs of both small and medium enterprise, and retail customers, by 2025. The group said the four pillars of the SFP are Green Energy, Green Buildings, Green Process and Green Products, which aim at promoting sustainable development and supporting the nation’s transition to a low-carbon economy through green financing solutions that integrate environmental, social and governance criteria. It said the SFP adopts a more holistic approach to green financing, addressing the needs of both businesses and individuals through various financing solutions. — Bernama

Masteel posts RM9.4m net profit

MALAYSIA Steel Works (KL) Bhd (Masteel) posted a net profit of RM9.4 million in the second quarter ended June 30, 2021 (2Q21), compared to RM22.5 million losses in 2Q20, supported by higher sales volume and selling prices of steel bars. In a statement yesterday, the group noted that its group revenue rose 80.5% to RM353.1 million in 2Q21 from a low revenue base of RM195.6 million last year. Group revenue for the first half ended June 30, 2021 (1H21), rose 33.6% to RM792.9 million, while earnings saw a turnaround to a net profit of RM17.8 million compared to net loss of RM26.7 million in the corresponding period a year ago.

Raya Airways to be Asean 1st cargo drone operator

RAYA Airways Sdn Bhd is set to be the first freight service provider in Asean to operate cargo drones after embarking on a proof of commercialisation (POC) with Pen Aviation Sdn Bhd to demonstrate the commercial viability of utilising unmanned automated vehicles to transport goods. A joint statement by both parties yesterday said that the POC is aimed at unlocking prospects for Raya Airways’ freight services with the utilisation of Pen Aviation’s medium-size cargo drone, PEN55V. — Bernama

PCCS launches hire purchase business

PCCS Group Bhd, an apparel company, is launching its hire purchase business this month with a RM5 million loan book. In a statement yesterday, the group said the company is confident that its Melaka and Johor based hire purchase unit, Southern Auto Capital Sdn Bhd, will start contributing revenue to the group in the current financial year ending March 31, 2022, now that Melaka has entered Phase 2 of the National Recovery Plan. — Bernama