CORP BRIEF: Gagasan Nadi Cergas, IHH Healthcare, Boustead Plantations and Takaful Malaysia

by TMR / pic by MUHD AMIN NAHARUL 

Gagasan Nadi Cergas’ net profit doubled to RM13.7m

GAGASAN Nadi Cergas Bhd saw net profit double to RM13.7 million in the nine months ended Sept 30, 2021 (9M21), from RM6.7 million in 9M20, as the group’s diversified business model continues to support the group in navigating the tough operating environment. In a statement yesterday, the company said group’s revenue fell marginally to RM145 million in 9M21 compared to RM151.2 million in 9M20, despite a lower construction revenue of RM91.5 million in 9M21 versus RM128 million previously. The property development and recurring income segments collectively registered RM53.6 million revenue in 9M21 compared to RM22.4 million a year ago.

IHH Healthcare mulling sales of China hospitals

IHH Healthcare Bhd is considering the potential sale of its China unit, in a deal that could value the chain at as much as US$1 billion (RM4.19 billion), according to people familiar with the situation. The Kuala Lumpur-based company is in discussions with potential advisors on a possible sale of Parkway China, the people said, asking not to be named as the information is private. Taikang Insurance Group and Shanghai Hongxin Medical Investment Holding Co are also weighing participating in the sale, the people said. — Bloomberg

Boustead Plantations records 4-fold 3Q net profit

BOUSTEAD Plantations Bhd’s net profit for the third quarter (3Q) jumped 432% to RM95.55 million from RM17.97 million in the same quarter last year due to an increase in palm products prices. In a filing to Bursa Malaysia yesterday, the company said revenue for 3Q ended Sept 30, 2021 (3Q21), rose 43% to RM293.77 million compared to RM205.67 million previously. It said the average crude palm oil selling price for 3Q recorded RM4,331 per metric tonne (MT), which surpassed last year’s corresponding quarter of RM2,772 per MT by 56%.

Takaful Malaysia posts lower 3Q net profit

SYARIKAT Takaful Malaysia Keluarga Bhd’s net profit fell 12% to RM72.6 million in the third quarter ended Sept 30, 2021 (3Q21), compared to RM82.6 million posted in 3Q20. Revenue for the quarter under review declined 9% to RM684.32 million versus RM753.47 million a year ago. The revenue decrease was mainly attributable to lower sales generated from the Family Takaful business, the company said in a filing to Bursa Malaysia yesterday. — Bernama