CORP BRIEF: MAHB, MBSB, Axiata and MYEG

by TMR / pic by TMR FILE 

 

MAHB posts lower net loss in 3Q21 

MALAYSIA Airports Holdings Bhd’s (MAHB) net loss narrowed to RM182.31 million in the third quarter ended Sept 30, 2021 (3Q21), from a net loss of RM319.71 million in 3Q20. Revenue improved to RM461.33 million from RM396.69 million previously, driven by higher passenger volume for its Turkey operations due to the relaxation of border and inter-city travel. Passenger traffic for the Malaysia operations contracted by 77.8% to one million passengers compared to 4.5 million passengers in the corresponding quarter last year, impacted by the continuation of the Movement Control Order and renewed total lockdown from June 1, 2021. — Bernama 

MBSB records RM104m net loss in 3QFY21 

MALAYSIA Building Society Bhd (MBSB) recorded a net loss of RM104.6 million in the third quarter ended Sept 30, 2021 (3QFY21), against a net profit of RM258.2 million in 3QFY20. Revenue eased to RM681 million from RM765.6 million previously. In a filing to Bursa Malaysia yesterday, it said the loss in the current quarter was mainly due to a higher net allowance for impairment charged on the corporate portfolio. It said the company also recorded a higher loss on modification of cashflows for 3QFY21 following the granting of moratoriums to retail customers under the National People’s Wellbeing and Economic Recovery Package. — Bernama 

Axiata formally commits to net zero carbon by 2050 

AXIATA Group Bhd has formalised its commitment to set a long-term science-based target to reach net-zero no later than 2050 by signing its commitment to the Science-Based Target Initiative (SBTi), the company said in a statement. The signing yesterday makes Axiata the first telecommunication company in Malaysia to adopt the SBTi, joining more than 50 others in the industry globally. 

MYEG posts higher net profit in 3Q21 

MYEG Sdn Bhd posted a higher net profit of RM78.46 million for the third quarter ended Sept 30, 2021 (3Q21), from RM70.74 million recorded in 3Q20. Revenue increased to RM156.8 million versus RM136.1 million previously. In a filing to Bursa Malaysia yesterday, the company said the higher net profit and revenue were derived from among others, the contribution from its new concession services and online renewal of competent driving licence. The better performance was also attributed to contributions from new commercial services, quarantine collection services and the increased online sale of groceries through its online store.