CORP BRIEF: AirAsia X, Gas Malaysia, Hup Seng Industries and Moderna

by TMR / pic by TMR FILE

AirAsia X records net loss of 11.9m in 2Q21

AIRASIA X Bhd has recorded a net loss of RM11.94 million in the second quarter ended Dec 31, 2021 (2Q21) with the suspension of scheduled flight operations in April 2020, and the parking of the majority of the aircraft fleet, the performance indicators for the business are not meaningful. In the three months to December 2021, the company earned RM119.31 million of revenue from cargo and charter operations, an increase of RM48.5 million or 68% over the previous quarter. AirAsia X’s loss per share is at 0.3 sen.

Gas Malaysia posts RM69m profit in 4Q21

GAS Malaysia Bhd’s net profit improved marginally to RM69.29 million in the fourth quarter ended Dec 31, 2021 (4Q21), versus RM69.23 million in 4Q20. Revenue rose 6.7% to RM1.94 billion from RM1.82 billion previously, it said in a filing to Bursa Malaysia yesterday. The improvement attributed to higher average natural gas tariff, mitigated by lower volume of natural gas sold and the lower recognition of revenue cap during the quarter. On a 12-month basis, net profit rose to RM249.62 million for the financial year ended Dec 31, 2021 (FY21) from RM212.62 million a year before. However, its revenue decreased 12.5% to RM5.85 billion compared to RM6.69 billion previously, in line with lower average natural gas tariff, mitigated by higher volume of natural gas sold and higher recognition of revenue cap, it said.

Hup Seng Industries 4Q21 net profit falls to RM9.7m

HUP Seng Industries Bhd (HSIB) posted net profit of RM9.71 million for the fourth quarter which ended Dec 31, 2021 (4Q21), compared to the previous year at RM9.9 million. In filing to Bursa yesterday, HSIB stated that its export market sales saw a strong increase of about 50% or RM7.3 million mainly from Indonesia, Thailand, Myanmar and China. The group revenue dropped by 7% to RM 81.8 million for 4Q21, compared to its previous quarter at RM87.7 million, while its domestic and export sales registered a drop of 7% to RM4.7 million and 5% or about RM1.2 million respectively, due to lower production activities constrained by a shortage of manpower.

Moderna to set up subsidiary in Malaysia

VACCINE maker Moderna announced plans to establish new subsidiaries in Malaysia, Singapore, Taiwan and Hong Kong. This network expansion builds on Moderna’s existing presence in the region, with offices in Japan, South Korea, and Australia, and demonstrates Moderna’s continued commitment to the Asia-Pacific region as an essential part of Moderna’s long-term strategy and commercial vision, Moderna said in a statement yesterday.