by TMR / pic credit: ANNUAL REPORT

Kossan profit falls 59% in 4Q21 

KOSSAN Rubber Industries Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4Q21) shrank 59.8% to RM218.67 million compared to RM543.42 million posted for 4Q20. The group’s revenue decreased to RM924.56 million compared to RM1.31 billion in 4Q20 due to lower revenue from all three divisions. Quarterly earnings per share decreased to 8.57 sen, from 21.25 sen per share in 4Q20, the group’s filing to Bursa Malaysia showed. The glovemaker declared a fourth dividend of 12 sen per share for the financial year ended Dec 31, 2021 to be paid on April 22, 2022. For the full year, Kossan’s net profit surged to RM2.85 billion from RM1.09 billion, while revenue grew to RM6.66 billion from RM3.64 billion. In the near term, Kossan said the glove industry remains challenging with the supply and demand imbalance persisting. 

Bintai Kinden now substantial shareholder in MGRC 

MALAYSIAN Genomics Resource Centre Bhd (MGRC) announced the entry of a new substantial shareholder, Bintai Kinden Corp Bhd with a shareholding of 5.03% stake, the company said in a filing to stock exchange yesterday. This follows the acquisition of 6.25 million shares by Bintai Trading Sdn Bhd, a wholly-owned subsidiary of Bintai Kinden, on Feb 17, 2022. Noor Azri Noor Azerai who was redesignated as an ED of MGRC effective from Feb 16, 2022, will oversee the business development, human resources and finance functions of the group. 

A&W Malaysia targets RM200m in sales this year 

FAST food restaurant A&W Malaysia Sdn Bhd is targeting sales revenue of RM200 million this year from more than 70 branches after a monthly boost in sales amounting to RM13 million last December, the highest in 15 years. The company said sales revenue in 2021 rose 15% to more than RM100 million despite the Covid-19 pandemic compared to 2020 and aims to expand A&W branches to more than 150, including in Sabah and Sarawak, by 2025 at a cost of RM75 million. — Bernama 

Datasonic bags Home Affairs Ministry contract 

DATASONIC Group Bhd has secured a RM50.12 million contract from the Home Affairs Ministry for the supply of MyKad, MyTentera, MyPOCA raw cards and consumables to the National Registration Department worth RM50.11 million. The security-related information and communications technology firm said its wholly-owned subsidiary, Datasonic Technologies Sdn Bhd (DTSB), yesterday accepted the letter of award (LoA) for the one-year contract that started from Feb 15, 2022.