CORP BRIEF: PPB, Alliance Bank, MRCB and SP Setia

by TMR / pic by TMR FILE

PPB offers 25 sen dividend

PPB Group Bhd recorded a higher net profit of RM1.5 billion for the financial year ended Dec 31, 2021 (FY21) from RM1.32 billion last year, propelled by higher contribution from Wilmar International Ltd, which increased 21% to RM1.5 billion from RM1.24 billion in FY20. Its revenue jumped to RM4.86 billion from RM4.19 billion on higher revenue recorded in all core segments, it told Bursa Malaysia. For the fourth quarter, PPB’s net profit jumped to RM502.56 million from RM385.39 million previously, while revenue was higher at RM1.42 billion from RM1.13 billion previously. The group proposed a final dividend of 25 sen per share, subject to approval of shareholders at its 53rd AGM scheduled to be held on May 12, 2022.

Alliance Bank profit up 50% in 3Q21

ALLIANCE Bank Malaysia Bhd’s net profit increased by 50.3% to RM151.02 million in the third quarter ended Dec 31, 2021 (3Q21) from RM100.46 million in 3Q20, mainly due to higher interest income and lower credit cost. Revenue also rose to RM480.18 million from RM475.7 million previously, the bank said in a filing to Bursa Malaysia yesterday.

MRCB declares 1st and final dividend for FY21

MALAYSIAN Resources Corp Bhd (MRCB) rebounded to record a net profit of RM15.83 million in the financial year ended Dec 31, 2021 (FY21) from a net loss of RM177.37 million in the same period a year earlier. Revenue for FY21 increased to RM1.45 billion from RM1.2 billion. The group approved and declared a first and final single-tier dividend for FY21 of one sen per ordinary share, totalling RM44.7 million to be made on May 20, 2022.

SP Setia returns to black

SP SETIA Bhd returned to the black with a net profit of RM284.36 million for the financial year ended Dec 31, 2021 (FY21) compared with a net loss of RM320.75 million in FY20. Revenue rose to RM3.76 billion from RM3.23 billion previously, it said in a filing to Bursa Malaysia yesterday. For the fourth quarter of FY21 (4Q21), its net profit more than doubled to RM123.31 million against RM56.5 million in 4Q20. However, revenue was marginally lower at RM1.03 billion from RM1.11 billion previously. The company declared a final ordinary dividend of 0.65 sen per share, as well as preferential dividends of 6.49% and 5.93% per annum respectively, for its Islamic Redeemable Convertible Preference Shares A and B respectively for the financial period.