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Public Bank, LPI Capital, UMW, Takaful Malaysia, Capital A, Magni-Tech – The Edge Markets MY

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KUALA LUMPUR (Dec 12): Here is a brief recap of some corporate announcements that made news on Monday (Dec 12), involving Public Bank Bhd, LPI Capital Bhd, UMW Holdings Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Capital A Bhd and Magni-Tech Industries Bhd.
Public Bank Bhd founder and chairman emeritus Tan Sri Dr Teh Hong Piow passed away on Monday (Dec 12) morning at the age of 92. Teh founded Public Bank in 1965 at the age of 35 and became one of Malaysia’s wealthiest men with the bank becoming the country’s third largest banking group by assets. Teh held a 21.64% stake in Public Bank through his private investment vehicle Consolidated Teh Holdings Sdn Bhd, and also directly held a 0.64% stake of the bank. Teh was also the founder and chairman of insurance company LPI Capital Bhd.
UMW Holdings Bhd said it delivered 39,034 units in November, 11% higher than the 35,130 units registered for October, in addition to delivering a year-to-date total of 341,390 units as of November, 48% higher than the 230,355 units registered for the corresponding period of 2021. UMW Toyota Motor registered its highest sales for 2022 with the delivery of 10,442 units in November, 13% higher than the 9,281 units registered for October, with Toyota Vios, Hilux and Corolla Cross being its bestselling models for the year.
Syarikat Takaful Malaysia Keluarga Bhd announced an interim dividend of 13.5 sen per share for the financial year ending Dec 31, 2022. The payment date for the dividend will be Jan 16, 2023 and the entitlement date will be Dec 29. This takaful operator reported a higher net profit for the third quarter, up 20% to RM87.27 million from RM72.6 million in the preceding year’s corresponding quarter, due to higher net wakalah fee income.
Capital A Bhd‘s chief executive office Tan Sri Tony Fernandes said that the group is poised to see earnings turnaround in 2023, and said he foresees three tailwinds including the fall of oil price, the strengthening of the Asean currencies against the greenback, and China’s border reopening. He projected that the group will have 140 operational aircraft by the end of this year, with the remaining 65 aircraft to be repaired and deployed next year. Meanwhile, the group launched its Super App for its airasia members.
Magni-Tech Industries Bhd announced a second interim dividend of 2.3 sen to be paid on Jan 11, 2023 after reporting a net profit of RM24.98 million for the second quarter ended Oct 31, 2022, compared with RM17.08 million a year earlier, due to a gain of RM16.89 million for the disposal of property. Quarterly revenue surged to RM343.04 million from RM112.26 million, boosted by revenue from the group’s garment segment.
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