KUALA LUMPUR (Feb 19): Here is a brief recap of some corporate announcements that made news on Wednesday.

Malaysian Pacific Industries Bhd (KL:MPI) reported a 24.52% rise in net profit to RM40.03 million for the fourth quarter ended Dec 31, 2024 (4QFY2024),  from RM32.15 million last year, driven by a 26.16% reduction in operating costs. Its revenue was up 1.48% during the quarter to RM530.5 million from RM522.75 million. It did not declare any dividend for the quarter. For the full FY2024, its net profit surged 44.15% to RM70.16 million from RM48.67 million a year earlier, while revenue was flat at RM1.05 billion from RM1.04 billion. — MPI posts 24.5% rise in 4Q net profit due to lower operating costs

Offshore supply vessel (OSV) operator Perdana Petroleum Bhd (KL:PERDANA) is "seriously" considering fleet renewal and rejuvenation, said managing director Jamalludin Obeng, in light of upbeat upstream oil and gas (O&G) activities outlook and after delivering the highest net profits in 18 years, at RM146.03 million for FY2024. On a year-on-year basis, the latest earnings was 228.79% higher compared with RM44.51 million, thanks to higher number of vessels in operations and higher charter rates, coupled with higher utilisation rate. Revenue rose 40.2% to RM440.12 million, compared with RM313.91 million in FY2023. In 4QFY2024, Perdana’s net profit rose 38% to RM29.46 million, from RM21.36 million, as it booked higher gross profit and enjoyed the higher reversal of provisions. Revenue, however, fell 9.8% to RM89.05 million from RM98.72 million, mainly due to lower vessel utilisation of 50% compared to 53% in 4QFY2023, as well as reduced contributions from third-party vessel chartering activities. — Perdana Petroleum posts biggest profit in 18 years, ‘seriously’ eyeing fleet renewal 

Southern Acids (M) Bhd's (KL:SAB) net profit for the third quarter ended Dec 31, 2024 (3QFY2025) rose by more than five times to RM24.96 million, from RM4.57 million a year earlier, thanks to higher earning contributions from its oleochemical manufacturing and milling businesses amid strong commodity prices. This marks its strongest earnings since 4QFY2022. Quarterly revenue rose 30.34% year-on-year to RM303.15 million from RM232.58 million, driven by higher revenue contribution across its three core business segments. No dividend was declared in the quarter. The stellar quarterly performance pushed Southern Acids' nine-month net profit to RM31.8 million, a near four-fold increase compared with RM8.32 million previously. Cumulative revenue increased 23.8% year-on-year to RM842.26 million from RM680.36 million. — Southern Acids posts near three-year high quarterly net profit amid strong commodity prices  

Energy and marine solutions provider Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) saw its net profit more than tripled to RM21.38 million for the 4QFY2024, from RM6.18 million a year earlier, driven by a recognition of change order claims in the heavy engineering segment. This was despite revenue falling 26.9% year-on-year to RM817.61 million from RM1.12 billion, as several ongoing projects neared completion, leading to lower activity. No dividend was declared for the current quarter. For the full year (FY2024), MHB returned to the black, booking a net profit of RM121 million compared with a net loss of RM484.19 million in FY2023. Revenue also increased 9.04% to RM3.61 billion from RM3.31 billion in the previous year. — MHB’s 4Q net profit more than triples on change order claims 

Duopharma Biotech Bhd (KL:DPHARMA) posted a 77.4% surge in net profit to RM15.08 million for 4QFY2024, from RM8.5 million a year earlier, on higher revenue and the initial crystallisation of favourable impacts from industry-wide normalisation of active pharmaceutical ingredient prices to pre-pandemic level. Quarterly revenue rose 15.62% to RM193.67 million from RM167.5 million, supported by strong sales in the public health, ethical specialty, and export segments. Duopharma, which is 44.11%-owned by Permodalan Nasional Bhd, declared a second interim dividend of two sen per share, to be paid on March 19. This brings the total dividend payout for FY2024 to three sen per share, surpassing the previous year’s 2.3 sen per share. For FY2024, Duopharma's net profit rose 19% to RM62.65 million from RM52.65 million in FY2023, while revenue grew 15.46% to RM813.7 million from RM704.73 million. — Duopharma’s 4Q net profit rises 77% on higher sales  

ITMAX System Bhd’s (KL:ITMAX) non-independent executive director Datin Afinaliza Zainal Abidin has disposed of her remaining 4.58% stake in the smart city integrated system solution provider, for RM174.41 million. She sold 46 million shares on Tuesday and 1.14 million shares on Wednesday in off-market transactions via her vehicle Ganda Sensasi Sdn Bhd. The shares were offloaded at RM3.70 apiece, which was a discount of 8.4% against ITMAX's closing share price of RM4.04 on Tuesday, and a 5.6% discount against RM3.92 on Wednesday. In September last year, Afinaliza disposed of 61.86 million shares or a 6.01% stake in ITMAX for RM201.1 million. Afinaliza was one of the promoters of ITMAX’s listing exercise. When the company listed on Bursa Malaysia’s Main Market at RM1.07 per share in December 2022, she controlled a 17.58% stake. — ITMAX executive director sells remaining 4.6% stake for RM174m  

Southern Cable Group Bhd (KL:SCGBHD) has secured a RM403.55 million contract from Tenaga Nasional Bhd (TNB) (KL:TENAGA) to supply underground cable and conductors to the utility giant's distribution network division. The contract, awarded to the cable and wire maker’s unit Southern Cable Sdn Bhd, took effect on Feb 12. The contract period spans one year, with an option to extend for an additional year at the same contract price — an additional RM403.55 million. — Southern Cable bags RM403.6m underground cable supply job from TNB  

Water and wastewater engineering company Salcon Bhd (KL:SALCON) has secured a pipe replacement contract worth RM70.52 million from Malaysia's water asset custodian Pengurusan Aset Air Bhd (PAAB). The project, covering Kota Bharu in Kelantan, has a tenure of 24 months and is due for completion on March 16, 2027. — Salcon bags RM70.5 mil pipe replacement contract 

Marine transportation and offshore storage company EA Technique (M) Bhd (KL:EATECH) is to be rid of its Practice Note 17 (PN17) status, effective from Thursday (Feb 20). EA Technique, which will trade under its new name of Avangaad Bhd next Monday, fell into PN17 status in February 2022, after its shareholders’ equity of RM5.96 million as at end-December 2021 was noted to be less than 50% of its share capital of RM179.76 million. — Bursa approves EA Technique's exit from PN17 status

Hektar Real Estate Investment Trust (KL:HEKTAR) is acquiring a light industrial asset in the Bayan Lepas Free Industrial Zone, Penang, for RM30 million from Microlead Precision Technology Sdn Bhd (MPT), a subsidiary of MQ Technology Bhd (KL:MQTECH). Upon completion, MPT will lease back the property for a 15-year term under a triple net master lease arrangement, with an option to extend for another 15 years. The lease includes a 5% rental escalation every three years. The acquisition brings the REIT’s portfolio to eight properties, which currently include shopping malls and an educational facility. — Hektar REIT buys industrial asset in Penang for RM30 mil from MQ Tech’s unit