Kuala Lumpur News

Kuala Lumpur, Nov 27: As the business landscape continues to evolve, several Malaysian companies have demonstrated resilience and strategic adaptability, achieving noteworthy successes in the fourth quarter.

Propel Global Berhad Reports Strong Q1 Performance

Despite facing challenging market conditions, Propel Global Berhad, a key player in oil and gas services, showcased robust financial performance in the first quarter of fiscal year 2024 (“Q1”).
The Group reported a substantial revenue growth of RM27.6 million, compared to RM18.1 million in Q1 of the previous year.
Propel Global’s Oil and Gas (“O&G”) Segment played a pivotal role in this success, contributing RM19.0 million in revenue and a Profit Before Tax (“PBT”) of RM5.0 million.
The Technical Services (“TS”) Segment recorded a revenue of RM8.6 million, with a slight Loss Before Tax (“LBT”) of RM0.1 million.
The company’s focus on sustainable practices and alignment with the National Energy Transition Roadmap positions it strongly for future success.
Angeline Lee, Executive Director and Group CEO of Propel Global stated, “Our Q1 results underscore our ability to adapt and strategically align with evolving business landscapes. We are actively pursuing opportunities under the National Energy Transition Roadmap and New Industrial Master Plan 2030, aligning our operations with sustainable development goals.”
In line with the Group’s strategic direction, Propel Global is expanding its capabilities in the O&G and Technical Services Segments, emphasizing engineering, technical, and technology services.

MR D.I.Y.’s “Bounce & Bingo” Tournament Crowns Johor Couple Champions

In the realm of entertainment and engagement, MR D.I.Y. made waves with its inaugural “Bounce & Bingo” Tournament.
Held at MR D.I.Y. PLUS, Mid Valley Megamall, on 25 November, the tournament attracted over 5,000 participants during the initial stage across 48 MR D.I.Y. PLUS stores nationwide.
Moey Yen Ying and Ng Boon Pin, a husband-and-wife team from Johor, emerged victorious, defeating teams from Sabah, Melaka, Selangor, and Putrajaya.
The couple secured the coveted title and a cash prize of RM10,000 after forming a winning bingo in just 17 seconds during the final round.
Alex Goh, MR D.I.Y. Group’s Head of Marketing, expressed pride in the tournament’s success, stating, “This is MR D.I.Y.’s first time organizing a game tournament, and the response has been overwhelmingly positive. With these game tournaments, we aim to make our customers’ visits to MR. D.I.Y. stores more enjoyable and memorable.”
Due to the positive response, MR D.I.Y. plans to organize more game tournaments in the future, adding value to customers’ lives and enhancing their in-store experiences.

Minetech Resources Berhad Achieves Significant Turnaround in Q2

Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer, reported a significant financial turnaround in the second quarter ended 30 November.
The Company achieved a remarkable increase in revenue, reaching RM33.24 million compared to RM26.94 million in Q2 of the previous year.
The improved performance was driven by the Civil Engineering division, which saw revenue rise to RM25.45 million.
Matt Chin, Executive Director of Minetech, highlighted the results as a pivotal moment, stating, “The results from Q2 represent a pivotal moment in Minetech’s journey, showcasing our dedication to strategic growth and exceptional operational efficiency.”
The Group’s focus on diversification and operational efficiency, including the successful introduction of the Energy segment, positions Minetech optimally for sustained growth.

Leon Fuat Berhad Reports Remarkable Profit Turnaround in Q3

In the steel manufacturing sector, Leon Fuat Berhad demonstrated a remarkable improvement in profitability for the third quarter ended 30 November.
Despite a 10.1 per cent decrease in revenue compared to the corresponding quarter of the preceding financial year, the Group achieved a significant turnaround, recording a Profit Before Tax (“PBT”) of RM3.99 million in Q3.
The positive results in Q3 position Leon Fuat Berhad for continued success and strategic growth in the steel manufacturing industry.
The Group’s focus on operational efficiency and the impending operational commencement of Phase 2 of its facilities in early 2024 adds further optimism about its long-term prospects.
As of 27 November, Leon Fuat’s share price is RM0.53, representing a market capitalization of RM180.7 million.