In this latest installment of Kuala Lumpur News, we cover significant achievements by local companies. Sarawak Consolidated Industries Berhad (SCIB) secures a RM162 million contract for affordable housing development in Perak. Aneka Jaringan Holdings Berhad reports a remarkable 186.41 per cent profit surge in Q3 FYE2024, reflecting its resilience and strategic growth. Betamek Berhad announces a 7.7 per cent increase in Q1 FY2025 profits and declares a 1.0 sen interim dividend, showcasing its strength in the automotive electronics sector. Read more about these developments below.
SCIB Secures RM162M Contract
Kuala Lumpur, July 26: Sarawak Consolidated Industries Berhad (SCIB) has won a RM162 million contract through its subsidiary SCIB Properties Sdn. Bhd. to develop affordable housing in Mualim, Perak. The project, awarded by Awana JV Suria Saga Sdn. Bhd., involves constructing 829 affordable terrace houses and 28 shop offices in two phases across 48.56 hectares. The project will last 23 months.
SCIB Managing Director, Ku Chong Hong, said, “We are honoured to be entrusted with this significant project which aligns with our strategic focus on sustainable community development. This contract not only strengthens our portfolio in the construction sector but also underscores our dedication to contributing to Malaysia’s affordable housing landscape.”
SCIB recently secured RM70 million in Islamic banking facilities from SME Bank, enhancing its financial agility. As of 25 July 2024, SCIB’s share price was RM0.290, with a market capitalisation of RM191 million.
Aneka Jaringan’s Profit Surge
Kuala Lumpur, July 26: Aneka Jaringan Holdings Berhad reported a 186.41 per cent increase in gross profit for 3Q FYE2024, reaching RM4.36 million compared to RM1.52 million in 3Q FYE2023.
The group’s revenue rose to RM41.85 million, up RM0.60 million from the previous year.
Profit After Tax was RM0.55 million, a significant turnaround from the RM2.86 million Loss After Tax in 3Q FYE2023.
For the nine months ended 31 May 2024, cumulative revenue was RM154.84 million, with a PAT of RM2.48 million, improving from a RM11.84 million LAT in the same period of the previous year.
Managing Director Pang Tse Fui stated, “It is encouraging to see Aneka Jaringan’s continued growth and profitability, reflecting our dedication and resilience in navigating market challenges. Our financial results for the third quarter demonstrate our ability to execute effectively and manage our operations efficiently.”
The company also secured new contracts, including a RM12.9 million project for Hanaz @ Jalan Mayang and a RM53.0 million contract for a logistic hub in Shah Alam. As of 31 May 2024, the order book stood at RM231.38 million.
Betamek’s Q1 Profit Rise
Kuala Lumpur, July 26: Betamek Berhad reported a Profit After Tax of RM4.9 million for Q1 FY2025, a 7.7 per cent increase from RM4.5 million in Q1 FY2024. Revenue grew by 15 per cent to RM49.9 million, with a gross profit of RM8.6 million.
The company announced a 1.0 sen interim dividend payable on 23 August 2024.
Executive Director Muhammad Fauzi Bin Abd Ghani stated, “Our positive performance in Q1 FY2025 reflects our resilience and focus amidst evolving market dynamics. Besides, we are also pleased to reward our loyal shareholders with the first interim dividend of 1.0 sen for FY2025.”
The acquisition of Sanshin (Malaysia) Sdn. Bhd. and a joint venture with Shenzhen Zhonghong Technology Co., Ltd. aim to diversify Betamek’s customer base and expand its international footprint.
Betamek remains optimistic about its prospects, supported by a robust domestic economy and growing demand in the automotive market, particularly for EVs. As of 25 July 2024, Betamek’s share price was 39.5 sen, with a market capitalisation of RM177.8 million.
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