Kuala Lumpur News

In the latest Kuala Lumpur news, Varia Berhad secures a RM410.3 million flood mitigation contract in Johor, boosting its order book to RM2.2 billion.
MClean Technologies reports a 177 per cent profit surge in Q2 FY2024, while DC Healthcare Holdings sees a revenue dip due to lower aesthetic service redemptions.
Betamek Berhad successfully wraps up its 2024 AGM, and Tex Cycle expands its waste management solutions through a new partnership.
As Malaysia marks its 67th Independence Day, redBus offers a 67 per cent discount on select routes, and KPJ Damansara launches a dengue vaccination campaign. Read more below.

Varia Lands RM410.3 Million Project

Varia Berhad, through its subsidiary Pembinaan Teguh Maju Sdn. Bhd., has secured a RM410.3 million contract from Kator Construction Sdn Bhd for flood mitigation works in Segamat, Johor. The project, part of the “Rancangan Tebatan Banjir Sungai Muar” initiative, is set to enhance Varia’s earnings and market position. This latest win adds to Varia’s growing order book, which now totals RM2.2 billion, reflecting its continued success in securing large-scale projects across Malaysia. As of 27 August 2024, Varia’s share price is RM1.040, with a market capitalisation of RM442.0 million.

MClean Posts Strong Q2 Growth

MClean Technologies reported a 177 per cent growth in profit before tax for Q2 FY2024, marking its second consecutive profitable quarter.
The company achieved a revenue of RM15.5 million, a 30 per cent increase from the previous year, driven by strong demand for its precision cleaning services.
The recent entry of Accrelist Crowdfunding Pte. Ltd. as a substantial shareholder is expected to further enhance MClean’s market share and operational efficiency.
The share price closed at RM0.29 on 27 August 2024, with a market capitalisation of RM57.2 million.

Revenue Decline for DC Healthcare

DC Healthcare Holdings Berhad reported RM13.88 million in revenue for 2Q FY2024, a drop from RM17.89 million in the same quarter last year due to lower redemption rates in aesthetic services. Despite the revenue decline, the company saw an increase in contract liabilities, signaling potential future revenue.
The Group recorded a loss before tax of RM6.71 million, compared to a profit in 2Q FY2023, primarily due to higher operational and marketing costs.
However, the Group’s revenue rose by 47 per cent from the previous quarter, reflecting improved performance.

Betamek AGM Success

Betamek Berhad concluded its 2024 AGM with shareholders approving all six resolutions, including a final single-tier dividend of 1.0 sen per share, the re-election of directors, and the reappointment of auditors.
The company’s strong performance in FY2024 was highlighted during the meeting. As of August 27, 2024, Betamek’s share price closed at 0.425 sen, with a market capitalization of RM191.3 million.

Tex Cycle Expands Partnership

Tex Cycle Technology (M) Berhad has signed a License Manufacture and Distribution Agreement with BiobiN Technologies Pty Ltd and Peats Group Limited, strengthening its waste management solutions. The agreement allows Ground Control, a subsidiary of Tex Cycle, to manufacture and distribute BiobiN® systems in Malaysia.
This innovative technology will enhance Tex Cycle’s capabilities in managing organic waste, supporting sustainability by reducing landfill impact and greenhouse gas emissions.
The partnership aligns with global environmental standards and aims to improve waste management practices in various industries.

Celebrate Merdeka with redBus

In celebration of Malaysia’s 67th anniversary, redBus is offering a 67 per cent discount on 67 bus routes across the country from August 29th to September 17th.
These routes showcase the diverse beauty of Malaysia, taking travelers through coastal drives, cultural hubs, and food destinations.
Whether you’re exploring the Minangkabau architecture in Negeri Sembilan, enjoying fresh seafood in Port Dickson, or discovering the traditional village atmosphere in Alor Gajah, redBus provides a unique opportunity to experience the nation’s rich heritage.
This Merdeka, redBus invites you to explore Malaysia’s hidden gems, vibrant culture, and scenic landscapes.

KPJ Damansara Fights Dengue

KPJ Damansara Specialist Hospital has launched a dengue prevention awareness campaign, coinciding with Malaysia’s 67th Independence Day.
The event, held on August 24, 2024, introduced a dengue vaccination programme in collaboration with Takeda Malaysia Sdn Bhd.
This initiative comes in response to the alarming rise in dengue cases, with over 75,000 reported in Malaysia during the first half of 2024.
The campaign emphasizes the importance of vaccination as a preventive measure, especially for individuals over four years old.
The vaccine package is available starting at RM 220, with combo offers at RM 400.

Solar Partnership in Malaysia

ATPC, through its subsidiary ATPC Green Energy, has partnered with Phoenix Green Energy to advance solar technology in Malaysia.
The collaboration focuses on developing and commercializing solar solutions like amorphous thin-film solar panels, supporting Malaysia’s transition to renewable energy.
This partnership aligns with ATPC’s Environmental, Social, and Governance (ESG) initiatives, aiming to reduce carbon footprints and promote sustainable practices.
The companies will leverage their combined expertise to accelerate solar adoption in the region.
Prof Datuk Seri Dr How Kok Choong and Heng Huachuin emphasised the significance of this collaboration in driving innovation and sustainability.

SDCG’s RM45 Million IPO

Solar District Cooling Group Berhad (SDCG) has launched its IPO prospectus, aiming to raise RM45.09 million through the issuance of 118.67 million shares at RM0.38 each. The funds will be used for headquarters expansion, bonds, materials, working capital, capital expenditure, and listing expenses. SDCG is scheduled to list on Bursa Malaysia’s ACE Market on 19 September 2024, with a market capitalization of RM161.05 million. Mercury Securities Sdn. Bhd. serves as the Principal Adviser and Sole Underwriter. Applications for the IPO close on 6 September 2024.

SCIB Reports FY2024 Turnaround

Sarawak Consolidated Industries Berhad (SCIB) reported a revenue of RM166.9 million for FY2024, marking a 26.44 per cent increase from the previous year.
The company achieved a Profit Before Tax (PBT) of RM7.2 million, reversing a loss of RM22.1 million in FY2023.
The fourth quarter saw a 33.44 per cent year-over-year revenue growth to RM45.1 million, with a PBT of RM1.9 million.
SCIB’s acquisition of industrial plots in Kuching is expected to boost production capacity, aligning with its strategic focus on growth and operational efficiency.

Leon Fuat Posts Resilient Q2FY2024 Results

Leon Fuat Berhad reported a revenue of RM227.00 million for Q2FY2024, a 4.4 per cent increase from the previous year.
However, gross profit dropped by 29 per cent to RM21.07 million, leading to a 70.5 per cent decrease in profit before tax (PBT) to RM4.74 million.
The decline was driven by lower profit margins, higher operating and finance costs, and market volatility. Despite these challenges, the Group remains focused on operational efficiencies and strategic initiatives to navigate the competitive market.
As of 28 August 2024, Leon Fuat’s share price stood at RM0.52.

Minetech Posts Q1 FY2025 Growth

Minetech Resources Berhad reported a revenue of RM29.01 million for Q1 FY2025, a 9.56 per cent increase from the previous year.
The company’s gross profit also rose to RM3.90 million.
The Civil Engineering division led the growth with RM20.50 million in revenue, while the Energy segment contributed RM1.85 million, reflecting expansion in renewable energy.
Despite a drop in revenue from the previous quarter, Minetech’s Loss Before Tax narrowed significantly to RM1.20 million.
The company also completed its 22nd AGM, approving a rebranding to AIZO Group Berhad. As of 28 August 2024, Minetech’s share price stood at RM0.14.