British American Tobacco Malaysia decline in earnings

 |  Wednesday, 14 February 2018 16:33  |  Published in CORPORATE

British American Tobacco (Malaysia) Berhad (BAT Malaysia) announced its financial results for the fourth quarter of the year ended 31 December 2017.  

On a year-on-year (Y-O-Y) comparison, the company’s revenue and profit from operations were down following the legal market size decline compared to 2016 and the significantly reduced export volumes as a result of the factory closure. 

Seacera To Acquire 70% Equity in Teras Sari Resources

 |  Wednesday, 14 February 2018 11:32  |  Published in CORPORATE

Seacera Group Bhd, a Bursa Malaysia Main Market listed company that is involved in the tile manufacturing, property and construction businesses, announced that its wholly-owned subsidary Seacera Builders Sdn Bhd has entered into a heads of agreement (HOA) with LT Century Development Sdn Bhd and LTC Holdings Sdn Bhd (Vendors) for the proposed acquisition of 70% equity interest in Teras Sari Resources Sdn Bhd (TSRSB) for a purchase consideration to be determined at a later date.

On the same day, TSRSB has received and accepted a Letter of Intent (LOI) from Jabatan Kerja Raya Malaysia for the project “Menaiktaraf Jalan Persekutuan (FT003) Dari Bandar Pekan ke Kampung Sungai Miang, Pekan, Pahang” which comes with a contract value of RM338.14 million.

Damansara Realty Returns to Black with RM17.8 Million Net Profit For 2017

 |  Wednesday, 14 February 2018 11:28  |  Published in CORPORATE

Damansara Realty Bhd moved into profitability after three consecutive years of loss, recording a profit after tax of RM17.8 million for its financial year ended 31 December 2017, against a net loss of RM27.8 million last year. Revenue from its three main core segments increased by 36 percent to RM249.4 million against RM183.2 million in 2016.

The Group’s outstanding performance is attributed to the successful implementation of its turnaround programme that was introduced in November 2016 by the incoming Group Chief Executive Officer, Ts. Brian Iskandar Zulkarim. 

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