Keck Seng (M) Bhd’s net profit more than doubled for the fourth quarter ended Dec 31, 2023 (4QFY2023) from the preceding quarter, despite lower revenue, due largely to a reversal of impairment loss recognised on an overseas hotel, lower cost of sales, and lower foreign currency translation losses.
Tropicana Corp Bhd managed to halve its net loss for its fourth quarter on a year-on-year basis, as it recorded lower expenses, and higher revenue and other income.
UOA Development Bhd's fourth quarter net profit more than doubled to RM118.72 million from RM53.06 million a year ago, helped by a progressive recognition of its ongoing development projects.
UEM Sunrise Bhd is lifting its dividend payout to 40%-60% of net profit, from 20%-40% currently, as part of its dividend policy revision that was approved on Tuesday.
OSK Holdings Bhd’s net profit for its fourth quarter of financial year 2023 fell 19.29% to RM97.8 million from RM121.17 million a year earlier, despite higher revenue, as its bottom line was crimped by higher tax expenses and cost of sales, and lower share of profits from its associates and a joint venture (JV).
Property developer Mah Sing Group Bhd said on Tuesday its net profit climbed 38% in the fourth quarter of 2023 from a year earlier, thanks largely to higher margin and lower net finance costs.
“ERL is allowed to impose market-driven fares which will benefit the public, the government and ERL."
Chung said the tax consultant industry had not been properly consulted nor forewarned about the change that came into effect on Monday.
The service tax would be imposed on M&R services starting from Monday (Feb 26).
The interest cost was recorded at RM38.8 million compared with RM34.7 million previously.
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