KUALA LUMPUR (Dec 28): Here is a brief recap of some corporate announcements that made news on Thursday.

Chemical trading outfit Analabs Resources Bhd's net profit doubled to RM13.04 million for the second quarter ended Oct 31, 2023 from RM5.51 million a year ago, led by improved manufacturing business and better cost control, along with increased dividends from quoted share investments. Quarterly revenue increased by 25.5% to RM44.87 million from RM35.75 million for the previous corresponding quarter, driven by a surge in sales of melamine-faced chipboards. The investment holding and property letting segment's revenue also jumped by 70.1% to RM7.8 million compared with RM4.6 million a year ago, primarily due to higher dividends received from quoted share investments. Analabs doubles 2Q net profit to RM13m as manufacturing sales improve, declares 2.1 sen dividend

Crescendo Corp Bhd saw its net profit for the third quarter ended Oct 31, 2023 rise by 270% to RM17.97 million compared with RM4.86 million a year earlier, underpinned by higher properties sales compounded with high-margin industrial land sale. Quarterly revenue surged by 98.56% to RM101.79 million from RM51.26 million for the previous year on the back of higher revenue from the property development and manufacturing and trading segments. Crescendo Corp's 3Q net profit climbs to RM18m on higher property revenue

Kim Loong Resources Bhd's net profit rose 31% to RM47.97 million for the third quarter ended Oct 31, 2023, from RM36.74 million a year ago, driven by increased production of fresh fruit bunches and higher sales of crude palm oil. Quarterly revenue saw an 11% rise to RM448.68 million from RM402.41 million for the corresponding quarter of the previous year. Kim Loong posts 31% rise in 3Q net profit to RM48m, declares three sen dividend

Equipment and engineering parts provider UMS Holdings Bhd has disposed of its entire 45.13% stake in oil and gas equipment supplier MKS Sdn Bhd to its major shareholder NGT Holdings Sdn Bhd for RM6.11 million in a related party transaction. The disposal, by UMS’ wholly-owned unit Aqua Terra Union Oilfield Supply Sdn Bhd, sees the group booking expected gains of RM5.4 million, as its cost of investment in MKS totalled RM714,802. UMS is a consistent dividend payer, with dividends paid at 10 sen per share annually from FY2014 to FY2019 before the pandemic resulted in lower dividends of six sen per share in FY2020 and FY2021. UMS disposes 45% stake in associate for RM6 mil in related party transaction

Datuk Seri Liew Kok Leong has stepped down as the executive chairman of ARB Bhd, less than three months after being redesignated to the position. Liew cited pursuing other interests as the reason for his resignation, which is effective immediately. Liew, 50, was redesignated as ARB Bhd chairman on Oct 11, succeeding Khor Ben Jin who had resigned from the position to pursue personal interests and commitments. Before his recent role, Liew had been a board member since Aug 30, 2018. He was also the company's largest shareholder with a 22.52% stake, including a 13.12% direct stake and 9.4% indirect shareholdings through Ukay One Sdn Bhd. ARB's largest shareholder Liew Kok Leong steps down as executive chairman

Wires and cable manufacturer Master Tec Group Bhd, en route to an ACE Market listing on Jan 29 next year, has set an issue price of 39 sen per share for its initial public offering (IPO) exercise to raise RM111.39 million, of which about 45% or RM49.73 million will go to a selling shareholder via an offer for sale. The IPO comprises a public offering of 285.6 million new shares, or 28% of the enlarged share base of 1.02 billion. Of the RM111.39 million to be raised, the remaining RM61.66 million or 55% for the company will come from the public issue portion of 158.1 million new shares. The 39 sen issue price is at a price-earnings multiple of 20.31 times based on the group's net profit of RM19.56 million or 1.92 sen per share for the financial year ended Dec 31, 2022. ACE Market-bound Master Tec to price IPO at 39 sen apiece to raise over RM111m

Metal fabricator Wentel Engineering Holdings Bhd, which is eyeing to list on the ACE Market, has entered into an underwriting agreement with TA Securities Holdings Bhd to underwrite a total of 57.5 million new shares, being the portion made available to the Malaysian public via balloting. Wentel Engineering's initial public offering (IPO) entails a public issue of 273.2 million new ordinary shares and an offer for sale of 46 million existing ordinary shares. Of the 273.2 million public issue shares, 57.5 million will be made available to the Malaysian public via balloting and 33 million will be allocated to the eligible directors, employees and others. Proceeds from the IPO, the amount of which has not been clarified, will be utilised to part finance the construction of two blocks of single-storey factory with double-storey office and two blocks of workers’ hostel, collectively known as the company's new manufacturing plant. Wentel Engineering will also utilise the IPO proceeds to part finance the purchase of new machinery and equipment for the new manufacturing plant. ACE Market-bound Wentel Engineering inks underwriting agreement with TA Securities