KLK, Batu Kawan, Khee San, Foodie Media, Sime Darby Property, WCE Holdings, Sunway Construction, Zetrix AI, Guan Chong, Cahya Mata Sarawak, Ajinomoto, Pestec
This article provides a recap of corporate announcements from Bursa Malaysia, highlighting significant financial losses for Kuala Lumpur Kepong Bhd due to impairments and positive earnings growth for Sime Darby Property. It also notes leadership changes at Khee San Bhd and a new marketing partnership between Foodie Media and Tourism Malaysia.
Why it matters
These updates provide essential financial health indicators for investors tracking the Malaysian stock market and specific corporate performance.
BURSA SGX Home Companies in the news Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Aug 24): Here is a brief recap of some corporate announcements that made the news on Monday.
Kuala Lumpur Kepong Bhd (KL: KLK ) posted a net loss of RM1.34 billion for the third quarter after booking a RM1.62 billion impairment on its stake in UK-listed Synthomer plc, reflecting the associate’s weak market value. The non-cash adjustment was aimed at removing earnings drag, with no impact on cashflow or dividends. Excluding the one-off charge and Synthomer losses, KLK’s quarterly profit would have risen 28% to RM444.8 million. The impairment also pushed parent Batu Kawan Bhd (KL: BKAWAN ) into a RM653.17 million quarterly loss, compared with a RM182.92 million profit previously. — KLK bites the bullet with hefty Synthomer impairment, dragging group into the red in 3Q
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