CORPORATE

Bumi Armada Reports Full Year 2017 Net Profit of RM352 Million

 |  Tuesday, 27 February 2018 15:36  |  Published in CORPORATE

Malaysia-based international offshore energy facilities and services provider Bumi Armada Bhdyesterday announced its fourth quarter (Q4) and full year (FY) 2017 financial results. 

The Group saw revenue for FY 2017 increase by 82.3% to RM2.4 billion over FY 2016. This increase was mainly due to higher revenue from the FPO business, which increased by 263.5% in FY 2017, versus FY 2016. The increase in the FPO revenues was mainly due to stronger contributions from the four new FPO projects delivered over the course of the year. 

Public Bank Group Net Profit Rose in FY17

 |  Monday, 26 February 2018 15:51  |  Published in CORPORATE

Public Bank Group has registered a 5.1 per cent increase in net profit to RM5.47 billion from RM5.21 billion previously for the financial year ended 31 December 2017.

Public Bank said for FY17 its revenue rose by 3.8 per cent to RM20.858 billion from RM20.102 billion. 

Seacera Buys Construction Firm with Profit Guarantee of RM70 Million

 |  Friday, 23 February 2018 15:56  |  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 Seacera Builders Sdn Bhd, a wholly-owned subsidiary of the Company, has entered into a conditional share sale- with LT Century Development Sdn Bhd and LTC Holdings Sdn Bhd for the proposed acquisition of the Sale Shares representing 70% equity interest in Teras Sari Resources Sdn Bhd for a purchase consideration of RM35 million.

A filing with Bursa Malaysia showed that the Purchase Consideration will be fully satisfied via the issuance of 35 million new ordinary shares of Seacera at an issue price of RM1 per share. The Proposed Acquisition comes with a cumulative profit before tax guarantee of RM70 million for the financial year ending 31 December 2018, 31 December 2019, 31 December 2020 and 31 December 2021.


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