KUALA LUMPUR, May 4 (Bernama): Petron Malaysia Refining & Marketing Bhd (Petron Malaysia) is confident that through the resilience of its operations, strong financial position and prudent risk management, the company’s business performance will improve as the country makes progress towards recovery.
Chairman Ramon S. Ang said Malaysia’s economy is projected to gradually recover in 2021 as market confidence improves supported by the rollout of vaccines targeting the majority of the population. This increases our confidence in seeing significant improvements in the business environment which in tandem with our financial resilience, operational excellence, and brand-building efforts will make for a better and stronger year for the company, ” he said in Petron Malaysia’s 2020 annual report.
Refining and Marketing Bhd’s net profit for its fourth quarter ended Dec 31,2020 rose 45% to RM42.02mil from RM28.97mil in the previous corresponding period, boosted by improved refining margins and net inventory gains from recovering oil prices in the final quarter of 2020.
In a statement, it said revenue in the fourth quarter was, however, lower at RM1.51bil, compared with RM2.91bil a year earlier.
“Petron’s sales volume in the fourth quarter of 2020 was, however, still lagging versus the same quarter in 2019 due to the implementation of another conditional movement control order, slowing down movement and economic activity.
KUALA LUMPUR (Feb 23): Based on corporate announcements and news flow today, companies in focus tomorrow (Feb 24) may include: Nestle (M) Bhd, Petronas Chemicals Group Bhd, Perak Transit Bhd, IOI Corp Bhd, Leong Hup International Bhd, Sunway Construction Group Bhd, Petron Malaysia Refining & Marketing Bhd, ATA IMS Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Manulife Holdings Bhd, Frontken Corp Bhd, Samchem Holdings Bhd, Berjaya Sports Toto Bhd, Supermax Corp Bhd, Genting Malaysia Bhd and AT Systematization Bhd.
Nestle (M) Bhd s (Nestle Malaysia) net profit for the fourth quarter ended Dec 31, 2020 ticked up 0.5% to RM132.47 million from RM131.82 million a year earlier. The group said its revenue registered a 3.1% increase to RM1.37 billion from RM1.33 billion a year ago, underpinned by sales in Out-of-Home channels as restrictions eased in the second half of the year under the Recovery Movement Control Order. Earnings per share increased marginally to 56.5 sen from 56.21 sen prev
KUALA LUMPUR (Feb 23): Petron Malaysia Refining & Marketing Bhd’s net profit for the fourth quarter ended Dec 31, 2020 (4QFY20) rose 45.06% to RM42.02 million from RM28.97 million a year ago, mainly due to inventory holding gains and improved refining margin.
Its revenue, however, fell 48.09% to RM1.51 billion, from RM2.91 billion, due to lower sales volume and oil prices, its filing to Bursa Malaysia showed.
The group said, due to reduced movement and economic activities amid the conditional movement control order during the period under review, the group recorded lower sales volume at 6.8 million barrels during the quarter, as compared to 9.2 million barrels sales volume over the same period in 2019.
KUALA LUMPUR (Feb 23): The main index at Bursa Malaysia gained 0.34% in early trade Tuesday on bargain hunting, while home furniture manufacturer Mobilia Holdings Bhd made an impressive start on the ACE Market of Bursa Malaysia and was both the most actively traded and top gaining stock in early trade.
At 9.05am, the FBM KLCI gained 5.32 points to 1,575.78.
The early gainers included Mobilia, Khind Bhd, Pimpinan Ehsan Bhd, Hengyuan Refining Company Bhd, Petronas Gas Bhd, Petronas Chemicals Group Bhd, PPB Group Bhd, Petron Malaysia Refining & Marketing Bhd and Heineken Malaysia Bhd.
Meanwhile, Mobilia rose 51.5 sen to 74.5 sen with 80.32 million shares traded.