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KUALA LUMPUR (May 27): Press Metal Aluminium Holdings Bhd’s net profit doubled to a record high of RM205.72 million or 2.55 sen per share in the first quarter ended March 31, 2021 (1QFY21) from RM102.57 million or 1.27 sen per share a year ago, driven by higher aluminium demand and prices. Quarterly revenue expanded 14.8% to RM2.1 billion from RM1.83 billion a year before, the group’s filing with Bursa Malaysia showed. “The performance in this. ....
Aluminium Holdings Bhd is proposing to undertake a bonus share issuance of 4.038 billion new shares on the basis of one bonus share for every one existing share held, on a yet-to-be-determined entitlement date. The company, which is Southeast Asia s largest aluminium smelter, said in a statement the bonus issue is to reward shareholders for their loyalty and continuous support as well as allow them to have greater participation in the group s equity while retaining their precentage of equity interest. The shares will also become more affordable and appealing to a wider group of investors, which could improve the liquidity and marketability of the shares. ....
Press Metal proposes one-for-one bonus issue theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Press Metal counts on new smelting plant Press Metal Aluminium Holdings Bhd is expected to ride on the strong recovery of aluminium prices when its new Phase 3 smelting plant in Samalaju Industrial Park, Bintulu, commence commercial production in two months. The new smelter will raise the group’s production capacity by 42% to 1.08 million tonnes from 760,000 tonnes per annum. Press Metal, South-East Asia’s largest integrated aluminium producer, operates aluminium smelting plants in Bintulu and Mukah. “Our plan to commission the Phase 3 smelter in January 2021 is on track, increasing our capacity by 42% from 760,000 up to 1,080,000 tonnes per annum. This expansion is timely as aluminium price has strengthened by more than 40% over the last few months and we see that the world is looking at further economic recovery in 2021, ” said group chief executive officer Tan Sri Paul Koon (pic) in a statement as the company reported its latest quarterly results. ....