Corporate Malaysia Roundup: Tenaga Profit Drops, Press Metal Shines, and Time dotCom Declares Special Dividend

Corporate Malaysia saw a flurry of earnings announcements on Thursday, spanning utilities, technology, property, healthcare, and consumer sectors. Here is a recap of the key developments.

Financial Results: The Winners

Press Metal Aluminium Holdings Bhd (KL:PMETAL) posted record 2QFY2026 earnings, with net profit rising 66% to RM801 million, boosted by higher revenue and a one-off gain from dilution of an associate stake. Excluding the RM115.4 million gain, core Patami was RM685.58 million, up 42% year-on-year. Revenue climbed 12% to a record RM4.69 billion, supported by higher realised metal prices. The group declared a second interim dividend of 2.5 sen per share, payable on September 29.

Time dotCom Bhd (KL:TIMECOM) posted its strongest quarterly earnings in a decade, with net profit rising 29% to RM134.63 million for the second quarter on higher data revenue and forex gains. Revenue was up by 7.2% to RM477.78 million. The company declared a special dividend of 5.41 sen per share, payable on September 25, citing profitability and cash strength.

IHH Healthcare Bhd (KL:IHH) recorded a 29.3% rise in 2QFY2026 net profit to RM573 million, supported by sustained demand, a more complex patient mix and price adjustments. Revenue grew by 11.9% to RM7.05 billion on higher patient volumes and improved inpatient revenue in select units. The group declared an interim dividend of 5.5 sen per share, payable on October 30.

Sunway Bhd (KL:SUNWAY) posted a 16.7% rise in net profit to RM318.59 million for 2QFY2026, supported by stronger property and healthcare segments despite weaker construction revenue. Revenue increased by 13.4% to RM2.91 billion. The group declared a first interim dividend of three sen per share, payable on October 15.

Malayan Flour Mills Bhd (KL:MFLOUR) posted a 53% rise in 2QFY2026 net profit to RM42.93 million, driven by better margins in flour and grain trading and stronger joint venture contributions. EPS increased to 3.46 sen from 2.27 sen. Its joint venture profit quadrupled to RM13.38 million, supported by poultry unit Dindings Tyson and PT Bungasari Flour Mills Indonesia. Revenue was flat at RM798.66 million as lower selling prices offset higher volumes. A first interim dividend of two sen per share will be paid on September 25.

Capital A Bhd (KL:CAPITALA) posted its second consecutive quarterly profit after disposing of its aviation business in January, while growth in aircraft maintenance and a turnaround in logistics offset softer travel demand. Net profit for the second quarter was RM23.87 million, down sharply from RM1.45 billion a year earlier, which was boosted by an RM1.66 billion aviation gain. Sequentially, net profit rose 6.5% to RM22.45 million. No dividend was declared.

Berjaya Food Bhd (KL:BJFOOD) narrowed its losses in FY2026, supported by stronger Starbucks operations, cost optimisation and store rationalisation. Full-year net loss was RM105.7 million versus RM287 million a year earlier, while revenue rose 5% to RM503.7 million. For the fourth quarter, net loss reduced to RM64.6 million from RM185.8 million, with revenue up 12% to RM130 million. Lower impairment charges on underperforming stores also contributed to the improvement.

IOI Properties Group Bhd (KL:IOIPG) doubled its FY2026 dividend to 16 sen per share (eight sen interim, eight sen special), after full-year net profit more than doubled and revenue hit a record RM4.44 billion. 4QFY2026 net profit fell by 36.5% to RM523.11 million despite a 55.8% revenue jump to RM1.39 billion, as fair-value gains on investment properties dropped sharply. The group said it enters its new financial year with record unbilled sales of RM2.51 billion, following RM3.91 billion in sales during FY2026.

Financial Results: The Underperformers

Tenaga Nasional Bhd (KL:TENAGA) reported a 23% drop in second-quarter net profit to RM888.8 million from RM1.16 billion a year earlier, mainly due to foreign exchange losses, though lower taxation eased the impact. Revenue rose 8.3% to RM18.6 billion, driven by stronger electricity sales and demand growth led by the commercial sector. An interim dividend of 25 sen per share was declared, with the payment date to be determined later.

Inari Amertron Bhd (KL:INARI) posted its weakest quarterly results in 14 years, with fourth-quarter net profit plunging 88% to RM6.15 million, following a fire incident that occurred on May 10 and lower revenue contributions. The company booked RM41.9 million in provisions for asset and inventory write-offs tied to its Philippine plant. Revenue fell 5.8% to RM288.94 million, mainly from reduced loading volume in its radio frequency segment.

Petron Malaysia Refining & Marketing Bhd (KL:PETRONM) stayed loss-making in 2QFY2026, posting a net loss of RM34.48 million versus a RM40.51 million profit a year earlier, due to reliance on imports during the Port Dickson refinery shutdown. This marked its second straight quarterly loss, despite revenue surging 44.7% to RM4.72 billion, driven by higher oil prices.

Chin Hin Group Bhd (KL:CHINHIN) reported a 63.9% drop in second-quarter net profit to RM7.68 million, its weakest quarterly earnings in nearly five years, due to a RM19.8 million fair value loss on other investments versus a RM8.98 million gain a year earlier. Revenue rose by 10.3% to RM1.05 billion, supported by stronger property, construction and building materials contributions. No dividend was declared.

Strategic Outlook

Hong Leong Bank Bhd (KL:HLBANK) is keeping its FY2027 loan growth target at 6%-7%, citing inflationary pressures from the Middle East conflict and strong deposit competition. The bank achieved 7.7% growth in FY2026, above guidance, but CEO Kevin Lam said it opted for prudence despite past performance, noting the aim is to avoid over-promising amid uncertainty.

The latest round of corporate announcements paints a mixed picture of Malaysia's business landscape. While several companies delivered strong earnings growth driven by operational efficiency and favourable market conditions, others faced significant headwinds from operational disruptions, fair value losses, and rising costs. As the second half of the year unfolds, investors will be watching closely for signs of sustained recovery across key sectors.