KUALA LUMPUR (Feb 23): Here is a brief recap of some corporate news and announcements that made the headlines on Thursday:

edotco Group Sdn Bhd, a 63%-owned subsidiary of Axiata Group Bhd, is seeking a buyer for its telecommunication tower business in Myanmar. Axiata said the decision would allow management to focus on assets that can create future value for its shareholders. — Axiata looking for buyer to exit Myanmar

Axiata posted a net loss of RM695.02 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), compared with a net profit of RM9.95 billion a year ago. For the full year, the telco group recorded a net loss of RM2 billion versus a net profit of RM9.75 billion in FY2022. Despite the losses, Axiata declared a dividend of five sen per share, bringing total dividends for FY2023 to 10 sen per share. — Axiata CEO sees single-digit growth for FY2024 revenue

YTL Corp Bhd's net profit for the second quarter ended Dec 31, 2023 (2QFY2024) rose sixfold to RM589.21 million from RM96.91 million a year ago, lifted by stellar results from listed units YTL Power International Bhd and Malayan Cement Bhd. Revenue for the quarter rose 14.2% to RM7.53 billion, from RM6.59 billion. For the first six months of FY2024 (1HFY2024), YTL Corp's net profit jumped eightfold to RM1.1 billion from RM133.53 million in 1HFY2023. Its 78.58% indirect-owned Malayan Cement posted a strong net profit of RM121.2 million – its best quarterly performance since 2013 – from RM15.26 million a year ago, as revenue jumped 29% to RM1.16 billion from RM896.97 million. — Strong MCement, YTL Power performance lift YTL Corp 2Q profit six-fold to RM589 mil

YTL Power, meanwhile, logged a fourfold rise in net profit to RM845.12 million in 2QFY2024, from RM198.82 million last year. Revenue rose 14.26% to RM5.37 billion from RM4.7 billion, lifted by all key segments. This lifted its 1HFY2024 net profit up fourfold to RM1.69 billion from RM372.1 million in 1HFY2023. The sustained performance was mainly thanks to stable earnings in Singapore, on the back of better margins and a stronger Singapore dollar against the Malaysian ringgit. — YTL Power’s 2Q net profit up four fold lifted by Singapore power biz

Maxis Bhd's net profit dropped 76% to RM56 million from RM233 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), dragged by tax settlement and penalties imposed by the Inland Revenue Board. During the quarter, the company paid RM73 million to settle its taxes. Quarterly revenue rose 7.4% to RM2.74 billion from RM2.55 billion, thanks to growth across consumer and enterprise businesses. For the full FY2023, its net profit dropped 13.8% to RM993 million from RM1.15 billion in FY2022, though revenue rose 4% to RM10.18 billion from RM9.79 billion. Maxis declared an interim dividend of four sen per share, bringing its full-year payout to 16 sen per share. — Maxis 4Q net profit tumbles 76%, pays RM73m to settle tax assessments, penalties

Sime Darby Plantation’s net profit fell more than 64% in the fourth quarter to RM200 million from RM562 million a year earlier, weighed by lower average realised prices. Revenue dipped 6.88% to RM5.28 billion from RM5.67 billion. A final dividend of 6.05 sen per share was declared, bringing its full FY2023 payout to 15 sen per share. For FY2023, the group made a net profit of RM1.86 billion, 25.24% less than the RM2.49 billion it made in FY2022, as revenue declined 12.37% to RM18.43 billion from RM21.03 billion. For FY2024, the group is expecting crude palm oil price to range between RM3,700 and RM3,900 per tonne. — Sime Darby Plantation’s 4Q net profit tumbles 64% on lower prices, flags high stockpile, Sime Darby Plantation expects palm oil prices to stay elevated this year

Eastern & Oriental Bhd (E&O) is in talks with banks to finalise the mechanism to raise between RM1 billion to RM1.5 billion for its Andaman Island project in Penang. It said the second development phase would require RM2 billion in funding. The group also reported that its quarterly net profit grew 14.47% to RM34.44 million from RM30.09 million a year earlier. Quarterly revenue surged 13.58% to RM92.23 million, from RM81.20 million in 3QFY2023. For 9MFY2024, E&O’s net profit more than tripled to RM97.13 million from RM28.45 million in 9MFY2023, while its revenue rose by 19.28% to RM301.50 million, from RM252.77 million.  — E&O in talks with banks to raise RM1.5 bil for Andaman Island project

Fuel retailer Petron Malaysia Refining & Marketing Bhd returned to black in its fourth quarter with a net profit of RM41.42 million, versus a net loss of RM21.37 million in the same period a year ago, thanks to accounting gain, as well as better fuel and refining margins. Revenue for the quarter rose 5.25% to RM4.49 billion from RM4.27 billion previously, driven by higher sales volume despite lower prices. It recommended a final single-tier dividend of 23 sen per share. For its full year, Petron's net profit dropped 9.49% to RM272.06 million from RM300.59 million in FY2022, as revenue fell 6.18% to RM17.22 billion from RM18.35 billion. — Petron Malaysia returns to the black in 4Q, helped by paper gain

Dayang Enterprise Holdings Bhd’s net profit rose sixfold in the fourth quarter ended Dec 31, 2023 (4QFY2023) to RM93.79 million from RM12.52 million a year ago. The group posted a dividend of 1.5 sen per share, bringing its full-year dividend per share to three sen, unchanged from last year. Revenue rose 57.93% to RM351.08 million, from RM222.3 million, as it continued to see job orders despite the monsoon season, adding to improved daily charter rates. For FY2023, Dayang’s net profit rose 80.6% to RM218.92 million from RM121.2 million, while its revenue rose 13.09% to a record high of RM1.11 billion from RM984.18 million. — Dayang books record revenue in FY2023, best profit since FY2019