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KUALA LUMPUR: Unitrade Industries Bhd (UIB) has declared a first interim single-tier dividend of 0.44 sen per share for the financial year ending March 31, 2024 (FY24). This translates to a dividend payout of RM6.9 million. Managing director Nomis Sim Siang Leng said the dividend declared reflects the company’s commitment to shareholder value creation and serves as a token of appreciation for their continued confidence in UIB. “It also aligns with our dividend policy to distribute up to 30 per cent of our net profit while prioritising a balanced approach that ensures both shareholder rewards and sufficient capital for future growth initiatives,” he said in a statement. UIB reported an 11.2 per cent year-on-year (YoY) revenue growth of RM1.14 billion, driven by the wholesale and distribution segment. Net profit for the period stood at RM23.1 million. UIB maintains a consistent record of rewarding shareholders. The company distributed dividends of 0.82 sen per share and 0.30 sen per share for FY22 and FY23, respectively, a 30 per cent dividend payout for both financial years.

KUALA LUMPUR: Dagang NeXchange Bhd’s (DNeX) wholly-owned subsidiary Dagang Net Technologies Sdn Bhd (DNT), signed a memorandum of understanding (MoU)  with Korea Trade Network (KTN) to develop services for the trade facilitation industry in the local and regional markets. Under the agreement, both companies will deploy home-grown technologies from Dagang Net and global capabilities from KTN in key areas such as port community systems, electronic customs and information technology (IT) consultancy services. The partnership will involve the integration of technologies and capabilities of both parties in the areas of integrated risk management system, customs cargo management and clearance system, port community system, customs processing and analytics/big data, artificial intelligence and machine learning, robotic process automation, blockchain and consultancy services. Moreover, the partnership can bring together the expertise of both parties to benefit their customers, specifically in digital and technology transformation of trade facilitation. The MoU was formalised in Cyberjaya, where Dagang Net’s chief executive officer Wan  Ahmad Syatibi Wan Abd Manan signed on behalf of the company, and KTN was represented by its chief executive officer Young-Hwan Cha. DNeX executive chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, group chief operating officer Azhar Othman, Dagang Net chief technology officer Jasbendarjit Kaur, and KTN director Sung-Heun Ha were also present at the event. According to Syed Zainal, the partnership aims to jointly develop trade facilitation services with enhanced features, leveraging both parties’ technologies and capabilities to improve the overall efficiency and productivity of the trade ecosystem. “This partnership allows us to work with KTN to expedite the transformation of the trade ecosystem, capitalising on our capabilities, breadth, and depth of offerings and technologies backed by our proven track records,” he said in a statement. “We need to continue embedding innovation in our services and product offerings, and our partnership with KTN is one such way towards this end,” he added. Since its establishment in 1989, Dagang Net has pioneered initiatives to create and integrate paperless, electronic customs-related services to facilitate and streamline international trading processes for import and export. Dagang Net has also been the operator of the National Single Window  (NSW) for trade facilitation for Malaysia since 2009, where the system facilitates electronic customs-related transactions and duty payments and electronic document transfer between members of its trading community. KTN is Korea’s national paperless trade infrastructure operator. In collaboration with the Korean government, it implements and operates the uTradeHub platform for all businesses in international trade. Leveraging the experience, KTN has successfully implemented e-customs systems in other countries.

KUALA LUMPUR: Duopharma Biotech Bhd (DBB), via its subsidiary Duopharma Marketing Sdn Bhd (DMSB), signed an exclusive distributorship agreement with Owen Mumford Sdn Bhd (OMSB), a subsidiary of UK-based medical device company Owen Mumford, for the distribution of medical devices in Malaysia, Singapore and Brunei. As per the agreement, DBB will distribute a range of diabetes care and eye care products, namely the Unifine, Pentips and Unifine Pentips Plus insulin pen needles, Unistik 3 and Unilet Excelite lancets and Autodrop eye drop guide, to government and private healthcare facilities, other patient care facilities and retail outlets, with potential expansion of the range of products distributed. Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Wira Arham Abdul Rahman said the alliance between DBB and OMSB integrates two pivotal sectors of healthcare -pharmaceuticals and medical devices. “This integration showcases our dedication to improving healthcare access through innovative technologies, embodying our commitment to the well-being of our population. “The medical devices sector is prioritised in Mission 1 of the New Industrial Master Plan 2030, where the vision is to transform Malaysia into an innovation-driven manufacturing hub. “It underscores the capacity building in the medical devices and pharmaceutical industries by leveraging innovation and high-skilled talent to drive a high complexity economic agenda,” he said in a statement. DBB group managing director Leonard Ariff Abdul Shatar said OMSB’s innovative product range is a great fit for DBB’s current offerings to patients, healthcare providers and carers. “As a leading Malaysian healthcare company, we believe that having greater access to quality medical devices can improve patient compliance to routine care procedures such as blood sugar testing and insulin injections among diabetics, thus leading to better healthcare outcomes in the longer term. “This is especially important in light of the growing diabetes burden in Malaysia. “Besides, this is also in line with our environmental, social and governance (ESG) focus on improving access to healthcare, whereby providing more options to patients means improving their ability to get the care that best suits their needs,” he said. The prevalence of diabetes among Malaysian adults has grown from 11.2 per cent in 2011 to 18.3 per cent in 2019, with the disease is expected to affect 7 million Malaysian adults by 2025 at a prevalence of 31.3 per cent. The British High Commissioner to Malaysia Ailsa Terry said the coming together of DBB’s pharmaceutical expertise and OMSB’s acute understanding of medical devices will benefit and support millions of people living with diabetes. “This partnership represents what can be achieved when the very best from the United Kingdom (UK) and Malaysia join forces to support something incredibly important—the health and well-being of its people,” she said. Founded in the UK, OMSB is a pioneer in medical design innovation that revolutionised diabetes care with the first injector pen and currently has a wide product portfolio covering diabetes care, blood and patient specimen collection, point-of-care testing, neuropathy screening, ophthalmology care and sexual healthcare. “Since OMSB Malaysia began operations in 2015, we have focused on elevating healthcare through engagement with patients and healthcare professionals and tailoring medical devices to meet their needs, besides conducting ongoing education to ensure the correct usage of devices for optimal healthcare outcomes. “We are committed to delivering innovative, high-quality products and have launched initiatives such as including pen needles in complimentary bespoke starter kits at local government hospitals and providing vouchers to support patients in the B40 demographic. “With nearly RM100 million invested in our manufacturing facilities, operations and programmes in Malaysia since 2015, we aspire to continue serving as a source of advanced medical solutions in the country as well as the surrounding Asian region,” OMSB regional managing director Shirley Loh said.

KUALA LUMPUR: Domestic banks experienced steep margin compression and increased operating expenses in 2023, which were partly balanced by stronger non-interest income and lighter provisioning charges. RAM Rating Services Bhd said the average pre-tax return on assets and return on equity (ROE) of eight selected local banks was lower at 1.36 per cent and 13.6 per cent, respectively, compared to 1.41 per cent and 14.0 per cent recorded in 2022. The rating agency said at the after-tax level. However, the one-off Cukai Makmur’s absence lifted profitability metrics higher than the previous year. Further, the average net interest margin (NIM) of the eight banks narrowed by 28 bps to 2.07 per cent—the lowest level seen in the last five years. While multiple overnight policy rate (OPR) hikes initially resulted in considerable margin expansion in 2022, RAM Ratings noted that banks have grappled with higher funding costs in the past year as deposits gradually repriced upwards. The firm further said stiffer competition for deposits and the expiration of forbearance allowing the use of government securities for statutory reserve requirement compliance exacerbated the pressure on margins. “As we expect the OPR to be kept unchanged this year, NIMs are anticipated to stay steady although modest compression is possible should deposit competition intensify,” RAM Ratings’ co-head of financial institution ratings Wong Yin Ching said in a statement. Domestic loans grew by a fairly strong 5.3 per cent in 2023. While lending momentum was tepid for much of the year, it accelerated in the fourth quarter (Q3), led by businesses. RAM Ratings noted that early signs of a recovery in global trade and the robust job market are expected to support loan demand this year. “However, as we remain watchful of challenges in the global macroeconomic environment, elevated cost pressures and petrol subsidy retargeting, loan growth for 2024 is projected to ease somewhat,” the agency said. On the asset quality front, given lower reported provisioning expenses in 2023, the average credit cost ratio of the eight banks improved from 30 bps to 23 bps. A large portion of management overlays set aside during the Covid-19 pandemic remains on bank balance sheets. ”Looking ahead, banks’ profitability should stay intact in the coming year, but the upside will be limited in light of prevailing uncertainties in the operating landscape,” Wong said.