News Highlights – 51��

MBM Resources announces appointment of Group Chief Executive Officer

mbmradmin — Thu, 04 Jan 2024 05:45:22 +0000

MBM Resources announces appointment of Group Chief Executive Officer

MEDIA STATEMENT

Kuala Lumpur, 2^nd January 2024 – 51�� (“MBM Resources”), today announced the appointment of En Rizal Mohd Zin as its new Group Chief Executive Officer effective 2nd January 2024.

En Rizal, aged 48, holds a Bachelor of Arts in Engineering and a Master’s in Engineering from the University of Cambridge, UK.

He has over 20 years of experience in the fields of corporate strategy planning and execution, transformation, performance management, mergers and acquisitions (M&A) and investment management. En Rizal was previously the Group Chief Strategy Officer of MNRB Holdings Berhad. Prior to that, he served as a Director of Investments at Ekuiti Nasional Berhad where he was involved in numerous investments and divestments, while creating value for its portfolio companies.

The Board of Directors, Management and staff of MBM Resources are very pleased to welcome En Rizal to the Group and look forward to working closely with him in continuing our journey to be the leading automotive group in Malaysia.

END.

ABOUT MBM RESOURCES BERHAD

51�� and its subsidiaries (“MBMR” or “the Group”) is an automotive conglomerate with diverse investments in the automotive industry. The Group has two core business areas which are Motor Trading, where MBMR is involved in the distribution and dealership of major international and local vehicle brands in Malaysia; and Automotive Parts Manufacturing consisting of steel wheels, safety restraint products (airbags, seat belts and steering wheels) and noise, vibration and harshness (NVH) products. The Group is a significant parts supplier to all major car manufacturers in the country as well as being well represented in all segments of the automotive retail market, including the commercial vehicle segment, and from compact entry level cars to luxury cars in the passenger vehicle sector. These include brands like Daihatsu and Hino in the commercial sphere, and passenger vehicle brands like Perodua, Volvo and Volkswagen.

The post MBM Resources announces appointment of Group Chief Executive Officer appeared first on 51��.

MBM Resources 2Q net profit jumps 114%, declares six sen dividend

MBMR Dev — Wed, 21 Aug 2019 01:41:00 +0000

KUALA LUMPUR (Aug 20) – MBM Resources Bhdâ€s net profit more than doubled to RM74.04 million in the second quarter ended June 30, 2019 (2QFY19), from RM34.55 million a year ago, mainly lifted by a one-off RM24.8 million gain on disposals.

The group recognised the gain on the disposal of a 22% shareholding in its associates Hino Motors Sales (M) Sdn Bhd and Hino Motors Manufacturing (M) Sdn Bhd.

In a filing with Bursa Malaysia, the group said the higher earnings were also due to a better performance on all fronts.

Quarterly earnings per share increased to 19.94 sen, from 8.83 sen previously, while revenue was up 15.42% to RM558.05 million, from RM483.48 million.

MBM Resources declared a first interim dividend of six sen per share, payable on Sept 19.

For the cumulative first half of the year (1HFY19), the group saw its net profit grow 83.62% to RM123.69 million, from RM67. 36 million in the same period last year. Revenue rose 15.15% to RM1.08 billion, from RM935.41 million.

On prospects, MBM Resources said the global market and economic environment for the second half of the year are expected to be challenging, which will have an impact on the local economy.

Notwithstanding that, the group remains on track with its plans and is optimistic with its performance, given the strong customer demand for the brands within the group.

Shares of MBM Resources closed up 30 sen or 8.9% at RM3.67 today, valuing the group at RM1.44 billion. Year-to-date, the counter has risen by 72%.

Source URL:

The post MBM Resources 2Q net profit jumps 114%, declares six sen dividend appeared first on 51��.

MBMR rises 2.88% in early trade on strong 3Q earnings

MBMR Dev — Thu, 24 Nov 2016 13:45:00 +0000

KUALA LUMPUR (Nov 24): Shares of MBM Resources Bhd (MBMR) rose 2.88% in early trade today after its net profit for the third quarter ended Sept 30, 2016 (3QFY16), which grew 147% to RM21.3 million from RM8.62 million a year ago.

At 9.02am, MBMR rose 7 sen to RM2.50 with 3,600 shares traded.

In a filing with Bursa Malaysia, it said the group’s share of associates’ results recorded a 120.1% rise to RM29.02 million as the Bezza, launched in July, was well received. It also registered improved sales volumes from Hino Motors Sales (M) Sdn Bhd.

MBMR holds a 20% stake in Perodua, or Perusahaan Otomobil Kedua Sdn Bhd, and a 42% stake in Hino Motors.

Revenue also climbed 5.05% to RM431.94 million in 3QFY16 from RM411.18 million a year ago on a better product mix.

However, its net profit for the cumulative nine-month period (9MFY16) was down 20% to RM58.5 million against RM72.99 million in the same period last year. Revenue was down 10% to RM1.23 billion from RM1.38 billion previously.

The post MBMR rises 2.88% in early trade on strong 3Q earnings appeared first on 51��.