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Telekom Malaysia Bhd chalked up a pre-tax profit of RM1.36 billion for the financial year ended Dec 31, 2010, a jump by 47.6 per cent compared with RM921.6 million recorded in 2009.

Revenue increased to RM8.791 billion compared to RM8.608 billion, fuelled by increasing demand for Internet and data services.

Speaking at a press conference after announcing the company’s annual results today, Group Chief Executive Officer Datuk Seri Zamzamzairani Mohd Isa said TM’s market position remained strong despite the challenging economic environment and intense competition.

“2010 was nothing short of historic for TM. With the launch of HSBB (high speed broadband) and UniFi, we are transforming the network to a fully IP network,” he said.

Asked on capital expenditure for the financial year 2011, he said it would be about RM3 billion before the government’s contribution on HSBB have been allocated.

“For financial year 2010, HSBB capex of RM1.6 billion was lower than anticipated. In one year since the launch, we have achieved more than 780,000 premises passed and have installed the service to close to 50,000 customers to date.”

TM launched UniFi, a HSBB project in March 2010 and was the first to introduce tripple play services in the country.

Zamzamzairani also said while the company was on track to meet the UniFi target of 1.1 million premises passed and 78 exchange areas by end of this year, the company aimed to achieve 1.3 million premises passed by end of 2012.

“Due attention would be given to ensure the rollout of UniFi would be effectively managed from the aspect of cost effectiveness and customer satisfaction,” he explained.

On the outlook for financial year 2011, TM targets a revenue growth of 2.5 per cent and earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 32 per cent.

TM’s EBITDA margin was lower at 33.1 per cent for the financial year 2010 compared to 34 per cent in 2009 due to higher expenses related to UniFi and the National Broadband Initiative related activities.

Internet revenue increased by 5.9 per cent to RM1.653 billion. TM’s current cash position stands at RM3.5 billion. The company annnounced a dividend of 29 sen per share.

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Kurnia Asia Bhd reported a net profit of RM32.32mil for the period ended Sept 30, reversing a net loss of RM12.11mil incurred in the previous corresponding period.

This is mainly driven by the strong turnaround performance of the group’s investment portfolio.

In a filing with Bursa Malaysia, Kurnia Asia also attributed the strong performance to an improvement in its underwriting performance year-on-year.

However, group revenue dropped 16.3% to RM255mil from RM304.5mil in the same period last year.

Its underwriting surplus for the quarter was RM3.68mil, an improvement of 38% from RM2.67mil a year ago. Its gross premium year-on-year declined 18.1% to RM231.32mil due to the implementation of more stringent risk selection guidelines.

The largest motor insurer in Malaysia, Kurnia Asia is changing its financial year-end to Dec 31 from June 30.

Executive chairman Tan Sri Kua Sian Kooi said despite operating in an increasingly competitive environment, Kurnia Asia was able to chart positive underwriting performance for five consecutive quarters.

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1. Pos Malaysia Bhd’s net profit for the second quarter ended June 30 was up 24.3% at RM15.79mil against RM12.7mil in the previous corresponding period mainly due to the write-back of impairment in value of marketable securities.

Revenue was up 1.8% at RM227.27mil from RM223.17mil while earnings per share stood at 2.94 sen from 2.37 sen.

2. Timber and oil palm group Ta Ann Holdings Bhd’s net profit for the second quarter ended June 30 was up 12.2% at RM22.77mil against RM20.3mil in the previous corresponding period mainly due to significantly higher export log sales and an unrealised exchange gain of RM7.7mil.

Revenue was down 16.4% at RM161.97mil from RM193.7mil while earnings per share stood at 3 sen from 5 sen.

3. Alliance Financial Group Bhd’s net profit for the first quarter ended June 30 was down 62.8% at RM46.22mil against RM124.35mil in the previous corresponding period on lower net interest income resulting from the drop in the overnight policy rate from 3.5% to 2%, the company said.

In a filing with Bursa Malaysia yesterday, the banking group said higher allowance of RM45.3mil for losses on loans, advances and financing as well as higher provision of RM25.9mil for impairment on an investment security had also affected the group’s profit during the quarter.

Revenue was also down by 8% at RM387.89mil while earnings per share stood at 3 sen against 8.1 sen before. However, the group’s gross loans and advances increased by 2% to RM20bil in the first quarter compared with the preceding quarter.

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• Higher Profit for Telekom
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• Bursa profit down in first quarter
• Nestle (M) Bhd has posted a 6.37% increase in net profit