03/03/2025

BIZ & FINANCE MONDAY | MAR 3, 2025

16

Topvision records steady Q4 revenue growth

AGX Group delivers strong quarterly, full-year results PETALING JAYA: AGX Group Bhd, a third party logistics solutions provider announced its financial results for the fourth quarter (Q4FY24) and financial year ended Dec 31, 2024 (FY2024), demonstrating steady revenue growth and strategic business expansion. In the current quarter under review, AGX recorded a revenue of RM66.80 million, marking a 37.2% increase from RM48.67 million in the corresponding quarter of the previous year (Q4FY23). The growth was primarily driven by the sea freight forwarding segment, which contributed RM22.41 million or 33.6% of total revenue, followed by aerospace logistics at RM18.55 million or 27.8%, and air freight forwarding at RM14.89 million or 22.3%. The group reported a gross profit (GP) of RM15.18 million, translating into a GP margin of 22.7%. Profit after taxation (PAT) for the quarter surged to RM7.29 million, a significant increase compared to RM0.60 million in Q4FY23. The strong earnings growth was primarily driven by a higher share of results from associates, which contributed RM7.92 million. For FY2024, the group recorded a total revenue of RM238.48 million, representing a 27.6% increase from RM186.83 million in the previous financial year (FY2023). The sea freight forwarding segment was the largest contributor, generating RM92.05 million or 38.6% of total revenue, followed by aerospace logistics at RM66.03 million or 27.7%, and air freight forwarding at RM47.59 million or approximately 20.0%. The group reported a gross profit of RM61.46 million, reflecting a GP margin of 25.8%. PAT for the full year rose to RM12.60 million, a substantial improvement from RM9.77 million in FY2023. The Philippines was the largest revenue contributor, accounting for RM104.37 million, followed by Malaysia at RM51.24 million and South Korea at RM31.46 million. Moving forward, AGX remains focused on strengthening its logistics infrastructure, expanding its service portfolio, and leveraging strategic partnerships to capture new growth opportunities. Warrants over MYEG, GAMUDA and NATGATE saw active trading during the week. MYEG-C8E and MYEG-C8G saw a combined total of over 105 million units traded as the underlying fell over 8% on Friday. To view the full list of structured warrants available on Bursa Malaysia, kindly visit malaysiawarrants.com.my. Provided for Malaysian residents information only. This commentary has not been reviewed by the Securities Commission Malaysia. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice. The Warrants will not be offered to any US persons.

further strengthen its ACC network. Looking ahead, the company is progressing with the development of Topvision International Eye Specialist Centre (TIESC), an advanced multidisciplinary specialist tertiary eye ACC in Klang Valley, set to open by year 2025. This facility will offer highly specialised ophthalmic treatments, including Laser-Assisted In Situ Keratomileusis (Lasik) and other refractive surgeries, such as Implantable Collmar Lens procedure, catering to the growing demand for vision correction solutions. Additionally, plans are underway to establish a new ambulatory care centre in Malaysia’s East Coast region, as well as in Tawau, East Malaysia, further expanding the company’s market presence and accessibility to advanced eye care services. Topvision CEO and executive director Dr Peter Chong Kuok Siong ( pic ) said: “Despite the impact of one-off listing expenses on our bottom line, our business fundamentals remain strong, and we are confident in our growth strategy. “The expansion of our ambulatory care network and the upcoming launch of TIESC will further solidify our market position and enable us to provide high-quality, specialised eye care to more Malaysians.” As the company enters financial year 2025, it remains focused on enhancing operational efficiencies, expanding service accessibility, and sustaining long-term growth. With the completion of its expansion projects and strong market demand, Topvision is well-positioned to strengthen its leadership in Malaysia’s ophthalmic care industry.

o Company remains focused on strategic expansion and strengthening market position

KUALA LUMPUR: Topvision Eye Specialist Bhd, a player in medical eye care services in Malaysia, reported steady revenue growth to RM11.54 million in its unaudited financial results for the fourth quarter ended Dec 31, 2024 (Q4 FY2024), up from RM11.33 million in the corresponding quarter of the previous year (Q4 FY2023). This growth was driven by the expansion of the company’s ambulatory care centre (ACC) network and increasing demand for its comprehensive ophthalmic services. In Q4 FY2024, revenue increased by 1.85% quarter-on-quarter to RM11.54 million from RM11.33 million in Q4 FY2023, while year-on year growth stood at 2.86% to RM44.19 million from RM42.96 million in financial year ended (FYE) Dec 31, 2023. The revenue growth in Q4 FY2024 was mainly driven by the business commencement of the Mentakab centre in August 2024. However, the company recorded a loss before tax (LBT) of RM1.81 million, a decline from the profit before tax (PBT) of RM1.39 million in Q3 FY2024, mainly due to one-off listing-related expenses amounting to RM3.01 million. Excluding this non-recurring expense, the adjusted PBT for Q4 FY2024 would have been RM1.21 million, reflecting stable operational performance despite expansion-related costs .

For the full FYE Dec 31, 2024 (FYE2024), Topvision recorded

revenue of RM44.19 million, representing a 2.86% increase from RM42.96 million in FYE2023.

This growth was largely driven by higher patient volume, contributions from new centres, and organic growth from existing operations. However, PBT for FYE2024 declined to RM3.74 million from RM7.51 million in FY2023, primarily due to higher operational costs associated with business expansion, including increased staffing expenses, depreciation from new property, plant, and equipment investments, and pre-operating costs related to new centres in Kuala Terengganu and Tawau set for expansion, as well as the abovementioned one-off listing-related expenses. While expansion-related investments affected short-term profitability, they are essential in positioning Topvision for long-term sustainable growth. With these strategic expansions, the company anticipates enhanced capacity utilisation and operational efficiencies. During the quarter, Topvision remained committed to its strategic expansion plans, successfully launching its Mentakab centre to

Globetronics reports stable PBT of RM6.4m in fourth-quarter 2024 PENANG: Globetronics Technology Bhd (GTB), an established player in the Outsourced Semiconductor Assembly and Test (OSAT) and semiconductor industry, recorded revenue of RM23.6 million, a 27.4% decline for the fourth quarter ended Dec 31, 2024 (Q4 FY2024) from RM32.6 million in the same quarter last year. FY2024, compared to a foreign exchange loss of RM8.1 million in the preceding quarter. For the full financial year, GTB reported revenue of RM110.6 million, a 16.1% decline from RM131.8 million in FY2023, while net profit stood at RM10.8 million, down 59.1% from RM26.4 million in the previous year. testing, opening new opportunities in the semiconductor industry. Additionally, GTB has solidified its role in the Penang Silicon Design @5km+ (PSD@5km+) initiative, a state-driven effort to bolster the region’s semiconductor ecosystem.

As part of this initiative, GTB is committed to supporting chip design houses with package design, process development, and engineering sample builds, further cementing its presence in high-value semiconductor manufacturing. GTB mangement said: “While 2024 presented significant headwinds for the industry, our ability to return to profitability in Q4 underscores our resilience. We remain committed to strengthening our operations, diversifying our customer base, and leveraging strategic partnerships.”

The softer performance reflects lower customer volume loadings and persistent macroeconomic challenges affecting the semiconductor sector. Despite the challenging operating environment, GTB continues to position itself for long-term growth. The group recently announced a strategic partnership with ChipMOS Technologies Inc, a provider of semiconductor assembly and testing services. This collaboration is expected to enhance GTB’s capabilities in advanced packaging and

However, Profit Before Tax (PBT) remained stable at RM6.4 million compared to RM8.5 million in Q4 FY2023. On a sequential basis, GTB’s revenue declined 19.3% from RM29.3 million in Q3 FY2024. Despite this, the group posted a strong turnaround in profitability, recovering from a Loss Before Tax (LBT) of RM4.1 million in the previous quarter. The rebound was primarily supported by a favourable foreign exchange gain of RM6.2 million in Q4

Hang Seng Index snaps six consecutive weeks of gains

and 5%, respectively. The brunt of losses came on Friday, as global markets tracked the overnight sell-off on Wall Street following (Donald) Trump’s announcement of additional 10% tariffs on China imports into the US (BBC, Feb 28). Notable Chinese stocks from the “Terrific Ten”, from the likes of Xiaomi Corporation, Alibaba Group, BYD Company, Baidu and Tencent all saw red on Friday as Trump’s announcement weighed on investor sentiment. The HSI warrants currently track the HSI March futures; with the market decline, investors were seen actively trading the HSI puts, which increase in value as the futures decline and vice versa. The top traded puts throughout the week in terms of value include

Top HSTECH warrants by volume traded Warrant Volume Issuer Exercise

WARRANTS WATCH

Expiry date

WARRANTS turnover last week came in 8% higher week-on-week (w-o-w), at RM568.8 million as compared to RM526.7 million the week before. The average turnover per day came in at RM113.8 million last week. Trading in warrants was mainly supported by turnover in Hang Seng Index (HSI) warrants which comprised 77% of the turnover, at RM440.4 million. W-o-w, turnover for HSI warrants grew by 11%. The Hong Kong market snapped its bullish run which went on for six consecutive weeks, with the HSI and Hang Seng TECH Index (HSTECH) both closing lower w-o-w, by 2.3%

name

traded 40.0mil 3.0mil 1.2mil 1.0mil

level 3,700 5,900 4,500 7,500 6,500

HSTECH-H17 HSTECH-C18 HSTECH-H13 HSTECH-C16 HSTECH-C20

Macquarie Macquarie Macquarie Macquarie Macquarie

30 Jun 2025 28 Mar 2025 28 Mar 2025 28 Mar 2025 30 Jun 2025

35k

HSI-PWDN and HSI-PWD5, which clocked in a combined traded value of RM96 million for the week. Meanwhile, warrants over the HSTECH also saw considerable trading activity, with call HSTECH-C18 and put HSTECH-H17 notching in a combined traded volume of 43 million units.

Locally, corporations back home wrapped up the earnings season for the recent quarter, with notable names from the likes of YTL Power, Press Metal, Nationgate Holdings, MYE.G. Services as well as Malaysian banks reporting their financial results for the quarter ended Dec 31, 2024.