KUALA LUMPUR (July 26): PPB Group Bhd has issued a scam alert to warn people not to fall victim to the scam, as it discovered electronic messages and applications impersonating those by PPB Group.
"It has come to our attention that there are electronic messages and applications using the name and logo of PPB Group Bhd without our authority or consent. We have reported this to the relevant authorities," said the diversified conglomerate on its website.
"Members of the public are strongly advised to be cautious," PPB warned.
"Please verify whether such messages or applications are legitimate, and take other preventive or protective measures," it added.
PPB's net profit for the first quarter ended March 31, 2022 (1QFY22) fell 24.6% to RM303.16 million, down from RM402.18 million a year ago.
The weaker earnings performance was mainly attributed to a loss of RM138 million recorded by its grains and agribusiness segment, due to the fair value losses on derivatives instruments for hedging purposes, as well as an increase in raw material costs.
The group's revenue, however, grew 23.6% to RM1.38 billion in 1QFY22, from RM1.12 billion a year earlier.
PPB is the flagship company of tycoon Robert Kuok Hock Nien.
Shares in PPB traded four sen or 0.25% lower at RM16.16 as of 2.45pm, bringing it a market capitalisation of RM22.99 billion. Over the past one year, PPB's share price has fallen by 11.2% from RM18.20.
Source: TheEdge - 27 Jul 2022
