CIMB, Boustead, Bina Puri, Brahim’s, E&O, 7-Eleven, KSL, Supermax and OSK Holdings

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KUALA LUMPUR (Feb 27): Based on corporate newsflow and announcements today, stocks that may be in focus on Monday (March 2) could include: CIMB Group Holdings Bhd, Boustead Holdings Bhd, Bina Puri Holdings Bhd, Brahim’s Holdings Bhd, Eastern & Oriental Bhd (E&O), 7-Eleven Malaysia Holdings Bhd, KSL Holdings Bhd, Supermax Corp Bhd and OSK Holdings Bhd.
CIMB Group Holdings Bhd’s net profit dropped 31.57% to RM3.11 billion or 37.48 sen per share for the financial year ended Dec 31, 2014 (FY14), from RM4.54 billion or 59.97 sen per share the previous year, weighed down by slower revenues and a sharp increase in provisions for corporate banking loans in its 97.94%-owned subsidiary, PT Bank CIMB Niaga Tbk, as well as in Malaysia.

Revenue also fell 3.58% to RM14.15 billion, from RM14.67 billion in FY13.

CIMB (fundamental: 1.35; valuation: 2.1) also saw its net profit for the fourth quarter of FY14 (4QFY14) fallen 80.7% to RM200.32 million or 2.38 sen per share, from RM1.04 billion or 13.5 sen per share a year ago.

Revenue for 4QFY14 was down 3.29% at RM3.67 billion, compared with RM3.8 billion in 4QFY13.

CIMB's newly-appointed chief executive officer Tengku Datuk Zafrul Tengku Abdul Aziz said the group delivered its "worst quarterly performance" with respect to return on equity (ROE). The group reported an annualised ROE for FY14 of 9.2%, and 0.6% for 4QFY14.

Nevertheless, CIMB proposed a dividend of 5 sen per share, bringing its total dividend for the year to 15 sen per share.
Diversified entity Boustead Holdings Bhd's net profit rose 36% to RM299 million for the fourth quarter ended Dec 31, 2014 (4QFY14), from RM220.2 million a year ago, on lower operating cost and higher contribution from associates and joint ventures.

In a filing with Bursa Malaysia today, Boustead Holdings (fundamental: 0.65; valuation: 1.8) said revenue fell to RM2.83 billion, from RM3.59 billion.
For the full year, net profit dipped to RM408.2 million, from RM478.8 million in FY13; while revenue fell to RM10.61 billion, from RM11.21 billion.

Construction outfit and property developer Bina Puri Holdings Bhd saw its net profit surged 359.7% to RM1.23 million for the fourth quarter ended Dec 31, 2014 (4QFY14), from RM268,000 a year ago.

Revenue however, fell 33.8% to RM216.16 million, from RM326.58 million in 4QFY13.

Bina Puri (fundamental: 0.15; valuation: 1.8) also declared a dividend of two sen a share for the financial year ended Dec 31, 2014 (FY14).

For FY14, the group's net profit improved 17.3% year-on-year to RM6.14 million, from RM5.23 million; while revenue was marginally higher at RM1.06 billion, from RM1.05 billion in FY13.

Brahim’s Holdings Bhd swung into a net loss of RM40.32 million or 17.06 sen a share in its fourth quarter ended Dec 31, 2014 (4QFY14), from a net profit of RM12.69 million a year ago, mainly affected by weaker performance from its in-flight catering business.

Revenue fell 27.5% to RM79.07 million, from RM109.12 million a year ago.

For the full year, Brahim’s (fundamental: 0.8; valuation: 1.8) posted a net loss of RM33.59 million or 14.34 sen a share, compared with a net profit of RM22.03 million in FY13.

Revenue meanwhile, dropped 10.45% to RM353.57 million, from RM394.83 million in FY13.

Lifestyle property developer Eastern & Oriental Bhd (E&O) saw its net profit for the third financial quarter ended Dec 31, 2014 (3QFY15) fallen 40.3% to RM11.39 million, from RM19.06 million a year ago, despite a marginal increase in revenue by 1.7% to RM99.42 million.

Earnings per share (EPS) was lower at 1.02 sen, compared with 1.72 sen a year earlier.

For the nine months to Dec 31, 2014 (9MFY15), net profit was down 17.77% to RM51.59 million, from RM62.74 a year ago. This translated into a lower EPS of 4.65 sen, compared with 5.67 sen in 9MFY14.

E&O’s (fundamental: 1.2; valuation: 1.35) 9MFY15 revenue was however, up 14.6% to RM306.46 million, from RM267.45 million a year ago.
7-Eleven Malaysia Holdings Bhd saw its net profit jumped 71.1% to RM17.92 million or 1.45 sen a share in the fourth quarter ended Dec 31, 2014 (4QFY14), while revenue rose 14% to RM481.1 million.

For the full year, 7-Eleven (fundamental: 1.55; valuation: 0) saw its net profit increase to RM63.07 million or 5.44 sen a share, from RM44.1 million or 4.19 sen the previous year.

Revenue meanwhile, grew to RM1.89 billion, from RM1.67 billion in FY13.

The group also declared an interim dividend of 2.5 sen per share and a special single-tier dividend of 2.6 sen per share for FY14, payable on March 31, 2015.
Johor-based property developer KSL Holdings Bhd reported a net profit of RM129.8 million in the fourth quarter ended Dec 31, 2014 (4QFY14), from a net loss of RM1.4 million a year ago.

Revenue also came in 46% higher at RM166.6 million, against RM114.1 million in 4QFY13.

For the full year of 2014 (FY14), KSL (fundamental: 2.6; valuation: 0.6) reported a record net profit of RM340.2 million or 80.65 sen a share, which is 87.4% higher than RM181.5 million or 46.98 sen a share in FY13.

Revenue surged 17.8% to RM801 million, from RM680 million in FY13.

KSL has proposed a final single-tier dividend of 5 sen per share for FY14, subject to shareholders’ approval in the upcoming annual general meeting.

Supermax Corp Bhd, the world's second largest rubber gloves maker by volume, saw its net profit slip 19.9% to RM20.07 million or 2.95 sen for the fourth quarter ended Dec 31, 2014 (4QFY14), from RM25.05 million or 3.68 sen a year ago, dragged down by start-up costs for its new lines at its two new plants in Meru, Klang.

Revenue in 4QFY14 however, rose 34.6% to RM258.75 million, compared with RM192.24 million in 4QFY13, as the group had fully recovered from the fire at one of its plants in the quarter under review, and also benefited from a stronger US dollar which had appreciated by 5%.

For the full year of 2014 (FY14), its net profit fell 15.8% to RM100.8 million, from RM119.72 million the previous year; while revenue declined 4.6% to RM1.01 billion, from RM1.05 billion in FY13.

Nevertheless, Supermax (fundamental: 1; valuation: 0.6) is proposing a final dividend of 3 sen per share for FY14, for the approval of the shareholders at a forthcoming annual general meeting (AGM).

In a separate filing with Bursa Malaysia today, Supermax said it intends to seek its shareholders’ approval at the upcoming AGM, on the proposed appointment of Tan Sri Rafidah Aziz as its chairman and independent non-executive director.

"Upon obtaining shareholders’ approval on the proposed appointment, Supermax's executive chairman and group managing director (MD) Datuk Seri (Stanley) Thai Kim Sim will be redesignated to group MD (only).

"The proposed appointment and redesignation reinforce clear division of roles and responsibilities between the chairman and group MD respectively, and are in line with the recommendation of Malaysian Code on Corporate Governance 2012," said Supermax.

OSK Holdings Bhd’s net profit fell 7.9% to RM54.28 million or 5.71 sen per share for the fourth quarter ended Dec 31, 2014 (4QFY14), from RM58.95 million or 6.09 sen per share a year earlier.

Revenue for 4QFY14 dropped 5.3% to RM15.66 million.

OSK Holdings (fundamental: 1.65; valuation: 1.2) also proposed a final dividend of five sen a share, bringing dividend for the year to 7.5 sen a share, which was the same with the previous year’s payout.

For the full year of 2014 (FY14), OSK Holdings — the investment company owned by veteran stockbroker Tan Sri Ong Leong Huat — however, saw its net profit grown 4.41% to RM204.26 million or 21.29 sen a share, from RM195.64 million or 20.2 sen a share in FY13.

“The earnings growth was mainly due to higher share of profit of RHB Capital Bhd, up by 10% or RM15.44 million to RM176.78 million, from RM161.34 million in FY13,” said the firm.

Revenue for FY14 however, dropped 2.19% to RM59.93 million, from RM61.27 million the previous year.

Going forward, OSK Holdings expects its investment properties and capital financing segments to perform well.

On the group level meanwhile, it said its income stream will be diversified, with the proposed merger of OSK Property Holdings Bhd and PJ Development Holdings Bhd.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)