KUALA LUMPUR (May 23): Based on corporate announcements and news flow today, stocks in focus tomorrow (Wednesday, May 24) may include: DRB-Hicom, Samchem, Oriental Interest, Kerjaya Prospek, Fitters, E&O, CCM, Bintulu Ports, Lii Hen, Innoprise, Ann Joo, Malakoff, UMWH, IGB, Ta Ann, IOI Properties, AAX, Star, Pos Malaysia, Telekom and RHB.
DRB-Hicom Bhd said trading in its securities will be suspended effective 9am tomorrow (May 24), pending an announcement. Accordingly, all structured warrants related to the group will also be suspended at the same time.
Samchem Holdings Bhd today revealed the seven shareholders seeking to remove executive director (ED) Ng Soh Kian from his post.
Among the seven are chief operating officer Eugene Chong Wee Yip and ED Chooi Chok Khooi. It did not disclose the reason for the shareholders seeking Ng's removal.
Oriental Interest Bhd via its wholly-owned unit OIB Properties (K) Sdn Bhd is buying lands in Selangor, Kedah and Penang from its five directors in four different related-party transactions.
The acquisitions — totalling RM129.23 million — will be partially satisfied via cash totalling RM56.45 million, as well as issuance of redeemable preference shares at RM1 per share in Oriental Interest.
Kerjaya Prospek Group Bhd has bagged a RM77 million contract from TSM Towers Sdn Bhd to build a 24-storey office building in Mutiara Damansara.
Its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd will undertake the 15-month long construction, which should be completed by Aug 28 next year.
Fitters Diversified Bhd has bagged a RM97.78 million construction contract from Pencala Jaya Sdn Bhd.
The job — commencing June 1 with a contract period of two years — involves the construction, completion and maintenance of 338 terrace homes in Rawang.
Eastern & Oriental Bhd posted a net profit of RM49.44 million in its fourth quarter ended March 31 (4QFY17) against net loss of RM14.4 million last year, supported by its property division. Quarterly revenue grew 45.9% to RM218.86 million, from RM150 million in 4QFY16.
For its full-FY17, net profit more than doubled to RM87.58 million from RM37.19 million a year ago. Revenue rose 66.9% to RM704.76 million, from RM422.18 million the previous year.
Chemical Co of Malaysia Bhd returned to the black in the first quarter ended March 31 with net profit of RM8.23 million compared with a net loss of RM250,000 last year, amid better performance across all its businesses.
Revenue rose 40.1% to RM212.24 million in 1QFY17 from RM151.53 million.
Bintulu Port Holdings Bhd declared a 6 sen dividend for its first quarter ended March 31 (1QFY17), as net profit rose 26% to RM50.6 million from RM40.14 million last year.
Revenue climbed 13.5% in the quarter under review to RM161.05 million, from RM141.9 million, due to higher revenue from its liquefied natural gas (LNG) and metal-based commodity cargoes.
Lii Hen Industries Bhd has declared a 4 sen dividend for its first quarter ended March 31 (1QFY17), as net profit rose 5.21% to RM22.12 million against RM21.02 million last year on better foreign exchange (forex) rates.
Revenue rose 4.61% to RM173.02 million, from RM165.39 million in the same period last year.
Innoprise Plantations Bhd's net profit for the first quarter ended March 31 (1QFY17) rose 300% to RM9.34 million versus RM2.34 million a year ago amid higher crude palm oil (CPO) prices and more sales from higher fresh fruit bunch production.
Revenue grew 18% to RM29.46 million from RM24.93 million. It proposed a first and final dividend of 2 sen per share in respect of its financial year 2016, to be paid on June 16 this year.
Ann Joo Resources Bhd saw its first quarter ended March 31 (1QFY17) net profit jump 13 times year-on-year (y-o-y) to RM74 million from RM5.52 million, on lower operating expenses.
Revenue at the steel player grew 1.97% to RM499.17 million from RM489.53 million. It declared a semi-annual dividend of 1.25 sen per redeemable convertible cumulative preference share, payable on June 16.
Malakoff Corporation Bhd's net profit for the first quarter ended March 31 (1QFY17) rose 17.5% to RM98.79 million from RM84.09 million a year ago, backed by contribution from Tanjung Bin Energy Sdn Bhd.
Revenue for the quarter rose 32.83% to RM1.78 billion from RM1.34 billion a year earlier.
UMW Holdings Bhd's net profit for the first quarter ended March 31 (1QFY17) rose 21.65% to RM20.17 million from RM16.58 million in 1QFY16 as revenue from its automotive business jumped 41%.
Revenue grew 27% to RM2.8 billion, from RM2.2 billion last year. Over 78% of the group's total revenue in the quarter under review came from the auto segment.
IGB Corp Bhd's net profit jumped 122% in its first quarter ended March 31 (1QFY17) to RM115.25 million from RM51.81 million, due to a one-off gain of RM34.3 million from sales of assets by a subsidiary, aided by higher contributions from its property investment and hotel segments.
Quarterly revenue, however, dropped 9% to RM254.78 million from RM280.21 million a year ago.
Thanks to higher average CPO selling prices, Ta Ann Holdings Bhd reported a 215% y-o-y rise in earnings for its first quarter ended March 31 (1QFY17) to RM39.49 million, compared with RM12.55 million a year ago.
Revenue grew 40% to RM305.57 million from RM218.53 million. It announced a first dividend of 5 sen, payable on June 28.
IOI Properties Group Bhd's third quarter ended March 31 (3QFY17) saw net profit decline 54.79% to RM121.14 million, from RM267.96 million a year ago, mainly due to the one-off additional buyer stamp duty of RM163.9 million for its development in Singapore, "Trilinq".
Revenue, however, rose 39.2% to RM895.82 million, against RM643.55 million last year.
Low-cost carrier AirAsia X Bhd's net profit plunge 94.2% to RM10.34 million in the first quarter ended March 31 (1QFY17) from RM179.49 million last year, on higher operating expenses — mainly from rising fuel prices.
Revenue, however, rose 21.6% to RM1.18 billion from RM970.67 million in 1QFY16, on strong passenger numbers.
Star Media Group Bhd's net profit fell 57.1% to RM6.65 million in the first quarter ended March 31 (1QFY17) from RM15.49 million a year ago, on lower profit from its print segment.
Revenue for the quarter was 7.9% lower at RM183.1 million compared with RM198.73 million a year ago, following declining contributions from the print and radio segment.
Pos Malaysia Bhd's net profit for the fourth quarter ended March 31 (4QFY17) fell 26% to RM10.64 million, from RM14.35 million a year ago, dragged by higher tax, cost of sales and operating expenses.
Revenue, however, grew 47% to RM635.55 million in 4QFY17, from RM433.64 million last year.
Telekom Malaysia Bhd reported a 29% drop in net profit for its first quarter ended March 31 (1QFY17) to RM230.43 million from RM322.44 million last year on higher operating cost and lower forex gains.
Revenue was 3.5% higher at RM2.96 billion versus RM2.86 billion, mainly from higher topline by its Internet and multimedia and data services.
RHB Bank Bhd saw its net profit fall 11.4% to RM500.28 million in the first quarter ended March 31 (1QFY17) from RM564.89 million a year ago, mainly due to lower total income and higher impairment losses for loans.
Revenue slipped 3.4% to RM2.62 billion from RM2.71 billion in the corresponding quarter last year.