F&N, Malayan Flour Mills, Hartalega, Rhone Ma, MPI, ECS ICT and Masteel

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KUALA LUMPUR (Nov 8): Based on corporate announcements and news flow today, stocks in focus on Friday (Nov 9) may include Fraser & Neave Holdings Bhd, Malayan Flour Mills Bhd, Hartalega Holdings Bhd, Rhone Ma Holdings Bhd, Malaysian Pacific Industries Bhd, ECS ICT Bhd and Malaysia Steel Works (KL) Bhd.

Fraser & Neave Holdings Bhd’s net profit soared over four times in the fourth quarter ended Sept 30, 2018 (4QFY18) to RM81.24 million compared with RM19.65 million in the previous year, thanks to increased contribution from both its Malaysian and Thailand operations. The previous year was also impacted by restructuring costs and other one-off items.

Revenue rose 2% to RM996.64 million from RM976.28 million a year ago. The group recommends an interim single dividend of 30.5 sen per share, the same as it declared a year ago.

For the full year, the group's net profit rose 19% to RM385.13 million from RM323.38 million in FY17, as revenue rose to RM4.11 billion from RM4.1 billion.

Malayan Flour Mills Bhd (MFM) slipped into its first quarterly loss since the end of 2015 in the third quarter ended Sept 30, 2018 (3QFY18), on the back of lower poultry sales.

MFM reported a net loss of RM5.19 million or 0.94 sen per share against a net profit of RM23.51 million or 4.27 sen per share in the same period last year (3QFY17).

For the cumulative nine-months (9MFY18), net profit plunged as much as 98.17% to RM1.18 million or 0.21 sen per share, from RM64.57 million or 11.73 sen per share last year. Revenue was 3.14% lower at RM1.75 billion from RM1.81 billion in 9MFY17.

Hartalega Holdings Bhd reported a 6% year-on-year net profit rise in the second quarter ended Sept 30, 2018 (2QFY19), despite a strong double-digit revenue growth, after incurring other operating expense of RM11.1 million, and higher finance costs.

Quarterly net profit grew to RM120.22 million from RM113.34 million, while revenue jumped 22% y-o-y to RM714.24 million from RM584.62 million in 2QFY18, thanks to stronger demand for nitrile gloves and higher average selling price.

The group declared a first interim single-tier dividend of 2.2 sen per share, payable on Dec 28 this year.

For the first half of the year (1HFY19), Hartalega reported net profit grew 17% y-o-y to RM245.09 million from RM209.73 million, while revenue rose 20% to RM1.42 billion from RM1.19 billion.

Rhone Ma Holdings Bhd (RMH) plans to issue bonus shares on the basis of one bonus share for every 10 shares (1-for-10) of the company held by entitled shareholders on a date to be fixed.

The proposed exercise will entail the issuance of up to 16.6 million bonus shares. The proposed issuance, that is aimed at rewarding shareholders will be implemented by way of capitalisation of RM8.3 million from the company's share premium account, at 50 sen for each bonus share.

Malaysian Pacific Industries Bhd (MPI) posted a strong 20.3% increase in net profit to RM63.25 million for the first financial quarter ended Sept 30, 2018 from RM52.59 million in the corresponding quarter last year mainly as revenue climbed 6.7% to RM413.76 million from RM387.63 million.

The board of directors has declared a first interim single tier dividend of 10 sen per share, to be paid on Dec 12, 2018.

ECS ICT Bhd recorded a 56.9% spike in net profit to RM7.67 million in the third quarter ended Sept 30, 2018 versus RM4.89 million last year, on higher gross profit margin in both its ICT Distribution and Enterprise Systems segments.

Revenue, however, slipped 1.04% to RM436.21 million in 3QFY18, because of slower market conditions and uncertainties — the result of a change in government in May — and the transitional period when the Goods and Services Tax was replaced with the Sales and Service Tax (SST).

ECS proposed a single interim dividend of 2.5 sen per share, payable on Dec 19.

For the cumulative nine months (9MFY18), net profit rose 11% to RM16.32 million or 9.1 sen per share against RM14.72 million or 8.2 sen per share last year, though revenue declined 11.55% to RM1.19 billion from RM1.34 billion.

Malaysia Steel Works (KL) Bhd (Masteel) plans to raise RM130 million via the issuance of sukuk for refinancing, capital expenditure and working capital requirements.

"The tenure of the sukuk is up to seven years from the date of first issuance. The first issuance of the sukuk is expected to be for a period of up to five years," it added.