KUALA LUMPUR (May 29): Based on corporate announcements and news flow today, companies that will be in focus on Tuesday (May 30) may include the following: HLFG, Boustead, Sunway, Genting Bhd, Genting Malaysia Bhd, Ajinomoto, MMC Corp, Media Prima, Sarawak Oil Palms, WCT, QL Resources, Johore Tin, MRCB, Iris, Media Chinese, Lay Hong and Cocoaland.

Hong Leong Financial Group Bhd's (HLFG) net profit rose 33% to RM418.75 million in the third quarter ended March 31, 2017 (3QFY17) from RM315.07 million a year earlier on higher net interest, non-interest and Islamic banking income. Revenue climbed to RM1.23 billion from RM1.03 billion.

The group declared a dividend of 25 sen per share for 3QFY17, payable on June 23.

HLFG also registered stronger 9MFY17 results, as net profit grew to RM1.25 billion from RM965.4 million a year earlier, while revenue climbed to RM3.76 billion from RM3.34 billion.

Boustead Holdings Bhd's first quarter net profit more than quadrupled to RM40.9 million from RM9.5 million a year ago, on higher contribution across all its segments, led by its plantations division.

Quarterly revenue jumped 27.9% to RM2.38 billion, from RM1.86 billion in 1QFY16.

It also declared a first interim dividend of 2.5 sen per share for the financial year ending Dec 31, 2017 (FY17), payable on June 23.

Sunway Bhd’s net profit rose 5.7% to RM107.91 million in the first quarter ended March 31, 2017 (1QFY17), from RM102.1 million a year ago, on higher contribution from all business segments, except property development.

Quarterly revenue increased 2.1% to RM1.09 billion in 1QFY17 from RM1.07 billion in 1QFY16.

Sunway said the property development segment reported a 38.8% decline in revenue to RM143.3 million in 1QFY17, from RM234.1 million in 1QFY16, mainly due to lower sales and progress billings from local development projects.

Genting Bhd saw its net profit surge 361% to RM603.06 million or 16.2 sen per share for the first quarter ended March 31, 2017 (1QFY17), from RM130.83 million or 3.52 sen per share in 1QFY16, helped by a gain on disposal.

Revenue for the quarter, however, grew a marginal 1% year-on-year to RM4.77 billion from RM4.71 billion.

Genting said its performance for the quarter was boosted by a gain of RM302.2 million recognised from the completion of the sale of Genting Singapore Plc’s 50% interest in associate Landing Jeju Development Co Ltd.

Genting Malaysia Bhd, whose share price has climbed nearly 43% year to date, announced that its net profit for the first quarter ended March 31, 2017 (1QFY17) more than doubled to RM323.5 million from RM161.6 million in the previous corresponding quarer.

The casino operator’s earnings per share ballooned to 5.72 sen from 2.86 sen last year.

The jump in profitability was aided by lower foreign exchange translation losses on its US dollar-denominated assets of RM9.4 million in the quarter under review compared with RM138.8 million a year ago.

Revenue for 1QFY17 grew marginally 0.43% to RM2.22 billion from RM2.21 billion a year ago.

Ajinomoto (Malaysia) Bhd’s net profit surged 22 times to RM148.96 million for its fourth quarter ended March 31, 2017 (4QFY17), from RM6.59 million a year earlier.

Besides higher revenue and lower advertising expenses, the jump in net profit was mainly contributed by RM144.49 million in other income.

The group has proposed a first and final dividend of 42 sen per share, as well as a special one-off dividend of RM1.13 per share for FY17.

Revenue rose 4.3% to RM114.93 million, from RM110.24 million in 4QFY16, contributed by improved sales in both its consumer and industrial business segments.

MMC Corp Bhd’s net profit in its first quarter ended March 31, 2017 (1QFY17) edged up 7% to RM55.14 million from RM51.34 million in the same period last year, without Zelan Bhd's effects on discounted receivables and unrealised loss on foreign exchange in relation to the Meena Plaza project in Abu Dhabi.

Also supporting the increase in earnings were contributions from KVMRT Sungai Buloh-Serdang-Putrajaya (SSP) Line, and better performance from its subsidiary Malakoff Corp Bhd amid higher fuel margins.

Media Prima Bhd plunged into the red with a net loss of RM38.47 million for the first quarter ended March 31, 2017, versus a net profit of RM17.25 million in the previous corresponding quarter, amid subdued advertising expenditure (adex).

Revenue for the quarter declined 10% to RM272.2 million from RM304.06 million a year earlier due to continued subdued adex which was further affected by the low momentum after Chinese New Year.

The group saw lower revenue contribution across all of its traditional platforms, namely television networks, print media, outdoor media and radio networks.

Sarawak Oil Palms Bhd's net profit increased 2.7 times to RM68.54 million in the first quarter ended March 31, 2017 (1QFY17) from RM25.03 million a year ago, mainly due to higher fresh fruit bunch (FFB) production volume coupled with favourable realised price.

Quarterly revenue rose 7.9% to RM1.12 billion in 1QFY17 from RM1.04 billion in 1QFY16.

It said prices of its palm oil products rose to RM3,153 per tonne in 1QFY17 from RM2,980 per tonne in 4QFY16, while that of palm kernel products fetched RM3,476 per tonne from RM3,297 per tonne.

WCT Holdings Bhd's net profit increased 3.7 times to RM33.08 million in its first quarter ended March 31, 2017 (1QFY17) from RM8.83 million a year ago, mainly due to strong contribution from the local construction division.

Quarterly revenue, however, fell 2.4% to RM473.39 million in 1QFY17, from RM484.96 million in 1QFY16.

The improvement in net profit, despite revenue being marginally lower, is reflective of the group’s ability to derive better margins from projects undertaken by its construction division, it said.

QL Resources Bhd's net profit climbed 24% to RM47.24 million in the fourth quarter ended March 31, 2017 (4QFY17), from RM38.14 million in 4QFY16, backed by higher crude palm oil (CPO) price and a gain on disposal.

Revenue for the quarter was up 6% y-o-y to RM813.73 million from RM770.22 million.

QL Resources said its palm oil activities division saw a 45% increase in sales due to higher CPO price and volume of fresh fruit bunch processed by its Indonesian unit.

Johore Tin Bhd's net profit more than doubled to RM10.32 million in its first quarter ended March 31, 2017 (1QFY17) from RM4.5 million a year ago, supported by higher sales of milk powder, lower distribution costs, and a one-off gain on the sale of machinery in its tin segment.

Quarterly revenue grew 12% y-o-y to RM102.57 million from RM91.58 million, supported by higher sales in the edible oil tin industry, and its milk powder segment.

The group announced an interim single tier dividend of 1.5 sen per share in respect of its financial year ending Dec 31, 2017 (FY17), to be paid on June 27.

Malaysian Resources Corp Bhd (MRCB) saw its net profit for the first financial quarter ended March 31, 2017 (1QFY17) more than double to RM10.46 million, from RM4.38 million a year ago, on higher contribution from its property development segment.

Earnings per share rose to 0.49 sen, from 0.25 sen.

Revenue grew 20.4% to RM524.85 million, from RM436.02 million in 1QFY16.

Iris Corp Bhd has proposed a private placement exercise of up to 224 million Iris shares, representing 10% of the issued share capital of the company, to raise up to RM40.49 million.

The company intends to use the proceeds from the placement exercise to fund working capital requirements and for future projects and investments.

However, it said it has yet to determine the nature of the new business projects or investments, adding it will make the required announcement as and when it is confirmed.

Media Chinese International Ltd (MCIL) which publishes Sin Chew Daily, China Press, Nanyang Siang Pau and Guang Ming Daily, saw net profit drop 69.9% to RM3.66 million in the fourth financial quarter ended March 31, 2017 (4QFY17), from RM12.18 million a year ago, on lower revenue, negative currency impact and provisions for impairment of goodwill.

Quarterly revenue also fell 12% to RM275.97 million in 4QFY17, from RM313.59 million in 4QFY16, on lower revenue from the publishing and printing segment, which fell by 14.9% y-o-y.

Nevertheless, the Chinese-language media group declared a second interim dividend of 36 US cent (equivalent to 1.604 sen) per share for the financial year ended March 31, 2017 (FY7), payable on July 10.

Lay Hong Bhd posted its fourth-straight profitable quarter in the fourth financial quarter ended March 31, 2017 (4QFY17), with a net profit of RM5.59 million, compared with a net loss of RM12.56 million in 4QFY16, mainly due to higher revenue and the absence of the share-based expense.

Earnings per share stood at 0.92 sen, compared with a loss per share of 2.19 sen a year ago.

Quarterly revenue rose 6.4% to RM173.63 million in 4QFY17, from RM163.15 million in 4QFY16, on higher contribution from its integrated livestock farming segment. The segment saw higher quantity of eggs, as well as higher price of processed and frozen products sold in the current quarter under review.
 
Cocoaland Holdings Bhd’s net profit grew 14.2% to RM9 million in the first quarter ended March 31, 2017 (1QFY17) from from RM7.9 million, thanks to higher margin sales mix and gain on foreign currencies exchange.

Earnings per share expanded to 3.93 sen per share in 1QFY17 from 3.44 sen per share last year.

Revenue marginally grew 1.9% to RM63.7 million in 1QFY17 against RM62.5 million amidst higher demand for its own 'gummy’ brand in China and South Korea following considerable funding in advertising and promotion.