KUALA LUMPUR (May 25): Based on corporate announcements and news flow today, stocks in focus on Monday (May 28) may include the following: IHH Healthcare Bhd, Power Root Bhd, MyEG Services Bhd, AsianPac Holdings Bhd, Chemical Company of Malaysia Bhd, Brahim’s Holdings Bhd, Malaysia Steel Works (KL) Bhd, Pestech International Bhd, Eastern & Oriental Bhd's, Tenaga Nasional Bhd and Sime Darby Bhd.

IHH Healthcare Bhd has extended the acceptance period for its enhanced revised offer to acquire a stake in India’s Fortis Healthcare Ltd by another month.

The group said it issued the extension letter today to enable the reconstituted board of Fortis until June 30 for the full consideration and evaluation of the proposal.

“The terms of the revised IHH proposal and enhanced revised IHH proposal remain unchanged and fully valid and in force,” it said in the letter.

Meanwhile, foreign exchange losses, higher operating expenses and an absence of gain from disposal all combined to drag IHH’s first quarter net profit to RM57.24 million, down 87.82% from RM470.05 million a year earlier.

Earnings per share for the quarter ended March 31, 2018 (1QFY18) slumped to 0.44 sen from 5.71 sen a year ago.

Power Root Bhd has slipped into the red in its fourth quarter ended March 31, 2018 (4QFY18) with a net loss of RM9.51 million, bringing its full financial year ended March 31, 2018 (FY18) earnings sharply lower.

The group registered a net profit of RM9.36 million and RM6.42 million in 4QFY17 and 3QFY18 respectively.

Revenue for the quarter, meanwhile, fell 12% to RM80.58 million, from RM91.6 million in 4QFY17, mainly attributable to the decrease in overseas sales.

The group said the losses were due to lower sales recorded and adverse sales mix.

Separately, Power Root has proposed to undertake a one-for-five bonus issue of up to 71.24 million new shares, along with free warrants.

My EG Services Bhd (MyEG) has clarified that neither the company nor any of its directors was the subject of any investigation by the Malaysian Anti-Corruption Commission (MACC).

"The board reiterates that the company is not the subject of any investigation whatsoever, past or present, being carried out by MACC on it or on any of its directors," MyEG said in a strongly-worded statement, which was filed with Bursa Malaysia today.

"The board of directors wishes to clarify that all information in the article pertaining to rumours of alleged action being taken by MACC are completely baseless and fictitious," added MyEG, a technology solutions company specialising in providing electronic government services.

According to MyEG, its board of directors takes a serious view of anyone spreading erroneous rumours and will not hesitate to take further action, such as lodging a report with the police.

Asian Pac Holdings Bhd has proposed to buy 74 acres of land in Petaling Jaya for RM300 million for the purpose of property development.

The purchase of the land was formalised after its wholly-owned BH Builders Sdn Bhd inked a conditional sale and purchase agreement with Jiwa Murni Sdn Bhd, the group said.

Chemical Co of Malaysia Bhd's (CCM) net profit rose 21.3% to RM9.98 million in the first quarter ended March 31, 2018 (1QFY18) from RM8.23 million a year ago, which it attributed to improved sales and positive impact from operational efficiency initiatives.

This resulted in higher earnings per share of 5.95 sen for 1QFY18 compared with 1.8 sen for 1QFY17.

Quarterly revenue increased 14% to RM101.4 million in 1QFY18 from RM88.94 million a year ago, mainly on improved revenue from both the chemicals and polymers divisions.

The group also declared an interim dividend of 3 sen per share for the financial year ending Dec 31, 2018, payable on June 29.

Brahim's Holdings Bhd saw its net loss for the first quarter ended March 31, 2018 (1QFY18) widen to RM2.15 million or 0.8 sen per share from RM1.85 million or 0.69 sen per share a year ago, according to a filing with Bursa Malaysia.

This was in line with the 3.7% decline in 1QFY18 revenue to RM68.7 million from RM71.3 million in 1QFY17.

It said that for the current quarter, the performance of the in-flight catering and related revenue in services continued to show decreasing trend quarter-on-quarter as well as year-on-year (y-o-y).

"Revenue for the current quarter decreased by RM2.75 million or 4% closing at RM66.47 million compared with revenue of RM69.22 million in the same quarter last year," it said.

Malaysia Steel Works (KL) Bhd saw a 25.8% increase in net profit for the first quarter ended March 31, 2018 to RM17.72 million, compared with RM14.08 million a year ago, as it sold more products at higher selling prices.

Revenue grew 24.7% to RM434.8 million from RM348.72 million a year ago, according to the group's filing with Bursa Malaysia.

The steel player attributed the increase in its revenue and profit to stronger domestic demand and the strengthening of local steel price, which helped boost its selling price and volume sold.

Pestech International Bhd suffered a 61.9% drop in net profit for the third quarter ended March 31, 2018 (3QFY18), affected by projects on early-stage civil works and higher finance costs.

The group said in a bourse filing today net profit for 3QFY18 came in at RM9.21 million, compared with RM24.14 million in the corresponding quarter a year ago.

This brought its earnings per share down to 1.21 sen from 3.23 sen previously.

Revenue, meanwhile, grew 52.7% to RM260.92 million from RM170.83 million a year ago, reflecting the execution of the group's ongoing projects.

Property developer Eastern & Oriental Bhd's (E&O) net profit fell 21.8% to RM37.9 million in the fourth financial quarter ended March 31, 2018 (4QFY18) from RM48.46 million a year ago, due to higher income tax expenses of RM24 million in the current quarter under review versus RM8.57 million in 4QFY17.

In a statement today, E&O said the higher income tax expenses were attributed to higher revenue achieved in contrast to the occurrence of higher non-taxable income items in 4QFY17.

This resulted in lower earnings per share of 2.91 sen for 4QFY18 compared with 3.85 sen for 4QFY17.

Quarterly revenue, however, was up 28% to RM280.05 million in 4QFY18 from RM218.86 million a year ago.

Tenaga Nasional Bhd (TNB) posted net profit of RM2.12 billion in the first quarter ended March 31, 2018 (1QFY18), on revenue of RM12.27 billion, thanks to stable electricity demand in line with expected favourable economic growth in 2018.

The performance of the current quarter is not comparable against any comparative period previously reported due to the change in accounting year from from end-August to end-December.

Sime Darby Bhd saw an 80.5% drop in net profit to RM135 million in the third financial quarter ended March 31, 2018 (3QFY18) from RM692 million a year ago. However, it is worth noting that 3QFY17’s net profit of RM692 million includes results from the discontinued operations from the plantation and property divisions.

Sime Darby’s continuing operations recorded a net profit of RM135 million in 3QFY18, dropping 28.6% from RM189 million in 3Q 2017.

Revenue for continuing operations in 3QFY18 rose 5.3% to RM8.29 billion from RM7.87 billion a year ago.