Based on corporate announcements and newsflow today, stocks in focus on Friday (Dec 26) could include: Mitrajaya Holdings Bhd, Poh Huat Resources Holdings Bhd, Engtex Group Bhd, Parkson Holdings Bhd
Mitrajaya Holdings Bhd has clinched a RM186.8 million contract to build Bank Negara Malaysia’s (BNM) Business Operation Complex.
In a filing with Bursa Malaysia today, Mitrajaya said its wholly-owned subsidiary Pembinaan Mitrajaya Sdn Bhdhad on Dec 18 accepted the contract from BNM.
The contract, which is expected to commence on Jan 2, 2015 and complete by March 31, 2016, is expected to contribute positively to Mitrajaya group’s future earnings.
Mitrajaya’s share price has been on an upward trend, climbing from 49 sen a year ago to hit a five-year high of RM1.15 on Nov 28. The stock fell one sen or 1.06% at 93 sen today, giving it a market capitalisation of RM366.51 million.
Poh Huat Resources Holdings Bhd’s net profit rose 4.4% to RM11.05 million, or 10.35 sen per share, for the fourth quarter ended Oct 31 (4QFY14) against RM10.58 million, or 9.89 sen a share, in the previous corresponding period.
The furniture maker attributed the improvement to better Malaysian operations and lower administration cost.
Quarterly revenue rose 6.7% to RM108.12 million from RM101.33 million, underpinned by better earnings from Malaysian and Vietnamese operations which showed an increase of RM3.38 million and RM3.72 million respectively.
For the full year, the group's net profit surged 42% to RM23.8 million, or 22.3 sen per share, compared with RM16.76 million, or 15.67 sen per share in FY13. Revenue expanded to RM377.17 million, 5.3% higher than in the last financial year.
According totheedgemarkets.com, Poh Huat scored a 2.1 fundamental rating, which measures the strength of the company's balance sheet, with 3 suggesting that it is profitable and has strong balance sheet.
Poh Huat share price closed two sen or 1.56% up to RM1.30 with 101,200 shares done, giving it a market capitalisation of RM134.47 million.
Engtex Group Bhd announced its wholly-owned subsidiaryBenton Corp Sdn Bhd has entered into a sale and purchase agreement with Alphaprise Sdn Bhd to acquire four pieces of vacant land in North Port Klang for RM25.99 million.
In a filing with Bursa Malaysia, Engtex said acquisition of the 5.14 ha land would allow the group to centralise its warehousing operations into a one-stop integrated industrial park close to the port, thus increasing efficiency and reducing supply-chain administrative costs.
“This will also cater for future expansion and business opportunity,” added Engtex.
The acquisition will be funded by a combination of borrowings and internally generated funds, with the exact breakdown to be confirmed at a later stage.
The group expects to complete the purchase within its next financial year ending Dec 31, 2015.
According to theedgemarkets.com, on a scale of one to three, Engtex has a fundamental score of 1.10 and a valuation score of 2.40. Three is the best score.
Engtex closed unchanged at RM1.11, for a market capitalisation of RM329.7 million.
Parkson Holdings Bhd has proposed to fully acquire property firm Dimensi Andaman Sdn Bhd and a 6-acre tract in Malacca for a total cash consideration of RM92.96 million from Ayer Keroh Resort Sdn Bhd (AKR).
In an announcement with Bursa Malaysia today, Parkson said its wholly owned subsidiary, Megan Mastika Sdn Bhd had today entered into two separate sale and purchase agreements (SPAs) with Ayer Keroh Resort Sdn Bhd to acquire Dimensi Andaman for RM53.72 million and a 6-acre tract (AKR Land) for RM39.24 million.
Notably, Megan Mastika had completed the acquisition of 15 acres out of the total 23.22-acre DA Land for a cash consideration of RM93 million in December 2012. Dimensi Andaman owns the balance 8.22 acres out of the DA Land, according to announcement.
Meanwhile, the second SPA is on the six-acre tract located adjacent to DA Land, which is located at Kawasan Bandar XLII, Daerah Melaka Tengah, Negeri Melaka
The proposed acquisition is slated to be completed by first quarter of next year, said Parkson.
Parkson has closed 0.85% higher at RM2.37 today, translating to a market capitalisation of RM2.51 billion.