Chin Teck's 1Q net profit drops 79%
KUALA LUMPUR: Chin Teck Plantations Bhd's net profit for second quarter ended Feb 28, 2009, plunged 78.7% to RM4.3 million from RM20 million a year earlier due to a substantial decline in prices of fresh fruit bunches, crude palm oil (CPO) and palm kernel as well as lower production levels.
Revenue also dropped 34.4% to RM21.9 million from RM33.3 million, while earnings per share (EPS) fell to 4.68 sen from 21.96 sen. No dividend was declared.
Chin Teck said the average CPO selling price for the current financial year was expected to be substantially lower than the previous year.
For the six months to Feb 28, its net profit fell 57% to RM17.08 million from RM39.49 million a year earlier, while revenue declined 19% to RM53.82 million from RM66.49 million. EPS fell to 18.70 sen from 43.23 sen.
CI 3Q net profit soars 65%
KUALA LUMPUR: Beverages manufacturer and retailer CI Holdings Bhd saw a 64.6% increase in net profit for its third quarter ended March 31, 2009 to RM5.2 million from RM3.2 million a year earlier due to the continued revenue growth and prudent cost management of the beverages division.
In a statement to Bursa Malaysia on April 23, the company said its revenue for the quarter rose 14.3% to RM90.6 million from RM79.3 million. Earnings per share improved to 4.03 sen from 2.45 sen.
Englotechs defaults on MMTN
KUALA LUMPUR: Englotechs Holding Bhd said yesterday it had failed to pay the remaining balance of RM979,500 under the secondary bonds payment due and payable on March 26, 2009, pursuant to its issuance of up to RM50 million nominal value Murabahah medium term notes (MMTNs).
"The board of directors of Englotechs wishes to announce that OSK Trustee Bhd had on behalf of the MMTN noteholders declared an event of default on the company," it said in a statement yesterday.
IOI Prop to be delisted on April 28
KUALA LUMPUR: IOI Properties Bhd (IOIP) will be delisted from the Bursa Securities on Tuesday (Apr 28), pursuant to the its parent company IOI Corporation Bhd taking it private.
IOI Corp had in February launched a voluntary general offer to buy out all IOIP shares it did not own at RM2.598 apiece via a combination of share swap and cash payment.
IOI Corp currently holds some 91.33% of IOIP. Permodalan Nasional Bhd (PNB) and ValueCap were among the shareholders that did not take up the offer.
KUB proposes 6% final dividend
KUALA LUMPUR: KUB Malaysia Bhd today recommended a final dividend of 6% or 2.4 sen per share less income tax of in respect of the year ended Dec 31, 2008.
The proposed dividend payout will be subjected to the shareholders' approval at the forthcoming AGM. The entitlement date and the date of payment in respect of the dividend would be determined and announced in due course.
Eurospan's 3Q net profit falls 80%
KUALA LUMPUR: Eurospan Holdings Bhd's net profit dropped 80% to RM219,000 in its third quarter ended Feb 28, 2009 from RM1.1 million a year earlier on the back of a 23.8% decline revenue to RM12.5 million from RM16.4 million.
Basic earnings per share fell to 0.54 sen from 2.75 sen. No dividend was declared.
For the cumulative nine months, net profit fell 37% to RM3.3 million while revenue dropped 13.7% to RM48.3 million. EPS fell to 8.11 sen from 12.91 sen.
AirAsia launches KL-Taipei route
KUALA LUMPUR: AirAsia Bhd is flying another oriental route — Kuala Lumpur-Taipei, starting July 1 via by its low-cost long-haul carrier affiliate AirAsia X, further expanding its already vast network in the region.
In a statement today, AirAsia said the route would start with five direct flights weekly. Booking period starts from tomorrow to May 3, 2009, for travel between July 1, 2009 and Jan 31, 2010.
"Taipei is the final piece of the jigsaw puzzle to our oriental network strategy and we are extremely excited on the potential of this route," said AirAsia regional head of commercial Kathleen Tan.
AirAsia held a media briefing for Taiwanese in Taipei today to announce the Kuala Lumpur-Taipei route.
KUB proposes 6% final dividend
KUALA LUMPUR: KUB Malaysia Bhd today recommended a final dividend of 6% or 2.4 sen per share less income tax of in respect of the year ended Dec 31, 2008.
The proposed dividend payout will be subjected to the shareholders' approval at the forthcoming AGM. The entitlement date and the date of payment in respect of the dividend would be determined and announced in due course.
Watta faces suspension
KUALA LUMPUR: Bursa Malaysia Securities Bhd will immediately suspend the trading of Watta Holding Bhd's securities in the event it fails to submit its financial statements for the year ended Sept 30, 2008 (FY08) by April 30.
Watta had failed to submit its annual audited accounts for FY08 for public release within the stipulated timeframe by Jan 31. If the new deadline is not met, then Bursa Securities would be authorised to undertake due process to delist the company. The stock closed unchanged at seven sen today, with 18,000 shares traded.
Four-day home decor expo opens April 30
KUALA LUMPUR: A home renovation, redecoration and refurbishment exhibition — HOMEDEC — will be held at the Kuala Lumpur Convention Centre from April 30 to May 3 and will be open to the public from 10am to 8pm.
Organised since 2003, this year's exhibition will occupy six halls of the convention centre with more than 800 booths and 260 companies participating,
In a statement, organiser CIS Network Sdn Bhd said HOMEDEC was the leading marketplace that bridged homeowners and manufacturers, dealers and suppliers in the home decor industry, with the latest trends, designs, technology and materials in the market on display.