KUALA LUMPUR (June 29): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (June 30) may include the following: Poh Kong, Hiap Teck, Kim Loong Resources, Sime Darby, Berjaya Corp, Tasco Bhd, AEON Co (M) Bhd, Vivocom International, Hai-O Enterprise, Boon Koon Group, Hock Seng Lee, Tiger Synergy, NTPM Holdings, TSR Capital Bhd, Kumpulan Jetson, Reach Energy and PUC Founder (MSC).

Poh Kong Holdings Bhd posted a 22% rise in net profit in its third quarter ended April 30, 2017 (3QFY17) to RM7.4 million from RM6.09 million a year earlier, as it saw better gold prices and contribution from new outlets.

Revenue rose 1% to RM205.23 million from RM202.52 million a year ago, Poh Kong said in a filing with Bursa Malaysia today. It also reported lower finance cost in 3QFY17 of RM2.1 million versus RM3.22 million previously.

For the cumulative nine months of FY17, net profit jumped 86% to RM15.24 million compared with RM8.19 million a year ago. Revenue grew 7% to RM617.01 million from RM578.18 million.

Steel products manufacturer Hiap Teck Venture Bhd’s net profit in its third quarter ended April 30, 2017 (3QFY17) jumped three times to RM31.9 million from RM10.6 million a year ago, due mainly to improved margins.

Revenue grew 4% to RM297.1 million from RM285.1 million a year ago, due mainly to an improvement in steel prices which raised the group’s selling price.

The group’s cumulative nine months ended April 30, 2017 (9MFY17) saw it return to the black with a net profit of RM34.9 million, from a net loss of RM49.4 million a year ago, while revenue dipped 4% to RM845.4 million from RM877.5 million.

Kim Loong Resources Bhd's net profit almost doubled to RM24.3 million for the first quarter ended April 30, 2017 (1QFY18) from RM12.4 million a year earlier, on higher contribution from its plantation operations.

Revenue climbed 44% to RM255.7 million from RM177.7 million in 1QFY17, Kim Loong said in a filing with Bursa Malaysia today, adding that earnings per share rose to 7.81 sen from 3.99 sen.

The group's plantation operations saw revenue jump 97% during the quarter while profit shot up 295% to RM34.3 million due to increased fresh fruit bunches (FFB) production and price.

FFB production rose 68% to 88,300 tonnes from 52,500 tonnes in 1QFY17 because of substantial contribution by its Keningau estates in Sabah which showed a 90% increase.

Sime Darby Bhd is selling New Lunderston Estate, a freehold tract measuring 297.51 acres, in Selangor for RM85.53 million cash.

It said today that its indirect wholly-owned subsidiary Sime Darby Builders Sdn Bhd had entered into a sale and purchase agreement with PNB Development Sdn Bhd, a wholly-owned unit of Permodalan Nasional Bhd.

The proceeds will be used to fund strategic development projects by Sime Darby Property Bhd within the next 12 to 24 months and for the payment of expenses in relation to the proposed disposal.

Barring any unforeseen circumstances, Sime Darby expects to complete the proposed disposal by year-end.

Berjaya Corp Bhd (BCorp) posted a net profit of RM3.24 millon for the fourth financial quarter ended April 30, 2017 (4QFY17), a stark contrast to a net loss of RM368.91 million a year ago due to impairment in value of goodwill of RM473.2 million plus and assets held for sale relating to Berjaya (China) Great Mall Co Ltd of RM131.81 million.

Quarterly revenue came in at RM2.23 billion, which was 10% lower from the RM2.48 billion it recorded a year ago. BCorp said the drop in revenue was caused by lower contributions from the property investment and development business segment.

For the full financial year ended April 30, 2017 (FY17), BCorp also made a net profit of RM139.95 million against a net loss of RM177.22 million the year before. The annual profit was attributed to higher net profit from the property investment and development segment although it noted that this was dampened by decreased profits from its gaming operations.

Tasco Bhd expects its foray into the cold chain logistics segment to boost its 2017 (FY17) revenue by an additional RM100 million, following shareholder approval for its acquisition of Gold Cold Transport (GCT) and Westport land.

This will bring its revenue for the year to around RM700 million according to Tasco’s executive chairman Lee Check Poh.

GCT, which Tasco is buying for RM186.08 million cash, is expected to begin registering contribution once the acquisition is completed in July. Meanwhile, the acquisition of 39.52 acres of land in Pulau Indah for RM113.83 million will contribute to revenue by year-end, said Tasco’s managing director Freddie Lee Jew Kiat.

AEON Co (M) Bhd is disposing of the two-storey AEON Mahkota Cheras Shopping Centre built for RM87.8 million to Foremost Wealth Management Sdn Bhd.

AEON said the disposal is in line with its corporate strategy of focusing and developing its future retail business.

AEON said Foremost Wealth is an investment holding company with a paid-up share capital of RM1 million, but did not disclose the owner of the entity.

Upon completion of the disposal, AEON expects to book a gain of RM17 million after adjusting for expenses and taxes for FY17 and the cash proceeds are intended to be used as working capital and to reduce borrowings. It expects the disposal to be completed in four months.

Vivocom International Holdings Bhd has proposed to place new shares to third party investors to raise money for working capital and bank borrowings repayment.

Hai-O Enterprise Bhd posted a 63% rise in earnings in its fourth quarter of financial year 2017 (4QFY17), as both its wholesale and multi-level marketing divisions performed better.

Net profit for the three months ended April 30 came in at RM18.25 million compared with RM11.18 million a year earlier, while revenue grew 34% to RM118.37 million from RM88.15 million, its Bursa Malaysia filing today showed.

The group proposed a final single tier dividend of 11 sen per share for FY17, which brings its total payout for the year to 16 sen, a sen higher than FY16.

The group expects to raise between RM35.58 million and RM47.87 million from the placement of shares to parties to be identified later.

Boon Koon Group Bhd, which specialises in rebuilt commercial vehicles, intends to diversify into property development.

To do that, Boon Koon will jointly develop a residential project with Platinum Eminent Sdn Bhd, a wholly-owned subsidiary of Aera Property Group Sdn Bhd, in which its controlling shareholder Datuk Seri Chiau Beng Teik is also the stakeholder.

Boon Koon said it entered into a joint development agreement with Platinum Eminent, under which it will have to pay an upfront participation fee of RM20 million, which in turn will entitle Boon Koon to 60% of the gross development profits of the project, which is estimated to be RM93.5 million.

A shareholder of Sarawak-based Hock Seng Lee Bhd (HSL) has failed in his bid to remove managing director Datuk Yu Chee Hoe and three others from the board of the construction and  engineering group.

The High Court in Kuching today dismissed the application by shareholder Yii Chee Ming to remove Chee Hoe, executive directors Tony Yu Yuong Wee and Lau Kiing Kang and non-executive director Lau Kiing Yiing from the board, HSL said in a filing to Bursa Malaysia.

Chee Ming, however, succeeded in getting the court to order the four directors to disclose matters concerning the acquisition and disposal of shares in HSL and its holding company, Hock Seng Lee Enterprise Sdn Bhd.

The lawsuit filed by Chee Ming in December last year concerned issues of disclosure to the relevant authorities by the four directors “pertaining to the acquisition and disposal of shares by himself/their spouses or the company connected to himself” in Hock Seng Lee Enterprise.

Tiger Synergy Bhd has signed a memorandum of agreement with Prosma Bhd, a holding company for the assets of Sekretariat Komuniti Prefer Malaysia (SKPM), to develop a RM100 million affordable condominium in Gombak.

The Telaris Gombak will be developed for a period of three years under the Rent-to-Own scheme spearheaded by Prosma, comprising 180 residential units and eight commercial units at an estimated price of RM500,000 per unit. The scheme will see the properties rented to the proprietor for 30 years.

The project is expected to contribute RM30 million to Tiger Synergy's bottom line over the next three years, said the group's managing director Shirley Tan Lee Chin.

Consumer goods and paper company NTPM Holdings Bhd’s net profit for its fourth quarter ended April 30, 2017 (4QFY17) fell 10.9% to RM8.95 million from RM10.05 million a year earlier.

Revenue, however, grew 10.1% to RM159.25 million from RM144.66 million in 4QFY16, the company said in a filing.

For the  full FY17, the group’s net profit fell 13.5% to RM49.87 million from RM57.67 million in FY16 due mainly to increase in cost of raw materials, labour costs, as well as repair and maintenance and energy costs.

Revenue for the year grew by 7.3% to RM645.52 million from RM601.71 million in FY16 due to an increase in sales of tissue and personal care products.

Construction and property development group TSR Capital Bhd said it is open to selling its office tower in Mutiara Damansara, Petaling Jaya, known as Menara TSR, and would use the gains from the disposal for future property development projects.

Menara TSR, which is two years old and comes with 16 floors, is 94% occupied, mostly by international firms and is valued at about RM170 million.

Kumpulan Jetson Bhd (KJB)'s wholly-owned unit Jetson Construction Sdn Bhd has accepted a RM919.3 million subcontract job from MCC Overseas (M) Sdn Bhd to undertake main building works for a mixed commercial project on Jalan Conlay here.

The cost is broken down into two parts: building works, which costs RM336.7 million, and RM582.7 million as prime cost and provisional sum.

Reach Energy Bhd wants to ramp up oil production in its 60%-owned Kazakhstan oil field by up to 51% to 5,000 barrels of oil per day (BOPD), from 3,301 BOPD as at end-2016.

The company said it looks to increase production to between 4,000 BOPD and 5,000 BOPD by the end of 2017.

Last November, Reach Energy completed the acquisition of 60% equity interest in Palaeontol BV and 60% of the company's shareholders' loan at an adjusted purchase consideration of US$175.9 million, fulfilling the requirements of a special purpose acquisition company to acquire a qualifying asset within a 36-month period.

Integrated media services provider PUC Founder (MSC) Bhd will now be known as PUC Bhd to denote its new corporate identity,  the group said today after shareholders approved the name change at the group’s annual general meeting today.

The group said it changed its name also because its founding Chinese company PUC Founder Group is no longer its substantial shareholder.