Prestariang, Yinson, Berjaya Corp, Talam Transform, Perak Corp, Integrax, TNB, F&N, MAHB, Selangor Properties and Silk

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KUALA LUMPUR (Mar 24): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (March 27) could be: Prestariang Bhd, Yinson Holdings Bhd, Berjaya Corp Bhd, Talam Transform Bhd, Perak Corp Bhd, Integrax Bhd, Tenaga Nasional Bhd, Fraser & Neave Holdings Bhd, Malaysia Airports Holdings Bhd, Selangor Properties Bhd and Silk Holdings Bhd.

Prestariang Bhd has won a RM29.9 million contract from the Inland Revenue Board (IRB) to provide Microsoft software licences and value-added services for a period of three years.

In a filing with Bursa Malaysia today, Prestariang (fundamental: 1.95; valuation: 0.3) said its wholly-owned subsidiary, Prestariang Systems Sdn Bhd, had received the letter of award from IRB.

The company will provide the services under the master licensing agreement 2.0 for IRB, effective from March 1 this year to Feb 28, 2018, for RM29.9 million, which does not include the goods and services tax.

Yinson Holdings Bhd reported flat net profit growth of RM99.73 million or 10.49 sen a share for the fourth financial quarter ended Jan 31, 2015 (4QFY15) compared with RM98.59 million or 14.33 sen a share a year ago.

Revenue was up a marginal 2% to RM253.62 million from RM249.44 million in 4QFY14, Yinson’s filing with Bursa Malaysia today showed.

The company also recommended a final dividend of 1.5 sen a share for the financial year ended Jan 31, 2015 (FY15), which is subject to shareholders’ approval at its forthcoming annual general meeting.

Berjaya Corp Bhd's (BCorp) net profit for the third financial quarter ended Jan 31, 2015 (3QFY15) surged to RM975.41 million from RM15.97 million a year earlier, due to non-operational gains.

In a filing with Bursa Malaysia today, the group said the surge in net profit was due to non-operational gains such as gain on “remeasurement” and gain on disposal of a subsidiary amounting to RM837.18 million and RM157.54 million, respectively.

Apart from the non-operational gains, BCorp (fundamental: 0.35; valuation: 1.2) said its operating profit decreased compared to a year ago because of lower progress billings registered in the property investment, development segment and the reduced contribution from the Berjaya Auto group.

For the 3QFY15, BCorp's operating profit was down 23.4% year-on-year (y-o-y) at RM174.44 million from RM227.75 million.

Revenue, however, fell 6.36% to RM2.21 billion from RM2.37 billion last year due to the deconsolidation of Berjaya Auto Bhd (fundamental: 2.35; valuation:0.30) with effect from Dec 1 last year, and property investment and development segment.

Talam Transform Bhd slipped into the red for the fourth financial quarter ended Jan 31, 2015 (4QFY15), on lower revenue and higher impairment losses of RM177.44 million.

It posted a net loss of RM124.09 million or 3.06 sen loss per share compared with a net profit of RM37.05 million or 0.76 sen earnings per share in 4QFY14. 

Revenue for 4QFY15 dropped by 46.8% to RM79.77 million against RM149.94 million a year ago, due to lower proceeds from sale of development lands.

For the full financial year ended Jan 31, 2015 (FY15), Talam Transform (fundamental: 0.45; valuation: 1.2) recorded a net loss of RM125.59 million compared with a net profit of RM21.98 million.

Revenue, however, grew by 52.83% to RM292.57 million from RM191.44 million a year ago due to more proceeds from disposals of development lands.

Beverage maker Fraser & Neave Holdings Bhd (F&N) has lost its dealership on the exclusive marketing, distribution and sale of Red Bull energy drinks in Malaysia.

F&N (fundamental: 2.1; valuation: 0.9) said its wholly-owned subsidiary F&N Beverages Marketing Sdn Bhd has today signed a transition agreement with Allexcel Trading Sdn Bhd.

Under the agreement, F&N Beverages and Allexcel Trading had mutually agreed not to renew the terms of the principal agreement as both parties are unable to reach an agreement on the changes in commercial terms.

The parties, however, have agreed to a transition period of six months, which shall commence from April 1 to Sept 30, 2015. During the transition period, F&N Beverages will hand over the exclusive dealership to Allexcel Trading in phases.

Malaysia Airports Holdings Bhd, which manages and operates 39 airports in the country, said it has completed its inaugural rights issue, raising RM1.3 billion.

The proceeds will be mainly used to repay the loan secured to fund its purchase of the remaining stake in the companies that manage and operate Sabiha Gökçen International Airport in Turkey, it said in a statement.

Selangor Properties Bhd saw its net profit for the first financial quarter ended Jan 31, 2015 (1QFY15) drop 62.6% on-year to RM58.08 million, from RM155.26 million a year ago, mainly due to the previous corresponding quarter's recognised profits for the disposal of its stake in Help International Corp Bhd.

In a filing with Bursa Malaysia today, Selangor Properties (fundamental: 2.3; valuation: 3) said its revenue, however, grew 8.2% to RM23.85 million, from RM22.05 million a year earlier.

Segmentally, Selangor Properties said its current investment properties still enjoy high occupancy and will contribute positively to the group.

On property development, it said the delay in new launches has resulted in lower revenue and the division is currently incurring losses.

About 99% of Perak Corp Bhd shareholders today voted to support a company proposal to dispose of its 15.74% stake in Integrax Bhd (fundamental: 1.65; valuation: 1.20) to Tenaga Nasional Bhd (TNB) (fundamental: 1.30; valuation: 1.80) for RM3.25 per share.

The resolution at the extraordinary general meeting (EGM) here has put to the vote by way of poll.

"We got the approval and hope that it is enough for TNB to win (in a takeover tussle with Integrax's major shareholder Amin Halim Rasip for the port operator). We hope it will be a successful exercise from TNB," Perak Corp chief executive officer Datuk Aminuddin Md Desa told reporters after the meeting.

Aminuddin also revealed that Perak Corp (fundamental: 1.9; valuation: 2.4) shareholders at the EGM were told that the board will look into a proposal to pay a special dividend to shareholders with proceeds from the sale.

Silk Holdings Bhd narrowed its net loss in the second financial quarter ended Jan 31, 2015 (2QFY15), thanks to increased revenue from its oil and gas (O&G) support services division and lower losses at its highway unit.

The offshore support vessel services provider and highway concession holder posted a smaller net loss of RM4.71 million in 2QFY15 compared with RM7.26 million a year ago.

Revenue rose 21.9% to RM103.55 million from RM84.95 million in 2QFY14.

In a filing with Bursa Malaysia today, Silk (fundamental: 0.2; valuation: 0.3) said the O&G support services division recorded a higher revenue during the quarter under review mainly due to increased capacity following the acquisition of three new vessels in the previous financial year ended July 31, 2014 (FY14), net of disposal of two vessels during the same period and improved fleet utilisation.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)