KUALA LUMPUR (Aug 8): Based on corporate announcements and news flow today, stocks in focus for tomorrow (Aug 9) may include the following: Tien Wah Press, Minetech Resources, Mesiniaga, Berjaya Assets, ML Global, Hartalega, OldTown, Seacera, XiDeLang and YKGI.
Tien Wah Press Holdings Bhd fell into the red in its second financial quarter ended June 30, 2017 with a net loss of RM14.45 million from a net profit of RM6.12 million a year ago, mainly due to the cessation of the group's Australian printing operations, which was announced on June 15.
Tien Wah said it had recorded one-off redundancy expenses of RM20.3 million and an impairment loss on machinery amounting to RM11 million as a result of the shutdown of its Australian operations.
Tien Wah declared an interim dividend of 2 sen per share, to be paid on Oct 27.
Minetech Resources Bhd has bagged a RM16.28 million subcontract for works at a Mass Rapid Transit 2 (MRT2) station.
The group, via its wholly-owned subsidiary Minetech Construction Sdn Bhd received the Letter of Acceptance from CHEC Construction (M) Sdn Bhd, for the construction, completion, testing, commissioning, care and maintenance of Sentul West Station and Escape Shaft 1.
Enterprise solutions integrator Mesiniaga Bhd reported a 32.5% increase in net profit for its second financial quarter ended June 30, 2017 to RM2.11 million or 3.5 sen per share, from RM1.6 million or 2.64 sen per share a year ago on higher revenue contribution from its services segment. It reported an 11.2% increase in revenue to RM60.24 million from RM54.18 million.
For the first half of FY17, Mesiniaga reported a net profit of RM2.99 million or 4.95 sen per share, up 73.8% from RM1.72 million or 2.85 sen per share a year ago.
Revenue came in marginally higher at RM104.5 million, marking a 0.6% increase from the RM103.84 million recorded in 1HFY16.
Berjaya Assets Bhd said it will be making an announcement on a potential venture with a foreign automaker within the next six months, to expand its automotive segment following the acquisition of Oriental Holdings Sdn Bhd (OASB).
“We have signed an NDA (non-disclosure agreement) with a major Asian brand, to represent them in Malaysia,” said executive director Koh Huey Min at an investors briefing.
“While this brand is already present here, they are not happy with the current franchise holder. We are in talks and hopefully in six months we will make the announcement on this venture."
ML Global Bhd has bagged a demolition and reconstruction works contract for Menteri Besar Selangor Incorporated (MBI Selangor) worth RM38 million.
The company, via its wholly-owned subsidiary, MITC Engineering Sdn Bhd, has accepted the letter of award from Kemudi Ehsan Sdn Bhd for demolition works of the existing structures and re-construction works for a proposed development project for MBI Selangor, comprising 203 units of double-storey terrace houses in Ijok.
Hartalega Holdings Bhd posted a 71.58% increase in net profit for the first quarter ended June 30, 2017 to RM96.39 million or 5.86 sen per share, from RM56.18 million or 3.42 sen a year on the increase in sales volume and average selling price, strengthening of the US dollar and improvement in operation efficiency.
Its quarterly revenue was up 49.58% to RM601.04 million from RM401.83 million a year ago due to the group’s expansion in production capacity and increase in demand.
OldTown Bhd has agreed to confer the right to operate restaurant business under the brand name of "OldTown White Coffee" in Shanghai, China, to Shenzhen Kopitiam Asia Pacific Ltd.
OldTown said the licence will last for five years from Aug 31 with an option to renew for two consecutive five-year terms.
Seacera Group Bhd has signed a Memorandum of Understanding with Teras Sari Resources Sdn Bhd to jointly undertake work for the Karak water supply project in Bentong, Pahang.
A joint venture between the two companies will be set up with Seacera holding a 51% stake and the remaining 49% held by Teras.
XiDeLang Holdings Ltd’s wholly-owned subsidiary, HongPeng Fujian Shoes and Garments Co Ltd, has signed a Memorandum of Collaboration which will see it receiving original design manufacturing orders of no less than 210 million renminbi (RM133.8 million).
YKGI Holdings Bhd recorded a net loss of RM4.67 million for the second quarter ended June 30, 2017 compared with a net profit of RM5.94 million in the previous corresponding quarter.
Revenue fell 20.4% to RM81.48 million from RM102.37 million.
For the first half of Y17, revenue fell 10.9% to RM182.1 million from RM204.42 million for the same period last year. Correspondingly, the group incurred a net loss of RM4.58 million for the period compared to a net profit of RM6.04 million previously.