Westports, BHS Industries, PetGas, PetDag, Destini, XOX, Samchem, Mudajaya, Dialog and KNM

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KUALA LUMPUR (Nov 10): Based on corporate announcements and news flow today, stocks in focus on Monday (Nov 13) may include Westports, BHS Industries, PetGas, PetDag, Destini, XOX, Samchem, Mudajaya, Dialog and KNM.

Westports Holdings Bhd saw a marginal drop in its net profit for the third financial quarter ended Sept 30, 2017 (3QFY17) on lower container throughput and higher fuel cost compared to lower fuel prices in 3QFY16.

Its net profit for 3QFY17 was down 0.14% to RM150.82 million, from RM151.03 million in 3QFY16, while its revenue came in 3.8% higher at RM492.28 million from RM474.41 million a year ago.

Westports said its container operations handled a total throughput of 6.8 million twenty-foot equivalent unit (TEU) during the nine-month period ended Sept 30, 2017.

Gateway containers, which reflected favourable domestic economic activities growth, increased by 8% over the previous corresponding period, it said.

BHS Industries Bhd's (BHS) wholly-owned subsidiary Nextgreen Sarawak Sdn Bhd has teamed up with Bau Palm Oil Mill Sdn Bhd, a company managed by Sarawak Land Consolidation & Rehabilation Authority (SALCRA), to construct a biogas plant and integrated wastewater treatment plant at SALCRA's palm oil mills.

BHS managing director Datuk Lim Thiam Huat said this project aims to revolutionise the pulp and paper industry by providing a new source of eco-friendly and sustainable paper and pulp.

Petronas Gas Bhd (PetGas) announced today that its net profit for 3QFY17 slipped a marginal 1.2% to RM417.43 million, from RM422.71 million a year ago, as a result of lower gross profit due to higher depreciation.

PetGas said this was in line with the completion of capital projects and higher utilities cost of sales arising from upward fuel gas price revisions effective Jan 1 and July 1.

Quarterly revenue saw a slight 0.4% year-on-year (y-o-y) increase to RM1.163 billion, from RM1.158 billion, due to higher contribution from its utilities and regasification segments, offsetting lower gas processing and gas transportation revenue.

PetGas declared a third interim dividend of 16 sen per ordinary share, payable on Dec 8, 2017. This brings its cumulative payout for FY17 to date to 50 sen, versus 45 sen in the same period last year.

Petronas Dagangan Bhd's (PetDag) net profit in 3QFY17 jumped three times y-o-y to RM761.73 million, from RM248.76 million, on higher sales volume, better margins and a gain on the disposal of a subsidiary.

During the quarter, the group sold its 100% interest in Petronas Energy Philippines Inc and a 40% interest in an associated company, Duta Inc, to P-H-O-E-N-I-X Petroleum Philippines Inc, which gave rise to a disposal gain of RM424.6 million.

Group revenue climbed 22.1% to RM6.69 billion, from RM5.48 billion, driven by a 3% increase in sales volume and an 18% rise in average selling price, it said, in tandem with higher average Mean of Platts Singapore (MoPS) prices.

The group declared an interim dividend of 20 sen per share for the quarter — 6 sen higher than the 14 sen it paid in the same period last year — payable on Dec 8. This raises its year-to-date dividend (paid and declared) for FY17 to 48 sen versus 40 sen in the same period last year.

Destini Bhd will be partnering with Singapore's Federal International (2000) Ltd to collectively bid for oil and gas projects in the South Asia and South East Asia region.

Upon the completion of the joint venture and shareholders agreement, Destini's wholly-owned subsidiary, Destini Oil Services Sdn Bhd (DOS), and Federal International's wholly-owned subsidiary, Federal Hardware Engineering Co Ltd, will incorporate a 50:50 joint venture company (JVCo) in Singapore.

Through the JVCo, projects that it intends to bid for are floating production systems in greenfield development, transportation and installation services, well abandonment and field decommissioning services, and downhole and well workover services.

XOX Bhd announced today that it has entered into a collaboration agreement with Indonesia's PT Inovasi Telematika Nusantara and Pengurus Besar Nahdlatul Ulama (PBNU), for the development of a mobile application using its Voopee solution.

On July 28, the parties had signed a memorandum of understanding to collaborate on the development of a mobile application known as Nahdlatul Ulama (NU) by deploying XOX's Voopee solution.

The NU mobile application will offer SIM-less mobile services and a platform to engage various other services like government, banking, education and e-wallet for PBNU users.

Samchem Holdings Bhd's net profit for 3QFY17 almost doubled to RM6.31 million from RM3.26 million in the corresponding quarter a year ago, mainly due to higher sales.

Quarterly revenue rose 41.6% to RM242.62 million from RM171.26 million last year, mainly due to the strategic market positioning of the group in the region.

Mudajaya Group Bhd announced today it is withdrawing from RM810 million contract it was awarded last year by Consortium Zenith Construction Sdn Bhd for construction work in Penang over "uncertainties" of the project.

Under the deal, Mudajaya was supposed to build major roads under Package 2 (the Ayer Itam to Lebuhraya Tun Dr Lim Chong Eu by-pass) and the Third Link Project in Penang, which it bagged via its wholly-owned unit Mudajaya Corp Bhd in December 2016.

Dialog Group Bhd is going to lease two plots of land in Johor from Johor Corp (JCorp) for 30 years and buy a tank terminal facility from the Johor state investment corporation, to expand its tank terminal storage capacity and operations at Tanjung Langsat.

Dialog said it has inked a lease agreement and a sale and facilities agreement with JCorp via its indirect unit, Langsat Terminal (Three) Sdn Bhd, to effect the transactions, valued at RM153 million in all.

The 30-year deal for the plots, measuring a combined 35 acres, is for a total lease rental of RM62 million, while the price of the tank terminal facility, which is located on one of the plots, is RM91 million.

KNM Group Bhd has proposed a private placement of up to 10% of its issued shares to independent investors to raise up to RM53.32 million, mainly to repay bank borrowings.

KNM said the exercise involves the issuance of up to 213.28 million placement shares, at an issue price to be fixed.

Of the proceeds to be raised, it said RM40 million will be used to repay bank loans, while the remaining RM13.32 million will be used for working capital.