KUALA LUMPUR (July 27): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (July 28) could include: Syarikat Takaful, MAHB, Cepatwawasan, Reliance Pacific, DNeX, Texchem and TAS Offshore.

Syarikat Takaful Malaysia Bhd's net profit for the second quarter ended June 30, 2016 (2QFY16) rose 16.9% to RM45.53 million from RM38.95 million, mainly attributable to higher wakalah fee income.

Revenue came in 6.6% higher at RM462.21 million against RM433.53 million in 2QFY15, mainly due to higher sales generated by both the family takaful and general takaful business, the company said in bourse filing.

For the first half of the financial year ended Dec 31, 2016 (1HFY16), Takaful Malaysia's net profit rose 8.2% to RM92.16 million from RM85.17 million, underpinned by higher wakalah fee income.

Revenue rose 9.4% to RM1.09 billion from RM995.99 million in 1HFY15, also due to higher sales generated by both the family takaful and general takaful business.

On prospects, Takaful Malaysia said it will continue its value proposition of rewarding its customers with 15% cash back for general takaful products and establish a strong foothold in the local insurance and takaful arena, as the preferred choice for insurance.

Moody's Investors Service has changed Malaysia Airports Holdings Bhd's (MAHB) outlook to 'negative' from 'stable' to reflect the heightened operating challenges faced by the airport operator's unit in Istanbul.

Nonetheless, Moody's has affirmed MAHB's A3 issuer rating.

Moody's said the change in outlook to negative principally reflects the dismal outlook for MAHB's wholly-owned subsidiary, Sabiha Gokcen International Airport (SGIA), which owns and operates the second largest airport in Istanbul, Turkey.

"We expect SGIA to experience a material decline in passenger traffic growth in the next 12 to 18 months, following the coup attempt that ended on July 16, as well as the terrorist attacks that occurred earlier this year," said Moody's vice president and senior analyst Ray Tay.

"As such, growth in passenger traffic at SGIA could decline to low single-digits for 2016 and potentially 2017; and international travel, in particular, will likely be hit," he said.

According to Moody's, the expected weakness in the Turkish operations would be occurring at a time when MAHB's Malaysia operations are experiencing modest growth, following the series of airline disasters that occurred in 2014, as well as the completion of route rationalisation by Malaysia Airlines Bhd in 2016.

Cepatwawasan Group Bhd's net profit climbed 55.1% to RM5.07 million or 1.64 sen per share in its second quarter ended June 30, 2016 (2QFY16) from RM3.27 million or 1.06 sen per share a year ago due to a 44% increase in power sales and lower operating cost.

Revenue dropped about 5% to RM51.28 million compared to RM53.98 million in the corresponding quarter a year ago due to a decrease in crude palm oil and palm kernel sales volume by 30% and 33% respectively, despite an increase in their prices by 19% and 62%.

In a bourse filing, Cepatwaswasan said the plantation segment saw a 20% increase in pre-tax profit from RM5.65 million last year, mainly due to higher fresh fruit bunch (FFB) price.

For the six-month period (1HFY16), net profit dropped 29% to RM4.66 million or 1.51 sen per share from RM6.57 million or 2.13 sen per share a year ago as a result of lower oil extraction rate as well as lower milling margin due to stiff competition in sourcing for FFB, and lower FFB production.

Revenue slipped 6.47% to RM90.17 million from RM96.41 million in 1HFY15, it said.

The effect of the El Nino phenomenon has adversely affected the group's FFB production in the first quarter; but for 2QFY16, the group experienced a steady increase in crop production, suggesting that the worst of the El Nino impact on yield may be over.

Datuk Md Wira Dani Abdul Daim, the largest shareholder of Reliance Pacific Bhd with a 30.96% stake, has been appointed as an executive director in the travels and tour operator.

In a bourse filing, Reliance said Md Wira Dani, the 37-year-old son of former finance minister Tun Daim Zainuddin and who is actively involved in his family's merger and acquisitions business activities in Malaysia, Indonesia and Africa, has come on board.

In a separate filing, Reliance said its chief executive officer Datin Irene Tan, 61, will be quitting her post from Sept 30, 2016.

Tan and her husband, Reliance founder Datuk Gan Eng Kwong, had disposed of 37.34 million shares representing a 4.35% indirect stake in the company held via Reliance Holdings Sdn Bhd and through nominees to Mazmur Capital Sdn Bhd.

Dagang NeXchange Bhd (DNeX) expects to receive RM97.7 million in gross proceeds after its 465.1 million rights issue was oversubscribed by 23%, when it closed on July 20.

Total valid acceptances amounted to 402.16 million rights shares or 86.46%, and total valid excess applications was 168.3 million rights shares or 36.18%, which made up 570.4 million shares or 122.64%, it said in a bourse filing.

In a statement, DNeX added that its special issue of 130 million new shares would be fully subscribed, raising gross proceeds of RM28.6 million to fund the growth of its information technology and energy sectors.

DNeX said the rights shares and warrants are expected to be listed and quoted on the Main Market of the local exchange on Aug 3.

Meanwhile, the RM97.7 million proceeds will be mainly used to finance the group's acquisitions of OGPC Sdn Bhd and OGPC O&G Sdn Bhd, collectively known as OGPC Group.

Following the completion of the rights issue, special issue and issuance of new shares to fund the acquisition of OGPC Group, DNeX's shareholder base will be enlarged to 1.7 billion shares.

Texchem Resources Bhd sank into the red in the second quarter ended June 30, 2016 (2QFY16) with a net loss of RM3.52 million, due to weaker performance from its food and restaurant business. It posted a net profit of RM558,000 in 2QFY15.

Quarterly revenue rose 5% to RM248.47 million from RM236.7 million a year earlier, due to an increase in revenue from the industrial and food divisions, its bourse filing revealed today.

For the six months ended June 30, 2016 (1HFY16), Texchem posted a net loss of RM5.73 million or 4.69 sen per share compared to a net profit of RM5.54 million or 4.47 sen per share, also dragged down by its food and restaurant division.

Revenue for the period fell 1.7% to RM505.3 million from RM513.79 million, as turnover from its industrial, polymer engineering and restaurant divisions declined.

Given the diversity of its business, Texchem expects its restaurant division's performance to improve on anticipation that domestic consumer demand will recover.

It stressed that both the industrial and polymer engineering divisions will continue to be influenced by global demand and their performance will be dependent on the expected gradual recovery of the global economy.

TAS Offshore Bhd made a net loss of RM19.7 million due to cancellation of shipbuilding jobs and an impairment loss on trade receivables in its fourth quarter ended May 31, 2016 (4QFY16). It registered a net profit of RM2.27 million in the corresponding quarter a year ago.

The group recorded a negative turnover of RM6.5 million for 4QFY16 as compared to a revenue of RM73.9 million in 4QFY15, its bourse filing today showed.

For the full year ended May 31, 2016 (FY16), the group recorded a net loss of RM22.8 million compared to a net profit of RM12.5 million in FY15, as revenue dropped 55.7% to RM122.3 million from RM275.9 million.

The weak results notwithstanding, the company remains optimistic about its prospects going forward.

"The demand for oil in Asian region has been steady and consistent amidst the development progresses in countries like China and India and in smaller nations like Thailand, Taiwan, Singapore, Malaysia and Indonesia," it said.