LBS Bina, NWP, Brahim’s, CIMB, HLB, HLFG, BIMB, MRCB, Litrak, MyEG, KPJ Healthcare, MFM and MNRB

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KUALA LUMPUR (May 30): Based on corporate announcements and news flow today, stocks in focus on Thursday (May 31) may include LBS Bina Group Bhd, NWP Holdings Bhd, Brahim's Holdings Bhd, CIMB Group Holdings Bhd, Hong Leong Bank Bhd, Hong Leong Financial Group Bhd, BIMB Holdings Bhd, Malaysian Resources Corp Bhd, Lingkaran Trans Kota Holdings Bhd, My E.G. Services Bhd, KPJ Healthcare Bhd, Malayan Flour Mills Bhd and MNRB Holdings Bhd.

Property developer LBS Bina Group Bhd and timber products manufacturer NWP Holdings Bhd have decided to mutually terminate an agreement for a joint development project to transform the Zhuhai International Circuit in China, in which LBS has a 60% stake.

Both parties have agreed to revoke the Heads of Agreement (HOA) signed on March 5, LBS Bina said in a filing with the stock exchange today.

Both parties had signed the HOA to jointly develop 264 acres on land in Gaoxin district, Zhuhai in Guangdong, China.

Former Lembaga Tabung Haji chairman Datuk Seri Abdul Azeez Abdul Rahim has stepped down as non-independent and non-executive director of airline food caterer Brahim's Holdings Bhd.

In a filing with Bursa Malaysia today, Brahim's said Abdul Azeez, 51, has resigned from the airline catering services provider "by virtue of the resignation as chairman of [Lembaga] Tabung Haji".

CIMB Group Holdings Bhd's net profit rose 10.6% to RM1.31 billion in the first quarter ended March 31, 2018 (1QFY18) from RM1.18 billion a year ago, on the back of sustained cost discipline, lower provisions and an RM152 million gain from the disposal of a 50% stake in CIMB Securities International Pte Ltd to China Galaxy International Financial Holdings Ltd.

As a result, earnings per share was up at 14.15 sen for 1QFY18 compared with 13.31 sen for 1QFY17. The group’s pre-tax profit was 8% year-on-year (y-o-y) higher at RM1.74 billion, on lower operating expenses of 6.8% y-o-y and a 5.4% y-o-y decline in loan loss provisions.

However, CIMB Group’s operating income for 1QFY18 slipped a marginal 1.3% to RM4.3 billion from RM4.36 billion a year ago, mainly due to a 3.5% decline in net interest income.

Hong Leong Bank Bhd's (HLB) net profit rose 21.2% to RM690.03 million in the third financial quarter ended ended March 31, 2018 (3QFY18) from RM569.54 million a year ago, mainly due to higher net income of RM132.3 million, lower allowance for impairment losses on loans, advances and financing of RM33.1 million, and higher share of profit from associated company of RM18.5 million.

However, this was mitigated by higher operating expenses of RM25.8 million in the current quarter under review.

Earnings per share came in higher at 33.73 sen for 3QFY18 compared with 27.84 sen for 3QFY17.

Quarterly operating income also increased 11.8% to RM1.26 billion in 3QFY18 from RM1.12 billion a year ago.

Hong Leong Financial Group Bhd (HLFG) reported a 20% increase in net profit to RM502.56 million in 3QFY18 from RM418.75 million a year ago, thanks to stronger contribution from HLB.

Earnings per share also rose to 43.9 sen from 36.6 sen a year ago. Quarterly revenue grew 13.1% to RM1.39 billion from RM1.23 billion.

The group also declared a second interim dividend of 27 sen per share for the financial year ending June 30, 2018, payable on June 26.

BIMB Holdings Bhd’s net profit in the first quarter (1Q) ended March 31, 2018 rose 13.9% to RM172.14 million from RM151.10 million in the previous corresponding period.

Quarterly revenue increased to RM999.36 million from RM919.64 million previously.

In a filing with Bursa Malaysia today, BIMB said its banking segment, Bank Islam Group reported a profit before zakat and tax (PBZT) of RM207.2 million for 1Q, an increase of 7.9% or RM15.1 million compared with the corresponding period in 2017.

Bank Islam’s profit growth was mainly due to the increase in the base rate and base financing rate by 25 basis points effective February 2018, following the 25 basis points increase in overnight policy rate on Jan, 25, 2018, it said.

Builder Malaysian Resources Corp Bhd's (MRCB) net profit for the first quarter ended March 31, 2018 (1QFY18) more than doubled to RM21.53 million compared with RM8.64 million in the previous year, thanks to a stronger performance from the engineering, construction and environment division.

Earnings per share rose to 0.49 sen versus 0.4 sen per share in 1QFY17, while revenue fell by 18% to RM427.6 million from RM519.84 million a year ago.

Highway operator Lingkaran Trans Kota Holdings Bhd (Litrak) posted a 6.32% increase in net profit to RM52.82 million for the fourth quarter ended March 31, 2018, from RM49.68 million a year ago, owing to lower maintenance costs and reduced losses in its associate company, Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd.

Quarterly revenue, however, slipped 2.51% to RM127.87 million, from RM131.16 million a year ago, on the back of smaller toll takings as a result of lower traffic volume plying Lebuhraya Damansara-Puchong.

My E.G. Services Bhd reported an 8.6% increase in net profit for its third financial quarter ended March 31, 2018 (3QFY18) to RM58.55 million from RM53.9 million a year earlier, on higher transaction volumes for its foreign worker services.

These include higher transaction volumes from the online renewal of foreign workers’ permits (FWP), foreign workers rehiring programme services (FWR services) and foreign workers’ insurance from both FWP and FWR services, the group said in a bourse filing.

The e-government services provider also saw contribution from its foreign worker job matching and placement programme which commenced in 2QFY18 and increase in revenue contribution from its motor vehicle trading related services

Revenue for 3QFY18 grew by 12.4% to RM111.53 million from RM99.22 million in 3QFY17.

Hospital operator KPJ Healthcare Bhd’s net profit for the first quarter (1Q) ended March 31, 2018 increased to RM45.48 million from RM40.05 million in the same quarter last year.

Revenue increased 6% to RM822.9 million from RM779.2 million previously.

Malayan Flour Mills Bhd’s (MFM) net profit for the first quarter ended March 31, 2018 (1QFY18) plunged 93.6% to RM1.6 million, from RM24.91 million in 1QFY17.

The fall in profits was due to higher wheat costs in its flour and grains trading segment coupled with lower sales volume and price of live birds for its poultry integration segment.

Earnings per share for 1QFY18 came in lower at 0.29 sen, compared with 4.53 sen in 1QFY17, the group reported in its filing with the exchange this evening.

Revenue for 1QFY18 fell 6.7% to RM563.82 million from RM604.18 million in the same period a year ago.

MNRB Holdings Bhd reported a 15.62% rise in net profit in the fourth quarter ended March 31, 2018 (4QFY18) to RM29.41 million, from RM25.43 million a year ago, boosted by its business rationalisation exercise, termination of unprofitable ventures, lower management expenses and higher fee income.

In addition, the higher profit was also supported by net gains from the capital reduction exercise in Sinar Seroja Bhd, MNRB said in a filing with Bursa Malaysia today.

Quarterly revenue, however, was 10.76% lower at RM636.71 million compared with RM713.49 million a year ago, on lower contributions from its re-insurance business via Malaysian Reinsurance Bhd (Malaysian Re) and Islamic insurance unit, Takaful Ikhlas Bhd.