KUALA LUMPUR (Nov 28): Based on corporate announcements and news flow today, companies in focus tomorrow (Nov 29) may include: 7-Eleven Malaysia Holdings Bhd, Caring Pharmacy Group Bhd, Genting Bhd, Genting Malaysia Bhd, Tenaga Nasional Bhd, DRB-Hicom Bhd, Heineken Malaysia Bhd, Press Metal Aluminium Holdings Bhd, Dutch Lady Milk Industries Bhd, My E.G. Services Bhd, UMW Holdings Bhd, KPJ Healthcare Bhd, Supermax Corp Bhd, Berjaya Corporation Bhd, Lingkaran Trans Kota Holdings Bhd, Tropicana Corp Bhd, Velesto Energy Bhd, Kumpulan Perangsang Selangor Bhd, Affin Bank Bhd, Karex Bhd, Sarawak Oil Palms Bhd, and Star Media Group Bhd.
7-Eleven Malaysia Holdings Bhd plans to acquire a 25.35% stake in Caring Pharmacy Group Bhd, raising the company’s and related parties’ shareholding in the pharmacy chain to 38.57%, forcing a mandatory general offer (MGO) for the remaining shares, at a cash offer price of RM2.60 per share.
The acquisition will be undertaken by 7-Eleven's wholly-owned Convenience Shopping (Sabah) Sdn Bhd (CSSSB) from Motivasi Optima Sdn Bhd. CSSSB and parties acting in concert with it — 7-Eleven, Berjaya Group founder Tan Sri Vincent Tan, Jitumaju Sdn Bhd and U Telemedia Sdn Bhd — currently hold an aggregate 13.22% stake in Caring.
The convenience store operator intends to maintain the listing status of Caring on the Main Market of Bursa Securities subsequent to the MGO.
Genting Bhd posted a net profit of RM305.68 million for the third quarter ended Sept 30, 2019, versus a net loss of RM275.8 in the year-ago period on lower net impairment losses. Revenue, however, dipped 1.61% to RM5.29 billion from RM5.38 billion.
Cumulative nine-month earnings doubled to RM1.48 billion or 38.1 sen a share from RM710.42 million or 18.53 sen a share last year, as revenue grew 5.55% to RM16.31 billion from RM15.46 billion.
Its subsidiary Genting Malaysia Bhd posted a net profit of RM410.84 million for the third quarter ended Sept 30, 2019 (3QFY19), following an RM1.49 billion loss in the same period last year. Quarterly revenue increased by 1.11% to RM2.63 billion.
For the nine months ended Sept 30, 2019 (9MFY19), the group posted a net profit of RM1.1 billion, up from the RM739.73 million registered in the corresponding period last year. Nine-month revenue increased 7.34% to RM7.96 billion from RM7.42 billion last year.
Tenaga Nasional Bhd has received notices of additional assessments from the Inland Revenue Board that amounted to RM3.98 billion for the years of assessment 2015 to 2017. Based on the legal advice obtained, TNB said it has good basis to contend that there is no legal and factual basis for the Inland Revenue Board to issue the said notices.
DRB-Hicom Bhd reported a net profit of RM40.08 million for the three months ended Sept 30, 2019, compared to a net loss of RM11.42 million a year ago, thanks to Proton and an exceptional gain on disposal of RM33.59 million. Revenue rose 12.9% on-year to RM3.59 billion from RM3.18 billion previously.
For the six-month period, DRB-Hicom registered a net profit of RM86.29 million, versus a net loss of RM78.02 million in the year-ago period. Cumulative revenue rose 20.4% to RM7.03 billion from RM5.84 billion.
Heineken Malaysia Bhd posted a 31% increase in net profit to RM103.3 million in the third quarter ended Sept 30, 2019 (3QFY19) from RM78.87 million a year ago, on higher revenue and improved cost efficiency, as well as the timing of commercial spend for new product launches executed during the quarter. Revenue for the quarter also rose 17.7% to RM602.53 million from RM512.01 million.
Net profit for the cumulative nine months (9MFY19) was up 21.5% to RM221.8 million from RM182.52 million a year ago, while revenue was up 19.9% to RM1.64 billion from RM1.37 billion.
Press Metal Aluminium Holdings Bhd’s net profit fell 25.2% to RM121.51 million for the third quarter ended Sept 30, 2019 (3QFY19) from RM162.49 million in the year-ago quarter, on lower aluminium prices and the absence of net exceptional income of RM34.65 million. Quarterly revenue contracted 10.7% on-year to RM2.12 billion from RM2.37 billion.
Press Metal approved a third interim dividend of 1.25 sen per share, payable on Dec 30. For the cumulative nine-month period, its net profit fell 28.3% to RM339.5 million from RM473.57 million a year ago, while revenue slipped 7.3% to RM6.43 billion from RM6.94 billion.
Dutch Lady Milk Industries Bhd's net profit fell 26.33% to RM25.2 million for the third quarter ended Sept 30, 2019 from RM34.21 million last year, although revenue rose 7.49% to RM276.31 million from RM257.05 million previously.
The company declared an interim dividend of 50 sen per share, payable on Dec 24. Meanwhile, net profit for the cumulative nine-month period was down 23.05% at RM76.29 million or RM1.19 a share from RM99.15 million or RM1.55 a share last year. Revenue grew 0.96% to RM784.91 million.
My E.G. Services Bhd (MyEG) posted a net profit of RM60.43 million on revenue of RM119.14 million for the quarter ended Sept 30, 2019. In the 12-month period, net profit came in at RM235.31 million with revenue of RM476.25 million. There are no comparative figures for this period as the group has changed its financial year end from Sept 30 to Dec 31.
UMW Holdings Bhd declared a special dividend of four sen per share payable on Dec 23, despite a nearly 14% year-on-year drop in quarterly net profit of RM110.29 million for the three months ended Sept 30 (3QFY19) from RM128.12 million previously. Quarterly revenue fell 12% to RM2.88 billion in 3QFY19 compared with RM3.28 billion a year ago.
For the nine months ended Sept 30, 2019 (9MFY19), the group’s cumulative net profit was also down by 22.3% to RM253.9 million from RM326.58 million a year ago. Revenue for 9MFY19 was flat at RM8.62 billion.
KPJ Healthcare Bhd's net profit in the third quarter ended Sept 30, 2019 (3QFY19) rose 12.38% to RM46.41 million from RM41.3 million, lifted by a record high quarterly revenue and stronger contribution from associates. Revenue rose 10.47% to RM906.44 million from RM820.56 million previously, thanks to growth from both its continued operations in Malaysia and Indonesia.
It declared an interim dividend of 0.5 sen per share for FY19, to be paid on Feb 14, 2020.
For the nine-month period ended Sept 30 (9MFY19), KPJ's net profit climbed 0.99% to RM127.37 million against RM126.12 million in the year-ago period. Revenue in 9MFY19 rose 7.24% to RM2.62 billion from RM2.44 billion previously.
Supermax Corp Bhd started its new financial year with a 31% drop in first quarter net profit to RM24.75 million from RM35.94 million a year earlier, although revenue rose to RM369.94 million from RM367.05 million, as its earnings were impacted by lower average selling prices and an increase in production costs.
Berjaya Corporation Bhd, which posted a net loss of RM54.23 million in the first quarter ended Sept 30, 2019, on revenue of RM2.07 billion, has warned that given prevailing economic conditions and the global financial outlook, its operating environment will remain challenging. No comparative figures were disclosed for the current quarter following the company's change in its financial year end to June 30.
Lingkaran Trans Kota Holdings Bhd’s (Litrak) net profit rose 13.9% on year to RM68.98 million in its second financial quarter ended Sept 30, 2019 (2QFY20) from RM60.56 million, on lower maintenance expenses and finance cost. Revenue slipped 0.8% to RM131.19 million on lower LDP traffic volume.
Net profit for the cumulative six months (1HFY20) rose 18.1% to RM136.75 million from RM115.8 million a year ago, while revenue rose by a marginal 0.6% to RM260.03 million from RM258.49 million in 1HFY19.
Tropicana Corp Bhd’s net profit halved to RM16.8 million in the third quarter ended Sept 30, 2019 (3QFY19) from RM34.15 million a year ago on 19.9% lower revenue, as well as fixed general and administrative expenses recorded in the current quarter.
Net profit for the cumulative nine months fell 14.1% to RM101.88 million from RM118.55 million a year ago, while revenue fell 27.5% to RM755.35 million from RM1.04 billion.
Velesto Energy Bhd posted a net profit of RM33.32 million in the third quarter ended Sept 30, 2019 (3QFY19) compared to a net loss of RM13.6 million a year ago. Quarterly revenue expanded 38% to RM208.5 million in 3QFY19 from RM150.32 million.
Cumulative net profit came in at RM22.8 million compared to a net loss of RM33.5 million a year ago. Revenue for the nine-month period grew 28.3% to RM492.65 million from RM383.9 million a year ago.
Kumpulan Perangsang Selangor Bhd (KPS) recorded a net profit of RM6.67 million for the three months ended Sept 30, 2019, versus a net loss of RM274.57 million in the same quarter last year — when it recorded a share of loss from its associate Syarikat Pengeluar Air Selangor Holdings Bhd. Revenue grew 64.6% to RM252.95 million from RM153.64 million.
For the nine months ended Sept 30, 2019 (9MFY19), the group posted a net profit of RM10.76 million versus a net loss of RM223.05 million a year ago, while revenue grew 38.7% to RM569.57 million from RM410.76 million.
Affin Bank Bhd’s net profit for the third quarter ended Sept 30, 2019 halved to RM72.4 million from RM144.56 million last year, mainly due to an allowance for credit impairment losses of RM43.11 million as well as lower net interest income. Quarterly revenue, meanwhile, slipped 4.43% to RM474.26 million from RM496.25 million.
The bank managed to report a slightly higher net profit of RM365.66 million or 18.44 sen per share for the cumulative nine-month period, up 1.76% from RM359.34 million or 18.49 sen per share last year.
Karex Bhd posted a net loss of RM167,000 for 1QFY20 versus a net profit of RM1.98 million a year ago, on high raw material prices, as well as ongoing social compliance costs.
Revenue for the quarter, however, rose 3.9% to RM95.73 million from RM92.16 million in 1QFY19, thanks to contribution from the sexual wellness business which grew by 5.1% year-on-year due to stronger condom sales from the commercial and own-brand segments.
Sarawak Oil Palms Bhd’s net profit grew 74% to RM30.91 million in the third quarter ended Sept 30, 2019 (3QFY19) from RM17.73 million last year, thanks to margin improvement in palm products sold despite an 18% drop in quarterly revenue to RM716.31 million from RM870.34 million. For the first nine months of FY19, its net profit fell 25% to RM40.93 million from RM54.33 million last year as revenue fell 20% to RM2.05 billion from RM2.55 billion.
Star Media Group Bhd reported a lower net profit of RM250,000 in its third quarter ended Sept 30, 2019 (3QFY19) compared with RM1.6 million in the year-ago quarter as revenue sank 13% to RM79.58 million from RM91.12 million. The group had also recognised a gain on the disposal of Leaderonomics of RM3.33 million in 3QFY18.
For the nine-month period, Star Media’s net profit fell 62% to RM5.45 million from RM14.33 million in the corresponding period last year, as revenue contracted 20% to RM239.87 million from RM299.64 million.