KUALA LUMPUR (Nov 29): Based on corporate announcements and news flow today, stocks in focus on Friday (Nov 30) may include: AirAsia Group Bhd, DRB-Hicom Bhd, Cahya Mata Sarawak Bhd, Padini Holdings Bhd, GHL Systems Bhd, Utusan Melayu Bhd, Genting Plantations Bhd, Malayan Banking Bhd, CIMB Group Holdings Bhd, IHH Heathcare Bhd, Sapura Energy Bhd, Malaysia Airport Holdings Bhd and Kumpulan Perangsang Selangor Bhd.

AirAsia Group Bhd’s net profit jumped 81.2% to RM915.88 million in the third quarter ended Sept 30, 2018 from RM505.33 million last year. This was due to a one-off gain on the sale of Expedia.

Quarterly revenue grew 6.6% to RM2.61 billion from RM2.45 billion due to a 9% rise in total passengers carried. However, quarterly operating profit halved to RM253 million from RM494 million a year ago due to higher fuel expense.

Cumulative nine months net profit rose to RM2.42 billion from RM1.27 billion with revenue up 10.3% to RM7.78 billion, from RM7.05 billion.

DRB-Hicom Bhd has posted a net loss of RM11.42 million for the second quarter ended Sept 30, 2018 versus a net profit of RM742.6 million a year ago due to absence of R&D reimbursement grant of RM1.1 billion obtained for Proton in the previous quarter.

Quarterly revenue fell 1.74% on-year to RM3.18 billion from RM3.24 billion  due to the property sector recording lower sales. For the six-month period, the group booked a loss of RM78.02 million against a net profit of RM559.8 million in the same period last year, while half-year revenue fell 8.34% to RM5.84 billion from RM6.37 billion.  

Cahya Mata Sarawak Bhd is acquiring a 56% stake in Borneo Granite Sdn Bhd for RM31 million to solve the shortage of stone supply for the Pan Borneo Highway project.

Padini Holdings Bhd’s net profit declined 42.5% to RM17.96 million for the first quarter ended Sept 30, 2018 from RM31.2 million a year ago due to margin compression. Quarterly revenue was up slightly by 4.6% to RM329.8 million against RM315.18 million a year ago, mainly contributed by increase in sales in its Brands Outlets.

GHL Systems Bhd is buying Speed Pay Plc for US$2.04 million (about RM8.55 million) in cash to expand its footprint in Cambodia. GHL will pay US$448,284 to subscribe to the new shares of Spee Pay, representing 18.13% of the Speed Pay’s enlarged share capital and will also pay US$1.59 million to the shareholders of Speed Pay, namely Lim Sambat and Da Sopheak, to purchase a stake in Speed Pay of 32.87%, using internally-generated funds.

Utusan Melayu (Malaysia) Bhd reported a net loss of RM33.9 million for the third quarter ended Sep 30,2018 on the back of  lower revenue. Revenue dropped more than half to RM40.11 million from RM93.44 million due to lower revenue from its Tutor Guru. For the first nine months of the year, Utusan posted a higher net loss of RM42.4 million compared with RM2.07 million previously as revenue fell 16% to RM159.5 million from RM188.78 million.

Genting Plantations Bhd’s net profit for its third quarter ended September declined by 69% to RM23.5 million from RM76.46 million due to depressed prices for palm products, while revenue increased by 12.7% to RM488.84 million from RM433.89 million due to improved offtake from its downstream manufacturing. Nine months net profit declined by 31.5% to RM150.63 million from RM219.74 million while revenue grew 11% to RM1.42 billion from RM1.28 billion before.  

Malayan Banking Bhd (Maybank) said its 3Q net profit fell 3% to RM1.96 billion from RM2.03 billion last year on lower net operating income, while revenue rose to RM12.06 billion from RM11.59 billion. Nine-month net profit climbed to RM5.79 billion from RM5.39 billion a year ago while revenue was also higher at RM35.09 billion compared with RM33.79 billion.

CIMB Group Holdings Bhd’s 3Q net profit rose 4.2% to RM1.18 billion from RM1.13 billion a year earlier, largely attributed to all segments except wholesale banking. Revenue slipped to RM4.14 billion from RM4.42 billion previously due to a decline in non-interest income and net interest income. Nine-month net profit rose to RM4.47 billion from RM3.41 billion in the previous year, while revenue was higher at RM13.31 billion compared with RM13.11 billion a year ago.

Khazanah Nasional Bhd is divesting a 16% stake in IHH Healthcare Bhd to Mitsui & Co Ltd for RM8.42 billion. Following the divestment, its stake in IHH will drop to 26.05% which is based on the enlarged share capital of IHH after completion of the acquisition of a 30% additional equity interest in Acibadem Saglik Yatirimlari Holdings A.S. IHH announced the Acibadem acquisition on Oct 8.

Sapura Energy Bhd has secured shareholders’ approval for its proposed rights issue to raise up to RM3.98 billion to pare debt.

Ongoing negotiation between Putrajaya and Malaysia Airports Holdings Bhd for the review of the operating agreement may result in creation of five airport zones, which currently have two OAs — one in both KL airports and the other for other airports. The five zones are KLIA terminals, airports in northern peninsula, Sabah, Sarawak and other airports. Transport Minister Anthony Loke said the government wants to give room to MAHB to find fresh funds through JVs with new stakeholders to develop the airports.

Kumpulan Perangsang Selangor Bhd posted a net loss of RM274.57 million for 3Q ended Sept 30, against a net profit of RM12.87 million a year ago. The net loss was due to its share in its 30%-owned associate SPLASH. Revenue increased by 79.5% to RM153.64 million from RM85.6 million due to contributions from new subsidiaries. Nine-month net loss rose to RM223.05 million from RM67.76 million while revenue increased by 72.37% to RM410.76 million from RM238.31 million.