Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 26): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Friday, Nov 27) could include the following: AirAsia, FGV, UEM Sunrise, IHH Healthcare, Sime Darby, Maybank, Telekom, YTL Corp, Pharmaniaga, Iris, Genting and Genting Malaysia.

Low-cost carrier AirAsia Bhd sank into the red in its third quarter ended Sept 30, 2015 (3Q15) with a net loss of RM405.72 million, dragged down by a foreign exchange (forex) loss on borrowings and losses from the share of results of associates and jointly-controlled entities, as well as one-off costs related to the sale and leaseback of aircraft.

Its forex loss came in at RM435.98 million, its filing to Bursa Malaysia today showed; it recorded a net profit of RM5.4 million in the previous year's corresponding period.

Its latest quarterly revenue, however, was up 15% at RM1.52 billion from RM1.32 billion last year; the strong revenue growth was on the back of a remarkable 19% growth in the number of passengers carried at 6.29 million in the quarter, ahead of a 7% capacity growth, which allowed the group to record a high load factor of 82% — a five percentage point year-on-year (y-o-y) growth.

Its 3Q quarterly loss, however, saw the group posting a net loss of RM13.37 million in the cumulative nine months ended Sept 30 (9MFY15), compared with a net profit of RM512.27 million in 9MFY14.

This resulted in a 9MFY15 loss per share of 0.5 sen, versus an 18.4 sen earnings per share (EPS) registered in the same period last year.

Felda Global Ventures Holdings Bhd (FGV) saw its third-quarter net loss widen more than three times to RM33.92 million or 0.9 sen loss per share from RM9.33 million or 0.3 sen loss per share a year ago, on lower contribution from its palm plantation and trading, marketing and logistics segments.

This was despite posting a higher revenue of RM4.51 billion for the third quarter ended Sept 30, 2015 (3QFY15), up 13.8% from RM3.96 billion in 3QFY14.

Nevertheless, the group declared an interim dividend of 2 sen per share for the financial year ending Dec 31, 2015 (FY15), equivalent to a total dividend payout of RM72.96 million, payable on Dec 28.

The weaker 3QFY15 earnings dragged FGV's net profit down by 94.5% to RM15.74 million or 0.4 sen a share for the cumulative nine-month period (9MFY15) from RM286.16 million or 7.8 sen a share in 9MFY14.

Revenue for 9MFY15 was marginally higher at RM11.41 billion compared with RM11.34 billion in 9MFY14.

On its prospects, FGV said the environment remains challenging, with the slowdown in the Chinese economy, uncertain global financial markets and volatile forex rates.

UEM Sunrise Bhd's net profit fell 33.2% to RM47.7 million for the third quarter ended Sept 30, 2015 (3QFY15) from RM71.5 million a year ago, on lower property development revenue, higher finance cost, and lower contribution from associates and joint ventures.

Revenue for 3QFY15 declined 25.06% to RM353.06 million from RM471.14 million in 3QFY14, due to lower development revenue.

For the nine-month period (9MFY15), UEM Sunrise's net profit declined almost 11% to RM184.79 million from RM207.54 million, while revenue was 13.64% lower at RM1.14 billion from RM1.32 billion.

As at Sept 30, the group's unrecognised revenue has risen to RM4.1 billion from RM2.8 billion a year ago, which it said will continue to contribute towards the group's revenue and earnings for the year.

IHH Healthcare Bhd's net profit dropped 19.34% in its third quarter ended Sept 30, 2015 (3QFY15) to RM118.49 million or 1.44 sen per share, from RM146.91 million or 1.8 sen per share in the same period last year, due to unrealised forex losses.

The leading premium healthcare provider said it recorded RM217.1 million exchange losses, with the translation of its non-Turkish Lira denominated borrowings by Acibadem Holdings during the quarter.

Meanwhile, revenue for the quarter under review came in 15.73% higher at RM2.06 billion, from RM1.78 billion a year ago, underpinned by organic growth at its existing hospitals and the ramping up of three newer hospitals, namely Acibadem Atakent Hospital in Turkey, and Pantai Hospital Manjung and Gleneagles Kota Kinabalu in Malaysia.

For the cumulative nine-month period (9MFY15), IHH's net profit inched up 0.6% to RM518.08 million or 6.31 sen per share from RM515.06 million or 6.31 sen per share due to the same reason, while revenue for the period gained 13.86% to RM6.16 billion from RM5.41 billion in 9MFY14.

Meanwhile, IHH has announced that Low Soon Teck will be its new chief financial officer (CFO) from Jan 10, 2016.

Low, 50, a Singaporean, will replace Tan See Haw, 59, who will be stepping down as CFO of the healthcare group on Jan 9 next year.

Sime Darby Bhd recorded a 34% drop in net profit to RM328.39 million for the first quarter ended Sept 30, 2015 (1QFY16) from RM500.69 million last year, on lower revenue from its mining equipment, and automotive units.

Sime Darby said property and port operations revenue also fell while plantation top line rose during 1QFY16.

Its 1QFY16 revenue increased marginally to RM10.17 billion from RM10.12 billion in 1QFY15.

The world's largest listed palm oil producer is mulling a cash call to trim its gearing ratio to 40% from about 60% currently, said its president and group chief executive officer Tan Sri Mohd Bakke Salleh.

Malayan Banking Bhd (Maybank) posted an 18% rise in net profit in its third quarter ended Sept 30, 2015 (3QFY15) to RM1.9 billion from RM1.61 billion, as net interest and Islamic banking income grew.

Higher net insurance premium also supported profit growth, despite significantly higher bad loan allowance, Maybank told Bursa today.

Net profit for the nine-month period (9MFY15) climbed to RM5.18 billion from RM4.79 billion a year earlier, while net interest income rose 12.3% to RM8.2 billion from RM7.3 billion in 9MFY14.

During 3QFY15, Maybank said net interest income rose to RM2.9 billion, while Islamic banking income climbed to RM1.08 billion.

"This (net interest and Islamic banking income growth) was largely due to the growth in the group's gross loans, advances and financing," Maybank said.

Maybank said bad loan allowance rose to RM667.94 million, from RM70.54 million due to higher net collective allowance of RM341.1 million, and lower bad debts and financing recovered of RM196.4 million.

Telekom Malaysia Bhd's (TM) net profit for the third quarter ended Sept 30, 2015 (3QFY15) fell 12% to RM166.87 million from RM188.85 million a year earlier, despite posting a higher revenue of RM2.92 billion versus RM2.64 billion in 3QFY14.

For the nine months ended Sept 30 (9MFY15), TM's net profit dipped to RM507.85 million from RM613.51 million in 9MFY14, on revenue of RM8.54 billion versus RM8.08 billion a year earlier.

TM told the stock exchange today that the lower net income was due to forex losses from borrowings and consolidation of operational losses from Packet One Networks (Malaysia) Sdn Bhd.

YTL Corp Bhd's net profit dipped 6.3% to RM202.6 million in its first quarter ended Sept 30, 2015 (1QFY16), compared with RM216.1 million in 1QFY15, as revenue came in lower and its hotels segment slipped into a pre-tax loss.

It also recorded lower contributions from its IT and e-commerce related business, as well as its cement manufacturing and trading, property investment and development, and utilities segments, it told Bursa today.

1QFY15 revenue dropped 0.8% to RM4.44 billion from RM4.48 billion last year.

Segmentally, its IT and e-commerce related business' profit before tax (PBT) was almost halved y-o-y to RM565,000, as its cement manufacturing and trading segment's PBT fell 7.7%, while its property investment and development segment's PBT shrank 37.1%.

Its utilities segment's PBT slipped 9.6% y-o-y, while its hotels segment slipped into the red with a pre-tax loss of RM11.97 million, compared with a net profit of RM5.68 million.

Pharmaniaga Bhd saw its net profit jump 33.5% in its third quarter ended Sept 30, 2015 (3QFY15) to RM19.97 million or 7.71 sen per share from RM14.96 million or 5.78 sen per share a year ago, due to ongoing cost optimisation measures, which helped to reduce operating expenses.

Revenue for 3QFY15 rose 4.4% to RM524.41 million from RM502.09 million in the previous year, due to improved contributions from the group's Indonesian operations.

It declared a third interim dividend of 9 sen, payable on Dec 21, bringing cumulative dividend for the year to 23 sen.

For the cumulative nine-month period (9MFY15), Pharmaniaga's net profit rose 19% to RM67.98 million or 26.26 sen per share, from RM57.15 million or 22.07 sen per share in 9MFY14, due to favourable profit margins from the manufacturing division as a result of continuous cost optimisation initiatives, which led to reduced manufacturing costs.

Revenue for 9MFY15 inched up 0.67% to RM1.51 billion from RM1.5 billion in 9MFY14.

Iris Corp Bhd has yesterday bagged a contract worth US$22 million (RM92.65 million) from the Government of Solomon Islands to establish the information and management system of electronic passport and border control.

Iris told Bursa that it had entered into a build-own-transfer (BOT) agreement for a term of 20 years commencing from the date of the contract with the Government of Solomon Islands for the establishment of the electronic passport system.

Under the BOT project financing model, Iris will build and own the information systems, software and hardware under the agreement during the term only. After the expiration of the term, ownership of the same will be transferred to the client (Government of Solomon Islands).

Conglomerate group Genting Bhd's net profit for the third quarter ended Sept 30, 2015 (3QFY15) climbed 2.38% to RM361.09 million or 9.71 sen per share from RM352.7 million or 9.49 sen per share in the previous year.

The better earnings was underpinned by higher adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), contributed mainly by higher net forex gains.

A reversal of RM186.4 million in respect of previously recognised impairment losses, mainly in respect of the UK casino licences also contributed to the better net income although this was partially offset by higher net fair value loss on derivative financial instruments, impairment losses and deferred expenses written off in respect of the Bimini operations.

3QFY15's revenue was 3.56% higher at RM4.65 billion from RM4.49 billion underpinned by the better performance from its power segment.

For the cumulative nine months (9MFY15), Genting recorded a 14.17% fall in net profit to RM1.05 billion or 28.22 sen per share from RM1.22 billion or 32.91 sen per share in 9MFY14.

Revenue for the period also fell 3.02% to RM13.18 billion from RM13.59 billion a year ago.

Meanwhile, its 49.06%-owned subsidiary Genting Malaysia Bhd's (GenM) net profit jumped 22.6% in 3QFY15 to RM326.29 million from RM266.12 million the previous year even though revenue fell 9% to RM2.03 billion from RM2.23 billion previously.

The better net income was due to the absence of impairment losses during the quarter under review, lower pre-operating expenses offset by deferred expenses written off and higher depreciation and amortisation charges.

The lower revenue was attributed to the 60% drop in turnover generated from its UK business to RM268.7 million in 3QFY15 from RM674.7 million in the previous year.

For the nine-month period (9MFY15), GenM's net profit gained 4.6% to RM919.32 million or 16.22 sen per share from RM878.84 million or 15.5 sen per share a year earlier, while revenue slipped 1.13% to RM6.1 billion from RM6.17 billion in 9MFY14.

Both of the groups did not declare dividend for the quarter under review.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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