Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 22): Based on corporate announcements and news flow today, stocks in focus for Friday (Nov 23) may include: AMMB Holdings Bhd, Serba Dinamik Holdings Bhd, Kenanga Investment Bank Bhd, Malaysian Resources Corp Bhd, MBM Resources Bhd, Boustead Plantations Bhd, HeveaBoard Bhd, Allianz Malaysia Bhd and Press Metal Aluminium Holdings Bhd.

AMMB Holdings Bhd reported today a 5% rise in second quarter net profit to RM348.15 million from RM331.47 million a year earlier, on higher net interest income and Islamic banking income.

AMMB said group revenue rose to RM2.31 billion in the second quarter ended Sept 30, 2018 (2QFY19) from RM2.13 billion.

For the cumulative six months ended Sept 30, 2018 (1HFY19), AMMB said net profit climbed to RM695.75 million from RM659.74 million a year earlier. Revenue was higher at RM4.49 billion versus RM4.21 billion in the previous year.

Serba Dinamik Holdings Bhd, which already owns 15% of UK Aim Market-listed Green & Smart Holdings Plc (GSH), has proposed to purchase another 10% or 34.54 million shares of the company from K2M Ventures Sdn Bhd for RM13 million or GBP2.41 million.

Serba Dinamik said the purchase will be satisfied entirely in cash via internally-generated funds.

Post-completion of the proposed acquisition, Serba Dinamik will hold a 25% indirect stake in GSH.

Kenanga Investment Bank Bhd's (Kenanga IB) net profit rose 6.9% to RM5.79 million in the third quarter ended Sept 30, 2018 (3QFY18) from RM5.42 million a year ago, on bad debt recovery from a court case settlement, higher net interest income and management fees income generated, coupled with lower overhead expenses and share of losses from associates.

These were partially negated by lower trading and investment income and lower net brokerage fees and higher share of loss from joint venture. Quarterly revenue climbed 3.1% to RM177.3 million from RM171.94 million in 3QFY17.

For the cumulative nine months (9MFY18), the bank's net profit doubled to RM24.35 million from RM11.67 million a year ago, while revenue grew 2.2% to RM526.75 million from RM515.42 million in 9MFY17.

Malaysian Resources Corp Bhd’s (MRCB) earnings were down a third in its third quarter ended Sept 30, 2018 (3QFY18) due to the absence of two major revenue contributors, namely the KL Sports City refurbishment project in Bukit Jalil and toll collection revenue from the Eastern Dispersal Link.

The group posted a 35% decline in net profit for (3QFY18) to RM19.79 million from RM30.58 million a year ago as revenue almost halved to RM663.75 million compared with RM1.13 billion recorded in the previous year’s corresponding quarter.

For the nine months ended Sept 30, 2019, MRCB posted an 18.2% increase in net profit to RM74.77 million, mainly due to significantly higher margins in its engineering, construction and environment (ECE) division.

This was despite a nearly 37% drop in the group’s total revenue over the period to RM1.5 billion from RM2.37 billion in the previous year.

Thanks to the GST tax holiday, MBM Resources Bhd posted a more-than five-fold jump in net profit to RM38.1 million for its third quarter ended Sept 30, 2018 (3QFY18), and indicated earnings could have been even better if not for a supply shortage.

However, revenue was only marginally higher at RM472.4 million, from RM466.8 million a year ago.

Owing to the surge in 3Q sales, its cumulative nine-month net profit (9MFY18) more than doubled to RM105.46 million from RM42.91 million in the previous corresponding period. Revenue rose to RM1.42 billion from RM1.28 billion.

Boustead Plantations Bhd slipped into the red for the third quarter of its financial period ended Sept 30, 2018 (3QFY18) with a net loss of RM21.9 million or 0.98 sen per share compared to a net profit of RM557.7 million or 24.9 sen per share during the corresponding period a year ago.

The loss was attributed to the decline in palm product prices, lower crop production and increase in expenditure corresponding to a larger area under harvest.

The group’s quarterly revenue fell by 28.5% to RM131.1 million from RM183.4 million recorded in 3QFY17.

For the first nine months of its financial period ended Sept 30 (9MFY18), the group also recorded a net loss of RM38.9 million or 1.74 sen per share compared to a net profit of RM598 million or 26.7 sen per share recorded during the corresponding period a year ago.

HeveaBoard Bhd's net profit dropped 55.8% to RM3.17 million in the third quarter ended Sept 30, 2018 (3QFY18) from RM7.17 million a year ago, on the back of lower contributions across all segments, namely particleboard manufacturing, ready-to-assemble (RTA) manufacturing and fungi cultivation.

Quarterly revenue also fell 13.8% to RM101.71 million from RM118.01 million in 3QFY17.

For the cumulative nine months (9MFY18), the group's net profit plunged 80% to RM9.77 million from RM48.8 million a year ago, while revenue was down 21.6% to RM323.09 million from RM411.99 million in 9MFY17.

Allianz Malaysia Bhd's net profit jumped 47.9% to RM99.88 million in the third quarter ended Sept 30, 2018 (3QFY18) from RM67.53 million a year ago, thanks to contributions from the general insurance and life insurance segments.

Quarterly operating revenue rose 9.5% to RM1.3 billion from RM1.19 billion in 3QFY17, on higher gross earned premiums and investment income.

For the cumulative nine months (9MFY18), the group's net profit increased 37.7% to RM276.98 million from RM201.18 million a year ago, while operating revenue grew 8% to RM3.88 billion from RM3.59 billion in 9MFY17.

Press Metal Aluminium Holdings Bhd’s third quarter net profit rose 5.3% to RM162.5 million or 4.17 sen per share from RM154.4 million or 4.14 sen per share a year earlier aided by proceeds from insurance settlement.

Revenue for the quarter ended Sept 30, 2018 also grew 12.1% to RM2.37 billion from RM2.12 billion previously.

For the nine months ended Sept 30, 2018, Press Metal’s net profit grew 4.6% to RM473.6 million from RM452.6 million in the corresponding period a year ago.

Revenue for the nine-month period rose 15.5% to RM6.94 billion, from RM6 billion previously.

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