KUALA LUMPUR (Nov 26): Based on corporate announcements and news flow on Friday, companies in focus on Monday (Nov 29) may include: Dagang NeXchange Bhd (DNeX), Malakoff Corp Bhd, AMMB Holdings Bhd (AmBank), Axiata Group Bhd, Alliance Bank Malaysia Bhd, Press Metal Aluminium Holdings Bhd, UOA Development Bhd, Brem Holding Bhd, TIME dotCom Bhd, Hengyuan Refining Company Bhd (Hengyuan), Computer Forms (Malaysia) Bhd, Careplus Group Bhd, Petronas Dagangan Bhd (PetDag), Rubberex Corp (M) Bhd, Inari Amertron Bhd, Negri Sembilan Oil Palms Bhd (NSOP), Padini Holdings Bhd, Sarawak Oil Palms Bhd’s (SOPB) and IGB Bhd.
Dagang NeXchange Bhd's net profit for the first quarter ended Sept 30, 2021 (1QFY22) stood at RM293.56 million, while revenue came in at RM270.87 million. There were no comparative figures for the first quarter due to a change in its financial year end to June 30 from Dec 31. Quarterly revenue increased by RM224.97 million for 1QFY22 compared with 4QFY21 due to the consolidation of Ping Petroleum Ltd and SilTerra Malaysia Sdn Bhd, which contributed RM67.27 million (24%) and RM148.77 million (54%), respectively.
Malakoff Corp Bhd’s net profit for the third quarter ended Sept 30, 2021 (3QFY21) grew 32.2% to RM67.16 million on a yearly basis from RM50.8 million in 3QFY20 on higher contributions from TBP and Tanjung Bin Energy Sdn Bhd's coal plants in Johor on the back of higher applicable coal price, higher contributions from Alam Flora Sdn Bhd and foreign investments in associates coupled with lower operation and maintenance costs. Quarterly revenue in 3QFY21 was up by 6.8% from RM1.48 billion in the same quarter last year.
AMMB Holdings Bhd's net profit for the second quarter ended Sept 30, 2021 rose 35.28% to RM321.04 million from RM237.32 million a year ago, due to lower impairment charges. Quarterly revenue slipped 2.94% to RM1.12 billion from RM1.15 billion, according to its filing with Bursa Malaysia. The group did not declare any dividend for the latest quarter.
Axiata Group Bhd saw its net profit for the third quarter ended Sept 30, 2021 (3QFY21) grow 25.85% quarter-on-quarter to RM349.56 million compared with RM277.76 million in the immediate preceding quarter on higher revenue as well as improved earnings before interest, taxes, depreciation and amortisation (EBITDA) due to higher contributions across all Opcos. Earnings per share in 3QFY21 increased to 3.8 sen from three sen in 2QFY21, While revenue for the period also increased by 2.39% to RM6.54 billion against RM6.39 billion on the back of contributions from PT XL Axiata Tbk, Dialog Axiata PLC, Robi Axiata Ltd and Axiata Digital Services Sdn Bhd.
Alliance Bank Malaysia Bhd achieved a 66% hike in net profit for the second quarter ended Sept 30, 2021 (2QFY22) to RM172.74 million against RM103.94 million in the same quarter last year due mainly to higher interest income and lower credit cost. Earnings per share expanded to 11.16 sen from 6.71 sen the year before, but quarterly revenues declined by 4.52% to RM452.98 million from RM474.45 million a year ago. A first interim single-tier dividend of 8.3 sen per share to be paid on Dec 30, 2021 was declared for the quarter.
Press Metal Aluminium Holdings Bhd’s net profit for the third quarter ended Sept 30, 2021 more than doubled to RM283.33 million from RM121.98 million a year ago, on the back of a 55.03% increase in revenue to RM2.89 billion from RM1.86 billion due to higher aluminium price and production output from its new Phase 3 Samalaju smelter which achieved full commissioning in mid-October. The group has proposed a third interim dividend of one sen per share, which will be paid on Dec 3.
UOA Development Bhd said its third quarter net profit dropped 84.13% to RM33.15 million from RM208.93 million a year earlier as revenue fell on lower sales from existing property projects and after the company registered a-year-earlier higher progressive income recognition from real estate development besides a fair value adjustment of RM114 million on investment properties. Quarterly revenue dropped to RM54.58 million in the third quarter ended Sept 30, 2021 from RM134.34 million. UOA Development did not declare any dividend for the quarter.
Brem Holding Bhd's majority shareholders, Brem Properties Sdn Bhd and Tan Sri Khoo Chai Kaa, have proposed to privatise the company via a share capital reduction (SCR) which entails a selective capital reduction and a corresponding capital repayment of RM1.20 per share — a 51.9% or 41 sen premium over Brem Holding’s last traded price of 79 sen on Nov 25 — for a total capital repayment of RM98.67 million. They added that they do not intend to maintain the listing status of Brem Holding.
TIME dotCom Bhd saw its net profit jump 52.46% to RM100.54 million in the third quarter ended Sept 30, 2021 from RM65.95 million in the previous year’s corresponding quarter, supported by net gain on foreign exchange of RM5.8 million. Earnings per share rose to 5.53 sen from 3.64 sen while quarterly revenue rose 12.03% to RM346.77 million from RM309.55 million, underpinned by higher recurring data centre revenue and data revenue. It declared a special dividend of 8.22 sen per share to be paid on Dec 22.
Hengyuan Refining Company Bhd reported a net loss of RM54.04 million for its third quarter ended Sept 30, 2021, from a net profit of RM154.91 million a year ago, mainly due to foreign exchange losses caused by the strengthening of the US dollar and under accrual of tax in the prior year. It posted a loss per share of 18.01 sen compared to earnings per share last year of 51.64 sen while quarterly revenue doubled to RM3.25 billion from RM1.59 billion for the same period last year.
Computer Forms (Malaysia) Bhd’s net profit jumped to RM61.95 million in the second quarter ended Sept 30, 2021 from a loss of RM10,000 in the corresponding quarter a year ago primarily due to the gain from disposal of land amounting to RM63.1 million. Its revenue was recorded at RM6.66 million from RM7.18 million previously, due to stronger sales from the commercial printing segment.
Careplus Group Bhd's net profit declined 80.46% to RM8.37 million in the third quarter ended Sept 30, 2021, from RM42.86 million a year earlier, due to a lower utilisation rate of its production capacity following Movement Control Order restrictions. Earnings per share fell to 1.54 sen from eight sen while quarterly revenue slipped 17.82% to RM100.84 million from RM122.71 million amid lower average selling price (ASP) due to increased industry competition from existing glove manufacturers and newcomers.
KPJ Healthcare Bhd, whose net profit dropped 62.8% in the third quarter ended Sept 30, 2021 (3QFY21) to RM12.64 million from RM33.97 million a year ago, warns that it will continue operating in a challenging environment for the current quarter ending Dec 31. Earnings per share for 3QFY21 was lower at 0.29 sen compared with 0.79 sen previously while revenue grew 10.34% to RM698.96 million from RM633.44 million a year earlier, as patient visits increased to 782,732 from 736,255 previously. A 0.3 sen single-tier interim dividend per share for the financial year ending Dec 31, 2021 to be paid on Dec 28 was declared.
SKP Resources Bhd's net profit fell 9% to RM40.12 million for its second quarter ended Sept 30, 2021, from RM44.07 million a year earlier, as its operational capacity was affected by lockdown restrictions. Earnings per share declined to 2.57 sen from 2.82 sen last year while quarterly revenue dropped 23.8% to RM553.74 million from RM726.31 million a year ago.
Petronas Dagangan Bhd’s net profit fell 43.9% to RM119.31 million in the third quarter ended Sept 30, 2021 from RM212.66 million a year earlier, due partly to lower sales volume. Earnings per share fell to 12 sen from 21.40 sen while quarterly revenues rose 7.66% to RM5.2 billion from RM4.83 billion in the same quarter last year, on higher revenue contribution from its commercial segments. PetDag has declared an interim dividend of 20 sen per share, to be paid on Dec 24.
Rubberex Corp (M) Bhd registered a net profit of RM25.22 million for its third quarter ended Sept 30, 2021, 36.2% lower than last year’s RM39.52 million, due to lower average selling price (ASP), lower production efficiencies due to slower order uptakes by customers and labour restrictions due to Covid-19. Earnings per share fell to 2.98 sen from 4.71 sen while quarterly revenue also dipped by 12.9% at RM94.9 million, from RM109.03 million last year. It also said that it is taking action to rectify its financial ratios after being dropped from the Securities Commission Malaysia’s updated list of Shariah-compliant securities on Friday due to its non-compliance with cash and debt ratios at below 33%.
Inari Amertron Bhd no longer names the Employees Provident Fund (EPF) as one of its substantial shareholder, according to a filing today. EPF’s stake in the group dropped below 5% after it disposed of a total of 1.4 million shares on Nov 24, 1.66 million shares on Nov 23 and buying two million shares on Nov 22.
Negri Sembilan Oil Palms Bhd is paying out RM2.81 million or 4 sen per share in special dividend to its shareholders — on top of a second interim dividend of 3 sen per share amounting to RM2.11 million, after its net profit surged 425% year-on-year to RM7.35 million from RM1.4 million in the third quarter of 2021. Both dividends are payable on Dec 31, bringing the total dividend paid out this year to 14 sen per share.
Padini Holdings Bhd slipped into the red with a net loss of RM16.86 million for its first quarter ended Sept 30, 2021, compared to a net profit of RM20.72 million a year earlier, as a majority of its outlets were closed during the Full Movement Control Order (FMCO) between June 1 and Aug 18. It also reported a loss per share of 2.56 sen compared to earnings per share of 3.15 sen in the same quarter last year while quarterly revenue dropped sharply to RM81.38 million from RM310.72 million. Despite its lacklustre performance, the fashion retailer declared a first interim dividend of 2.5 sen per share, to be paid on Dec 31 with an ex-date of Dec 14.
IGB Bhd posted its largest quarterly net loss of RM58.68 million in the third quarter ended Sept 30, 2021 (3QFY21) from a net profit of RM16.99 million last year, as the property group booked in a one-off tax expense of RM56.2 million net of deferred tax in relation to the disposal of investment properties to IGB Commercial REIT, marking a fourth consecutive quarterly loss. However, the group noted that its financial performance for the fourth quarter ending Dec 31, 2021 (4QFY21) will be better when compared to the first three quarters, underpinned by a one-off gain of RM190 million, arising from the disposal of its equity interest in the UK based firm, Black Pearl Ltd for £235 million or RM1.27 billion in October. Despite the loss-making quarter, IGB declared an interim dividend of 10 sen per share as well as dividend-in-specie, to be distributed via 10.36 treasury shares for every 1,000 existing shares held.
Sarawak Oil Palms Bhd’s net profit for the third quarter ended Sept 30, 2021 soared 70% to RM125.48 million against RM73.83 million in the same quarter a year ago while revenue for the period jumped 64% to RM1.3 billion compared with RM794.88 million previously due to higher average prices of palm oil products.