KUALA LUMPUR (Nov 14): Based on corporate announcements and news flow today, stocks in focus on Thursday (Nov 15) may include: Gas Malaysia Bhd, Malaysia Smelting Corp Bhd (MSC), GHL Systems Bhd, Advancecon Holdings Bhd, S P Setia Bhd, IGB Bhd, Batu Kawan Bhd, Kuala Lumpur Kepong Bhd (KLK), Tatt Giap Group Bhd, Star Media Group Bhd, JAKS Resources Bhd and Amway (M) Holdings Bhd.

Gas Malaysia Bhd’s net profit rose 22.1% to RM41.03 million for the third quarter ended Sept 30, 2018 (3QFY18) from RM33.61 million a year ago, on higher volume of natural gas sold and higher income arising from asset contribution from customers.

Quarterly revenue grew 11.8% to RM1.56 billion from RM1.39 billion previously.

Malaysia Smelting Corp Bhd (MSC)’s net profit jumped 52.5% to RM11.66 million in 3QFY18 from RM7.65 million a year ago on stronger earnings from both its tin smelting and tin mining divisions.

Quarterly revenue, however, fell 23.2% to RM309.43 million from RM403.17 million in 3QFY17, due to slower sales of refined tin and less favourable tin prices in 3QFY18.

MSC said its tin smelting business achieved a turnaround in 3QFY18 boosted by certain one-off income, such as reversal of impairment losses, gain on disposal of joint venture, lead sales and higher other income.

Payment service provider GHL Systems Bhd has inked an agreement with Visa Worldwide Pte Ltd that will allow the former to offer electronic payment services and VISA card acceptance in Malaysia.

The group expects the agreement, signed via its wholly-owned unit, GHL CardPay Sdn Bhd, will contribute positively to its earnings for the financial year ending Dec 31, 2019 and beyond.

Advancecon Holdings Bhd has bagged an RM43.37 million contract from Sime Darby Serenia Development Sdn Bhd to undertake earthworks and appurtenance works for Phase 2 of the Serenia City township development in Sepang, Selangor.

The contract, accepted by wholly-owned subsidiary Advancecon Infra Sdn Bhd, is for 15 months from Nov 27, 2018 till Feb 26, 2020, and is expected to contribute positively towards the group’s future earnings.

S P Setia Bhd’s net profit fell 81.32% in its 3QFY18 to RM65.19 million from RM348.89 million a year ago due to a lack of profit contribution from the completion of Phase 1 of the Battersea Power Station which was recorded in FY17’s corresponding quarter.

Quarterly revenue declined 6.13% to RM993 million from RM1.06 billion a year ago.

IGB Bhd's third quarter net profit surged 90.91% to RM68.29 million from RM35.77 million a year ago, due to higher contribution from the group's property development and investments in both retail and commercial properties.

Revenue for the period climbed 23.54% to RM353.22 million from RM285.92 million a year earlier, on higher sales in the property development, retail property investment and investment divisions, it added.

Batu Kawan Bhd and Kuala Lumpur Kepong Bhd (KLK) saw both their net profits for the fourth quarter ended Sept 30, 2018 (4QFY18) slump on the back of weaker crude palm oil (CPO) and palm kernel prices.

Batu Kawan’s earnings slid 50.9% to RM71.24 million from RM145.01 million a year ago, while revenue was down 18.5% to RM4.32 billion from RM5.3 billion.

KLK recorded a decline of 58.8% to RM101.5 million in 4QFY18 from RM242.12 million a year earlier. Quarterly revenue declined 18.84% to RM4.19 billion from RM5.16 billion a year ago.

Both firms expect earnings for its coming financial year to be affected by the current depressed CPO prices.

Tatt Giap Group Bhd has appointed its two new substantial shareholders, Khoo Song Heng and Woon Kok Kee, as its executive directors.

Khoo and Woon, who are both founders of and directors in Dynaciate Engineering Sdn Bhd were named to the board as executive directors effective today. Khoo is the managing director of Dynaciate Engineering while Wong is its executive director.

Separately, Tatt Giap appointed Lim Peng Tong as an independent non-executive director while former chairman Datuk Siah Kok Poay retired as a non-independent and non-executive director.

The Court of Appeal has dismissed Jaks Resources Bhd’s appeal to restrain a payout of a RM50 million bank guarantee to Star Media Group Bhd, and upheld the High Court’s judgement on July 12 this year that the payment must be made within five working days.

Jaks said it has instructed its solicitors to file urgent applications for leave to appeal to the Federal Court against the decision of the Court of Appeal and for injunctive relief pending hearing of the leave application.

The bank guarantee was in relation to an agreement between Star Media and JAKS's subsidiary Jaks Island Circle Sdn Bhd (JIC) for the latter to develop a 15-storey tower within the Pacific Star development in Section 13, Petaling Jaya.

Higher sales, favourable foreign exchange impact on cost of sales, and lower operating expenses boosted the net profit of Amway (M) Holdings Bhd by 14.7% to RM17.15 million in 3QFY18 from RM14.95 million a year ago.

Revenue grew 6.8% to RM260.21 million from RM243.65 million in 3QFY17.

The group declared an interim dividend of five sen, payable on Dec 12.