KUALA LUMPUR (Nov 29): Based on corporate announcements and news flow today, companies that may be in focus on Monday (Dec 2) may include: IHH Healthcare Bhd, AMMB Holdings Bhd, QL Resources Bhd, Duopharma Biotech Bhd, Hengyuan Refining Co Bhd, Boustead Holdings Bhd, Bintulu Port Holdings Bhd, BIMB Holdings Bhd, Menang Corp (M) Bhd, Mudajaya Group Bhd, Eversendai Corp Bhd, Lion Industries Bhd, Chemical Company of Malaysia Bhd, Sime Darby Bhd, LFE Corp Bhd, Sime Darby Plantation Bhd and Straits Inter Logistics Bhd.
IHH Healthcare Bhd reported a net profit of RM236.34 million for the third quarter ended Sept 30, 2019 versus a net loss of RM104.07 million a year earlier, driven by sustained organic revenue growth at existing operations. Revenue jumped 74.35% to RM3.79 billion from RM2.84 billion.
For the nine-month period, net profit jumped four times to RM510.85 million from RM118.27 million as revenue grew 32.6% to RM11.08 billion from RM8.36 billion.
AMMB Holdings Bhd's (AmBank) net profit for the second quarter ended Sept 30, 2019 fell 8.2% to RM319.57 million from RM348.15 million last year, due to lower net income and higher other operating expenses. Revenue increased to RM2.35 billion from RM2.31 billion.
AmBank declared an interim dividend of 6 sen per share, to be paid on Dec 27.
For the cumulative six months, AmBank's net profit rose to RM711.03 million from RM695.75 million last year as revenue was higher at RM4.74 billion compared with RM4.49 billion. The bank has also revised four of its key performance indicators for the financial year ending March 31, 2020. It has revised downwards its guidance for loan growth to 4%-5% and return-on-equity to 8%-8.5%, but made a positive revision for its cost-to-income ratio to below 50% and dividend payout at 50%.
QL Resources Bhd’s net profit rose 15.1% to RM69.68 million in 2QFY20 from RM60.52 million last year, mainly due to higher sales from its marine product manufacturing segment. Revenue rose 16.6% to RM1.07 billion from RM920.26 million.
For the six-month period, net profit was up 15.2% to RM120.23 million from RM104.38 million last year as revenue grew 19% to RM2.07 billion from RM1.74 billion.
Duopharma Biotech Bhd has reported a 21% jump in net profit to RM14.86 million for 3QFY19 from RM12.29 million last year, thanks to increased demand for the group's pharmaceutical products from the private and public health sectors. Revenue rose 13.5% to RM142.86 million from RM125.84 million.
For the nine months period, net profit rose 30% to RM43.24 million from RM33.27 million last year as revenue grew 14.5% to RM438.71 million from RM383.09 million.
Hengyuan Refining Company Bhd’s net loss narrowed in 3QFY19 to RM11.43 million from RM122.49 million last year on higher revenue. Revenue jumped 56% to RM3.23 billion from RM2.07 billion last year.
For the nine-month period, its net profit of RM13.42 million was down 57% from RM30.91 million last year while revenue increased 9% to RM9.49 billion from RM8.73 billion.
Diversified group Boustead Holdings Bhd recorded a net loss of RM155 million for 3QFY19 versus a net profit of RM7.3 million last year, no thanks to impairments in the heavy industries and property divisions, totalling RM161.3 million, as well as weaker results in other divisions. Revenue, however, increased 5.08% to RM2.73 billion from RM2.6 billion.
For the nine-month period, its net loss widened to RM153.1 million from RM14.2 million last year, despite a 6.16% rise in revenue to RM7.79 billion from RM7.33 billion.
Bintulu Port Holdings Bhd's net profit for 3QFY19 jumped 33% to RM24.69 million from RM18.54 million last year, mainly from handling of liquefied natural gas (LNG) cargoes and vessel calls. Revenue rose to RM173.96 million from RM161.97 million. Bintulu Port declared an interim dividend of 4 sen per share, payable on Dec 27.
For the nine-month period, Bintulu Port's net profit surged 45% to RM85.86 million from RM59.18 million last year, as revenue increased to RM531.97 million from RM488.08 million.
BIMB Holdings Bhd has posted a rise in net profit to RM208.4 million in 3QFY19 from RM198.6 million last year. Revenue increased to RM1.19 billion from RM1.09 billion.
For the nine-month period, BIMB’s net profit rose to RM606.1 million from RM520.7 million last year while revenue was higher at RM3.53 billion versus RM3.08 billion previously.
Menang Corp (M) Bhd posted a net loss of RM503,000 in the first quarter ended Sept 30, 2019 versus a net profit of RM967,000 last year, no thanks to expenses stemming from land clearing, earthworks and provisions for the costs of proposed corporate exercises. Quarterly revenue declined 21.43% to RM22,000 from RM28,000 a year ago.
After logging 13 consecutive quarters of losses, Mudajaya Group Bhd has returned to the black with a net profit of RM812,000 in 3QFY19, thanks to the ongoing MRT2 project and the recognition of remaining work done for its Pengerang projects in Johor.
Revenue, however, contracted 25.6% to RM110.18 million from RM148.18 million.
For the nine-month period, the group’s net loss narrowed to RM73.04 million from RM160.99 million last year, while revenue more than halved to RM296.32 million from RM636.93 million.
Eversendai Corp Bhd's net profit for 3QFY19 fell 88.8% to RM1.47 million from RM13.14 million last year dragged by higher operating and administrative expenses. Revenue contracted 4.3% to RM413.46 million from RM432.21 million.
For the nine-month period, net profit more than halved to RM20.98 million from RM50.5 million while revenue slipped 1.7% to RM1.19 billion from RM1.21 billion.
Lion Industries Bhd reported its fourth consecutive loss-making quarter in 1QFY20, with a net loss of RM110.62 million versus a net profit of RM19 million last year, due to lower margin of its steel division, and higher loss from associated companies and joint ventures. Revenue fell 29% to RM656.4 million from RM926.31 million.
Chemical Company of Malaysia Bhd (CCM) has awarded Sime Darby Bhd a RM27.9 million contract to construct a co-generation plant in Pasir Gudang, Johor.
LFE Corp Bhd has secured three new projects in the financial year ending Dec 31, 2019 (FY19), which contributed RM66.6 million to the group's order book. The new projects secured are from Johor and Terengganu.
LFE Corp said the new projects are part of its efforts to address the audit issues raised by its external auditor Morison Anuarul Azizan Chew. The auditor has raised material uncertainty relating to the going concern for the financial period ended Dec 31, 2018 on May 2.
Sime Darby Plantation Bhd has reported a net profit of RM32 million for its third quarter ended Sept 30, 2019 on revenue of RM2.82 billion. There are no comparative figures due to the change in the company's financial year end from June 30 to Dec 31.
For the cumulative three quarters ended Sept 30, net earnings from continuing operations stood at RM167 million, while revenue came in at RM8.69 billion.
Straits Inter Logistics Bhd has appointed Datuk Seri Tengku Baharuddin Sultan Mahmud as non-independent and non-executive chairman of the group effective Dec 1, replacing Tan Sri Mohd Bakri Mohd Zinin, 65, who remains as non-executive director.