KUALA LUMPUR (Dec 10): Based on corporate announcements and newsflow today, companies in focus tomorrow could include: Malaysia Airports Holdings Bhd (MAHB), Bermaz Auto Bhd, Magni-Tech Industries Bhd, AMMB Holdings Bhd, LFE Corp Bhd and TSR Capital Bhd.
Passengers who passed through Malaysia Airports Holdings Bhd’s (MAHB’s) network of airports including the group’s Turkey Istanbul Sabiha Gokcen International Airport (ISG), grew 6% in November to 11.5 million from 10.84 million last year.
MAHB’s Malaysian airports alone saw 4.7% growth in passenger movements to 8.64 million in November from 8.25 million in the same month last year, with KLIA terminals passenger movements growing 3.6% to 5.14 million from 4.96 million previously.
ISG, meanwhile, saw passenger traffic rising 10.2% to 2.86 million from 2.6 million, according to its stock exchange filing.
Bermaz Auto Bhd’s net profit fell 72.42% in the second quarter ended Oct 31, 2019 (2QFY19) to RM20.39 million from RM73.92 million, largely due to lower contribution from domestic operations, as well as from its associate company Mazda Malaysia Sdn Bhd.
Quarterly earnings per share dropped to 1.76 sen from 6.36 sen. The group has recommended 2.75 sen in dividend per share for the quarter, bringing the total dividend in the first half of FY20 to 6 sen from 6.25 sen previously.
Bermaz suffered from lower local sales volume, lower margin from absorbing higher costs for the facelift Mazda CX-5 model on subdued market sentiment, and a stronger yen — though these were partly offset by higher revenue from Philippines.
Magni-Tech Industries Bhd’s net profit jumped 29% to RM29.87 million for the second quarter ended Oct 31, 2019 (2QFY19) from RM23.21 million a year earlier, amid higher revenue and lower operating costs.
The group also recorded a higher foreign exchange gain of RM2.63 million during the quarter, versus RM2 million previously.
Revenue rose 18% to RM301.33 million from RM255.76 in the year-ago second quarter, mainly contributed by sales from the group’s garment segment which saw revenue grow 22% amid higher sales orders.
AMMB Holdings Bhd and its subsidiary AmBank Islamic Bhd have appointed solicitors to fight the suit filed by former prime minister Datuk Seri Najib Razak, in relation to the handling of his current accounts with AmBank Islamic.
The bank confirmed it has been served with a writ and statement of claim by Najib on Monday, and that Najib is seeking damages in relation to the conduct of his accounts.
“Both AMMB and AmBank Islamic have appointed solicitors to defend the suit and have been advised by solicitors that the allegations are not sustainable and AmBank Islamic and the company have a strong defence.
“AMMB and AmBank Islamic will vigorously oppose the action,” the banking group said.
LFE Corp Bhd has won a RM19.1 million contract to undertake structural works for the carpark and podium of a service apartment in Damansara.
In a filing with Bursa Malaysia, LFE said its wholly-owned subsidiary LFE Engineering Sdn Bhd has accepted the letter of award from Shiangly Athens Park Sdn Bhd.
LFE said the nine-month contract is estimated to be completed by June 15, 2020.
Shareholders of TSR Capital Bhd gave the nod for the related-party disposal of 70% in its 17-storey flagship Menara TSR to a company linked to its deputy executive chairman Tan Sri Lim Kang Yew.
At TSR Capital's extraordinary general meeting, all shareholders approved the 70% stake sale in U-Ni Magna Sdn Bhd for RM18.59 million cash to Ivory Code Sdn Bhd, in which Lim owns 25%.
U-Ni Magna is the owner of 14 floors within the four-year-old Menara TSR, located in Mutiara Damansara. The building was appraised by valuation firm JLW on Aug 16.