KUALA LUMPUR (Oct 23): Based on corporate announcements and news flow today, companies that may be in focus next Monday include Maxis Bhd, Careplus Group Bhd, Unisem (M) Bhd, Mi Technovation Bhd, Tasco Bhd, UEM Sunrise Bhd, AirAsia Group Bhd, AirAsia X Bhd, Malaysia Airports Holdings Bhd, Key Alliance Group Bhd and Vsolar Group Bhd.
Maxis Bhd's net profit for its third quarter of financial year 2020 (3QFY20) ended Sept 30, 2020 rose 1.9% to RM365 million from RM358 million a year earlier, despite posting a lower revenue due to the Movement Control Order (MCO). Quarterly revenue was higher at RM2.21 billion versus RM2.28 billion. For the cumulative nine-month period, its net profit fell to RM1.07 billion from RM1.16 billion a year ago, while revenue dipped to RM6.7 billion from RM6.72 billion.
Maxis declared an interim dividend of four sen per share, payable on Dec 23.
Rubber glove manufacturer Careplus Group Bhd returned to the black in its 3QFY20 with a net profit of RM42.86 million, from a net loss of RM4.94 million a year ago, thanks to higher glove sales, higher utilisation rate and higher selling prices as a result of a surge in demand due to Covid-19.
Careplus' net profit for the quarter also included the 50% sharing of profit earned from the joint venture between Careplus M Sdn Bhd and Ansell Services (Asia) Sdn Bhd. Quarterly revenue jumped 45.49% year-on-year to RM122.71 million from RM84.34 million, on the back of higher selling prices and better capacity output.
For the cumulative nine-month period, the group also returned to the black with a net profit of RM80.21 million, from a net loss of RM6.53 million previously, while revenue rose 35.07% to RM346.3 million, from RM256.39 million.
Unisem (M) Bhd's 3QFY20 net profit from continuing operations rose 98.67% to RM49.45 million from RM24.89 million a year earlier, while revenue improved as the semiconductor manufacturer registered higher sales volume and better average selling prices for its products.
Unisem said the US dollar's appreciation against the ringgit had also led to an improvement in the group's net profit and revenue. Its quarterly revenue from continuing operations climbed to RM357.68 million, from RM289.88 million.
Mi Technovation Bhd posted a 29.24% decline in its 3QFY20 net profit to RM12.32 million, from RM17.42 million a year earlier, despite a 35.88% increase in revenue to RM64.28 million from RM47.3 million.
The fall in net earnings was mainly due to higher fixed costs at its new Batu Kawan factory in Penang, higher commissions payable to external sales agents, as well as foreign exchange losses.
For the cumulative nine-month period, the group's net profit slipped 2.06% to RM40.8 million from RM41.66 million a year ago. Its revenue, however, increased by 31.33% to RM161.44 million, from RM122.92 million.
Tasco Bhd's net profit for its 2QFY21 ended Sept 30, 2020 jumped 160.34% to RM10.7 million, from RM4.11 million a year earlier, as the logistics company experienced a surge in business volume when its customers restarted operations following the transition from MCO to the less-restrictive Conditional Movement Control Order and Recovery Movement Control Order. This was also a result of its strong actions to control and reduce costs.
Quarterly revenue rose to RM229.46 million — a historic high, from RM190.66 million a year earlier, as revenues from its international business solutions and domestic business solutions segments increased.
Cumulative six-month net profit surged to RM13.34 million from RM5.39 million a year earlier, with revenue rising to RM408.02 million from RM371.07 million.
UEM Sunrise Bhd will be disposing of a 20% stake in a firm developing 2,500 acres of land in Kulai, Johor, which will result in Kuala Lumpur Kepong Bhd (KLK) taking over as the firm's majority shareholder, for RM182.6 million.
Following this, KLK's property development arm KLK Land Sdn Bhd's shareholding in Aura Muhibah Sdn Bhd will rise to 60% from 40% at present, while UEM Sunrise's unit UEM Land Bhd will hold 40%.
AirAsia Group Bhd confirmed that it has secured a RM300 million loan from Sabah Development Bank Bhd as part of the group's fundraising exercise and to pivot the airline into the digital business. The airline clarified that the loan is not backed by any government guarantee. The loan was mainly intended to enhance AirAsia's logistics presence in Sabah, creating over 100,000 new jobs in the process.
AirAsia X Bhd (AAX) has acknowledged that it is being sued by Malaysia Airports Holdings Bhd (MAHB) for aeronautical charges totalling RM78.16 million allegedly owed by the airline.
AAX said it received the writ of summons from MAHB's wholly-owned subsidiary Malaysia Airports (Sepang) Sdn Bhd today.
MAHB, meanwhile, has filed an application to intervene in AAX's debt restructuring scheme. The airport operator wants to be excluded from the scheme, which entails a more than 90% haircut imposed on creditors.
Key Alliance Group Bhd's wholly-owned subsidiary Key Alliance Sdn Bhd is teaming up with clinical diagnostics laboratory firm Dunia Wellness Laboratories Sdn Bhd to offer onsite testing services for Covid-19 within Peninsular Malaysia.
Under the arrangement, Key Alliance will provide Care Gene Covid-19 PCR test kits to Dunia Wellness for onsite testing services, for clients provided by the former only.
Vsolar Group Bhd has entered into a memorandum of understanding to instal rooftop solar panels at a plant belonging to AT Systematization Bhd's glove manufacturing subsidiary in Perak, with a 15-year tenure lease.
A formal corporate power purchase agreement is to be signed by both parties at a later stage. The rooftop solar power system will have installed capacity of 1MW.