Friday 29 Mar 2024
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KUALA LUMPUR (Nov 19): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Friday, Nov 20) could include the following: Media Prima, PUC Founder, Lay Hong, GDex, ViTrox, REDtone, Instacom, Ni Hsin, Paramount, Halex, AMMB, Dialog, Oriented Media, MBM Resources, MRCB and Boustead Plantations.

Media Prima Bhd's net profit came in 5% higher at RM44.16 million for the third quarter ended Sept 30 (3QFY15), against RM42.18 million a year ago mainly on lower operating expenses, and finance costs.

Revenue fell 4% to RM365.37 million from RM379.60 million, its filing to Bursa Malaysia today showed.

The group declared a second interim single-tier dividend of 2 sen per share for FY15, payable on Dec 30.

Net profit for the nine months ended Sept 30 (9MFY15) rose 2% to RM106.99 million, from RM105.02 million, even though revenue declined 5% to RM1.06 billion from RM1.12 billion due to lower advertising expenditure and subdued market sentiment.

PUC (MSC) Founder Bhd's wholly-owned subsidiary Founder Energy Sdn Bhd (FESB) was awarded a RM3.9 million photovoltaic (PV) grid connected system contract that is expected to provide the group an additional income stream and cash flow.

In a Bursa filing, PUC Founder said Gen Master Manufacturing Sdn Bhd awarded FESB the contract to design, develop, procure, supply, install and build a 420kWp (nominal) PV grid connected system in Tungzen Industrial Park in Kampung Kepayang, Perak, to be completed by Dec 31 this year.

In a statement, PUC Founder group managing director Cheong Chia Chieh said its diversification plan into renewable energy industry is taking place as planned.

Poultry producer Lay Hong Bhd's net profit rose 36% to RM8.55 million in its second quarter ended Sept 30, 2015 (2QFY16) from RM6.3 million in the same quarter last year, mainly due to a gain on disposal of a subsidiary, and write back of provisions no longer required.

Revenue, meanwhile, slid a marginal 1.3% to RM164.7 million, from RM166.8 million last year, its filing to Bursa showed.

Net profit for its six-month to Sept 30, 2015 grew 42% to RM11.1 million on the back of RM319.3 million in revenue, which was 1.1% lower than RM323 million a year ago.

Express delivery and logistics services group GD Express Carrier Bhd saw its net profit for its first quarter ended Sept 30, 2015 (1QFY16) jump 26.2% year-on-year (y-o-y) to RM6.3 million from RM4.98 million, due to an increase in business volume due to the e-commerce boom.

Its revenue for 1QFY16 was RM51.5 million, up 17.7% from RM43.7 million.

Its courier segment's profit before tax in 1QFY16 shot up 38.98% y-o-y to RM6.34 million; while revenue rose 18.9% to RM49.7 million from RM41.78 million.

The big jump in its courier segment's profitability also came with an improved pre-tax margin of 12.77% in 1QFY16, compared with 10.92% in 1QFY15.

ViTrox Corp Bhd saw an on-year 38.06% increase in net profit for the third quarter ended Sept 30, 2015 (3QFY15) to RM15.72 million from RM11.39 million due to higher unrealised gain on foreign exchange (forex) on the back of the appreciating US dollar.

Sales for the quarter only rose 1.4% to RM40.06 million, from RM39.51 million a year earlier due to increase in revenue for automated board inspection but this was partially offset by the decrease in revenue for machine vision system and electronics communication system.

ViTrox's 9MFY15 net profit, meanwhile, slid 1.04% y-o-y to RM35 million or 15.03 sen per share, from RM35.37 million or 15.22 sen per share; while revenue fell 11.93% to RM112.23 million from RM127.44 million.

REDtone International Bhd's shareholders have disapproved the proposed 0.2 sen single-tier dividend for the financial year ended May 31, 2015 (FY15) at its annual general meeting (AGM) today, saying it is too small an amount.

Speaking to reporters during the AGM's lunch break, REDtone managing director Datuk Wei Chuan Beng said the total amount of RM1.4 million allocated for dividends will be reinvested to grow the group's businesses.

Instacom Group Bhd, for which CIMB Research initiated coverage yesterday, was issued an unusual market activity (UMA) query by Bursa Malaysia after its shares spiked as much as 20.8% or 5.5 sen to 32 sen earlier today.

In a note yesterday, CIMB Research placed an 'add' rating on Instacom with a target price of 72 sen, saying that Instacom, which will be renamed Vivocom, will morph into a potential giant construction company, with the asset injection of the Neata Group.

According to the report, the newly renamed Vivocom will be the in-house contractor for global Chinese construction giant China Railway Construction Corporation Ltd in Malaysia and South East Asia.

Stainless steel cookware manufacturer Ni Hsin Resources Bhd got back into the black with a net profit of RM1.5 million in its third quarter ended Sept 30 (3QFY15) mainly due to forex gains, compared to a net loss of RM159,000 a year ago.

Revenue rose 17.27% to RM12.02 million from RM10.25 million last year, mainly due to an increase in sales of cookware and clad metal.

The improved results saw the group record a cumulative nine-month (9MFY15) net profit of RM2.07 million, compared to a net loss of RM551,000 in the same period last year, while revenue rose 19.8% to RM36.09 million from RM30.14 million in 9MFY14.

Paramount Corp Bhd's net profit rose 6.1% to RM15.53 million in its third quarter ended Sept 30, 2015 (3QFY15) from RM14.64 million in the same quarter last year, on higher contribution from both its property and education division.

Revenue rose by 22.72% to RM147.7 million from RM120.4 million a year ago, its Bursa filing showed.

Cumulative nine-month (9MFY15) profit grew a marginal 0.8% to RM52.8 million from RM52.4 million in 9MFY14; 9MFY15's revenue, however, rose by 21.5% to RM428 million from RM352.4 million previously.

Segmentally, its property division's revenue grew 27% to RM111.4 million from RM88 million in 3QFY14 due to higher sales and higher progressive billings registered on the Utropolis in Glenmarie, Shah Alam, and Sekitar26 Business in Shah Alam developments.

Revenue for its education division, which comprises primary, secondary and tertiary education, grew 15% to RM36.3 million from RM31.7 million a year ago.

Agrochemicals maker Halex Holdings Bhd will buy and package rice for the Federal Land Development Authority (Felda) under a planned two-year contract with the government entity with an estimated contract value of up to RM184 million involving around 80,000 tonnes of white rice annually.

In a statement to Bursa Malaysia today, Halex said it received the letter of offer from Koperasi Majlis Belia Felda Malaysia Bhd (KMBFM).

The contract is an expansion of Halex's rice trading business following its recent proposed acquisition of a 70% equity interest in SL Aktif Sdn Bhd, which has also received a letter of offer from KMBFM to procure and package rice under the GMN Project (Project Gedung Makanan Negara or Food Bank Project) as announced on Nov 11, 2015, it said.

The contract tenure is effective from 2015 to 2017 and may be extended by one year from 2017 to 2018 subject to negotiation and agreement.

Assuming all 80,000 MT are supplied, Halex stands to gain gross profit of around RM16 million.

AMMB Holdings Bhd's net profit declined 14% to RM382.5 million in the second quarter ended Sept 30 (2QFY15) from RM445.82 million a year earlier as net interest, Islamic banking and insurance income fell.

Revenue was lower at RM2.09 billion, compared to RM2.21 billion in 2QFY14.

For the cumulative six months ended Sept 30, the group's net profit fell 26.53% y-o-y to RM722.03 million from RM982.76 million while revenue decreased 12.3% to RM4.2 billion from RM4.79 billion.

According to AMMB, loans fell to RM86.8 billion as at Sept 30 this year, from RM87.8 billion as at March 31 due to reduction from hire-purchase receivables, term loans, credit card receivables, trust receipts and overdraft.

AMMB said it planned to pay a dividend of five sen a share for the quarter under review. The ex-date falls on Dec 2 this year.

Dialog Group Bhd's executive chairman Tan Sri Dr Ngau Boon Keat said the oil and gas service provider has been flexible in this current state of depressed crude prices.

Apart from breaking down its revenue stream equally to upstream, midstream and downstream businesses, Ngau said Dialog's upstream business has diversified its clientele to include non-oil and gas entities.

ACE-market listed Oriented Media Group Bhd (OMedia) has been issued an UMA query by Bursa Malaysia today, due to the rise in price and volume of the information technology products and services provider's shares recently

In response, OMedia said that aside from its announcement in respect of its rights issue with warrants, it is not aware of any corporate development, rumour or report concerning its business and affairs that may have contributed to the trading activity.

The company had said on Monday (Nov 16) that it will work on growing its e-commerce business in China through its subsidiary Fujian Accsoft Technology Development Co Ltd, and is optimistic about the country's huge e-commerce market.

HLIB Research has downgraded its call on auto parts maker MBM Resources Bhd to "hold", and has also cut its financial year ending Dec 31, 2015 (FY15) earnings forecasts for MBM by 34.8%.

MBM saw its net profit for the third quarter ended Sept 30, 2015 (3QFY15) fall 66.8% to RM8.62 million, from RM26.01 million a year ago, mainly due to lower contributions from its joint venture with Autoliv Hirotako Sdn Bhd and its associates.

Revenue for 3QFY15 dropped 2.8% to RM411.18 million, from RM423.09 million in 3QFY14, due to lower sales of continental makes of higher value, despite better overall volume sales.

In a note today, HLIB said that overall, MBM's group earnings before interest and tax remained low at RM2.3 million for 3QFY15, due to continuous disappointing sales volume for Federal Auto Holdings Bhd and Daihatsu (Malaysia) Sdn Bhd, on weakened consumer and business sentiments since 2014.

The research house went on to say that MBM's automotive components remained loss making despite higher volumes, as Oriental Metal Industries (M) Sdn Bhd Alloy Wheel incurred higher operational costs related to capacity expansion and higher input costs due to the weak ringgit, and is only expected to break even in 2016.

Malaysian Resources Corp Bhd's (MRCB) earnings for its third quarter ended Sept 30 (3QFY15) fell 79.4% to RM5.64 million from RM27.39 million last year on lower revenue, higher finance costs and income tax expense.

Revenue fell 24.8% y-o-y to RM374.06 million from RM497.26 million.

For the cumulative nine-month period (9MFY15), net profit rose 92.3% y-o-y to RM303.6 million from RM157.91 million, driven by the completion and sale of the group's projects.

Revenue rose 27.3% to RM1.31 billion from RM1.03 billion.

Boustead Plantations Bhd recorded an on-year 27.36% rise in net profit to RM23.64 million in its third quarter ended Sept 30, 2015 (3QFY15) from RM18.56 million, primarily due to a gain of RM18.1 million from the disposal of lands.

Revenue rose a marginal 2.26% to RM166.55 million from RM162.87 million.

It will be paying a third interim dividend of 3 sen per share on Dec 23, according to its Bursa filing.

Cumulative nine months' (9MFY15) profit rose 36.93% y-o-y to RM79.59 million from RM58.12 million a year ago, mainly due to gains on disposal of lands of RM57.2 million.

Revenue dropped 17.88% y-o-y to RM451.82 million from RM550.16 million due to the drop in crude palm oil price to RM2,160 per tonne from RM2,477 a year ago.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 
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