KUALA LUMPUR (Nov 20): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Nov 21) may include the following: Oriental Interest Bhd, AE Multi Holdings Bhd, Nova MSC Bhd, Pharmaniaga Bhd, MSM Malaysia Holdings Bhd, Amway (Malaysia) Holdings Bhd, Boustead Heavy Industries Corp Bhd, Malaysia Building Society Bhd, Malakoff Corp Bhd, Matrix Concepts Holdings Bhd, Paramount Corp Bhd, KESM Industries Bhd, Thong Guan Industries Bhd and Teo Seng Capital Bhd.
Oriental Interest Bhd is buying a plot of land in Sepang, Selangor, for RM46.78 million for a development to complement its existing project.
AE Multi Holdings Bhd, which last month bagged an RM30.9 million palm oil mill construction job in Sabah, is now planning to raise up to RM9.88 million for the project via a private placement.
Nova MSC Bhd has decided not to proceed with its private placement exercise, which would have seen the e-solutions provider issuing up to 30% of its share capital to investors to raise RM35.17 million.
Pharmaniaga Bhd’s net profit fell 97% in 3QFY19 to RM481,000 from RM15.05 million last year as operating expenses rose. Revenue, however, rose 22% to RM716.85 million from RM587.66 million a year ago, due to stronger demand from the concession and non-concession businesses. For its cumulative nine-month period, net profit declined to RM29.38 million from RM38.03 million last year while revenue rose to RM2.1 billion from RM1.79 billion.
The continued weak average sugar selling prices coupled with massive impairment widened MSM Malaysia Holdings Bhd's net loss to RM185.1 million — the largest ever quarterly loss — in 3QFY19. Revenue fell 5% to RM531.42 million from RM561.68 million. Its cumulative net loss swelled to RM259.49 million for the nine-month period ended Sept 30 versus a net profit of RM46 million a year ago, with revenue down 11% to RM1.49 billion from RM1.68 billion.
Amway (Malaysia) Holdings Bhd’s net profit slipped 38.1% to RM10.61 million in 3QFY19 from RM17.15 million a year ago as revenue fell 9.66% to RM235.07 million from RM260.21 million. The group declared a dividend of five sen per share payable on Dec 20. For the nine-month period, net profit expanded 21.9% to RM39.72 million from RM32.59 million last year while revenue slid 1.38% to RM713.33 million from RM723.31 million.
Boustead Heavy Industries Corp Bhd’s net profit fell 72.41% to RM3.28 million for 3QFY19 from RM11.87 million last year, as revenue was down 40.71% to RM36.41 million from RM61.42 million. For the nine-month period, net profit declined 91.88% to RM1.92 million from RM23.59 million last year while revenue slipped 15.74% to RM126.64 million from RM150.3 million.
Malaysia Building Society Bhd’s (MBSB) net profit expanded 39.5% to RM170.16 million for 3QFY19 from RM121.96 million a year earlier, due to the reversal of overprovision of tax expenses and lower operating costs. Revenue was up 3.5% to RM813.92 million from RM786.41 million. For the nine-month period, net profit fell 31.3% to RM360.21 million from RM524.44 million last year while revenue grew 0.84% to RM2.42 billion from RM2.4 billion.
Malakoff Corp Bhd's net profit rose 13% to RM94.49 million in 3QFY19 from RM83.5 million last year on lower tax expenses. Revenue fell 3% to RM1.86 billion versus RM1.91 billion. For its cumulative nine-month period, net profit rose 13% to RM213.75 million from RM188.95 million a year ago with revenue up 4% to RM5.68 billion from RM5.46 billion.
Matrix Concepts Holdings Bhd's net profit for 2QFY19 rose 10.9% to RM58.74 million from RM52.94 million last year, on higher revenue recognition from its Sendayan development project and maiden high-rise property development Chambers Kuala Lumpur. Revenue rose to RM282.73 million from RM253.31 million. For its six-month period, net profit rose 10% to RM113.39 million from RM103.09 million last year while revenue grew to RM531.23 million from RM483.35 million.
Paramount Corp Bhd’s net profit doubled to RM30.30 million in 3QFY19 from RM15.62 million last year on a gain on disposal. Revenue rose 3% to RM217.09 million from RM210.53 million. For the nine-month period, net profit stood at RM64.93 million from RM64.88 million last year, while revenue grew 7% to RM695.97 million from RM651.15 million.
KESM Industries Bhd’s net profit grew 71.45% to RM4.53 million in 1QFY20 from RM2.64 million last year on lower expenses and higher other income. Revenue declined 11.24% to RM72.39 million from RM81.56 million before.
Thong Guan Industries Bhd’s net profit grew 72.59% to RM17.34 million for 3QFY19 from RM10.05 million a year ago due to higher sales and profitability of its stretch film, industrial film and bags, garbage bags and courier bags. Revenue improved 15.78% to RM256.55 million from RM221.59 million. For the nine-month period, net profit jumped 62.16% to RM44.04 million from RM27.16 million last year while revenue rose 9.48% to RM703.45 million from RM642.51 million.
Teo Seng Capital Bhd’s net profit jumped 2.6 times to RM18.05 million for 3QFY19 from RM7.02 million a year ago on higher revenue from its poultry farming business. Revenue grew 10.47% to RM138.38 million from RM125.26 million. For the nine-month period net profit tripled to RM45.22 million from RM13.1 million last year, while revenue grew 19.55% to RM410.14 million from RM343.06 million.