Public Bank, GDB, Pentamaster, Ranhill, VSTECS, Sentoria, EcoFirst Bhd and SYF Resources

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KUALA LUMPUR (Nov 7): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Nov 8) may include the following: Public Bank Bhd, GDB Holdings Bhd, Pentamaster Corp Bhd, Ranhill Holdings Bhd, VSTECS Bhd, Sentoria Group Bhd, EcoFirst Consolidated Bhd and SYF Resources Bhd.

Public Bank Bhd’s net profit for the third quarter ended Sept 30, 2019 (3QFY19) dropped 1.52% to RM1.36 billion or 35.1 sen per share from RM1.38 billion or 35.64 sen per share a year earlier, due to the negative effect of Overnight Policy Rate (OPR) reduction of 0.25% in May 2019. Its quarterly revenue was flat at RM5.61 billion against RM5.62 billion.

For the nine months ended Sept 30 (9MFY19), Public Bank posted a net profit of RM4.11 billion, 1.9% lower from RM4.19 billion, on the back of revenue of RM16.78 billion, 2.26% higher from RM16.41 billion.

Construction firm GDB Holdings Bhd has bagged its first contract in East Malaysia to build the five-star Hyatt Centric hotel in Kota Kinabalu, Sabah, for a provisional contract value of RM213.3 million, from Hap Seng Consolidated Bhd’s unit Sunhill Ventures Sdn Bhd.

The 22-storey development features 222 guestrooms and will cater to adventurous, leisure and business guests as a convenient gateway of access to the commercial district, shopping mall, restaurants, as well as other local attractions in Sabah and Borneo.

Pentamaster Corp Bhd’s 3Q net profit grew 25.56% to RM21.48 million or 4.52 sen per share, from RM17.11 million or 3.6 sen per share a year ago on higher revenue from the automated test equipment (ATE) operating segment. Quarterly revenue was up 15.08% at RM124.63 million versus RM108.3 million.

For the cumulative nine-month period, net profit increased 58.27% to RM60.59 million or 12.76 sen per share from RM38.28 million or 8.06 sen per share last year while revenue grew 17.47% to RM364.13 million from RM309.98 million.

Ranhill Holdings Bhd’s net profit for 3Q rose 7% to RM17.63 million from RM16.49 million a year ago on higher contribution from its environment segment while its quarterly revenue also rose 1.77% to RM409.06 million from RM401.94 million.

The group declared a second interim dividend of two sen per share for the financial year ending Dec 31, 2019. The payment date will be fixed later.

For its cumulative nine-month period (9MFY19), net profit climbed 15% to RM57.67 million from RM50.06 million in the corresponding period last year as revenue grew 9% to RM1.24 billion from RM1.14 billion.

VSTECS Bhd’s net profit grew 7.71% to RM8.26 million or 4.6 sen per share in 3Q from RM7.67 million or 4.3 sen per share in the same period last year, thanks to higher sales, better gross profit, lower finance income and bigger share of profit in joint venture and associate. Quarterly revenue grew 5.36% at RM459.57 million from RM436.21 million due to improved market sentiment.

The company declared an interim dividend of 2.5 sen per share for the financial year ended Dec 31, 2019 (FY19), payable on Dec 18.

For the nine months of FY19 (9MFY19), the net profit increased 15.55% to RM18.86 million or 10.5 sen per share from RM16.32 million or 9.1 sen per share last year, while revenue grew 6.24% to RM1.26 billion from RM1.19 billion.

Property developer and resort operator Sentoria Group Bhd’s 75%-owned unit Sentoria Langkawi Sdn Bhd plans to dispose of part of a plot of land, measuring 35 acres, for its Langkawi Geopark Resort City project for RM49.5 million to I Strada Sdn Bhd.

EcoFirst Consolidated Bhd’s wholly-owned unit Pujian Development Sdn Bhd (PDSB) has received a sealed court order to pay a judgement sum of RM10.37 million in respect of the rescinded sale and purchase agreements involving 12 units.

Of the judgement sum, RM1.51 million is out of pocket expenses, RM2.33 million is a loan sum according to loan agreement, RM4.83 million is derived from the 10% interest rate on the total amount of out of pocket expenses and loan agreement, from the date of breach of sale and purchase agreements until Dec 3, 2010 and RM1.69 million derived from the 5% interest rate from the sum of out of pocket expenses and loan agreement, from Dec 4, 2010 to Sept 17, 2019.

The plaintiffs Chan Yoke Heng and 23 others’ claim against PDSB was allowed by the High Court on Sept 17, 2019.

SYF Resources Bhd is proposing to raise up to RM85.83 million via a renounceable rights issue with free warrants to fund its existing and future property development projects. The money raised will also be used to repay bank borrowings.

As at Nov 6, the principal amount of its borrowings stood at about RM76.38 million.

The cash call will be undertaken on the basis of one rights share with one free warrant for every two existing SYF Resources shares held at an entitlement date to be fixed. The exercise will involve up to 451.72 million right shares and a corresponding amount of free detachable warrants.