KUALA LUMPUR (Aug 27): Based on corporate announcements and news flow today, companies in focus on Monday (Aug 30) may include: Public Bank Bhd, RHB Bank Bhd, Axiata Group Bhd, Telekom Malaysia Bhd (TM), Bumi Armada Bhd, Boustead Holdings Bhd, Malayan Banking Bhd’s (Maybank), OSK Holdings Bhd, Petroliam Nasional Bhd (Petronas), Alliance Bank Malaysia Bhd, Power Root Bhd, CI Holdings Bhd, CSC Steel Holdings Bhd, Sarawak Plantation Bhd, Padini Holdings Bhd, TIME dotCom Bhd, Kerjaya Prospek Property Bhd and Paramount Corp Bhd.
Public Bank Bhd reported today that net profit for its second quarter ended June 30, 2021 rose 38% to RM1.38 billion from RM1.002 billion a year earlier, on higher net interest income, net income from Islamic banking, and net fee and commission income. Its revenue rose to RM4.92 billion for the quarter under review, from RM4.74 billion a year earlier. The group declared a dividend of 7.5 sen a share for the quarter under review.
RHB Bank Bhd’s net profit grew to RM701.34 million for the second quarter ended June 30, 2021 from RM400.77 million a year ago, while revenue dropped 10.2% to RM2.93 billion from RM3.25 billion. The group declared an interim dividend of 15 sen per share, with a cash payout of five sen per share, and an electable portion under dividend reinvestment plan of 10 sen per share.
Axiata Group Bhd’s net profit more than tripled to RM227.76 million for the second quarter ended June 30, 2021, from RM75.6 million in the immediate preceding quarter, as most of its geographical segments posted better results. Its quarterly revenue, however, grew at a much slower pace of 5.5% to RM6.39 billion, from RM6.06 billion in the preceding quarter. The group declared an interim dividend of four sen per share for the quarter under review.
Telekom Malaysia Bhd (TM) announced today that its second quarter profit fell 20.44% to RM218.59 million from RM274.75 million a year earlier, citing an increase in operating costs which included provisions recognised as part of the group’s manpower optimisation initiatives. Its quarterly revenue, however, rose to RM2.76 billion from RM2.59 billion, helped by the increase in revenue for all services apart from non-telecommunication related services. It declared a dividend of seven sen a share.
Bumi Armada Bhd’s net profit for the second quarter ended June 30, 2021 rose 16.77% to RM139.86 million, from RM119.77 million a year ago, underpinned by higher operating profit. Quarterly revenue, meanwhile, grew 1.44% to RM615.56 million from RM606.8 million, driven by higher floating, production and operation revenue.
Boustead Holdings Bhd significantly narrowed its net loss in the second quarter ended June 30, 2021 to RM7.3 million, from RM73.7 million a year ago, as revenue jumped 71.96% to RM2.58 billion from RM1.5 billion.
Bank Negara Malaysia (BNM) has approved Malayan Banking Bhd’s (Maybank) plan to increase its share capital through the issuance of up to 298 million new shares pursuant to the latter’s dividend reinvestment plan for its first interim dividend of 28 sen.
OSK Holdings Bhd’s net profit climbed 73.18% to RM103.61 million in the second quarter ended June 30, 2021 from RM59.83 million a year earlier, as businesses were allowed to operate, although at lower operating capacities, despite the continuous lockdown. Quarterly revenue jumped 53.07% to RM267.21 million from RM174.57 million, helped by its property, industries, capital financing and investment holding divisions. The company also declared an interim dividend of one sen per share to be paid on Sept 30.
Petroliam Nasional Bhd (Petronas) achieved a net profit of RM9.6 billion for the second quarter ended June 30, 2021, a marginal 3.3% growth against RM9.29 billion in the preceding quarter, while revenue increased 8.6% quarter-on-quarter to RM57.1 billion against RM52.54 billion. It attributed the improved earnings to lower impairment as a result of firmer crude oil prices, larger sales volume and lower operating expenditure.
Alliance Bank Malaysia Bhd’s net profit for the first quarter ended June 30, 2021 rose 39.98% to RM146.01 million from RM104.31 million a year ago, as revenue for the quarter expanded 14.55% to RM482.96 million from RM421.61 million, mainly due to higher net interest income and other operating income.
Power Root Bhd’s net profit for the first quarter ended June 30, 2021 slumped 81.29% to RM2.01 million, from RM10.73 million a year ago, as revenue fell 11.01% to RM74.68 million from RM83.92 million, mainly attributable to lower export market revenue. The group has proposed a first interim dividend of 0.5 sen per share.
CI Holdings Bhd’s net profit for the fourth quarter ended June 30, 2021 jumped 177% to RM22.13 million, from RM7.98 million a year earlier, on the back of its revenue improving 20.88% to RM900.15 million from RM744.69 million previously, due to a 100% increase in average olein prices which was moderated by a 25% decline in full container loads exported and 4% strengthening of the ringgit against the US dollar. The group has proposed a final dividend of 12 sen per share, two sen more than the dividend doled out a year ago.
CSC Steel Holdings Bhd is back in the black with a net profit of RM15.43 million for the second quarter ended June 30, 2021, compared with a net loss of RM2.16 million a year earlier, on the back of improved product margins. Revenue rose 167% to RM203 million, from RM121.4 million a year prior, lifted by higher sales volume and selling prices, as the group saw better market demand for its products amid supply chain constraints which pushed steel prices up.
Sarawak Plantation Bhd’s net profit for the second quarter ended June 30, 2021 jumped 52% to RM29.39 million, from RM19.39 million in the previous corresponding quarter, supported by higher average selling prices and sales volume. Quarterly revenue almost doubled to RM192.56 million from RM97.42 million a year ago.
Fashion retailer Padini Holdings Bhd posted a net profit of RM10.49 million in the fourth quarter ended June 30, 2021, compared to a net loss of RM16.84 million a year ago, due to less impact on its outlets from the implementation of the Movement Control Order. Quarterly revenue expanded 20.46% to RM209.84 million, from RM174.2 million a year earlier.
TIME dotCom Bhd’s net profit for the second quarter ended June 30, 2021 jumped 32.8% to RM92.67 million, from RM69.79 million a year earlier, driven by higher net gain on foreign exchange, higher interest income, higher share of associates, and lower property, plant and equipment written off, as well as increased revenue. Quarterly revenue grew 13.9% to RM347.18 million from RM304.8 million, underpinned by higher data revenue, recurring data centre revenue, as well as one-off non-recurring contract revenue.
Kerjaya Prospek Property Bhd via its wholly-owned subsidiary Greencove Sdn Bhd has entered into a sale and purchase agreement with Prousaha (M) Sdn Bhd, a wholly-owned unit of Asia Pac Holdings Bhd, to acquire a parcel of leasehold land in Sungai Buloh, Selangor for RM42 million cash.
Paramount Corp Bhd posted a net profit of RM1.62 million in the second quarter ended June 30, 2021, compared to a net loss of RM4.01 million a year ago, while its quarterly revenue almost doubled to RM127.45 million from RM64.2 million. It attributed the better profitability to the low base of last year, coupled with the higher revenue due to containment measures implemented to curb the spread of Covid-19, which resulted in the current measures being less disruptive to the group’s operations, compared with the same period last year.