KUALA LUMPUR (Feb 26): Based on corporate announcements and newsflow today, stocks in focus on Thursday (Feb 27) may include: Serba Dinamik Holdings Bhd, Unisem (M) Bhd, Berjaya Corp Bhd, UEM Edgenta Bhd, Sime Darby Property Bhd, Genting Plantations Bhd, MBM Resources Bhd, Malaysian Pacific Industries Bhd, TH Plantations Bhd, Padini Holdings Bhd and UOA Development Bhd.
Serba Dinamik Holdings Bhd turned in another set of record high earnings in the financial year ended Dec 31, 2019 (FY19). Its annual net profit soared to RM496.64 million on revenue of RM4.53 billion.
The record high annual earnings was driven by 26.9% growth in its quarterly net profit in its fourth quarter ended Dec 31, 2019 (4QFY19) to RM140.88 million from RM112.87 million in the year-ago quarter. Quarterly revenue increased 37.9% to RM1.36 billion from RM978 million before on improvements across all three of its main segments.
Serba Dinamik declared a fourth interim single-tier dividend of 1.4 sen for FY19 payable on March 30, bringing total dividends for the year to 7.51 sen per share.
Unisem (M) Bhd made a net loss of RM9.54 million in its financial year ended Dec 13, 2019 (FY19) — its first annual loss since FY13 — after recording a second consecutive quarter in the red, dragged by the closure of its Batam unit, PT Unisem.
Revenue for the full year fell 7.4% to RM1.25 billion from RM1.35 billion in FY18. Unisem recommended a final dividend of two sen per share.
The group registered a net loss of RM26.85 million in its final quarter of FY19 (4QFY19) compared with a net profit of RM23.49 million in 4QFY18 while revenue fell 3.6% to RM319.83 million from RM331.82 million on lower average selling prices.
Berjaya Corp Bhd posted a net loss of RM134.42 million in its second quarter ended Dec 31, 2019 (2QFY20), mainly due to operating expenses incurred by its property projects, income tax expense, and impairments.
Quarterly revenue came in at RM2.08 billion. No comparative figures were disclosed following a change in the group's financial year-end from April 30 to June 30.
For its cumulative six-month period (1HFY20), Berjaya Corp posted a net loss of RM188.65 million while revenue came in at RM4.15 billion.
In view of the recent outbreak of the novel coronavirus (COVID-19), Berjaya Corp said its hotel and resorts business segment has been directly and adversely impacted. As such, it said the segment’s performance is expected to be challenging in the following quarters.
UEM Edgenta Bhd’s fourth quarter net profit grew 43.53% to RM97.49 million from RM67.92 million a year earlier, thanks to higher revenue and other income.
Quarterly revenue grew 10.03% to RM712.26 million from RM647.35 million in 4QFY18.
The group declared a dividend of eight sen per share, bringing its FY19 total to 14 sen per share — unchanged from FY18.
For FY19 as a whole, UEM Edgenta’s net profit rose 22.47% to RM181.78 million, from RM148.43 million in FY18, as revenue grew 10.47% to RM2.41 billion from RM2.18 billion.
Sime Darby Property Bhd returned to profitability in the financial year ended Dec 31, 2019 (FY19) posting a net profit of RM598.53 million, thanks to higher contributions from property development and one-off gains on disposal of assets, while revenue swelled 30% to RM3.18 billion from RM2.45 billion before.
In its fourth quarter, the group posted a net profit of RM102.95 million versus a net loss of RM347.5 million a year ago while revenue rose 12.69% to RM888.93 million from RM788.81 million.
Sime Darby Property declared a second interim dividend of two sen per share for FY19 payable on April 20.
Genting Plantations Bhd posted a fourfold jump in net profit to RM61.69 million in the fourth quarter ended Dec 31 (4QFY19) from RM14.27 million in the year-ago quarter, supported by higher crude palm oil (CPO) prices. Quarterly revenue rose a third to RM643.59 million from RM482.34 million before, on the back of higher CPO prices and sales volume of biodiesel and refinery products, as well as improved property sales.
Genting Plantations recommended a final single-tier dividend of 9.5 sen per share for FY19.
Genting Plantations’ full-year net profit came in at RM142.07 million, down 13.8% from RM164.9 million in FY18, despite a 19.1% growth in annual revenue to RM2.27 billion on higher sales volume at its downstream manufacturing segment.
MBM Resources Bhd’s net profit slumped 33.1% to RM41.04 million in the fourth quarter ended Dec 31, 2019 (4QFY19) from RM61.3 million a year earlier, on lower share of profits from its joint-venture entity and associates as well as write off some one-off costs in the motor trading division. Quarterly revenue inched up 2.19% to RM496.06 million from RM485.45 million in 4QFY18.
MBM Resources declared a second interim dividend of seven sen a share, payable on March 30.
For the entire FY19, MBM Resources net profit rose 32.22% to RM220.49 million or 56.41 sen per share from RM166.76 million or 42.66 sen per share in the previous year. Revenue grew 10.93% to RM2.09 billion from RM1.88 billion in FY18.
Malaysian Pacific Industries Bhd (MPI) reported a net profit of RM45.1 million in its second quarter ended Dec 31, 2019 (2QFY20), 15% higher than RM39.23 million in the year-ago quarter.
Revenue for the quarter under review grew 3.9% to RM413.76 million from RM398.16 million in the corresponding quarter a year ago, mostly due to higher contribution from its Asia segment, which mitigated falls at its US and Europe segments.
MPI’s first-half (1HFY20) net profit amounted to RM81.89 million, relatively unchanged from RM81.5 million in the same period a year ago, although revenue was 3.6% lower at RM782.86 million versus RM811.92 million before, impacted by the US-China trade war.
TH Plantations Bhd narrowed its net loss by more than half to RM226.5 million for its financial year ended Dec 31, 2019 (FY19) from RM594.61 million a year ago. Revenue came in 4.9% lower at RM493.65 million compared with RM519.32 million in FY18, due to lower average realised prices for crude palm oil (CPO), palm kernel (PK) and fresh fruit bunches (FFB), according to a bourse filing.
In the fourth quarter, its net loss was also narrowed to RM167.65 million against RM578.24 million in the year-ago quarter. Revenue rose 14.9% to RM136.25 million from RM118.62 million in 4QFY18.
Padini Holdings Bhd’s net profit grew 4.86% to RM55.79 million in the second quarter ended Dec 31, 2019 (2QFY20), from RM53.2 million in the corresponding quarter a year earlier, thanks to increased sales after the opening of four new stores.
Quarterly revenue rose 7.04% to RM495.12 million from RM462.58 million. It declared a third interim dividend of 2.5 sen a share, payable on March 30.
For the cumulative first six months ended Dec 31 (1HFY19), Padini’s net profit climbed 5.95% to RM75.40 million from RM71.17 million, while revenue rose 5.15% to RM833.16 million from RM792.36 million.
UOA Development Bhd’s net profit fell 17.5% to RM112.61 million in its fourth quarter ended Dec 31, 2019 (4QFY19), from RM136.45 million in the corresponding quarter a year ago, as revenue more than halved to RM227.02 million from RM486.35 million.
Despite registering lower profits in the quarter, UOA Development wrapped up FY19 with an improved net profit of RM399.47 million, up 5.4% over the previous year’s RM378.92 million.
This was despite a 12.6% contraction in revenue to RM1.1 billion from RM1.26 billion in FY18. UOA Development proposed a first and final single tier dividend of 14 sen per share for FY19.