KUALA LUMPUR (Nov 26): Based on corporate announcements and news flow today, companies that in focus tomorrow (Nov 27) may include: Sime Darby Bhd, IOI Corp Bhd, Malaysian Pacific Industries Bhd (MPI), Inari Amertron Bhd, YTL Corp Bhd, YTL Power International Bhd, YTL Hospitality Real Estate Investment Trust (YTL REIT), MMC Corp Bhd, Tan Chong Motor Holdings Bhd, Leong Hup International Bhd, IJM Corp Bhd, IJM Plantations Bhd, TH Plantations Bhd, Carlsberg Brewery Malaysia Bhd, TDM Bhd, Green Packet Bhd, Ekovest Bhd, IRIS Corp Bhd, Icon Offshore Bhd and Solarvest Holdings Bhd.
Sime Darby Bhd’s net profit rose 9.3% to RM246 million 1QFY20 from RM225 million last year, driven by growth in its industrial division and the motors business. Revenue rose 7.1% to RM9.48 billion from RM8.85 billion last year.
IOI Corp Bhd’s net profit rose 3.6% to RM149 million for 1QFY20 from RM143.8 million last year, on higher contribution from its resource-based manufacturing segment. Revenue, however, fell 5.3% to RM1.78 billion from RM1.88 billion last year.
Malaysian Pacific Industries Bhd (MPI)’s net profit fell 12.97% to RM36.79 million in 1QFY20, from RM42.28 million last year, as revenue was hit by the US-China trade war. Quarterly revenue declined 10.79% to RM369.1 million, from RM413.76 million. The group declared an interim dividend of 10 sen per share, payable on Dec 24.
Inari Amertron Bhd’s net profit fell 20.7% to RM47.73 million in 1QFY20, from RM60.16 million last year as revenue contracted 2.8% to RM316.61 million from RM325.72 million, due to reduced optoelectronic sales volume. The group, nonetheless, proposed a first single-tier interim dividend of 1.3 sen per share, payable on Jan 9, 2020.
YTL Corp Bhd's net profit slumped 87.8% to RM15.31 million in 1QFY20 from RM125.79 million last year, despite registering a 29.3% revenue growth to RM5.28 billion, from RM4.09 billion previously, as several business segments were loss-making including its cement manufacturing and trading business.
Its subsidiary YTL Power International Bhd reported a 47% fall in net profit to RM67.36 million, from RM126.28 million last year, despite revenue growing 5.57% to RM2.96 billion from RM2.80 billion, as it recorded significant increase in losses in its multi utilities and telecommunications businesses. In addition, its power generation and water and sewerage businesses saw lower profits.
Meanwhile, YTL Hospitality Real Estate Investment Trust’s (YTL REIT) net property income grew 11.4% to RM62.7 million for 1QFY20, from RM56.3 million last year, thanks to higher master leases and management contracts. The trust declared a final income distribution per unit (DPU) of 1.96 sen per unit for the financial year ended June 30, 2020 (FY20), payable on Dec 27, 2019. The payout represents 100% of the total distributable income for the quarter.
MMC Corp Bhd’s net profit climbed 70.3% to RM66.34 million in 3QFY19, from RM38.94 million last year, on higher work progress from Klang Valley Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (KVMRT-SSP) Line, as revenue grew 32% to RM1.25 billion from RM944.08 million. For its nine-month period, net profit rose 86.4% to RM187.08 million from RM100.37 million last year, while revenue grew 5.7% to RM3.62 billion from RM3.42 billion.
Tan Chong Motor Holdings Bhd saw its 3QFY19 net profit plunge 71.9% to RM9.25 million on weaker sales experienced, from RM32.86 million last year. Quarterly revenue dropped 33% to RM1.05 billion from RM1.57 billion.
Leong Hup International Bhd’s net profit rose 26% to RM44.38 million in 3QFY19, from RM35.21 million last year, thanks to higher earnings from its feedmill business. Revenue grew 7.35% to RM1.53 billion, from RM1.42 billion. For its nine-month period (9MFY19), net profit declined 21.2% to RM121.05 million, from RM153.55 million last year, although its revenue grew by 7.6% to RM4.51 billion, from RM4.19 billion.
IJM Corp Bhd's net profit more than tripled to RM70.1 million for 2QFY20 from RM21.92 million last year, on improved earnings from the property development, manufacturing and quarrying, plantation and infrastructure divisions. Quarterly revenue rose 20.2% to RM1.57 billion from RM1.31 billion. The six-month period (2HFY20) rose 53% to RM129.53 million from RM84.68 million last year, while revenue increased 13.2% to RM3.12 billion from RM2.75 billion.
Its subsidiary IJM Plantations Bhd’s net loss narrowed to RM2.32 million in 2QFY20, from RM28.30 million last year, helped by higher sales volume and favourable foreign exchange positions. Quarterly revenue rose 23.4% to RM172.86 million, from RM140.09 million. For the six-month period (1HFY20), net loss contracted to RM7.10 million from RM47.87 million last year, while revenue fell 5.4% to RM305.93 million.
TH Plantations Bhd’s net loss rose 59.6% to RM31.61 million in 3QFY19 from RM19.8 million last year, due to impairment losses of property, plant and equipment amounting to RM53.57 million, lower revenue and higher finance cost by RM14.37 million. Revenue slipped 3.5% to RM136.01 million from RM140.91 million last year. For the nine-month period (9MFY19), net loss widened to RM58.85 million from RM16.37 million last year, while revenue dropped 10.8% to RM357.4 million from RM400.7 million.
Carlsberg Brewery Malaysia Bhd’s 3QFY19 net profit grew 6.5% higher to RM69.18 million, from RM64.98 million last year, sustained by higher sales and the continued premiumisation in Malaysia and Singapore. Quarterly revenue was up 10% to RM542.22 million, from RM492.77 million. The group declared a single tier interim dividend of 17 sen per share, payable on Jan 22, 2020.
Following the recent fire incident at its Kalimantan estates, TDM Bhd reported a wider net loss for its 3QFY19 at RM41.40 million from RM3.27 million last year — despite a 22.4% growth in revenue to RM106.11 million from RM86.70 million — as it wrote-off bearer plants affected by the fire incidents. The write-off amounted to RM33.7 million, for a total area of 1,918 hectares.
Green Packet Bhd has returned to profitability in 3QFY19 after 10 loss-making quarters, with a net profit of RM5.6 million from a net loss of RM13.6 million last year. Revenue doubled to RM185.61 million from RM92.44 million last year, buoyed by growth in its solutions (468%), digital services (125%) and communications services (83%) segments.
Ekovest Bhd, whose first-quarter net profit jumped 44% on-year, said it has entered into a "multi-angle, broad-based strategic collaboration" with China's state-owned conglomerate China Railway Group Ltd (CREC). The collaboration aims to explore new ventures and projects like the construction and development of infrastructure in Malaysia and the Asia Pacific.
Separately, it said its net profit grew to RM63.32 million in the first quarter ended Sept 30, 2019 (1QFY20) from RM43.87 million in the year-ago quarter, while revenue rose 14% to RM346.8 million from RM304.89 million, as it has received a facilitation fund from the government for infrastructures at Jalan Cheras.
IRIS Corp Bhd, which posted a 139.3% jump in second-quarter net profit, is partnering Sri Lanka-based Metropolitan Office Pte Ltd to collaborate and explore business opportunities in e-passport, automated border control (ABC) and attendance management solutions (AMS) in Sri Lanka.
Icon Offshore Bhd has received the nod from its shareholders to move forward with its debt restructuring and cash call proposal, which will greatly help reduce the debt burden that has eaten into the company's earnings.
Solarvest Holdings Bhd’s share price more than doubled on its ACE Market debut today, making it the star performer on Bursa Malaysia in terms of first-day performance this year. The stock opened at 60 sen, a premium of 25 sen over its initial public offering (IPO) price of 35 sen, before rising to close at 75.5 sen — a 40.5 sen or 115.71% gain.