KUALA LUMPUR: Based on news flow and corporate announcements last Friday, the stocks that may be in focus today could include Tenaga Nasional Bhd (TNB), Malaysia Pacific Corp Bhd (MPCorp), Protasco Bhd, Silk Holdings Bhd, WZ Satu Bhd and Asia Knight Bhd.

TNB’s fourth-quarter net profit surged 46% on-year to RM1.36 billion from RM927 million, while revenue was RM11.72 billion, up 23.37% on-year from RM9.5 billion. Earnings per share also improved to 24.03 sen from 16.65 sen.

It told Bursa Malaysia that the quarter saw electricity sales of RM11.2 billion, up 18.77% on-year from RM9.43 billion, mainly from sales of electricity in the peninsula and Sabah, which increased 18.3% and 21%, respectively, due to the increase in average electricity tariff.

TNB declared a dividend of 19 sen for the quarter.

MPCorp proposed to dispose of 163 sub-divided lots in Johor to dormant company Temokin Development Sdn Bhd for RM9.35 million or RM35.8 per sq ft. MPCorp told Bursa its wholly-owned subsidiary Lakehill Resort Development Sdn Bhd had entered into a sale and purchase agreement last Thursday with Temokin on the proposed disposal.

Protasco’s boardroom tussle stepped up a notch, with its board rejecting a resolution to remove managing director Datuk Seri Chong Ket Pen. Instead, it is insisting on an extraordinary general meeting (EGM) to remove two of its non-executive directors, Tey Por Yee and Ooi Kock Aun.

In a statement, Tey said the EGM will be held two days before the shareholders’ meeting on Nov 28 which he has requested to oust Chong.

He said Protasco’s board did not allow Chong to explain any of the allegations that were raised about a RM10 million personal financial gain from two contracts in the company’s investments in Indonesia.

“The resolution to suspend Chong until disciplinary action can be taken was also not allowed to be tabled,” Tey said.

Jasa Merin (Malaysia) Sdn Bhd, a 70%-owned subsidiary of Silk Holdings, entered into an agreement with Muhibbah Marine Engineering Sdn Bhd to acquire two vessels for RM219 million, which are expected to be delivered by the end of the second quarter of 2015.

Lembaga Tabung Haji emerged as a substantial shareholder of WZ Satu, which is in the midst of venturing into the oil and gas industry, with an 8.33% equity interest after acquiring 19 million shares last Tuesday via a private placement at 84 sen apiece or RM15.96 million. The price was 67% lower than WZ Satu’s closing price of RM2.57 last Tuesday.

Asia Knight slipped into Practice Note 17 status as company auditors expressed a disclaimer of opinion on its latest audited financial statements for the 18-month period ended June 30, 2014.

In an announcement, external auditors Messrs Nexia SSY said it was unable to obtain sufficient and appropriate evidence of the company’s estimates to provide a basis for an audit opinion.

This article first appeared in The Edge Financial Daily, on November 3, 2014.