KUALA LUMPUR (Feb 27): Based on corporate announcements and news flow today, stocks in focus on Thursday (March 1) may include the following: Tenaga Nasional Bhd, Malayan Banking Bhd, CIMB Group Holdings Bhd, Malaysian Resources Corp Bhd, DRB-Hicom Bhd, BIMB Holdings Bhd, AWC Bhd, TH Plantations Bhd, PPB Group Bhd, Sunway Bhd, Hap Seng Consolidated Bhd, EITA Resources Bhd, Mudajaya Group Bhd and 7-Eleven Malaysia Holdings Bhd.
Tenaga Nasional Bhd booked a net profit of RM2.76 billion for the four-month period ended Dec 31, 2017, with 44.4% of profit after tax attributed to its regulated business.
Revenue in the period stood at RM34.95 billion and the group announced a final single tier dividend of 21.41 sen per share for the period.
The utilities provider’s long-term issuer default ratings for both local and foreign currencies was upgraded by Fitch Ratings to “A-” with a stable outlook from “BBB+” previously. Fitch cited strong government support as a driver.
Malayan Banking Bhd (Maybank)’s annual net profit for FY17 hit a record high of RM7.52 billion although net profit for the fourth quarter ended Dec 31, 2017 (4QFY17) declined 9.7% to RM2.13 billion due to higher overhead expenses and one-off proceeds from the sale of securities in 2016.
Quarterly revenue however rose 4.8% to RM11.79 billion as full-year revenue inched up 2.1% to RM45.58 billion on stronger contribution from all its business segments and key overseas markets.
CIMB Group Holdings Bhd's net profit rose 24% year-on-year (y-o-y) in the fourth quarter ended Dec 31, 2017 (4QFY17) to RM1.06 billion from RM854.39 million on overall better performance. Revenue grew 5% year-on-year to RM4.52 billion from RM4.31 billion.
The group declared a second interim dividend of 12 sen per share for the financial year ended Dec 31, 2017, representing a 51% payout ratio for FY17.
For the full year, CIMB's net profit climbed 26% y-o-y to RM4.48 billion from RM3.56 billion. Revenue rose 10% y-o-y to RM17.63 billion from RM16.07 billion.
Malaysian Resources Corp Bhd (MRCB) reported a 43.8% y-o-y drop in net profit to RM105.65 million for 4QFY17 as quarterly revenue fell 60.4% y-oy to RM408.16 million on the completion of Sentral Residences in KL Sentral and its Easton Burwood development in Melbourne.
The group announced a first and final dividend of 1.75 sen per share for FY17, after exceeding its sales target of RM1.2 billion last year to hit RM1.4 billion.
DRB-Hicom Bhd reported a net loss of RM58.15 million for its third quarter ended Dec 31, 2017 (3QFY18), against a net profit of RM351.86 million a year ago, due to a slump in automotive sales and a one-off impairment at Proton.
Quarterly revenue slipped 11.2% to RM3.05 billion, with the automotive segment posting a 23.22% decline in contribution on weaker sales.
BIMB Holdings Bhd’s net profit for 4QFY17 grew 7.29% y-o-y to
RM149.64 million, thanks to higher distributable income but offset by higher expenses incurred.
Revenue rose to RM946.88 million on higher investment income across the board, save for investment vide depositor funds.
For the nine-month period ended Dec 31, 2017 (9MFY18), the diversified group posted a net profit of RM508.71 million compared to a net loss of RM127.07 million a year earlier.
AWC Bhd is proposing to diversify its existing engineering services business to include rail-related works via the acquisition of a 60% stake in Trackwork & Supplies Sdn Bhd for RM43.5 million.
It had entered into a conditional share sale agreement with Goh Poey Hong, Chong Kim Loong, Goh Tse Woei, Kong Keat Voon, Chong Chong Hong, Lim Huey Yih and Shaun Chan Thiam Eng for the proposed stake acquisition.
It said RM20 million of the purchase consideration will be satisfied through cash and the rest via the issuance of new shares in AWC.
TH Plantations Bhd reported a 95% y-o-y fall in net profit in 4QFY17 to RM6.88 million from RM127.46 million, as the previous corresponding period had benefited from an extraordinary gain of RM112.58 million from the disposal of shares in a subsidiary.
Quarterly revenue climbed 5% y-o-y to RM178.2 million from RM170.08 million, on higher sales of palm kernel and fresh fruit bunch.
It proposed a final dividend of 2 sen per share.
PPB Group Bhd’s net profit fell 24.2% y-o-y to RM375.93 million in 4QFY17 from on lower contributions from the grains and agribusiness, consumer products and property segments.
Quarterly revenue, however, was up 11.1% to RM1.14 billion in 4QFY17 from RM1.02 billion a year ago, with growth coming from across all major business segments.
The diversified conglomerate declared a final dividend of 22 sen per share for FY17.
Sunway Bhd’s 4QFY17 net profit slipped 1.08% y-o-y to RM183.8 million from RM185.82 million, its property development, trading and manufacturing, and quarry segments registered lower profit contributions.
Revenue for the quarter rose 33.21% to RM1.72 billion amid an increase in segmental revenue from all businesses except quarry.
The group proposed a second interim dividend of three sen per share.
Hap Seng Consolidated Bhd’s net profit for 4QFY17 rose 65% y-o-y to
RM144.2 million from RM87.57 million, thanks to the recognition of contingent consideration and profit guarantee relating to a subsidiary acquisition during the quarter, as well as the exclusion of a previously recorded impairment loss.
A 16% year-on-year revenue growth to RM1.41 billion supported higher income in the quarter, driven by improved topline contribution from all divisions.
EITA Resources Bhd has bagged an RM80.6 million contract from Prasarana Malaysia Bhd to supply 114 escalators for the Light Rail Transit Line 3 (LRT3) from Bandar Utama to Johan Setia.
Mudajaya Group Bhd is disposing of a 7.07% stake in R.K.M Powergen Pte Ltd to Apollo Ventures Co Ltd for US$19.5 million (RM76.6 million) cash, which would see its stake in the Indian independent power producer drop to 18.93% from 26%.
Mudajaya, which reported a narrower net loss of RM11.28 million in 4QFY17 from RM246.15 million a year ago, is expected to realise a loss of RM49.1 million from the proposed disposal.
7-Eleven Malaysia Holdings Bhd’s net profit for 4QFY17 jumped 67% y-o-y to RM15.86 million from RM9.52 million, thanks to higher revenue and improvement in gross margins.
Quarterly revenue grew 4% y-o-y to RM546.24 million from RM523.61 million, driven by growth in new stores, higher average spend per customer and better consumer promotion activity.