KUALA LUMPUR (Feb 24): Based on corporate announcements and news flow today, companies that will likely be in focus tomorrow (Thursday, Feb 25) may include: Sime Darby, TM, CLIQ Energy, Karex, MBSB, PetGas, Parkson, CCM, TH Heavy, MBM Resources, Protasco, Malayan Flour Mills, Fajarbaru, Econpile, KEuro, Paramount Corp, ECM Libra, Yi-Lai and Matrix Concepts.
Sime Darby Bhd's net profit fell 38% to RM273.29 million in the second quarter ended Dec 31, 2015 (2QFY16) from RM437.4 million a year earlier, as oil palm plantation and mining equipment income fell.
In a statement to Bursa Malaysia today, Sime Darby said revenue rose to RM11.83 billion from RM10.74 billion.
For 1HFY16, its net profit dropped to RM601.68 million from RM938.09 million a year earlier, while revenue rose to RM22 billion from RM20.87 billion.
Despite the net profit drop, Sime Darby proposed a dividend of six sen per share for the quarter under review, payable on May 6.
Telekom Malaysia Bhd (TM)'s net profit for the fourth quarter ended Dec 31, 2015 fell 11.85% to RM192.43 million, from RM218.3 million a year earlier, primarily due to the consolidation of operational losses of Packet One Networks (Malaysia) Sdn Bhd (P1).
A filing with Bursa Malaysia today showed its latest quarterly revenue came in at RM3.18 billion, versus RM3.16 billion a year earlier, a slight increase of 0.86%, mainly due to higher revenue from Internet and multimedia and other telecommunication related services, though these were partially offset by decline in data, voice and non-telecommunication related services.
TM declared a second interim dividend of 12.1 sen or RM454.7 million for FY15, payable on Mar 24.
For the full year (FY15), TM's net profit dipped 15.81% to RM700.28 million, from RM831.81 million, due primarily to foreign exchange losses from borrowings of the group, arising from the weakening of the ringgit against the US dollar.
Revenue, however, rose 4.33% to RM11.72 billion, from RM11.24 billion.
CLIQ Energy Bhd, the second oil and gas special purpose acquisition company (SPAC) listed on Bursa Malaysia, will be liquidated and returning monies to shareholders after the Securities Commission (SC) declined its request for more time to acquire its qualifying asset (QA).
In a filing with Bursa Malaysia today, CLIQ said it received the official response from the SC today via a letter dated Feb 24, which stated that the commission has decided it will not be able to accede to the SPAC's extension request.
Karex Bhd, which today reported a 55.7% jump in its net profit for its second quarter ended Dec 31, 2015, plans to issue one bonus share for every two existing Karex shares held at an entitlement date to be fixed and announced later, to reward shareholders.
In total, the world’s largest condom maker could be issuing 334.13 million new bonus shares. At a par value of 25 sen per share, Karex could spend up to RM83.53 million from its share premium to fund the bonus issuance, which will trim its share premium to RM31.39 million, following the exercise.
Meanwhile, Karex’s net earnings for the second quarter ending June 30, 2016 (2QFY16) came in at RM22.65 million or 3.39 sen per share, thanks to sale of higher margin product, lower latex price and a one-off gain from a bargain purchase amounting to RM4.7 million, compared withc a net profit of RM14.55 million or 2.39 sen per share in 2QFY15.
Karex also posted a 25.43% revenue growth in 2QFY16 to RM96.58 million, which came mainly from higher condom sales from the group’s tender segment, a statement from the company showed.
Karex’ net profit for the six months ended Dec 31, 2015 (1HFY16) was RM44.94 million or 6.72 sen a share, up 64.13% from the previous year’s RM27.38 million or 4.51 sen per share. Revenue was up by 17.36% to RM172.67 million, from RM147.13 million previously.
Malaysia Building Society Bhd (MBSB) slipped into the red with a net loss of RM15.81 million or 0.56 sen per share in its fourth quarter ended Dec 31, 2015 (4QFY15), mainly due to higher allowances for impairment losses on loans, advances and financing, with the continuation of its impairment programme that was initiated in the fourth quarter of 2014.
In comparison, the group recorded a net profit of RM393.07 million or 14.56 sen per share in 4QFY14.
Its latest quarterly revenue came in 38.9% higher at RM825.69 million, from RM594.33 million a year earlier, due to higher income from investments of liquid assets and higher financing income from corporate segment.
It also proposed a final dividend of 3 sen for the financial year ended Dec 31, 2015, amounting to RM85.16 million, to be approved at its upcoming annual general meeting.
For the full year (FY15), its net profit plunged 74.6% to RM257.59 million or 9.24 sen per share, from RM1.02 billlion or 39.15 sen per share, again due to higher allowances for impairment losses.
Annual revenue was 16.7% higher at RM3.05 billion, as compared to RM2.61 billion a year ago.
Petronas Gas Bhd (PetGas) reported a 27.44% drop in its net profit in its final quarter of financial year ended Dec 31, 2015 (4QFY15) to RM414.5 million or 20.95 sen per share, mainly due to lower share of profit from joint ventures, attributable to recognition of deferred tax assets (DTA) on investment tax allowance (ITA) granted for the Kimanis Power Plant in the corresponding quarter.
It recorded a net profit of RM571.3 million or 28.87 sen per share in 4QFY14.
Higher operating costs, driven by its focus to improve asset integrity under PetGas’ transformation initiatives, also impacted the group’s latest quarterly earnings, according to its bourse filing today.
Despite the weakening of its 4QFY15 bottom line, PetGas has declared a higher fourth interim dividend of 17 sen per share, payable on Mar 23. In comparison, it declared a dividend of 15 sen per share in the previous corresponding quarter.
PetGas closed FY15 with a 7.83% growth in its net profit, to RM1.99 billion or 100.44 sen a share (RM1.0044), against the previous year’s net profit of RM1.84 billion or 93.15 sen a share. The group said this was due to recognition of DTA arising from ITA granted for plant rejuvenation and revamp project, amounting to RM443.1 million.
Its turnover for FY15 came in at RM4.46 billion in FY15, up by 1.46% from the previous year’s RM4.39 billion.
Parkson Holdings Bhd posted a net loss of RM31.44 million in the second quarter ended Dec 31, 2015 (2QFY16), as the retail group registered losses in its operations abroad.
In a statement to Bursa Malaysia today, Parkson said the net loss compared to a net profit of RM110.61 million a year earlier. Revenue rose to RM1.04 billion, from RM981.68 million.
During 2QFY16, Parkson said its retail operations in China, Vietnam, Myanmar and Indonesia reported losses. Malaysian operations however, posted profit during the quarter.
For 1HFY16, Parkson's group net profit fell to RM31.85 million, from RM130.82 million a year earlier. Revenue was up at RM1.97 billion, from RM1.83 billion.
Chemical Company of Malaysia Bhd's (CCM) Indonesian unit is disposing of three pieces of lands, measuring in aggregate 75,339 sq meter (810,942 sq ft) in Medan, Indonesia, for IDR121.8 billion (RM38.5 million) cash.
It plans to utilise the proceed to settle the intercompany loan taken up by PTCCMA, as well as to be used as CCM Group's working capital after paying all incidental costs to be incurred in connection with the proposed disposal.
TH Heavy Engineering Bhd saw its net loss for the fourth quarter ended Dec 31, 2015 (4QFY15) narrowed to RM7.07 million or 0.63 sen per share, from RM71.99 million or 7.15 sen per share, mainly due to lower impairment loss on receivable, as well as lower losses from on-going fabrication projects.
However, its quarterly revenue was down 86.2% to RM7.68 million, from RM58.32 million, due to completion of prior year’s projects and the decrease in the number of ongoing projects.
For the full year FY15, its net loss improved to RM37.24 million or 3.33 sen per share, from RM76.45 million or 7.6 sen per share, although revenue shed 70% to RM100.57 million, from RM344.12 million in FY14.
Auto parts maker MBM Resources Bhd saw its net profit plunge 76.5% to RM7.41 million or 1.9 sen per share in the fourth quarter ended Dec 31, 2015 (4QFY15), on lower contributions from joint venture and associates, and more conservative provisioning for slow-moving stocks and receivables.
In comparison, it recorded a net profit of RM31.55 million or 8.08 sen per share a year ago, its bourse filing today showed. Revenue for 4QFY15 grew 6.8% to RM439.33 million, from RM411.53 million in 4QFY14, due to better sales in the passenger vehicles segment.
It also declared a second interim dividend of 3 sen for the financial year ended Dec 31, 2015.
The weak results, however, dragged its annual net profit for FY15 down to RM80.4 million or 20.58 sen a share, 28.34% lower from RM112.22 million or 28.72 sen a share in FY14. Cumulative annual revenue, meanwhile, gained 2.85% to RM1.82 billion in FY15, from RM1.77 billion in FY14.
Protasco Bhd posted a net profit of RM20.2 million or 5.96 sen a share for the fourth quarter ended Dec 31, 2015 (4QFY15), compared to a net loss of RM4.07 million or 1.21 sen a share a year ago, contributed mainly by its construction segment.
In a filing with Bursa Malaysia today, the group said revenue rose 15.7% to RM455.89 million, from RM393.91 million, due to improved contributions from its maintenance, construction and property development segments.
The latest quarterly filing marks its fourth profitable quarter, after it slipped into losses in 4QFY14.
For the full FY15, net profit stood at RM66.24 million or 19.77 sen a share, compared to a net loss of RM46.44 million or 13.95 sen a share a year before.
Revenue, meanwhile, was 21.7% higher at RM1.29 billion, compared with RM1.06 billion in FY14.
Malayan Flour Mills Bhd (MFM) dipped into the red in its fourth quarter ended Dec 31, 2015 (4QFY15) with a net loss of RM7.91 million or 1.47 sen per share, due to lower profit margins in the poultry integration segment. It posted a net profit of RM4.64 million or 0.86 sen per share in 4QFY14.
Revenue for the quarter came in 4.9% higher at RM602.08 million, from RM574.14 million, on higher sales recorded in the flour and trading in grains segment.
It declared a second interim dividend of 2 sen for the current financial year ended Dec 31, 2015, payable March 25.
For the full year (FY15), MFM's net profit plunged 70% to RM20.55 million or 3.82 sen per share, from RM67.78 million or 12.59 sen per share, due to lower margins in poultry integration segment, coupled with higher net interest expenses and higher share of loss on equity accounted joint venture in 2015.
Annual revenue was almost flat at RM2.3 billion, compared to RM2.29 billion a year ago.
Fajarbaru Builder Group Bhd's net profit for second quarter ended Dec 31, 2015 (2QFY16) jumped 5.6 times to RM8.3 million, from RM1.48 million a year ago, contributed by the group's new logging and timber trading business. Earnings per share thus ballooned to 2.52 sen, from 0.45 sen previously.
In its quarterly result announcement to Bursa Malaysia, Fajarbaru said its logging and timber trading segment contributed RM38.5 million of revenue and RM23.3 million of pre-tax profit to the group.
For the first half of FY16 (1HFY16), net profit leaped 4.28 times to RM11.08 million, from RM2.59 million in previous corresponding period; while revenue expanded 33.74% to RM225.52 million, from RM168.62 million in 1HFY15. 1HFY16’s earnings per share swelled to 3.37 sen, from 0.93 sen.
Econpile Holdings Bhd posted a 55.6% jump in net profit to RM16.58 million in the second quarter ended Dec 31, 2015 (2QFY16), from RM10.65 million previously, on advanced progress billings for ongoing projects and favourable material prices.
Revenue for 2QFY16 increased 5.6% to RM110.56 million, compared to RM104.73 million a year ago.
For the first half ended Dec 31, 2015 (1HFY16), net profit jumped 54.1% to RM31.1 million, from RM20.2 million a year ago; while revenue for 1HFY16 rose marginally to RM211.64 million, compared to RM211.03 million in 1HFY15.
Kumpulan Europlus Bhd (KEuro) slipped into the red in the third financial quarter ended Dec 31, 2015 (3QFY16) with a net loss of RM896,000, against a net profit of RM14.72 million a year ago, mainly due to the reversal of interest income earned on placement of borrowed funds in excess of borrowings, and lower share of results in associates.
Revenue for 3QFY16, however, jumped more than 85-fold to RM149.88 million, from RM1.76 million in 3QFY15, largely due to the construction revenue recognised in the current quarter, pursuant to IC Interpretation 12 (IC12) service concession arrangements pertaining to the West Coast Expressway (WCE) highway project.
For the nine-month period ended Dec 31, 2015 (9MFY16), net profit plunged 59.9% to RM25.02 million, from RM62.4 million; while its revenue surged 53 times to RM374 million, from RM7.04 million in 9MFY15.
Property developer and private education provider Paramount Corp Bhd's net profit for the fourth quarter ended Dec 31, 2015 (4QFY15) rose 47.6% year-on-year (y-o-y) to RM14.9 million, from 10.1 million, mainly due to higher progressive billings registered on its Sekitar26 Business, a Shah Alam development.
A net provision of RM3.8 million on impairment of investment properties recorded in 4QFY14, also helped boost its latest quarterly results, its bourse filing today showed.
Revenue for 4QFY15, however, decreased 6% to RM148 million, from RM157.7 million a year ago, mainly due to the cessation of external construction activities and lower progressive billings registered on its development projects in Shah Alam and Cyberjaya.
Paramount also proposed a single tier final dividend of 5.75 sen per share for FY15, subject to shareholders' approval at the forthcoming annual general meeting.
For the full year (FY15), net profit increased by 8.3% y-o-y to RM67.7 million, from RM62.5 million a year ago, as revenue grew 12.9% to RM576 million, from RM510 million, with higher revenue contributions from both the property and education divisions.
ECM Libra Financial Group Bhd suspended the trading of its shares today, after receiving a potential mandatory general offer (MGO) notification from its largest shareholder Lim Kian Onn.
In a separate filing to the bourse, ECM Libra announced that notification of the potential MGO came after a conditional share sale agreement was signed yesterday (Feb 23) for 74.19 million shares in ECM Libra.
The vendors are Amcorp Group Bhd, Hikkaya Jaya Sdn Bhd, Arab-Malaysian (CSL) Sdn Bhd and Equity Vision Sdn Bhd, while the purchaser is Truesource Sdn Bhd.
Penang-based property development and real estate investment group Aspen Group is planning a reverse takeover of ceramic and homogeneous tiles maker Yi-Lai Bhd, which will see the latter branching out into property development.
According to a bourse filing today, Yi-Lai said it has entered into a heads of agreement (HoA) with Aspen Vision Group Sdn Bhd and Setia Batu Kawan Sdn Bhd (Setia Batu Kawan), to acquire Aspen Vision All Sdn Bhd for RM550 million.
Negeri Sembilan property developer Matrix Concepts Holdings Bhd saw its net profit fall 34.8% to RM36.84 million or 6.7 sen a share for the fourth quarter ended Dec 31, 2015 (4QFY15/16), from RM56.53 million or 12.4 sen a share a year ago, due to decrease in revenue recognition from sales of industrial properties, as well as land sales.
Revenue also dropped 6.3% to RM141.53 million, from RM151.03 million in 4QFY14.
Despite posting weaker results for 4QFY15/16, the group declared a fourth interim dividend of 3.75 sen per share, totalling RM20.6 million for FY15/16, payable on April 8.
For the 12-month period, net profit was up 17% at RM213.22 million or 42.6 sen a share, from RM182.24 million or 39.9 sen a share a year ago, while revenue rose 17.1% to RM700.95 million, from RM598.84 million in the previous year.
http://www.theedgemarkets.com/my/article/sime-darby-tm-cliq-energy-karex-mbsb-petgas-parkson-ccm-th-heavy-mbm-resources-protasco