KUALA LUMPUR (April 21): Based on corporate announcements and news flow today, companies in focus tomorrow (Friday, April 22) may include: Maxis, Malakoff, Bumi Armada, IHH, Aeon Credit, Compugates, Eversendai, TMC Life Sciences and AmFirst REIT.
Maxis Bhd reported a 26% increase in first quarter net profit at RM518 million from a year earlier, on lower operating cost and rise in postpaid telecommunication revenue.
In a filing to Bursa Malaysia, Maxis said net profit rose to RM518 million in the first quarter ended March 31, 2016 (1QFY16), from RM410 million the year before. Group revenue fell to RM2.14 billion, from RM2.15 billion.
Maxis declared a tax-free dividend of five sen a share for the quarter under review, payable on June 29. The dividend ex-date falls on May 27 this year.
Malakoff Corp Bhd has allocated RM900 million in capital expenditure (capex) for its expansion plans this year, of which RM700 million has been earmarked for the new 1,000MW Tanjung Bin Energy power plant.
Malakoff acting chief executive officer (CEO) Habib Husin said the group is eyeing opportunities for expansion both domestically and overseas, to meet the group's targeted capacity of 10,000MW by 2020.
He said while there are opportunities for repowering and expansion domestically, the company is also looking at opportunities in South East Asia, developed markets, Middle Eastern and North African regions.
Malakoff chairman Tan Sri Syed Anwar Jamalullail noted that the group's gearing, at about 2.3 times, is still low, allowing some room to raise further funding for capex.
Bumi Armada Bhd is claiming US$283.7 million (RM1.1 billion) from Australia-based Woodside Energy Julimar Pty Ltd for the termination of its RM1.46 billion charter contract for the Armada Claire floating production storage and offloading (FPSO) unit.
The sum comprises US$275.81 million as termination payment, and US$7.7 million for work done and materials supplied pursuant to the contract, according to Bumi Armada.
The claims were made in a statement of claim filed and served in the Supreme Court of Western Australia against Woodside today, following the writ of summons that was filed last month.
IHH Healthcare Bhd's indirect 59.6%-owned Turkish entity, Acibadem Saglik Hizmetleri Ve Ticaret AS, plans to acquire Bulgaria's largest healthcare provider, Tokuda Group, and merge with the Bulgarian City Clinic Group, in a cumulative deal amounting to RM437.3 million.
The transactions will lead to the creation of the largest private healthcare provider in Bulgaria, IHH said.
For the first deal, Acibadem has entered into a share purchase agreement (SPA) with vendor Dr Torao Tokuda and Tokushukai Inc for the sale and purchase of 100% Tokushukai-Sofia EOOD's common company stock at a cost of €65 million (RM286.13 million).
In the second deal involving the merger with City Clinic Group, IHH said Acibadem and Clinical Hospital Acibadem Sistina Skopje, a 30%-indirect subsidiary of IHH, entered into a share sale purchase agreement with 11 entities and individuals, to buy the share capital of City Hospitals and Clinics AD (City Clinic Group).
It will pay EUR10.97 million (RM48.3 million) to shareholders who are cashing out, and allocate shares equivalent to EUR23.37 million (RM102.87 million) or 23.5% in the SPV that it incorporates, to undertake the merger to shareholders who will take part in the merged entity (roll-over sellers).
Pursuant to the transactions, Acibadem SPV will fully own the City Clinic Group, while IHH's effective interest in Acibadem SPV will be 41.2%.
The deals are expected to be completed in three months.
Aeon Credit Service (M) Bhd recorded a net profit of RM68.13 million or 45.08 sen per share on revenue of RM258.29 million in the fourth quarter ended Feb 29, 2016 (4QFY16).
In a filing with Bursa Malaysia, Aeon Credit said for the full financial year 2016 (FY16), it recorded a net profit of RM228.22 million or 149.02 sen per share on revenue of RM965.23 million.
The company did not provide comparative year-on-year figures, as it had changed its financial year end to Feb 28, from Feb 20.
However, Aeon Credit said it had recorded a 10.74% and 5.79% growth in revenue and net profit respectively, in FY16.
The company recorded a profit before tax (PBT) of RM90.55 million in 4QFY16, up 22.33% from the previous corresponding quarter ended Feb 20, 2015 (4QFY15); while FY16 PBT stood at RM301.59 million, up 4.26% from FY15.
It also recorded a 14.1% increase in revenue to RM258.29 million in 4QFY16, compared to 4QFY15.
Compugates Holdings Bhd’s 70%-owned subsidiary, Compugates Development and Mining Sdn Bhd, plans to dispose of a piece of land in Dengkil, Selangor, to Bangsawan Bumimaju Sdn Bhd for RM62.12 million.
The land measures 25.09 hectares and is designated for agricultural use, with a net book value of RM3.76 million as at Dec 31, 2015. Its market value stands at RM60 million, as appraised by Irhamy and Co Chartered Surveyors Sdn Bhd.
Eversendai Corp Bhd's wholly-owned subsidiary Eversendai Energia Sdn Bhd (EESB) is being sued by Poratha Corporation Sdn Bhd (PCSB), which is claiming RM7.45 million and 5% interest for flue gas desulfurization (FGD) ducting, miscellaneous piping works, firefighting piping works and other incidental costs.
Eversendai said EESB has today received a signed and sealed writ summons and statement of claim dated April 15, 2016 from Messrs Sandosh Anandan, acting for PCSB.
The construction company added that EESB has a very good defence against PCSB, and that the case management has been fixed on May 16, 2016 at 9.00 a.m. at the Shah Alam High Court.
TMC Life Sciences Bhd’s net profit rose 12.7% to RM3.28 million in its third financial quarter ended Aug 31, 2016 (3QFY16), from RM2.91 million in 3QFY15, mainly due to higher recorded revenue and interest income earned.
Revenue for 3QFY16 jumped 18.8% to RM31.39 million from RM26.41 million in the previous corresponding quarter, mainly due to higher patient load with increased bed capacity, additional consultants recruited and higher growth in its fertility business.
For the cumulative nine months ended Aug 31, 2016 (9MFY16), its net profit climbed 60% to RM9.51 million, from RM5.94 million a year ago, while revenue jumped 24.2% to RM92.79 million, from RM74.68 million.
The company said it plans to open a new TMC Fertility Centre branch in Ipoh and a retail pharmacy in Johor Bahru, during the financial period ending Aug 31, 2016.
AmFirst Real Estate Investment Trust (AmFirst REIT) saw its net property income rise 4.79% on year to RM16.49 million for the fourth quarter ended March 31 (4QFY16), from RM15.74 million a year ago, although revenue declined slightly.
In a filing with Bursa Malaysia, AmFirst REIT said revenue decreased a mere 0.08% to 26.03 million, compared with RM26.05 million in 4QFY15.
AmFirst REIT said distributable income per unit rose to 3.07 sen per unit in financial year 2016 (FY16), from 2.44 sen per unit in FY15.
Net profit for FY16 declined 8.3% to RM61.09 million, from RM66.62 million in FY15. This coincides with a 6.64% drop in revenue to RM99.79 million, from RM106.89 million, mainly due to lower occupancy rates at Prima 9 and Menara AmBank, coupled with rental reduction accorded to tenants of the Summit Retail Podium and Summit Hotel, due to a temporary business disruption by the ongoing refurbishment works.
On prospects, AmFirst REIT said it expects to deliver a moderate performance for FY17. It also said the refurbishment of The Summit Retail Podium has been delayed and is expected to complete by 2QFY17.
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