-->

Type something and hit enter

Pages

Singapore Investment


On

KUALA LUMPUR (Feb 27): Based on corporate announcements and newsflow today, stocks in focus on Tuesday (Feb 28) may include: Sime Darby, Sunway, Destini, Titijaya, Aeon Co, UMW Holdings, MRCB, 7-Eleven, Press Metal, Media Chinese Int'l, Lay Hong and Kerjaya Prospek.

Sime Darby Bhd's net profit for the second quarter ended Dec 31, 2016 (2QFY17) more than doubled to RM644 million from RM285 million a year ago, on stronger crude palm oil prices and improved production of fresh fruit bunches.

Revenue was up 4.3% at RM12.34 billion from RM11.83 billion a year ago.

The group declared a dividend of 6 sen per share, to be paid on May 5.

Meanwhile the group plans to float its property and plantation divisions separately on Bursa Malaysia via share distribution to its shareholders.

There won't be new shares issued for sale in the listing of the two divisions, which is expected to take place early next year.

Sunway Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) dropped 13% to RM185.84 million from RM214.69 million, on lower contributions from local construction projects. Quarterly revenue slid to RM1.36 billion from RM1.4 billion.

For its full year ended Dec 31, 2016 (FY16), net profit declined 20% to RM585.91 million from RM732.45 million a year ago, though revenue grew 6.2% to RM4.73 billion from RM4.45 billion.

Its property development segment's unbilled sales stood at RM1.5 billion as at Dec 31, 2016, which it said will provide earnings visibility for the division over the next one to two years.

Destini Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) grew 26% to RM11.99 million from RM9.53 million a year ago, with higher demand for its maintenance, repair and overhaul and shipbuilding services. Revenue climbed almost in tandem by 27% to RM115.44 from RM90.86.

For its full year, Destini's net profit climbed 57% to RM33 million from RM21.08 million in FY15, as revenue gained 31% to RM354.43 million from RM270.06 million.

Property developer Titijaya Land Bhd, which is buying a company that owns three plots of leasehold land in Sabah measuring 75.44 acres for RM70.9 million, is partnering China Railway Engineering Ltd to jointly develop a mixed-use project on one of the plots.

The project, with an estimated gross development value of RM575 million, will be built on a 1.82-acre tract on one of the plots it is buying, which is in Kota Kinabalu's city centre.

The project, The Shore, will be 25 stories tall and comprise 561 units in built-ups ranging from 409 sqft to 541 sqft, with price tags starting from RM453,000.

AEON Co (M) Bhd's net profit slid 31% to RM26.5 million from RM38.3 million in the previous year's corresponding quarter, mainly on higher operating costs, new store expenses and higher interest expense.

Revenue for the quarter, however, grew 5% to RM1.02 billion from RM975.67 million, due mainly to improved property management service contributions from its new shopping malls, and higher retail turnover from new stores.

Full-year net profit fell 40% to RM79.7 million from RM133.4 million a year ago, again due mainly to higher operation costs and interest expense, and initial costs associated with new stores and malls openings. Revenue, meanwhile, grew 5% to RM4.04 billion from RM3.83 billion.

The group declared an interim single tier dividend of three sen per share, to be paid on a date to be fixed.

UMW Holdings Bhd's net loss widened to RM1.57 billion for the fourth quarter ended Dec 31, 2016 (4QFY16), from RM284.29 million a year earlier, on continued losses in its oil and gas businesses.

Revenue fell 27% to RM3.1 billion from RM4.2 billion because of an overall soft demand in the automotive industry, low oil prices and depreciating ringgit.

For the full financial year, UMW suffered a second net loss in a row, totalling RM1.69 billion versus RM37.17 million in FY15, as revenue for FY16 shrank by 67% to RM10.97 billion from RM14.44 billion.

Malaysian Resources Corp Bhd (MRCB)'s net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) jumped 7 times to RM188.1 million from RM26.8 million in the corresponding quarter a year ago, mainly due to the disposal of assets.

It recognised a gain of RM144.9 million from the sale of Menara Shell, and RM56.1 million from the sale of a leasehold land to Mass Rapid Transit Corp Sdn Bhd during the quarter.

Correspondingly, quarterly revenue grew 166% to RM1.03 billion from RM388.2 million previously.

The directors recommended a first and final single tier dividend of 2.75 sen per share for FY16, compared to 2.5 sen in FY16.

Full FY16 net profit, however, fell 19% to RM267.4 million from RM330.4 million in FY15.

Though revenue gained 42% to RM2.41 billion — its highest in 10 years — from RM1.7 billion, operating expenses grew almost in tandem to RM2.17 billion from RM1.54 billion. Income tax expense also ballooned to RM73.53 million from RM6.08 million.

7-Eleven Malaysia Holdings Bhd's net profit fell 32% to RM9.52 million in its fourth quarter ended Dec 31, 2016 (4QFY16), from RM13.94 million in the previous year's corresponding period, due mainly to higher selling and distribution expenses from new store expansion.

The minimum wage increase that took effect on July 1 last year also impacted earnings.

Revenue, however, grew 5% to RM523.61 million from RM499.74 million with more new stores, improved merchandise mix and consumer promotion activity.

It will be paying 4.7 sen dividend, comprising an interim dividend of 2.3 sen and a special dividend of 2.4 sen for the year, on a date to be announced.

For its full year, net profit slid 7% to RM52.17 million from RM55.8 million in FY15, though revenue grew 5% to RM2.1 billion from RM2.01 billion.

Press Metal Bhd's net profit in the fourth financial quarter ended Dec 31 (4QFY16) surged 240% to RM131.78 million from RM38.8 million a year earlier, thanks to higher smelter output and improved London Metal Exchange (LME) prices.

Revenue in 4QFY16 rose to RM2 billion from RM1.39 billion a year ago.

The group declared a fourth interim dividend of 1.5 sen per share for FY16, to be paid on March 28.

Press Metal said the additional output was contributed by the Samalaju Phase 2 smelting plant, which was ramped up to full capacity in the quarter under review.

For the full year ended Dec 31, 2016 (FY16), Press Metal's net profit more than tripled to RM495.45 million from RM132.35 million a year earlier, as revenue grew 53% to RM6.61 billion from RM4.32 billion.

Media Chinese International Ltd's net profit for the third quarter ended Dec 31, 2016 (3QFY17) fall by 44.1% to RM18.7 million, from RM33.4 million a year earlier, as its publishing and printing segment was affected by lower advertising spending.

Revenue for the quarter declined 11.1% to RM322.7 million from RM363.1 million in 3QFY16.

For the first nine months of the financial year 2017 (9MFY17), Media China's net profit fell by 40% to RM64.3 million from RM107.2 million in 9MFY16.

Revenue also fell by 13.7% to RM1.08 billion in 9MFY17 from RM1.25 billion in 9MFY16.

Higher revenue mainly from the integrated livestock farming segment lifted Lay Hong Bhd's net profit for its third financial quarter ended Dec 31, 2016 (3QFY17) by 107.7% to RM8.61 million, from RM4.15 million a year earlier.

Revenue increased 5.1% to RM171.68 million from RM163.38 million in 3QFY16, with the integrated livestock farming segment contributing RM139.82 million, up 7.2% from RM130.46 million previously.

The higher revenue was due to the higher quantity of eggs and higher volume of further processed products sold in 3QFY17.

For the cumulative nine months of FY17 (9MFY17), Lay Hong posted net profit of RM12.57 million, down 17.7% from RM15.28 million in 9MFY16, though revenue rose 3.9% to RM501.61 million from RM482.68 million.

Kerjaya Prospek Group Bhd has posted a fivefold increase in net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) after consolidating results from two subsidiaries that were acquired in January 2016.

The construction and property development firm's net profit rose to RM26.22 million from RM4.76 million in 4QFY15, while revenue swelled by more than 11 times at RM235.49 million from RM18.6 million.

For the full FY16, net profit jumped by 519% to RM99.97 million from RM16.14 million in FY15, as revenue climbed to RM805.37 million from RM78.97 million.



http://www.theedgemarkets.com/en/article/sime-darby-sunway-destini-titijaya-aeon-co-umw-holdings-mrcb-7-eleven-press-metal-media
Back to Top