KUALA LUMPUR (May 18): Based on corporate announcements and news flow today, companies in focus tomorrow (Friday, May 19) may include: Petronas Dagangan Bhd (PetDag), Press Metal Bhd, Tambun Indah Land Bhd, JCY International Bhd, Sarawak Plantation Bhd, Landmarks Bhd, Century Logistics Holdings Bhd, MHC Plantations Bhd, Tomypak Holdings Bhd and Silk Holdings Bhd.
Petronas Dagangan Bhd (PetDag) closed its first quarter ended March 31, 2017 (1QFY17) with better net profit, up 15.4% to RM253.15 million, from RM219.4 million last year, on higher average selling price, despite lower sales volume.
Revenue during the period jumped 36.2% to RM6.69 billion, from RM4.91 billion a year ago (1QFY16).
It proposed an interim dividend of 14 sen a share, payable on June 16. The ex-date and entitlement date are on May 31 and June 2, respectively.
Press Metal Bhd’s net profit jump 56.6% to RM148.05 million in the first quarter ended March 31, 2017 (1QFY17), from RM94.56 million a year ago, mainly due to higher production output generated by its Samalaju Phase 2 smelting plant in Sarawak and improved metal price.
Quarterly revenue grew 56.7% to RM2.02 billion in 1QFY17, from RM1.29 billion in 1QFY16.
Press Metal also declared a first interim dividend of 1.5 sen per share for financial year ending Dec 31, 2017 (FY17), payable on June 21.
Tambun Indah Land Bhd will launch two new landed residential property projects with a combined gross development value (GDV) of RM122.7 million, in its Pearl City township development in Penang by mid-2017.
Pearl City is located at Simpang Ampat in Seberang Prai South.
The group said the projects are Pearl Saujana (Phase 1) and Pearl 28.
Phase 1 of Pearl Saujana which carries a GDV of RM102.7 million, features a total of 219 units of double-storey semi-detached houses and double-storey terrace houses. Meanwhile, Pearl 28 comprises 30 units of double-storey linked, semi-detached houses and double-storey bungalows, with a GDV of RM20 million.
As at March 31, 2017, Tambun Indah had ongoing projects worth RM1.5 billion in GDV, with average take-up rate of 82.7%. Unbilled sales amounted to RM153.8 million, which "should contribute positively to the group for the next two to three years", it said.
Hard disk drive manufacturer JCY International Bhd reported a net profit of RM15.41 million in its second quarter ended March 31, 2017 (2QFY17), compared with a net loss of RM6.43 million a year ago, due to favourable U.S. dollar to ringgit exchange rate in the current reporting period.
Revenue for the period however slipped 11% to RM406.66 million, from RM457.29 million in 2QFY16, due to lower sales volume and lower average selling price recorded in the reporting quarter.
The group declared a second interim dividend of 1.25 sen per share for financial year ending Sept 30, 2017, with the entitlement and payment dates to be announced later.
For the first six months of FY17 (1HFY17), JCY reported a 64% rise in net profit to RM57.48 million, from RM34.97 million in 1HFY16, though revenue fell 17% to RM819.67 million, from RM985.45 million in the previous corresponding period.
Sarawak Plantation Bhd posted a net profit of RM13.19 million in the first quarter ended March 31, 2017 (1QFY17), versus a net loss of RM756,000 in the previous corresponding quarter, on higher sales volume of crude palm oil (CPO) and palm kernel (PK).
Revenue increased 77% to RM109.63 million, from RM62.07 million a year ago (1QFY16).
Landmarks Bhd, a 30.3% associate of Genting Bhd, narrowed its net loss to RM3.35 million in the first quarter ended March 31, 2017 (1QFY17), from RM6.59 million a year ago, on improved performance from its hospitality and wellness, and resort and destination development divisions.
Quarterly revenue meanwhile rose 12.5% to RM26.91 million, from RM23.92 million in 1QFY16.
Century Logistics Holdings Bhd posted a 9% rise in net profit to RM4.85 million in the first quarter ended March 31, 2017 (1QFY17), versus RM4.46 million a year ago, on higher contribution from its total logistics services segment.
Revenue was up 2% to RM71.03 million, from RM69.54 million a year ago (1QFY16), on higher activities from the same segment.
A jump in overall prices of palm-oil related products saw MHC Plantations Bhd returning to the black with a net profit of RM4.67 million in its first financial quarter ended March 31, 2017 (1QFY17), from a net loss of RM227,000 a year ago.
Revenue jumped 55.23% to RM90.45 million, against RM58.27 million in 1QFY16.
The group has also increased FFB production by 30% during the period, and saw “an increase in efficiency of its biomass power plant in exporting electricity”, contributing to better bottom line.
Tomypak Holdings Bhd saw its net profit for its first financial quarter ended March 31, 2017 (1QFY17) surge 78.3% to RM6.26 million, from RM3.51 million a year ago, on higher demand from both its local and overseas customers, improved production cost, and lower foreign exchange losses.
This came on the back of a 5% increase in 1QFY17 revenue to RM53.92 million, from RM51.36 million in 1QFY16.
Tomypak declared a dividend of 2 sen per share to be paid on June 16, to shareholders whose names appear on the record of depositors on June 2.
Silk Holdings Bhd is planning to undertake a dividend reinvestment plan and purchase of up to 10% of its issued share capital.
Silk said the reinvestment plan would give its shareholders the option to reinvest their cash dividend in new shares, providing them with an opportunity to enhance and maximise the value of their shareholdings in the company, at a discount.
Meanwhile, the proposed share buy back will be financed by internal funds or external bank borrowings, and the sum to be used will not exceed the company’s retained earnings.
It said the plan is to stabilise the market price of the company's shares and to prevent speculation of shares, when undervalued, to enhance investors' confidence.