KUALA LUMPUR (May 30): Based on corporate announcements and news flow today, companies that will be in focus on Wed (May 31) may include the following: Supermax, Stone Master, DRB, Barakah, Panasonic, Karex, Utusan, Damansara Realty, AZRB, Ekovest, Padini, Malton, CAB, Perstima, Wah Seong, Mudajaya and MYEG.
Supermax Corp Bhd reported a third quarter net profit of RM19.75 million as revenue rose on higher rubber glove output and average selling prices, besides a weaker ringgit versus the US dollar.
Supermax said there were no comparative figures from a year earlier, as it had changed its financial year-end from Dec 31 to June 30.
Supermax said revenue stood at RM308.23 million in the third quarter ended March 31, 2017 (3QFY17). The group declared a dividend per share of 2.5 sen, to be paid to shareholders this July 28.
Stone Master Corp Bhd says it does not recognise any extraordinary general meeting (EGM) that was held today at the Hotel Sheraton Imperial Kuala Lumpur.
The meeting was convened by executive director and vice president Datuk Karen Lee Fong Yin, who is also Stone Master's largest shareholder with a 22.29% stake, to remove group managing director Datuk Koh Mui Tee and executive director Datuk Lee Hwa Cheng.
"The company does not recognise any board meeting and resolution that the alleged new board may hold, and the company does not recognise any new company secretary or announcement that may be made by the alleged new board," it said.
DRB-Hicom Bhd announced a substantially lower net loss of RM328.45 million or 16.99 sen a share for the fourth financial quarter ended March 31, 2017 (4QFY17), 58% lower than the RM790.76 million or 40.9 sen a share it recorded in the previous corresponding quarter.
Its quarterly revenue jumped 32% to RM3.48 billion from RM2.63 billion a year earlier.
The conglomerate, which last week sealed a deal to sell a 49.9% stake in Proton Holdings Bhd, attributed the revenue growth to higher sales revenue by all business sectors of the group.
Barakah Offshore Petroleum Bhd sank into a net loss of RM4.6 million in its first quarter ended March 31, 2017 (1QFY17) from a net profit of RM1.27 million a year ago, mainly due to a decrease in revenue from its installation and construction services (ICS) segment.
Revenue fell 26% to RM76.84 million from RM103.34 million in the previous year's corresponding quarter. It also posted a near 3.7 times rise in income tax expense to RM1.47 million.
Panasonic Manufacturing Malaysia Bhd's net profit fell 26% to RM26.77 million in its fourth quarter ended March 31, 2017 (4QFY17), from RM36.21 million a year earlier, amid higher raw material costs.
Revenue slid 1% year-on-year to RM247.31 million from RM249.73 million.
It is proposing to pay a final dividend of RM1.02 per share, subject to shareholders approval, compared to a payout of RM1.24 last year.
Karex Bhd sold more condoms but its net profit shrank 28.3% in the third quarter ended March 31, 2017 (3QFY17), dragged down by higher distribution expenses.
The world's largest condom maker posted net profit of RM6.9 million or 0.69 sen per share compared with RM9.63 million or 0.96 sen per share in the previous corresponding quarter.
Quarterly revenue, however, grew 4.53% to RM92.22 million from RM88.22 million a year ago due to additional sales contributed by the sexual wellness segment.
Utusan Melayu (Malaysia) Bhd's net loss narrowed to RM22.84 million in its first financial quarter ended March 31, 2017 (1QFY17), from RM26.28 million a year ago, despite lower revenue, thanks to lower costs.
Utusan said it recorded a RM9.8 million reduction in total costs during the quarter, which helped to reduce the impact of lower revenue. Revenue was down 13% to RM41.51 million, from RM47.73 million a year ago, due to a reduction in advertising revenue.
Damansara Realty Bhd's external auditor has issued a statement over a material uncertainty in the financial statements of Damansara Realty that may cast significant doubt on the company's ability to continue as a going concern.
The auditor, Messrs Jamal Amin and Partners, drew attention to Damansara Realty's financial statements for the year ended Dec 31, 2016 (FY16), when it incurred RM27 million net loss.
Ahmad Zaki Resources Bhd's (AZRB) first-quarter net profit rose 45.7% to RM6.12 million from RM4.2 million a year ago, on improved margin of construction projects, as well as the inclusion of contribution from the International Islamic University Malaysia (IIUM) Medical Centre facilities management concession.
Quarterly revenue, however, fell 19.1% to RM250.19 million from RM309.37 million, largely due to a dip in revenue of the construction division which was mitigated by higher property revenue.
Ekovest Bhd's third-quarter net profit was largely flat at RM11.06 million from RM11.08 million a year ago, mainly due to a one-off expense of RM22.62 million on recognition of fair value adjustment pursuant to the granting of the Employees' Share Option Scheme.
Ekovest said lower contribution from the preliminary and enabling work for the Setiawangsa-Pantai Expressway (SPE) has also resulted in lower profit in the three months ended March 31, 2017 (3QFY17).
Quarterly revenue rose 57.9% to RM291.75 million in 3QFY17 from RM184.77 million in 3QFY16, mainly due to the commencement of preliminary and construction work for SPE.
Padini Holdings Bhd's third financial quarter's net profit fell by a marginal 0.9% to RM34.82 million or 5.29 sen a share, from RM35.13 million or 5.34 sen a share a year ago, due to lower gross profit margin and higher marketing staff costs.
This is despite quarterly revenue rising 9.2% to RM373.74 million in the third financial quarter ended March 31, 2017 (3QFY17), from RM342.37 million a year ago.
Padini also declared a fourth interim dividend of 2.5 sen per share and a special dividend of 1.5 sen per share for its financial year ending June 30, 2017 (FY17), payable on June 30.
Property developer Malton Bhd’s net profit for the third quarter ended March 31, 2017 (3QFY17) dropped 39.7% to RM3.9 million or 0.87 sen per share from RM6.5 million or 1.45 sen per share a year ago due to reduced profit from its property development segment.
Revenue for the quarter rose marginally at 0.7% to RM156.4 million compared with RM155.3 million year-on-year.
CAB Cakaran Corp Bhd’s net profit for its second quarter ended March 31, 2017 (2QFY17) rose 60.34% to RM9.92 million from RM6.19 million a year ago, thanks to massive revenue jump and higher average selling prices.
Quarterly revenue jumped 30.42% to RM349.07 million from RM267.65 million previously. The jump came amid higher sales at the integrated poultry farming and processing division and value-added food products manufacturing and trading division.
Perusahaan Sadur Timah Malaysia Bhd (Perstima)'s net profit climbed 20.6% to RM15.94 million or 16.05 sen per share for its fourth quarter ended March 31, 2017 (4QFY17), compared with RM13.22 million or 13.31 sen per share a year earlier, on the back of higher sales volume.
Quarterly revenue was up 16.3% at RM232.03 million, compared with RM199.51 million in the previous year’s corresponding quarter, due to higher sales volume coupled with higher selling price, PERSTIMA said.
The tinplate manufacturer, which has operations in Vietnam, also proposed a final single tier dividend of 20 sen per ordinary share for the financial year ended March 31, 2017 (FY17), matching the dividend issued for the previous financial year (FY16).
Wah Seong Corp Bhd registered a fourfold increase in net profit to RM9.47 million in the first quarter ended March 31, 2017 (1QFY17) after it had been loss making for three consecutive quarters as activities started to pick up in the oil and gas (O&G) segment.
The company posted net profit of RM2.36 million in the previous corresponding quarter; however, Wah Seong posted net loss of RM190.78 million in the preceding quarter ended Dec 31, 2016.
Quarterly revenue for 1QFY17 dropped 7% to RM316.77 million from RM340.88 million a year ago.
MY E.G. Services Bhd saw its third-quarter net profit rise 62.8% on higher transaction volumes from the online renewal of foreign workers’ permits, foreign workers rehiring programme services and foreign workers’ insurance from both FWP and FWR services.
MyEG also attributed the improved quarterly earnings to higher revenue contribution from its motor vehicle trading related services.
Net profit grew to RM53.9 million or 1.5 sen per share in the third financial quarter ended March 31, 2017 (3QFY17) from RM33.1 million or 0.9 sen per share in 3QFY16.
Quarterly revenue increased 41.5% to RM99.22 million from RM70.13 million a year ago.