KUALA LUMPUR (May 30): Based on corporate newsflows and announcements today, the following stocks may draw attention in the market tomorrow (Friday, May 1): Malayan Banking Bhd (Maybank), Telekom Malaysia Bhd, Mah Sing Group Bhd, IHH Healthcare Bhd, Media Prima Bhd, Sunsuria Bhd, Malaysian Resources Corp Bhd (MRCB), DRB-Hicom Bhd, Affin Bank Bhd and Mulpha International Bhd.
Malayan Banking Bhd (Maybank) saw profit for its first quarter ended March 31, 2019 (1QFY19) drop 3.3% year-on-year (y-o-y) to RM1.80 billion, from RM1.87 billion, due to additional provisioning for clients impacted by a challenging business environment. Quarterly revenue grew to 5.86 billion, from RM5.82 billion a year earlier. Earnings per share (EPS) slipped to 16.37 sen, from 17.26 sen, with no dividend declared.
Telekom Malaysia Bhd (TM)’s net profit for the first quarter ended March 31, 2019 (1QFY19) doubled y-o-y to RM308.28 million, from RM157.16 million, due to a decline in operating cost. Quarterly revenue dropped 2.4% to RM2.78 billion, from RM2.85 billion posted in 1QFY18. EPS rose to 8.2 sen, from 4.18 sen previously.
Mah Sing Group Bhd’s 1QFY19 net profit dropped by 14.3% to RM55.01 million, from RM64.2 million a year ago, due to lower property development segment contributions. Revenue fell 23% to RM450.33 million, from RM584.76 million. EPS slid to 1.51 sen, from 1.89 sen seen in 1QFY18. The group added that it had achieved RM300.5 million in property sales for the quarter.
IHH Healthcare Bhd’s 1QFY19 net profit jumped 56.4% y-o-y to RM89.51 million, from RM57.24 million, on stronger operation performance and lower foreign exchange losses. Quarterly revenue increased by 27.6% y-o-y to RM3.64 billion, from RM2.85 billion, on sustained organic growth at existing operations or those seen at Gleneagles Hong Kong Hospital, Acibadem Altunizade Hospital, Amanjaya Specialist Centre and Fortis Healthcare. EPS increased to 0.78 in 1QFY19, from 0.44 sen last year.
Media Prima Bhd’s net loss for 1QFY19 widened to RM40.41 million, from RM21.83 million, due to declining advertising expenditure (adex) and newspaper sales. Revenue fell 14.8% to RM239.10 million from RM280.97 million, as all segments bar its home shopping segment, saw lower top-line income. Loss per share for 1QFY19 widened to 3.64 sen, from 1.97 sen last year.
Sunsuria Bhd’s second quarter ended March 31, 2019 (2QFY19) surged almost 15 times to RM91.58 million, from RM6.26 million last year, in part due to the adoption of Malaysian Financial Reporting Standards 15 (MFRS 15). Revenue for the quarter quadrupled to RM249.01 million, from RM67.37 million last year, with EPS rising to 11.46 sen, from 0.78 sen seen last year.
For the first half of its financial year (1HFY19), net profit stood at RM102.25 million versus RM3.44 million in the previous year, while revenue grew to RM331.96 million from RM117.06 million in 1HFY18.
Malaysian Resources Corp Bhd (MRCB)’s 1QFY19 net profit declined 81% to RM4.14 million, from RM21.53 million a year ago, on the deferment and re-timing of income recognition from the Light Rail Transit Line 3 (LRT3) project. Quarterly revenue went down by 45.3% to RM234.05 million, from RM427.6 million last year. EPS fell to 0.09 sen, from 0.49 sen declared previously.
DRB-Hicom Bhd saw its fourth quarter ended March 31, 2019 (4QFY19) posting a net profit of RM127.86 million, from a net loss of RM59.41 a year ago, on the back of good financial performance from all key operating companies, except for Pos Malaysia Bhd. Quarterly revenue rose 16.37% y-o-y to RM3.47 billion, from RM2.98 billion.
However, FY19 net profit declined 71.45% to RM122.87 million, from RM430.37 million, due to higher taxation of RM230.67 million, from RM91.58 million a year ago. Revenue grew 1.85% to RM12.48 billion, from RM12.25 billion in FY18.
Affin Bank Bhd’s 1QFY19 net profit declined 3% to RM137.23 million, weighed down by its commercial banking and insurance segments. Revenue declined 0.86% to RM472.52 million, from RM476.62 million.
Mulpha International Bhd’s 1QFY19 net profit doubled to RM69.24 million, from RM32.43 million, on the back of better earnings from its hospitality and investment division, with its property segment moderating bottom line growth. Quarterly revenue declined 19.40% to RM146.55 million, from RM181.82 million last year, due to poorer performance in its property and hospitality divisions.