KUALA LUMPUR (Aug 23): Based on corporate announcements and news flow today, companies in focus next Monday (Aug 26) could include DRB-Hicom Bhd, Boustead Heavy Industries Corp Bhd, Dayang Enterprise Holdings Bhd, Pharmaniaga Bhd, Petronas Dagangan Bhd and Malaysia Airports Holdings Bhd.
DRB-Hicom Bhd, whose share price soared to a 19-year high of RM2.95 today, posted a net profit of RM46.21 million for the three months ended June 30, 2019, versus a net loss of RM66.59 million in the same period a year earlier.
Quarterly revenue jumped 29% to RM3.44 billion from RM2.65 billion in the previous year.
DRB-Hicom attributed the better performance to improved sales in the automotive sector and expects the segment to remain resilient, supported by Proton’s improved models and new models by other marques in its portfolio.
Boustead Heavy Industries Corp Bhd (BHIC) saw its net profit contract 59% year-on-year in the second quarter of financial year 2019 (2QFY19) despite higher revenue, following lower contributions from joint venture (JVs), higher finance costs, and as negative contributions from associates widened.
Net profit for the quarter that ended June 30, fell to RM2.94 million from RM7.22 million, which pushed earnings per share down to 1.18 sen from 2.9 sen. Revenue was up 10% at RM53.93 million versus RM49.16 million previously.
Share of BHIC's JV results fell 71% to RM1.85 million from RM6.49 million, while its associates' contribution widened to a loss of RM3.02 million from RM1.86 million. Finance cost, meanwhile, climbed 23% to RM4.2 million from RM3.42 million. A higher taxation of RM1.95 million versus RM377,000 previously also did not help.
Dayang Enterprise Holdings Bhd's net profit grew 42% on-year in its second quarter, thanks to higher profit margin and revenue, with lower finance costs and expenses.
As such, net profit for the quarter ended June 30, 2019 grew to RM55.09 million from RM38.85 million while revenue climbed 12% to RM247.18 million from RM221.28 million, mainly due to higher vessel use and higher work orders received and performed under the topside maintenance contracts, the group said.
Its bottomline for the quarter was also boosted by a reversal of impairment loss on property, plant and equipment of RM2.8 million, which the group booked an impairment loss allowance of RM7.1 million previously.
Pharmaniaga Bhd’s net profit for the second quarter ended June 30, 2019 (2QFY19) ballooned 72% on the back of higher demand for its products in Indonesia and a lower tax bill.
The pharmaceutical group declared a second interim dividend of 2.5 sen, compared with four sen in 2QFY18. The dividend is payable on Oct 11 and has an entitlement date of Sept 12.
This brings the group’s dividend payout for the first half of financial year ending Dec 31, 2019 (1HFY19) to 8.5 sen from 9 sen posted this time last year.
In a bourse filing, the group said 2QFY19 net profit came in at RM9.28 million versus RM5.39 million in the previous corresponding quarter.
Petronas Dagangan Bhd reported a 45% drop in its net profit to RM172.75 million for the second quarter ended June 30, 2019, from RM314.42 million in the previous year, amid lower margins for its retail and commercial operations
This was despite higher quarterly revenue of RM7.61 billion, up 4.5% from RM7.28 billion a year earlier as a result of higher contribution from both its retail and commercial segments.
Malaysia Airports Holdings Bhd (MAHB) has issued a statement to update that the situation at the Kuala Lumpur International Airport (KLIA) is "improving" as the systems outage that besieged Malaysia's key airport since Wednesday night nears the second day or 48th-hour mark.
The incident, which began on Wednesday night due to a network failure, has led the airport operator to replace its network equipment, which is now being tested and closely monitored for stability, it said in a statement.
“Since the replacement of the network equipment, we have seen positive progress in network stability. Critical systems at KLIA Main Terminal are now mostly up and running. Nevertheless, we have adopted a cautious approach and will remain vigilant as we are still experiencing some intermittent issues,” it said.