-->

Type something and hit enter

On

 KUALA LUMPUR (Sept 28): Based on corporate announcements and news flow today, stocks that are likely to be in focus tomorrow (Tuesday) might be as follows: Kanger International Bhd, Hiap Teck Venture Bhd, Kim Loong Resources Bhd, Yinson Holdings Bhd, UOA Development Bhd, UOA REIT, Bintai Kinden Corp, VS Industry Bhd and LKL International Bhd.

Kanger International Bhd’s chairman Datuk Paduka Sharipah Hishmah Syed Hassan resigned from her post effective today. Johor Umno deputy chief Datuk Nur Jazlan Mohamed will replace her. Sharipah had resigned due her other personal commitments. She was previously non-executive director, before being made its chairman on June 8,2015.

Hiap Teck Venture Bhd’s net profit for the fourth quarter ended July 31,2020 (4QFY20) fell 65% to RM10.29 million, from RM29.56 million a year earlier. Revenue declined 32% to RM210 million. The weaker results were due to lower sales volume as a result of the MCO.

The net profit was however more than double the RM4.92 million posted in 3QFY20 on higher sales, following the implementation of the MCO and higher share from its share of a joint venture. Revenue was up 27.72% q-o-q from RM164.59 million.

For FY20 as a whole, net profit slumped 83.06% to RM4.29 million — a three year low — from RM25.30 million in FY19. Revenue dropped 21% to RM932.87 million (below RM1 billion for the first time since FY05), from RM1.19 billion in FY19.

Kim Loong Resources Bhd’s net profit for the second quarter ended July 31 jumped 218% to RM33 million, from RM10.41 million a year earlier. Revenue rose 54% to RM237.98 from RM154.32 million. This followed higher fresh fruit bunch selling prices and production, combined with crude palm oil prices. The group declared an interim dividend of four sen.

Half year net profit more than doubled to RM56.06 million, from RM24.92 million a year ago, with revenue up 36% to RM439.34 million.

Yinson Holdings Bhd’s net profit for the second quarter ended July 31, 2020 jumped 144% to RM100.36 million, from RM41.14 million a year ago. Revenue was up 366.45% at RM995.58 million, from RM213.44 million. The group declared an interim dividend of four sen per share. The higher earnings were due to a greater contribution from the group’s engineering, procurement, construction, installation and commission (EPCIC) segment. Quarter-on-quarter, net profit was up from RM46.72 million in the first quarter, with revenue trebling from RM343.75 million.

Half year net profit grew 61.6% to RM147.07 million from RM91 million previously, as revenue jumped to RM1.34 billion from RM422.44 million.

UOA Development Bhd is selling UOA Corporate Tower in Bangsar South to its 75.66%-owned UOA REIT for RM700 million. UOA Development shareholders will receive a special dividend of one sen per share from the transaction. Of the proceeds, UOA Development will be using  RM646 million to fund the development of its properties; RM32.26 million as working capital and RM21.24 million for the special dividend. The sale is subject to shareholder approval at an EGM.

UOA REIT will be financing RM278 million of the purchase consideration via private placement and RM352 million of the building’s price tag via its RM422 million five-year revolving credit facility.

Bintai Kinden Corp Bhd signed an MoU with Institut Jantung Negara Sdn Bhd (IJN) to explore possible collaboration for the commercial development of Covid-19 vaccine in Malaysia, based on the former’s existing partnership with US-based Generex Biotechnology Corp.

VS Industry Bhd’s net profit for the fourth quarter ended July 31,2020 fell by 3.81% to RM54.12 million, from RM56.26 million a year ago. Revenue slipped 14.98% to RM882.61 million, from RM1.04 bullion. Compared with the preceding quarter, the group returned to the black from a RM19.53 million net loss, with revenue rising by 74.55% from RM505.66 million.

FY20 net profit was down 29.95% at RM115.86 million, from RM165.39 million last year. Revenue was down 18.48% to RM3.24 billion, from RM3.98 billion.

LKL International Bhd’s net profit for the first quarter ended July 31,2020 leaped to RM1.24 million, from RM124,000 a year ago. Revenue more than doubled to RM19.28 million, from RM9.35 million. The group also announced that it would be purchasing 60% of dialysis equipment player  Tahmaz Meditech Sdn Bhd for RM12 million, which will be paid for via an issuance of RM12 million new LKL shares at RM1 apiece — issued to Tahmaz Meditech’s owners.

https://www.theedgemarkets.com/article/kanger-hiap-teck-kim-loong-yinson-uoa-development-uoa-reit-bintai-kinden-vs-industry-and-lkl

Back to Top
Back to Top