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KNM, MYEG, Freight Management, Axiata, Digi, Petron, MPI, Opcom, Aeon, CMSB, Favelle Favco, Microlink, Panasonic, OCK, IOI Corp and D&O

KUALA LUMPUR (Nov 24): Based on corporate announcements and news flow on Wednesday, companies in focus on Thursday (Nov 25) may include: KNM Group Bhd, MY EG Services Bhd (MYEG), Freight Management Holdings Bhd, Axiata Group Bhd, Digi.Com Bhd, Petron Malaysia Refining and Marketing Bhd, Malaysian Pacific Industries Bhd (MPI), Opcom Holdings Bhd, Aeon Co (M) Bhd, Cahya Mata Sarawak Bhd (CMSB), Favelle Favco Bhd, Microlink Solutions Bhd, Panasonic Manufacturing Malaysia Bhd, OCK Group Bhd, IOI Corp Bhd and D&O Green Technologies Bhd.

KNM Group Bhd posted a net loss of RM32.51 million in the third quarter ended Sept 30, 2021 compared with a net profit of RM10.56 million in the immediate preceding quarter, despite a higher revenue of RM326.38 million against RM245.98 million, mainly due to higher deliveries of process equipment projects in the current quarter from the Europe segment. The oil and gas equipment services group noted this was mainly due to the unrealised foreign exchange loss and higher finance costs for certain construction projects of the group that had been expensed off into the income statement in the quarter under review.

MY EG Services Bhd (MYEG) has inked a memorandum of understanding with A Tech Insure Sdn Bhd to provide Malaysian civil servants a platform to purchase motor vehicle takaful coverage, together with road tax renewals, by way of an interest-free Shariah-compliant Qard loan facility via instalment payments through salary deduction plan of up to 10 months. MYEG will operate and maintain an electronic platform to process all online applications submitted by civil servants for motor vehicle takaful purchases and road tax renewals, while A Tech Insure will process each online renewal to ensure eligibility and secure repayments via salary deductions. The company said that the MoU is expected to contribute positively to the earnings per share and net assets per share of the company for its FY2021.

Freight Management Holdings Bhd's net profit for the first quarter ended Sept 30, 2021 rose 78.78% to RM10.28 million from RM5.75 million a year earlier, mainly due to improved performances from both Malaysian and overseas operations. Earnings per share increased to 1.84 sen from 1.03 sen. Quarterly revenue was up 43.61% to RM213.52 million from RM148.68 million, on higher freight rates and business activities.

Axiata Group Bhd and Digi.Com Bhd said its subsidiaries Celcom Axiata Bhd and Digi Telecommunications Bhd’s merger application for the proposed merger of their mobile telecommunications network operations have been formally received by the Malaysian Communications and Multimedia Commission (MCMC), according to Digi and Axiata’s Bursa Malaysia filings on Wednesday (Nov 24). Digi.Com and Digi Telecommunications have engaged the MCMC to initiate the merger assessment process in accordance with the MCMC's guidelines on mergers and acquisitions, the filings said. Meanwhile, Digi has announced on its website that it will be shuttering its 3G network by Dec 31, 2021.

Petron Malaysia Refining and Marketing Bhd’s net profit fell 66.28% to RM32.93 million for the third quarter ended Sept 30, 2021, from RM97.64 million a year ago, due to prolonged restrictions under the Full Movement Control Order, followed by the National Recovery Plan, causing its sales volume to drop 21% to 6.1 million barrels, from 7.7 million barrels sold during the same quarter last year. Quarterly revenue rose 30.2% to RM2.19 billion, from RM1.68 billion a year ago. No dividend was declared for the quarter.

Malaysian Pacific Industries Bhd (MPI)’s net profit rose 47.69% to RM81.68 million for the first quarter ended Sept 30, 2021, from RM55.31 million a year earlier, due to higher revenue across all segments and effective cost management. Earnings per share rose to 41.17 sen, from 28.05 sen. Quarterly revenue jumped 32.67% to RM584.52 million from RM440.59 million in the same quarter last year, with the Asia, USA and Europe segments growing by 30%, 31% and 43% respectively. An interim dividend of 10 sen per share was declared for the quarter, payable on Dec 23.

Opcom Holdings Bhd's net profit in the second quarter ended Sept 30, 2021 jumped over three-fold to RM2.53 million against RM727,000 a year earlier on higher revenue. Quarterly revenue went up by 25.82% to RM22.17 million from RM17.62 million, supported by higher sales of fibre optic cables, thixotropic gel, fibre reinforced plastics, engineering services and industrial materials.

Aeon Co (M) Bhd has posted a net loss of RM18.67 million for the third quarter ended Sept 30, 2021 — after four consecutive profitable quarters throughout the pandemic — compared with a quarterly net profit of RM16.36 million a year ago, while there was a loss per share of 1.33 sen versus earnings per share of 1.17 sen previously. Quarterly revenue suffered a 24.2% decline to RM750.56 million, from RM989.62 million a year ago.

Cahya Mata Sarawak Bhd's (CMSB) net profit for the third quarter ended Sept 30, 2021 grew 15.35% to RM53.88 million from RM46.71 million in the same period last year, on the back of higher contributions from its associates. Quarterly revenue declined 17.93% to RM185.87 million, from RM226.48 million, due to a hike in Covid-19 cases during the reporting quarter, while businesses in 3QFY20 were in full operation after the first Movement Control Order was lifted. Earnings per share rose to 5.02 sen from 4.35 sen.

Favelle Favco Bhd’s net profit more than doubled to RM10.38 million for the third quarter ended Sept 30, 2021, from RM4.12 million in the previous year’s corresponding quarter, amid a small 4% increase in quarterly revenue to RM135.59 million, from RM130.41 million a year earlier. The group also saw a lower share of loss from associates and a lower tax expense during the quarter.

Microlink Solutions Bhd has secured a three-year RM35.1 million contract from the Road Transport Department (JPJ) Malaysia to develop an open system platform for the Automatic Awareness Security System (AwAS), and to provide technical support for it.

Panasonic Manufacturing Malaysia Bhd's net profit for the second quarter ended Sept 30, 2021 dropped significantly to RM2.66 million, from RM40.04 million a year earlier, as its manufacturing activities were disrupted by the Movement Control Order restrictions. Quarterly revenue declined 51.79% to RM141.73 million, from RM293.96 million, amid rising cost of materials and lower share of profit from its associate company. An interim dividend of 15 sen per share was declared, to be paid on Jan 21.

OCK Group Bhd's net profit fell 23.44% to RM5 million for the third quarter ended Sept 30, 2021, from RM6.53 million a year earlier, following a drop in operating profit. Earnings per share fell to 0.47 sen from 0.68 sen, while quarterly revenue increased slightly by 1.26% to RM118.71 million, from RM117.24 million in the same quarter last year, mainly due to a higher revenue contribution from Green Energy and Power Solution and Trading.

IOI Corp Bhd reported a marginally lower net profit of RM277.6 million for the first quarter ended Sept 30, 2021, from RM277.9 million in the previous year’s corresponding quarter, due to a foreign currency translation loss recorded during the quarter, while revenue increased 47% to RM3.63 billion, from RM2.48 billion a year earlier. It attributed the growth to higher contribution from all segments.

D&O Green Technologies Bhd’s net profit increased 26% to RM18.6 million for the third quarter ended Sept 30, 2021, from RM14.73 million a year earlier, which it attributed to strong demand for automotive LED. Quarterly revenue for the quarter increased 10% to RM174.57 million, from RM158.86 million.


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