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SMEPLT, MISC, Pharmaniaga, ELK-Desa, KAB, NCT Alliance, DSONIC, SunCon, BToto, DPharma, DRB-Hicom, MFCB, KNM and FPI

KUALA LUMPUR (Nov 18): Based on corporate announcements and news flow on Thursday, companies in focus on Friday (Nov 19) may include: Sime Darby Plantation Bhd, MISC Bhd, Pharmaniaga Bhd, ELK-Desa Resources Bhd, Kejuruteraan Asastera Bhd (KAB), NCT Alliance Bhd, Datasonic Group Bhd, Sunway Construction Group Bhd's (SunCon), Berjaya Sports Toto Bhd (BToto), Duopharma Biotech Bhd, DRB-Hicom Bhd, Mega First Corp Bhd, KNM Group Bhd and Formosa Prosonic Industries Bhd.

Sime Darby Plantation Bhd said its third quarter ended Sept 30, 2021 net profit more than tripled to RM635 million from RM190 million a year earlier, driven by stronger performance at the upstream segment, which compensated for the decline in profits contributed by the group’s downstream operations at a time when the company contended with a Covid-19 pandemic-driven labour shortage at its Malaysian upstream oil palm operations. Its revenues rose to RM5.06 billion in the quarter from RM3.18 billion. No dividend was declared for this quarter.

MISC Bhd booked a 55% year-on-year jump in net profit of RM401 million for the third quarter ended Sept 30, 2021 from RM258.3 million on the back of higher revenue. Its revenue for the quarter rose to RM2.69 billion from RM2.06 billion. Earnings per share jumped to nine sen from 5.8 sen. A dividend of seven sen per share was declared in respect of FY21, amounting to RM312.5 million, to be paid on Dec 14.

Pharmaniaga Bhd will be supplying Sinovac Covid-19 vaccine booster doses to designated private hospitals and clinics soon, following the conditional approval of the Drug Control Authority. Its MD Datuk Zulkarnain Md Eusope said the vaccine will be available at selected private hospitals and clinics as an option for individuals who wish to have the Sinovac Covid-19 vaccine booster dose for themselves, adding that the booster dose had been approved for individuals aged 18 years and above who had received the same type of vaccine (homologous) and will be administered three to six months after the second dose as outlined by the Covid-19 Immunisation Task Force — Booster.

ELK-Desa Resources Bhd registered a lower net profit of RM4.75 million for the second quarter ended Sept 30, 2021, a 55.99% drop from RM10.8 million in the same quarter last year, on lower revenue due to business disruptions during the Full Movement Control Order caused by the pandemic. Earnings per share slipped to 1.6 sen compared with 3.63 sen previously. Quarterly revenue fell 37.52% year-on-year to RM23.36 million from RM37.39 million. An interim dividend of two sen per share to be paid on Dec 16, was declared.

Kejuruteraan Asastera Bhd has secured three new solar projects for grid-connected photovoltaic solar systems with an aggregate capacity of 4,537 kilowatt-peak in Thailand through six power purchase agreements (PPAs) with Aapico Ayutthaya Group of Companies, Great Glove (Thailand) Co Ltd and Volcano Tec (Thailand) Co Ltd in Thailand with an estimated total value of RM55.72 million. The projects will reduce carbon dioxide emissions by 95,018 tonnes, with total savings and reduction in emissions computed over 25 years. KAB managing director Datuk Lai Keng Onn said the projects will contribute positively to KAB’s earnings, adding that the group will continue to increase its tender capacity in the renewable energy segment in Southeast Asia.

NCT Alliance Bhd recorded a sixfold jump in its net profit for the third quarter ended Sept 30, 2021 at RM8.04 million versus RM1.23 million a year earlier, on the back of improved revenue. Quarterly revenue rose 31% to RM26.3 million from RM20.1 million previously. Earnings per share stood at 1.33 sen versus 0.34 sen earlier. No dividend was declared for the quarter.

Datasonic Group Bhd's wholly-owned subsidiary, Datasonic Technologies Sdn Bhd, has received a letter of extension for three contracts related to the supply of Malaysian passports from the Home Ministry. It comprises the supply of the Malaysian passport chips, Malaysian passport documents, and Polycarbonate Biodata Pages to the Immigration Department for a period of 24 months from Dec 1, 2021.

Sunway Construction Group Bhd's (SunCon) third quarter net profit fell 19.74% to RM19.3 million from RM24.04 million a year earlier, on the back of weaker results at both its construction and precast segments. Earnings per share dropped to 1.5 sen from 1.86 sen. Quarterly revenue fell 35.12% to RM272.08 million from RM419.41 million a year earlier, due to the weaker construction division. Its construction segment was dragged down by lower revenue due to the Movement Control Order with relaxation only occurring in mid-August while the precast segment turned to loss despite slightly higher revenue year-on-year — although still lower than the pre-Covid-19 level — due to the impact of higher steel bar prices which increased by more than 25% this year.

Berjaya Sports Toto Bhd (BToto) started its financial year ending June 30, 2022 (FY22) with a loss-making quarter amid cancellation of draws, closure of sales outlets and fixed operating expenses. It posted a net loss of RM17.67 million for the first financial quarter ended Sept 30, 2021, compared to a net profit of RM67.85 million a year ago. Quarterly revenue shrank nearly 41% to RM797.57 million from RM1.35 billion in the previous corresponding quarter as a result of an 88.7% revenue contraction in its principal subsidiary, Sports Toto Malaysia, but it still declared its first interim dividend of one sen to be paid on Jan 5.

Duopharma Biotech Bhd's net profit for the third quarter ended Sept 30, 2021 rose 20.07% year-on-year to RM16.96 million from RM14.13 million due to higher demand from the healthcare and public sectors. Earnings per share rose to 1.8 sen from 1.52 sen. Quarterly revenue grew 28.46% to RM171.84 million from RM133.77 million a year earlier. Its net profit rose 10.22% from RM15.39 million in the immediate preceding quarter, as revenue grew 10.55% from RM155.44 million.

DRB-Hicom Bhd swung to a net loss of RM179.44 million or loss per share of 9.28 sen for the third quarter ended Sept 30, 2021 compared to a net profit of RM47.5 million or earnings per share of 2.46 sen a year ago, mainly on weaker contribution from its automotive business. It also had to recognise a modification loss of RM11.46 million arising from the financing moratorium for deferment of payment for six months in the current quarter. Quarterly revenue fell 40.51% to RM2.12 billion from RM3.56 billion a year ago, as revenue for July and August was significantly affected by the lockdown and restriction of business activities under Phase 1 and 2 of the National Recovery Plan, with operations only resuming after the reopening of economic activities announced by government in mid-August 2021.

Mega First Corp Bhd's net profit for the third quarter ended Sept 30, 2021 slipped 0.72% to RM88.86 million from RM89.5 million a year earlier, as higher material, fuel and freight costs ate into the performance of its resources division. The energy division remained as the largest contributor to the group for the quarter at 91.21% of total pre-tax profit, followed by packaging (6.97%) and resources (1.83%). Earnings per share came in at 9.38 sen from 9.98 sen previously. Quarterly revenue came in 10.1% higher at RM232.5 million from RM211.21 million, again as packaging division revenue more than doubled in the period, while contributions from the other two segments fell.

KNM Group Bhd said it has missed principal and coupon payments on bonds issued in Thailand worth 2.78 billion baht (RM352.57 million) which matured on Thursday (Nov 18). The oil and gas equipment and services group blamed this on the challenges arising from Covid-19 and the unfavourable operating conditions of its subsidiary Impress Ethanol Co Ltd (IECL) that operates an ethanol plant in Thailand. It is in an advanced stage of discussions with several financial institutions to secure new financing for the repayments of the bonds but final approval decisions for these new financing facilities are not expected to be made until after the maturity date of the bonds. It has a grace period until Dec 2 to pay the principal sum, and until Dec 9 to pay the coupon before an event of default occurs.

Formosa Prosonic Industries Bhd net profit for the quarter ended Sept 30, 2021 slid 3.37% to RM24.97 million from its record quarterly profit of RM25.84 million a year earlier, dragged by lower sales from reduced production volume amid the Movement Control Order. Earnings per share for the OEM speaker system manufacturer came in at 10.1 sen in the quarter, from 10.4 sen in 3QFY20. The decline was offset by one-off gains on disposal of property, and the group also accounted for stock option expenses in the quarter.

https://www.theedgemarkets.com/article/smeplt-misc-pharmaniaga-elkdesa-kab-nct-alliance-dsonic-suncon-btoto-dpharma-drbhicom-mfcb
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