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Affin Bank, ABMB, ATA IMS, BIMB, BCorp, Boustead, Capital A, CIMB, EA Technique, HLB, HLFG, FGV, MAHB, Mah Sing, MFM, MRCB, Nationwide Express, PPB, RHB Bank, Samaiden, Siab, S P Setia, Star Media, Velesto and Widad

KUALA LUMPUR (Feb 28): Based on corporate announcements and news flow on Monday, companies in focus on Tuesday (March 1) may include: Affin Bank Bhd, Alliance Bank Malaysia Bhd (ABMB), ATA IMS Bhd, Bank Islam Malaysia Bhd (BIMB), Berjaya Corp Bhd (BCorp), Boustead Holdings Bhd, Capital A Bhd, CIMB Group Holdings Bhd, EA Technique (M) Bhd, Hong Leong Bank Bhd (HLB), Hong Leong Financial Group Bhd (HLFG), FGV Holdings Bhd, Malaysia Airports Holding Bhd (MAHB), Mah Sing Group Bhd, Malayan Flour Mills Bhd (MFM), Malaysian Resources Corporation Bhd (MRCB), Nationwide Express Holdings Bhd, PPB Group Bhd, RHB Bank Bhd, Samaiden Group Bhd, Siab Holdings Bhd, S P Setia Bhd, Star Media Group Bhd, Veletso Energy Bhd and Widad Group Bhd.

Affin Bank Bhd achieved a net profit of RM206.85 million for the fourth quarter ended Dec 31, 2021 (4QFY21), from a net loss of RM9.36 million a year ago due to improved Islamic banking income, lower operating expenses and allowance for impairment losses offset by lower gain on sales of financial instruments, net fee and commission income and net interest income. The group's quarterly revenue declined 7.84% to RM572.13 million from RM620.8 million in the same quarter of the previous year. A final dividend of 12.5 sen per share was declared and will be paid via a dividend reinvestment plan in which shareholders can re-elect to invest in new Affin Bank shares or receive cash dividend.

Alliance Bank Malaysia Bhd (ABMB)’s net profit in the third quarter ended Dec 31, 2021 (3QFY21) surged by 50.33% to RM151.02 million compared to RM100.46 million in the same period last year, fuelled by higher interest income and lower credit cost. The group said its quarterly revenue rose marginally by 0.94% to RM480.18 million from RM475.70 million while earnings per share increased to 9.76 sen from 6.49 sen.

ATA IMS Bhd's net profit came down by nearly 90% to RM5.53 million for the third quarter ended Dec 31, 2021 (3QFY22), from RM53.31 million a year earlier, as revenue declined 41.66% to RM683.81 million, from RM1.17 billion in 3QFY21, due to manpower shortages that resulted in underutilisation of production capacity. On a quarter-on-quarter basis, the group returned to the black from a net loss of RM11.17 million in 2QFY22, thanks mainly to a reversal of provision for the Tenaga Nasional Bhd legal case of RM 5.09 million while its revenue was 15.03% higher than the RM594.48 million reported for 2QFY22, helped by the resumption of business operations amid the National Recovery Plan. Due to the impact of Movement Control Order and the shortage of workers, ATA IMS estimates the turnover for FY22 to reduce by 40% from FY21, with another 30% reduction for FY23.

Bank Islam Malaysia Bhd (BIMB)’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) dropped 55.06% to RM79.64 million from RM177.21 million in the same period last year due to higher allowance charged for impairment on financing and advances during the current period mainly due to expected credit loss provided to one non-retail customer which turned impaired in the period. Revenue for the quarter was up 7.57% to RM816.28 million from RM758.81 million in the same period a year ago. No dividend was declared for the period under review compared with the 5.37 sen declared in 4QFY20. For the full year, Bank Islam had declared a 10.93 sen dividend, 0.01 sen higher the 10.92 sen declared in FY20.

Berjaya Corp Bhd (BCorp) returned to the black in the second quarter ended Dec 31, 2021 (2QFY22) with a net profit of RM101.01 million, compared with a net loss of RM49.71 million posted in the previous year. The better profitability was mainly supported by the gain on disposal of a 30% stake in its associated company, Razer Fintech Holdings Ltd, amounting to RM161 million, as well as a higher share of results of associates and joint ventures. This marks BCorp's first quarterly net profit since 3QFY20, snapping its six-quarter streak of net losses. Earnings per share for the quarter stood at 1.77 sen, compared with a loss per share of 0.85 sen previously while quarterly revenue grew 5.93% to RM2.06 billion, from RM1.94 billion a year ago, driven by the retail and hospitality segments.

Boustead Holdings Bhd returned to the black in its fourth quarter ended Dec 31, 2021 (4QFY21), with a net profit of RM78.6 million versus a net loss of RM352.3 million in 4QFY20, driven by better contributions from all business divisions, in particular its plantation, pharmaceutical and trading, as well as finance and investments. Quarterly revenue climbed 32.75% to RM2.96 billion from RM2.23 billion while earnings per share came in at 3.88 sen, compared with a loss per share of 17.38 sen previously. No dividend was declared with its latest set of results.

Capital A Bhd (formerly known as AirAsia Group Bhd) said its fourth quarter ended Dec 31, 2021’s (4QFY21) net loss narrowed to RM884.09 million, from RM2.46 billion a year prior, on the back of higher aviation revenue, growth from its digital business, strict cost control measures as well as an absence of impairments and fuel swap losses during the quarter while loss per share for the quarter narrowed to 22.7 sen, from 73.5 sen for 4QFY20. Quarterly revenue more than doubled to RM717.12 million, from RM328.39 million previously, mainly due to the easing of travel restrictions and introduction of quarantine free travel lanes. The company noted that 64% of its revenue for the quarter was driven by its aviation segment at RM462.5 million, followed by 36% or RM254.7 million from its digital businesses.

CIMB Group Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) jumped close to four times to RM854.51 million from RM214.98 million a year ago, due to significantly lower provisions. Quarterly revenue fell 1.68% to RM4.59 million from RM4.67 million a year ago, while the  group proposed a second interim dividend of 12.55 sen per share, bringing the total proposed annual dividend for FY21 to 22.99 sen per share for a payout ratio of 50% of core net profit, in line with the group’s dividend policy.

EA Technique (M) Bhd is now classified as an affected listed issuer under Practice Note 17 (PN17) of the Main Market Listing Requirements as it had triggered the criteria pursuant to Paragraphs 2.1 (a) and 2.1(e) of PN17 of the MMLR. The prescribed criteria under Paragraph 2.1(a) and 2.1(e) was triggered due its shareholders’ equity of RM5.96 million as at Dec 31, 2021 is less than RM40 million and 50% of its share capital of RM179.76 million, respectively. the group was granted a three-month restraining order, as well as permission to call a scheme of creditors’ meeting by the High Court on Monday.

Hong Leong Bank Bhd (HLB)'s net profit for the second financial quarter ended Dec 31, 2021 (2QFY22) rose 10.1% to RM738.59 million, from RM670.79 million a year ago, on lower allowances for impairment losses on loans, advances and financing of RM207.6 million, higher write-back of impairment losses on financial investments and other assets of RM300,000, and a higher share of profit from associated companies of RM83.4 million in the current quarter under review. Earnings per share were higher for 2QFY22 at 36.07 sen, compared with 32.77 sen for 2QFY21 while quarterly revenue slipped 2.07% to RM1.37 billion from RM1.4 billion a year ago. An interim dividend of 18 sen per share for the financial year ending June 30, 2022 (FY22) was declared to be paid on March 25.

Hong Leong Financial Group Bhd (HLFG)’s net profit for the second quarter ended Dec 31, 2021 (2QFY22) rose 6.05% to RM559.49 million from RM527.58 million a year ago, underpinned by a higher contribution from its commercial banking division amid a 4.64% fall in revenue to RM1.54 billion from RM1.62 billion a year ago. The group has declared an interim dividend of 15 sen per share for the financial year ending June 30, 2022 (FY22), which will be paid on March 30.

FGV Holdings Bhd saw a more than three-fold jump in net profit to RM465.09 million for the fourth quarter ended Dec 31, 2021 (4QFY21), from RM131.06 million in the same period of the previous year, underpinned by significant improvement in the plantation sector on the back of higher palm oil prices. Earnings per share rose to 12.75 sen from 3.59 sen while quarterly revenue surged 54.25% to RM6.18 billion from RM4.01 billion mainly due to higher contributions from its plantation and logistics segments. A final dividend of eight sen per share was declared, to be paid on March 31.

Malaysia Airports Holdings Bhd (MAHB)'s net loss for the fourth quarter ended Dec 31, 2021 (4QFY21) narrowed to RM136.73 million from a net loss of RM685.02 million, while revenue rose to RM551.34 million from RM263.64 million a year earlier due to the significant increase in passenger volumes for the group with the easing of the Movement Control Order, interstate travel and introduction of Vaccinated Travel Lane in Malaysia coupled with continued positive recovery momentum in Turkey.

Mah Sing Group Bhd registered a 49.02% jump in net profit for the fourth quarter ended Dec 31, 2021 (4QFY21), to RM40.01 million from RM26.85 million a year ago, contributed by its property development and manufacturing segments. Quarterly revenue rose 13.67%  to RM537.42 million from RM472.78 million. The company proposed a first and final dividend of 2.65 sen per share, which is equivalent to a 4% dividend yield based on its closing price of 66 sen on Feb 24.

Malayan Flour Mills Bhd (MFM) reported a six-fold increase in its net profit for the quarter ended Dec 31, 2021 (4QFY21) to RM24.02 million, compared with RM3.91 million in the immediate preceding quarter, on higher operating profit and revenue from its flour and grains trading segment. Revenue increased 11.95% quarter-on-quarter to RM694.69 million from RM620.52 million on higher sales. Earnings per share rose to 2.36 sen, from 1.71 sen in 4QFY20. The group declared an interim dividend of two sen per share, to be paid on March 25.

Malaysian Resources Corporation Bhd (MRCB) rebounded to a net profit of RM15.83 million in the financial year ended Dec 31, 2021 (FY21), from a net loss of RM177.37 million last year while revenue for FY21 increased to RM1.45 billion, from RM1.20 billion. The group said the improved performance was due to the construction progress of the LRT3 project and the full consolidation of its results, after the project company became the group’s wholly-owned subsidiary, and the income arising from its Seri Iskandar Development Corporation subsidiary. A first and final dividend of one sen per share totalling RM44.7 million was declared to be paid on May 20.

Nationwide Express Holdings Bhd's application for an extension of time to submit its regularisation plan has been rejected by Bursa Malaysia. Hence, pursuant to paragraph 8.04(5) of the Main Market Listing Requirements, its shares trading will be suspended from trading with effect from March 8, 2022. Bursa Malaysia said the securities of the company will be delisted on March 10, 2022, unless an appeal against the delisting is submitted on or before March 7, 2022.

PPB Group Bhd saw its net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) rise 30.4% to RM502.56 million from RM385.39 million a year ago, lifted by improved contribution from Wilmar International Ltd, which grew 23% year-on-year (y-o-y), and lower losses recorded from its film exhibition and distribution segment. Earnings per share came in higher at 35.33 sen for 4QFY21, compared with 27.09 sen for 4QFY20. Revenue for the quarter rose 25% to RM1.42 billion from RM1.13 billion a year ago, on higher revenue recorded at the grains and agribusiness and film exhibition and distribution segments. The group also proposed a final dividend of 25 sen per share, payable on June 21. This brings total dividends for the financial year ended Dec 31, 2021 (FY21) to 35 sen per share, from 46 sen for FY20.

RHB Bank Bhd posted a 43% increase in net profit to RM631.17 million for the fourth quarter ended Dec 31, 2021 (4QFY21) from RM438.63 million in the previous year’s corresponding quarter, attributed to lower expected credit losses (ECL). Revenue for the quarter was slightly lower at RM2.89 billion, down 6% from RM3.08 billion a year earlier. It proposed a final dividend of 25 sen per share, comprising 15 sen cash and an electable portion under the dividend reinvestment plan of 10 sen per share. Meanwhile, RHB said that it will announce the appointment of its new managing director and group chief executive officer in due course as the process of identifying and evaluating candidates to fill the position is currently ongoing.

Samaiden Group Bhd’s newest substantial shareholder,Japan-based and listed engineering company Chudenko Corp has emerged with a 7.27% stake or 16.8 million shares at RM1.27 shares, after taking part in the renewable energy (RE) and environment solutions provider’s private placement for RM21.34 million. Samaiden raised a total of RM25.31 million from the private placement, which it intends to use to partially fund its investment in RE assets.

Siab Holdings Bhd ended its debut on the ACE Market of Bursa Malaysia on Monday (Feb 28) with a premium of 3.33% or one sen higher at 31 sen from its initial public offering (IPO) price of 30 sen. The stock rose to a high of 34 sen, then pared its gains to settle at 31 sen valuing it RM151.79 million with 188.3 million shares changing hands making it the most traded counter of the day.

S P Setia Bhd’s net profit jumped 118.24% to RM123.32 million for the fourth quarter ended Dec 31, 2021 (4QFY21), from RM56.5 million a year earlier, on improved profit margin and higher share of results from some joint venture companies. Quarterly revenue however slipped 7.28% to RM1.03 billion, from RM1.11 billion, on lower contributions from its property development segment.

Star Media Group Bhd posted a fifth straight quarterly loss, dragged mainly by the one-off item on impairment of assets of RM38.98 million. The publishing company reported a wider net loss of RM25.37 million or a loss per share of 3.5 sen for the fourth quarter ended Dec 31, 2021 (4QFY21), compared with a net loss of RM15.71 million or 2.16 sen a year ago. Excluding impairment of assets of RM38.98 million, the group’s loss narrowed substantially to RM2.02 million in 4QFY21 as compared to RM7.19 million in 4QFY20 (excluding impairment of assets of RM11.98 million) while revenue for the quarter inched up 1.12% to RM51.52 million, from RM50.95 million a year earlier.

Veletso Energy Bhd posted a net profit of RM5.43 million in the fourth quarter ended Dec 31, 2021 (4QFY21) against a net loss of RM493.29 million in the corresponding quarter a year prior, when the group booked a whopping impairment loss of RM461.8 million for its rig assets. On the absence of the impairment loss, and with revenue increasing 60% to RM158.49 million from RM99.06 million a year before — thanks to higher activities seen in its drilling and oilfield segment during the quarter under review — Velesto achieved an earnings per share of 0.07 sen for 4QFY21, versus a loss per share of 6 sen for 4QFY20.

Widad Group Bhd returned to the black in the fourth quarter ended Dec 31, 2021 (4QFY21) with a net profit of RM64.63 million, compared to a RM488,000 net loss posted last year, on the back of a RM115 million bargain purchase gain arising from the acquisition of Serendah Heights Sdn Bhd. Earnings per share (EPS) for the quarter stood at 2.39 sen, compared to a loss per share of 0.02 sen previously. However, quarterly revenue for the company stood at RM5.18 million, a 78.35% decline from last year’s RM23.94 million, due to the adoption of the Malaysian Accounting Standards Board’s Issues Committee Interpretation 12 (ICI12) on service concession arrangements which reclassified RM24.17 million in revenue to finance income.


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