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Gamuda, Green Packet, Spritzer, Astro, Eco World, Eco World International, Tropicana, Yinson and MyNews

KUALA LUMPUR (March 25): Based on corporate announcements and news flow today, companies in focus tomorrow may include: Gamuda Bhd, Green Packet Bhd, Spritzer Bhd, Astro Malaysia Holdings Bhd, Eco World Development Group Bhd, Eco World International Bhd, Tropicana Corp Bhd, Yinson Holdings Bhd and MyNews Holdings Bhd.

Gamuda Bhd will soon kickstart the reclamation and development of an island, which forms part of the Penang Transportation Master Plan (PTMP). It has formed a joint venture with the Penang State government for the development of the reclaimed land. In addition, Gamuda will be tasked to carry out the reclamation works. Gamuda will fund all the equities required and arrange the borrowings that are needed for the development project.

Green Packet Bhd said today it made an RM48.58 million gain from the disposal of 41.37 million shares in G3 Global Bhd on the open market for RM63.22 million in recent days. It said the disposal of its shares in G3 Global was an opportunity for it to monetise a portion of its shareholdings in an associate.

Spritzer Bhd is acquiring agriculture land near its existing mineral water plant in Air Kuning, Taiping for RM76.11 million, to set up a new plant. The group said the 1,228-acre land, planted with oil palm trees, belongs to Trong Oil Palm Estates Sdn Bhd.

Astro Malaysia Holdings Bhd's net profit rose 20.81% to RM167.83 million in the fourth financial quarter ended Jan 31, 2021 (4QFY21), from RM138.92 million a year earlier, on lower net financing costs and tax expenses. Quarterly revenue fell 9.54% to RM1.11 billion from RM1.23 billion in 4QFY20, underpinned by a decrease in subscription and advertising revenue in the period. The group declared a fourth interim dividend of 1.5 sen per share to be paid on April 23, as well as a final dividend of 2.5 sen per share. The group's full-year net profit declined 17.62% to RM539.85 million from RM655.3 million in FY20. Hit by the Covid-19 pandemic, revenue for FY21 fell 11.24% to RM4.36 billion from RM4.91 billion in FY20.

Property developer Eco World Development Group Bhd’s (Eco World) net profit for the first quarter ended Jan 31, 2021 (1QFY21) jump 71% to RM62.43 million from RM36.51 million a year prior, as its international property arm Eco World International Bhd (EWI) reported stronger earnings during the quarter under review. The improved net profit came despite revenue slipping 5.7% y-o-y to RM507.35 million from RM537.95 million, following lower site activity in matured projects.

Eco World International Bhd’s (EWI) net profit jumped by more than 10-fold to RM56.03 million for the first quarter ended Jan 31, 2021, from RM5.19 million a year ago, thanks mainly to profit recognition of the group’s Melbourne project. Quarterly revenue swelled to RM303.28 million from RM51,000, it said. The group declared an interim dividend of one sen, to be paid on April 28. This is EWI's maiden dividend since its listing in 2017.

Tropicana Corp Bhd’s net profit surged 231% to RM48.08 million for the fourth quarter ended Dec 31, 2020 (4QFY20) from RM14.51 million in the preceding quarter. Quarterly revenue rose 59.3% to RM356.69 million from RM223.97 million in 3QFY20. For the full financial year, Tropicana’s net profit declined 71.3% to RM92.03 million from RM320.76 million in FY19. Full-year revenue was 6.8% lower at RM1.06 billion from RM1.14 billion.

Yinson Holdings Bhd net profit grew marginally by 3.08% to RM67 million in the fourth quarter ended Jan 31, 2021 (4QFY20) against RM65 million reported in the previous corresponding quarter, on the back of higher EPCIC (Engineering, Procurement, Construction, Installation & Commissioning) business activities contribution. The group’s quarterly revenue, however, declined by 32.8% to RM1.25 billion from RM1.86 billion. Nonetheless, Yinson has declared a final dividend of two sen to be paid on Aug 30, 2021. For the full-year period (FY20), Yinson’s annual net profit was up by 50% to RM315 million from RM210 million in FY19 while revenue ballooned by 92.5% to RM4.85 billion from RM2.52 billion, underpinned by contribution from EPCIC business activities.

MyNews Holdings Bhd sank into the red in the first quarter ended Jan 31, 2021 with a net loss of RM8.94 million, from a net profit of RM4.35 million a year ago as its business was impacted by movement restrictions implemented by the Government to curb the spread of Covid-19. Revenue fell 29.82% to RM98.65 million from RM140.58 million a year earlier.

https://www.theedgemarkets.com/article/gamuda-green-packet-spritzer-astro-eco-world-eco-world-international-tropicana-yinson-and

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