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Supermax, Gas Malaysia, Prestar, DNeX, Kerjaya Prospek, UEM Sunrise, Cahya Mata Sarawak and Dufu

KUALA LUMPUR (May 5): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (May 6) include: Supermax Corp Bhd, Gas Malaysia Bhd, Prestar Resources Bhd, Dagang Nexchange Bhd, Kerjaya Prospek Group Bhd, UEM Sunrise Bhd, Cahya Mata Sarawak Bhd and Dufu Technology Corp Bhd.

Supermax Corp Bhd's net profit for the third quarter ended March 31, 2021 came in at RM1 billion, down 5.2% compared with RM1.06 billion recorded in the preceding quarter, while revenue fell 3% to RM1.94 billion from RM2 billion.

On a year-on-year basis, the group's net profit surged 14 times from RM71.06 million a year ago, while revenue jumped four folds to RM1.94 billion from RM447.25 million. For the cumulative nine months, the group's net profit soared close to 23 times to RM2.85 billion from RM125.97 million a year earlier, while  revenue surged four times to RM5.29 billion from RM1.2 billion. Supermax declared a special dividend of 13 sen per share.

Gas Malaysia Bhd’s net profit rose 16.2% to RM55.63 million in the first quarter ended March 31, 2021 from RM47.86 million a year ago, on higher volume of natural gas sold and higher contribution from joint ventures. Quarterly revenue, however, was down 28.2% to RM1.15 billion from RM1.61 billion, due to lower average tariffs.

Prestar Resources Bhd’s net profit jumped 351% to RM18.33 million in its first quarter ended March 31, 2021 from RM4.07 million a year earlier, thanks to strong demand for its steel products.

Revenue rose 49.6% to RM140.18 million from RM93.7 million. On a quarter-on-quarter basis, Prestar said its net profit grew 16.3% from RM15.76 million while revenue increased 2.3% from RM137.05 million.

Dagang Nexchange Bhd (DNeX) expects to raise up to RM641.96 million through its proposed issuance of new placement shares representing 30% of its existing number of issued shares. The placement is based on an indicative issue price of 72 sen per share, the information technology and trade facilitation services company. All the proceeds, other than RM20,000 for working capital and RM3,500 for estimated placement-related expenses, would be used for acquisitions and other business expansion or investment.

Kerjaya Prospek Group Bhd’s wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd today accepted a letter of award from Eastern & Oriental Bhd's (E&O) indirect subsidiary Persada Mentari Sdn Bhd for an RM28.398 million contract involving construction work for a proposed serviced apartment project at Penang's Seri Tanjung Pinang reclaimed land. Kerjaya Prospek Group said the contract covers, among others, earthwork and basement construction for the proposed two blocks of 35-storey serviced apartments.

Two wholly-owned subsidiaries of UEM Sunrise Bhd have been slapped with additional taxes and penalties amounting to RM82.18 million by the Inland Revenue Board (IRB). The notice of additional assessment and penalty of RM8.49 million for the years 2013 to 2018 was issued to UEM Land Bhd, following the removal of Bumiputera quota and low-cost requirements at its selected developments in Iskandar Puteri, while another unit Symphony Hills Sdn Bhd got a tax bill for RM73.69 million, following the reversal of tax losses utilisation for the years of assessment from 2006 to 2017. Both UEM Land and Symphony Hills will be seeking judicial reviews and file stay orders on the notices.

Cahya Mata Sarawak Bhd (CMS) today suspended its group chief financial officer Syed Hizam Alsagoff for 30 days with immediate effect. The suspension is to facilitate investigations into allegations of possible financial mismanagement in relation to the company's investments and operations, CMS said.

Dufu Technology Corp Bhd’s first quarter net profit grew 38% to RM19.52 million from RM14.14 million a year earlier, as revenue rose on the back of an increase in volume loading by customers related to hard drives (HDD) components. The higher earnings for the quarter ended March 31, 2021 was also due to the continuing improvement in production efficiency, mainly due to economies of scale arising from the increase in production utilisation. Quarterly revenue was up 26.3% to RM79.5 million from RM62.95 million.

https://www.theedgemarkets.com/article/supermax-gas-malaysia-prestar-dnex-kerjaya-prospek-uem-sunrise-cahya-mata-sarawak-and-dufu

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