Sime Darby, MSM, PetChem, Heineken, Green Packet, MBSB, Genting Plantations, Symphony Life, Ekovest, Boustead Plantations, Hap Seng and TH Plantations
KUALA LUMPUR (Aug 25): Based on corporate announcements and news flow today, companies in focus tomorrow (Aug 26) may include: Sime Darby Bhd, MSM Malaysia Holdings Bhd, Petronas Chemicals Group Bhd (PetChem), Heineken Malaysia Bhd, Green Packet Bhd, Malaysia Building Society Bhd (MBSB), Genting Plantations Bhd, Symphony Life Bhd, Ekovest Bhd, Boustead Plantations Bhd, Hap Seng Consolidated Bhd and TH Plantations Bhd.
Sime Darby Bhd’s net profit for the fourth quarter ended June 30, 2021 grew 19.2% to RM211 million from RM177 million a year ago, as its revenue expanded 28.6% to RM11.34 billion from RM8.82 billion a year earlier, due to its motor division’s strong performance. The group declared a second interim dividend of eight sen per share and a special dividend of one sen per share for 4QFY21. This raised total dividend payout for FY21 to 15 sen per share, compared with 10 sen for FY20.
MSM Malaysia Holdings Bhd made a net profit of RM13.28 million for the second quarter ended June 30, 2021 from its continuing operations, compared with the net loss of RM19.42 million it posted a year earlier, as the sugar manufacturer’s revenue rose on higher average selling prices for its products. Revenue rose 23.48% to RM554.1 million from RM448.74 million a year ago.
Petronas Chemicals Group Bhd (PetChem) posted a 10-fold jump in net profit to RM1.86 billion for its second quarter ended June 30, 2021, from RM186 million a year earlier, as revenue rose largely due to higher product prices in tandem with the recovery of crude oil prices. Revenue rose to RM5.61 billion in the second quarter from RM3.18 billion a year prior. The group declared a first interim dividend of 23 sen a share.
Heineken Malaysia Bhd returned to the black in the second quarter ended June 30, 2021 with a net profit of RM25.27 million compared to a net loss of RM18.19 a year earlier, as revenue jumped 37.71% to RM349.42 million from RM253.74 million, mainly driven by higher sales compared with the corresponding quarter last year, as businesses and consumers gradually adapted to the new normal despite intermittent lockdowns. Optimisation of marketing spend and ongoing cost savings initiatives implemented by the group also boosted earnings. Heineken declared an interim dividend of 15 sen share, to be paid on Nov 18, 2021.
Technology, media and telecommunications player Green Packet Bhd’s fully-owned subsidiary Oasis Capital Investment Bank has been awarded a conditional investment bank license from the Labuan Financial Services Authority today. OCIB aims to become an innovative forerunner in Southeast Asia’s offshore neobank scene specialising in digital asset portfolio advisory, management services as well as bespoke structured products and services for high-net-worth individuals (HNWI), institutions and enterprises, according to Green Packet.
Malaysia Building Society Bhd (MBSB) posted a net profit of RM403.41 million for the second quarter ended June 30, 2021, surging 536% from RM63.41 million in the preceding quarter amid impairment write-backs. Revenue, however, slipped 2.4% to RM664.94 million from RM680.98 million in the first quarter, due to a lower gain from sale of financial investments during the quarter.
Genting Plantations Bhd’s net profit for the second quarter ended June 30, 2021 surged more than four-fold to RM104.63 million from RM22.64 million a year prior, as its revenue rose 45.16% to RM790.11 million from RM544.32 million. It attributed the improved earnings to higher revenue contributions from its plantations segment, coupled with higher sales from its property segment, which eclipsed the impact of lower sales volume from its downstream manufacturing segment. The group declared an interim dividend of 11 sen per share to be paid on Sept 24.
The largest shareholder of property developer Symphony Life Bhd, Muar Ban Lee Group Bhd, has called for an upcoming extraordinary general meeting scheduled for Sept 23 to vote on the removal of three directors, whom it said it disagrees with on the direction they were taking the company, and to replace them with three others. The meeting was called via MBL's wholly-owned Theron Holdings Sdn Bhd. MBL emerged earlier this month as the largest shareholder in Symphony Life after Theron upped its stake in Symphony Life, which gave MBL combined direct and indirect stakes of 17.918% in Symphony Life (14.41% held via Theron).
Ekovest Bhd, which is controlled by tycoon Tan Sri Lim Kang Hoo, is proposing to provide financial assistance amounting to S$77.28 million (RM240.34 million) to its indirect 29%-owned joint venture company MCC Land (TMK) Pte Ltd in the form of deed of undertaking for banking facilities obtained by the latter from licensed financial institutions based in Singapore. The amount is more than 5% of Ekovest's net tangible assets for the financial year ended June 30, 2020. Thus, the company is required to issue a circular to its shareholders and seek its shareholders' approval at the forthcoming extraordinary general meeting.
Boustead Plantations Bhd posted a net profit of RM48.38 million for the second quarter ended June 30, 2021, a near seven-fold jump from RM7.08 million a year earlier, on the back of higher palm oil product prices. Revenue rose 45.33% to RM242.78 million from RM167.06 million in the same quarter last year. Boustead Plantations declared a second interim dividend of 2.3 sen per share to be paid on Sept 30.
Hap Seng Consolidated Bhd’s net profit for the second quarter ended June 30, 2021 soared 121.23% to RM97.52 million from RM44.08 million in the previous year boosted by the plantation, automotive, trading and building materials divisions. Revenue for the current quarter was at RM1.26 billion, 27.57% higher than the preceding year corresponding quarter's RM989.58 million, on higher revenue from all divisions, except for property.
TH Plantations Bhd’s net profit for the second quarter ended June 30, 2021 surged 255.6% to RM26.57 million from RM8.16 million a year ago, as revenue improved by 38.1% to RM176.115 million from RM127.57 million, amid higher average realised prices of crude palm oil, palm kernel and fresh fruit bunch, despite lower sales volume for both crude palm oil and palm kernel.