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S P Setia, KLK, Leong Hup, TSH Resources, AAX, Tan Chong, Batu Kawan, Oriental Holdings, Boustead Plantations

KUALA LUMPUR (Nov 23): Based on corporate announcements and news flow on Tuesday, companies in focus on Wednesday (Nov 24) may include S P Setia Bhd, Kuala Lumpur Kepong Bhd, Leong Hup International Bhd, TSH Resources Bhd, AirAsia X Bhd, Tan Chong Motor Holdings Bhd, Batu Kawan Bhd, Oriental Holdings Bhd, and Boustead Plantations Bhd.

S P Setia Bhd returned to the black in the third quarter of financial year 2021 (3QFY21) ended Sept 30, 2021, registering a net profit of RM11.01 million from a net loss of RM267.01 million a year earlier. The latest performance was supported by lower operational cost of sales and a narrowing share of losses from its joint venture companies. Quarterly revenue, however, fell 44.97% to RM594.55 million for 3QFY21 from RM1.08 billion the year before. The group did not declare any dividend for the latest quarter.

Kuala Lumpur Kepong Bhd's (KLK) net profit tripled to RM625.8 million for 4QFY21 ended Sept 30, 2021, from RM208.82 million a year ago, thanks to higher palm oil prices and profit contribution from newly acquired IJM Plantations Bhd. Revenue rose 48.24% to RM5.93 billion from RM4 billion in the same quarter last year. No dividend was declared for the quarter.

Leong Hup International Bhd reported a net loss of RM53.42 million or loss per share of 1.46 sen in 3QFY21 ended Sept 30, 2021 from a net profit of RM22.53 million or earnings per share of 0.62 sen in the previous year as broad-based lockdowns negatively affected all demand channels after economic activities were significantly scaled back during the quarter. Quarterly revenue surged 14.98% to RM1.81 billion against RM1.57 billion due to higher revenues reported from its Indonesia and Malaysia segments.

TSH Resources Bhd's net profit for 3QFY21 ended Sept 30, 2021 jumped 87.3% to RM45.08 million from RM24.07 million a year ago, boosted by higher crude palm oil (CPO) prices. Quarterly revenue rose 42.46% to RM309.07 million from RM216.96 million, No dividend was declared for the quarter.

AirAsia X Bhd (AAX) posted a bigger net loss of RM149.14 million for 1QFY22 ended Sept 30, 2021, compared with RM24.63 billion in the immediate preceding quarter. The net loss in the preceding quarter was contributed by a provision for the amount payable to creditors, with the low-cost carrier in default under the terms of the contract. Revenue for the quarter under review stood at RM99.27 million, versus RM72.26 million in the preceding quarter. There is no comparative financial information available for the same quarter last year, as the group changed its financial year end from Dec 31, 2020 to June 30, 2021.

Tan Chong Motor Holdings Bhd's net loss widened to RM44.2 million in 3QFY21 ended Sept 30, 2021, from a net loss of RM7.33 million reported in the previous year, as the group's business in Malaysia and the region was affected by movement restrictions for most of the reporting quarter to curb the spread of Covid-19. Quarterly revenue declined 54.46% to RM439.28 million from RM964.54 million previously, while quarterly loss per share expanded to 6.78 sen from 1.12 sen. This comes after the group's net loss doubled from RM22.21 million, while revenue dropped 31.15% from RM638.03 million from its second quarter this year.

Batu Kawan Bhd posted a 262% spike in its net profit to RM308.04 million for 4QFY21 ended Sept 30, 2021, from RM85.17 million in the previous year's corresponding quarter, helped by higher CPO and palm kernel prices. Revenue for the quarter grew 50% to RM6.16 billion from RM4.12 billion. Its performance for the quarter was supported by a surplus of RM4.26 million on sales of land and government acquisitions, offset by foreign currency exchange translation loss of RM2.24 million on inter-company loans denominated in foreign currencies, and a RM61.88 million impairment on an estate in Liberia.

Oriental Holdings Bhd posted 358% growth in net profit for 3QFY21 ended Sept 30, 2021 to RM68.66 million from RM14.99 million a year ago despite lower revenue. Earnings per share correspondingly grew by 357.44% to 11.07 sen from 2.42 sen. Quarterly revenue, however, declined 25.32% to RM708.09 million from RM948.22 million a year prior. The group also declared a dividend of 10 sen per share for the quarter, up from six sen per share last year, bringing its cumulative dividend payout to 24 sen per share for FY21, unchanged from last year.

Boustead Plantations Bhd's net profit jumped about five-fold in 3QFY21 ended Sept 30, 2021 to RM95.56 million from RM17.97 million amid higher CPO prices. Earnings per share went up to 4.27 sen from 0.8 sen while its quarterly revenue expanded by 42.8% to RM293.77 million from RM205.68 million, boosted by increase in palm product prices that led to a profit of RM133.1 million from its operations.

https://www.theedgemarkets.com/article/s-p-setia-klk-leong-hup-tsh-resources-aax-tan-chong-batu-kawan-oriental-holdings-boustead

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