KUALA LUMPUR (Feb 21): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Feb 22) could be KPJ Healthcare Bhd, Hong Leong Financial Group Bhd (HLFG), Pharmaniaga Bhd, Mercury Industries Bhd, IOI Properties Group Bhd, Malaysian Bulk Carriers Bhd, Parkson Holdings Bhd, Carlsberg Brewery Malaysia Bhd, Scan Associates Bhd, Ann Joo Resources Bhd and Serba Dinamik Holdings Bhd.
Hospital operator KPJ Healthcare Bhd's fourth quarter net profit rose 91% to RM52.19 million from a year earlier on higher income from its Malaysian, Indonesian and Australian operations.
In a statement to Bursa Malaysia today, KPJ said net profit rose to RM52.19 million in the fourth quarter ended Dec 31, 2016 from RM27.29 million. Revenue climbed to RM744.99 million from RM701.6 million.
For the full year, KPJ said group net profit rose to RM149.2 million from RM135.33 million a year earlier. Revenue was higher at RM3.02 billion versus RM2.85 billion.
Hong Leong Financial Group Bhd (HLFG) saw its net profit for the second financial quarter ended Dec 31, 2016 (2QFY17) increase by 68.2% to RM443.03 million or 38.7 sen per share from RM263.45 million or 24.5 sen per share in 2QFY16, mainly due to the absence of a mutual separation scheme (MSS) cost booked in December 2015.
In a statement today, HLFG said that excluding the MSS costs, its underlying net profit had risen by 26.9% in 2QFY17, which was due to higher contribution across all its operating divisions, namely its banking division Hong Leong Bank Bhd and insurance division HLA Holdings Sdn Bhd.
In the first half ended Dec 31, 2016 (1HFY17), HLFG’s net profit of RM829.22 million or 72.5 sen per share was 27.5% higher than its 1HFY16 net profit of RM650.33 million or 61.2 sen per share.
Pharmaniaga Bhd slipped into the red with a net loss of RM836,000 or 0.32 sen per share for the fourth quarter ended Dec 31, 2016 (4QFY16), versus a net profit of RM16.06 million or 6.2 sen per share in the previous corresponding quarter, due to lower contribution from its concession business.
Revenue was 14% lower at RM582.82 million compared with RM680.15 million recorded a year earlier.
Pharmaniaga announced an interim dividend of three sen, payable on March 17.
For the full-year period, net profit declined 46% to RM45.6 million from RM84.04 million in the previous year, while revenue was flat at RM2.19 billion.
Mercury Industries Bhd’s 70%-owned construction unit Paramount Bounty Sdn Bhd has won a mixed development project worth RM238 million in Gombak, Selangor.
The project comprises 1,632 units of small-office home-office (SOHO) and 32 shop lots, said Mercury Industries in a filing.
The contract was awarded via a letter of appointment by Veritas Architects Sdn Bhd, the architect appointed by Pujian Development Sdn Bhd, which in turn is the turnkey contractor for EcoFirst Hartz Sdn Bhd.
Both Pujian Development and EcoFirst Hartz are wholly-owned subsidiaries of EcoFirst Consolidated Bhd.
Mercury Industries said the contract is deemed as a related party transaction as the company shares a common shareholder with EcoFirst, namely Datuk Tiong Kwing Hee. Tiong is Mercury Industries’ executive director and EcoFirst’s chief executive officer. He is a major shareholder of both companies.
IOI Properties Group Bhd recorded an 11% fall in net profit to RM273.53 million or 6.2 sen per share in the second financial quarter ended Dec 31, 2016 (2QFY17) from RM307.17 million or 8.16 sen per share a year ago, as the share of results from joint ventures decreased in the current quarter.
IOI Properties said excluding the net fair value gain of RM121 million, the property developer's pre-tax profit for the current quarter was 26% higher than the year-ago period.
Quarterly revenue rose 33.6% to RM1.19 billion from RM894.41 million in 2QFY16, driven by contributions from all business segments.
For the first half of FY17, net profit increased 9.6% to RM463.1 million from RM422.64 million a year earlier, while revenue jumped 40.6% to RM2.09 billion in 1HFY17 from RM1.49 billion in 1HFY16.
Parkson Holdings Bhd returned to the black after four successive quarters of losses in the second financial quarter ended Dec 31, 2016 (2QFY17), posting a net profit of RM72.67 million or 6.76 sen per share against a net loss of RM31.44 million or 2.88 sen per share a year ago, helped by a gain on disposal of a subsidiary in China.
Quarterly revenue was flat at RM1.05 billion in 2QFY17 compared with RM1.04 billion in 2QFY16.
For the six-month period ended Dec 31, 2016 (6MFY17), Parkson's net profit fell 68.29% to RM10.1 million or 0.95 sen per share from RM31.85 million or 2.92 sen per share in 6MFY16.
Revenue for 6MFY17 fell 2.54% to RM1.92 billion from RM1.97 billion a year ago.
Carlsberg Brewery Malaysia Bhd’s net profit fell 36.8% to RM47.07 million in the fourth quarter ended Dec 31, 2016 (4QFY16), from RM74.48 million a year ago, as it was impacted by its share of loss in an associate, one-off tax adjustments, and deferred tax expense.
Revenue for the quarter rose 2.9% to RM434.64 million from RM422.51 million, its stock exchange filing today showed.
It is planning to pay a final dividend of 67 sen per share for FY16, on May 19.
For the cumulative 12 months, Carlsberg’s net profit slipped 5% to RM204.98 million from RM215.91 million in the previous year, though revenue grew 1% to RM1.68 billion from RM1.66 billion.
Scan Associates Bhd non-independent and non-executive director Yeoh Eng Kong, who was suspended from the company's board on Sept 9 last year for breach of his duties, has been allowed to resume his role.
The company also said it will not take any further action against Yeoh as it deemed his suspension period as "adequate" and "served the purpose".
In a filing with Bursa Malaysia today, Scan said the investigative committee — set up to investigate the possible serious breach of duties by Yeoh — had on Feb 16 concluded that he was in breach of his duties as a director of the company.
"After considering the statement/representation given by Yeoh, the board has agreed to uplift the suspension from Feb 17, 2017 and he will resume his role as a director on the same date," it added.
Malaysian Bulk Carriers Bhd (Maybulk)’s 21%-owned associate PACC Offshore Services Holdings (POSH) has reported a net loss of US$345.4 million for the 4Q16 ended Dec, more than double of its loss of US$149.7 million in 4Q15.
The latest quarterly results were primarily impacted by impairments of US$111.2 million and US$198.9 million, to goodwill and vessels respectively in 4Q16.
Revenue for 4Q declined 49% to US$36.7 million, amid what POSH describes as “continued challenging conditions across the industry”.
POSH’s 4Q16 loss brings the group’s FY16 net loss to US$371.4 million, after providing for US$310.1 million on non-cash impairments.
Ann Joo Resources Bhd returned to the black in the fourth quarter ended Dec 31, 2016 (4QFY16), posting a net profit of RM45.94 million or 9.18 sen a share against a net loss of RM47.67 million or 9.52 sen a share a year ago, driven by contributions from its manufacturing and trading divisions.
Quarterly revenue rose 14.2% to RM472.14 million, from RM413.54 million in 4QFY15.
The steel maker declared a final dividend of nine sen per share for the financial year ended Dec 31, 2016 (FY16), payable on May 19.
The improved fourth-quarter results led to a full-year net profit of RM166.78 million or 33.32 sen per share, compared with a net loss of RM135.48 million or 27.06 sen loss per share in FY15.
Revenue for FY16 also increased 6.2% to RM1.87 billion, from RM1.76 billion in FY15, on improved cost structure and effective business strategies execution.
Perdana Petroleum Bhd posted a net profit of RM2.53 million for the fourth quarter ended Dec 31, 2016 (4QFY16) compared with a net loss of RM80.17 million a year earlier, thanks to a deferred tax income.
At the pre-tax level, the offshore marine services company remained in the red, albeit with a lower loss of RM11.33 million compared with RM78.16 million in 4QFY15.
Revenue dropped 2.5% to RM47.37 million from RM48.61 million in 4QFY15, on lower vessel utilisation which was at 58%.
For the full financial year, Perdana Petroleum posted a smaller net loss of RM29.93 million against RM118.92 million in FY15, on cost-reduction initiatives together with a net foreign exchange gain of RM56.3 million.
Revenue came in 16% lower at RM191.71 million from RM228.19 million in FY15.
Serba Dinamik Holdings Bhd has proposed to acquire a 40% stake in a Konsortium Amanie JV Sdn Bhd, the builder of a water treatment plant in Terengganu, for a total cash consideration of RM34 million.
The group's wholly-owned subsidiary, Serba Dinamik Sdn Bhd (SDSB), signed a sales and purchase agreement (SPA) with FCA Capital Sdn Bhd and Mirmas Holding Sdn Bhd yesterday, Serba Dinamik said in a stock exchange filing today.
Konsortium Amanie had on April 28, 2016 secured a RM1.31 billion contract to design and build a water treatment plant from the Terengganu state government under the Kuala Terengganu Utara Water Supply Scheme.
On Feb 13, Konsortium Amanie had novated its engineering, procurement, construction and commissioning (EPCC) contract for the project to SDSB.
The plant has a 120 million litres per day (MLD) and 28 MLD capacity.
"The proposed acquisition is part of Serba Dinamik's strategy to expand the group's EPCC capabilities (as it) enables SDSB to participate in the EPCC works, which is valued at approximately RM289.72 million," Serba Dinamik said.
FCA Capital, which is wholly owned by Fask Capital Sdn Bhd, currently holds a 35% stake in the consortium while Mirmas owns a 25% stake. The remaining shareholders are Tim Sekata Sdn Bhd and Brem Maju Sdn Bhd, which have a 25% and 15% stake respectively.
Konsortium Amanie recorded an unaudited net loss of approximately RM800,615 for the financial year ended Dec 31, 2016 (FY16) and unaudited net assets of approximately RM199,385.
http://www.theedgemarkets.com/my/article/kpj-healthcare-hong-leong-financial-group-pharmaniaga-mercury-industries-ioi-properties
