KUALA LUMPUR (May 24): Based on corporate announcements and news flow today, stocks in focus tomorrow (May 25) may include: DRB-Hicom, PetDag, Sentoria, Sarawak Cable, FIMA Corp, EITA Resources, UOA REIT, Hengyuan, CIMB, DKSH, MBM Resources, MBSB, Parkson, Hap Seng Plantations, Sunsuria and TH Plantations.
DRB-Hicom Bhd is selling a 49.9% stake in its wholly-owned Proton Holdings Bhd to China-based Zhejiang Geely Holding Group Co Ltd, confirming a report by The Edge Financial Daily today that the buyer would be Geely. A definitive agreement is expected this July, said DRB-Hicom.
Meanwhile, DRB-Hicom gets to keep a controlling stake in Proton.
Part of the deal entails Proton selling a 51% stake in its wholly-owned British carmaker Lotus to Geely, marking its exit from the sports car segment.
Petronas Dagangan Bhd (PetDag) has inked a memorandum of understanding with PHEONIX Petroleum Philippines Inc to sell its entire stake in Petronas Energy Philippines Inc, along with its remaining 40% stake in Duta Inc.
The move marks PetDag's exit from the Philippines liquefied petroleum gas, or LPG, business, which it entered in 2012 alongside its entrance into Vietnam and Thailand. PetDag is still looking for a new buyer for its Vietnamese subsidiary.
Sentoria Group Bhd's wholly-owned subsidiary Sentoria Bina Sdn Bhd will undertake a construction project involving 506 units of single-storey semi-detached houses in Pahang worth RM60.8 million.
The job was awarded by HA Properties Sdn Bhd. It is set to start on July 1, to be completed by June 30, 2019.
Sarawak Cable Bhd's wholly-owned subsidiary Trenergy Infrastructure Sdn Bhd has bagged an RM81.37 million job from Tenaga Nasional Bhd.
The contract — for the double circuit 500kV overhead transmission line from Alor Gajah to Bahau South in Melaka — is expected to contribute to its books from FY17 to FY19.
FIMA Corp Bhd has proposed a dividend totalling 12 sen per share for its the fourth quarter ended March 31 (4QFY17), even though net profit in the period dipped 6.73% to RM11.09 million against RM11.81 million last year, due to lower revenue.
Quarterly revenue declined 5.52% to RM80.73 million, against RM85.44 million a year ago.
EITA Resources Bhd's shares closed at an all-time high of RM2.07 today after posting a 25-fold jump in its net profit for the second quarter ended March 31 (2QFY17) to RM5.49 million from RM216,000 in the same period last year.
Amid the significant increase in earnings, EITA declared a two sen dividend, payable on July 26. Revenue, however, dipped 4.3% to RM66.86 million against RM69.89 million last year.
UOA Real Estate Investment Trust (REIT)'s first quarter ended March 31 (1QFY17) net rental income declined by 14% to RM14.70 million from RM17.03 million a year ago, as gross rental fell.
The REIT's gross rental fell 10% to RM20.4 million in 1QFY17, from RM22.71 million in the previous corresponding quarter. It made a provision of RM9.02 million for income distribution, translating into a distribution of 2.13 sen per unit.
Hengyuan Refining Co Bhd's net profit for the first quarter ended March 31, 2017 (1QFY17) nearly tripled to RM264.33 million from RM101.65 million a year ago, mainly from improved gross profit margin, as well as a net gain on foreign currency exposure, with lower administrative expenses.
Quarterly revenue rose 56% to RM2.9 billion in 1QFY17 from RM1.9 billion a year ago, following recovery in crude oil prices.
CIMB Group Holdings Bhd's net profit in the first quarter ended March 31 (1QFY17) rose 46% to a record RM1.18 billion from RM813.8 million a year ago, driven by higher interest, non-interest and Islamic banking income.
Also supporting the gains was lower bad loan allowance, said CIMB. Quarterly revenue was higher at RM4.36 billion versus RM3.73 billion.
DKSH Holdings (M) Bhd posted an 11% decline in net profit for its first quarter ended March 31 (1QFY17) to RM10.05 million, from RM11.27 million in the same period last year, on higher operating cost.
Revenue, meanwhile, climbed 3% to RM1.36 billion in 1QFY17, from RM1.33 billion a year ago, lifted by its logistics segment.
MBM Resources Bhd's net profit for the first quarter ended March 31 (1QFY17) rose 5.6% to RM19.43 million from RM18.4 million a year earlier, on higher revenue.
Revenue was 11.8% higher at RM418.07 million, compared with RM373.94 million a year ago, due to exceptional sales of premium vehicles.
Malaysia Building Society Bhd's net profit in the first quarter ended March 31 (1QFY17) nearly tripled to RM101.32 million from RM34.84 million a year ago, thanks to higher gross loans and lower cost of funds.
Revenue saw a marginal 0.17% drop to RM811.2 million, from RM812.63 million a year ago, due mainly to lower financing income from retail segment and lower income from investments in liquid assets.
Parkson Holdings Bhd's net loss widened to RM33.24 million in its third quarter ended March 31 (3QFY17), from RM25.53 million in the previous year, mainly on soft consumer sentiment and losses incurred by the opening of new stores.
Revenue rose 3.34% to RM1.06 billion, from RM1.03 billion a year ago.
For its cumulative nine months (9MFY17), Parkson made a net loss of RM23.15 million versus a net profit of RM6.32 million in the previous year. Revenue decreased slightly to RM2.99 billion, from RM3 billion.
Hap Seng Plantations Holdings Bhd's net profit jumped 105% in its first quarter ended March 31 (1QFY17) to RM34.1 million from RM16.6 million a year ago, thanks to higher crude palm oil and palm kernel selling prices.
Quarterly revenue climbed 38% to RM144.10 million from RM104.16 million last year.
Sunsuria Bhd's net profit for the second quarter ended March 31 (2QFY17) surged more than fivefold to RM18 million, from RM3.15 million on the back of strong sales. Quarterly almost tripled to RM103.68 million from RM38.82 million a year earlier.
The group is venturing into construction, having acquired 51% stake in construction company Prosperspan Construction Sdn Bhd — now known as Sunsuria Asas Sdn Bhd — just last month.
For the first half of FY17 (1HFY17), the group's net profit more than doubled to RM28.64 million, from RM12.56 million a year ago, as revenue about tripled to RM167.48 million from RM56.33 million.
TH Plantations Bhd posted a net profit of RM11.2 million in the first quarter ended March 31 (1QFY17) against losses of RM7.15 million a year ago.
Revenue for the quarter rose to RM166.05 million from RM89.52 million a year earlier. The results came on the back of recovering palm oil production and prices.
http://www.theedgemarkets.com/article/drbhicom-petdag-sentoria-sarawak-cable-fima-corp-eita-resources-uoa-reit-hengyuan-cimb-dksh
