KUALA LUMPUR (June 13): Based on corporate announcements and news flow today, stocks in focus tomorrow (Wednesday, June 14) may include: Felda Global Ventures Holdings Bhd (FGV), Vivocom International Holdings Bhd, Bermaz Auto Bhd (BAuto), KPJ Healthcare Bhd, V.S. Industry Bhd, Kimlun Corp Bhd, Hektar Real Estate Investment Trust (Hektar REIT) and PRG Holdings Bhd.
Felda Global Ventures Holdings Bhd's (FGV) board of directors has served show cause letters to its president cum chief executive officer Datuk Zakaria Arshad and chief financial officer Ahmad Tifli Mohd Talha, after they were forced to go on leave last Tuesday.
This is in relation to the long outstanding debt of Safitex Trading LLC with FGV's subsidiary Delima Oil Products Sdn Bhd.
"They have been given seven days from today to provide a written reply pertaining to the allegations mentioned in the show-cause letters and shall continue to be on leave of absence until further notice from the board," FGV said.
Vivocom International Holdings Bhd has bagged a RM195.23 million contract to construct condominium blocks under the 1Malaysia Civil Servants’ Housing Programme (PPA1M) in Perak.
The group said the contract from SBA Property Management Sdn Bhd is for the building of four blocks of 1,200 PPA1M condominium units in Manjung.
The project will commence upon site possession and completed within 42 months
Bermaz Auto Bhd (BAuto), which distributes Mazda vehicles in Malaysia and the Philippines, saw its net profit decline 57% to RM22.21 million for the fourth financial quarter ended April 30, 2017, from RM51.62 million a year ago, on lower revenue and compressed profit margin, as the ringgit continued to weaken against the yen.
"The contraction in profit margin was also partly caused by the Mazda CX-5 run-out programme, as more sales incentives were given for this model during the current quarter under review, in anticipation of the arrival of the all new CX-5 model in the last quarter of this calendar year," said BAuto.
Revenue fell 33.8% to RM354.03 million, from RM534.71 million, mainly due to lower domestic sales volume, as the rising cost of living and weak job market have caused consumer demand to be sluggish.
Nevertheless, the group declared a fourth interim dividend of 3.15 sen per share, payable on July 26.
Net profit for the full year dropped 39.8% to RM119.05 million, from RM197.63 million in FY16, whereas revenue fell 20.8% to RM1.66 billion, from RM2.1 billion, mainly due to lower sales volume recorded by both the domestic and Philippines operations.
KPJ Healthcare Bhd’s 60.56%-owned subsidiary Perdana Specialist Hospital Sdn Bhd (PSHSB) is acquiring an office building in Kota Bharu, Kelantan for RM6.8 million.
KPJ said PSHSB, which operates the KPJ Perdana Specialist Hospital, is buying the 938-sq metre office premises, located adjacent to the hospital, from KTC Convention and Apartment Sdn Bhd.
The acquisition, KPJ said, is to enable PSHSB to expand and complement the business operations of KPJ Perdana Specialist Hospital.
V.S. Industry Bhd’s net profit rose by 2.6 times to RM50.5 million in the third financial quarter ended April 30, 2017 (3QFY17), from RM19.31 million a year ago, on higher sales orders from its clients in Malaysia, Indonesia and China.
Revenue climbed 68.2% to RM854.11 million in 3QFY17, from RM507.84 million in 3QFY16.
It declared a third interim dividend of 1.5 sen per share, payable on July 28.
For the cumulative nine months (9MFY17), V.S. Industry recorded an 11.7% increase in net profit to RM119.51 million, from RM106.98 million in 9MFY16, while revenue rose 41.7% to RM2.3 billion from RM1.62 billion.
Malaysia remained V.S. Industry’s primary revenue contributor at 67.8%, followed by China (27.3%) and Indonesia (4.9%).
Kimlun Corp Bhd is expecting a flattish performance in terms of its revenue and profit for the financial year ending Dec 31, 2017 (FY17), due to the substantial completion of some larger size construction projects in FY17, as well as the Tunnel Link Segment supply and segmental box girders for the Klang Valley Mass Rapid Transit system line 2 project, which is expected to only pick up in the later part of FY17, explained its chief executive officer Sim Tian Liang.
For 1QFY17, the company registered a lower net profit of RM15.38 million, from RM17.1 million in 1QFY16. Revenue dropped 27.5% to RM170.18 million, from RM234.8 million.
Speaking to reporters after its annual general meeting today, Sim said the company has an annual target for replenishment of new construction orders of between RM600 million and RM800 million.
Currently, Kimlun’s order book stands at slightly more than RM500 million worth of contract uptake this year and is hoping to see an increase of contracts for the remaining half of the year.
“For the remaining half [of the year], we will see some affordable housing projects and some KL developer launching some projects and LRT,” said Sim.
Hektar Real Estate Investment Trust (Hektar REIT) is actively looking to acquire more assets outside of Klang Valley, to bolster its financial performance.
Hektar Asset Management Sdn Bhd (the manager of Hektar REIT) chief executive officer Datuk Hisham Othman said the retail-centric REIT was always looking at assets with good yields, especially outside of Klang Valley.
Hektar REIT's shopping mall portfolio includes Subang Parade in Selangor and Mahkota Parade in Melaka. In Johor, the REIT, which owns Wetex Parade in Muar, is in the midst of acquiring the 1Segamat Shopping Centre.
PRG Holdings Bhd is exploring joint venture opportunities with Syarikat Perumahan Negara Bhd (SPNB) on affordable housing projects nationwide, with combined gross development value (GDV) of RM5 billion.
PRG signed a memorandum of understanding today with SPNB, together with project consultant Mimbar Nusantara Sdn Bhd, to collaborate on the projects.
They will focus on Klang Valley, Johor and possibly East Malaysia as well.
Under the MoU, PRG will be involved in the construction and development of the housing projects.
Mimba Nusantara — which has participated in several affordable housing projects with SPNB — will focus on project coordination and consultation.
SPNB, wholly-owned by the Ministry of Finance Inc, has a mandate to offer affordable homes, with programmes such as Rumah Mampu Milik and Program Mesra Rakyat under its helm.
The manufacturing company began diversifying into property development and construction in 2014, by building apartments such as the luxurious Picasso Residences.
http://www.theedgemarkets.com/article/fgv-vivocom-bauto-kpj-healthcare-vs-industry-kimlun-hektar-reit-and-prg-holdings
Felda Global Ventures Holdings Bhd's (FGV) board of directors has served show cause letters to its president cum chief executive officer Datuk Zakaria Arshad and chief financial officer Ahmad Tifli Mohd Talha, after they were forced to go on leave last Tuesday.
This is in relation to the long outstanding debt of Safitex Trading LLC with FGV's subsidiary Delima Oil Products Sdn Bhd.
"They have been given seven days from today to provide a written reply pertaining to the allegations mentioned in the show-cause letters and shall continue to be on leave of absence until further notice from the board," FGV said.
Vivocom International Holdings Bhd has bagged a RM195.23 million contract to construct condominium blocks under the 1Malaysia Civil Servants’ Housing Programme (PPA1M) in Perak.
The group said the contract from SBA Property Management Sdn Bhd is for the building of four blocks of 1,200 PPA1M condominium units in Manjung.
The project will commence upon site possession and completed within 42 months
Bermaz Auto Bhd (BAuto), which distributes Mazda vehicles in Malaysia and the Philippines, saw its net profit decline 57% to RM22.21 million for the fourth financial quarter ended April 30, 2017, from RM51.62 million a year ago, on lower revenue and compressed profit margin, as the ringgit continued to weaken against the yen.
"The contraction in profit margin was also partly caused by the Mazda CX-5 run-out programme, as more sales incentives were given for this model during the current quarter under review, in anticipation of the arrival of the all new CX-5 model in the last quarter of this calendar year," said BAuto.
Revenue fell 33.8% to RM354.03 million, from RM534.71 million, mainly due to lower domestic sales volume, as the rising cost of living and weak job market have caused consumer demand to be sluggish.
Nevertheless, the group declared a fourth interim dividend of 3.15 sen per share, payable on July 26.
Net profit for the full year dropped 39.8% to RM119.05 million, from RM197.63 million in FY16, whereas revenue fell 20.8% to RM1.66 billion, from RM2.1 billion, mainly due to lower sales volume recorded by both the domestic and Philippines operations.
KPJ Healthcare Bhd’s 60.56%-owned subsidiary Perdana Specialist Hospital Sdn Bhd (PSHSB) is acquiring an office building in Kota Bharu, Kelantan for RM6.8 million.
KPJ said PSHSB, which operates the KPJ Perdana Specialist Hospital, is buying the 938-sq metre office premises, located adjacent to the hospital, from KTC Convention and Apartment Sdn Bhd.
The acquisition, KPJ said, is to enable PSHSB to expand and complement the business operations of KPJ Perdana Specialist Hospital.
V.S. Industry Bhd’s net profit rose by 2.6 times to RM50.5 million in the third financial quarter ended April 30, 2017 (3QFY17), from RM19.31 million a year ago, on higher sales orders from its clients in Malaysia, Indonesia and China.
Revenue climbed 68.2% to RM854.11 million in 3QFY17, from RM507.84 million in 3QFY16.
It declared a third interim dividend of 1.5 sen per share, payable on July 28.
For the cumulative nine months (9MFY17), V.S. Industry recorded an 11.7% increase in net profit to RM119.51 million, from RM106.98 million in 9MFY16, while revenue rose 41.7% to RM2.3 billion from RM1.62 billion.
Malaysia remained V.S. Industry’s primary revenue contributor at 67.8%, followed by China (27.3%) and Indonesia (4.9%).
Kimlun Corp Bhd is expecting a flattish performance in terms of its revenue and profit for the financial year ending Dec 31, 2017 (FY17), due to the substantial completion of some larger size construction projects in FY17, as well as the Tunnel Link Segment supply and segmental box girders for the Klang Valley Mass Rapid Transit system line 2 project, which is expected to only pick up in the later part of FY17, explained its chief executive officer Sim Tian Liang.
For 1QFY17, the company registered a lower net profit of RM15.38 million, from RM17.1 million in 1QFY16. Revenue dropped 27.5% to RM170.18 million, from RM234.8 million.
Speaking to reporters after its annual general meeting today, Sim said the company has an annual target for replenishment of new construction orders of between RM600 million and RM800 million.
Currently, Kimlun’s order book stands at slightly more than RM500 million worth of contract uptake this year and is hoping to see an increase of contracts for the remaining half of the year.
“For the remaining half [of the year], we will see some affordable housing projects and some KL developer launching some projects and LRT,” said Sim.
Hektar Real Estate Investment Trust (Hektar REIT) is actively looking to acquire more assets outside of Klang Valley, to bolster its financial performance.
Hektar Asset Management Sdn Bhd (the manager of Hektar REIT) chief executive officer Datuk Hisham Othman said the retail-centric REIT was always looking at assets with good yields, especially outside of Klang Valley.
Hektar REIT's shopping mall portfolio includes Subang Parade in Selangor and Mahkota Parade in Melaka. In Johor, the REIT, which owns Wetex Parade in Muar, is in the midst of acquiring the 1Segamat Shopping Centre.
PRG Holdings Bhd is exploring joint venture opportunities with Syarikat Perumahan Negara Bhd (SPNB) on affordable housing projects nationwide, with combined gross development value (GDV) of RM5 billion.
PRG signed a memorandum of understanding today with SPNB, together with project consultant Mimbar Nusantara Sdn Bhd, to collaborate on the projects.
They will focus on Klang Valley, Johor and possibly East Malaysia as well.
Under the MoU, PRG will be involved in the construction and development of the housing projects.
Mimba Nusantara — which has participated in several affordable housing projects with SPNB — will focus on project coordination and consultation.
SPNB, wholly-owned by the Ministry of Finance Inc, has a mandate to offer affordable homes, with programmes such as Rumah Mampu Milik and Program Mesra Rakyat under its helm.
The manufacturing company began diversifying into property development and construction in 2014, by building apartments such as the luxurious Picasso Residences.
http://www.theedgemarkets.com/article/fgv-vivocom-bauto-kpj-healthcare-vs-industry-kimlun-hektar-reit-and-prg-holdings
