KUALA LUMPUR (Oct 26): Based on corporate announcements and news flow today, stocks in focus on Friday (Oct 27) may include: Public Bank, LCT, Sumatec, TNB, GDex, Cocoaland, Ancom, WZ Satu, Pavilion REIT, TRIplc and Guocoland.
Public Bank Bhd, the country’s third-largest lender by assets, reported a 13.5% rise in third-quarter (3Q) net profit, on higher net interest income and net fee and commission income as well as lower loan impairment allowance.
Net profit for the three months ended Sept 30, 2017 (3QFY17) rose to RM1.4 billion from RM1.24 billion a year ago. Earnings per share increased to 36.38 sen from 32.06 sen in 3QFY16. Quarterly revenue grew 5.6% to RM5.3 billion from RM5.03 billion a year ago.
For the cumulative nine months (9MFY17), Public Bank's net profit rose 7% to RM3.98 billion from RM3.72 billion a year ago. Revenue increased 3.3% to RM15.51 billion from RM15.02 billion in 9MFY16.
Lower sales volume and higher unit production cost pulled down Lotte Chemical Titan Holding Bhd’s (LCT) net profit by 33.9% in the third quarter ended Sept 30, 2017 (3QFY17).
It reported a net profit of RM230.31 million compared with RM348.32 million in 3QFY16. Earnings per share fell to 10.42 sen from 20.16 sen.
Quarterly revenue was basically flat at RM2.02 billion compared with RM2.01 billion.
Still, the lower third-quarter performance dragged its cumulative net profit for the nine months ended Sept 30, 2017 (9MFY17) down by 33% to RM686.08 million from RM1.02 billion in 9MFY16. Revenue also fell 4.7% to RM5.71 billion in 9MFY17 from RM5.99 billion a year ago.
Sumatec Resources Bhd is proceeding with its plan to take full control of the Rakushechnoye oil and gas (O&G) field in Kazakhstan, four months after hinting it may drop the proposal.
The group announced this in a filing with Bursa Malaysia today, saying that it will pay RM1.55 billion to assume full ownership of the O&G field.
The plan, first announced in July 2016, involves the acquisition of Markmore Energy (Labuan) Ltd, which is owned by businessman Tan Sri Halim Saad, who is also a substantial shareholder of Sumatec, for US$205 million (RM867.15 million).
Tenaga Nasional Bhd (TNB) reported a 2.4% decline in net profit for its fourth financial quarter ended Aug 31, 2017 (4QFY17) to RM1.72 billion from RM1.76 billion a year ago, due to an increase in operating expenses.
Earnings per share fell to 30.38 sen from 31.22 sen a year ago.
Quarterly revenue, however, grew 10.9% to RM12.46 billion in 4QFY17 from RM11.24 billion in 4QFY16.
The national utility also proposed a final dividend of 44 sen per share amounting to RM2.49 billion. The book closure and payment dates are to be announced later. This brings its total payout for the year to 61 sen per share or RM3.5 billion — a record-high annual dividend payout.
For its full FY17, TNB reported a 6.3% drop in net profit to RM6.9 billion from RM7.37 billion a year ago.
GD Express Carrier Bhd (GDex) is buying three properties, located in Ipoh, Perak and Mont Kiara and Q-Sentral here, from Abric Bhd for RM19.3 million to generate rental income for the group, as well as for business expansion purposes.
GDex's wholly-owned subsidiary GD Facilities & Assets Management Sdn Bhd has entered into a conditional share sale agreement with Abric to acquire the entire stake in Abric Properties Sdn Bhd that owns the three properties.
Cocoaland Holdings Bhd has been told to pay an additional tax of RM4.06 million plus a 45% penalty of RM1.83 million, arising from a rejected reinvestment allowance it claimed for the years of assessment 2010 to 2014.
The snacks and candy maker said its wholly-owned subsidiary Cocoaland Industry Sdn Bhd (CISB) has been served with a letter from the Inland Revenue Board of Malaysia (IRB) dated Oct 19 this year on the said tax.
Ancom Bhd’s net profit for the first financial quarter ended Aug 31, 2017 (1QFY17) surged 60.2% to RM1.1 million from RM692,000, driven by its agriculture and industrial chemical businesses.
Earnings per share rose to 0.52 sen from 0.32 sen a year ago. Quarterly revenue also increased 17.8% to RM419.53 million in 1QFY17 from RM356.15 million in 1QFY16, primarily driven by the aforementioned businesses.
WZ Satu Bhd has proposed to undertake a bonus issue of up to 158.96 million new shares on the basis of one bonus share for every three existing shares held by qualifying shareholders on an entitlement date to be determined later.
The proposed bonus issue is intended to reward its shareholders, it added.
In a filing with Bursa Malaysia today, WZ Satu said the proposed bonus issue will be implemented after the completion of the proposed disposal by the company of its wholly-owned subsidiary Weng Zheng Trading Sdn Bhd (WZ Trading) to Tan Jing Xin for RM22.8 million cash.
Pavilion Real Estate Investment Trust’s (Pavilion REIT) net property income (NPI) dropped 3.2% to RM78.16 million for the third quarter ended Sept 30, 2017 from RM80.71 million a year earlier, due to higher property operating expenses.
Pavilion REIT declared a distribution per unit (DPU) of 1.96 sen.
Quarterly revenue grew 3.2% to RM121.36 million from RM117.54 million, mainly contributed by the rental income from the Pavilion Kuala Lumpur Mall’s tenants after the repositioning exercise.
For the first nine months of the financial year 2017 (9MFY17), Pavilion REIT posted an NPI of RM233.85 million, a decline of 1.7% from RM237.78 million a year ago, while revenue grew 5.4% to RM360.55 million from RM342.24 million.
TRIplc Bhd net profit for the first quarter ended Aug 31, 2017 (1QFY18) surged to RM6.16 million from RM1.58 million a year earlier, driven by two concessions' income of maintenance activities.
Earnings per share rose to 8.98 sen from 2.34 sen a year ago.
Quarterly revenue jumped to RM22.38 million in 1QFY18 from RM10.87 million in 1QFY17.
Guocoland (M) Bhd’s net profit rose fourfold to RM1.06 million in the first financial quarter ended Sept 30, 2017 (1QFY18) from RM265,000 a year ago, mainly due to contribution from its residential project in Damansara City.
Earnings per share increased to 0.16 sen from 0.04 sen in 1QFY17. Quarterly revenue nearly tripled to RM157.61 million in 1QFY18 from RM53.53 million in 1QFY17.
