KUALA LUMPUR (Jan 25): Based on corporate announcements and news flow today, stocks in focus tomorrow could include Spritzer Bhd, IGB Real Estate Investment Trust, Genting Plantations Bhd, Hua Yang Bhd, Magna Prima Bhd, Gadang Holdings Bhd, Zhulian Corp Bhd, CCM Duopharma Biotech Bhd and Stone Master Corp Bhd.
Spritzer Bhd, famous for its bottled mineral water products, reported a net profit of RM5.26 million or 3.13 sen per share in the three months ended Nov 30, 2016, with revenue of RM81.07 million.
As the company has changed its financial year-end from May 31 to Dec 31 in June, there was no bottomline figures provided for comparison, according to its bourse filing today.
Revenue-wise, however, the company said there was a 24% improvement from the same quarter last year, mainly from increased sales volume for both bottled water products and packaging materials.
For the cumulative six months ended Nov 30, 2016, Spritzer recorded a net profit of RM11.93 million or 7.15 sen per share, backed by revenue of RM159.67 million, which is up 21% from RM132.3 million in the same period last year.
IGB Real Estate Investment Trust’s (IGB REIT) net property income in the fourth quarter ended Dec 31, 2016 (4QFY16) rose 13% to RM91.48 million from RM81.23 million a year ago, on higher rental income and lower utilities and property upgrade expenses.
For its second half ended Dec 31, 2016 (2HFY16), the trust declared an income distribution of RM150.3 million or 4.3 sen per unit, payable on Feb 28, versus 3.72 sen in the same period last year.
Its quarterly distributable income amounted to RM79.66 million, compared with RM61.22 million a year ago.
Net profit was up 32% to RM70.29 million from RM53.13 million previously, while revenue rose 3% to RM125.654 million from RM121.433.
Genting Plantations Bhd (GenP)’s 73.68% indirect unit in Indonesia, Palma Citra Investama Pte Ltd, plans to dispose of a 95% stake in PT Permata Sawit Mandiri to PT Suryaborneo Mandiri (PT SM) for US$3.2 million.
In a filing with Bursa Malaysia today, GenP said Palma Citra and PT SM signed a conditional sale and purchase agreement in a related party transaction, in which PT Permata Sawit would cease to be its indirect 70%-owned subsidiary.
Palma Citra plans to use the proceeds to partly settle amounts owing to holding company Palmindo Holdings Pte Ltd, which in turn would utilise the sum to fund a proposed joint venture plantation development.
PT SM is wholly-owned by PT Sepanjang Group which owns a 26.31% stake in Palmindo.
The proposed disposal to the Sepanjang Group will allow GenP, through Palma Citra to recover all sums invested in PT SM. It is expected to be completed in the first quarter of 2017.
Hua Yang Bhd announced it has acquired 36 million shares in Magna Prima Bhd, equivalent to a 10.84% stake, for a purchase consideration of RM66.6 million, via an off-market direct business transaction.
The group said the acquisition is part of its objective to invest in strategic landbank, noting Magna Prima’s landbanks in Klang Valley which presents an opportunity for further collaboration between the two developers.
According to Hua Yang’s bourse filing, some 18.63 million shares were acquired from Chun Yee Ying, and the balance 17.37 million shares were acquired from Chun Mei Ngor, at a consideration of RM1.85 per share.
The price tag offers a 13% premium over Magna Prima’s closing price of RM1.63 today.
Gadang Holdings Bhd’s net profit rose 57.5% to RM23 million or 10.62 sen per share for the second quarter ended Nov 30, 2016 (2QFY17), from RM18 million or 7.4 sen per share a year ago.
The company said this was mainly due to improved profit margins from construction activities and higher contributions from the property division.
Revenue climbed 45% to RM147.9 million from RM102 million in 2QFY16, it said in a filing with Bursa Malaysia today.
For the cumulative six months (6MFY17), Gadang’s net profit rose 15.6% to RM44.6 million or 16.97 sen per share, from RM38.6 million or 16.12 sen per share for 6MFY16. Revenue went up 0.44% to RM252.5 million from RM251.4 million in 6MFY16.
Zhulian Corp Bhd saw its net profit jump 63% to RM20.47 million or 4.45 sen per share for the fourth quarter ended Nov 30, 2016 (4QFY16), from RM12.53 million or 2.72 sen per share in 4QFY15.
This was despite a 20% fall in revenue to RM51.91 million from RM64.76 million.
Its financial statements showed that the group netted a foreign exchange gain of RM20.74 million for 4QFY16, compared with a gain of RM1.21 million in 4QFY15.
For the full-year period, net profit fell 22% to RM41.6 million from RM53.05 million in the preceding year, as revenue declined 15% to RM191.3 million from RM225.91 million.
CCM Duopharma Biotech Bhd announced that its wholly-owned subsidiary, CCM Pharmaceuticals Sdn Bhd, has been awarded a RM300.04 million contract by the Health Ministry to supply human insulin to all government hospitals and clinics in Malaysia.
In a filing with Bursa Malaysia this afternoon, CCM Duopharma said the contract is valid for three years, which had commenced from Dec 2, 2016, and will last until Dec 1, 2019.
CCM Pharmaceutical is the reseller of human insulin, which is manufactured by Biocon Sdn Bhd in Nusajaya, Johor.
“The company wishes to highlight that the terms of the letter of award will be formalized through the execution of a formal agreement between CCM Pharmaceutical, Biocon and MOH at a later date,” it said in a statement, adding that “nevertheless, the supply of the products to the Ministry of Health has already commenced.”
Stone Master Corp Bhd said it will be unable to release its annual report for the year ended Sept 30, 2016 (FY16) by end January, as it was unable to finalise the consolidation of its audited accounts.
The delay, said the loss-making marble and granite products manufacturer, was due to the substantial outstanding issues it faced in consolidating the financial accounts with one of its subsidiaries S.P. Granite Sdn Bhd, as well as other auditing matters.
Stone Master’s auditor is Messrs Baker Tilly Monteiro Heng, which was re-appointed during the company’s annual general meeting on March 31, 2016 in Kota Kinabalu.
According to Bursa Malaysia’s Listing Rule 9.23(1), listed companies are required to submit the annual report to the shareholders within four months from the close of the financial year.
This means that the deadline for Stone Master to submit its 2016 annual report is Jan 31, 2017. If it is still unable to file the report within five days after Jan 31, then its shares will be suspended beginning Feb 10.
Stone Master said it is targeting to issue the report on Feb 8.
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