Axiata, Genting, Genting Malaysia, UMW, Axiata, Maybank, Public Bank, Sime Darby, Sime Darby Property, Unisem, Kerjaya Prospek, S P Setia, MSM, Matrix Concepts, Dutch Lady, TSH Resources, DNeX, MBSB, MPI, IJM Plantations, PPB, Kenanga Investment, Malaysia
KUALA LUMPUR (Feb 25): Based on corporate announcements and news flow today, companies in focus tomorrow (Feb 26) may include: Axiata Group Bhd, Genting Bhd, Genting Malaysia Bhd, UMW Holdings Bhd, Axiata Group Bhd, Malayan Banking Bhd, Public Bank Bhd, Sime Darby Bhd, Sime Darby Property Bhd, Unisem (M) Bhd, Kerjaya Prospek Group Bhd, S P Setia Bhd, MSM Malaysia Holdings Bhd, Matrix Concepts Holdings Bhd, Dutch Lady Milk Industries Bhd, TSH Resources Bhd, Dagang NeXchange Bhd, Malaysia Building Society Bhd, Malaysian Pacific Industries Bhd, IJM Plantations Bhd, PPB Group Bhd, Kenanga Investment Bank Bhd, Malaysian Resources Corp Bhd, Media Chinese International Ltd, Media Prima Bhd, YTL Corp Bhd, Mah Sing Group Bhd, FGV Holdings Bhd and VS Industry Bhd.
Genting Bhd returned to the black in the fourth quarter ended Dec 31, 2020 (4QFY20) to RM24.98 million from a net loss of RM130.75 million in 3QFY20 as the group’s resort operations resumed. It posted 0.65 sen earnings per share for the quarter under review from loss per share of 3.4 sen. Revenue, however, fell 7.6% to RM3.05 billion from RM3.3 billion. On a year-on-year basis, the group’s net profit plunged 95.27% from RM528.82 million while revenue dropped 45.52% from RM5.3 billion on lower revenue from its leisure and hospitality segment caused by the Covid-19 outbreak. For the full year ended Dec 31, 2020 (FY20), the group posted a net loss of RM1.02 billion from a net profit of RM2 billion a year earlier, while revenue slumped 47% to RM11.56 billion from RM21.62 billion.
Meanwhile, Genting Malaysia Bhd (GENM) said its net loss narrowed to RM240.89 million in 4QFY20 from RM740.64 million in 3QFY20 as the group’s resort operations resumed. The group’s loss per share stood at 4.26 sen versus 12.46 sen previously. Revenue in 4QFY20, however, slid 26.53% to RM1.04 billion from RM1.42 billion. On a year-on-year basis, the RM240.85 million net loss compares to a net profit of RM299.74 million in 4QFY19 on lower revenue from its leisure and hospitality segments. Yearly revenue dropped 57% to RM1.04 billion from RM2.44 billion.For the full year ended Dec 31, 2020, the group registered a net loss of RM2.26 billion from a net profit of RM1.4 billion a year earlier. Full year revenue dropped to RM4.53 billion from RM10.41 billion.
UMW Holdings Bhd’s net profit rose 35.7% to RM137.44 million for the fourth quarter ended Dec 31, 2020 (4QFY20) from RM101.28 million in the preceding quarter. This comes as its three business segments — automotive, equipment, and manufacturing & engineering — saw an improved performance during the recovery Movement Control Order period. The group said revenue rose 21.74% to RM3.24 billion from RM2.67 billion in 3QFY20. On a year-on-year basis, however, UMW’s net profit was 31.48% lower than the RM200.46 million reported in 4QFY19, although revenue rose 3.79% from RM3.12 billion. The higher revenue, it said, was due to higher sales in the automotive segment following the easing of movement restrictions that were implemented to curb the spread of Covid-19. The group has declared a first and final dividend of four sen per share to be paid on April 30. For the full year, net profit more than halved to RM204.6 million from RM454.46 million in FY19. Full-year revenue fell 18.76% to RM9.55 billion from RM11.76 billion, mainly due to lower revenue in all of the its main business segments due to the impact of the pandemic on the group’s operations.
Axiata Group Bhd fell into the red, posting a net loss of RM255.96 million, in its fourth quarter ended Dec 31, 2020 (4QFY20) from RM332.56 million recorded in the previous year on the back of accelerated depreciation and write-off of assets. Meanwhile, earnings per share fell to 2.8 sen from 3.6 sen in the previous year. The multinational telco said its revenue fell slightly by 1.5% to RM6.26 billion from RM6.27 billion due to lower revenues reported by its Malaysia, Indonesia and Nepal operations. The group has also declared a second interim dividend of five sen per share to its shareholders, bringing a total dividend of seven sen per share for the year compared with the total 9.5 sen a year earlier. For the full-year period (FY20), the group's revenue fell 1.5% to RM24.2 billion against RM24.58 billion in the previous year as pandemic-related lockdowns posed distribution challenges and affordability in operating markets.
The group also has agreed to partner with a company for its bid for a digital banking licence and will be announcing the details soon. This was revealed by the telco's newly-appointed chief executive officer Datuk Mohd Izzaddin Idris at the group's financial results virtual briefing today. However, he did not reveal the name of the company.
Higher net impairment losses pulled Malayan Banking Bhd (Maybank)’s net profit down by 37% to RM1.54 billion in the fourth quarter ended Dec 31, 2020 (4QFY20) versus RM2.45 billion in the same quarter a year ago. This caused earnings per share to fall to 13.68 sen compared with 21.79 sen per share a year ago. Revenue for 4QFY20 fell by 6% to RM12.24 billion from RM13 billion in the previous year. This impacted the group’s FY20 performance, as net profit fell 21% year-on-year to RM6.48 billion from RM8.2 billion previously, while revenue fell slightly by 3% to RM51.03 billion compared with RM52.87 billion. Nevertheless, its board has proposed a final single-tier dividend of 38.5 sen per share, comprising an electable portion of 21 sen per share under its dividend reinvestment plan.
Public Bank Bhd's net profit for the fourth quarter ended Dec 31, 2020 (4QFY20) fell 18.35% to RM1.15 billion from RM1.41 billion a year ago, due to higher loan impairment allowance made amid the Covid-19 pandemic. Its quarterly revenue also slipped 13.35% to RM4.92 billion from RM5.67 billion a year ago. The group announced an interim dividend of 13 sen to be payable on March 22. For the full FY20, the group's net profit slid 11.61% to RM4.87 billion from RM5.51 billion a year earlier. Its full-year revenue also declined by 9.58% to RM20.30 billion from RM22.45 billion.
Sime Darby Bhd saw its net profit for the second quarter ended Dec 31, 2020 (2QFY21) more than double to RM633 million from RM282 million in 2QFY20. The conglomerate announced that the rise in quarterly net profit was due to the RM272 million gain on disposal from its 30% stake in Tesco Malaysia. Sime Darby also announced that it has declared six sen worth of dividends for 4QFY20. It declared a first interim dividend of two sen per share and a special dividend of four sen per share. Both dividends are payable on May 11. In contrast, the first half of FY20 (1HFY20) only saw a dividend payout of two sen per share. Its latest quarterly revenue also increased by 10.1% to RM11.24 billion, from RM10.21 billion in the corresponding quarter in the previous financial year. On a quarter-on-quarter (q-o-q) basis, the conglomerate saw its net profit leap to RM633 million, from RM281 million in 1QFY21. Quarterly revenue increased by 3.2% q-o-q to RM11.24 billion. For 1HFY21, Sime Darby's net profit increased by 73.1% year-on-year to RM914 million, from RM528 million in 1HFY20. Half-year revenue also increased by 12.4% to RM22.12 billion, from RM19.69 billion achieved in the first half of the previous financial year.
Sime Darby Property Bhd narrowed its net loss to RM55.93 million in the fourth quarter ended Dec 31, 2020 (4QFY20), from RM355.26 million in 3QFY20, following a gradual recovery in its property development segment. Revenue grew 19% to RM705.19 million from RM592.63 million. The group's performance is comparably weaker than its year-ago quarter when it made a net profit of RM102.96 million, due to losses in its property development, investment and asset management as well as leisure segments attributed to disruptions brought about by the Covid-19 pandemic. Revenue dropped 20.67% from RM888.93 million previously. For the full FY20, the group sank into the red with a net loss of RM478.8 million from a net profit of RM598.53 million in FY19, as annual revenue fell 35.22% to RM2.06 billion from RM3.18 billion.
Unisem (M) Bhd saw its net profit for the fourth quarter ended Dec 31, 2020 (4QFY20) come in 20% higher quarter-on-quarter at RM60.92 million from RM50.74 million in 3QFY20. The semiconductor technology company said this was mainly due to a higher sales volume achieved. Quarterly revenue was 2.4% higher at RM366.37 million in 4QFY20 from RM357.68 million achieved in the immediate preceding quarter. The company announced it had approved a third interim dividend of two sen per share, which is the same amount declared in 4QFY20. On a year-on-year (y-o-y) basis, the group announced that it was back in the black with a net profit of RM60.92 million from a net loss of RM26.85 million. Its latest quarterly revenue was up 28.56% at RM366.37 million from RM284.98 million in 4QFY19. For the full financial year, the group was back in the black with a net profit of RM142.79 million, from a net loss of RM9.54 million. As for its full-year revenue, the group saw a 15.13% increase to RM1.29 billion from RM1.12 billion a year prior.
Kerjaya Prospek Group Bhd’s net profit for the fourth quarter ended Dec 31, 2020 dropped 23.28% to RM27.82 million from RM36.27 million a year earlier, on lower revenue recorded. Earnings per share fell to 2.26 sen from 2.95 sen. The group said its quarterly revenue was down 7.29% at RM248.85 million from RM268.41 million in the previous corresponding period. Overall, the decrease in revenue and profit after tax was mainly attributed to the progress of construction works on site, it noted. For the full year, net profit plunged 35.37% to RM90.59 million from RM140.18 million in the previous year. Full-year revenue fell 23.15% to RM811 million from RM1.06 billion previously, on lower revenue registered in the construction, manufacturing and property development segments.
Property Developer S P Setia Bhd was back in the black in its fourth quarter ended Dec 31, 2020 (4QFY20) with a net profit of RM55.49 million, from a net loss of RM263.43 million in the immediate preceding quarter. The group announced that the return to profitability in its latest financial quarter was on account of the absence of an impairment loss of RM336.3 million from its 40%-owned British joint venture (JV) Battersea Project Holdings Co Ltd. The company's latest quarterly revenue recovered by 3.08% quarter-on-quarter to RM1.11 billion from RM1.08 billion in 3QFY20. On a year-on-year (y-o-y) basis, the group saw its net profit for 4QFY20 drop by 24.03% y-o-y to RM55.49 million from RM73.04 million in 4QFY19. However, despite the decline in its bottom-line earnings, S P Setia's latest quarterly revenue grew by 39.88%. For the full financial year, however, the property developer was in the red with a net loss of RM321.03 million from a net profit of RM353.75 million in the previous financial year. Its full-year revenue also declined to RM3.23 billion from RM3.93 billion in FY19.
MSM Malaysia Holdings Bhd's net loss for the financial year ended Dec 31, 2020 (FY20) narrowed to RM71.23 million from RM299.77 million a year earlier. The sugar producer said revenue for the full year rose to RM2.18 billion from RM2.01 billion a year earlier. MSM posted net profit of RM56.24 million for the fourth quarter ended Dec 31, 2020, compared to net loss of RM40.28 million a year ago, due to higher overall margin and lower finance cost. Revenue for the quarter rose 22% year-on-year to RM630.33 million from RM516.04 million. Earnings per share jumped to eight sen from loss per share 5.73 sen previously.
Matrix Concepts Holdings Bhd's net profit rose to a five-year high of RM75.34 million in the third quarter ended Dec 31, 2020 (3QFY21), 15% higher than RM65.33 million a year ago. The property developer attributed the increased net profit to reduced administrative and general expenses, higher share of results from the group’s joint venture company in Indonesia, and adjustment in tax provision. Earnings per share, accordingly, leapt to 9.03 sen from 7.94 sen in 3QFY20. Meanwhile, the group’s quarterly revenue also rose by 13.1% to RM315.41 million from RM278.96 million a year ago. The group has also declared a dividend of three sen per share which remains unchanged compared to a year ago. It will be paid on April 8. For the nine months ended Dec 31, 2020, Matrix posted a net profit of RM181.46 million, up 1.5% compared with RM178.72 million a year ago, despite revenue decreasing by 8.7% to RM739.44 million from RM810.19 million.
Dutch Lady Milk Industries Bhd’s net profit fell 24% to RM20.16 million in the fourth quarter ended Dec 31, 2020 (4QFY20) against RM26.67 million in the previous year's corresponding quarter, despite a rise in revenue, no thanks to higher global dairy raw material prices. The group's revenue grew a marginal 3% to RM289.14 million from RM281.76 million, its stock exchange filing today showed, as the group managed to operate at full capacity despite the movement restrictions imposed to curb the spread of the Covid-19 pandemic here to drive the penetration of milk consumption among Malaysians. For the full FY20, the group's net profit sank 28.7% to RM73.36 million from RM102.96 million, again despite revenue climbing 3.2% to RM1.1 billion from RM1.07 billion, as cost of sales jumped to RM743.58 million from RM661.94 million.
TSH Resources Bhd’s net profit jumped 76.68% to RM32.95 million in the fourth quarter ended Dec 31, 2020 from RM18.65 million a year earlier, thanks to higher crude palm oil (CPO) and palm kernel prices, partially offset by lower sales contribution from other segments. Earnings per share rose to 2.39 sen from 1.35 sen. Quarterly revenue rose 0.1% to RM195.24 million from RM195.06 million a year ago. TSH declared an interim dividend of 1.5 sen per share, payable on April 1. For the full year, net profit soared 78.63% to RM79.09 million from RM44.28 million in the previous year. Full year revenue rose 8.74% to RM781.67 million from RM718.81 million.
Dagang NeXchange Bhd (DNeX) returned to the black with a net profit of RM15.1 million for the quarter ended Dec 31, 2020 versus a net loss of RM3.73 million recorded in the previous year’s corresponding quarter, helped by an impairment reversal. Revenue for the quarter, however, declined 27% to RM63.33 million from RM87.34 million, no thanks to lower contributions from the trade facilitation & e-commerce business as well as lower progress billing in the system integration & consultancy business. For the 12 months ended Dec 31, 2020, its net profit dropped 96% to RM1.1 million from RM30.04 million a year earlier, while revenue fell 18% to RM239.52 million from RM290.49 million.
Malaysia Building Society Bhd (MBSB)’s net profit fell 73% to RM96.84 million in the fourth quarter ended Dec 31, 2020 (4QFY20) from RM356.69 million recorded in 4QFY19, mainly due to higher allowance for impairment provided in the period. Its quarterly revenue declined to RM752.17 million from RM784.14 million. For FY20, the group’s annual net profit declined 62% to RM269.32 million from RM716.9 million despite a 4.43% uptick in revenue to RM3.15 billion from RM3.01 billion, on higher gain on sale of financial investments. The weaker annual earnings was attributed to higher impairment losses and modification loss as a result of financing moratorium granted to customers last year.
Malaysian Pacific Industries Bhd (MPI) posted a net profit of RM67.04 million for the second quarter ended Dec 31, 2020, up 49% from RM45.1 million a year earlier. Revenue for the quarter grew 17% to RM483.94 million from RM413.76 million in the previous year’s corresponding quarter. MPI said the better performance was due to higher revenue across all of its business segments. For the half-year period, MPI’s net profit also jumped 49% to RM122.35 million from RM81.89 million while revenue increased 18% to RM924.52 million from RM782.86 million.
IJM Plantations Bhd saw its net profit increase by three times to RM66.59 million or earnings per share (EPS) of 7.56 sen in the third quarter ended Dec 31, 2020 (3QFY21) from RM20.06 million or EPS of 2.28 sen a year ago on higher commodity prices. The increase in revenue, however, was capped by lower sales and production of fresh fruits bunches (FFB) due to the effects of adverse weather conditions as well as revision of the crude palm oil (CPO) export levy and export tax by the Indonesian authorities which came into effect from Dec 10, 2020, resulting in reduced revenue of RM7.5 million for December. For the cumulative nine months ended Dec 31, 2020 (9MFY21), its cumulative net profit improved significantly to RM147.67 million from RM12.96 million a year ago, while revenue rose 26.77% to RM689.31 million from RM543.74 million.
PPB Group Bhd's fourth-quarter (4Q) net profit increased 10.13% to RM385.39 million from RM349.95 million a year earlier, partly helped by profit contribution from 18.5%-owned Singapore-listed Wilmar International Ltd as conglomerate PPB's revenue fell due to the impact of the Covid-19-driven movement restrictions to curb the spread of the outbreak. PPB said its 4QFY20 revenue fell to RM1.13 billion from RM1.18 billion. For 4QFY20, PPB declared dividends of 38 sen a share comprising a final dividend of 22 sen and special payout of 16 sen. PPB said the 38 sen dividends brought the group's full-year FY20 dividends to 46 sen a share. For the full year, PPB said cumulative FY20 net profit was up at RM1.32 billion from RM1.15 billion a year earlier, although revenue was down at RM4.19 billion from RM4.68 billion.
Kenanga Investment Bank Bhd's net profit soared 351% to RM39.29 million in the fourth quarter ended Dec 31, 2020 (4QFY20) from RM8.71 million a year earlier, supported by higher contributions from its stockbroking, investment management businesses and higher share of profit through its joint venture with Rakuten Trade. The financial services company highlighted its revenue grew 67% to RM276.82 million compared with RM166.16 million due to higher trading and investment income reported in the quarter. Earnings per share jumped to 5.56 sen from 1.25 sen as a result. For the full year (FY20), the group's net profit jumped to RM102.08 million from RM26.39 million while its revenue went up by 50% to RM973.76 million from RM651.27 million. Earnings per share rose to 14.56 sen from 3.78 sen.
Malaysian Resources Corp Bhd (MRCB)’s net profit surged 346% to RM26.89 million for the fourth quarter ended Dec 31, 2020 from RM6.03 million in the previous year’s corresponding quarter. Revenue for the quarter fell 34% to RM308.92 million from RM471.63 million. For the cumulative four quarters, the group posted a net loss of RM176.14 million versus a net profit of RM23.74 million in the previous year, while revenue declined 9.1% to RM1.19 billion from RM1.32 billion.
Media Chinese International Ltd's net profit for the third quarter ended Dec 31, 2020 (3QFY21) plunged 59.17% to RM5.58 million from RM13.66 million a year ago amid a 44.05% fall in revenue to RM126.39 million, from RM225.88 million a year ago. The group said that for the cumulative nine months ended Dec 31, 2020, it slipped into the red with a net loss of RM14.1 million from a net profit of RM35.55 million a year earlier, as its revenue plummeted 57.14% to RM345.68 million from RM806.45 million.
Media Prima Bhd returned to the black with a net profit of RM18.84 million for the fourth quarter ended Dec 31, 2020 (4QFY20), from a net loss of RM104.46 million a year ago, underpinned by lower operating expenses achieved through its cost optimisation initiatives. This is the media group’s second consecutive quarterly profit for the financial year ended Dec 31, 2020 (FY20). Its quarterly revenue, however, slipped 2.1% to RM298.09 million, from RM304.63 million a year ago, dragged mainly by broadcasting and publishing segments. For FY20, the group’s net loss narrowed 90% year-on-year to RM18.38 million from RM177.85 million, driven by the group’s transformation exercise which contributed to lower operating expenses in FY20. Its revenue, however, fell 6.3% to RM1.04 billion, from RM1.11 billion a year earlier.
YTL Corp Bhd’s net profit jumped more than 12 times to RM16.09 million in the second quarter ended Dec 31, 2020, from RM1.29 million in the preceding quarter, thanks to a strong showing by its multi-utilities business segment in Singapore. Revenue increased 10% to RM4.59 billion from RM4.18 billion in 1QFY21 due to the better performance in its merchant multi-utilities business segment in Singapore. On a year-on-year basis, however, net profit fell 8.24% from RM17.54 million in 2QFY20 while revenue was down 17.17% from RM5.54 billion. For the first half of FY21, net profit fell to RM17.39 million from RM32.85 million in the previous corresponding period, while revenue dropped to RM8.77 billion from RM10.83 billion.
Mah Sing Group Bhd's net profit increased by 4.19% to RM28.13 million in the fourth quarter ended Dec 31, 2020 (4QFY20) against RM27 million posted in 3QFY20, as it saw higher contributions from M Vertica and M Centura. Quarterly revenue rose 21.78% to RM472.78 million from RM388.22 million in 3QFY20. On a year-on-year basis, however, the company's net profit fell 37.46% from RM45 million in 4QFY19, despite revenue growing 6.81% from RM442.64 million, as cost of sales rose 14.74% to RM369.85 million from RM322.32 million. Notwithstanding the weaker year-on-year earnings, Mah Sing proposed its first and final dividend of 1.66 sen per share for FY20, down 53% from the 3.55 sen it paid for FY19. For the full FY20, the group's net profit halved to RM100.39 million from RM200.33 million in FY19, with annual revenue shrinking 14.47% to RM1.53 billion from RM1.79 billion as its property development, plastics and hotel businesses were affected by the pandemic outbreak.
The Federal Land Development Authority (Felda) has raised its equity interest in FGV Holdings Bhd to 2.78 billion shares or a 76.32% stake via its takeover offer. Felda and persons acting in concert with it have received valid acceptances for another 821.11 million shares or 22.51% stake in FGV as of today, according to a statement issued on behalf of Felda. They have also received acceptances for 3.28 million shares that represent a 0.09% interest in FGV, which are still subject to verification, the statement issued by Maybank Investment Bank Bhd said. Felda has now extended the closing date for the acceptance of the takeover offer to March 15, stressing that this is the final extension.
Electronics manufacturing services provider VS Industry Bhd plans to undertake a bonus issue with free warrants, on the basis of one bonus share for every one VS share (1-for-1) held at an entitlement date to be fixed, followed by one free warrant for every five VS shares (1-for-5) held. The proposed bonus issue, said VS Industry managing director Datuk SY Gan in a statement today, is an alternative avenue for the group to reward its shareholders, aside from dividends, and will improve the marketability and trading liquidity of the group's shares. As for the free warrants, which will be issued after the bonus shares, Gan said they could potentially provide additional funds to the group for working capital, and to fund potential investment and repay bank borrowings when the warrants are exercised.
https://www.theedgemarkets.com/article/axiata-genting-genting-malaysia-umw-maybank-public-bank-sime-darby-sime-darby-property
