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Business & Markets 2012
Written by Joseph Chin of theedgemalaysia.com
Wednesday, 22 February 2012 21:24
KUALA LUMPUR (Feb 23): Property developer Sentoria Group Bhd will be the stock to watch on Thursday, when it makes its debut on the Main Board of Bursa Malaysia.
The property developer is the first company to list in 2012.Its offer of 20 million new shares at an 85 sen each to the public was oversubscribed by 5.4 times.
RHB Research Institute had accorded a fair value of 92 sen based on a 30% discount to its sum-of-parts valuation.
Other stocks which could see trading interest following fresh corporate developments and financial results include AIRASIA BHD , HARTALEGA HOLDINGS BHD , WCT BHD , KENCANA PETROLEUM BHD , TSH RESOURCES BHD , MISC BHD , KUALA LUMPUR KEPONG BHD  (KLK) and PERISAI PETROLEUM TEKNOLOGI  Bhd and IJM CORPORATION BHD .
AirAsia’searnings fell 56.3% to RM135.66 million in the fourth quarter ended Dec 31, 2011 when compared with RM311.08 million a year ago as it was impacted by aircraft fuel expenses, which rose to RM475.07 million from RM292.44 million on-year.
It recorded foreign exchange losses of RM137.38 million compared with forex gain of RM44.29 million a year ago.
For the financial year ended Dec 31, 2011, its net profit fell 46.8% to RM564.14 million from RM1.06 billion in FY10.
Nitrile latex glove maker Hartalega’s earnings rose 3% to RM50.70 million in the third quarter ended Dec 31, 2011 from RM49.20 million a year ago. For the nine months ended Dec 31, 2011, net profit increased 10% to RM151.60 million from RM137.76 million.
It proposed a bonus issue of up to 371.65 million 50 sen shares on a one-for-one basis and free warrants issue of up to 74.331 million free warrants on the basis of one free warrant for every five existing shares held on the entitlement date.
WCT secured a RM331 million contract for a mixed commercial project with a medical centre in Kota Kinabalu.
Kencana secured a RM101 million contract from Murphy Sarawak Oil Co. Ltd for two offshore platforms in Sarawak.
TSH Resources Bhd posted record net profit of RM120.54 million in the financial year ended Dec 31, 2011, an increase of 43% from the RM84.28 million a year ago and its expects the Indonesian oil palm estates to boost future earnings.
As for the fourth quarter ended Dec 31, 2011, net profit fell 39.8% to RM26.15 million from RM43.45 million. TSH said the reduction was primarily due to a foreign exchange loss of RM10.962 million and a RM7.291 million reduction in contributions from jointly controlled entities
MISC suffered net loss of RM1.74 billion in the third quarter ended Dec 31, 2011 compared with net profit of RM1.38 billion a year ago due to recognition of one-off provisions totalling RM1.45 billion.
For the nine-month period, MISC recorded a net loss of RM1.481 billion due to the recognition of one-off provisions totalling RM1.452 billion following its recent decision to exit from the liner business.
Kuala Lumpur Kepong recorded a 12.1% increase in earnings to RM340.98 million in the first quarter ended Dec 31, 2011, boosted mainly by its PLANTATION s business, when compared with RM304.18 million a year ago.
Perisai’s net profits soared 106.8% to RM21.28 million for the financial year ended Dec 31, 2011 from RM10.25 million a year ago, boosted by profit contributed by the Intan Group, which it acquired in August last year. For the year ended Dec 31, 2011, its revenue was up 9.6% to RM82.41 million from RM75.21 million a year ago.
For the fourth quarter ended Dec 31, 2011, Perisai’s earnings 62.3% to RM11.21 million from RM6.93 million.
IJM Corporation’s earnings rose 5.7% to RM135.23 million in the third quarter ended Dec 31, 2011 from RM127.96 million a year ago. Its revenue chalked up 30.1% increase to RM1.172 billion from RM901.34 million. Earnings per share were 9.81 sen compared with 9.47 sen.
IJM Corp said for the nine-month period, its net profit was 1.1% higher at RM325.04 million from RM328.83 million. Its revenue rose at a stronger pace of 23.6% to RM3.303 billion from RM2.672 billion.