Report Card Time - Pantech, Ramunia aka TH HEaVY

Pantech Q2 pre-tax profit rises to RM22.7m
Pantech Group Holdings Bhd's pre-tax profit for the second quarter ended Aug 31, 2012, rose to RM22.67 million when compared to the RM9.8 million recorded in the same period last year. Revenue also increased to RM164.11 million from the RM100.58 million recorded previously, Pantech Group said in a filing to Bursa Malaysia today. "With the trading division operating expenses closely controlled and comparable to last year's corresponding period, the higher revenue generated by it, translated to a higher pre-tax profit. "The higher revenue is mainly due to improved sales demand from the oil and gas sector or with active ongoing and new projects," it added. With the recent oil and gas discoveries offshore Malaysia and the ongoing oil and gas investment under the Economic Transformation Programme (ETP) announced by the Malaysian government, the group expects its overall performance for the current financial year to remain satisfactory. -- Bernama

TH Heavy Engr posts higher Q3 pre-tax profit
TH Heavy Engineering Bhd recorded a pre-tax profit of RM4.3 million on the back of RM46.6 million in revenue for the third quarter (Q3) ended Sept 30, 2012. For the nine months period, it posted pre-tax profit of RM23.9 million and revenue of RM116.7 million, it said in a filing to Bursa Malaysia. The company, formerly known as Ramunia Holdings Bhd, had changed its financial year from Oct 31 to Dec 31, commencing from the financial period ending Dec 31, 2011. The group said it had an outstanding order book of RM170 million as at Oct 1, 2012. Going forward, TH Heavy said new prospective works are expected in the fourth quarter which will add positively to both the next quarters results and that of the next financial year. "With this current work and new prospective projects to be secured, the group is confident of delivering positive overall results from its operations at the Pulau Indah Yard," it said. -- Bernama