Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 27 February 2013 20:37
KUALA LUMPUR (Feb 27): With corporate results flooding the market, some stocks that may attract investor attention on Thursday (Feb 28) are TM, Sime Darby, PPB, Jaya Tiasa, Kulim, Tradewinds Corp, Mah Sing, Panasonic, China Stationery, Time dotcom.
TELEKOM MALAYSIA BHD [] (TM) posted a 39% drop in net profit for the fourth quarter ended December 31, 2012 (4QFY12) from a year earlier, mainly on a plunge in income from deferred tax assets.
TM had registered deferred tax income of RM31.4 million during the quarter compared to RM379.9 million a year earlier.
TM said net profit came to RM363.25 million in 4QFY12 versus RM598.3 million previously although revenue rose to RM2.81 billion from RM2.45 billion.
Full-year net profit climbed to RM1.26 billion from RM1.19 billion a year earlier while revenue increased to RM9.99 billion from RM9.15 billion.
TM plans to reward shareholders with a 12.2 sen a share dividend in 4QFY12.
SIME DARBY BHD [] posted a net profit of RM708.5 million for the second quarter ended Dec 31, 2012 (2Q FY2012/13), a fall of 35.6% year-on-year, due mainly to lower palm oil prices in its PLANTATION [] division.
For the half year ended Dec 31, 2012, the diversified group said it registered a net profit of RM1.7 billion, a fall of 22% year on year.
The company announced an interim dividend of 7 sen per share.
In a press statement, Sime Darby's president Datuk Mohd Bakke Salleh said despite the general slowdown in some of the sectors, the company has made strides in operational efficiencies, particularly in our plantations.
"Given our well-diversified businesses, I am confident that we will be able to achieve the targets set for the full financial year 2012/2013," said Mohd Bakke.
PPB GROUP BHD [] posted a net profit of RM306 million for its fourth quarter ended 31 Dec, 2012, an increase of 46% over RM209.3 million netted a year earlier due to improved performance in grains trading, flour and feed milling.
Its revenue in the same period also registered a growth to RM782.6 million, from RM744.2 million previously.
The company declared a dividend of 13 sen.
For the full year of 2012, PBB posted a net profit of RM842.2 million, down from 2011's RM 980.4 million. Its 2012 revenue increased to RM3 billion from 2.7 billion.
PPB said it will perform well in the financial year 2013. It added that the group's overall financial results for 2013 will continue to hinge largely on the business performance of an associate, Singapore-listed Wilmar International Ltd.
JAYA TIASA HOLDINGS BHD [] posted a net profit of RM2.9 million for its second quarter ended Dec 31 (2Q13), a sharp fall compared to the RM56.8 million it netted in the previous corresponding quarter.
The group attributed profit fall to lower selling prices of logs, plywood, fresh fruit bunch and crude palm oil prices.
For the quarter under review, the group's revenue increased by 13.5% to RM286.2 million as compared with RM252.1 million in the previous corresponding quarter, on the back of an improvement in the sales volume of logs and plywood.
Kulim Bhd reported a RM1.28 billion net loss in the fourth quarter ended December 31, 2012 (4QFY2), mainly on impairment losses of its associates and lower palm oil prices.
In the fourth quarter of 2011, Kulim posted a net profit of RM120.55 million.
The company's full-year net profit, however, rose to RM846.07 million against RM565.01 million a year earlier.
Looking ahead, Kulim expects CPO prices to recover in FY13, albeit at lower levels than prices in FY12.
TRADEWINDS CORPORATION BHD []'s net losses for its fourth quarter to December 2012 widened to RM126.3 million, from a loss of RM27.5 million a year ago.
The group's fourth quarter revenue, however, remained flat at RM138.2 million compared to the previous year.
According to the company's statement to the stock exchange, losses were due to an impairment of hotel property of RM86.1 million, investment PROPERTIES [] of RM12.5 million and the writing off of hotel properties amounting to RM41 million.
Tradewinds Corp's 2012 full year net losses deepened to RM317.16 million, from a net loss of RM6.29 million a year ago. Revenue was lower by 1.7% from the previous year at RM514.8 million.
MAH SING GROUP BHD [] reported a net profit of RM55.4 million in its fourth quarter ended December 31, 2012, a jump of 35% over the same quarter last year, on the back of RM441.4 million in revenue.
Its full year net profit stood at RM230.6 million, up 37% a year earlier, on increased revenue of RM1.78 billion.
The group declared a final dividend of 7.5 sen for the financial year ended Dec 31, 2012.
Mah Sing, in a statement, said it has set its sales target of RM3 billion for 2013, a 20% increase from last year, in line with their existing scale of operations with 40 projects.
Panasonice Manufacturing Malaysia Bhd recorded a net profit of RM25 million for its third quarter ended Dec 31, a 26.6% rise from RM19.8 million in the previous corresponding quarter.
Panasonic achieved revenue of RM242.0 million, an increase of 8.3% as compared with the revenue of RM223.4 million registered in the previous year.
Looking ahead, Panasonic said it expected the improved sales to continue. "The company will continue to optimise its cost efficiencies and enhance its business processes to deliver a better performance," it said.
China Stationery Limited posted a net profit of RM33.24 million in its fourth quarter ended Dec 31, 2012, a year-on-year fall of 53%, due mainly to increase in advertisement cost, impairment loss on the quoted share and project management fee.
The integrated plastic stationery company registered revenue of RM225 million, down from 2011's RM237.6 million.
For the full year 2012, China stationery recorded a net profit of RM226.7 million, an increase of 0.17% from RM220.6 million reported in 2011.
In a press release today, the company said that this was on the back of a 11.6% rise in revenue to RM964.6 million from RM842.6 million recorded a year ago, mainly attributed to the higher sales in its patented and non-patented products.
TIME DOTCOM BHD []'s (TDC) net profit more than tripled to RM91.27 million in the fourth quarter ended December 31, 2012 (4QFY12) from a year earlier as higher revenue and investment income besides income from tax assets lifted the telecommunication network operator's bottom line.
TDC said this compares to a net profit of RM25.17 million previously. Revenue rose to RM121.83 million from RM83.18 million.
Full-year net profit jumped to RM193.73 million from RM117.35 million a year earlier while revenue increased to RM419.09 million from RM313.87 million.
In 4QFY12, TDC recorded a deferred tax asset of RM39.75 million against a tax expense of RM426,000 a year earlier.
Looking ahead, TDC said the group will continue to grow market share in FY13 by improving its offerings, and increase operational and cost efficiencies to grow its bottom line.