Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 24 April 2013 19:40
KUALA LUMPUR (April 24): Based on news flow and exchange filings, the stocks to watch tomorrow could include REDtone, rubber gloves, Datasonic, Technodex, PetDag, Pavilion REIT, Unisem and Tambun Indah.
REDTONE INTERNATIONAL BHD []’s third quarter net profit was nine times greater than the previous corresponding quarter, thanks to its data and broadband business.
The telco player said net profit for its third quarter ended February 28, 2013 (3QFY13) stood at RM3.92 million. Last year, net profit came in at RM427,000.
REDtone’s revenue in 3QFY13 was RM40.48 million, or 71.67% higher than the previous corresponding period’s RM23.58 million.
Its data business contributed 59% of the company’s revenue in 3QFY13. “The group's repositioning from primarily a voice business to data and broadband has again shown positive results in the third quarter. After recording losses for the past four years, the Group returned to profitability since 4QFY12,” said REDtone.
REDtone said it expects to maintain its growth momentum.
Rubber glove makers could be of interest to investors as the first reported case of H7N9 strain of bird flu occurred in Taiwan -- outside of mainland China.
A 53-year-old was diagnosed with the H7N9 virus and was in serious condition three days after returning from Suzhou on April 9, Health Department Minister Wen-Ta Chiu told a news conference, Reuters reported.
As of Tuesday, 108 people have contracted the disease on the mainland and 22 deaths have been reported.
Datasonic Group Bhd proposes to undertake a bonus issue of 45 million new shares on the basis of one bonus share for every two existing shares.
The information and communications TECHNOLOGY [] company said the bonus issue is to reward its shareholders and increase the number of its shares.
TECHNODEX BHD [] announced that its wholly owned unit Technodex Solutions Sdn Bhd had recently been awarded two contracts worth RM7.39 million by the government.
The contracts are to provide maintenance and support services of the hardware, software and application of Property Information System Malaysia (PRISM).
The contracts are to commence immediately and shall be completed by the end of August 2014.
These contracts are expected to contribute to TDEX’s earnings for the financial years ending April 30, 2014 and April 30, 2015, it added.
PETRONAS DAGANGAN BHD [] (PetDag) has increased its capital expenditure by RM200 million to RM700 million for this year. The additional capital will go into infrastructure investments in the Philippines.
“In five years’ time, I expect these regional operations to contribute some 5% to 8% to the company’s net income,” PetDag chairman Datuk Wan Zulkiflee Wan Ariffin told reporters today.
Regional contribution is currently below 1%.
Pavilion Real Estate Investment Trust reported a 14% growth in first quarter profit from a year earlier on higher rentals from its prime land PROPERTIES [] here.
Pavilion said net profit came to RM54.27 million in the quarter ended March 31, 2013 (1QFY13), compared to RM47.8 million previously. Revenue rose 11% to RM94.75 million from RM85.33 million.
Distributable income for 1QFY13 is RM56 million or 1.86 sen per share, said Pavilion.
UNISEM (M) BHD [] recorded a smaller net loss of RM9.7 million for its first quarter ended March 31, 2013 (1QFY13), an improvement over the RM13.5 million in losses it posted in the previous corresponding quarter.
It said its Asian segment recorded losses whereas both the United States and Europe regions recorded profits for the quarter under review.
Its revenue came in at RM249.7 million, a 2.7% dip from the RM256.6 million the company recorded at the same time last year.
Tambun Indah Land Bhd reported a 28% rise in first quarter net profit from a year earlier as the property developer raked in higher real estate sales.
Tambun Indah said net profit came to RM11.73 million in the quarter ended March 31, 2013 (1QFY13), versus RM9.16 million previously. Revenue rose 19% to RM78.32 million from RM65.99 million.
As at March 31 this year, the group said it recorded an average take-up rate of 70.9% on its on-going projects while unbilled sales came to RM425 million.
Tambun Indah said these should contribute to the company’s earnings for the next two to three years.