Stocks To Watch Affin, Genting, TM, J.Tiasa, Protasco, Kwantas, TDM, CMSB, S. Steel, Fima, WTK, KPJ


Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com   
Thursday, 28 November 2013 20:36

KUALA LUMPUR (Nov 28): Based on corporate results today, the stocks to watch tomorrow (Nov 29) could include the following:

Affin Holdings Bhd’s net profit rose 7% year-on-year (y-o-y) to RM173 million in the third quarter ended Sept 30, 2013, from RM162 million a year ago.

But revenue was near flat at RM764 million compared to RM768 million a year earlier.

Affin declared an interim tax exempt dividend of 8.9 sen per share and a single-tier dividend of 6.1 sen per share for the financial year ending Dec 31, 2013.

The banking and financial group said for the nine-month period to September, profit totalled RM483 million versus RM469 million a year earlier, while revenue was RM2.254 billion versus RM2.216 billion in the previous corresponding period.

Genting Berhad’s net profit for third quarter to September 2013 soared 65% to RM462.1 million, from RM279.4 million in the third quarter of last year, partly due to gains from derivatives.

Revenue rose 12% to RM4.71 billion from RM4.21 billion in the previous year’s corresponding quarter.

But for the nine months to September 2013, Genting’s net profit fell to RM1.33 billion, from RM1.51 billion in the first three quarters of 2012. However, total revenue increased by 4% to RM13.30 billion from RM12.77 billion in first nine months of 2012.

Reviewing its third quarter results, the major casino group said higher profit was due to higher net fair value gain on derivative financial instruments and higher gain on disposal of available-for-sale financial assets.

In addition, higher profit for the third quarter was due to higher share of results in joint ventures and associates.

On its third quarter revenue, Genting said most of its casinos posted higher revenue but plantation division was hit by lower palm oil prices.

Genting Malaysia Bhd reported a 69% increase in third quarter net profit from a year earlier. Profit growth came on significantly lower impairment losses.

Reversal of previous impairment losses had also supported the hotel and casino operator's profit, Genting Malaysia told Bursa Malaysia today.

Genting Malaysia said net profit rose to RM322.62 million in the third quarter ended September 30, 2013 (3QFY13) from RM190.35 million. Revenue climbed to RM2.12 billion from RM1.94 billion.

It said it registered higher revenue at its operations in Malaysia, besides the UK and US.

The group said nine-month net profit rose to RM1.2 billion from RM956.81 million a year earlier. Revenue was higher at RM6.21 billion from RM5.97 billion.

Telekom Malaysa Bhd (TM) reported a 20% fall in third quarter net profit from a year earlier despite higher revenue. Profit fell on higher operating and finance cost, besides foreign exchange (forex) losses.

Lower amount of tax assets had also caused bottom line decline. TM said net profit fell to RM240.88 million in the third quarter ended September 30, 2013 (3QFY13) from RM301.41 million.

Revenue rose to RM2.61 billion from RM2.38 billion. TM said revenue had risen "mainly due to higher revenue from all key services partially offset by decline in voice revenue".

TM's cumulative nine-month net profit fell to RM667.97 million from RM900.49 million a year earlier. Revenue was however higher at RM7.65 billion from RM7.18 billion.

Jaya Tiasa Holdings Bhd said it posted a net profit of RM19.1 million for the first quarter to September 2013, up from RM14.5 million a year ago, due mainly to higher timber and log prices.

But revenue netted fell by 10.5% to RM245.5 million, compared with RM274.3 million a year ago.

The company said lower revenue was mainly due to 29% and 15% fall in logs and plywood sales volume respectively, and 22% and 27% reduction in fresh fruit bunches (FFB) and crude palm oil (CPO) average selling prices respectively.

Higher profit was contributed by 17% and 12% increase in logs and plywood average selling prices respectively.

Protasco Bhd’s net profit for the third quarter ended September (3QFY13) fell 27% year on year due to higher operating expenses. But the company declared a 4 sen per share dividend.

Protasco, an integrated infrastructure development provider, posted profit of RM13.0 million for the 3Q compared to RM17.9 million in the same corresponding period last financial year.

Its revenue rose to RM250.9 million from RM206.6 million previously.
Kwantas Corporation Berhad’s net profit for the 1st financial quarter ended September 30, 2013, rose 28% to some RM11.8 million from some RM9.3 million in similar quarter of the last financial year.

The increase in profit was attributed to lower finance costs and lower expenses for the quarter, the group said in its filing to Bursa Malaysia.

Revenue for the quarter under review remained flat at RM357.3 million from RM355.5 million in a similar quarter a year ago.

TDM Bhd’s net profit plunged 69% year-on-year to RM13 million in the third quarter ended Sept 30, 2013, from RM40 million a year ago.

Revenue also fell 24% y-o-y to RM101 million from RM133 million.

The palm oil player and healthcare service provider said the poorer profit was due to lower profit of RM34.6 million or 67% y-o-y from its plantation division.

For the nine-month period, profit earned RM21 million from RM67 million a year earlier, while revenue generated RM272 million versus RM328 million in the previous corresponding period.

Cahya Mata Sarawak Bhd's (CMSB) net profit rose 85% to RM40.99 million in the third quarter ended September 30, 2013 from RM22.14 million a year earlier.

Profit growth came mainly on income from its cement, building materials, besides construction and road maintenance units, CMSB told Bursa Malaysia today. 

The firm's revenue climbed to RM335.4 million from RM288.28 million.

Nine-month net profit increased to RM109.73 million from 100.58 million a year earlier. Revenue was higher at RM984.09 million from RM810.8 million.

Southern Steel Bhd recorded losses for its first quarter ended Sept 30 financial year 2014 (1QFY14) due to lower margin and share of higher losses from its associated companies.

The group posted a loss of RM4.17 million for the 1Q against a profit of RM7.09 million it made in the same corresponding period last year. Its revenue declined to RM677.95 million from RM704.11 million a year ago.

Kumpulan Fima Bhd posted net profit of RM16.2 million for its second quarter, down 14% from RM19.0 million in the previous corresponding quarter.

Revenue for 2QFY13 also declined 4% to RM123.2 million from RM127.8 million in 2QFY12.

For the six months to September 2013, net profit fell to RM30.8 million as compared to RM39.8 million in the previous corresponding period. Revenue for 6MFY13 decreased to RM236.0 million from RM244.4 million.

WTK Holdings Bhd’s net profit fell 19% year-on-year (y-o-y) to RM14 million in the third quarter ended Sept 30, 2013, from RM17 million a year ago.

Revenue also fell 20% y-o-y to RM159 million.

In a filing to Bursa Malaysia, the diversified group in the timber industry said the lower profit and revenue were due to its timber and manufacturing and trading divisions posting lower profit and revenue.

For the nine-month period, profit was flat at RM35 million while revenue recorded RM517 million from RM573 million a year earlier.

WTK said its timber division recorded declines in profit and revenue but the manufacturing and trading division posted higher profit although revenue declined.

KPJ Healthcare Bhd recorded a net profit of RM19.4 million in its third quarter, down 42% year on year.

Revenue for the third quarter had increased by 7% to RM565.2 million from RM530.6 million in the previous year’s same quarter.

Cumulatively, net profit for 9MFY13 fell to RM69.8 million from RM101.5 million in 9MFY12. Revenue rose to RM1.698 billion from RM1.585 billion in the previous corresponding period.

The lower profits recorded during the quarter was due to the losses contributed by the three new hospitals: KPJ Bandar Baru Klang, KPJ Pasir Gudang and PT Khasanah Putera Jakarta Medica.

1 comments:

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