Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Tuesday, 12 November 2013 19:19
KUALA LUMPUR (Nov 12): Based on Bursa Malaysia announcements and news flow today, stocks to watch tomorrow (Nov 13) may include the following companies :
Maxis Bhd, a mobile telecommunication network provider, said net profit rose 7% to RM472 million in the third quarter ended September 30, 2013 from RM442 million a year earlier. Revenue was higher at RM2.24 billion compared to RM2.22 billion.
Cumulative nine-month net profit declined to RM1.475 billion from RM1.478 billion a year earlier. Revenue rose to RM6.86 billion from RM6.66 billion. For the quarter in review, Maxis plans to pay a tax-free dividend of eight sen a share.
Hartalega Holdings Bhd's profit after tax (PAT) rose 8 % to RM63.3 million in the second quarter ended September 30, 2013 from RM58.5 million a year earlier. Revenue climbed 10.2% to RM280.9 million.
The nitrile glove producer's cumulative first-half PAT rose to RM126.3 million from RM112 million a year earlier. Revenue was higher at RM558.9 million compared with RM502.6 million.
"In view of the group’s strong results, the board declared a first interim dividend of 3.5 sen per share single tier for its financial year ending 31 March 2014, as per the entitlement date on 29 November 2013 and payable on 19 December 2013, Hartalega said.
AMMB Holdings Bhd said its unit AmFraser Securities Pte Ltd's clients have gross exposure of some RM120 million in Singapore-listed Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd.
"The recovery efforts are progressing to expectations and we have proactively provided RM40 million, well in advance of regulatory requirements. We are comfortable with our current position and have retained our financial guidance for FY2014," AMMB said.
Blumont, Asiasons and LionGold made news last month following volatility in their share prices.
Perusahaan Sadur Timah Malaysia (Perstima) Bhd will trade ex-dividend tomorrow. The tin plate producer plans to pay an interim dividend of 20 sen a share less 25% income tax.
The dividend is for financial year ending March 31, 2014.
Rubber glove producers may be closely watched amid a weaker ringgit and cheaper natural rubber.
The ringgit has weakened to RM3.2099 versus the US dollar compared to the firmest level of RM2.9803 seen over the last six months, Bloomberg data show.
Meanwhile, the Malaysian Rubber Board's centrifuged latex prices have fallen to RM5.18 a kg from a six-month high of about RM6 seen on May 22 this year.