Stocks To Watch Bumi Armada, BAT, KLK, KianJoo, JCY, MSM, Maybank, Perwaja, B.Assets, Luxchem

Business & Markets 2014
Written by Ho Wah Foon of   
Wednesday, 19 February 2014 19:55

KUALA LUMPUR (Feb 19): Based on corporate announcements and results received up to 7.15 pm today, the following companies may be on investors' radar tomorrow:

Bumi Armada Bhd’s net profit fell 19% year-on-year (y-o-y) to RM88 million in 4Q13, from RM109 million. But revenue jumped 17% y-o-y to RM557 million from RM478 million.

Bumi Armada said it proposed a tax-exempt final cash dividend of 3.25 sen per share for the financial year ended Dec 31, 2013.

The offshore oil & gas service provider said its full-year net profit stood at RM431 million versus RM386 million in the previous year, while revenue recorded was RM2.1 billion versus RM1.7 billion a year ago.

In a separate statement, Bumi Armada Bhd said it had signed two contracts worth RM1.3 billion with Oceanic Consultants Nigeria Ltd for the deployment of the FPSO Armada Perdana at the Oyo Field Development.

The contracts are for an initial period of 7 years from 1 Jan 2014, with an extension option of 2 additional periods of 12 months for each contract.

“The contracts are expected to contribute to the revenue and earnings of the Bumi Armada Group for the financial year ending 31 Dec 2014, and the financial periods thereafter, for the duration of the contracts.”

British American Tobacco (BAT)’s net profit for the fourth financial quarter ended 31st December 2013 fell 3.97% to RM189.93 million, from RM197.79 million in similar quarter a year ago.

The board of directors have declared an interim dividend of 78 sen per share.

Revenue for the quarter remained flat at RM1.09 billion

Cumulative profits for the full-year rose to RM825.77 million, from RM798.39 million a year ago. Revenue for the full year rose to RM4.52 billion from RM4.36 billion a year ago.

Kuala Lumpur Kepong Bhd (KLK) saw a 12.2% y-o-y increase in net profit to RM292.68 million for its first quarter ended 31 December 2013, from RM260.92 million in the first quarter of previous year.

Revenue was also up by 7.5% at RM2.494 billion, from RM2.321 billion in the previous year.

Looking ahead, the group said it expects to register a higher profit figure for its current year as it expects higher income from its plantations sector.

Batu Kawan Bhd’s net profit rose 13% (y-o-y) to RM157 million in the first quarter ended Dec 31, 2013, from RM139 million in similar quarter the previous year.

Revenue also rose 8% y-o-y to RM2.6 billion from RM2.4 billion.

The holding company that owns 47% of shares in Kuala Lumpur Kepong Bhd said its manufacturing segment recorded higher profit but its plantations and property development segments reported lower profits.

Kian Joo Can Factory Bhd recommended a final tax-exempt (single-tier) dividend of 10% (2.50 sen per share) and a special tax-exempt (single-tier) dividend of 15% (3.75 sen per ordinary share) in respect of the financial year ended 31 December 2013.

This was declared along with the release of its weaker results, which saw its net profit for the fourth quarter to December 2013 falling to RM23.75 million, from RM47.03 million in fourth quarter of the previous year, despite posting higher revenue of RM334.85 million.

For the full-year, its profits totalled RM118.29 million, down from RM120.90 million a year ago.

JCY International Bhd posted a net profit of RM33.7 million in the first quarter to end-December 2013, a reversal of a net loss of RM23.9 million in similar quarter of previous year and loss of RM2.3 million in the preceding quarter.

The HDD producer recorded higher revenue of RM476.8 million, compared with RM376.8 million a year ago, “due mainly to the higher quantities shipped and better ASP in the reporting quarter”, said JCY in a filing with Bursa Malaysia.

JCY declared a single tier tax-exempt first interim dividend of one sen per ordinary share or 4% for the financial year ending 30 September 2014.

On outlook, it said: “Despite the continuing decline in PC shipments, we expect demand for HDDs to remain stable, as the demand for cloud infrastructure, game consoles… continues to increase.”

MSM Malaysia Holdings Bhd's net profit for the fourth quarter ended 31st December, 2013 fell 35 % to RM25.94 million compared with RM39.87 million in a similar quarter a year ago.

Revenue for the quarter fell to RM537.33 million versus RM612.48 million a year ago.

The company attributed the lower revenue to lower domestic and export sales.

Net profit for the full-year totalled RM254.67 million, up from RM202.02 million in the previous year. Revenue for the full-year was lower at RM2.2 billion from RM2.3 billion a year ago.

Malayan Banking Bhd's Indonesian unit PT Bank Internasional Indonesia Tbk's (BII) net profit rose 29% to Rp1.55 trillion in the financial year ended December 31, 2013, from Rp1.2 trillion a year earlier.

In a statement today, BII said net profit had risen as interest and fee-based income grew while provision expenses fell.

Perwaja Holdings Bhd (PHB) announced that its unit Perwaja Steel Sdn Bhd (PSSB) had signed a settlement agreement with Tenaga Nasional Bhd (TNB)

The steel maker stated that the settlement was signed yesterday to record the terms and conditions of settlement of all outstanding amounts owed by PSSB in electricity bills amounting to RM176.7 million.

Additionally, PSSB has also signed a supplementary agreement for the reconnection and future supply of electricity to its manufacturing facilities located in Kemaman, Terengganu.

Berjaya Assets Bhd’s net profit jumped 29% y-o-y to RM16.3 million in the second quarter ended Dec 31, 2013, from RM12.6 million.

Revenue also jumped 27% y-o-y to RM105.7 million from RM83.3 million.

The firm recorded half-year net profit of RM33 million versus RM35 million in the previous corresponding period, while revenue was RM206 million from RM164 million a year ago.

Luxchem Corporation Bhd’s net profit soared 154% y-o-y to RM10 million in the fourth quarter ended Dec 31, 2013, from RM4 million, on higher contribution from its manufacturing segment.

Revenue also rose 6% y-o-y to RM129 million from RM122 million.

Luxchem said it proposed a single tier final dividend of 5 sen per ordinary share for the financial year ended Dec 31, 2013.

For the full-year period, net profit was RM20 million versus RM16 million in the previous year, while revenue generated was RM525 million from RM497 million a year earlier.