Stocks to Watch Tenaga, Atlan, UOA REIT, Zhulian, Public Bank, AirAsia X, Bursa Malaysia, Tanah Makmur

DRB tomorrow up up up, selling of uni asia

UOA reit tomorrow up up up, declare dividend of 5.27 sent

Zhulian will be down down down ... time to buy some??

Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of   
Wednesday, 16 July 2014 19:54

KUALA LUMPUR (July 16): Based on newsflow and corporate announcements today, stocks that may interest investors tomorrow (July 17) could include:

Tenaga Nasional Bhd announced that its net profit dropped marginally to RM1.71 billion for third financial quarter ended May 31, down 0.52% from RM1.72 billion in the previous corresponding period. 

However, the utility group’s revenue came in higher at RM11.51 billion — an increase of 19.31% from RM9.65 billion a year ago. Earnings per share dropped slightly to 30.31 sen, from 31.05 sen.

For the nine months ended May 31, Tenaga posted a net profit of RM5.12 billion — a 15.15% growth from RM4.44 billion a year ago. Revenue expanded 12.6% to RM31.1 billion, from RM27.63 billion.

Atlan Holdings Bhd’s net profit plunged 93% to RM10.86 million for its first quarter ended May 31, 2014, from RM146.95 million in the previous year’s same quarter.

Revenue for the quarter was flat at RM176.57 million, compared to RM176.85 million in the year before.

UOA Real Estate Investment Trust (REIT) posted a net profit of RM11.5 million for the second quarter ended June 30, a mere 3.8% increase from the net profit of RM11.1 million recorded in the previous corresponding quarter. 

Revenue also increased slightly to RM22.1 million, from RM21.2 million previously.

Zhulian Corp Bhd’s net profit fell 78% to RM8.27 million for its second quarter ended May 31, 2014, from RM37.93 million in the previous year’s same quarter.

Revenue for the quarter fell to RM65.65 million from RM106.23 million a year before.

Net profit for the six months to May 31, 2014, fell to RM25.45 million from RM67.67 million in the previous year’s corresponding quarter, while revenue fell to RM131.80 million from RM214.95 million. 

Public Bank Bhd is buying the remaining 50% stake in Vietnam-based subsidiary VID Public Bank (VPB) for US$76.6 million (about RM245 million) cash. The seller is the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

Public Bank said it had signed an equity capital transfer agreement with BIDV. Upon completion of the transaction, Public Bank will own 100% of VPB.

AirAsia X Bhd has signed a memorandum of understanding with Airbus for the proposed acquisition of 50 units of the latter's A330-900neo aircraft for over US$13 billion (RM41.52 billion).

Delivery of the aircraft to long-haul budget airline AirAsia X is scheduled to begin in 2018.

Bursa Malaysia Bhd will announce its second quarter results tomorrow. During the first quarter ended March 31, 2014, the stock exchange regulator and operator's net profit rose to RM45.15 million from RM38.2 million a year earlier.

Revenue was higher at RM123.17 million versus RM110.44 million.

Tanah Makmur Bhd will be listed on the Main Market of Bursa Malaysia tomorrow.  The company saw its public tranche of 20 million shares under its initial public offering (IPO) oversubscribed by 14.45 times.

Another 75.18 million shares made available for private placement, and 6.41 million shares for subscription by eligible directors of Tanah Makmur, eligible employees of Tanah Makmur and eligible persons who have contributed to the success of Tanah Makmur, were also fully subscribed.

Tanah Makmur reported net profit of RM12.09 million for its first financial quarter ended March 31, 2014, up 64% year-on-year from M7.33 million.

Revenue for the quarter rose to RM91.82 million from RM58.37 million a year earlier.