Business & Markets 2014
Written by Foo Yen Ne of theedgemalaysia.com
Wednesday, 13 August 2014 21:12
KUALA LUMPUR (Aug 13): Based on news flow and corporate announcements today, the following companies may garner investors' interest tomorrow (Aug 14): CLIQ, Media Chinese, LCTH, Berjaya Assets and BHIC.
CLIQ Energy Bhd could be watched closely as it is negotiating the acquisition of two oil and gas assets in Asia.
CLIQ is waiting for the Securities Commission’s clearance to go ahead with the deals.
Maybank Investment Bank has downgraded its income forecast for Media Chinese International Bhd and reduced the stock’s target price (TP)
The downgrades were in anticipation of government subsidy cuts and lower advertising expenditure gains after Malaysian Airline System Bhd’s two aviation disasters.
Maybank reduced its forecast for Media Chinese’s earnings per share by 11%, 6% and 4% respectively for financial years ending March 31, 2015, 2016, and 2017 respectively. Maybank has trimmed the stock’s TP to 92 sen from RM1.01 previously.
LCTH Corp Bhd recorded a 76% decline in net profit to RM3.33 million for the second quarter ended June 30, 2014 from RM13.88 million a year earlier.
Precision plastic injection mould manufacturer LCTH's revenue was also lower at RM35.45 million compared to RM56.91 million.
First half net profit fell to RM4.35 million from RM12.13 million a year earlier. Revenue for the period declined to RM65.22 million from RM105.11 million.
Berjaya Assets Bhd's net profit soared 156% to RM22.92 million in the fourth quarter ended June 30, 14 from RM8.92 million a year earlier. Revenue rose to RM106.4 million from RM103.64 million.
The property developer said full-year net profit declined to RM43.92 million from RM45.82 million. Revenue rose to RM419.42 million from RM361.65 million.
Boustead Heavy Industries Corp Bhd (BHIC) posted a net profit of RM11.2 million for its second quarter ended June 30, 2014, up 10% from RM10.2 million a year earlier.
The ship builder, which also fabricates structures for the oil and gas sector, said revenue rose 7% to RM66.5 million from RM61.8 million.
For the six-months, net profit, however, fell to RM11.9 million from RM15.3 million a year earlier although revenue rose to RM130.7 million from RM126.2 million.