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Written by Joseph Chin of theedgemalaysia.com
Wednesday, 11 May 2011 23:32
KUALA LUMPUR: Stocks which could see trading interest on Thursday, May 12 following fresh corporate developments include MALAYSIA BUILDING SOCIETY BHD [] (MBSB), MISC BHD [], DIALOG GROUP BHD [] and Wah Seong Corp Bhd.
Malaysia Building Society Bhd (MBSB) posted net profit of RM68.28 million in the first quarter ended March 31, 2011 compared with RM43.19 million a year ago. Revenue was RM311.63 million compared with RM169.12 million.
For the three months ended March 31, 2011, MBSB group achieved a pre-tax profit of RM91.0 million, up 111% from RM43.2 million a year ago.
MISC posted net loss of RM307.88 million in the fourth quarter ended March 31, 2011 after it made impairment provisions totaling RM456.65 million.
The poor financial performance was a sharp contrast from the net profit of RM196.43 million a year ago when the provisions for impairments were sharply lower at RM49.58 million.
MISC said its revenue was lower at RM2.924 billion compared with RM3.31 billion a year ago. Loss per share was 6.9 sen compared with earnings per share of 5.10 sen.
Dialog Group’s net profit for the third quarter ended March 31, 2011 rose 20.4% to RM38.34 million from RM31.84 million a year earlier, due mainly to higher contribution from its engineering and CONSTRUCTION [], and plant maintenance activities in Malaysia and Singapore.
Revenue rose to RM301.16 million from RM282.77 million. Earnings per share were 1.95 sen while net asset per share was 28.46 sen.
Dialog declared a interim single-tier cash dividend of 1.3 sen per share in respect of the financial year ending June 30, 2011.
Wah Seong’s net profit for the first quarter ended March 31, 2011 surged to RM43.37 million from RM17.02 million a year ago, due to increasing activities recorded in all divisions of the group, especially in the pipeline services division.
Its revenue for the quarter increased by 19.8% to 490.89 million from RM409.62 million. Earnings per share were 5.83 sen while net asset per share was RM1.31.
HUA YANG BHD [] has acquired 1.55 acres of prime land in the Desa Pandan Commercial Centre in Kuala Lumpur and plans to undertake a property project with an estimated RM160 million in gross development value.
PETRA PERDANA BHD [] has secured RM73 million worth of new charter contracts for three mid-size anchor handling tug supply (AHTS) vessels.