Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 25 February 2013 20:16
KUALA LUMPUR (Feb 25): Based on corporate filings with Bursa Malaysia, stocks that could attract investor interest on Tuesday (Feb 26) include CIMB, United PLANTATION []s, Boustead, Parkson, WCT, Kossan, Magna Prima and Ingress.
CIMB Group Holdings Bhd announced it recorded a 5.3% dip in quarter-on-quarter net profit to RM1.08 billion for its fourth quarter ended Dec 31, 2012, but posted a record RM4.34 billion in net profits for the full year.
CIMB said revenue for the fourth quarter also declined 4.9% to RM3.37 billion, down from the third quarter.
But the large banking group announced a second interim dividend of 18.38 sen per share. This brings full year dividends to 23.38 per share, translating to a dividend payout ratio of 40%.
"The profits were lower due to an extraordinary gain of RM250 million on the deconsolidation of CIMB Aviva in the fourth quarter of 2011," said chief executive Datuk Sri Nazir Razak at a results briefing today.
For the full year, net profits climbed 7.8% to a new record of RM4.34 billion, from the year before. Revenue also rose 11.3% to RM13.5 billion from the year prior.
"We delivered another set of record profits for FY12, underpinned by strong earnings growth in most of our business lines," Nazir said in a statement to Bursa Malaysia.
"We believe that we can sustain a net return on equity of 16% for 2013 on our higher capital and cost base, by driving revenues and efficiencies," he added.
UNITED PLANTATIONS BHD [] (UP) recorded a net profit of RM92.2 million for its fourth quarter ended Dec 31 (4Q12), about 26% higher than its 4Q11 profit of RM73.1 million.
The company is proposing a final dividend of 22.5 sen per share for its shareholders.
The company said its quarterly revenue came in at RM304.26 million, up from the RM290.37 million it posted last year.
But for its full year results, UP recorded a FY12 net profit of RM342.24 million, about 8% lower than FY11's profit of RM373.95 million. Revenue came in at RM1.18 billion, down from FY11's revenue of RM1.39 billion.
BOUSTEAD HOLDINGS BHD []'s net profit for the fourth quarter ended Dec 31, 2012, fell 21.7% to RM150.5 million from RM192.3 million a year earlier, due mainly to the deficit from heavy industries division, fall in palm oil prices andreduced gains in investment PROPERTIES [].
The company said its revenue rose for the quarter rose to RM2.68 billion, from RM2.55 billion the previous year.
But Boustead declared a fourth interim dividend, single tier 7.50 sen to be paid March 29.
PARKSON HOLDINGS BHD [] recorded a net profit of RM74.24 million for its second quarter ended Dec 31 (2Q12), a 30% drop from its 2Q11 profit of RM105.72 million.
The fall in profit was attributed to a late start of the Lunar New Year this year, the company said.
"The late arrival of the Lunar New Year in the current financial year (Feb 10, 2013, vs Jan 23, 2012) has delayed some consumer spending to the next quarter as against certain festive retail buying captured in the 3 months ended 31 December 2011," Parkson told Bursa Malaysia today.
But the retail group's quarterly revenue came in at RM930.40 million, up from 2Q11's revenue of RM911.18 million.
WCT BHD [] reported a more than four-fold rise in fourth quarter net profit from a year earlier as the builder and property develop registered a significant increase in revaluation gains for its investment real estate.
For the three-month period, the company saw a revaluation surplus of RM226.13 million compared to RM42.8 million a year earlier.
WCT said net profit came to RM244.68 million in the fourth quarter ended December 31, 2012 (4QFY12) compared to RM51.51 million a year earlier. Revenue however fell 22% to RM380.17 million from RM485.07 million.
WCT's full-year net profit more than doubled (2.2 times) to RM364.57 million from RM165.99 million a year earlier as revenue climbed 1.3% to RM1.56 billion.
The company is paying an interim dividend of 3.25 sen a share in 4QFY12.
Looking ahead, WCT said improving broader market outlook and the Economic Transformation Programme will help the company grow earnings in the future.
KOSSAN RUBBER INDUSTRIES BHD [] posted a 24.36% growth in net profit for its fourth quarter ended Dec 31, 2012, to RM29.66 million from the year before, due to lower raw material (latex) price, increased output and optimum product mix.
Revenue for the quarter also rose 13.16% to RM318.58 million year-on-year, but no dividends were declared.
For the full year, Kossan posted a net profit of RM104.45 million, a 16.47% increase from the RM89.68 million recorded in the same quarter last year. Revenue stood at RM1.24 billion, a 13.76% jump from RM1.09 billion.
On its current year prospects, Kossan said, "We are confident the global demand for rubber gloves will continue to grow strongly."
MAGNA PRIMA BHD [] returned to the black with a net profit of RM11.02 million for its fourth quarter ended Dec 31, 2012, buoyed by the completion of its One Sierra development.
The group's earnings more than doubled compared to its net losses of RM9.45 in the previous quarter.
The property and CONSTRUCTION [] concern posted a revenue of RM150.34 million for the period under review, compared to RM37.81 million the year before.
INGRESS CORPORATION BHD [] said a 70%-subsidiary has received a letter of award from PHN Industry Sdn Bhd for the development/supply of body panels for a new Proton model.
It said the project would commence in the second quarter of the financial year 2015 for five years.
The project will generate about RM107.5 million in revenue for the Ingress Group, while the total investment cost will be about RM23.1 million. It is expected to contribute positively to the earnings of Ingress, the company said.