THIS YTL sipeh kanasai, really make me CRY, one day already sapu all gain ????
Written by Ho Wah Foon of theedgemalaysia.com
Friday, 30 May 2014 20:30
KUALA LUMPUR (May 30): Based on corporate results reported to the stock exchange today, the companies that may be in focus on Monday (June 2) could include the following:
Perwaja Holdings Bhd said for the three months to March 2013, it posted a revenue of RM5.4 million and a pretax loss of RM235.1 million.
The financial year of the company has been changed from 31 December to 30 June and accordingly, there is no corresponding quarter for the preceding year.
“The low revenue and pre-tax loss in current quarter was mainly driven by zero production and low sales volume. The zero production was affected by the gas and electricity supply curtailment by Petronas and TNB at the material time,” said Perwaja.
During the quarter, there was an inventory write down of RM90 million and an assets write off of RM90 million by a subsidiary, the steel company added.
For the 15 months to March 2014, revenue and pre-tax loss were at RM918.5 million and RM536.0 million respectively, as compared to revenue and pre-tax loss of RM1,863.7 million and RM192.2 million recorded in the 12 months ended December 2012.
“The decrease in revenue and increase in pre-tax loss for the 15 months was mainly due to decrease in production level, sales volume and lower margin and the gas and electricity supply issues,” said Perwaja.
Kinsteel Bhd's net loss came to RM94.6 million in the quarter ended March 31, 2014, on revenue of RM162.14 million due to output disruption at its unit Perwaja Steel Sdn Bhd (PSSB), Kinsteel said.
As Kinsteel has change its financial year end from December 31 to June 30, there are no comparative figures from a year earlier.
"The zero production was a result of the gas and electricity supply curtailment by Petronas and TNB (Tenaga Nasional Bhd) in PSSB at the material time," Kinsteel said.
Kinsteel's cumulative 15-month net loss widened to RM299.8 million from a net loss of RM110.2 million in the 12 months to end-2012. Revenue was lower at RM1.51 billion versus RM2.15 billion.
7-Eleven Malaysia Holdings Bhd (SEM), which gained 5% at the start of its maiden trades today, ended up with 11% gains in active trades.
7-Eleven, whose shares were priced at 1.38 ringgit each in its IPO, was chased by retail investors today after raising RM732 million in the initial public offering (IPO) to fund store expansion.
At 5.00 pm market close, the company’s share rose 15 sen or 10.9% to end at RM1.53 after trading at a high of RM1.55 earlier in the day.
The stock attracted trades of some 202 million shares to rank the most active counter.
YTL Corporation Bhd and Padini Bhd, which are among stocks that have been excluded from the Securities Commission Malaysia (SC)’s updated Shariah-compliant list, fell sharply today.
At market close, YTL fell 12 sen or 7% to RM1.63 while Padini fell 8 sen or 4% to RM1.93.
Public Investment Bank Bhd said there is some selling as the SC has removed the six-month grace period for securities trading in-the-money, with a new directive for immediate disposal.
It is unsure whether selling will continue for the two stocks on Monday. If investors feel they are oversold, the stocks could rebound.
The SC yesterday released the updated list of Shariah-compliant securities approved by its Shariah Advisory Council.
Southern Acids Bhd (SAB) said its net profit for the fourth quarter to end-March 2014 rose 19% to RM10.24 million, up from RM8.62 million a year ago.
Revenue for the quarter also rose, increased by 3.5% to RM140.18 million from the preceding corresponding quarter’s revenue of RM135.51 million.
For the full year to March 2014, net profit rose to RM40.67 million from RM36.62 million in the previous year despite its revenue having fallen 6.5% to RM544.05 million from RM581.43 million.
For the coming financial year ending 31 March 2015, SAB said: “The group’s performance will remain challenging and as such will take necessary steps to maintain the good financial performance.”
Kimlun Corp Bhd's net profit rose 117% to RM19.5 million in the first quarter ended March 31, 2014 from RM9 million a year earlier. Revenue was higher at RM335.1 million versus RM214.4 million.
Kimlun said profit growth came on higher revenue from its construction, property development, besides manufacturing and trading divisions.
"The board expects 2014 as an exciting year for the group on the back of estimated balance order book of approximately RM2.09 billion as at 31 March 2014. The sizable balance order book together with the estimated unbilled property sales value of RM131 million provides a good earnings visibility to the group.”
Len Cheong Holding Bhd registered real estate revaluation gains of RM23.96 million for the first quarter ended March 31, 2014.
The furniture manufacturer said the three freehold industrial properties comprised land and building in the Senawang Industrial Area in Negeri Sembilan.
"The recognition of revaluation surplus of RM23.96 million has resulted in an increase in net assets per share of the group by approximately RM0.30 for the 3-month period ended 31 March 2014," Len Cheong said.
Formis Resources Bhd posted net profit of RM14.1 million in its fourth quarter ended March 31, 2014, compared to a net loss of RM40.2 million in the previous year’s corresponding quarter.
However, revenue for the quarter fell 19% to RM88.5 million, from RM109.7 million in the year before.
For the full financial year, net profit stood at RM30.9 million from a net loss of RM40.2 million in the preceding financial year, while cumulative revenue rose to RM351.6 million from RM338.6 million.
Going forward, the company said: “The board is optimistic that the group’s financial performance in the new financial year will remain positive.”
Scomi Group Bhd posted a net loss of RM4.0 million and revenue of RM421.3 million for its fourth quarter ended March 31, 2014.
3 comments
Hi, any view about this YTL stock currently?
fundamental still intact. Fund sold due to syariah compliance and reallignment of portfolio.
Can place some ?