KUALA LUMPUR (Nov 26): Based on news flow and corporate announcements today, companies that may be in focus tomorrow (Nov 27) could include: JCY International Bhd, Protasco Bhd, Tan Chong Motor Holdings Bhd, Malaysian Bulk Carriers Bhd, Telekom Malaysia Bhd, Cahya Mata Sarawak Bhd, Alliance Financial Group Bhd, Encorp Bhd, Prestariang Bhd, and Padini Holdings Bhd
JCY International Bhd posted a net profit of RM26.72 million for the fourth financial quarter ended Sept 30, 2014 (4QFY14) from a net loss of RM2.28 million a year ago, on higher revenue and better operational efficiency.
Revenue for 4QFY14 stood at RM462.87 million, 10.55% higher from RM1.87 billion in 4QFY13.
“This was due mainly to the increase in volume shipped and the improvement on average selling prices in the reporting quarter,” said the manufacturer of hard disk drive mechanical components.
JCY shares closed half a sen or 0.89% lower at 55.5 sen today, giving it a market capitalisation of RM1.13 billion.
Protasco Bhd's extraordinary general meeting (EGM) has been reconvened after it was interrupted by news that non-executive directors Tey Por Yee and Ooi Kok Aun had filed an injunction at the high court to prevent it from carrying on today.
A Protasco spokesman said while the Kuala Lumpur High Court has yet to decide on the injunction application, the EGM was reconvened so that shareholders could vote on whether to proceed with the EGM today or postpone it to 3pm tomorrow.
Protasco shares closed 9 sen lower at RM1.60, with a market capitalisation of RM539.78 million.
Tan Chong Motor Holdings Bhd’s (TCM) net profit for the third quarter ended Sept 30, 2014 (3QFY14) plunged 94% to RM1.9 million from RM31.7 million a year ago. Revenue for the quarter also fell 9% to RM1.15 billion from RM1.27 billion in 3QFY13.
In a filing with Bursa Malaysia today, TCM said its automotive division reported lower profit for the quarter, due to the loss of market share in the Malaysian B-segment.
It also said profit margin was sacrificed to sustain market share and to lower inventory level.
Going forward, the group expects to improve its market share in the remaining quarter of its current financial year through aggressive marketing efforts in a seasonally slower year-end.
It also expects topline improvement for its loss-making Indochina operations in the fourth quarter, as it has resolved the customs duty issue in Vietnam.
Tan Chong closed down 0.24% or 1 sen at RM4.10 today, giving it a market capitalisation of RM2.68 billion.
Malaysian Bulk Carriers Bhd (Maybulk) slipped into the red for the third quarter ended Sept 30, 2014 (3Q14), posting a net loss of RM2.97 million from a net profit of RM8.54 million in 3QFY13. This was due to weaker financials across its business segments.
Revenue, however, rose marginally to RM62.98 million from RM62.82 million.
On prospects, Maybulk said while the difficulties and challenges facing the shipping industry remain, it is of the view that the positive contribution from its associate PACC Offshore Services Holdings Ltd will underpin the group’s profitability in 2014.
Maybulk shares closed unchanged at RM1.40 today, giving it a market capitalisation of RM1.4 billion.
Telekom Malaysia Bhd (TM) reported a 22% fall in third quarter net profit to RM188.85 million from RM240.88 million a year earlier, on higher operating cost and taxes, “in line with the expiry of tax incentives in September 2013, partially offset by lower net finance cost”.
Revenue was, however, higher at RM2.64 billion, versus RM2.61 billion, mainly due to higher revenue from other telecommunication-related services, Internet and multimedia, which mitigated the decline in data and voice.
TM shares closed down 26 sen or 3.47% at RM7.24, giving it a market capitalisation of RM26.93 billion.
Cahya Mata Sarawak Bhd posted a 76.57% rise in net profit to RM72.38 million in the third quarter ended Sept 30, 2014 (3QFY14), from RM40.99 million a year ago, on higher profit from its cement and construction materials & trading (CMT) divisions.
Revenue for 3QFY14 was 23.16% higher at RM413.07 million from RM335.40 million a year ago.
The building materials manufacturer said that profit before tax (PBT) for its cement division in the quarter was higher by 13% due to higher cement prices and higher cement sales volume.
Meanwhile, PBT for its CMT division was up by 61% mainly due to the supply of mild steel polyurethane pipes to Jabatan Kerja Raya.
Cahya Mata Sarawak shares closed unchanged at RM4.45 today, giving it a market capitalisation of RM4.6 billion.
Alliance Financial Group Bhd (AFG), the country's smallest banking group by assets, saw its net profit jump 37% to RM180.33 million in its second financial quarter ended Sept 30, 2014 (2Q15) from RM131.24 million a year ago on higher net interest income.
Revenue for the quarter climbed 24% to RM390.12 million from RM314.74 million in 2QFY14.
AFG also declared a first interim dividend of 9 sen per share for its financial year ending March 31, 2015 (FY15), payable on Dec 30.
In a filing with Bursa Malaysia today, AFG attributed the growth in net profit to higher net interest income and other operating income during the quarter, but was partly offset by increased operating expenses.
AFG shares closed up 3 sen or 0.63% at RM4.80, giving it a market capitalisation of RM7.43 billion.
Encorp Bhd posted a net loss of RM7.4 million for its third quarter ended Sept 30, 2014 (3QFY14) compared with net profit of RM8 million a year ago.
Revenue for the quarter dropped 67% to RM56.3 million, from RM168.6 million in 3QFY13.
For the nine months to Sept 30, 2014, Encorp posted net profit of RM1.4 million, down 90% from RM14.4 million, while revenue fell 33% to RM268.7 million from RM402.3 million.
Looking ahead, Encorp expects a challenging business environment, due to the dampened outlook on the property sector following the cooling measures imposed on the sector.
Encorp shares fell 6 sen to close at RM1.30 today, bringing a market capitalisation of RM355.24 million.
Prestariang Bhd, an information and communication technology training and certification provider, saw its net profit for the third quarter ended Sept 30, 2014 shrank 59.2% to RM5.03 million from RM12.33 million a year ago, mainly due to the completion of Projek Komputer 1Malaysia, and the deferment of renewal of IC CITIZEN programme.
These were also factors that dragged Prestariang’s revenue lower in the quarter. Revenue for 3QFY14 was down 52.58% to RM16.85 million compared with RM35.53 million a year ago.
Prestariang shares rose three sen or 1.94% to RM1.58 today, giving it a market capitalisation of RM764.72 million.
Padini Holdings Bhd’s net profit fell by as much as 30.62% to RM19.24 million in its first financial quarter ended Sept 30, 2014 (1QFY15) from RM27.74 million a year ago, on declining sales from its the consignment, wholesale and single-brand stores coupled with rising operating costs.
Revenue for 1QFY15, however, was 4.39% higher at RM226.75 million from RM217.22 million in 1QFY14.
It announced a second interim dividend of 2.5 sen per share for the financial year ending June 30, 2015.
Padini shares closed 1 sen or 0.56% lower at RM1.77 today, bringing a market capitalisation of RM1.16 billion.