By Ahmad Naqib Idris Adzman Shah / theedgemarkets.com | December 22, 2014 : 8:04 PM MYT
KUALA LUMPUR (Dec 22): Based on corporate announcements and newsflow today, stocks in focus tomorrow (Dec 23) could include: Yinson Holdings Bhd, JAKS Resources Bhd, Berjaya Land Bhd, Mulpha International Bhd, Hipa Huat Holdings Bhd, Deleum Bhd and Apollo Food Holdings Bhd.
Yinson Holdings Bhd's net profit soared 460% to RM86.8 million in the third quarter ended Oct 31, 2014 (3QFY15) from RM15.5 million in the previous corresponding quarter; revenue for the period rose 7.8% to RM255.2 million from RM236.8 million a year earlier.
The substantially higher profit was attributed to the RM20.9 million gain on the disposal of a subsidiary and stake in a joint-venture, increase in foreign exchange gains of RM24.8 million, and higher contribution from its marine segment, Yinson told Bursa Malaysia.
For the nine-month period (9MFY15), net profit jumped 259% to RM147.8 million from RM41.2 million in the same period last year, while revenue jumped nearly 20% to RM829.8 million versus RM692.4 million a year ago.
Going forward, Yinson expects global growth to remain moderate but nevertheless believes its operational results for the current financial year to improve due to contribution from newly acquired business and contribution from joint ventures in its floating, production and storage and offloading facility (FPSO) operations.
Yinson's shares rose 14 sen or 5.2% to RM2.81, giving the group a market capitalisation of RM2.88 billion.
JAKS Resources Bhd's subsidiary JAKS Sdn Bhd has secured package 5 of the proposed Langat 2 Water Treatment Plant and Reticulation System, for the supply and installation of pipes.
According to its statement to Bursa, the contract is worth RM55.3 million, for a duration of 24 months up to January 2017.
"The contract is expected to contribute positively to the revenue and earnings of JAKS group for the financial year ending Dec 31, 2015, and the following financial years within the duration of the contract," said the company.
JAKS' share price rose 3.5 sen or 8.33% to 45.5 sen, giving it a market capitalisation of RM195.07 million.
Berjaya Land Bhd's net profit in its second financial quarter endedOct 31 this year has slumped 29% to RM8.97 million from RM12.64 million in 2013.
Its revenue however, has increased 35.49% to RM1.41 billion from RM1.04 billion a year ago. Earnings per share has deteriorated to 0.18 sen from 0.25 sen in 2013.
For the six months to Oct 31, net profit dropped 60% to RM46.6 million from RM115.2 million, while revenue climbed 36% to RM2.82 billion from RM2.07 billion.
Berjaya Land fell 0.5 sen or 0.62% to 80 sen, giving a market capitalisation of RM3.99 billion.
Mulpha International Bhd is buying Norwest Marketown and certain surrounding lands, measuring 4.401 ha in Norwest Boulevard, Baulkham Hills NSW, Australia, for A$120 million (RM349.20 million).
It told Bursa that its its wholly owned subsidiary, Norwest City Pty Ltd, has entered into a contract with Norwest Marketown Pty Ltd for the said acquisition.
Mulpha expects the acquisition to contribute positively to its future earnings. It added that the acquisition is expected to raise the borrowing cost of the group.
It aims to complete the proposed acquisition in the first quarter of 2015. Mulpha declined 0.5 sen or 1.32% to 37.5 sen, translating to a market capitalisation of RM800.14 million.
Hiap Huat Holdings Bhd intends to sell its factory in Kepong, Selangor to Everise Frozen Foods Sdn Bhd for RM11.76 million cash.
Hiap Huat told Bursa that its wholly owned subsidiary Hiap Huat Chemicals Sdn Bhd had entered into a sale and purchase agreement (SPA) with frozen beef food supplier Everise Frozen for the divestment.
The proposed disposal will be completed by the first quarter of 2015, it said, adding that there would be an estimated gain of about RM6.84 million after taking into consideration the audited net book value of the property, current year depreciation charged, estimated real estate commission, real property gains tax and professional fees.
Hiap Huat share price closed unchanged at 12.5 sen today, giving it a market capitalisation of RM40 million.
Deleum Bhd's subsidiary, Deleum Primera Sdn Bhd, has bagged two painting and alternative blasting contracts from Petronas Carigali Sdn Bhd for the latter's operations in Peninsular Malaysia, Sabah and Sarawak operations.
Deleum did not disclose the exact value of the contracts, but said it depends on the agreed rates and the work order issued by Petronas Carigali.
The contracts are for two years from Nov 18, with a one-year extension option.
Deleum shares rose 11 sen or 6.59% to close at RM1.78 today, bringing its market capitalisation to RM708 million.
Cake and chocolate confectionery maker Apollo Food Holdings Bhd's net profit for the second financial quarter ended Oct 31, 2014 (2QFY15) fell 27% to RM4.81 million from RM6.6 million a year ago, mainly due to higher cost of materials.
Revenue for 2QFY15, however, rose 6.5% to RM51.38 million from RM48.23 million in 2QFY14, thanks to increased demand from both export and local markets.
Earnings per share (EPS) was lower at 6.01 sen compared with 8.25 sen in 2QFY14.
For the six months period (6MFY15), Apollo Food's net profit fell 40.7% to RM10.26 million from RM17.31 million a year ago, while revenue dropped 2.6% to RM102.99 million from RM105.71 million in 6MFY14.
Shares of Apollo Food closed up 0.93% at RM4.35 today, bringing it a market capitalisation of RM336 million.