KUALA LUMPUR (Nov 23): Based on corporate announcements and news flow today, stocks in focus on Monday (Nov 26) may include the following: Malakoff Corp Bhd, Sime Darby Plantation Bhd, Bumi Armada Bhd, Ta Ann Holdings Bhd, YTL Corp Bhd, Parkson Holdings Bhd, Dayang Enterprise Holdings Bhd, Malaysian Resources Corp Bhd, IOI Properties Group Bhd and Axiata Group Bhd.
Malakoff Corp Bhd’s third quarter net profit rose 30% to RM83.5 million from RM64.18 million a year earlier, mainly on lower income tax expense.
The cumulative nine-month net profit fell to RM188.95 million from RM266.23 million a year earlier, while revenue was higher at RM5.46 billion versus RM5.34 billion in the previous year.
Sime Darby Plantation Bhd‘s net profit for the financial quarter ended Sept 30, slumped to RM115 million from RM1.02 billion a year earlier on lower average crude palm oil (CPO) and palm kernel realised prices. Earnings per share dropped to 1.7 sen from 15 sen previously.
Bumi Armada Bhd posted a third quarter net loss of RM502.83 million versus a net profit of RM123.73 million a year earlier as it recognised significantly higher asset impairments. Its income statement shows impairments rose to RM563.48 million from RM1.91 million
Ta Ann Holdings Bhd reported a 60.83% jump in net profit to RM32.21 million for the third quarter ended Sept 30 on higher average selling prices for plywood products and export logs, despite a drop in the average selling price of crude palm oil and fresh fruit bunches of 21% and 22%, respectively.
YTL Corp Bhd‘s net profit fell 11.3% to RM125.79 million in the first financial quarter ended Sept 30 on lower contributions from utilities, cement manufacturing and trading, and property investment and development segments.
Parkson Holdings Bhd posted a marginally smaller net loss of RM43.01 million in its first quarter ended Sept 30 against RM43.53 million the year before, as higher taxes and finance costs were offset by improved revenue and lower operating expenses.
Dayang Enterprise Holdings Bhd’s net profit for the third quarter ended Sept 30, surged more than 43 times to RM48.75 million from RM1.12 million a year ago, mainly due to higher volume of work orders, impairment loss and foreign exchange gains.
Malaysian Resources Corp Bhd has received the settlement sum of RM1.33 billion for the termination of the Eastern Dispersal Link (EDL) concession from the Government.
IOI Properties Group Bhd’s net profit declined 54.3% to RM111.96 million for the first quarter ended Sept 30 as the group saw lower property sales from Singapore and lower contribution from development projects in Malaysia.
Axiata Group Bhd has registered a 45% fall in net profit to RM132.07 million in the third quarter ended Sept 30, mainly due to higher unrealised forex loss on US dollar-denominated loans, as well as higher finance costs.
Even so, it was the first quarterly profit for the year.