KUALA LUMPUR (Dec 19): Based on corporate announcements and news flow today, stocks in focus on Friday (Dec 20) may include: Aeon Credit Service (M) Bhd, Axiata Group Bhd, Eastern & Oriental Bhd, Gamuda Bhd, Guan Chong Bhd, MyNews Holdings Bhd, Puncak Niaga Holdings Bhd and Inari Amertron Bhd.

Aeon Credit Service (M) Bhd’s third quarter ended Nov 30, 2019 (3QFY20) net profit fell 20% to RM69.93 million from RM87.14 million a year ago despite revenue growing 15% to RM402.46 million from RM348.5 million, following higher operating and funding costs.

Cumulative net profit for the nine months ended Nov 30, 2019 (9MFY19) fell 24% to RM203.66 million from RM267.01 million a year ago, on the back of higher impairment losses on financing receivables. Revenue for the period grew 18% to RM1.19 billion from RM1.01 billion.

Axiata Group Bhd’s units Axiata Investments (UK) Ltd and Ncell Private Ltd have been granted a provisional measure from an international Tribunal preventing the Nepalese government demanding Ncell to pay in NPR22.45 billion (RM817.99 million) in outstanding capital gain tax (CGT). The order also restrains the Axiata units from taking any steps that would alter the status quo between them and the Nepalese government or to aggravate the dispute. The Nepalese government is claiming US$1.37 billion from Axiata Investments (UK)’s acquisition of Reynolds Holdings Ltd, which owns Ncell.

Eastern & Oriental Bhd (E&O) intends to raise up to RM1.5 billion via a sukuk programme — unrated and with a tenure of 25 years — to finance the costs of land reclamation, infrastructure and development of its Seri Tanjung Pinang 2 (STP2A) development in Penang. The group added that a detailed masterplan is currently being finalised for STP2A.

The takeover of Gamuda Bhd’s four highway concessions by the Minister of Finance (Incorporated) [MoF Inc] has been extended for the third time to February 29, 2020 from Dec 31, 2019. The first deadline for deal was Aug 30, before it was extended to Oct 31 and then to New Year’s eve. Gamuda and each of the concession holding companies have agreed to the extension. The four highways in question are Lebuhraya Damansara Puchong (LDP), Sistem Penyuraian Trafik KL Barat (Sprint), Lebuhraya Shah Alam (Kesas) and Smart Tunnel.

The world’s fourth-largest cocoa grinder Guan Chong Bhd is acquiring Schokinag Holdings GMBH (SHG), a European chocolate maker for €29.93 million (RM137.84 million) as part of the group’s global expansion strategy. The acquisition, to be funded through internal funds, is expected to be completed in the first quarter of 2020.

MyNews Holdings Bhd’s fourth quarter ended Oct 31, 2019 (4QFY19) net profit halved to RM3.18 million or 0.47 sen per share, from the RM6.06 million or 0.89 sen per share last year, owing to its new food processing centre still undergoing a gestational period. Revenue grew 27.74% to RM139.81 million from RM109.45 million.

Full-year net profit inched by 1.21% to RM26.82 million or 3.93 sen per share, from RM26.5 million or 3.88 sen per share last year, while revenue grew 34.36% to RM528.52 million from RM393.56 million

Puncak Niaga Holdings Bhd’s unit Puncak Niaga Management Services Sdn Bhd has received two bills of demand from the Royal Malaysian Customs Department for Goods and Services Tax payments amounting to RM5.27 million. The demands are for the period from Feb 1,2016 to Dec 31,2017.

Inari Amertron Bhd, which is engaged in the back-end semiconductor packaging including radio frequency testing, saw its share price slump as much as 29 sen or 15.43% yesterday, as investors were spooked following news that US-based Broadcom Inc is looking to sell its wireless-chip unit.

The selling pressure on Inari was possibly due to the fact that Broadcom is a major customer of the Malaysian semiconductor group. So the concern was that the disposal could cause a disruption to the supply chain, analysts said.

The stock closed at RM1.61 — a more than two-week-low — down 14.36% or 27 sen from Wednesday’s last price, for a market capitalisation of RM5.16 billion. Besides being the fifth top loser of the day, the stock was the most actively traded counter, with 141.07 million shares done.