KUALA LUMPUR (May 27): Based on corporate announcements and news flow today, companies that may be in focus on Friday (May 28) include Privasia Technology Bhd, Kerjaya Prospek Group Bhd, Telekom Malaysia Bhd, Hong Leong Financial Group Bhd, Sime Darby Property Bhd, Malayan Banking Bhd, RHB Bank Bhd, Icon Offshore Bhd, Petronas Chemicals Group Bhd, Dagang NeXchange Bhd, OSK Holdings Bhd, Tenaga Nasional Bhd, Malaysia Building Society Bhd, Petron Malaysia Refining & Marketing Bhd, AirAsia Group Bhd, Media Prima Bhd, BIMB Holdings Bhd, IJM Plantations Bhd, Press Metal Aluminium Holdings Bhd, 7-Eleven Malaysia Holdings Bhd, QL Resources Bhd, UEM Edgenta Bhd and Kanger International Bhd.
Privasia Technology Bhd surged as much as nine sen or 34.62% to a six-year high of 35 sen this morning, after the group swung back into profitability in the first quarter ended March 31, 2021 (1QFY21) with a net profit of RM283,000 from a net loss of RM747,000 a year ago. It said the profit in 1QFY21 was mainly due to realignment of its portfolio of customers.
The group’s quarterly revenue, however, slipped 5.55% to RM8.98 million, from RM9.51 million a year ago, dragged by lower revenue in all segments.
Kerjaya Prospek Group Bhd's net profit for the first quarter ended March 31, 2021 (1QFY21) rose 18.08% to RM26.38 million from RM22.34 million a year ago, in line with higher revenue. Its quarterly revenue also increased by 26.83% to RM268.67 million from RM211.84 million a year ago.
Telekom Malaysia Bhd (TM) saw its net profit for the first quarter ended March 31, 2021 (1QFY21) more than double to RM325.47 million from RM152.52 million in 1QFY20. The telco said the higher net profit was due to higher revenues across all of its segments apart from its other telecommunications services. TM saw its revenue increase 9.9% to RM2.81 billion from RM2.56 billion in the corresponding quarter last financial year.
Hong Leong Financial Group Bhd's (HLFG) third-quarter net profit rose 70.19% to RM577.27 million from RM339.2 million a year earlier due to higher contributions from all of HLFG's operating divisions, comprising Hong Leong Bank Bhd, HLA Holdings Group and Hong Leong Capital Bhd, as the financial services group prudently managed its business risks against the economic impact of the Covid-19 pandemic. HLFG's group revenue rose to RM1.58 billion in the third quarter ended March 31, 2021 (3QFY21) from RM1.14 billion. HLFG did not declare any dividend for 3QFY21.
Sime Darby Property Bhd saw its net profit skyrocket to RM60.61 million in its first quarter ended March 31, 2021 (1QFY21) from RM2.72 million in the corresponding quarter last financial year. Quarterly revenue also increased by 23.7% year-on-year (y-o-y) to RM589.49 billion from RM476.74 million in 1QFY20.
Malayan Banking Bhd (Maybank) saw its net profit for the first quarter ended March 31, 2021 (1QFY21) rise 16.71% year-on-year (y-o-y) to RM2.39 billion from RM2.05 billion in 1QFY20. Maybank's return on equity stood at 11.7% in 1QFY21 compared with 10.6% a year ago, while earnings per share rose 15% to 21 sen from 18.2 sen previously.
RHB Bank Bhd saw its net profit for the first quarter ended March 31, 2021 (1QFY21) grow almost 14% to RM650.29 million from RM570.88 million a year ago, mainly due to higher net funding and non-fund-based incomes, partially offset by higher allowances for credit losses, higher operating expenses and net modification loss. Quarterly revenue, meanwhile, fell 9.61% to RM2.91 billion versus RM3.21 billion in the previous year.
Icon Offshore Bhd said today it has received a second extension to charter its vessel Icon Kayra from Zell Transportation Sdn Bhd (ZT). The charter contract is worth RM167.96 million. The contract is for the charter of the vessel by ZT for a primary contract duration of 17.5 months with a further yearly extension option of four years, which will be effective from May 15.
Petronas Chemicals Group Bhd’s first quarter net profit surged nearly threefold to RM1.46 billion from RM506 million a year earlier as revenue rose on higher petrochemical product prices in tandem with the recovery in crude oil prices despite lingering concerns on the Covid-19 pandemic’s impact on the global economy. Petronas Chemicals said revenue rose to RM4.68 billion in the first quarter ended March 31, 2021 (1QFY21) from RM3.89 billion
Foxconn Technology Group is in talks to buy a stake in Malaysian technology firm Dagang NeXchange Bhd (DNeX), according to people familiar with the matter, after losing to it in bidding for a semiconductor company. The main assembler of Apple Inc’s iPhones could take a minority stake in DNeX and help to expand the business of its chipmaker SilTerra Malaysia Sdn Bhd, one of the people said, asking not to be identified as the matter is private. DNeX landed the winning offer in the sale of SilTerra in February, outbidding Foxconn.
OSK Holdings Bhd's net profit climbed 50.89% year-on-year (y-o-y) to RM116.41 million in the first quarter ended March 31, 2021 (1QFY21) versus RM77.16 million, on the back of higher revenue mainly driven by its property as well as financial services and investment holding segments. The diversified group's quarterly revenue rose 27.07% to RM324.96 million from RM255.73 million a year ago.
Tenaga Nasional Bhd's (TNB) net profit rose 33.54% to RM958.70 million for the first quarter ended March 31, 2021 (1QFY21) from RM717.90 million a year earlier, fuelled by significant reductions in foreign currency translation loss and an increase in accounting gain on fair value of financial instruments. Quarterly revenue, however, declined slightly by 1.51% to RM11.48 billion from RM11.65 million, mainly due to a reduction in electricity sales.
Malaysia Building Society Bhd (MBSB) reported a first quarter net profit of RM63.41 million versus a net loss of RM73.25 million a year earlier as the financial services provider registered lower funding costs while net allowance for impaired loans fell despite lingering concerns about the Covid-19 pandemic’s impact on the group’s profitability. Revenue slipped to RM680.98 million in the first quarter ended March 31, 2021 (1QFY21) from RM741.41 million.
Petron Malaysia Refining & Marketing Bhd returned to the black in the first quarter ended March 31, 2021 (1QFY21). The oil refiner achieved a net profit of RM103 million compared to a net loss of RM83.68 million a year ago, underpinned by higher gross profit and savings in operating and administrative expenses.
AirAsia Group Bhd said today its first quarter net loss narrowed to RM767.42 million from RM803.85 million a year earlier. Budget airline AirAsia said revenue fell to RM298.22 million in the first quarter ended March 31, 2021 (1QFY21) from RM2.31 billion a year earlier.
Media Prima Bhd swung back into profitability in the first quarter ended March 31, 2021 (1QFY21) with a net profit of RM5.25 million from a net loss of RM29.54 million a year ago, driven by higher revenue and lower operating expenses. Its revenue rose 6.75% to RM254.53 million from RM238.44 million a year ago, supported by higher advertising and non-advertising revenue.
BIMB Holdings Bhd’s net profit fell 3.24% to RM202.46 million in the first quarter ended March 31, 2021 (1QFY21) from RM209.24 million a year earlier, on lower net income. Revenue declined 3.8% to RM1.2 billion from RM1.24 billion as gross fund-based and non-fund-based income decreased, BIMB said.
IJM Plantations Bhd has posted its highest ever net profit and revenue for the financial year ended March 31, 2021 (FY21). The net profit was RM205.08 million, which compares to a net loss of RM62.42 million for FY20. Revenue, meanwhile, rose to a record RM935.69 million, up 26.6% from RM739.13 million previously.
Press Metal Aluminium Holdings Bhd’s net profit doubled to a record high of RM205.72 million or 2.55 sen per share in the first quarter ended March 31, 2021 (1QFY21) from RM102.57 million or 1.27 sen per share a year ago, driven by higher aluminium demand and prices. Quarterly revenue expanded 14.8% to RM2.1 billion from RM1.83 billion a year before.
7-Eleven Malaysia Holdings Bhd saw its net profit more than double to RM11.69 million in the first quarter ended March 31, 2021 (1QFY21), from RM4.44 million in the immediate preceding quarter. On a year-on-year basis, the net profit was slightly higher than the RM11.37 million reported in 1QFY2), while revenue rose from RM619.67 million.
QL Resources Bhd's net profit jumped 165% to RM114.06 million for the fourth quarter ended March 31, 2021 (4QFY21), from RM42.98 million a year earlier, on better earnings across all of its operating segments. Quarterly revenue came in 24% higher at RM1.21 billion from RM982.42 billion in 4QFY20.
UEM Edgenta Bhd’s net profit dropped 33.17% to RM8.1 million in the first quarter ended March 31, 2021 (1QFY21) from RM12.14 million in the previous year’s corresponding quarter, as it recorded lower contract amounts in its infrastructure solutions segment. Quarterly revenue slipped 3.65% to RM483.55 million from RM501.87 million.
Kanger International Bhd has inked a Memorandum of Understanding (MoU) with the Sabah Government to procure and import China’s Sinopharm Covid-19 vaccines. Under the MoU, Kanger will source the Sinopharm vaccines from abroad to be supplied to the Sabah Government, while the State Government appoints Kanger as the exclusive distributor of the vaccines in the State, subject to the approval of the Federal regulatory authorities.