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Cahya Mata, KNM, Kim Hin, Perisai, Ibraco, Vitrox, Karex and Power Root
By Ahmad Naqib Idris / theedgemarkets.com | February 25, 2017 : 1:03 AM MYT
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KUALA LUMPUR (Feb 24): Based on corporate announcements and newsflow today, stocks in focus on Monday (Feb 27) could include: Cahya Mata Sarawak Bhd, KNM Group Bhd, Kim Hin Industry Bhd, Perisai Petroleum Teknologi Bhd, Ibraco Bhd, Vitrox Corp Bhd, Karex Bhd and Power Root Bhd.
A land sale gain of RM25 million gave Cahya Mata Sarawak Bhd's (CMS) net profit a boost in its fourth quarter ended Dec 31, 2016 (4QFY16), compared with the same period a year earlier.
Net profit came in 20% higher at RM101.5 million, versus RM84.6 million in 4QFY15, although revenue shrank 11% to RM450.3 million, from RM508.3 million, its stock exchange filing today showed.
It proposed a final single-tier dividend of 6.3 sen for FY16, which will be paid on a date to be announced later.
Full year (FY16) net profit fell 32% year-on-year to RM169.2 million, from RM248.1 million while revenue shed 13% y-o-y to RM1.5 billion, from RM1.8 billion.
KNM Group Bhd slipped into the red in its fourth quarter ended Dec 31, 2016 (4QFY16), posting a net loss of RM330.38 million or 15.49 sen loss per share against a net profit of RM6.01 million or 0.32 sen per share a year ago, mainly due to losses in its Canada and Kuantan operations, foreign exchange losses and unforeseen logistic costs.
Quarterly revenue fell 10% to RM411.07 million in 4QFY16 from RM457.43 million in 4QFY15.
The weak fourth-quarter results dragged KNM's financial reports for the full-year (FY16) down; it posted a net loss of RM311.68 million or 14.61 sen loss per share — its first annual loss since FY11 — against a net profit of RM49.53 million or 2.65 sen per share in FY15. Revenue came in slightly higher at RM1.65 billion from RM1.64 billion in the previous year.
Kim Hin Industry Bhd's net profit for the fourth quarter ended Dec 31, 2016 (4QFY16) leapt 250% to RM13.09 million, from RM3.74 million a year earlier, on increased revenue.
Revenue improved by 21.5% to RM118.75 million from RM97.74 million, thanks to contributions from the group's Australian subsidiary, Outset Holdings Pty Ltd, which it acquired on Sept 1, 2016.
For the full FY16, Kim Hin's net profit declined 11.9% to RM30.28 million from RM34.36 million in FY15.
Outset Holdings's performance also lifted the group's FY16 revenue by 9.8% to RM403.39 million from RM367.44 million in FY15.
Perisai Petroleum Teknologi Bhd posted a net profit of RM10.25 million in the fourth quarter ended Dec 31, 2016 (4QFY16), from a net loss of RM724.58 million a year ago, mainly due to lower impairment losses.
A filing with Bursa Malaysia showed that the Practice Note 17 (PN17) company's revenue declined 30.73% to RM38.27 million from RM55.25 million.
Perisai, an upstream services provider of oil and gas vessels and facilities, said this was mainly due to lower charter rate in the quarter after completion of the farm-out contract to Hess Exploration and Production Malaysia B.V. on Aug 6, 2016.
For the full year (FY16), Perisai's net loss narrowed to RM289.78 million, compared with its previous year's net loss of RM706.32 million.
This was despite a 13.8% fall in revenue. Its FY16 revenue stood at RM185.15 million, down from RM214.78 million in FY15.
Sarawak-based property developer Ibraco Bhd's net profit in the fourth quarter ended Dec 31, 2016 (4QFY16) dropped 80% to RM3.27 million, from RM16.56 million a year earlier.
Revenue was down 68% at RM26.65 million from RM83.95 million a year ago.
For its full year, Ibraco's net profit fell 41% to RM27.07 million from RM45.96 million a year ago. Revenue declined 37% to RM158.77 million from RM254.04 million a year ago.
In a filing with Bursa Malaysia today, the group said changes in product mix, sales and completion status of its properties had an impact on its earnings. It said its earnings were also impacted by any movement in raw material and labour costs.
However, demand for its properties has been satisfactory to date, it said.
Vitrox Corp Bhd saw its net profit in the fourth quarter for the financial year ended Dec 31, 2016 (4QFY16) swell by 104.6% to RM19.06 million from RM9.32 million a year ago mainly on higher revenue during the period under review.
Revenue in 4QFY16 rose 32.6% to RM63.71 million from RM48.06 million in 4QFY15, on increased revenue from its product, the Automated Board Inspection (ABI), which increased by 51% y-o-y.
“The increase was mainly due to higher demand from a wider customer base,” the group said in its filing with Bursa Malaysia.
Net profit for full year FY16 stood at RM64.95 million, up 46.6% from RM44.32 million a year earlier, whereas FY16 revenue rose 46% to RM234.03 million against FY15 revenue of RM160.29 million.
Karex Bhd’s net profit fell 56% to RM10 million in the second quarter ended Dec 31, 2016 (2QFY17), from RM22.6 million a year ago, mainly due to higher distribution and marketing expenses, as well as one-off expenses.
One-off expenses included expenses related to a corporate exercise, and trademark and registration.
Revenue however, saw a marginal 1% rise year-on-year to RM97.6 million in 2QFY17, from RM96.6 million, said the condom maker in a filing with Bursa Malaysia.
For the cumulative six months (6MFY17), net profit dropped 60% y-o-y to RM18.1 million from RM44.9 million a year ago, though revenue grew 3% to RM177.6 million, versus RM172.7 million in 6MFY16.
Herbal energy drinks manufacturer Power Root Bhd’s net profit for the third quarter ended Dec 31, 2016 (3QFY17) rose by 43.8% to RM12.53 million, from RM8.71 million a year ago, mainly due to improved sales.
In its filing with Bursa Malaysia, Power Root said revenue in 3QFY17 climbed 20.3% to RM103.32 million from RM85.87 million in 3QFY16, on higher overseas sales.
The group has proposed a third interim single tier dividend of 2.5 sen per ordinary share for the financial year ending March 31, 2017 (FY17).
For the cumulative nine months of FY17 (9MFY17), the group posted a net profit of RM34.17 million, down 9% from RM37.54 million a year ago (9MFY16).
Revenue in 9MFY17, meanwhile, increased by 10.4% to RM307.71 million from RM278.78 million.