TM, Silk Holdings, Litrak, Global Oriental, Muhibbah, Karex, NetX, Mikro MSC, Bina Puri, CMS, TH Heavy and UEM Sunrise

(Aug 30): Based on corporate announcements and news flow today, companies that might be in focus on Thursday (Sept 1) include the following: Telekom Bhd (TM), Silk Holdings Bhd, Lingkaran Trans Kota Holdings Bhd (Litrak), Global Oriental Bhd, Muhibbah Engineering (M) Bhd, Karex Bhd, NetX Holdings Bhd, Mikro MSC Bhd, Bina Puri Holdings Bhd, Bhd (CMS), TH Heavy Engineering Bhd and UEM Sunrise Bhd.

Telekom Malaysia Bhd (TM)’s net profit fell 34.24% to RM139.45 million or 3.71 sen per share in the second quarter ended June 30, 2016 (2QFY16), from RM212.07 million or 5.69 sen per share a year ago, on lower operating profit, higher finance cost and foreign exchange losses on its borrowings, arising from the weakening of ringgit against U.S. dollar.

Revenue for the quarter however, rose 7.39% to RM3.05 billion, from RM2.84 billion in 2QFY15, a filing with Bursa Malaysia showed.

In a separate filing, TM announced a first interim single tier dividend of 9.3 sen per share for the ending Dec 31, 2016 (FY16), payable Oct 7. The ex-date and entitlement dates fall on Sept 15 and Sept 20, respectively.

Silk Holdings Bhd announced a net loss of RM16.9 million or 2.41 sen per share in the second quarter ended June 30, 2016 (2QFY16) on the back of RM41.2 million revenue, due to sluggish oil and gas (O&G) activities.

Its O&G division is now its main revenue contributor — contributing some 91% of the group’s revenue for the quarter — following the disposal of Sistem Lingkaran Lebuhraya Kajang Sdn Bhd to WZ Satu Bhd on June 1.

In a bourse filing today, its six-month period ended June 30, 2016 (1HFY16) recorded a net loss of RM24.6 million or 3.51 sen per share, on a revenue of RM88.12 million.

Lingkaran Trans Kota Holdings Bhd (Litrak)’s net profit for the first quarter of financial year ended June 30, 2016 (1QFY17) jumped by 40.47% to RM61.09 million or 11.68 sen per share, from RM43.49 million or 8.42 sen per share a year ago, mainly attributable to higher revenue recognised, resulting from toll rates increase for LDP, scheduled for Jan 1, 2016.

The group’s revenue for the quarter grew by 41.43% to RM136.02 million, from RM96.17 million, due mainly to higher traffic volume recorded in the current quarter. The higher revenue in the current quarter, as compared to preceding year’s corresponding quarter, was also mainly due to LDP’s scheduled Jan 1, 2016 toll rates increase.

The board of directors has approved a single tier interim dividend of 10 sen per ordinary share for the financial year ending March 31, 2017. The payable date and ex-date for the interim dividend, has yet to be announced.
Global Oriental Bhd announced that its chief operating officer (COO) Ranjeet Singh Sarjit Singh has stepped down from his post with immediate effect, to pursue his own interest.

In a filing with Bursa Malaysia today, the said Ranjeet, 50, will cease to be the company’s COO, effective today.

He has been the COO at Global Oriental since April 1, 2009, and joined the group as group senior general manager in June 2008.
Muhibbah Engineering (M) Bhd‘s second quarter net profit rose 39.2% to RM26.8 million or 5.67 sen per share, from RM19.3 million or 4.17 sen per share a year earlier, following more contribution from its construction, shipyard and concession divisions.

Revenue for the quarter ended June 30, 2016 (2QFY16) rose 1.2% to RM406.3 million, from RM401.5 million in 1QFY15, Muhibbah said in bourse filing.

For the first half of financial year (1HFY16), net profit went up 18.8% to RM50.6 million or 10.74 sen per share, from RM42.5 million or 9.52 sen per share in 1HFY15. Revenue climbed 14.8% to RM888.1 million, from RM773.5 million.

Karex Bhd saw its net profit for the fourth quarter ended June 30, 2016 (4QFY16) fall 25.8% to RM12.59 million or 1.26 sen per share, from RM16.97 million or 1.69 sen per share previously, attributable to adjustment of selling price, due to favourable exchange rate gain.

Revenue for the quarter gained 3.5% to RM82.33 million, from RM79.57 million a year ago, due to higher volume of condom sales.

For the full year (FY16), the world’s largest condom maker by volume said its net profit rose 12.8% to RM67.16 million or 6.7 sen per share, from RM59.55 million or 6.34 sen per share a year earlier.

Annual revenue was 15.1% higher at RM343.22 million, from RM298.09 million in FY15.

NetX Holdings Bhd has aborted its tied up with an United Arab Emirates (UAE) firm for the distribution of mobile payment software, solution and/or service, excluding hardware in Iran and UAE.

According to its bourse filing today, the information and technology company said the memorandum of understanding (MoU) it had inked with UAE-registered Blackrockme Pvt Ltd has been called off, as either party could not agree on the terms of a definitive agreement.
Mikro MSC Bhd‘s net profit for the fourth quarter ended June 30, 2016 (4QFY16) rose 23.77% to RM2.37 million, from RM1.92 million a year earlier, mainly due to higher revenue and better gross margin recorded.

Revenue rose 17.94% to RM12.52 million, from RM10.62 million, the group said in a filing with Bursa Malaysia, adding that a higher proportion of sales were conducted in Malaysia in 4QFY16.

Mikro MSC declared a final single tier dividend of 0.5 sen per share and a special dividend of 0.5 sen per share for FY16, bringing total payout to 2.1 sen, translating into a of 4.57%.

Bina Puri Holdings Bhd‘s net profit fell 30.9% to RM902,000 or 0.39 sen a share for the second quarter ended June 30, 2016 (2QFY16), from RM1.31 million or 0.67 sen a share a year ago, on deferred tax charges amounting to RM3.3 million, and lower contribution from the quarry division which was affected by lower pricing.

Revenue, however, rose 13.6% to RM302.58 million in 2QFY16, from RM266.38 million in 2QFY15, on higher contribution from its ready mix concrete and property divisions during the quarter under review.

Net profit fell 32.7% to RM1.71 million in the cumulative six months (1HFY16), from RM2.55 million a year ago, as revenue slipped 1.3% to RM597.07 million, from RM604.79 million in 1HFY15.

Cahya Mata Sarawak Bhd (CMSB)’s net profit for the second quarter of financial year ended June 30, 2016 (2QFY16) fell by 80.6% to RM7.90 million, from RM40.66 million in the corresponding quarter a year ago, due mainly to the share of exceptional losses of an associate of the group.

The group’s revenue climbed higher by 5.83% to RM398.82 million, as compared with its revenue of RM376.86 million in the prior’s year’s corresponding quarter.

CMSB’s net profit for the first half of financial year ended June 30, 2016 (1HFY16) saw a sharp decline of 90.88% to RM8.95 million, from RM98.08 million in 1HFY15. The group’s revenue for the 1HFY16 also fell by 14.07% to RM745.72 million, from RM867.84 million in 1HFY15.

TH Heavy Engineering Bhd (THHE) says its new chief executive officer (CEO) Suhaimi Badrul Jamil’s and finance background, as well as his restructuring experience, should help take the company “on a fresh course in the low-for-long crude price environment”.

In a statement today, the company said Suhaimi’s extensive experience in the oil and gas (O&G) industry and finance and banking, will help the company focus on the right business strategies to shape it into a robust entity, with a balanced portfolio of O&G and non-O&G businesses.

Suhaimi, meanwhile, said: “As a CEO, my priorities are to set THHE on a new path by securing new business opportunities that are not bound by the vacillating crude price environment, and by aggressively pursuing cost optimisation.”

UEM Sunrise Bhd‘s second quarter net profit declined 35% on year to RM54.66 million, due to the property developer’s one-off items in the previous corresponding quarter.

Current quarter’s lower profit margin also affected profit growth, UEM Sunrise told Bursa Malaysia today.

UEM Sunrise said the RM54.66 million net profit in the second quarter ended June 30, 2016 (2QFY16), fell from RM83.91 million a year ago (2QFY15). 2QFY16 revenue meanwhile grew to RM537.81 million, from RM372.32 million in the previous corresponding quarter.

Source: The Edge Markets

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