Stocks in Focus [21 July 2017]

(July 20): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (July 21) may include the following: Maxis, Westports, Kerjaya Prospek, BAT, Tien Wah, FGV, UOA , Bina Darulaman, Rev Asia, Gabungan AQRS, AmProp, VS Industry, Syarikat Takaful and Careplus Group.

Maxis Bhd‘s second quarter net profit rose 18% to RM574 million from a year earlier, as the mobile telecommunication network provider’s postpaid and prepaid segments’ revenue increased.

Revenue climbed to RM2.17 billion  for the quarter ended June 30, 2017 from RM2.1 billion a year earlier.

The company declared a tax-free dividend of five sen a share.

Westports Holdings Bhd reported that net profit in the second quarter ended June 30, 2017 declined 6.9% — its second straight quarterly tumble — mainly due to an 11% drop in container throughput handled in the current quarter under review.

Net profit fell to RM148.82 million from RM159.87 million a year ago. Revenue dropped 4.1% to RM501.44 million from RM522.63 million.

Westports declared a first interim dividend of 6.37 sen per share, payable on Aug 15.

Kerjaya Prospek Group Bhd has bagged a RM64.22 million contract to undertake foundation piling works and associated sub-structure works for a proposed mixed development on Jalan Puchong in Kuala Lumpur.

Kerjaya said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award from Kerjaya Prospek Property Sdn Bhd, a related party, for the proposed job

British American Tobacco () Bhd‘s (BAT Malaysia) second-quarter net profit tripled to RM144.08 million from RM47.72 million a year ago, largely thanks to increased domestic and duty-free volumes and a decline of illegal cigarette incidence.

Earnings per share for the quarter ended March 31, 2017 rose to 51.6 sen from 16.8 sen a year earlier.

Quarterly revenue, however, fell 19.6% to RM774.09 million from RM962.58 million.

BAT Malaysia declared a second interim dividend of 43 sen per share, payable on Aug 23.

Meanwhile, following the closure of BAT’s in Petaling Jaya, Tien Wah Press Holdings Bhd is planning to stop its printing business in the country held under its wholly-owned subsidiary, Tien Wah Press (Malaya) Sdn Bhd.

Felda Global Ventures Holdings Bhd (FGV) has appointed its chief operating officer of logistics and others sector Datuk Khairil Anuar Aziz to take over the duties and responsibilities of suspended group president and chief executive officer Datuk Zakaria Arshad with immediate effect.

The plantation giant said its board executive committee, comprising FGV directors Datuk Omar Salim and Datuk Mohd Zafer Hashim and head of logistics cluster Azman Ahmad, has been disbanded.

UOA Real Estate Investment Trust (REIT)’s second quarter net rental income fell 15% to RM14.56 million, from RM17.1 million a year ago, on lower gross rental.

It declared an income distribution per unit (DPU) of 2.06 sen for the quarter ended June 30, 2017, against 2.61 sen in the same period last year. UOA REIT registered a gross rental fall by 11% to RM20.46 million, from RM23.02 million a year ago.

Bina Darulaman Bhd has unveiled two upcoming integrated township developments in Kedah worth a total of RM2.6 billion in gross development value.

The two projects — Darulaman Saujana in Jitra and Darulaman Putra in Sungai Petani — are expected to be launched by its wholly-owned BDB Land Sdn Bhd this year, to be developed over the next 10 years.

Rev Asia Bhd, which is selling its digital media arm to Media Prima Bhd, said it is in talks with two companies as part of its plan to expand its business within the digital space in the Asean region.

However, there were no disclosures on the two technology-based companies that it is considering to acquire.

Gabungan AQRS Bhd has inked a Memorandum of Understanding  with ’s Tera Capital Pte Ltd to jointly develop its One Jesselton Waterfront mixed development in Kota Kinabalu, Sabah.

Gabungan AQRS will develop the and serviced suites portion of the development according to the design concept provided by Tera Capital.

Meanwhile, Tera Capital, a Singapore-based investment firm with offices in Beijing and Shanghai, will bring in a “partner-contractor” to form a with Gabungan AQRS’s wholly-owned subsidiary, Gabungan Strategik Sdn Bhd, for the construction of the project.

Amcorp Properties Bhd said it has mutually extended validity of its 50:50 real estate joint venture in Spain with Grosvenor Group Ltd to nine years, from five previously.

VS Industry Bhd’s 43.49% Hong-Kong listed associate VS International Group Ltd (VSIG) has undertaken a one-for-four totalling a minimum of 459.95 million shares, to raise a minimum of HK$102.8 million (RM56.41 million).

VS Industry said it will subscribe to 200.02 million shares or 43.5% of the right shares worth HK$46.01 million (RM25.25 million).

VS Industry had on July 19 inked an agreement with VSIG to underwrite all the rights shares not subscribed. “The subscription to the rights issue is funded entirely via borrowings from financial institution,” VS Industry said.

Syarikat Takaful Malaysia Bhd‘s net profit for its second quarter ended June 30, 2017 came in flat at RM45.07 million, compared with RM45.53 million a year ago, as it recorded higher taxation, despite a 2% rise in profit before zakat and taxation to RM59.7 million due to higher net wakalah fee income.

Revenue was up 5% to RM485.34 million from RM462.21 million in the previous year’s corresponding quarter on higher sales in both its general takaful and family takaful segments.

Careplus Group Bhd has proposed to place out new shares to third party investors to raise RM18.85 million to finance the expansion of its production facilities.

The glove manufacturer said the private placement will involve up to 48.33 million shares or 10% of its total number of issued shares and the identity of the third party investors and issue price will be determined later.

Source: The Edge Markets

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