KUALA LUMPUR, June 11 ― The crude palm oil (CPO) price is likely to trend higher in the second half of 2019 (2H19) as the weak price for the first quarter was dragged down by the huge brought forward stockpile, says Maybank Investment Bank. The…
KUALA LUMPUR, May 23 — UEM Sunrise Bhd’s net profit increased 19 per cent to RM30.10 million in the first quarter for the financial year ended March 31, 2019 compared with RM25.29 million in the same quarter last year. In a filing…
PETALING JAYA: Kuala Lumpur Kepong Bhd’s (KLK) net profit for the second quarter (Q2) ended March 31, 2019 jumped 34.7% to RM142.96 million from RM106.15 million a year ago, thanks to lower taxation and surplus of RM25.6 million arising from the government’s acquisition of plantation land.
However, its revenue fell 15.9% to RM3.94 billion compared with RM4.69 billion in the previous year’s corresponding quarter as plantation profit was substantially lower by 55.8%.
The group has proposed to declare an interim dividend of 15 sen per share for the quarter under review.
For the six-month period, KLK’s net profit grew 15.3% to RM393.87 million from RM341.51 million a year ago, mainly thanks to surplus from government’s acquisition of plantation land of RM48.1 million and foreign currency exchange gain of RM35 million from translation of inter-company loans denominated in foreign currencies.
Its revenue declined 18.6% to RM8.03 billion from RM9.86 billion.
KLK told Bursa Malaysia that in Q2, its CPO and palm kernel prices slipped 17.9% and 37.3% year-on-year to RM1,969 and RM1,301 per tonne due to high stocks level.
For oleochemical business, the profits for the first half was lower as compared to the same period last year. Going forward, margins are volatile but reasonable profit is expected in view of capacity utilisation.
“Overall, the group’s operational profits are expected to be lower for financial year 2019,“ KLK said.
KUALA LUMPUR, May 13 — Maybank IB Research expects the plantation sector to see continued earnings pressure in the first quarter of 2019 (Q1 2019), mainly on weak spot crude palm oil (CPO) average selling price (ASP). In a note today, it said…
KUALA LUMPUR: Bursa Malaysia finished trading Friday on a negative note, in sync with some key regional bourses amid mounting worries over the global economy outlook.
The jitters in the external market sparked by the ongoing US-China two-day trade meeting have spilled over into the local bourse.
Leading losers in the decliners list included consumer products and services related counters — Nestle, which lost RM1 to RM144.00, while F&N declined 48 sen to RM33.38.
The benchmark FTSE Bursa Malaysia KLCI dipped 8.26 points to 1,610.27 against Thursday’s close of 1,618.53.
The index, which opened at 1,615.91, down by 2.62 points, moved between 1,610.27 and 1,620.40 throughout the day.
Overall, losers outnumbered gainers 465 to 335 with 404 counters unchanged, 706 untraded and 24 others suspended.
Turnover increased to 2.29 billion shares worth RM1.84 billion from 2.14 billion shares worth RM2.02 billion recorded yesterday.
A dealer said concerns over the trade talks progress by Washington and Beijing had dragged Malaysian palm oil futures price down by one per cent.
Plantation stocks such as IOI Corp lost 11 sen to RM4.24, Sime Darby Plantation fell four sen to RM4.95 and Kuala Lumpur Kepong was 14 sen lower at RM24.50.
Among the heavyweights, Maybank was flat at RM8.97, Public Bank fell two sen to RM22.26 while Petronas Chemicals was one sen lower at RM8.89.
Of the actively-traded stocks, Bumi Armada inched down one sen to 20 sen, Ekovest added half-a-sen to 88 sen while its warrants were 1.5 sen better at 39.5 sen.
The FBM Emas Index declined 53.02 points to 11,374.96, the FBMT 100 dipped 52.71 points to 11,205.05 and the FBM 70 lost 46.95 points to 14,079.05.
The FBM Emas Shariah Index erased 82.96 points to 11,550.43 and the FBM Ace Index was down 12.11 points to 4,532.57.
Sector-wise, the Financial Services Index dropped 33.72 points to 16,566.18, the Plantation Index fell 57.47 points to 7,050.28 and the Industrial Products and Services Index was 0.41 of-a-point lower at 166.68.
Main Market volume rose to 1.48 billion shares valued at RM1.67 billion from 1.33 billion shares valued at RM1.85 billion recorded yesterday.
Warrants turnover increased to 439.87 million units worth RM122.21 million versus 399.71 million units worth RM114.40 million.
Volume on the ACE Market decreased to 366.31 million shares valued at RM49.46 million from 411.74 million shares valued at RM56.02 million.
Consumer products and services accounted for 196.97 million shares traded on the Main Market, industrial products and services (168.35 million), construction (319.07 million), technology (77.78 million), SPAC (nil), financial services (46.80 million), property (141.59 million), plantation (23.26 million), REITs (12.38 million), closed/fund (0), energy (409.50 million), healthcare (21.89 million), telecommunications and media (28.17 million), transportation and logistics (13.76 million) and utilities (16.71 million). – Bernama
KUALA LUMPUR, April 26 — Bursa Malaysia closed higher today on mild bargain-hunting in lower liners and small caps, amid cautious sentiment over the local and global economic growth prospects, dealers said. At the close, the benchmark FTSE Bursa…
KUALA LUMPUR, Feb 27 — The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained in the red at mid-morning today, weighed by selected heavyweights led by Sime Darby Plantation and IHH Healthcare. At 11.05am, the benchmark index eased 7.59 points…
KUALA LUMPUR, Dec 21 — Bursa Malaysia ended the morning session mixed as Tenaga and Kuala Lumpur Kepong helped lift the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) amid weak regional markets. At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI…
PETALING JAYA: Tadmax Resources Bhd reported a net profit of RM4.45 million for the third quarter ended Sept 30, 2018 compared with a net loss of RM19.82 million a year ago, driven by the property business segment.
In a filing with Bursa Malaysia, the group said its property business reported a pre-tax profit of RM8.43 million during the quarter. It was the only segment that reported a profit during the quarter.
Revenue for the quarter rose 79.20% to RM46.17 million from RM25.76 million a year ago, due mainly to contribution from the property business segment, which in turn was attributed to the higher percentage completion achieved by its Mizumi Residences project in Kepong.
For the nine-month period, the group's net profit plunged 90.34% to RM2.66 million from RM27.56 million a year ago while revenue jumped 86.36% to RM120.22 million from RM64.51 million.
Moving forward, Tadmax said the final quarter of the financial year ending Dec 31, 2018 will see contribution from the continued progress and performance of Mizumi Residences, which has already been 80% taken up.
However, the group said the energy business will not contribute to its near-term profitability as it would take about four years before commercial operation begins. Submission of the final technical and commercial proposal was made to the Energy Commission on July 31, 2018.
Recall that the company had entered into a heads of agreement on Sept 14, 2018 with Selangor government-linked Worldwide Holdings Bhd and Korea Electric Power Corp, which is expected to augur well for the group's power plant project in Pulau Indah.
As for the industrial supplies business, the group said the anticipated reduced activity in the construction market will be a challenge for the segment's revenue growth potential for the rest of 2018 and next year.