KUALA LUMPUR (April 27): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (April 28) include: Bursa Malaysia Bhd, Tasco Bhd, Frontken Corp Bhd, Unisem (M) Bhd, Globetronics Technology Bhd, Sapura Energy Bhd, Nestle (Malaysia) Bhd, Westports Holdings Bhd, RGT Bhd, Atrium Real Estate Investment Trust (Atrium REIT), SHH Resources Holdings Bhd, Seacera Group Bhd, Bintai Kinden Corp Bhd and Inta Bina Group Bhd.
Bursa Malaysia Bhd’s net profit for the first quarter ended March 31, 2021 almost doubled to RM121.39 million from RM64.73 million reported in the previous year, largely due to higher operating revenue. The stock exchange operator’s quarterly revenue surged 54.08% to RM232.28 million against RM150.75 million, supported by higher trading revenue in the securities and Islamic market segments.
Logistics solutions provider Tasco Bhd closed its financial year ended March 31, 2021 with record-high annual earnings and revenue, driven by Covid-19 pandemic-induced spike in shipping rates. Net profit leapt four times to RM41.27 million from RM8.89 million in the previous year, while revenue expanded 26.65% to RM946.61 million from RM747.44 million. For the final quarter, Tasco made a net profit of RM16.34 million, against a net loss of RM377,000 a year earlier, as revenue jumped 58.88% to RM295.88 million from RM186.24 million.
Frontken Corp Bhd’s net profit for the first quarter ended March 31, 2021 climbed 34.68% to RM22.91 million, from RM17.01 million a year earlier, on improved revenue and better profit margin. Quarterly revenue grew 21.97% to RM103.52 million from RM84.87 million, mainly due to bigger contributions from the group’s subsidiaries in Taiwan and Malaysia.
Semiconductor manufacturer Unisem (M) Bhd said its 1QFY21 net profit from continuing operations jumped about ninefold to RM45.79 million from RM5.32 million a year earlier, as revenue rose on higher sales volume. Revenue from continuing operations rose to RM373.94 million from RM255.16 million.
Miniaturised optical sensors manufacturer Globetronics Technology Bhd saw its net profit risen by 15.15% to RM12.54 million in 1QFY21 from RM10.81 million a year earlier, while quarterly revenue also rose by 2.74% to RM55.4 million from RM53.92 million a year earlier. The higher net profit for the current quarter was mainly due to higher volume loadings from certain of the group’s customers and better economy of scale achieved.
Sapura Energy Bhd’s three consecutive quarters of profitability was snapped in the fourth quarter ended Jan 31, 2021 (4QFY21) with a net loss of RM216.03 million, caused by weak engineering and construction (E&C) margins and higher operating expenses. The net loss is, nonetheless, considerably lower than the RM4.23 billion quarterly in 4QFY20, when the group was operating at a loss and incurred over RM3 billion in impairments. Revenue rose 29.8% from RM1.11 billion in 4QFY20. Meanwhile, Sapura Energy’s wholly-owned subsidiaries in engineering and construction have been awarded six contracts with a combined value of approximately RM1 billion.
Nestle (Malaysia) Bhd's net profit for 1QFY21 fell 6% to RM175.16 million from RM186.31 million a year earlier, underpinned by lower out-of-home sales activities due to the Covid-19 pandemic. Quarterly revenue, however, rose marginally by 1% to RM1.45 billion against RM1.43 billion, fuelled by robust in-home consumption, with good momentum across most brands.
Westports Holdings Bhd is expecting a single-digit container throughput growth level for the current financial year ending Dec 31, 2021 (FY21), said group managing director Datuk Ruben Emir Gnanalingam. Westports handled a container throughput of 10.5 million TEUs (twenty-foot equivalent units) in FY20, the second highest ever in the group's history and only 3% lesser than the previous year's record volume. The group also adopted a prudent approach of temporarily trimming the payout ratio to 60% to conserve cash in FY20, which it will revert to a payout ratio of 75% in the current year.
RGT Bhd's net profit for the third quarter ended March 31, 2021 surged 396% to RM3.03 million, from RM610,000 a year earlier, as revenue jumped 110% to RM32.29 million, from RM15.4 million, on the back of strong increase in demand for hygiene care products such as sanitisers and soap dispensers. For the cumulative nine months, net profit grew by four times to RM11.38 million, from RM2.83 million a year ago, while revenue ballooned 133.4% to RM119.41 million, from RM54.16 million.
Atrium Real Estate Investment Trust (Atrium REIT) saw its net property income (NPI) for 1QFY21 increased by 18.74% to RM9.09 million from RM7.66 million a year earlier, while revenue increased16.93% to RM9.65 million from RM8.25 million. The REIT attributed the better performance to rental income from its Atrium Bayan Lepas 1 property in Penang, which commenced operations in October 2020. It is proposing a distribution per unit of 2.5 sen, versus the two sen in 1QFY20.
Furniture maker SHH Resources Holdings Bhd is implementing a seven-day stoppage at its subsidiary's manufacturing facilities in Muar from today, after an employee tested positive for Covid-19. SHH expects a delay in shipment of several sales orders to some of its customers, and is discussing with the affected customers for an extension of time to deliver the items, but it does not expect any material impact on its financial performance other than the costs incurred for the disinfection process, swab test and daily meal allowances to workers.
Seacera Group Bhd has bagged a contract to supply personal protective equipment (PPE) and hand sanitisers to 145 Bank Islam Malaysia Bhd (BIMB) outlets. The group did not disclose any value for the contract, saying only that a purchase order will be issued as and when the products are required by the outlets over a two-year period.
Bintai Kinden Corp Bhd's subsidiary Bintai Healthcare Sdn Bhd has received the Certificate of Conformity in Good Distribution Practice for Medical Devices from Medivice Certification Sdn Bhd for its Greenie Medi Cold Chain Box, which is designed to store and distribute Covid-19 vaccines. The certification will allow it to act as a local authorised representative, as well as to import, store, handle, distribute, warehouse and document medical devices, specifically the hospital hardware and reusable devices.
Inta Bina Group Bhd is planning to issue 147.2 million free warrants to shareholders. It will be issuing the warrants on the basis of one warrant for every four existing ordinary shares held, at an entitlement date to be disclosed later.