TNB: TNB'S newly appointed chairman Datuk Awang Adek Hussin said the utility giant was expected to maintain its net profit of RM1.4bil in the current financial year ending Aug 31, 2003, while power demand would grow between 5% and 6% this year. According to OSK Research, TNB's in-house forecast was well within the market's estimates. TNB's share price closed at RM9.05 last Friday, five sen lower than where it was two weeks earlier. The blue chip counter had risen steadily to a high of RM9.50 as the New Year approached but fell 45 sen or 4.7% on the first trading day of 2003.
For latest TNB share prices and charts click here LITRAK: TRAFFIC growth at Damansara-Puchong Highway (LDP) is still strong up 12% since March 2002. Affin-UOB Securities expects traffic volume to register a 15% growth for the financial year ending March 2003. Meanwhile, the highway concessionaire Litrak has recently started on a RM174mil project capacity enhancement programme – building four new interchanges and upgrading two existing ones – to further improve traffic flow along the LDP over the longer term. Litrak's debt profile is also healthier now, after the completion of a refinancing exercise.
For latest Litrak share prices and charts click here WCT: WCT near-term earnings growth will be driven by construction jobs worth RM1.4bil (excluding the Bakun Dam project, which has yet to be finalised) and unbilled property sales worth an estimated RM250mil. To further boost income this year, the company said it was considering participation in another Formula One (F1) race circuit project – this time in Turkey. Recently, WCT and a joint-venture partner secured a RM569mil contract to construct a purpose-built F1 track in Bahrain. Also, it is planning a further foray into Bahrain's infrastructure construction market.
For latest WCT share prices and charts click here IOI: ITS recent acquisition of Palmol estates and Loders Croklaan will add further depth and breadth to IOI Corp's earnings base. With crude palm oil (CPO) prices on the rise, IOI Corp's forward earnings should continue to post strong growth. Analysts have projected a higher average selling price of CPO at RM1,500 per tonne this year compared to just RM1,075 last year. Meanwhile, IOI Corp's property projects have experienced a slowdown in sales in line with the softer property market. However, the company is confident that it has the right product mix; it just takes longer to get a given take-up rate com¬pared to last year.
For latest IOI share prices and charts click here MAS: THINGS are looking up for MAS. The company returned to profitability in the second quarter ended Sept 30, 2002, and analysts believe MAS is all set to post its first full year profit in the current financial year. Already MAS management has indicated that the company is targeting a net profit of RM94mil for the year ending March 31, 2003. On the downside, rising fuel costs and war risk in Iraq may prove to be a spoiler to MAS' recovery. However, talks of a possible international fare hike by of 3% to 5%, which is expected to come into effect soon, could help the carrier mitigate rising costs.
For latest MAS share prices and charts click here