News in brief


  • Business
  • Wednesday, 19 Nov 2003

·Malaysian Pacific Industries BHD'S (MPI) net profit surged 85% to RM12.9mil for the first quarter ended Sept 30 from RM7mil in the same quarter of 2002. 

Pre-tax profit jumped 37.8% to RM22.1mil compared with RM16mil year-on-year. Revenue increased by 12.3% to RM246.9mil from RM219.9mil. 

MPI declared a gross first interim dividend of 15 sen per share tax exempt for the quarter. 

·Kian Joo Can Factory Bhd'S pre-tax profit jumped 42.6% to RM18.8mil for the third quarter ended Sept 30 compared with RM13.2mil in the previous corresponding quarter. 

Revenue increased by 9% to RM134.5mil from RM123.3mil previously. 

The group's pre-tax profit improved by 35.1% to RM44.8mil for the nine months ended Sept 30, compared with RM33.1mil in the same period last year. Revenue rose 4.4% to RM372.9mil from RM357mil.  

The higher pre-tax profit was mainly due to improved results from the aluminium cans and general cans divisions. 

Kian Joo said market conditions were expected to remain competitive with major raw material prices rising during the year.  

However, with the introduction of new products and the continuous upgrading of equipment, the group expects its performance to improve for the current financial year. 

·TRADEWINDS (M) BHD has reported higher pre-tax profit of RM31.1mil on revenue of RM176.3mil for its third quarter ended Sept 30from pre-tax profit of RM22.3mil on revenue of RM189.4mil in the previous corresponding quarter.  

Its earnings per share for the third quarter rose to 8.72 sen from 5.56 sen. 

For the nine months ended Sept 30, Tradewinds posted pre-tax profit of RM83.8mil on revenue of RM558.9mil compared with pre-tax profit of RM49.6mil on revenue RM526.8mil in the same period last year.  

Its earnings per share for the nine months was higher at 21.28 sen compared with 12.71 sen before. 

·MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BHD (MIDF) has posted pre-tax profit of RM48.76mil on revenue of RM144.2mil for the second quarter to Sept 30, compared with pre-tax loss of RM1.99mil on revenue of RM35.64mil in the previous corresponding quarter. 

Over six months, its pre-tax profit jumped to RM106.1mil on revenue of RM307.1mil compared with pre-tax profit of RM11.5mil on RM81.16mil in revenue in the previous corresponding period. 

MIDF said the higher six-month results was mainly due to the consolidation of Amanah Capital Partners (ACP) group's six months' results into MIDF's group accounts. 

The ACP group contributed pre-tax profit of RM66.5mil for the six months ended Sept 30.  

·COMPUTER SYSTEMS ADVISERS (M) BHD (CSA) has posted pre-tax profit of RM4.8mil on revenue of RM115.4mil for the six months ended Sept 30 compared with pre-tax profit of RM9mil on revenue of RM143.4mil in the corresponding period of 2002. 

Its earnings per share was lower at 2.98 sen from 6.1 sen a year ago. 

For its second quarter ended Sept 30, CSA posted pre-tax profit of RM2.4mil on revenue of RM62.04mil compared with pre-tax profit of RM5mil on revenue of RM77.02mil in the previous corresponding quarter.  

Its earnings per share for the quarter was at 1.54 sen compared with 3.28 sen previously. 

·UAC BHD reported a higher pre-tax profit of RM34.861mil for the three months ended Sept 30 from RM34.359mil in the previous corresponding period. 

Turnover was lower at RM140.28mil from RM151.75mil in the previous corresponding period. – Bernama 

·Khind Holdings Bhd'S pre-tax profit for the first nine months ended Sept 30 has jumped by 26% to RM2.6mil compared to RM2.1mil in the same period a year ago. 

However, the second board listed electrical home appliances maker's revenue dropped by 10% to RM101.9mil from RM113.7mil. – Bernama 

·INTAN UTILITIES BHD said the KLSE has given it an extension to May 16, 2004, from its earlier deadline of Nov 17, to comply with the public shareholding spread requirement. 

Intan said in a statement that its public float as of Oct 6 stood at 27.31%, held by 684 public shareholders, which fell short of the minimum requirement of 1,000 shareholders. 

The company said it had announced several corporate proposals earlier this year, including the acquisition of a new core business, a bonus issue and a non-renounceable restricted offer for sale, and was awaiting approval. – AFX 

·TRENERGY (M) Bhd posted a net profit of RM8.2mil, or 11.28 sen per share, for its third quarter ended Sept 30, compared with a net loss of RM962,000, or a loss of 1.34 sen per share, in the previous corresponding period. 

Revenue rose to RM86.3mil from RM84.5mil, while pre-tax profit improved to RM12mil from RM4.5mil previously. 

The group’s pre-tax profit for the 9-month period to end-Sept was RM34.5mil versus RM23.6mil in the corresponding period of the previous year. Earnings improved on account of a substantial reduction in depreciation and amortisation of about 32% together with lower interest expense and finance cost. 

·ASIA LIFE (M) BHD will offer a medical insurance with a no claim discount following the launch of its Asia Health Partner Plus plans this month. 

Chief executive officer Tan Beng Wah told a press conference in Kuala Lumpur yesterday the policy-holder would save up to 30% on the annual premium with every renewal if no claims were made the previous year. 

Chan expects new premium of RM70mil this financial year. 

He said that education products remained the main contributor with around 30% to 32% of new annual premiums. – Bernama 

·Digital e-commerce solutions provider EBWORX BHD said it has secured a RM1.22mil contract to implement a digital retail Internet banking system for Hong Kong's CITIC Ka Wah Bank Ltd. 

In a statement, eBworx said it would be teaming up with Hong Kong's BEA Systems HK Ltd to implement the project, with the latter taking responsibility for overall management. 

The project was expected to be completed within seven months, it said. – AFX  

·SCB DEVELOPMENTS BHD is planning a one-for-four rights issue of 44.09 million shares at an indicative price of RM4.75 each to raise RM210mil cash to finance its property development activities. 

In a statement, the company said it is also proposing a one-for-four bonus issue of 55.11 million shares after the rights issue. 

The proposed bonus will be effected by capitalising 55.108 million new bonus shares from the share premium balance available in the company, it said, adding that its share premium account stood at RM126.35mil as of Dec 31, 2002. 

On completion of the exercise, the company's paid-up capital will rise to RM275.54mil from RM176.35mil presently. – AFX 

·MK Land Holdings Bhd registered a net profit of RM34.7mil, or earnings of 2.95 sen per share, for the first quarter ended Sept 30, 2003 compared with RM31.6mil, or 2.69 sen per share, in the previous corresponding quarter. Revenue rose to RM188.4mil from RM186.5mil. 

·Uchi Technologies Bhd reported a higher pre-tax profit of RM16.7mil for its third quarter ended Sept 30 from RM16.3mil in the previous corresponding period.  

Revenue, however, dropped to RM30.7mil from RM32.6mil previously. Net profit rose to RM16mil against RM14.4mil a year earlier. 

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