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Bursa highlights on Feb 19
Petronas Dagangan Bhd posted 57.5% higher earnings of RM788.97mil for the financial year ended Dec 31, 2015, due to better margin contributions from bothy the retail and commercial segments. This was despite a 22.2% drop in revenue to RM25.17bil mainly due to a 19% decrease in average selling price and 4% fall in sales volume. Read more
IOI Corp Bhd’s quarterly results continued to be affected by foreign exchange (forex) fluctuations. The plantation giant’s earnings in the second quarter (Q2) ended Dec 31, 2015, surged 2,700% to RM724.8mil thanks mainly to a foreign translation currency gain of RM227.3mil versus a translation loss of RM273.6mil a year earlier. This was a reversal from the first quarter, when IOI incurred a RM719mil loss due largely to a fair value loss of RM451.1mil. Read more
Boustead Plantations Bhd (BPB) registered a profit after tax of RM72.3mil for the financial year ended Dec 31, 2015, a 38% increase from RM52.4mil in 2014, thanks mainly to gains on disposal of non-core land bank amounting to RM57.1mil. For the fourth quarter, it incurred a loss of RM975,000. In every region (Peninsular Malaysia, Sabah and Sarawak), the Q4 segment profit was lower or swung to a loss. Read more
Independent power producer Malakoff Corp Bhd’s earnings for the fourth quarter ended Dec 31, 2015, fell 5% to RM107.02mil, but for the full year, its earnings 32.7% to RM453.23mil. The improved bottom line was mainly due to higher contribution from its Tanjung Bin power plant in Johor, lower finance cost and higher interest income. The better contribution was offset by higher share of losses from its associate, Kapar Energy Ventures, and compressor rotor rectification works in Prai Power Plant. Read more
Tropicana Corp Bhd achieved total development sales of RM1.55bil for fiscal year 2015, exceeding the previous year’s total sales of RM1.49bil. However, profit attributable to shareholders fell by a third to RM223.3mil. The decrease was due mainly to the higher recognitions across key projects and gain from land sales in the preceding year. Revenue from land sales was RM476mil in 2014 versus RM107mil last year. Read more
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