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Bursa highlights on Feb 29
Felda Global Ventures Holdings Bhd’s (FGV) profit attributable to its owners more than doubled year-on-year for the fourth quarter (Q4), but the group still ended up with a 64% drop in earnings for the full year ended Dec 31, 2015 (FY15). The agri-business giant’s earnings grew 157.8% to RM101.38mil in Q4 FY15 from a year earlier. However, earnings for the 12-month period dipped 64% to RM117.12mil on 2.7% higher revenue of RM15.67bil. Read more
Malaysian Bulk Carriers Bhd (Maybulk) fell into a deeper loss attributable to equity holders of RM1.12bil for the fourth quarter ended Dec 31, 2015 from a loss of RM21.78mil a year earlier, dragging the company into its first-ever annual loss. The company, which operates the country’s largest fleet of international dry bulk shipping vessels, incurred RM1.18bil in loss for FY15 compared with earnings of RM12.15mil in the preceding year. Read more
Tenaga Nasional Bhd has signed a new power purchase agreement (PPA) with Powertek, a unit of 1Malaysia Development Bhd, for an extension of three years 10 months following a conditional letter of award by Energy Commission to Powertek in August 2015. Read more
Sona Petroleum Bhd has been able to reduce the proposed purchase price of Australia’s Stag Oilfield by half to US$25mil (RM103.2mil) instead of the US$50mil (RM206.5mil). Read more
Construction company Hock Seng Lee Bhd (HSL) and its partners have secured a RM280.90mil contract from Sarawak Energy Bhd to build a sub-station in Samalaju, Bintulu. HSL’s own scope of works includes earthworks, piling, civil infrastructure works, building and related mechanical and electrical works which were worth RM58.21mil. Read more
OSK Holdings Bhd’s net profit soared 57.5% to RM85.47mil in the fourth quarter ended Dec 31, 2015, from RM54.28mil in the corresponding quarter in the preceding year. This was achieved on negative goodwill arising from additional interests in RHB Capital Bhd, as well as contributions from newly acquired subsidiaries, OSK Property Holdings Bhd and PJ Development Holdings Bhd. Read more
Petroliam Nasional Bhd (Petronas) and its subsidiary Petronas Gas Bhd have sent a letter of demand for RM46.75mil to MClean Technologies Bhd’s subsidiaries for damage to Petronas Gas’ pipeline caused by effluent discharge and unlawful entry onto its land. Read more
KPJ Healthcare Bhd’s net profit tumbled 50.8% to RM24.58mil in the fourth quarter ended Dec 31, 2015, from RM49.94mil a year ago. The lower profit was due to additional provision for employee share option scheme and restricted issue to hospital consultants based on an independent valuation at financial year-end. Read more
Media planning and e-payment service provider PUC Founder (MSC) Bhd has appointed Lee Koh Yung as acting group chief executive officer following the demise of managing director Cheong Chia Chieh (Read more). Lee, 45, has been an executive director of Resource Holding Management Ltd, a substantial shareholder of PUC Founder via a 41.34% indirect interest, since September 2010. Lee is chairman of the Malaysia-China Chamber of Commerce and Industry.
Cahya Mata Sarawak Bhd’s earnings rose 9.1% to RM241.59mil for the financial year ended Dec 31, 2015 on 6.8% higher revenue of RM1.79bil. The RM34.08mil profit growth was largely thanks to the construction and road maintenance division, whose profit before tax increased 61%, or RM51.1mil, to RM135.29mil.
Property developer I-Bhd’s net profit rose 15% to RM15.71mil for the fourth quarter ended Dec 31, 2015, from RM13.67mil in the corresponding quarter in 2014 on higher revenue and lower expenses. Revenue increased 8.7% year-on-year to RM74.1mil from RM68.16mil previously, while its earnings per share (EPS) improved to 1.48 sen from 1.38 sen. Read more
E-government services provider My EG Services Bhd posted a 125.1% surge in earnings for the financial half-year year ended Dec 31 to RM58.81mil while revenue rose 116.1% to RM124.23mil. The better performance was mainly due to an increase in revenue contribution from JPJ related services, higher transaction volumes from the online renewal of foreign workers’ permits and insurance and foreign worker related services, and contribution from newly acquired subsidiary, Cardbiz Holding Sdn Bhd.
Tambun Indah Land Bhd’s net profit rose to RM30.3mil in the fourth quarter ended Dec 31, 2015 compared with RM25.9mil. The Penang property developer attributed the higher bottom-line to its enhanced margin from ongoing projects and RM6.7mil fair value gain on investments properties. Read more
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