May 8th - Stocks To Watch TAHPS, F&N, Maxis, High-5, Amway, Can-One/KianJoo/BoxPak, ECS, MHE, plantation

by **Cals** Wed 07 May 2014, 22:58

Stocks To Watch TAHPS, F&N, Maxis, High-5, Amway, Can-One/KianJoo/BoxPak, ECS, MHE, plantation

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Wednesday, 07 May 2014 20:14

KUALA LUMPUR (May 7): Based on corporate announcements and news flow today, companies that may attract interest tomorrow could include:

TAHPS Group Bhd has proposed a first and final dividend of 35 sen per ordinary share, tax exempt under the single-tier system, after it announced its full year financial results today.

For the full year to end-March 2014, the company posted a net profit of RM46.4 million, rising more than 200% over RM14.7 netted in the previous year.

For the fourth quarter to March 2014, the company posted a net profit of RM10.2 million, doubling the RM5.0 million earned in similar quarter of the previous financial year.

Fraser & Neave Holdings Bhd’s (F&N) net profit jumped 25.4% year-on-year (y-o-y) to RM68.1 million in the second quarter ended Mar 31, 2014, from RM54.3 million a year ago.

Revenue rose 8.1% y-o-y to RM935.4 million, from RM865.3 million.

F&N said it is recommending an interim single tier dividend of 22 sen per share amounting to RM80.4 million.

For the half-year period, net profit registered RM136.9 million versus RM111.1 million in the previous corresponding period, while revenue stood at RM1.88 billion from RM1.72 billion a year ago.

Maxis Bhd reported a net profit of RM484 million for its first quarter ended March 31, 2014, rising 1.9% from RM475.0 million in the previous corresponding quarter.

However, revenue for 1QFY14 fell to RM2.12 billion from RM2.33 billion in 1QFY13.

The group announced an interim single-tier tax-exempt dividend of 8 sen per share, with the entitlement date on May 5, 2014, payable on June 27, 2014.

High-5 Conglomerate Bhd announced that it had on May 6 received a notice of intention from its bank to repossess a production line unless the company settles arrears of instalment and interest totaling RM5.85 million within seven days.

But as the company had earlier obtained Restraining Orders, it does not expect this notice to have an immediate impact.

The company said it was served this notice in its capacity as the guarantor for a hire purchase facility granted by RHB Bank Berhad to the company’s wholly owned subsidiary, Standard Confectionary Sdn Bhd (SCSB).
It added the notice stated that RHB intends to retake possession of one unit of “New Semi Auto Equipment Line to Produce” after the expiration of seven days from the service of the notice “unless the arrears of instalment and interest totaling to RM5,853,834.92 as at 30.4.2014 is paid to RHB”.

Amway (Malaysia) Holdings Bhd’s net profit rose 10.7% year-on-year (y-o-y) to RM25.5 million in the first quarter ended Mar 31, 2014, from RM23.0 million.

Revenue rose 4.6% y-o-y to RM213.3 million from RM203.9 million.

Amway said it declared a first interim single tier dividend of 10 sen per share.

Can-One Bhd announced that Can-One, its controlling shareholder Yeoh Jin Hoe and five others were collectively served with a writ of summons today by Datuk See Teow Guan in relation to the takeover of Kian Joo Can Factory Bhd.

The matter has been fixed for case management on May 20, 2014.

“Can-One will be defending the above suit and is in the process of taking legal advice,” said Can-One in its filing with Bursa Malaysia.
See, representing himself and Kian Joo, is seeking a court declaration to state that the letter of offer dated Nov 26 last year from Aspire Insight to Kian Joo to acquire the entire business of Kian Joo is deemed a “related party transaction”.

The defendants named in the suit are Yeoh Jin Hoe, offerors Chee Khay Leong and Aspire Insight Sdn Bhd, Can-One, Can-One International, Kian Joo, Box-Pak (Malaysia) Bhd (listed unit of Kian Joo).

ECS ICT Berhad posted an 11.7% increase in revenue to RM357.7 million in its first quarter ended 31 March 2014 (1Q14), from RM320.3 million in similar quarter of 2013.

But ECS posted lower net profit of RM4.8 million in 1Q14, down 25% as compared to RM6.4 million of previous year corresponding quarter, largely due to lower profit contribution from Enterprise Systems and higher operating costs.

Basic earnings per share was at 2.7 sen for 1Q14, versus 3.5 sen in the same quarter of the previous year.

Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) posted a lower net profit of RM34.6 million for the first quarter of 2014, which was a plunge of 31.6% from RM50.6 million earned in similar quarter last year.

Revenue also fell 27.1% year-on-year to RM671.5 million, from RM921.8 million.

The company attributed its lower profit to lower profit from its offshore segment for the period.

On current year prospects, MHE said three major projects will be delivered during the year. In terms of operation, there are fewer on-going project in progress compared to previous financial year.

Plantation stocks may be affected by a Bloomberg survey released today.

Palm oil stockpiles in Malaysia probably advanced for a second month as output climbed to the highest level since December, reported Bloomberg.

Inventories increased 3 percent to 1.74 million metric tons in April from a month earlier, according to the median of six estimates from plantation companies, analysts and traders compiled by Bloomberg.

Production climbed 3.3 percent to 1.55 million tons, while exports rose 4 percent to 1.29 million tons, the survey showed.