Nov 26th - Stocks To Watch UEM, PPB, Parkson, United Plant, Padini, Ta Ann, Patimas, Octagon, G.Packet, KPS

by **Cals** Tue 26 Nov 2013, 05:08

Stocks To Watch UEM, PPB, Parkson, United Plant, Padini, Ta Ann, Patimas, Octagon, G.Packet, KPS

Business & Markets 2013

Written by Chong Jin Hun of theedgemalaysia.com

Monday, 25 November 2013 19:39

KUALA LUMPUR (Nov 25): Based on exchange filings and news flow today, stocks to watch tomorrow (Nov 26) may include the following companies:

UEM Sunrise Bhd’s net profit soared 114% year-on-year (y-o-y) to RM183 million in the third quarter ended Sept 30, 2013, from RM85 million a year ago.

Revenue also jumped 60% y-o-y to RM694 million from RM433 million.

The property developer said for the nine-month period profit stood at RM501 million compared to RM247 million a year earlier, while revenue collected was RM1.895 billion versus RM1.248 billion in the previous corresponding period.

UEM Sunrise said the higher profit for the quarter and nine-month period was in line with higher revenue recorded.

It said the group recorded higher revenue in the first and third quarters following the completion of Puteri Harbour land sale.

PPB Group Bhd said net profit rose 15% to RM286.06 million in the third quarter ended September 30, 2013 (3QFY13) from RM249.24 million a year earlier. Revenue climbed to RM830.4 million from RM779.87 million.

The plantation group's cumulative nine-month net profit rose to RM713.53 million from RM536.16 million a year earlier. Revenue was higher at RM2.41 billion versus RM2.24 billion.

Parkson Holdings Bhd’s profit slumped by 48% year on year for the first quarter (1QFY14) due to weak consumer sentiment.

The retail group reported a profit of RM30.73 million for 1QFY14 from RM59.0 million a year ago. Its revenue stood at RM831.3 million, slightly higher compared to RM824.1 million a year ago.

Parkson said Malaysia and Vietnam reported slower growth due to policy changes and weaker economy, China had marginally higher growth while Indonesia had robust operations.

Looking forward, the group expects to improve its performance in the coming quarter due to better consumer sentiment during the year-end festivities and holiday seasons as well as the re-opening of the newly renovated stores.

United Plantations Bhd reported that net profit fell 61% to RM39.04 million in the third quarter ended September 30, 2013 from RM100.32 million a year earlier. Revenue declined to RM212.35 million from RM308.4 million.

Cumulative nine-month net profit dropped to RM160.76 million from RM250.03 million a year earlier. Revenue was lower at RM669.88 million from RM879.13 million.

The firm plans to pay total dividends of 30.12 sen a share for the quarter in review. These comprise an interim dividend of 18.75 sen, and a special payout of 11.37 sen.

Padini Holdings Bhd said net profit rose 10% to RM27.74 million in the first quarter ended September 30, 2013 from RM25.31 million a year earlier. Revenue climbed to RM217.22 million from RM201.06 million.

Padini, a garment manufacturer, plans to pay total dividends of four sen a share for the quater in review.

These comprise an interim dividend of 2.5 sen and a special payout of 1.5 sen.

Ta Ann Holdings Bhd's net profit climbed 9% to RM33.26 million in the third quarter ended September 30, 2013 from RM30.46 million a year earlier. Revenue however fell to RM216.81 million from RM234.85 million.

The timber firm's cumulative nine-month net profit rose to RM61.49 million from RM55.22 million a year earlier. Revenue was lower at RM567.02 million from RM587.41 million.

Ta Ann plans to pay an interim dividend of five sen a share.

Practice Note 17 entities Patimas Computers Bhd, and industrial paint manufacturer Octagon Consolidated Bhd may be closely watched.

Patimas and Octagon said earlier their shares will be de-listed unless an appeal against the de-listing is submitted to Bursa Malaysia on or before tomorrow (November 26). Patimas and Octagon had sumbitted their appeals last Friday.

Today (25 November), Octagon has proposed to undertake several exercises. These include a planned par value reduction, rights issue with warrants, and debt settlement programme.

Bursa Malaysia had earlier warned that it will suspend trading of both firms' shares on 27 November before delisting them on Friday (29 November).

Green Packet Bhd’s net loss narrowed down to RM14 million in the third quarter ended Sept 30, 2013, from a loss of RM18 million a year ago.

The third quarter loss was also smaller than loss of RM20 million in the second quarter this year.

Green Packet’s revenue fell to RM142 million from RM160 million.
In a statement to Bursa Malaysia, the integrated mobile broadband player said the loss was due to higher finance costs.

KPS Consortium Bhd's net profit declined 59% to RM1.37 million in the third quarter ended September 30, 2013 from RM3.35 million a year earlier.

In a statement to the exchange, KPS which manufacturers paper products, said revenue fell to RM121.34 million from RM133.43 million. The firm also distributes building materials.

KPS said cumulative nine-month net profit rose to RM9.06 million from RM8.61 million a year earlier. Revenue was higher at RM369.18 million compared to RM330.32 million.