Feb 28th - Stocks To Watch Genting, GenM, TM, DRB-Hicom, Maybank, IHH, MKH, Boustead, Sunway, MMC

by **Cals** Fri 28 Feb 2014, 01:34

Stocks To Watch Genting, GenM, TM, DRB-Hicom, Maybank, IHH, MKH, Boustead, Sunway, MMC

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Thursday, 27 February 2014 20:40

KUALA LUMPUR (Feb 27): Based on corporate results released today, some of the companies that could be in focus tomorrow include the following:
Genting Berhad posted a net profit of RM483.83 million for the fourth quarter to end-December 2013, a drastic plunge from RM2.48 billion netted in the fourth quarter of 2012.

In the fourth quarter, group revenue was RM4.40 billion compared with RM4.24 billion in the previous year’s corresponding quarter (4Q12), an increase of 4%.

For the full year of 2013, total profits also fell to RM1.81 billion, from RM3.98 billion in 2012.

Revenue, however, rose to RM17.11 billion, from RM16.46 billion.

Genting said the lower final quarter profit was mainly attributable to lower EBITDA and lower gain on disposal of available-for-sale financial assets.

It noted that profit of RM1,941 million in 4Q12 related to the disposal of the Kuala Langat power plant was completed on 22 October 2012.

Genting Malaysia Berhad said it posted a net profit of RM400.5 million for the fourth quarter to end-December 2013 (4Q13), down from RM445.7 million in similar quarter a year ago.

Revenue achieved was RM2,120 million in 4Q13, compared to RM1,926 million in the preceding year (4Q12).

Net profit for the full year was higher at RM1.60 billion, up from RM1.40 billion. Revenue increased to RM8.33 billion, from RM7.89 billion.

Telekom Malaysia Bhd’s net profit fell 5% to RM344.2 million in the fourth quarter ended Dec 31, 2013, from RM363.2 million in similar quarter of 2012.

But revenue rose 6% y-o-y to RM2.98 billion from RM2.81 billion.

The telecommunications giant said it had declared a final dividend of 16.3 sen per share.

For the full-year period, net profit stood at RM1.01 billion versus RM1.26 billion in the previous year, while revenue recorded was RM10.63 billion versus RM9.99 billion a year ago.

Telekom said for the year under review, net profit decreased primarily due to foreign exchange loss of RM105.2 million in the current financial year compared with a gain of RM73.4 million last year.

The group said another contributing factor was the lower deferred tax income on unutilised tax incentives.

DRB-Hicom Bhd’s net profit plunged 64% year-on-year (y-o-y) to RM141.6 million in the third quarter ended Dec 31, 2013, from RM391.5 million.

But revenue jumped 20% y-o-y to RM3.33 billion from RM2.78 billion.

In a filing to the stock exchange, the group said it declared a single-tier dividend of 1.50 sen per share.

For the nine-month period, net profit was RM289.9 million versus RM504.7 million in the previous period, while revenue generated was RM10.03 billion from RM9.77 billion a year ago.

Malayan Banking Bhd (Maybank) reported an 18.6% rise in fourth quarter net profit from a year earlier on higher Islamic banking and non-interest income. Lower allowance for bad loans also supported profit growth.

Maybank said net profit rose to RM1.73 billion in the fourth quarter ended December 31, 2013 (4QFY13) from RM1.46 billion. Revenue climbed to RM8.27 billion from RM7.8 billion.

Maybank's full-year net profit increased to RM6.55 billion from RM5.75 billion a year earlier. Revenue was higher at RM33.25 billion versus RM31.23 billion.

Maybank plans to pay a dividend of 31 sen a share for 4QFY13.

IHH Healthcare Bhd’s net profit soared 47% to RM230.1 million in the fourth quarter ended Dec 31, 2013, from RM156.5 million in the fourth quarter of 2012.

Revenue also rose 16.5% y-o-y to RM1.78 billion from RM1.53 billion.

The healthcare service provider said it recommended a first and final single-tier cash dividend of 2 sen for the financial year ended Dec 31, 2013.

IHH said the strong net profit growth was due to three factors: double-digit EBITDA growth, recapitalisation of Turkish healthcare institution, Acibadem Healthcare Group in Q4 2012, and recognition of investment tax allowances of RM22.9 million in Q4 2013.

For the full-year period, net profit dropped to RM631.2 million versus RM750.8 million in the previous year, while revenue raked-in dipped to RM6.76 billion from RM6.96 billion a year ago.

MKH Bhd’s net profit for the first financial quarter ended 31/12/2013 fell over 50% to RM16.8 million, from RM 34.2 million in similar quarter the previous year.

Revenue for the quarter rose to RM182.5 million from RM147.8 million a year ago.

The group had attributed its lower profits to unrealised foreign exchange losses caused by the weakening of local and foreign currencies.

On prospects, the property group says it expects to achieve satisfactory results for the financial year ending 30 September 2014 with contributions from its property, construction and plantation divisions.

Boustead Holdings Berhad delivered strong results for the financial year ended 31 December 2013, with a higher profit after tax (PAT) of RM560 million, up 12% compared with RM499 million in the previous financial year.

This was achieved on the back of a turnover of RM11.2 billion compared with the previous year’s RM9.8 billion.

For its fourth quarter ended 31 December 2013, the group registered a PAT of RM228 million. This represents a 50% increase from RM152 million in the previous year’s corresponding quarter.

PBT for the quarter under review jumped substantially by 78% to RM281 million while revenue improved to RM3.6 billion.

The company announced a dividend of 7.5 sen per share for the financial year.

Sunway Bhd posted a net profit of RM1.14 billion for the fourth quarter results to December 2013, up by 677% compared to RM146.56 million in the fourth quarter of 2012.

Revenue recorded was RM1.34 billion, compared to revenue of RM1.24 billion in the corresponding quarter in the previous financial year.

Sunway declared an interim dividend of 5 sen per share, bringing total dividends for FY2013 to 10 sen.

For the full year of 2013, the company reported net profit of RM1.50 billion from RM438.83 million in the previous financial year. Annual revenue was RM4.73 billion compared to RM4.13 billion recorded in 2012.

MMC Corporation Bhd posted much lower profits for its fourth quarter and full year of 2013 due mainly to the deconsolidation of Gas Malaysia post listing, and lower contribution from Malakoff.

It reported a net profit of RM40.96 million for its fourth financial quarter to December 2013, which was 49% lower than RM80.04 million posted in the fourth quarter of 2012.

Similarly, revenue for the quarter also fell to RM1.85 billion from RM2.06 billion.

For the full year of 2013, total profits plunged 75% to RM228.66 million from RM922.35 million a year ago. Revenue also fell 19% to RM7.45 billion from RM9.20 billion.