Stocks to watch: Maybank, Genting Plantations, Ann Joo, Fajar Baru (ext: Edge)

At Bursa Malaysia, stocks to watch include MALAYAN BANKING BHD [ ] which suffered a net loss of RM1.118 billion in the fourth quarter ended June 30(4Q) compared with a net profit of RM792.21 million a year ago.

Maybank made an impairment charge of RM1.617 billion on goodwill arising from its 97.5%-owned PT Bank Internasional Indonesia Tbk (BII) banking business operations and an additional impairment loss of RM111 million for the investment in MCB Bank

For FY09, it was still profitable with net profit of RM691.87 million for its financial year ended June 30, 2009 from RM2.93 billion a year ago. Revenue was higher at RM17.58 billion compared with RM16.15 billion. Earnings per share were RM12 sen compared with 53.32 sen.

Genting PLANTATION [ ]s Bhd posted sharply lower net profit of RM59 million for the second quarter ended June 30 from RM115.08 million a year ago due to lower crude palm oil prices and lower fresh fruit bunches.

ANN JOO RESOURCES BHD [ ] posted very sharply lower net profit of RM2.22 million in the second quarter ended June 30 from RM180.51 million a year ago due to lower steel prices which resulted in a margin squeeze.

Fajarbaru Builder reported higher earnings for 4Q ended June 30 on the back of higher revenue contribution from its CONSTRUCTION [ ] activities.

Fajarbaru's net profit had risen 70% to RM6.1 million from RM3.59 million a year ago. Revenue rose 76.88% year-on-year to RM55.17 million in 4Q09 from RM31.19 million in 4Q08.