After a volatile month in February, 2011 which saw about RM40 billion erased from the market capitalization, reducing it to RM1,256.7 billion, investors are hoping for a better month ahead.
While corporate results for the quarter ended Dec 31, 2010 were mostly within analysts’ expectations, there were a few surprises, mostly on the downside.
Stocks in focus on Tuesday, March 1 include Maxis Bhd, TANJUNG OFFSHORE BHD [], TIME DOTCOM BHD [], ALAM MARITIM RESOURCES BHD [], PETRA PERDANA BHD [] and POS MALAYSIA BHD [].
Maxis Bhd posted net profit of RM610 million in the fourth quarter ended Dec 31, 2010, up 21.2% from RM503 million a year ago, boosted by its non-voice segment.
Its revenue rose 4.4% to RM2.31 billion from RM2.21 billion while earnings per share were 8.10 sen compared with 6.70 sen. It proposed dividend of eight sen a share to be paid on March 30. The entitlement date for the dividend payment is March 15.
For the financial year ended Dec 31, 2010, it posted net profit of RM2.295 billion compared with RM1.578 billion in FY09. Maxis said its revenue for FY10 increased by 3% or RM258 million from RM8.611 billion to RM8.869 billion.
Tanjung Offshore Bhd posted net loss of RM116,000 in the fourth quarter ended Dec 31, 2010 compared with net profit of RM614,000 a year ago mainly due to the provision for impairment of trade receivables deemed difficult to be recovered and bad debt written off.
Its revenue was RM139.85 million versus RM136.25 million while loss per share was 0.04 sen compared with earnings per share of 0.25 sen.
When compared with the third quarter ended Sept 30, 2010, it said the group’s total revenue for the current quarter of RM139.86 million was higher than the RM137.25 million in 3Q.
Time dotCom posted consolidated profit before tax of RM26.2 million, down 16.5% from RM31.4 million a year ago mainly due to lower dividend income received in the current quarter from its available-for-sale financial asset. Excluding investment income, the group’s profit from operations was RM838,000 or 8.3% higher in 4Q than a year ago.
Its net profit rose 41% to RM44.37 from RM31.38 million a year ago, aided by deferred tax assets. Its revenue rose 13.7% to RM85.25 million from RM74.97 million while earnings per share were 1.75 sen.
Alam Maritim Resources swung into the red with net loss of RM49.62 million in the fourth quarter ended Dec 31, 2010 and also losses of RM8.24 million in FY10.
Revenue fell 56.6% to RM51.97 million from RM120.04 million a year ago while it posted net loss of RM49.62 million, a contrast from the net profit of RM36.41 million a year ago. It posted loss per share of 6.0 sen compared with earnings per share of 7.20 sen.
The losses in 4Q “was mainly due to higher other operating expenses as a result of provision for doubtful debts, lower contribution margin from underwater services and the offshore installation and CONSTRUCTION [] (OIC) segment and lower share of profit of jointly controlled entities”.
Pos Malaysia’s net profit fell 59% to RM6.08 million in the fourth quarter ended Dec 31, 2010 from RM14.93 million a year ago due provision for its investment in TRANSMILE GROUP BHD [] and one-off impairment provision for the capital expenditure.
Its revenue rose 23.4% to RM277.33 million from RM224.58 million while earnings per share were 1.13 sen compared with 2.78 sen.
Petra Perdana posted net loss of RM18.34 million in the fourth quarter ended Dec 31, 2010 from net profit of RM4.05 million a year ago due to the increase in lease rental and lower charter rates.
It said its revenue fell 36.6% to RM75.69 million from RM119.42 million a year ago. It recorded loss per share of 4.43 sen compared with 1.36 sen.
While corporate results for the quarter ended Dec 31, 2010 were mostly within analysts’ expectations, there were a few surprises, mostly on the downside.
Stocks in focus on Tuesday, March 1 include Maxis Bhd, TANJUNG OFFSHORE BHD [], TIME DOTCOM BHD [], ALAM MARITIM RESOURCES BHD [], PETRA PERDANA BHD [] and POS MALAYSIA BHD [].
Maxis Bhd posted net profit of RM610 million in the fourth quarter ended Dec 31, 2010, up 21.2% from RM503 million a year ago, boosted by its non-voice segment.
Its revenue rose 4.4% to RM2.31 billion from RM2.21 billion while earnings per share were 8.10 sen compared with 6.70 sen. It proposed dividend of eight sen a share to be paid on March 30. The entitlement date for the dividend payment is March 15.
For the financial year ended Dec 31, 2010, it posted net profit of RM2.295 billion compared with RM1.578 billion in FY09. Maxis said its revenue for FY10 increased by 3% or RM258 million from RM8.611 billion to RM8.869 billion.
Tanjung Offshore Bhd posted net loss of RM116,000 in the fourth quarter ended Dec 31, 2010 compared with net profit of RM614,000 a year ago mainly due to the provision for impairment of trade receivables deemed difficult to be recovered and bad debt written off.
Its revenue was RM139.85 million versus RM136.25 million while loss per share was 0.04 sen compared with earnings per share of 0.25 sen.
When compared with the third quarter ended Sept 30, 2010, it said the group’s total revenue for the current quarter of RM139.86 million was higher than the RM137.25 million in 3Q.
Time dotCom posted consolidated profit before tax of RM26.2 million, down 16.5% from RM31.4 million a year ago mainly due to lower dividend income received in the current quarter from its available-for-sale financial asset. Excluding investment income, the group’s profit from operations was RM838,000 or 8.3% higher in 4Q than a year ago.
Its net profit rose 41% to RM44.37 from RM31.38 million a year ago, aided by deferred tax assets. Its revenue rose 13.7% to RM85.25 million from RM74.97 million while earnings per share were 1.75 sen.
Alam Maritim Resources swung into the red with net loss of RM49.62 million in the fourth quarter ended Dec 31, 2010 and also losses of RM8.24 million in FY10.
Revenue fell 56.6% to RM51.97 million from RM120.04 million a year ago while it posted net loss of RM49.62 million, a contrast from the net profit of RM36.41 million a year ago. It posted loss per share of 6.0 sen compared with earnings per share of 7.20 sen.
The losses in 4Q “was mainly due to higher other operating expenses as a result of provision for doubtful debts, lower contribution margin from underwater services and the offshore installation and CONSTRUCTION [] (OIC) segment and lower share of profit of jointly controlled entities”.
Pos Malaysia’s net profit fell 59% to RM6.08 million in the fourth quarter ended Dec 31, 2010 from RM14.93 million a year ago due provision for its investment in TRANSMILE GROUP BHD [] and one-off impairment provision for the capital expenditure.
Its revenue rose 23.4% to RM277.33 million from RM224.58 million while earnings per share were 1.13 sen compared with 2.78 sen.
Petra Perdana posted net loss of RM18.34 million in the fourth quarter ended Dec 31, 2010 from net profit of RM4.05 million a year ago due to the increase in lease rental and lower charter rates.
It said its revenue fell 36.6% to RM75.69 million from RM119.42 million a year ago. It recorded loss per share of 4.43 sen compared with 1.36 sen.
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