Stocks which could be in focus following fresh corporate developments on Friday, April 22 include JERNEH ASIA BHD [], TENAGA NASIONAL BHD [] (TNB), British American Tobacco (Malaysia) Bhd, STAR PUBLICATIONS (M) BHD [] and VISDYNAMICS HOLDINGS BHD [].
The Edge FinancialDaily reports that after hiving off its core insurance business in Malaysia, the cash-rich Jerneh Asia has now set its sights on acquiring Sabah-based property developer Sagajuta (Sabah) Sdn Bhd, whose flagship project is the massive 1Borneo mixed development in Kota Kinabalu.
TNB’s earnings fell 36.9% to RM630.30 million in the second quarter ended Feb 28, 2011 from RM1 billion a year ago as it was impacted by higher coal prices.
Forecasting a challenging year ahead, TNB said its revenue was a marginal 1.5% higher at RM7.503 billion from RM7.389 billion a year ago.
Its earnings per share were 14.2 sen compared with 23.05 sen while it declared a lower dividend of 4.5 sen per share.
British American Tobacco’s net profit for the first quarter ended March 31, 2011 fell 6.95% to RM178.56 million from RM191.89 million a year earlier, on the back of lower volumes and a decline in profit from operations.
Revenue for the quarter declined to RM992.15 million from RM1.02 billion in 2010. Earnings per share was 62.50 sen while net assets per share was RM1.72. BAT declared a first interim dividend of 60 sen per share, tax exempt under the single-tier tax system amounting to RM171.32 million for the financial year ending Dec 31, 2011.
RAM Rating Services Bhd is cautious about Star Publications’ new new investments may pose new risks to the group.
The ratings agency said in the near term, the group “may invest some RM60 million in new media assets”, that is television channels, radio stations, online media and event organising.
“The group is expected to incur losses from some of these investments during their respective gestation periods given that they are fairly new businesses.
“In addition, Star lacks experience in the TV segment, which is viewed to be more competitive than its mainstay newspaper business,” it said.
Shares of VisDynamics fell sharply on Thursday despite its chairman’s positive view of a strong and satisfactory financial performance in 2011.
Chairman Datuk Azzat Kamaludin said the semiconductor equipment solution provider is poised to ride on the momentum of growth that the semiconductor industry is expected to sustain this year after recording the strongest rebound in 2010 following the worst ever year of 2009.
The Edge FinancialDaily reports that after hiving off its core insurance business in Malaysia, the cash-rich Jerneh Asia has now set its sights on acquiring Sabah-based property developer Sagajuta (Sabah) Sdn Bhd, whose flagship project is the massive 1Borneo mixed development in Kota Kinabalu.
TNB’s earnings fell 36.9% to RM630.30 million in the second quarter ended Feb 28, 2011 from RM1 billion a year ago as it was impacted by higher coal prices.
Forecasting a challenging year ahead, TNB said its revenue was a marginal 1.5% higher at RM7.503 billion from RM7.389 billion a year ago.
Its earnings per share were 14.2 sen compared with 23.05 sen while it declared a lower dividend of 4.5 sen per share.
British American Tobacco’s net profit for the first quarter ended March 31, 2011 fell 6.95% to RM178.56 million from RM191.89 million a year earlier, on the back of lower volumes and a decline in profit from operations.
Revenue for the quarter declined to RM992.15 million from RM1.02 billion in 2010. Earnings per share was 62.50 sen while net assets per share was RM1.72. BAT declared a first interim dividend of 60 sen per share, tax exempt under the single-tier tax system amounting to RM171.32 million for the financial year ending Dec 31, 2011.
RAM Rating Services Bhd is cautious about Star Publications’ new new investments may pose new risks to the group.
The ratings agency said in the near term, the group “may invest some RM60 million in new media assets”, that is television channels, radio stations, online media and event organising.
“The group is expected to incur losses from some of these investments during their respective gestation periods given that they are fairly new businesses.
“In addition, Star lacks experience in the TV segment, which is viewed to be more competitive than its mainstay newspaper business,” it said.
Shares of VisDynamics fell sharply on Thursday despite its chairman’s positive view of a strong and satisfactory financial performance in 2011.
Chairman Datuk Azzat Kamaludin said the semiconductor equipment solution provider is poised to ride on the momentum of growth that the semiconductor industry is expected to sustain this year after recording the strongest rebound in 2010 following the worst ever year of 2009.
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