FBMKLCI 1518.77 DJ no market CRUDE OIL 97.37 RM 3.00

Asian markets experienced choppy trade yesterday as conflict in the Middle East affected investor sentiment with oil prices rising and gold surging to a seven-week high. Crude oil climbed US$1.94 to US$88.14 per barrel at 5pm with spot gold surging US$8.80 to US$1,398.32 per ounce.

 

Malayan Banking Bhd (Maybank) posted a net profit of RM1.13bil, or 15.72 sen per share, for its second quarter ended Dec 31, 13.7% higher than the RM993.5mil, or 14.04 sen per share, reported in the same quarter of 2009 after almost all segments performed better and bad loan provisions were lower.

TH Plantations’ fourth quarter earnings rose 88.7% to RM42.55 million from RM22.54 million a year ago mainly due to higher prices for crude palm oil and palm kernel when compared to a year ago. It said on Monday, Feb 21 its revenue rose 47% to RM128.53 million from RM87.35 million. Earnings per shares were 8.71 sen compared with 4.62 sen a year ago. It proposed dividend payout of 12.5 sen per share. It had cash of RM130.56 million as at Dec 31, 2010.

UNITED PLANTATIONS BHD []’s net profit for the fourth quarter ended Dec 31, 2010 rose 19.9% to RM81.88 million from RM68.29 million a year earlier, due to higher crude palm oil (CPO) palm kernel (PK) selling prices. Its revenue rose 53% to RM302.83 million from RM197.88 million in 2009. Earnings per share were 39.24 sen while net assets per share was RM8.51. The company has proposed a final dividend of 15 sen net per share and a special dividend of 26.25 sen net per share for the year ended Dec 31, 2010.

ALLIANCE FINANCIAL GROUP BHD [] said its net profit rose 11.22% to RM111.12 million in the third quarter ended Dec 31, 2010 from RM99.91 million a year ago, driven by higher net interest income and lower overheads. Revenue rose to RM284.98 million from RM278.27 million. Earnings per share were 7.30 sen while net assets per share was RM2.15.  AFG proposed dividend of 3.70 sen per share. For the nine months ended Dec 31, its net profit rose to RM324.2  million from RM224.17 million a year ago, on the back of revenue RM858.18 million.

Parkson Retail Group Ltd, the Beijing-based department-store chain controlled by Malaysia’s Lion Group, will accelerate its expansion in China in the next three years. The company will open 8 to 9 stores a year through 2013, after opening 5 last year, Managing Director Alfred Cheng told reporters in Hong Kong. The retailer said 2010 net income jumped 9 per cent to 992 million yuan (US$151 million), compared with the 1.07 billion yuan average of 13 analyst estimates compiled by Bloomberg.