FBMKLCI 1489.87 DJ-37.28 CRUDE OIL 97.39  RM 3.02

Sime Darby Bhd’s earnings surged 104.8% to RM877.06 million in the second quarter ended Dec 31, 2010 from RM428.19 million a year ago, boosted by most of its divisions while for the year ahead. Sime said its revenue rose 21.9% to RM10.28 billion from RM8.43 billion and planned to boost its property division by launching property projects with gross development value of RM1.6 billion.

AirAsia Bhd, which posted a record profit for the financial year ended Dec 31, 2010 is not looking at imposing fuel surcharge despite surging crude oil prices. For the financial year ended Dec 31, 2010, its net profit jumped 110% to RM1.066 billion from RM506.26 million in FY09. Revenue rose 25% to RM3.992 billion from RM3.178 billion. In the fourth quarter ended Dec 31, 2010, its earnings surged 835% to RM316.55 million from RM33.87 million a year ago while it was upbeat about its operations based on the current forward booking trend.

Tanjung Offshore Bhd received contract extensions from Petronas Carigali Sdn Bhd to provide offshore support vessels (OSVs) for total charter contract of RM33.5 million. The contract extensions for the three units of OSVs were for a period of one year, effective March 2011 (one OSV) and July 2011 (two OSVs) respectively.

Land & General Bhd recorded a net profit of RM7.39 million for its third quarter ended Dec 31, 2010 (3Q 2010), up from the RM5.38 million posted a year ago. It generated a revenue of RM14.08 million for 3Q 2010, compared to RM9.74 million posted a year ago.

Nestle (Malaysia) Bhd’s net profit fell 54.5% to RM39.26 million in the fourth quarter ended Dec 31, 2010 from RM86.22 million a year ago, as its profit margin was squeezed mainly by higher investments in brand building, overhead expenses and increase in commodity costs. Its revenue for the quarter rose to RM963.89 million from RM950.63 million. Earnings per share were 16.74 sen while net assets per share was RM2.62.

FBMKLCI 1511.11 DJ- 107.01 CRUDE OIL 98.90 RM 3.02

It may not be the time for bargain hunting yet as there is more downside to the local stock market due to negative external factors. Investors appeared to be staying at the sidelines yesterday with only 1.7 billion shares being traded compared to the average daily volume of more than 2 billion at the start of the year. The local benchmark FTSE Bursa Malaysia KLCI had yesterday shed more than 10 points in intra-day trading before finishing at 1,511.11, 2.52 points or 0.17% lower, dragged down mostly by plantation stocks affected by lower crude palm oil prices.

PLUS Expressway Bhd, the country's biggest toll road operator, obtained its shareholders' approval yesterday for the RM23 billion takeover bid by its major shareholders UEM Group Bhd and the Employees Provident Fund (EPF), despite over 100 minority shareholders claiming the EGM was "illegal" and walking out halfway.

Telecommunications service provider Axiata Group Bhd posted a net loss of RM367mil for the fourth quarter (Q4) ended Dec 31, 2010, due to impairment loss on its investment in an India-based associate. This compared with a net profit of RM558mil for the corresponding period last year.

Multi-Purpose Holdings Bhd (MPHB), which has businesses from gaming to stockbroking, recorded improved results in the continuing operations of the company despite the lower net profit for the fourth quarter ended Dec 31, 2010.

Plantation firm TSH Resources Bhd’s net profit for the fourth quarter ended Dec 31, 2010, surged 115.98% to RM44.22mil compared with the previous corresponding quarter mainly due to higher contributions from Indonesian operations.

Star Publications (M) Bhd’s net profit for the financial year ended Dec 31, 2010 (FY10) rose 27.80% to RM184.94mil on revenue that gained 9.01% to RM1.06bil.

Hong Leong Bank Bhd’s (HLB) net profit for the second quarter ended Dec 31, 2010 rose to RM291.43mil from RM224.75mil a year ago while revenue increased to RM603.96mil from RM519.40mil previously.

Transmile Group Bhd faces suspension and delisting from March 3 and March 7 respectively for failing to submit a regularisation plan to the Securities Commission or Bursa Malaysia for approval by Feb 22.

PETRA ENERGY BHD [] is likely to post losses for the fourth quarter of 2010 even with crude oil prices around US$100 again.

Genting Bhd’s net profit surged 89.6% to RM465.43 million in the fourth quarter ended Dec 31, 2010 from RM245.4 million a year ago. Revenue rose 76% to RM4.086 billion from RM2.320 billion. Earnings per share were 12.57 sen compared with 6.64 sen while it proposed a final dividend of 4.5 sen. It said the higher revenue was mainly from the leisure and hospitality division with the commencement of operations of Resorts World Sentosa in Singapore, during the first quarter of 2010. As for FY10, its earnings rose 110.9% to RM2.202 billion from RM1.044 billion while revenue surged 71% to RM15.194 billion from RM8.893

billion. Group revenue rose by 71% to record a new high of RM15.19 billion in FY2010 (FY2009: RM8.89 billion), while group profit before tax rose by 74% to post a new high of RM4.39 billion in FY2010 (FY2009: RM2.53 billion).

IJM Corp’s earnings rose 58% to RM132.19m in the third quarter ended Dec 31, 2010 from RM83.64 million a year ago, boosted by its property and PLANTATION []s sector. Revenue dipped 3.7% to RM901.34 million from RM936.31 million. Earnings per share were 9.78 sen compared with 6.32 sen. IJM said the lower revenue was mainly due to mainly to the CONSTRUCTION [] and property divisions.

Kossan’s net profit for the fourth quarter ended Dec 31, 2010 rose 21.4% to RM29.45 million from RM24.25 million a year ago, driven by the expansion in the company’s gloves division with better product mix and margin. Revenue rose 11% to RM252.97 million from RM227.75 million. Earnings per share were 9.18 sen while net assets per share was RM1.40. For the financial year ended Dec 31, 2010, Kossan’s net profit recorded an increase of 76.1% to RM118.59 million from RM67.33 million a year ago. Revenue rose 24.6% to RM1.05 billion from RM842.14 million.

Tan Chong’s net profit for the fourth quarter ended Dec 31, 2010 rose 21.8% to RM52.07 million from RM42.73 million a year earlier, boosted by across the board price discounting to clear 2010 inventories ahead of new model introductions in 2011. Revenue for the quarter rose 16% to RM835.36 million from RM720.19 million a year ago. Earnings per share were 7.98 sen, while net assets per share was RM2.57.

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.

FBMKLCI 1519.13 DJ+73.11 CRUDE OIL 91.50 RM 3.074

Johor Corp will sell a parcel of land it owns in Johor as part payment for the RM3.6bil debt that is due in July 2012, says president and chief executive officer Kamaruzzaman Abu Kassim. He also said the land had a market value of more than RM2bil.

Kencana Petroleum Bhd hopes to start recouping its portion of investment, estimated at US$200mil, in the Berantai marginal oil field development within two years, says chief executive officer Datuk Mokhzani Mahathir. Kencana is part of a consortium, which includes SapuraCrest Petroleum Bhd and Petrofac Energy Developments Sdn Bhd to develop and operate an oil and gas field in Berantai, Terengganu estimated to cost a total of US$800mil.

Khazanah Nasional Bhd said yesterday that all bidders for its 32.21% stake in Pos Malaysia Bhd will be given an equal opportunity and that its divestment will undergo “a fair and transparent process”.The bidders will be considered based on their strategy and business plan, followed by the offer price. The name of the shortlisted bidders will be revealed to the panel after the shortlisting process is completed. These shortlisted bidders will then be invited to submit their revised strategy and business plan as well as their final offer.”

For the nine months ended Dec 31, AMMB’s net profit rose 34% to RM1.03 billion from RM766.87 million, on the back of revenue RM5.3 billion, up from RM4.87 billion a year earlier.

Tasek’s earnings in the fourth  quarter surged 325% to RM69.1 million from RM16.25 million. The much improved group results apart from the RM43.6 million gain from disposal of PLANTATION [] and other

property, was mainly in line with the increase in group's total revenue compounded by better local cement sales margin. Tasek said revenue rose 15% to RM133.67 million from RM116.08 million. Earnings per share were 43.3 sen compared with 8.77 sen. It proposed a bumper dividend, comprising of preference dividend of 6%, ordinary dividend 30% and special dividend 50%.

Mudajaya’s net profit for the fourth quarter ended Dec 31, 2010 rose 39% to RM57.09 million from RM41.05 million a year earlier, driven by the increased level of activities. Revenue rose to RM230.29 million from RM211.76 million a year ago. Earnings per share were 13.96 sen while net assets per share rose to RM1.75 from RM1. Mudajaya proposed a final dividend of 3.0 sen per ordinary share of 20 sen each under the single tier system for FY10. For the 12 months in 2010, Mudajaya’s net profit surged 75% to RM208.45 million from RM119.18 million a year ago, on the back of revenue RM869.43 million.

Hap Seng Consolidated’s net profit for the fourth quarter ended Dec 31, 2010 surged to RM103.13 million from RM7.69 million a year earlier, driven by improvement in revenue in all divisions except for fertilisers trading which was affected by lower average selling prices. Revenue rose 19.3% to RM810.88 million from RM679.6 million. Earnings per share were 18.30 sen while net assets per share was RM4.59. For the financial year ended Dec 31, 2010, Hap Seng’s net profit rose 222% to RM323.16 million from RM100.24 million a year ago. Hap Seng proposed to pay out as final dividend about 50% of its net profit tax and minority interest totalalling RM123.98 million or 22 sen per share.

RAMUNIA HOLDINGS BHD is eyeing some RM300 million worth of fabrication jobs this year as projects up for grabs start pouring into the market again, underpinned by the surge in crude oil prices. Chief executive officer Nor Badli Munawir Mohamad said on Friday that while Ramunia's existing order book was negligible, he expected it to grow this year after Petroliam Nasional Bhd  committed to opening more marginal oilfields and issue more oil and gas contracts this year.