KUALA LUMPUR (Dec 17): Based on corporate announcements and news flow today, stocks in focus on Tuesday (Nov 18) may include WZ Satu Bhd, Destini Bhd, CIMB Group Holdings Bhd, Hai-O Enterprise Bhd, Top Glove Corp Bhd, Scomi Group Bhd, Tune Protect Group Bhd and Hiap Teck Venture Bhd.

WZ Satu Bhd’s wholly-owned unit WZS BinaRaya Sdn Bhd has bagged a RM133.5 million sub-contract job to construct bridges from Genuang to Paloh for the Gemas-Johor Baru electrified double track project.

The company accepted the letter of award from SIPP-YTL JV for the project, which commences today and is expected to be completed by May 17, 2020.

Destini Bhd has won a three-year contract for the provision of tubular handling, conductor installation and slot recovery equipment and services for Petronas Carigali Sdn Bhd, the exploration arm of Petroliam Nasional Bhd.

The company said the contract was awarded to its wholly-owned Destini Oil Services Sdn Bhd (DOS) under the Pan Malaysia Petroleum Arrangement Contractors (PAC) Operators’ Drilling Programme by Petronas Carigali.

Under the contract, DOS will be the primary contractor for the said services in shallow waters of East and West Malaysia, and for deep water tubular handling in East Malaysia.

CIMB Group Holdings Bhd has filed and served a notice of arbitration against PLUS Malaysia Bhd, claiming the latter had breached its obligations under a joint venture agreement in relation to Touch 'N Go Sdn Bhd, by launching its own toll collection system.

CIMB said PLUS breached its obligations under the 1998 JVA by commencing and launching its own PLUS Radio Frequency Identification (RFID) System. Under the JVA, CIMB has a 52% stake in Touch ‘N Go, while PLUS and MTD Equity Sdn Bhd hold 28% and 20% respectively.

“The company and CIMB SI 1 are seeking to invoke the arbitration agreement contained in the JVA in relation to disputes that have arisen with PLUS in connection with and/or under the JVA,” it said.

Hai-O Enterprise Bhd’s net profit for the second quarter ended Oct 31, 2018 (2QFY18) fell 37% to RM13.6 million, from RM21.44 million a year earlier, on lower sales from its multilevel marketing (MLM) segment.

This lowered earnings per share to 4.68 sen, from 7.40 sen previously. Quarterly revenue fell 25% to RM92.17 million, from RM123.53 million a year ago.

Nevertheless, the group declared an interim dividend of four sen per share, albeit lower than the six sen declared a year ago. The payment date will be announced later.

Lower quarterly earnings also brought the group’s first half net profit down, which fell 37% to RM24.60 million, compared with RM39.30 million reported in the previous year.

Revenue for the cumulative period dropped 31% to RM172.26 million, from RM248.07 million a year ago.

Top Glove Corp Bhd's net profit grew 4.4% to RM110.06 million in the first quarter ended Nov 30, 2018 (1QFY18), from RM105.45 million a year earlier, as sales jumped on strong demand growth in both developed and emerging markets.

Revenue rose 34.5% to a record high of RM1.26 billion, from RM938.12 million in the previous corresponding quarter.

Scomi Group Bhd confirmed today that the Mumbai Metropolitan Region Development Authority (MMRDA) has terminated the monorail contract awarded to Scomi and its Indian partner 10 years ago.

Scomi’s unit Scomi Engineering Bhd, and Larsen & Toubro Ltd (L&T), are the two members of a consortium that operates India’s first monorail network.

The consortium was awarded the contract for the design, development, construction, operation and maintenance of the 19.5km monorail network in the Mumbai Metropolitan Region in November 2008.

Scomi did not state the reason for the termination, but Indian media reports said it was because the consortium had failed to fulfill its contract obligations, despite getting several extensions.

Tune Protect Group Bhd’s group chief executive officer Razman Hafidz Abu Zarim, 63, will be retiring from his position on Dec 31, as he has decided not to seek a re-appointment upon expiry of his regulatory tenure with the group.

Razman joined the group as chairman in 2012 and was redesignated as group CEO on July 15, 2016. He is also an independent director at Hartalega Holdings Bhd.

Steel maker Hiap Teck Venture Bhd, which successfully turned its performance around in the financial year ended July 31, 2018 (FY18), is expecting stronger earnings in FY19, driven by its 35% stake in Eastern Steel Sdn Bhd (ESSB).

"The company's earnings for the past three years [were] dragged by ESSB. Today, we had resumed the operations of ESSB, as long as it started making profit, our earnings growth in 2018 and 2019 will be very strong," its executive director Foo Kok Siew said.

Foo assumed "the company earnings will be double or tripled" if the ESSB is able to break even in FY19.