KUALA LUMPUR (Feb 24): Based on corporate announcements and newsflow today, stocks on focus for Tuesday (Feb 25) are: Aeon Co (M) Bhd, Ann Joo Resources Bhd, Globetronics Technology Bhd, Guan Chong Bhd, Hap Seng Plantations Holdings Bhd, Lay Hong Bhd, Tiong Nam Logistics Holdings Bhd, Press Metal Aluminium Holdings Bhd, Solarvest Holdings Bhd and United Plantations Bhd.

Aeon Co (M) Bhd’s fourth quarter ended Dec 31, 2019 (4QFY19)’s net profit declined to RM49.88 million or 3.55 sen per share, from RM53.54 million or 3.81 sen per share y-o-y, due to higher interest expense and a lower share of results from associates.

Quarterly revenue rose 5.4% to RM1.17 billion, from RM1.11 billion y-o-y due to higher contributions from its retail and property management services segments.

It is declared a final dividend of 4 sen per share for FY19, which is to be approved at its forthcoming AGM.

FY19 profit stood 4% higher at RM109.29 million, from RM105.12 million in FY18. Revenue grew 4.3% to RM4.54 billion from RM4.35 billion.

Ann Joo Resources Bhd fourth quarter ended Dec 31, 2019 (4QFY19) dropped 415 to RM19.52 million, from RM33.03 million a year prior due to lower selling prices and supply-demand imbalance in the domestic steel market.

Quarterly revenue fell 10.7% y-o-y to RM603.71 million, from RM675.73 million due to lower selling prices and domestic sale tonnage.

No interim dividend was declared, versus 4QFY18’s six sen per share – bringing total FY19 payout at 2.5 sen, with FY19 full-year payout at 14.5 sen.

It posted a loss of RM89.86 million in FY19, from a net profit of RM149.54 million in FY18 – marking its first annual loss since FY15.

Revenue fell 4% y-o-y to RM2.22 billion, from RM2.32 billion in FY18.

Globetronics Technology Bhd’s fourth quarter ended Dec 31, 2019 (4QFY19) net profit slid by a third to RM14.54 million, from RM21.98 million last year due to lower volume offloading of products from customers. Quarterly revenue declined 28.3% to RM58.96 million, from RM82.24 million.

FY19’s net profit was down 36.2% at RM44.71 million, from RM70.12 million, with revenue contracting 34% to RM216.32 million, from RM327.96 million.

Guan Chong Bhd saw its financial year ended Dec 31,2019 (FY19) net profit rise 15.4% to RM219.4 million, from RM190.11 million on the back 20.1% y-o-y jump in sales volume for cocoa ingredients and enhanced operating efficiency.

Quarterly revenue grew 29.4% to RM2.94 billion, from RM2.27 billion in FY18.

It is declaring a final dividend of one sen for FY19, subject to shareholders’ approval bringing the year’s total dividend payout of RM34.6 million or 15.8% of net profit.

4QFY19’ net profit declined to RM44.73 million, from RM63.88 million as a result of an increased tax provision – which included a higher deferred tax liability arising mainly from the utilisation of capital allowance for the capacity expansion at its GCB Cocoa Malaysia plant.

Quarterly revenue grew 20% to RM796.4 million, from RM663.37 million.

Hap Seng Plantations Holdings Bhd saw its financial year ended Dec 31,2019 (FY19) rose 8% y-o-y to RM31.45  million, from RM29.11 million — with full-year revenue rising to RM418.60 million, from RM390.76 million.

The higher net profit was due to the reversal of certain deferred tax provision in prior periods.

Lay Hong Bhd’s third quarter ended Dec 31, 2019 (3QFY20) net profit fell by 42.3% y-o-y to RM2.16 million, from RM3.75 million, due to the share of a loss of associate amounting to RM1.14 million during the quarter, versus RM860,000 in 3QFY19.

In addition, higher rebates awarded to hypermarkets, and advertising and promotional expenses ate into its earnings.

Quarterly revenue rose 3.4% to RM210.31 million, from RM203.32 million.

Nine months ended Dec 31, 2019 (9MFY20) saw it posting a profit of RM7.14 million, versus a net loss of RM4.93 million in 9MFY19. Nine-month revenue rose 6.7% to RM629.19 million, from RM589.61 million.

Tiong Nam Logistics Holdings Bhd third quarter ended Dec 31, 2019 (3QFY19) net profit doubles to RM1.78 million, from RM772,000 a year prior due to higher contributions from its property development and investment segments and lower direct operating expenses.

Quarterly revenue rose 6.63% to RM155.89 million, from RM146.19 million a year prior.

Cumulative nine-months ended Dec 31,2019 (9MFY20) net profit fell 43.71% to RM5.03 million, from RM8.94 million due to higher depreciation and amortisation, finance costs and other overhead expenses. Revenue for the period inched 1.78% higher at RM461.46 million, from RM453.39 million in 9MFY19.

Press Metal Aluminium Holdings Bhd’s fourth quarter ended Dec 31, 2019 (4QFY19) net profit fell 9.5% to RM131.53 million, from RM145.36 million following lower revenue, which came in 4.4% lower at RM2.13 billion, from RM2.23 billion due to softer metal prices.

It declared a fourth interim dividend of 1.25 sen, resulting in a total payout of RM50.48 million for FY19, which is payable on March 12.

Full-year net profit fell 23.9% to RM471.03 million, from RM618.93 million, with revenue falling 6.7% to RM8.56 billion, from RM9.17 billion in FY18.

Solarvest Holdings Bhd posted a net profit of RM3.98 million in the third quarter ended Dec 31, 2019 (3QFY20) on revenue of RM62.12 million.

No comparison figures were present as it is the second interim financial report announced by the group in line with listing requirements.

Nine months ended Dec 31, 2019 (9MFY20) saw a net profit of RM11.85 million on revenue of RM202.08 million.

Its 9MFY20 revenue and net profit outstripped its FY19 revenue and net profit which were RM112.2 million and RM11.1 million respectively.

United Plantations Bhd is to undertake a bonus issue of 208.13 million shares on the basis of one bonus share for every existing share held — with all treasury shares being entitled to bonus shares and such bonus shares eventually to be treated as treasury shares.

The bonus issue is expected to be completed in the second quarter of 2020. AmInvestment Bank has been appointed as the principal adviser for the proposed bonus issue.

Separately its has declared combined final and special dividends amounting to RM1.05 per share for FY1.

The planter declared a final 20 sen dividend and a special dividend of 85 sen per share. The ex-date for the dividends is on April 27, 2020, while its payment date is on May 8, 2020.