KUALA LUMPUR (May 29): Based on corporate announcements and news flow today, companies that may be in focus on Monday (June 1) may include the following: CIMB Group Holdings Bhd, Hong Leong Bank Bhd, Hong Leong Financial Group Bhd,  RHB Bank Bhd, Affin Bank Bhd, Carlsberg Malaysia Bhd, Guan Chong Bhd, PPB Group Bhd, Hap Seng Consolidated Bhd, Ta Ann Holdings Bhd, Bumi Armada Bhd, IOI Properties Group Bhd, Paramount Corp Bhd, Mah Sing Group Bhd, Star Media Group Bhd, GD Express Carrier Bhd, InNature Bhd and Tomei Consolidated Bhd.

CIMB Group Holdings Bhd has appointed Datuk Abdul Rahman Ahmad as its chief executive officer (CEO) and executive director (ED) effective June 10. The former CEO of Permodalan Nasional Bhd (PNB) will also be the CEO and ED of CIMB Bank Bhd.

Hong Leong Bank Bhd’s (HLB) net profit for the third quarter ended March 31, 2020 (3QFY20) declined 15.7% to RM534.79 million from RM633.9 million a year earlier due to lower net income, higher operating expenses, and a RM121.2 million allowance for impairment losses on loans, advances and financing. Quarterly revenue dropped 3.24% to RM1.13 billion from RM1.17 billion previously.

Hong Leong Financial Group Bhd (HLFG) recorded a 26.8% decline in its 3QFY20 net profit at RM339.2 million from RM463.42 million on lower earnings from all its operating divisions, while quarterly revenue retreated 12.6% to RM1.14 billion from RM1.31 billion.

RHB Bank Bhd's net profit for 1QFY20 slipped 9.4% to RM570.88 million from RM630.19 million due mainly to higher allowances for credit losses and lower non-funding income. Quarterly revenue was lower at RM3.23 billion versus RM3.35 billion previously.

Affin Bank Bhd’s net profit dropped nearly 10% to RM123.57 million in 1QFY20, from RM137.23 million a year ago, while its quarterly revenue grew 33.4% to RM630.38 million from RM472.52 million. The bank’s earnings were dragged down by credit impairment losses of RM117.1 million compared with a write-back of RM9.9 million in 1QFY19, coupled with higher overheads.

Carlsberg Malaysia Bhd’s net profit fell 16.7% in 1QFY20 to RM72.96 million from RM87.6 million, while revenue dropped 10.6% to RM589.87 million from RM659.92 million. Lower earnings were due to the COVID-19 outbreak that affected its sales and the resultant containment efforts that saw the suspension of its operations.

Unlike in 1QFY19 — when it declared a 21.5 sen dividend — Carlsberg did not declare any dividend this time around.

Guan Chong Bhd’s 1QFY20 net profit grew 35.8% to RM72.17 million from RM53.14 million a year ago on higher selling prices of cocoa products and revenue contributed by its newly-acquired German subsidiary Schokinag Holding GmbH as well as a RM27.8 million gain on disposal of Guan Chong’s entire stake in associate company Fuji Oil Global (M) Sdn Bhd.

Quarterly revenue soared by 40.32% to RM909.38 million from RM648.07 million last year.

PPB Group Bhd’s net profit declined 24.63% to RM187.27 million in 1QFY20 from RM248.45 million last year, due to lower earnings contributions across all divisions, including its associate company Wilmar International Ltd. Quarterly revenue fell 7.64% to RM1.07 billion from RM1.16 billion.

Hap Seng Consolidated Bhd’s net profit managed to grow marginally by 1.52% to RM160.34 million in 1QFY20 against RM157.98 million last year, thanks to better results from property and credit financing divisions. Quarterly revenue, however, slipped 15.7% to RM1.48 billion, from RM1.75 billion a year ago, no thanks to lower revenue across all divisions except for the property division.

Timber and oil palm player Ta Ann Holdings Bhd's net profit for 1QFY20 jumped 26.85% to RM10.25 million from RM8.08 million a year ago, following higher average selling prices for crude palm oil (CPO) and fresh fruit bunch (FFB). The average selling price for CPO rose 34% during the quarter, while FFB price was up 40%. Quarterly revenue grew almost 8% to RM252.6 million from RM178.92 million.

Bumi Armada Bhd reported a net loss of RM223.97 million for 1QFY20 against a net profit of RM62.21 million last year, as it recognised non-cash impairments of RM314.4 million following the oil-price crash in the quarter that pushed Brent to 30-year lows. Quarterly revenue, however, increased 12.4% to RM552.62 million from RM491.61 million.

IOI Properties Group Bhd’s 3QFY20 net profit fell 63.3% to RM71.36 million from RM194.7 million a year earlier after its property development activities were affected by the lockdowns in Malaysia and China. Quarterly revenue declined 17.7% to RM401.43 million from RM487.74 million.

The divestment gain of RM460.6 million from the disposal of Pre-Tertiary Education Group helped to lift Paramount Corp Bhd’s net profit for 1QFY20 to RM466.95 million from RM6.17 million last year. However, the group’s profit before tax from continuing operations was 51% lower at RM4.3 million from RM8.6 million mainly due to the lower contribution from the property division.

Paramount’s quarterly revenue was flat at RM122.11 million from RM122.29 million in 1QFY19.

Mah Sing Group Bhd saw a 45.34% drop in 1QFY20 net profit to RM30.07 million, from RM55.01 million a year earlier due to the traditionally softer demand during the Chinese New Year period and delayed construction progress because of the movement control order (MCO). Quarterly revenue dropped 17.6% to RM371.13 million from RM450.33 million.

Star Media Group Bhd slipped into a net loss of RM3.98 million for 1QFY20, versus a net profit of RM3.54 million a year ago amid lower revenue from the print media segment, while quarterly revenue declined 20.36% to RM65.76 million from RM82.57 million.

Nonetheless, Star Media said its board of directors is confident the group is well positioned to weather through these unprecedented challenges given its big warchest. Its cash reserve of more than RM300 million with no borrowings will serve as a solid base for it to capitalise on merger and acquisition opportunities during the market consolidation, and even penetrate into new businesses that have a promising outlook.

GD Express Carrier Bhd’s (GDex) independent and non-executive chairman Datuk Ahmad Sufian @ Qurnain Abdul Rashid is stepping down by the end-May.  Meanwhile former Bank Negara Malaysia governor Tan Sri Muhammad Ibrahim is succeeding Ahmad as chairman on Monday (June 1).

Body shop retailer InNature Bhd’s net profit for 1QFY20 declined by 72.2% to RM2.75 million, from RM9.99 million last year, following the unexpected closure of its stores as a result of the Movement Control Order (MCO). Quarterly revenue declined by 21.47% to RM37.39 million from RM47.61 million.

Tomei Consolidated Bhd’s net profit leaped to RM4.01 million in 1QFY20 nearly 40% higher from RM2.87 million last year due to better gross margin widened by higher gold prices. Quarterly revenue, however, was down by 10.8% to RM127.8 million from RM143.33 million.