Wednesday, September 28, 2011

#Stocks to watch:* S P Setia, Maybank, HELP, Adventa

KUALA LUMPUR: S P Setia Bhd would be in focus on Thursday, Sept 29 when it resumes trading after Permodalan Nasional Bhd offering RM3.90 per share under its proposed takeover exercise.

Based on the last traded price of RM3.50, this is a 40 sen premium.

PNB also offered to acquire the remaining warrants, which it does not own, at 91 sen per warrant. This is 45 sen or 97.8% above the last closing price of 46 sen.

Other stocks to watch are MALAYAN BANKING BHD [], which will hold its AGM on Thursday, HELP INTERNATIONAL CORPORATION [] Bhd, ADVENTA BHD [] and Scientex Bhd.

The Minority Shareholder Watchdog Group (MSWG) will query Maybank over the reasons for the increase in impaired loans for working capital and other financial portfolios.

Under the impaired loans, advances and financing purposes by economic purpose at group level, the total amount for the banking group was RM8.756 billion compared with RM6.186 billion a year ago.

MSWG said loans under working capital increased from RM2.8 billion (2010) to RM5.60 billion (2011) while under others, the amount increased substantially from RM239.8 million to RM491.4 million.

In HELP, its net profit for the third quarter ended July 31, 2011 slumped to RM245,000 from RM3.24 million a year earlier, due mainly to lower enrolment and higher costs incurred.

Revenue for the period rose marginally to RM23.96 million from RM23.38 million in 2010. EPS fell to 0.20 sen from 2.3 sen, while net assets per share was 85 sen.

For the nine months, net profit fell 24.9% to RM9.48 million from RM12.63 million in 2010, despite its revenue rising to RM79.63 million year-on-year from RM77.87 million.

HELP cautioned that due to the weaker US dollar and sterling pound, many Chinese students had opted to pursue their studies directly in the US and UK, adding that the trend would continue in the near future.

Adventa posted net profit of RM4.02 million in the third quarter ended July 31, 2011, down 50.9% from RM8.19 million a year ago, impacted by the weakness in the US dollar and higher raw material costs.

Its revenue rose 18.5% to RM103.58 million from RM87.38 million but this was impacted by higher operating expenses, which increased to 27.9% to RM99.69 million from RM77.95 million a year ago.

Stretch film producer and property developer Scientex posted net profit of RM20.77 million in the fourth quarter ended July 31, 2011, up 16.5% from RM17.83 million a year ago. Revenue rose 7.1% to RM205.20 million from RM191.68 million. Earnings per share were 9.66 sen compared with 8.28 sen.

For the financial year ended July 31, 2011, its earnings rose 28.1% to RM77.24 million from RM60.32 million in the previous financial year while revenue increased by 15.7% to'' RM804.02 million from RM694.82 million.

No comments:

Post a Comment