Thursday, November 17, 2011

#Stocks to watch:* TSH, Tradewinds Plantations, WCT, MMHE, YTL

KUALA LUMPUR (Nov 18): The flurry of corporate results could help provide the direction of the market on Friday despite the external factors from the eurozone which are weighing down sentiment.

Among the stocks which could also see trading interest is IOI Corp, which will announce its results. Maybank Investment Bank Research aid the first quarter earnings for the period ended Sept 30 were expected to be weaker on-quarter.

'Sentiment may be dampened by huge forex translation loss of c.RM230m in 1QFY12 following a weaker ringgit,' it said on Thursday.

Bank Negara Malaysia will announce the third quarter GDP performance later Friday and also provide an outlook for the economy going forward.

Stocks to watch are TSH RESOURCES BHD [], Tradewinds PLANTATION []s Bhd, WCT BHD [], Malaysia Marine and Heavy Engineering Holdings Bhd and YTL Corp and the group of companies.

TSH Resources's net profit surged 89% to RM34.47 million in the third quarter ended Sept 30, 2011 from RM18.24 million a year ago, underpinned the performance of its palm and bio-integration segment.

Its revenue for the quarter rose 27.5% to RM273.15 million from RM214.26 million in 2010. Earnings per share rose to 8.41 sen from 4.45 sen in 2010, while net assets per share was RM2.06.

For the nine months ended Sept 30, TSH's net profit jumped 131% to RM94.39 million from RM40.83 million in 2010 while revenue increased by 29.2% to RM855.69 million from RM662.22 million in 2010.

Tradewinds Plantations' earnings jumped 96% to RM98.80 million in the third quarter ended Sept 30 from RM50.29 million a year ago, as it benefited from higher prices and production of palm products.

Its revenue increased 39.6% to RM333.54 million from RM238.84 million while earnings per share were 15.7 sen compared with RM238.84 million.

Tradewinds Plantations said for the nine months ended Sept 30, its earnings increase 130.4% to RM237.51 million from RM103.07 million while revenue rose 46% to RM899.26 million from RM615.67 million.

WCT Bhd reported a 28.5% increase in earnings to RM38.29 million in the third quarter from RM30.56 million a year ago, mainly due to higher contribution from the civil engineering and CONSTRUCTION [] division.

Its revenue was marginally higher by 1.3% to RM361.97 million from RM357.14 million. However, the third quarter's revenue and net profit were lower when compared with the second quarter where the revenue was RM376 million and earnings at RM38 million.

For the nine-month period, the earnings rose 15.3% to RM114.48 million from RM99.26 million in the previous corresponding period. Revenue, however, declined 17.1% to RM1.053 billion from RM1.270 billion.

MMHE reported a 3.2% increase in net profit to RM80.22 million in the quarter ended Sept 30 from RM77.71 million a year ago. However, its revenue during the quarter fell 54.7% to RM463.09 million from RM1.022 billion.

In the nine-month period from January to September, its earnings fell 15.2% to RM159.51 million from RM188.28 million a year ago. Revenue slumped 35.2% to RM1.420 billion from RM2.195 billion.

YTL CORPORATION BHD []'s earnings fell 9.7% to RM251.8 million (US$80.5 million) in the first quarter ended Sept 30, 2011 from RM278.9 million (US$89.1 million) a year ago. It said the lower earnings were due to loss incurred in the nascent 'Yes' mobile broadband division.

The group revenue grew 3.1% to RM4.543 billion from RM4.405 billion but pretax profit declined 15% to RM530.1 million from RM623.8 million.

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