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Immunisation boost to recovery

PETALING JAYA: While investor sentiment is expected to improve as vaccination rates increase, short-term risks, including the evolving pandemic environment and potential financial shocks from tighter liquidity, may keep the local bourse in a prolonged consolidation phase. Although the FBM KLCI closed 2.07 points higher yesterday at 1,514.60 amid talk of economic reopening, year-to-date, the index has declined some 6.9%. Daily new Covid-19 cases remain close to record highs, weighing on consumer sentiment. Notably, more speed bumps are emerging and underlying political risks point to a possibility of continued volatility in the market. Additionally, a “recovery scenario” may have already been priced in, said RHB Research.

Guan Chong profit dips 53% in 1Q on narrowing margin, upbeat on outlook

Cocoa manufacturer Guan Chong Bhd’s net profit dipped 53% to RM33.9 million in the first quarter ended March 31, 2021 (1QFY21) from RM72.2 million in the same period last year due to narrowing margin, but it remained upbeat on the industry picking up in the second half of 2021.

Guan Chong Bhd profit dips 53pc in Q1 on narrowing margin, upbeat on outlook | Money

Thursday, 27 May 2021 09:08 PM MYT KUALA LUMPUR, May 27 Cocoa manufacturer Guan Chong Bhd’s net profit dipped 53 per cent to RM33.9 million in the first quarter ended March 31, 2021 (Q1 FY2021) from RM72.2 million in the same period last year due to narrowing margin but remain upbeat of industry picking up in the second half of 2021. Revenue edged up 5.6 per cent to RM960.12 million compared to RM909.38 million previously. “The weaker bottom line was due to higher freight costs and competitive margins as a result of lower combined ratios of cocoa ingredients, an indicative measure of selling prices over cocoa bean costs.

Guan Chong's FY20 net profit increases to RM223.19mil

Guan Chong 4Q net profit rises 9% helped by improved cocoa products sales