ineering Bhd to experience a recovery in FY21 on the back of the steep losses recorded over the previous financial year. Barring any unforeseen changes (e.g. sudden suspension of yard works), we believe steep losses as in FY20 is unlikely to be repeated, it said.
The research house said the FY20 core loss of RM96.8mil was within its expectation at 104% of full-year loss forecasts although it exceeded consensus estimate by 31%.
It said the group is expected to benefit from a recovery in LNG dry-docking activities in FY21 in tandem with an increase in global demand despite challenges posed by border restrictions and stiff competition.
KUALA LUMPUR: RHB Research reiterated its "buy" call on Supermax Corp Bhd on expectations of stronger earnings prospects, a potential special dividend and positive news flow.
are among the stocks to watch on Wednesday, according to JF Apex Research.
Lembaga Tabung Angkatan Tentera (LTAT) has decided not to pursue the privatisation of Boustead Holdings at this juncture, after taking into consideration the current challenging economic environment arising from the Covid-19 pandemic and the reimplementation of Movement Control Order.
Bursa Malaysia’s net profit in its 4QFY20 stood at RM104.85mil, up 130% from RM45.56mil a year earlier, while revenue went up 78% to RM230.7mil from RM129.33mil, as trading revenue grew significantly for the securities and derivatives markets segment.
Greatech Technology via its unit Greatech Integration (USA) Inc has teamed up with US-based company Atlis Motor Vehicles (ATLIS) to assist ATLIS develop an electric vehicle battery pack assembly production line at its headquarters located in Arizona.
as its core net profit came within expectations.
The research house said FY20 core net profit of RM654.5mil was 105% and 99% of Kenanga s and consensus full-year estimates.
Westports FY20 core net profit rose 11% year-on-year in tandem with higher revenue on higher gateway volume and the tariff hike.
However lower transhipment on Covid-19 induced a slowdown.
EBIT was lower by 0.5ppt to 47.1% from 47.6% in FY19 due to general bad debt provision and apportionment of Oracle payment in the 1H of the year and partial impact from higher manpower costs in 4QFY20, said Kenanga.
On longer-term prospects, the research house said the payout ratio guidance is revised back to 75% in FY21 from 60% in FY20 with the aproved new container terminal expansion project pending only land conversion preparation and concession agreement negotiation with the government of Malaysia.
KUALA LUMPUR: Kenanga Research has tapered its earnings estimate on Fraser & Neave Holdings Bhd amid the resurgence of Covid-19 cases and higher commodity price trends but it expects the group to weather the uncertain times.
The research house, which has a market perform on the stock, said it expects FY21 core net profit to lower than than initially expected despite the first quarter result coming within expectations at 31% of its and consensus full-year estimates. Moving forward, qualms surrounding the resurgence of Covid-19 globally as well as the higher commodity price trends are likely to continue to temper with the anticipated earnings recovery, it said.