MALAYSIA DAYBOOK: IJM, Zelan Post Losses; Kulim Profit Doubles
IJM Corp., a Malaysian construction, property and plantations group, reported a fourth-quarter net loss of 20.2 million ringgit, compared with a 111 million- ringgit profit a year ago. This was mainly due to contractual claims, recovery of receivables and losses on some overseas projects, the company said.
IJM Land Bhd. (IJMLD MK) said fourth-quarter net income doubled to 44 million ringgit from 21.9 million ringgit a year earlier. IJM Plantations Bhd. (IJMP MK) quarterly net rose 65 percent to 25.9 million ringgit from 15.7 million ringgit.
KEY EARNINGS: * Zelan Bhd. (ZELN MK) 4Q net loss 162.4 million ringgit vs 205 million ringgit loss a year earlier. * Kulim Malaysia Bhd. (KUL MK) 1Q net income doubled to 127.1 million ringgit from 61.9 million ringgit. * KUB Malaysia Bhd. (KUBM MK) reported 1Q net loss of 5 million ringgit compared with a profit of 2.1 million ringgit a year. * MWE Holdings Bhd. (MWE MK) 1Q net income climbed 23 percent to 11.6 million ringgit. * Coastal Contracts Bhd. (COCO MK) 1Q profit climbed 30 percent 56.1 million ringgit. * TRC Synergy Bhd. (TRC MK) 1Q net income rose to 9.9 million ringgit from 8.9 million ringgit. * Alam Maritim Resources Bhd. (AMRB MK) 1Q net loss 7.4 million ringgit vs 20.5 million ringgit profit a year earlier. * Plentitude Bhd. (PLEN MK) 3Q net income 22.4 million ringgit vs 21.7 million ringgit. * Jerneh Asia Bhd. (JER MK) 1Q net income 4.8 million ringgit vs 8.8 million ringgit. * Tradewinds Corp. (TWC MK) 1Q net income fell to 13.1 million ringgit from 16.8 million ringgit.
MARKETS: * Malaysia’s FTSE Bursa Malaysia KLCI Index rose 0.5 percent. * The MSCI Asia Pacific Index increased 0.7 percent. * The Dow Jones Industrial Average gained 0.3 percent. * Palm oil August-delivery futures advanced 0.6 percent to 3,438 ringgit a metric ton.
BTV HIGHLIGHTS (KL times): * 7:10am: ING Chief Economist/Head of Research Tim Condon * 7:40am: University of Waterloo Prof Bessma Momani * 8:10am: UBS Chief Investment Strategist Pu Yonghao * 8:40am: Schoeni’s Gallery Director Nicole Schoeni * 9:10am: Societe Generale Asia Equity Strategist Todd Martin * 10:10am: BNP Paribas Chief Economist Richard Iley
To contact the editor responsible for this story: Barry Porter in Kuala Lumpur at email@example.com
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