Results Update In QE31/10/2021 (2Q22), SCGM's net profit dropped 6% q-o-q or 19% y-o-y to RM7.8 million while revenue increased 5% q-o-q or 19% y-o-y to RM72.5 million.  For 2Q22, the Group revenue increased 5% q-o-q "resulting from higher sales of F&B packaging and extrusion sheet. Local sales increased by 4.7% to RM49.207 million from RM46.990 million in 1Q22 while export sales increased by 4.6% to RM23.335 million from RM22.312 million in 1Q22. Despite the 4.7% increase in Group revenue, the Group’s profit before tax decreased marginally by 0.1% to RM9.872 million in 2Q ..read more

Result Update For QE30/11/2021 (1QFY2022), Topglov's net profit dropped 69% q-o-q or 92% y-o-y to RM186 million while revenue dropped 25% q-o-q or 67% y-o-y to RM1.584 billion. The Group’s weaker quarter-on-quarter performance for 1QFY2022 was mainly attributed to declining average selling prices ('ASPs') and higher operating costs as a result of lower utilisation rates, while raw material costs reduced at a much slower pace in comparison to glove ASPs, thereby impacting profit. Raw material prices for the quarter ended 1QFY2022 have reduced from 4QFY2021, with average natural latex ..read more

Results Update For QE30/4/2021, Hiaptek's net profit rose 117% q-o-q or 12-fold to RM66 million while revenue was mixed- down 7% q-o-q but up 100% y-o-y to RM330 million. Its revenue decreased by 7% q-o-q due to lower sales volume for both the Trading and Manufacturing divisions attributable to the Chinese New Year holidays in February 2021. Despite the lower revenue, Profit from Operations increased by 67% to RM63.53 million due to higher steel prices and cost optimization efforts undertaken during the quarter under review. "Together with an improved contribution from the JV entity ..read more

Yesterday, FBMKLCI dropped 15 points to close at 1545. The break below 1550 level may lead to an acceleration of the decline in our market. While the index may rebound back above the 1550 mark, the steady flow of negative news has instilled a level of fear among investors and traders, which until recently were driven by unchecked greed. If the market failed to climb back above 1550, then it will quickly slide to the next support at 1520 or the immediate psychological level of 1500.   Chart 1: FBMKLCI's daily chart as at Jun 28, 2021 (Source: Kenanga BTX) Chart 2: FBMKLCI's wee ..read more

Results Update In QE30/4/2021(4Q21), SCGM's net profit dropped 6% q-o-q or rose 11% y-o-y to RM7.6 million while revenue increased 5% q-o-q or 32% y-o-y to RM66 million.  The Group Revenue increased q-o-q resulting from 13%-increase in local sales to RM46.106 million from RM40.757 million (due to higher deliveries of F&B packaging due to higher demand in general) which offset the 9.8% decline in export sales to RM19.638 million from RM21.768 million (due to lower sales of F&B packaging, in line with the past trend in which export sales would be higher during the few months p ..read more

One of the most regrettable oversight that any remisier can make is the failure to inform your clients that his warrant is about to expire. This information is available in Bursa website.  To get the list of company-issued warrants that will be expiring within 30 days, you click on "Company Announcements" and then click on "Expiry/Maturity/Termination of Securities". See the steps below or just go here. To get the list of structured warrants that will be expiring within 30 days, you click on "Structured Warrants" and then click on "Expiry/Maturity/Termination of Securities". See the ste ..read more

Result Update In QE30/4/2021, Astino's net profit rose 22% q-o-q or 447% y-o-y to RM22.8 million while its revenue dropped 11% q-o-q but rose 70% y-o-y to RM156 million. Revenue has decreased q-o-q primarily due to decrease in local market demand. Profit before taxation increased by RM8.9 million to RM29.8 million, due to higher selling prices and improved operating cost. In addition, the allowance for diminution in value of inventories was RM2.3 million lower than the immediate preceding quarter. (Note: Astino is essentially a building material producer. For more, go here). Table: Astino's ..read more

Another stock which has been hit with financial irregularity is CMSB. On April 22, CMSB’s Deputy Chairman resigned from the company amid allegations of conflict of interest (here). Shortly thereafter, its CFO was suspended on May 5 (here). CMSB’s management did the right thing to quickly appoint KPMG to probe the allegations of financial mismanagement in relation to its investments and operations (here). This sent a strong signal to the market that the management is working to resolve the problem, if any. Two days ago, two of its non-executive directors, Yam Kong Choy and Ho Heng Chuan resigne ..read more

Serba Dinamik has been in the news since May 25 when it was first reported that the company's external auditor, KPMG had filed a complaint to the company's independent directors regarding a matter of serious concern. How did the company's management handle this complaint? Let me give you a bit of background of my training & experience in the field of accountancy & auditing. My first job was as an audit clerk in Ernst & Young (formerly, Ernst & Whiney) in its Sandakan office in 1983. It was a very exciting time for me as I had the opportunity to work with the audit team that han ..read more

Results Update For QE30/4/2021, BAuto's net profit rose 102% q-o-q or 26-fold y-o-y to RM67 million while revenue rose 7% q-o-q or 114% y-o-y to RM641 million. Group revenue improved 7%  q-o-q largely due to improvement in sales volume from the domestic operations. Higher sales volume from the domestic operations was achieved when the consumers rushed to buy new vehicles in the new calendar year 2021 and before the end of the SST Exemption in June 2021. The Group pre-tax profit for the current quarter under review has increased by RM41.3 million or 97.8% mainly because of improvement in ..read more