KUALA LUMPUR (May 29): The FBM KLCI may extend its gains on Tuesday, in line with the overall positive closing at key regional markets.
Investor sentiment at the local market could be buoyed by the firmer earnings reported by conglomerate Boustead Holdings Bhd and Petronas Chemicals Group Bhd.
Regional markets closed mixed as European equities rose on Monday, cheered by opinion polls suggesting Greece's pro-bailout parties will be able to form a government committed to keeping the country in the euro, according to Reuters.
However, any pressure on the equity markets and lack of direction may result from the Memorial Day holiday on Monday in the US, with Wall Street closed to observe the holiday.
On Bursa Malaysia, among the stocks that could be in focus on Tuesday are Boustead, Petronas Chemicals, Mudajaya Group Bhd, Mah Sing Group Bhd, Shin Yang Shipping Corporation Bhd, Sentoria Group Bhd and Masterskill Education Group Bhd (MEGB).
Boustead's net profit for the first quarter ended March 31, 2012 rose 28.87% to RM144.60 million from RM112.20 million, on the back of 51.48% increase in revenue to RM2.4 billion from RM1.59 billion in 2011.
Earnings per share was 13.98 sen from 10.85 sen previously, while net assets per share was RM4.43. Boustead declared a first interim single tier dividend of 7.5 sen, amounting to a total payout of RM77.6 million.
Petronas Chemicals posted a net profit of RM1.02 billion for the first quarter ended March 31, 2012 on the back of revenue RM4.39 billion.
The company had on March 2 this year announced the change of financial year end from March 31 to Dec 31 beginning from April 2011. As a result, there is no equivalent comparative quarter. Earnings per share was 13 sen while net assets per shares was RM2.39.
Reviewing its performance on Monday, Petronas Chemicals said it recorded improved operational performance this quarter with higher production and plant utilisation achieved in both segments.
Mudajaya's net profit for the first quarter ended March 31, 2012 surged 80% to RM74.24 million from RM41.24 million a year earlier, on the back of a 97.5% jump in revenue to RM440.49 million from RM223.08 million in 2011.
Earnings per share was 13.61 sen compared with 7.5 sen previously, while net assets per share was RM1.85.
Mah Sing has logged sales of slightly over RM1 billion as at May 15, marking 40% of its RM2.5 billion target for 2012. The group attributed the sales largely to projects from Greater Kuala Lumpur, Johor Bahru and Penang island, it said in a statement on Monday.
Meanwhile, its unbilled sales stood at RM2.48 billion during the first quarter ended March 31, or 1.8 times the revenue recognised from its property development division last year.
In the first quarter, its net profit rose by 45.7% y-o-y to RM59.9 million from RM41.1 million, on the back of a 47% growth in revenue to RM457.7 million from RM311.7 million.
Shin Yang's wholly-owned subsidiary Shin Yang Shipyard Sdn Bhd has secured two shipbuilding contracts worth a total RM166.3 million. The company said on Monday that its unit had been awarded the two contracts by Belait Shipping Co (B) Sdn Bhd to build two dynamix positioning 2 (DP2) platform supply vessels.
Sentoria posted a net profit of RM6.2 million for its second quarter ended March 31, 2012, on the back of revenue RM398.96 million. Earnings per share was 1.68 sen while net assets per share was 43 sen.
For the six months ended March 31, Sentoria posted net profit RM18.01 million on the back of revenue RM96.88 million. The company declared a first interim single tier dividend of one sen per share, totaling RM4 million, for the financial year ending Sept 30, 2012 to be paid on June 8.
MEGB posted a net loss of RM2.92 million for the first quarter ended March 31, 2012 from net profit RM22.59 million a year earlier, due mainly to lower student enrollment as a result of high level of competition in the market.
The company said on Monday that its revenue for the quarter fell to RM44.11 million from RM73.68 million in 2011. Loss per share was 0.71 sen compared to earnings per share of 6 sen, while net assets per share was RM1.25.
MEGB declared a first interim single tier dividend of 14.64 sen per share of 20 each totalling RM60.01 million for the financial year ending Dec 31, 2012 to be paid on July 3.