IOI posts 134% jump in 1Q profit mainly on forex gain

KUALA LUMPUR (Nov 19): IOI Corporation Bhd registered a net profit of RM604.3 million for the first quarter (1Q) ended Sept 30, 2012, a jump of 134.1% year-on-year, mainly on currency gains and contributions from non-plantations segments.

The group had registered a RM258.1 million net profit in the corresponding quarter in previous year.

But revenue for the quarter fell 17.1% to RM3.4 billion, from RM4.1 billion a year ago.

Earnings per share was higher at 9.44 sen, versus 4.02 previously.

"The increase in profits is mainly due to the translation gain of RM259.2 million (1Q FY 2012 — loss of RM271.7 million) on foreign currency denominated borrowings and higher contributions from all major segments other than the plantation segment," said IOI Corp in a filing to Bursa Malaysia today (Monday).

On future prospects, IOI said: "The plantation segment continues to face challenges on manpower constraints and prevailing lower CPO prices. However, the segment is expected to still perform well in the medium term with resilient demand from the food sector, price competitiveness, higher consumption in emerging market and expected recovery in palm oil prices in early 2013."

The group also said the local property market outlook remains positive, especially in the landed property segment. It anticipates stronger sales with more launches in the current financial year.

In Singapore, the continued resilient performance of the mass market segment will ensure that the group's recent mass market projects continue to perform well, IOI said in its filing.

"However, the high-end market segment is still affected by uncertainty in the global economic environment and cooling measures introduced by the government of Singapore," it added.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Ten more Turkish tanks head across border into Syria
    Ten more Turkish tanks head across border into Syria AFP News - 18 minutes ago

    At least 10 more Turkish tanks on Thursday crossed the border into Syria a day after pro-Ankara Syrian opposition fighters ousted jihadists from the town of Jarabulus, an AFP photographer said. The tanks were set to join around a dozen others which … More »

  • Bold moves, tepid gains: Have central banks met their limit?
    Bold moves, tepid gains: Have central banks met their limit? Associated Press - 23 minutes ago

    The world's key central banks have worked themselves into contortions to try to rev up economic growth, raise inflation and coax consumers and businesses to borrow and spend more. They've pumped trillions ... … More »

  • WHY IT MATTERS: Trade Associated Press - 26 minutes ago

    THE ISSUE: In this angry election year, many American voters are deeply skeptical about free trade — or downright hostile to it. The backlash against trade threatens a pillar of U.S. policy since World ... … More »

  • PBOC Money-Market Tactic Has Traders Trying to Decode Signal (3) Bloomberg - 31 minutes ago

    The People’s Bank of China sold 50 billion yuan ($7.5 billion) of 14-day reverse-repurchase agreements on Wednesday, its first offering of anything with a tenor other than seven days since February. Officials are signaling they’re ready to curb … More »

  • Dollar Rally Fades Away Before Yellen as European Stocks Retreat Bloomberg - 34 minutes ago

    European stocks fell for the first time this week. The Bloomberg Dollar Spot Index snapped a four-day winning streak that was fueled by hawkish comments from Fed officials, while the Stoxx Europe 600 Index retreated from a one-week high. … More »

  • European stocks dip at open AFP - 36 minutes ago

    Europe's main stock markets fell at the start of trade on Thursday, with London's benchmark FTSE 100 index down 0.4 percent to 6,810.08 points. Frankfurt's DAX 30 also lost 0.4 percent to 10,576.56 points ... … More »

  • Oil prices dip as focus returns to global supply overhang
    Oil prices dip as focus returns to global supply overhang Reuters - 44 minutes ago

    Oil prices dipped on Thursday, extending the previous day's decline, as the market focus returned to a global supply overhang, although a surprise fall in Chinese crude inventories did lend some support. U.S. West Texas Intermediate (WTI) crude … More »

  • Korea’s 50-Year Bond Shows Aging Investors Want Mature Debt (2) Bloomberg - 45 minutes ago

    China and Thailand have already started issuing 50-year debt, and there is speculation Japan will do the same. The United Nations forecasts the ratio of people in Asia over 60 will more than double by 2050, led by Japan to 41 percent of the … More »

  • Asia energy stocks hit by oil sell-off, eyes on Yellen
    Asia energy stocks hit by oil sell-off, eyes on Yellen AFP News - 45 minutes ago

    Asian energy firms suffered further losses Thursday after another sharp fall in oil prices, while currency traders moved cautiously the day before a key speech by Federal Reserve boss Janet Yellen. World markets have struggled to gain traction this … More »

  • Alipay Owner Said to Plan Hong Kong IPO in First Half of 2017 Bloomberg - 45 minutes ago

    Mainland China’s restrictions on stock options are discouraging Zhejiang Ant Small & Micro Financial Services Group Co. from its original plans for the dual listing, said the people, asking not to be named because the matter is private. A Shanghai … More »

  • China's CNOOC reports $1.16 bn net loss
    China's CNOOC reports $1.16 bn net loss AFP News - 52 minutes ago

    China's main offshore oil and gas producer CNOOC saw its shares on the Hong Kong stock exchange fall on Thursday, after it reported a $1.16 billion net loss for the first half of 2016. It was the company's first half-year loss since it started … More »

  • Oil prices turn higher as dealers eye output talks AFP - 1 hour 2 minutes ago

    Oil prices turned higher in Asian trade Thursday, a day after suffering hefty losses in response to data showing a surprise jump in US stockpiles, while hopes for a deal to limit output were dealt a blow. ... … More »

  • Essentra to sell clean wipes business in 220-million-pound deal Reuters - 1 hour 3 minutes ago

    The company, which is a supplier of speciality plastic and packaging components, said it expected conditions to close the Porous Technologies deal to be satisfied by the first quarter of 2017. Essentra, which has warned on results twice this year, … More »

  • Indonesian navy finds fuel tanker taken by own crew
    Indonesian navy finds fuel tanker taken by own crew AFP News - 1 hour 5 minutes ago

    Indonesia's navy said on Thursday it had found a tanker carrying almost $400,000 worth of diesel that was taken by its own crew last week due to a commercial dispute. The MT Vier Harmoni was initially feared to have been hijacked after setting sail … More »

  • Korea Encourages Stricter Loan Screening Amid Record Debt (1) Bloomberg - 1 hour 8 minutes ago

    The pace of household debt has accelerated in recent years as the Bank of Korea lowered rates to unprecedented levels and the government eased property regulations to support the economy. The booming property market has played a key role in … More »

  • Playtech to pay 150 million euros as special dividend Reuters - 1 hour 11 minutes ago

    (Reuters) - Gambling technology company Playtech Plc said on Thursday it would return 150 million euros (£127.87 million) to shareholders through a special dividend after reporting an 18 percent jump in ... … More »

  • Mobius Says Helicopter Money Will Be Japan’s Next Big Experiment Bloomberg - 1 hour 20 minutes ago

    Haruhiko Kuroda decides to act. Helicopter money is coming, says Mark Mobius, even as soon as next month. For Mobius, executive chairman of Templeton Emerging Markets Group, traditional easing measures have just made people save instead of spend … More »

  • Asia stocks hold gains before Yellen speech, dollar firm
    Asia stocks hold gains before Yellen speech, dollar firm Reuters - 1 hour 48 minutes ago

    Asian stocks edged higher on Thursday but clung to recent well-worn trading ranges while the dollar held firm against regional currencies ahead of a speech by Federal Reserve Chair Janet Yellen at a global central bankers' meeting. MSCI's broadest … More »

  • Huge losses at Australian retail giant Woolworths
    Huge losses at Australian retail giant Woolworths AFP News - 2 hours 21 minutes ago

    Australian supermarket giant Woolworths on Thursday reported a large annual net loss of Aus$1.23 billion (US$940 million), its first since listing more than two decades ago, following a failed push into hardware and a slump in food sales. … More »

  • Maybank Posts Third Straight Profit Drop on Loan Impairments (1) Bloomberg - 2 hours 28 minutes ago

    Net income fell to 1.16 billion ringgit ($288 million) in the three months through June from 1.58 billion ringgit a year earlier, the Kuala Lumpur-based company said in a stock exchange filing on Thursday. Maybank reiterated its “vigilance” over … More »

  • SE Asia Stocks-Lacklustre ahead of Yellen speech Reuters - 2 hours 36 minutes ago

    By Krishna V Kurup Aug 25 (Reuters) - Southeast Asian stock markets were lacklustre on Thursday after an overnight drop on Wall Street, while the dollar rose ahead of a speech by Federal Reserve Chair ... … More »

  • Clean air but murky policy as Yellen speech awaited
    Clean air but murky policy as Yellen speech awaited AFP News - 2 hours 50 minutes ago

    If US Federal Reserve chief Janet Yellen chooses to use her closely watched address on Friday to clear the air, she will have plenty of clearing to do. Yellen, who will address a ballyhooed annual gathering of central bankers in the crisp climate … More »

  • Galaxy’s Profit Beats Estimates as New Resorts Woo Tourists (1) Bloomberg - 2 hours 53 minutes ago

    Adjusted earnings before interest, taxes, depreciation and amortization, or adjusted Ebitda, was HK$2.3 billion ($297 million), compared with the HK$2.25 billion median estimate of five analysts surveyed by Bloomberg. Galaxy, Macau’s largest casino … More »

  • Oil prices extend losses as dealers eye output talks AFP - 3 hours ago

    Oil prices edged down again in Asian trade Thursday, a day after suffering hefty losses in response to data showing a surprise jump in US stockpiles, while hopes for a deal to limit output were dealt a ... … More »

  • Aluminium giant Rusal reports 70% net profit plunge AFP - 3 hours ago

    Russian aluminium giant Rusal said Thursday net profit fell 70 percent in the first half of 2016, as weaknesses in global commodities markets keeps prices depressed. The cost of aluminium sank to six-year ... … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1290.0000.00%
    N21.SI
    0.61+0.01+1.67%
    5TP.SI
    0.990.000.00%
    Y92.SI
    0.355-0.010-2.74%
    E5H.SI
    1.04-0.04-3.70%
    OV8.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.45+0.09+26.76%
    AYB.SI
    0.47+0.09+22.08%
    E8Z.SI
    0.34+0.03+11.48%
    41A.SI
    0.605+0.055+10.00%
    BDR.SI
    0.71+0.05+7.58%
    BTE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.13-0.02-15.58%
    RF7.SI
    0.26-0.04-13.33%
    BDU.SI
    0.33-0.05-13.16%
    AYV.SI
    0.20-0.03-13.04%
    AWI.SI
    0.40-0.06-13.04%
    BBW.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3521-0.0016-0.12%
    USDSGD=X
    1.5251+0.0002+0.01%
    EURSGD=X
    1.7875-0.0031-0.17%
    GBPSGD=X
    74.2030+0.06+0.08%
    SGDJPY=X
    5.7312+0.0076+0.13%
    SGDHKD=X
    2.9738-0.0031-0.10%
    SGDMYR=X
    9,801.0908+17.8496+0.18%
    SGDIDR=X
    4.9237+0.0104+0.21%
    SGDCNY=X
    1.0310+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,329.20-0.50-0.04%
    GCZ16.CMX
    18.58+0.02+0.13%
    SIU16.CMX
    95.34-8.55-8.23%
    ^XAU
    2.08+0.01+0.29%
    HGU16.CMX
    46.85+0.08+0.17%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.140.00
    ^FVX
    1.56+0.01
    ^TNX
    2.24+0.01
    ^TYX