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16 theSun | THURSDAY JUNE 25 2009

business

KNM expects
Glomac pre-tax
profit increases
to RM56.7mil
BMedia posts pre-tax to retain
profit level
KUALA LUMPUR: Glomac Bhd’s pre-tax
profit for financial year ending April 30
this year rose by 12.9% to RM56.7 million
from RM50.2 million in the same period
last year.
Revenue increased by 8.4% to RM351.6
million from RM324.3 million previously.
profit of RM36.42mil
KUALA LUMPUR: Berjaya Media Berhad (for- proposed to distribute by way of dividend-in-
PUTRAJAYA: Process equipment maker
KNM Group Bhd expects its profit for the
financial year ending Dec 31, 2009 to be
comparable with the last financial year.
Its group managing director Lee Swee
Eng said the projection was based on
For the fourth quarter ending April 30 merly known as Nexnews Berhad) recorded specie of up to 119,084,708 ordinary shares the anticipated pick-up in demand and
this year Glomac’s revenue rose by 38.8% a consolidated revenue of RM82.81 million of RM1.00 each of BMedia to the shareholders enquiries for oil and gas exploration
to RM99.9 million, while pre-tax profit and pre-tax profit of RM36.42 million for of BCorp, on the basis of 25 BMedia shares for projects supported by the high crude oil
surged 195.9% to RM14.5 million. the 16-month period ending April 30, 2009. every 1,000 ordinary shares of RM1.00 each price which is hovering at US$60-US$70
In a statement here yesterday, the In a filing to Bursa Malaysia yesterday, the held in BCorp. per barrel presently.
property developer said the improved company said the revenue was substantially This proposed dividend-in-specie will Cool For the financial year ending Dec
performance was attributed to strong contributed by its principal subsidiary, Sun improve the public shareholding spread of 31, 2008, KNM recorded a profit of
progress billings from its ongoing projects, Media Corporation Sdn Bhd for the period the BMedia.
wheels RM336.232 million with a revenue of
with maiden revenue contribution from under review. As the improved shareholding spread for boy RM2.528 billion.
Glomac Galleria, Seri Bangi and Glomac The pre-tax profit achieved was mainly will only be known on the completion date racers “When the oil price dropped to US$30
Tower. attributed to the operating profit contributed of the said proposal, BMedia will decide its per barrel, many customers put on hold
It said the group’s profit included by Sun Media and also the recognition of next course of action to address its public
pg 22 their projects.
RM4.4 million fair value gain from the sale exceptional gain arising from the disposal of spread after the implementation of the said “But the situation looks more positive
of Wisma Glomac 3, one of its investment theEdge on Aug 26 last year. proposal. now with the oil price coming back.
properties within the commercial develop- The board noted that with the prevailing On Nov 24 last year, BMedia announced Many of these projects are being revived
ment of Kompleks Kelana Centre Point. economic conditions, the group will face the Board of Directors of the Company has ap- and our customers have started calling
Minority interest for the year was higher tremendous challenges in the forthcoming proved the change of year end from Dec 31 to us for negotiation,” Lee said after KNM’s
due to the higher contribution from 51% financial year. April 30 in order to be coterminous with its hold- annual general meeting here yesterday.
owned Glomac Tower, it said. Against this backdrop, the group will strive ing company. Thus, the filing to Bursa covers 16 “Among the active areas is the Middle
It said as a result, the group recorded to increase its market share of advertisement months, from Jan 1, 2008 to April 30, 2009. East. As the areas there mostly produce
net profit of RM32.3 million compared with revenue by aggressive marketing initiatives During the 16-month financial period conventional oil, the cost of development
RM35.1 million previously. and widening its readership via better circula- ended April 30, 2009, the BMedia paid an in- Ahmad is fairly cheap and the current oil price
Glomac is proposing a final dividend of tion channels/points. terim dividend of 14 sen per share single-tier Sarji (left) level is profitable for them,” Lee said.
3.5 sen less 25% tax for the financial year On Dec 23 last year, Berjaya Corporation exempt dividend-in-specie on 232,362,822 and Hamad Demand for deepwater oil in Brazil
ending April 30 this year. – Bernama Berhad (BCorp), the holding company of Ber- ordinary shares of RM1.00 each amounting Kama and liquefied natural gas in Australia is
jaya Media (BMedia), announced that BCorp to RM32,530,795. announce also picking up, he added.
the income KNM which has a 3% share of the
distribution world’s process equipment market, ex-

ASN announces 6.30 sen per unit for ASD for ASD at
Menara PNB
yesterday.
pects a bigger revenue contribution from
its overseas operations.
Currently its overseas business con-
KUALA LUMPUR: Amanah Saham Na- tributes 70% while the domestic opera-
sional Bhd yesterday announced a lower tions contribute the rest.
income distribution of 6.30 sen per unit KNM’s focus for this year would be
for its Amanah Saham Didik (ASD) for moving up the value chain in order to
the financial year ending June 30, 2009. have products with stronger margin and
Permodalan Nasional Bhd (PNB) less competition, he said.
chairman Tun Ahmad Sarji Abdul Ha- It would also continue to look at op-
mid said the income distribution would portunities for merger and acquisition, he
involve a total payment of RM156.82 said, adding that such moves must add
million. value in terms of earnings and opportuni-
It will benefit 224,729 unit holders ties to move up the value chain, add new
who collectively own 2.83 billion units products and look at new geographical
of ASD. areas that could be a niche market with
Announcing the income distribution strong demand.
here, Ahmad Sarji said it had been a Asked on the group’s order book, Lee
challenging year due to the global invest- said that it “will not be as big as the last
ment environment, which was severely quarter because of the slowdown in the
affected by the financial crisis. market... but still sizeable.”
“Our prudent financial strategy has The group will make an announce-
enabled the ASD to provide competitive ment after consolidating all figures from
returns for its unit holders,” he told a its subsidiaries and a analysts briefing
press conference here yesterday. next week.
As of June 19, ASD recorded a gross KNM, with an order book of RM3.9
income of RM185.94 million. billion as at March, won about RM300
Of this amount, the profit from the million of orders between December and
sale of investments contributed RM80.26 January.
BERNAMAPIX

million or 43.16% while dividend income The company’s balance sheet is


from investors contributed RM88.68 mil- healthy with a net gearing of 0.6 time
lion with the remaining income of RM17 after considering cash balances of RM400
million, derived from investments in million to RM500 million. – Bernama
short term instruments.
Commenting on the lower income dis-
tribution, PNB president and group chief
executive Tan Sri Hamad Kama Piah Che
Othman said as the fund manager, it had
KTB suffers 20% drop in demand
KUALA LUMPUR: Konsortium Transnasional Nadzmi said he prefers that the government seriously the current stage or city bus situation.
the capacity to pay up to 9.7 sen.
He added that the declared income Berhad (KTB) suffered a 20% drop in demand for increase bus fares on an annual basis of between “The government should look at what other
distribution is however reasonable due its services from April this year, its chairman and 5% to 7%. countries such as Australia and Indonesia have
to the uncertain economic conditions. managing director, Datuk Mohd Nadzmi Mohd “A minimal but annual increase will give the done to save the industry. There, the government
For the financial year ended June 30, Salleh said. public a chance to adapt to the new price slowly,” pays the bus operators based on mileage.
2008, ASNB declared a seven sen per unit “The sudden imposition of the 30% surcharge he added. “The government cannot be a part of the busi-
distribution for unit holders of the ASD. on bus fares in September last year is a reason He also said that the outbreak of the influenza ness. I’d like to see this kind of policy change as it
PNB owns Amanah Saham Nasional, behind this decline. The public are shocked by the A (H1N1) also did not help the industry as demand is affecting the bus operators,” he said.
the manager of the ASD. surcharge and travel less by bus now,” he said after for the Singapore route had decreased by 40%. The stage bus operation contributes only one
All transactions for ASD at the ASNB the KTB annual general meeting here yesterday. Nadzmi also urged the government to consider third of KTB’s revenue. – Bernama
offices and its agents will be suspended
from June 24-30 to facilitate the calcula-
tion of income distribution.
Meanwhile, on the additional Amanah
Saham Malaysia (ASM) units offered
AirAsia removes administration charges
recently, Hamad Kama said the Indian KUALA LUMPUR: Low-cost carriers, AirAsia RM250 million in Malaysia. food and hotel via increase in passengers.
quota of 500 million units had almost and AirAsia X, have removed administration “We want to be more proactive. The best “We posted a record profit of RM220 million
been taken up. charges effective midnight yesterday, enabling way to get people to fly is through high quality in the first quarter when we removed fuel sur-
“About 485 million units have been travellers to save up to RM30 and RM42 respec- products and lower fares,” he said at the launch charge. We feel the same way this time (about
taken up so far. Besides that, 145 million tively. of AirAsia’s Major Tariff Adjustment here yes- removing administration charges),” he said.
units are available for other races,” he AirAsia group chief executive officer, Datuk terday. Fernandes hoped that airports worldwide
added. Seri Tony Fernandes, said the move would lower The administration charges are between would be able to reduce charges to further en-
In April, the fund manager offered the fares and boost passenger volume during the RM22.50 and RM43.50 for one-way travel. courage air travel. He said the RM6 airport tax
3.33 billion new units of ASM and two present difficult times. Fernandes said he was confident the move for domestic flight was all right, but the RM51 for
billion Amanah Saham Wawasan 2020 He said the group was also expected to lose would not hurt the group’s profitability as it international flight at the low-cost carrier termi-
units. – Bernama revenue of about RM400 million regionally and would be bolstered by ancillary businesses like nal should be reduced to RM10. – Bernama