PETALING JAYA: Hong Leong Financial Group Bhd (HLFG) posted a RM133.3 million net profit in its third financial quarter (3Q) ended March 31, 2008, an increase of 30% compared to the previous corresponding quarter. 3QFY08 revenue was up 16% to RM575.4 million.

Meanwhile, for the nine-month period, group net profit increased 30% to RM404.23 million or 39 sen a share, while revenue rose 16% to RM1.66 billion.

In a statement to Bursa Malaysia yesterday, HLFG attributed its stronger 3Q results to higher contribution from its 63.5%-owned banking unit Hong Leong Bank Bhd (HLB).

HLB registered RM205.7 million in net profit for 3QFY08, which increased 39% compared to the previous corresponding quarter. This was driven by higher net income that increased RM83 million coupled with lower loan loss provision.

HLB’s gross loans grew 6.9%, while gross non-performing loans (NPL) ratio and net NPL ratio decreased to 2.8% and 1.5% respectively in 3QFY08. Meanwhile, its return on shareholders’ fund on an annualised basis rose to 16.9%, compared to 13.8% as reported for FY2007.
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HONG LEONG BANK BHD (HLB) (KLSE:5819) has posted pre-tax profit of RM825.730 million (US$258 million) for the nine months ended 31 March 2008, up 34.3 per cent from RM614.894 million a year earlier on the back of a growing loan base, strong non-interest income and effective cost of funds management. Revenue for the period climbed 17.1 per cent to RM1.53 billion from RM1.31 billion previously, the nation’s sixth largest lender by assets said in filing to Bursa Malaysia on April 29.

* Earnings per share increased to 41.94 sen from 30.57 sen a year earlier.

* For the third quarter, Hong Leong Bank booked pre-tax profit of RM276.94 million, up 35.7 per cent from RM204.062 million previously.

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KUALA LUMPUR: Selling of KL Kepong, Sime and IJM dragged the KL Composite Index into the red in the morning session on Wednesday, making the Bursa Malaysia the worst performer among Asian markets.

At 12.30pm, the KLCI had fallen 4.97 points or 0.39% to 1,278.68 while the FBM Emas slid 42.12 points to 8,607.45 while the FBM Second Board lost 42.93 points to 5,843.6.

Turnover was 252.77 million shares valued at RM511mil. There were 156 gainers, 344 losers while 226 counters unchanged. Another 708 counters were untraded.
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KUALA LUMPUR: Stock prices on Bursa Malaysia fell on Wednesday, on profit-taking activities and as investors turned cautious ahead of the Federal Reserve’s decision on interest rates and a number of other key US economic data out later in the week, including April jobless data and first quarter GDP.

The KLCI declined 3.8 points to 1,279.9 points. Market breadth was negative for much of the day, but evened out at the close. Volume increased marginally from 540 to 563 million shares.

Media Chinese International was the most actively traded stock. Its stock fell 20% to 87.5 sen on volume of 36.7 million shares. The company is the entity for the merger between Sin Chew Media Corp, Nanyang Press Holdings and Ming Pao Enterprise Corp of Hong Kong. Other actively traded stocks include TM and TM International, MRCB, Equine, Gamuda and IOI Corp.

Major gainers include BAT, Shell and Media Prima. Losers include IJM and plantation stocks like KL Kepong, Sime Darby and IOI Corp.
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Kuala Lumpur (ANTARA News/Asia Pulse) - Carlsberg Brewery Malaysia Berhad (KLSE:2836) has posted a 151.2 per cent jump in first quarter pre-tax profit, pushed by brisk domestic sales, particularly in the Chinese New Year festive period.

Profit for the three months ended 31 March 2008 climbed to RM35.491 million (US$11.1 million) from RM14.126 million for the previous corresponding period.

Revenue rose 14.4 per cent to RM289.433 million from RM252.990 million previously, the brewer said in a filing to Bursa Malaysia on April 25. Earnings per share surged to 8.67 sen from 3.48 sen a year earlier.

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KUALA LUMPUR (Thomson Financial) - Malaysian shares closed higher on Monday as plantation heavyweights gained on the continued strength of crude oil prices.

But newly-listed mobile phone company TM International slumped on its debut due to stretched valuations, limiting the overall index rise. The stock dropped 3.8 percent to 7.55 ringgit.

The Kuala Lumpur Composite Index (KLCI) closed up 7.23 points or 0.6 percent at 1,295.31.
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Kuala Lumpur (ANTARA News/Asia Pulse) - Nestle (Malaysia) Berhad (KLSE:4707) has posted a 33.3 per cent jump in first quarter pre-tax profit despite the ongoing surge in the prices of major raw materials.

Its pre-tax profit rose to RM124.758 million (US$39 million) for the three months ended 31 March 2008 against RM93.625 million for the previous corresponding period.

The higher profit was struck on the back of a 9.9 per cent increase in revenue to RM927.688 million from RM844.450 million a year earlier, the leading food and beverage manufacturer said in a filing to Bursa Malaysia on April 23. Earnings per share climbed to 40.23 sen from 29.78 sen previously.

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KUALA LUMPUR (Thomson Financial) - Malaysian shares closed higher Wednesday on heightened buying interest in commodity stocks after world oil prices edged closer to $120 a barrel overnight.

A bullish performance by Telekom Malaysia (TM) ahead of the listing of its overseas and cellphone business next week further boosted the key index.

TM jumped 16.1 percent to 3.54 ringgit from its new reference price of 3.05 ringgit which took effect Wednesday.
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KUALA LUMPUR: Blue chips ended the morning session on Monday firmer on fund buying of blue chips, with heavyweight Sime Darby hitting a five-week high of RM10 as the KL Composite Index advanced 1.14%.

Asian markets also rallied, notching gains of between 1.75% and 2.49%, as investors’ sentiment was boosted by the strong close on Wall Street last week, ignoring the record high price of US$117 (RM367.61) earlier.

At 12.30pm, the KLCI had risen 14.43 points to 1,2282.08, the FBM Emas added 97.46 points to 8,640.49 and the FBM Second Board rose 24.6 points to 5,855.81.

Turnover was 382.98 million shares valued at RM741.29. There were 410 gainers, 191 losers while 202 counters were unchanged.
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MAIN BOARD

THE Kuala Lumpur Composite Index (KLCI) started the week lower and then rebounded on moderately active trading and finished the week at a seven-week high.

The KLCI recovered from a weekly low of 1,230.62 points and made a weekly high at 1,267.65 points and then closed the week higher at 1,246.65 points, up 20.86 points or 1.67% from previously.

Strength in some of the main index linked stocks help lift the index last week.

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