theSun

| THURSDAY NOVEMBER 27 2008

21
Hang Seng

business news
RHB Capital’s net profit up 58%
KUALA LUMPUR: RHB Capital Berhad recorded a profit before taxation of RM1,160.5 million for the nine months ended Sept 30, 2008, up 33% when compared to RM870.8 million recorded in the previous year corresponding period. The strong overall financial performance was attributed to continued growth in net interest income and lower loan loss allowances as bad debt recoveries improved. Net profit rose by 58% or RM312.1 million to RM851.8 million compared with the same period in 2007. The repurchase of the minority interest in RHB Bank Berhad in July last year provided the additional boost to the net profits of the group. Net interest income increased by 6% or RM88.5 million to RM1,644.1 million for the first nine months of 2008 on the back of a healthy 10.2% increase in loans and advances. Income from the Islamic Banking business was lower at RM200.4 million for the nine months period, a decline of RM38.1 million or 16% as compared to RM238.5 million recorded in the same period of 2007. The decline was due to a one-off capital market transaction gain recorded in 2007 of RM70 million. Excluding the one-off capital market gain recorded in 2007, the group’s Islamic Banking business grew by approximately 19%. For the quarter ended Sept 30, 2008, the group recorded a profit before taxation of RM488.7 million, 35% higher as compared to RM361.9 million recorded in the preceding quarter ended June 30, 2008.

13,369.45

S&P/ASX200

490.85

3,540

83.4

4,271.80

TSEC

856.37

KLCI

5.31

3.81

1,711.13

STI

57.88

1,029.78

KOSPI

46.46

8,213.22

Nikkei

110.71

Pensonic posts 6.5% growth despite slowdown
by Opalyn Mok
newsdesk@thesundaily.com

KL market summary
INDICES FBMEMAS COMPOSITE INDUSTRIAL CONSUMER PROD INDUSTRIAL PROD CONSTRUCTION TRADING/SERVICES FINANCE PROPERTIES PLANTATIONS MINING FBMSHA FBM2BRD TECHNOLOGY TURNOVER 363.041mil 5,629.99 856.37 2,052.52 274.89 67.25 152.66 119.88 6,532.62 508.81 3,761.46 255.33 5,815.13 4,009.27 13.11

NOVEMBER 26, 2008 CHANGE -34.70 -3.81 -13.79 -0.49 -0.20 UNCH -0.39 -71.01 -5.21 +23.27 UNCH -34.14 -294.93 +0.04 VALUE RM598.272mil

GEORGE TOWN: The Pensonic Group posted a 6.5% growth in revenue for the financial year ended May 31, 2008, chalking up RM321.6 million compared with RM302.1 million for the previous year. It recorded a net profit of RM1.1 million on the back of 1.9% and 18.9% increases in domestic and export market segment turnover respectively for the year ended May 31, 2008 compared with the preceding year. Group managing director and chief executive officer Dixon Chew said the positive growth was achieved despite the economic downturn. “This shows that the group has a solid and stable base of income from the rising usage and acceptance of Pensonic brand products among consumers,” he said at the Pensonic Holdings Bhd’s annual general meeting. He said Pensonic has moved

forward with a more diversified business portfolio, covering a wider product range and more countries to minimise business risk. “In fact, we have ventured into two new ranges of product, personal robotics and energy saving lamps,” he said. Chew said the group introduced its first robotics product, “Pleo-the dinosaur”, to the domestic market on Monday in Kuala Lumpur. “Pleo was designed by Ugobe to replicate the character of a baby Camarasaurus, a dinosaur,” he said. Pensonic has the exclusive right to distribute the high-profile product in five countries, Malaysia, the Philippines, Indonesia, Singapore and Thailand. Pleo, which weighs 1.58kg and stands at 19.5cm and comes in only one colour, green, is being sold at RM1,699 per unit. The group forecasts that the revenue contribution from this product may hit RM10 million for the financial year 2009.

The group has also introduced the compact fluorescent lamp which saves up to 80% in energy consumption. “The item contributed RM600,000 in sales for the last quarter and it is forecast that its sales will reach RM3 million for this financial year,” Chew said. He said the group is consolidating and streamlining its product range by promoting products with higher profit margins. “We also successfully increase the selling prices of our electrical appliances to commensurate with the enhancement in quality and brand value since the first quarter of this current financial year,” he said. As a result, the group’s domestic sales for the first quarter ended Aug 31, 2008 hit RM55.8 million, which was an increase of 25% compared to RM44.6 million in the same period last year. The Pensonic group declared a final dividend of RM1.25 per share less tax for the financial year ended May 31, 2008.

Prices end lower
BURSA Malaysia ended lower yesterday, led by the fall in the finance and property indices, dealers said. They said the fall was, however, capped by mild gains in the plantation stocks. A dealer said the lacklustre market was also dampened by the overnight mixed performance on Wall Street. The benchmark KLCI fell 3.81 points to close at 856.37. OSK Research, in its report, said given the lack of positive news, it expected the market to stay range-bound. Ramunia declined 69 sen to 61 sen after MISC decided to abort the reverse takeover. MISC shares, however, added 15 sen to RM8.40. – Bernama

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