Whistleblowing
Call Us
+60 6 – 282 3700
Our Location
6th Floor, No. 61, Jalan Melaka Raya 8,
Taman Melaka Raya, 75000 Melaka, Malaysia.
Whistleblowing
Call Us
+60 6 – 282 3700
Our Location
6th Floor, No. 61, Jalan Melaka Raya 8,
Taman Melaka Raya, 75000 Melaka, Malaysia.
June 2024
UMCCA’s FY24 results beat expectations on a bumper 4QFY24. Its FY24 core net profit eased 3% YoY as higher production was offset by lower CPO prices. Its FY25 earnings outlook is positive underpinned by firm CPO prices, easier cost and growing Indonesian FFB harvest. We raise our FY25F core net profit forecasts by 3% and maintain our TP of RM6.00 and OUTPERFORM call.
December 2023
UWC Bhd’s net profit dropped 85.1% to RM4.4m in the first quarter ended Oct 31, 2023 (1QFY2024) from RM29.3m a year earlier, due to lower revenue. Earnings per share fell to 0.4 sen from 2.7 sen. Quarterly revenue declined 51% to RM45.5m from RM92.1m, which the group blamed on the impact of macroeconomic headwinds especially the semiconductor market cyclical downturn. On a quarter-on-quarter basis, the group’s net profit came in higher compared with RM1.9m in 4QFY2023 as revenue climbed 13.7% from RM40.0m. (The Edge Markets)
December 2023
UMCCA’s 1HFY24 results disappointed us (but met market expectation) as its production and the easing in cost fell short of our expectation. We cut our FY24-25F net profit forecasts by 14% and 3%, respectively, but maintain our TP of RM5.00 and MARKET PERFORM call.
September 2023
UMCCA’s 1QFY24 results disappointed as better harvest was more than offset by higher production cost and softer CPO prices realised. The same reasons contributed to a 74% YoY plunge in 1QFY24 core net profit. We cut our FY24-25F net profit by 15% and 18%, respectively, but maintain our asset-based TP of RM5.00 and MARKET PERFORM call.
September 2023
United Malacca Berhad’s (UMCCA) 1QFY24 results came in below expectations. After stripping out exceptional items, the core net profit decreased by 79.9% YoY to RM5.1mn on the back of an 18.8% fall in revenue. The weaker results were mainly due to lower palm oil prices and higher production costs. Higher FFB production was insufficient to offset losses in palm oil prices.
June 2023
United Malacca Berhad’s (UMCCA) 4QFY23 results came in below expectations. After stripping out exceptional items, the group recorded a core net loss of RM7.4mn in 4QFY23, compared to a core profit of RM34.2mn in the previous year. The weaker results were mainly due to lower palm oil prices and higher production costs.
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