Company Overview and News
Selling pressure on the local market gained strength following a slew of announcements by the government, from greater competition in the telecommunications sector to the termination of MMC Gamuda KVMRT (T) Sdn Bhd’s contract for the mass rapid transit Line 2 (MRT2) and introduction of new taxes.
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KUALA LUMPUR, Sept 25 — Berjaya Land Bhd’s (BLand) net profit jumped 43.8 per cent year-on-year to RM16.58 million for the first quarter ended July 31, 2018, on higher profit contribution from Sports Toto Malaysia Sdn Bhd (STMSB) as well as lower finance cost.
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Berjaya Sports Toto Bhd (Sept 20, RM2.30) Maintain neutral with an unchanged target price (TP) of RM2.62: Berjaya Sports Toto Bhd (BToto) reported a 16.9% increase in its net profit for the first quarter of financial year 2019 (1QFY19) to RM86.9 million, mainly due to higher contribution from Malaysia’s number forecasting operations on lower prize payout ratio. The results accounted for 31% of our and consensus full-year estimates.
KUALA LUMPUR (Sept 20): Berjaya Sports Toto Bhd's (BToto) core net profit for its first financial quarter ended July 31, 2018 (1QFY19) which rose 27.6% year-on-year (y-o-y) at RM87.7 million was above CIMB Research’s forecast, as it represented 32% of house full-year forecast but was at 20% of Bloomberg consensus estimate.
The group’s core business is in the numbers forecast operation (NFO), which includes toto betting and other related ancillary businesses. The group also has strategic investments in auto retailing and the provision of after-sales services and the hospitality sector.
KUALA LUMPUR (Sep 19): Based on corporate announcements and news flow today, stocks in focus for Thursday (Sep 20) may include the following: Axiata Group Bhd, HB Global Ltd, Glomac Bhd, Berjaya Sports Toto Bhd, Eduspec Holdings Bhd, PanPages Bhd, Kim Teck Cheong Consolidated Bhd and Salcon Bhd.
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KUALA LUMPUR (Sept 19): Berjaya Sports Toto Bhd (BToto) posted a 16.92% jump in net profit to RM86.89 million in the first financial quarter ended July 31, 2018 (1QFY19) from RM47.94 million a year ago, on the improved performance of Sports Toto Malaysia Sdn Bhd (Sports Toto) and H.R. Owen Plc.
Berjaya Sports Toto Bhd (Sept 6, RM2.27) Downgrade to hold with a lower target price of RM2.26: Berjaya Sports Toto’s (BToto) 88.3%-owned subsidiary, Berjaya Philippines (BP), which is listed on the Philippine Stock Exchange, acquired 6.5 million shares of Bursa Malaysia-listed 7-Eleven Malaysia Holdings Bhd from March 1 to Sept 3, 2018 in the open market, for RM9.61 million.
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Magnum Bhd (Aug 27, RM1.98) Maintain hold with an unchanged target price (TP) of RM2.18: Magnum Bhd’s second quarter ended June 2018 (2QFY18) core net profit clocked in at RM48.1 million, down 19.8% year-on-year (y-o-y).
Number forecast operators (NFOs) Maintain hold: Finance Minister Lim Guan Eng has stated that the government plans to reduce the number of special draws for all number forecast operators (NFOs) beginning 2019. The quantum of reduction was not revealed, although he said the new policy would be announced in Budget 2019 on Nov 2.
“We estimate that every one less special draw will trim our estimates on Berjaya Sports’ and Magnum’s earnings per share (EPS) by only 0.3%,” Maybank IB Research said.
KUALA LUMPUR (Aug 1): Berjaya Sports Toto Bhd (BToto) has appointed Tan Sri Tan Kok Ping as non-independent and non-executive chairman of the group effective immediately, replacing Cheah Tek Kuang who has resigned.
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2018-10-01 - Asif
Overview The following discussion and analysis should be read in conjunction with its unaudited interim condensed consolidated financial statements and the related notes that appear elsewhere in this quarterly report on Form 10-Q. This discussion contains forward-looking statements reflecting its current expectations that involve risks and uncertainties. Actual results may differ materially from those discussed in these forward-looking statements due to a number of factors, including those set forth in the section entitled “Risk Factors” in its most recent annual report on Form 10-K. For further information regarding forward-looking statements, please refer to the “Special Note Regarding Forward-Looking Statements and Projections” immediately after the index to this quarterly report on Form 10-Q. Alimera Sciences, Inc., and its subsidiaries (we or Alimera), is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharma...
2018-09-25 - Asif
Background DelMar Pharmaceuticals, Inc. is a clinical stage drug development company with a focus on the treatment of cancer. The company's mission is to benefit patients and create shareholder value by developing and commercializing anti-cancer therapies for patients whose tumors exhibit features that make them resistant to, or unlikely to respond to, currently available therapies, particularly for orphan cancer indications where patients have failed, or are unlikely to respond to, currently available therapy. DelMar Pharmaceuticals is developing VAL-083, a novel, DNA-targeting agent, for the treatment of glioblastoma multiforme (“GBM”) and potentially other solid tumors, including ovarian cancer. VAL-083 is a first-in-class, DNA-targeting chemotherapeutic that demonstrated activity against a range of tumor types in prior Phase 1 and Phase 2 clinical studies sponsored by the US National Cancer Institute (“NCI”). The company's recent research has highlighted the opportunit...
2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...