Trading ideas: Maybank, Velesto, Duopharma, IHH, Malakoff, EcoWorld, SCable, MBSB, Kimlun, Sapura Industral, Eversendai, SunCon, PetChem, Aeon, TSH, MyEG
Malayan Banking Bhd said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants, supporting national efforts to attract global talent and long-term foreign residents.
Velesto Energy Bhd has secured a drilling contract from Phu Quoc Petroleum Operating Company in Vietnam involving more than 40 wells, with operations expected to begin in the first half of 2026.
Duopharma Biotech Bhd 's wholly-owned subsidiary Duopharma Marketing Sdn Bhd and India Biocon Ltd's local unit Biocon Sdn Bhd have secured a six-month contract extension from the Ministry of Health for the supply of insulin to public hospitals.
IHH Healthcare Bhd 's indirect subsidiary, Northern TK Venture Pte Ltd, has increased the damages it is seeking from Daiichi Sankyo Co Ltd to about JPY200bn (RM5.7bn).
Malakoff Corporation Bhd 's subsidiary, Malakoff Radiance Sdn Bhd, has signed a second solar power purchase agreement (4.22 MWp) with HICOM Automotive Manufacturers (Malaysia) Sdn Bhd to expand its renewable energy footprint.
Eco World Development Group Bhd , SD Guthrie Bhd (previously Sime Darby Plantation Bhd , and NS Corporation Sdn Bhd have formalised a shareholders agreement yesterday to launch the development of Eco Business Park 7 in Negeri Sembilan.
Sarawak Cable Bhd will be de-listed from Bursa Malaysia on May 30, unless it files an appeal by May 27.
MBSB Bhd has announced a RM1bn financing facility to accelerate the growth of Malaysia's aerospace sector.
Astaka Holdings Limited, together with its JV partner Kimlun Corp Bhd has commenced construction of Arden, a premium serviced residence under Phase 3 of One Bukit Senyum, the group's flagship development in Johor Bahru.
Sapura Industrial Bhd has teamed up with a China-based firm to establish a precision component manufacturing plant in Malaysia with an initial investment of RM18mn.
Eversendai Corporation Bhd has clinched three significant new contracts in the United Arab Emirates, India, and Singapore worth a combined RM1.3bn, pushing its total outstanding order book to RM6.6bn.
Sunway Construction Group Bhd 's net profit for 1QFY25 surged to RM75.7mn, up from RM32.4mn in the same period last year as revenue climbed 132% YoY to RM1.4bn.
Petronas Chemicals Group Bhd reported a net loss of RM18mn for 1QFY25 on lower sales margins, supply problems at Pengerang Petrochemicals Company Sdn Bhd, foreign exchange losses and rising costs.
Aeon Co (M) Bhd's net profit for 1QFY25 rose 18% to RM68.1mn from RM57.4mn a year earlier, supported by seasonal spending uplift from the double festive celebrations within the quarter.
TSH Resources Bhd 's 1QFY25 net profit surged 140% YoY to RM48.2mn, thanks to higher palm product prices and improved segmental contribution, coupled with lower finance costs.
MyEG Services Bhd net profit for 1QFY25 rose to RM181.6mn from RM155.9mn in the previous corresponding quarter, due to contributions from web3 application service fees on the Zetrix blockchain platform and contributions from the sale of Zetrix tokens.
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New Straits Times
13 hours ago
- New Straits Times
Velesto set for stronger 2H25 as rig utilisation rises
KUALA LUMPUR: Velesto Energy Bhd is poised for stronger earnings visibility for the remainder of the year as five out of its six jack-up drilling rigs have secured contracts, according to Maybank Investment Bank (Maybank IB). The firm raised its financial year 2025 (FY25) earnings forecast by three per cent to account for a higher blended utilisation rate assumption of 72 per cent since the Naga 5 rig started work one month earlier than scheduled. While second quarter (2Q25) results may be weaker on a quarterly basis due to scheduled maintenance for two rigs and slightly lower average daily charter rates (DCRs), Maybank IB expects earnings to be backloaded in the second half. The firm projects a strong recovery with utilisation rates at 83 per cent for both the third and fourth quarters. Maybank IB said Velesto's earnings peaked in FY24 in line with the local oil and gas services and equipment sector cycle. "Earnings will likely decline annually, but the company should remain comfortably profitable. Despite lower DCRs from the peak, its rigs are well-utilised, providing Velesto with cash flow comfort," it said. As at end-March 2025, due to strong operating cash flows from its drilling operations, Velesto's net cash position grew by 60 per cent on a quarterly basis to RM104.7 million. This represents about seven per cent of Velesto's current market capitalisation. "With a healthier balance sheet ahead, we raise our dividend payout ratio assumption to 100 per cent from 70 per cent previously, translating into a dividend per share of 2.1 sen and an attractive yield of over 11 per cent," Maybank IB added. The firm said Velesto's drilling operations also benefit from a natural hedge against foreign exchange fluctuations as about 70 per cent of its operating and capital expenditures are denominated in US dollars. Maybank IB kept its "Buy" call on Velesto with a target price of 18 sen.
Malay Mail
3 days ago
- Malay Mail
Bursa slips 0.73pc at midday as investors trim positions ahead of weekend
KUALA LUMPUR, July 25 — Bursa Malaysia finished the morning session in the red, losing 0.73 per cent as cautious sentiment prompted portfolio adjustment ahead of the weekend. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gave up 11.23 points to 1,529.09, compared to yesterday's close of 1,540.32. The benchmark index opened 1.60 points lower at 1,538.66 and moved between 1,525.98 to 1,539.82 throughout the morning session. Broader market sentiment was bearish, with losers edging past gainers 569 to 270, while 405 counters were unchanged, 1,282 untraded, and 44 suspended. Turnover stood at 2.02 billion units worth RM1.09 billion. In a research note, Malacca Securities Sdn Bhd observed a developing uptrend in select sectors, particularly those linked to utilities and data centre infrastructure. The brokerage also said investors may consider accumulating banking stocks for long-term positions, despite the recent overnight policy rate (OPR) cut, noting that the Bursa Malaysia Finance Index has retreated approximately 10 per cent from its year-to-date high. It identified Malayan Banking Bhd, AMMB Holdings Bhd, and RHB Bank Bhd as attractive picks due to their solid dividend yields. On the consumer front, Malacca Securities added that RM100 cash handouts and price controls on tolls and RON95 fuel are likely to boost short-term consumer spending, potentially benefiting retail-focused counters such as 99 SpeedMart, Ecoshop, and MR DIY. Among the heavyweights, Maybank down eight sen to RM9.55, Public Bank erased three sen to RM4.28, Tenaga Nasional declined 46 sen to RM13.80, CIMB rose four sen to RM6.74, IHH Healthcare and CelcomDigi were one sen better at RM6.60 and RM3.84, respectively. As for the actives, NexG and Velesto added one sen each to 52.5 sen and 19 sen, respectively. Lotte Chemical eased half a sen to 70 sen, while Zetrix and Focus Dynamics were flat at 91.5 sen and one sen, respectively. Across the broader market, the FBM Emas Index dropped 68.58 points to 11,482.59, the FBMT 100 Index slipped 69.61 points to 11,244.95, and the FBM Emas Shariah Index declined 79.25 points to 11,244.95. The FBM 70 Index eased 46.06 points to 16,612.81, while the FBM ACE Index shed 18.58 points to 4,623.93. By sector, the Financial Services Index fell 58.67 points to 17,446.91, the Plantation Index lost 54.85 points to 7,415.11, and the Industrial Products and Services Index was 1.32 points lower at 156.84. The Energy Index, however, rose 3.05 points to 741.73. — Bernama
The Star
3 days ago
- The Star
Bursa slips 0.73% at midday as investors trim positions ahead of weekend
KUALA LUMPUR: Bursa Malaysia finished the morning session in the red, losing 0.73 per cent as cautious sentiment prompted portfolio adjustment ahead of the weekend. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gave up 11.23 points to 1,529.09, compared to yesterday's close of 1,540.32. The benchmark index opened 1.60 points lower at 1,538.66 and moved between 1,525.98 to 1,539.82 throughout the morning session. Broader market sentiment was bearish, with losers edging past gainers 569 to 270, while 405 counters were unchanged, 1,282 untraded, and 44 suspended. Turnover stood at 2.02 billion units worth RM1.09 billion. In a research note, Malacca Securities Sdn Bhd observed a developing uptrend in select sectors, particularly those linked to utilities and data centre infrastructure. The brokerage also said investors may consider accumulating banking stocks for long-term positions, despite the recent overnight policy rate (OPR) cut, noting that the Bursa Malaysia Finance Index has retreated approximately 10 per cent from its year-to-date high. It identified Malayan Banking Bhd , AMMB Holdings Bhd , and RHB Bank Bhd as attractive picks due to their solid dividend yields. On the consumer front, Malacca Securities added that RM100 cash handouts and price controls on tolls and RON95 fuel are likely to boost short-term consumer spending, potentially benefiting retail-focused counters such as 99 SpeedMart, Ecoshop, and MR DIY. Among the heavyweights, Maybank down eight sen to RM9.55, Public Bank erased three sen to RM4.28, Tenaga Nasional declined 46 sen to RM13.80, CIMB rose four sen to RM6.74, IHH Healthcare and CelcomDigi were one sen better at RM6.60 and RM3.84, respectively. As for the actives, NexG and Velesto added one sen each to 52.5 sen and 19 sen, respectively. Lotte Chemical eased half a sen to 70 sen, while Zetrix and Focus Dynamics were flat at 91.5 sen and one sen, respectively. Across the broader market, the FBM Emas Index dropped 68.58 points to 11,482.59, the FBMT 100 Index slipped 69.61 points to 11,244.95, and the FBM Emas Shariah Index declined 79.25 points to 11,244.95. The FBM 70 Index eased 46.06 points to 16,612.81, while the FBM ACE Index shed 18.58 points to 4,623.93. By sector, the Financial Services Index fell 58.67 points to 17,446.91, the Plantation Index lost 54.85 points to 7,415.11, and the Industrial Products and Services Index was 1.32 points lower at 156.84. The Energy Index, however, rose 3.05 points to 741.73. - Bernama
