Trading ideas: BAuto, George Kent, JcbNext, CHHB, Thong Guan, BLand, UEM Edgenta
BAuto's net profit for the financial year ended April 30, 2025 (FY2025) dropped by over 55% to RM155.9mil from RM345.58mil a year earlier, as revenue fell to RM2.62bil from RM3.91bil, mainly due to lower sales volume from its Mazda and Kia domestic operations.
George Kent has partnered with Shanghai-listed Qingdao Topscomm Communication Co Ltd (Topscomm) to develop Malaysia's first locally branded ultrasonic water meter.
JcbNext has disposed of 647,846 shares (or 1.95%) in Taiwan-based 104 Corp for RM20.05mil in the open market of the Taiwan Stock Exchange.
CHHB is disposing of its entire stake in its wholly-owned subsidiary, Versatile Champion Sdn Bhd (VCSB) to South Strategy International Sdn Bhd for RM600,000.
Thong Guan has scrapped its plan to sell its F&B business to major shareholder Foremost Equals after failing to agree on a final sale price.
BLand is disposing of its entire 80% stake in joint venture company, Berjaya-Handico12 Co Ltd (BHandico12), to Vietnam-based Dong Thinh Phat Land JSC and Green Hill Construction Investment JSC for RM201.96mil.
UEM Edgenta has tied up with 21 Estates Group FZCO to establish a new joint venture company (JV) and expand its property management presence in Dubai, United Arab Emirates.
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New Straits Times
an hour ago
- New Straits Times
China embarks on world's largest hydropower dam, capital markets cheer
HONG KONG/SHANGHAI: China's Premier Li Qiang announced construction had begun on what will be the world's largest hydropower dam, on the eastern rim of the Tibetan Plateau, at an estimated cost of at least US$170 billion, the official Xinhua news agency said. Commencement of the hydropower project, China's most ambitious since the Three Gorges Dam on the Yangtze, was seized by Chinese markets as proof of economic stimulus, sending stock prices and bond yields higher on Monday. Made up of five cascade hydropower stations with the capacity to produce 300 billion kilowatt-hours of electricity annually – equal to the amount of electricity consumed by Britain last year – the dam will be located in the lower reaches of the Yarlung Zangbo. A section of the river tumbles 2,000 metres (6,561 feet) in a span of 50km (31 miles), offering huge hydropower potential. India and Bangladesh have already raised concerns about its possible impact on the millions of people downstream, while NGOs warned of the risk to one of the richest and most diverse environments on the plateau. Beijing has said the dam will help meet power demand in Tibet and the rest of China without having a major effect on downstream water supplies or the environment. Operations are expected sometime in the 2030s. China's CSI Construction & Engineering Index jumped as much as 4 per cent to a seven-month high. Power Construction Corporation of China and Arcplus Group PLC surged by their 10 per cent daily limit. "From an investment perspective, mature hydropower projects offer bond-like dividends," Wang Zhuo, partner of Shanghai Zhuozhu Investment Management said, while cautioning that speculative buying into related stocks would inflate valuations. The project will drive demand for construction and building materials such as cement and civil explosives, Huatai Securities said in a note to clients. Shares of Beijing-listed Hunan Wuxin Tunnel Intelligent Equipment Co, which sells tunnel construction equipment, surged 30 per cent. So did shares of Geokang Technologies Co Ltd, which makes intelligent monitoring terminals. Cement maker Xizang Tianlu Co Ltd and Tibet GaoZheng Explosive Co, producer of civil explosive materials, both jumped their maximum 10 per cent. Broader impact The Chinese premier described the dam as a "project of the century" and said special emphasis "must be placed on ecological conservation to prevent environmental damage," Xinhua said on Saturday. Government bond yields rose across the board on Monday, with the most-traded 30-year treasury futures falling to five-week lows, as investors interpreted the news as part of China's economic stimulus. The project, overseen by the newly formed state-owned China Yajiang Group, marks a major boost in public investment to help bolster economic growth as current drivers show signs of faltering. "Assuming 10 years of construction, the investment/GDP boost could reach 120 billion yuan (US$16.7 billion) for a single year," said Citi in a note. "The actual economic benefits could go beyond that." China has not given an estimate on the number of jobs the project could create. The Three Gorges, which took almost two decades to complete, generated nearly a million jobs, state media reported, though it displaced at least a similar number of people. Authorities have not indicated how many people would be displaced by the Yarlung Zangbo project. The Yarlung Zangbo becomes the Brahmaputra River as it leaves Tibet and flows south into India and finally into Bangladesh. NGOs say the dam will irreversibly harm the Tibetan Plateau and hit millions of people downstream. The chief minister of Arunachal Pradesh, Pema Khandu, said earlier this year that such a colossal dam barely 50km from the border could dry out 80 per cent of the river passing through the Indian state while potentially inundating downstream areas in Arunachal and neighbouring Assam state. Some experts also express concerns for a project in a seismically active zone.
The Star
2 hours ago
- The Star
Alaska Airlines grounds all flights after IT outage disrupts systems
FILE PHOTO: Alaska Airlines commercial airplanes are shown parked off to the side of the airport in San Diego, California, U.S. January 18, 2024. REUTERS/Mike Blake/ File Photo (Reuters) -U.S. carrier Alaska Airlines grounded its flights after an IT outage on Sunday that affected its systems, the company said, without specifying the nature of the outage, marking the second time it has grounded its fleet in just over a year. "At approximately 8 p.m. Pacific on Sunday (0300 GMT on Monday), Alaska Airlines experienced an IT outage that's impacting our operations. We requested a temporary, system-wide ground stop for Alaska and Horizon Air flights," Alaska said in an emailed statement to Reuters on Sunday evening. The Seattle-based airline said there would be residual impacts to its operations throughout the evening, without providing more details. The FAA did not immediately respond to Reuters' requests for comment outside regular business hours. The FAA status page showed all destinations affected by the ground stop of Alaska's mainline aircraft, and the suspension of Horizon's operations. In April 2024, Alaska grounded its entire fleet due to an issue with the system that calculates the weight and balance of its planes, just a few months after a door panel on an Alaska Airlines-operated Boeing 737 MAX 9 jet blew off midair. Alaska Air Group maintains an operational fleet of 238 Boeing 737 aircraft, and 87 Embraer 175 aircraft, according to its website. In June, Alaska Air Group-owned Hawaiian Airlines said some of its IT systems were disrupted by a hack. Alaska Air Group said it was still determining the financial impact of that event. The news of Alaska's IT issues comes at a time when tech companies Google and Palo Alto Networks have warned of the "Scattered Spider" hacking group's interest in the aviation sector. Canada's WestJet Airlines was struck by an unspecified cyber incident in June, while Australia's Qantas experienced a data breach in July where a cyber hacker accessed the personal information of millions of customers. It remains unclear whether Alaska's outage is related to Microsoft stating on Sunday that there were "active attacks" on its server software used by government agencies and businesses. Alaska did not immediately respond to a request seeking comment on whether the outage was related to the Microsoft announcement. (Reporting by Gursimran Kaur and Shivani Tanna in Bengaluru; Editing by Rashmi Aich, Jamie Freed and Kate Mayberry)
BusinessToday
2 hours ago
- BusinessToday
Refuelling Sarawak's Growth
Sarawak is fast positioning itself as Malaysia's clean energy powerhouse with bold plans to quadruple power generation to 15GW by 2035. A recent field trip by CIMB Research to the state revealed that major shifts are underway — not just in energy, but also in infrastructure, digitalisation, and industrial expansion — aligned with Sarawak's Post COVID-19 Development Strategy 2030 (PCDS 2030). CIMB analysts identified key beneficiaries of the state's growth plans ahead of its next election, due by April 2027. Infrastructure giants like Gamuda and IJM, as well as Sarawak-based names Cahya Mata, Ibraco, Solarvest, CCK, and Supreme Consolidated, are all poised to ride the wave of development. A Green Leap Forward Sarawak's clean energy agenda is being driven by a pivot away from mega dams toward cascading hydro, floating solar, pumped hydro, and integrated hydro-solar projects. Its landmark hydrogen programmes, H2ornbill and H2biscus, aim to generate over 240,000 tonnes of hydrogen annually by 2029, with exports targeted at Japan and South Korea. The state's strategic shift includes deprioritising coal and rare earth mining, while doubling down on green cement, silica-based solar glass, and biofuels. Major infrastructure upgrades, including a RM4 billion water grid, are also underway to support these ambitions. Industrial Parks and Transport Mega-Projects Sarawak plans to construct 10 new industrial parks and 6 agro-parks, alongside the expansion of existing industrial hubs such as Samalaju Industrial Park (SIP) and Petchem Industrial Park in Kidurong. With strong demand, only 12% of land at SIP remains available, despite already attracting RM57 billion in investments. Infrastructure development is also intensifying. The state is pursuing transformative projects such as a new airport and deep seaport in Kuching, the Lawas Airport and port complex, and major road, water, and utility upgrades. The Kuching Urban Transportation System (KUTS), featuring hydrogen-powered Autonomous Rapid Transit (ART), is a headline initiative under Sarawak Metro, expected to begin operations in 2028. Phase 1 of KUTS, valued at over RM6 billion, will span 70km across 28 stations. Hydrogen fuel cell vehicles will be supported by a purpose-built depot in Rembus, and a RM122 million contract for 55 feeder buses has already been awarded. Strategic Investment and Clean Energy Partnerships Sarawak's investment agency, InvestSarawak, operating under MINTRED, has been actively securing green investments. A notable development was the signing of an MoU with China's CRE International in 2024 to explore USD1.5 billion (RM6.4 billion) worth of solar, wind, and energy storage projects with a capacity target of 2GW. MINTRED has also launched ENBASE, a digital platform to support entrepreneurial development, and is spearheading efforts to attract investments in semiconductors, medical devices, and green hydrogen. Deputy Premier Datuk Amar Awang Tengah Ali Hassan recently led a trade mission to France, engaging with private equity firm Ardian on high-tech sector opportunities. SCORE and the Corridor Vision Driving long-term industrialisation is the Sarawak Corridor of Renewable Energy (SCORE), which spans 80% of the state. Managed by RECODA, SCORE has already secured RM127 billion in approved investments across 464 projects, mainly in energy-intensive sectors. RECODA also oversees over 250 infrastructure projects and administers social programmes focused on poverty reduction, workforce upskilling, and rural development. Its regional development arms — URDA, HDA, and NRDA — have tailored master plans to ensure inclusive and area-specific progress. Election-Led Re-Rating Opportunities With the next Sarawak state election expected before April 2027, CIMB foresees a potential re-rating of Sarawak-linked stocks, particularly in infrastructure and consumer sectors. Companies like Gamuda and IJM are favoured for their involvement in road and public transport contracts, while Cahya Mata, Ibraco, Solarvest, CCK, and Supreme stand to benefit from surging state-level economic activity. However, risks remain. These include funding and talent constraints, rising competition from foreign contractors, and the still-limited participation of public-listed players in large hydrogen or hydroelectric ventures. Looking ahead, Sarawak's clear policy direction reinforces the state's vision to become a high-income and developed state by 2030. With a record-high RM15.8 billion budget for 2025 and 70% allocated to development, the transformation is not just aspirational — it's already underway. Related
