Latest news with #NationgateHoldingsBhd
The Star
3 days ago
- Business
- The Star
NationGate clarifies MACC probe limited to non-major subsidiary
KUALA LUMPUR: Nationgate Holdings Bhd clarified that the investigation by the Malaysian Anti-Corruption Commission (MACC) is limited to its subsidiary NationGate Solution (M) Sdn Bhd. In a Bursa Malaysia filing today, the electronics manufacturing services company said that an order to inspect, search and seize under Section 31(1) of the Malaysian Anti-Corruption Commission Act 2009 from MACC was issued to NationGate Solution. "To our best knowledge, the raid does not involve any specific board members or senior management. "NationGate Solution is not a major subsidiary pursuant to the definition given in the Main Market Listing Requirements of Bursa Securities,' it said. It added that for the time being, the MACC raid is not expected to have significant financial and operational impact on the group. Previously, it is reported that MACC has raided the premises of NationGate Holdings' wholly owned subsidiary NationGate Solution as part of an ongoing investigation into allegations of scrap metal smuggling. - Bernama
The Star
4 days ago
- Business
- The Star
Trading ideas: NationGate, Zetrix, Malakoff, YNHP, T7, Luxchem, Tomypak, Master Tec, Scope, PetGas, MBSB, Elridge
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Nationgate Holdings Bhd said on Tuesday that the Malaysian Anti-Corruption Commission had raided the premises of its wholly owned subsidiary, NationGate Solution (M) Sdn Bhd, as part of an ongoing investigation into alleged scrap metal smuggling. Zetrix AI Bhd, formerly MyEG Services Bhd , said on Tuesday it will challenge Bursa Securities' public reprimand for breaking Main Market listing rules. Malakoff Corp Bhd is partnering with Evergreen Earth Sdn Bhd to explore investment opportunities in greenfield solar photovoltaic power plants and other renewable energy initiatives across Sarawak. YNH Property Bhd on Tuesday terminated a development agreement with Chin Hin Group Property Bhd for an apartment project in Segambut, Kuala Lumpur, and will instead sell the 6.5-acre parcel to Chin Hin via a direct land deal. T7 Global Bhd has on Tuesday secured a six-month contract extension from Hibiscus Petroleum Bhd for the provision of maintenance, construction and modification services. Luxchem Corp Bhd is acquiring five leasehold industrial lands in Mukim Kapar, Klang, for RM45.6mn in cash. Tomypak Holdings Bhd 's wholly-owned subsidiary has exercised a call option to acquire an additional 10% equity interest in EB Packaging Sdn Bhd for RM6.7mn that will raise its shareholding in the latter to 90%. Master TEC Group Bhd has signed a MoU with Kuching-based Senari Synergy Sdn Bhd to jointly assess the feasibility of establishing a cable manufacturing facility in Sarawak. Scope Industries Bhd is investing RM20mn in Malacca Securities Sdn Bhd through the subscription of preference shares. Petronas Gas Bhd has entered into a settlement agreement with BASF Petronas Chemicals Sdn Bhd under which the latter will pay RM52mn to resolve disputes arising from an electricity supply agreement. MBSB Bhd has rebranded its investment banking arm as MBSB Investment Bank Bhd and the group's investment research unit MBSB Research. Urusharta Jamaah Sdn Bhd, a special purpose vehicle under Malaysia's Ministry of Finance, has emerged as a substantial shareholder in Elridge Energy Bhd with a 5.3% direct stake.
BusinessToday
04-07-2025
- Business
- BusinessToday
Nationgate, Genting Plantations Lead The Way As Market Closes Slightly Higher
The stock market closed marginally higher on July 4, supported by selective buying in heavyweight counters despite subdued overall market activity. The market breadth was slightly positive, with 489 gainers outpacing 466 losers, while 509 counters were unchanged, 923 were untraded and 21 were suspended. Trading activity, however, slowed, with turnover falling to 3.43 billion shares worth RM2.47 billion, down from 5.09 billion units valued at RM2.9 billion in the previous session, indicating a cautious tone ahead of the weekend. Top performer for July 4 was Genting Plantations Bhd, which climbed 22 sen to RM5.23 on a volume of 324,000 shares. Tech-focused Nationgate Holdings Bhd also drew strong investor interest as the counter jumped 11 sen to RM1.78 with 5.6 million shares traded, making it the most actively traded counter of the day. Other notable gainers included Can-One Bhd, up 10 sen to RM2.20, Heineken Malaysia Bhd, which gained 10 sen to RM25.44, and Hong Leong Industries Bhd, which grew 10 sen to RM13.52. On the losing end, consumer giant Nestlé (M) Bhd led the decliners, falling RM2.48 to RM77.52. It was followed by Dutch Lady Milk Industries Bhd, which slipped 54 sen to RM29.14, and Petronas Dagangan Bhd, which dropped 40 sen to RM21.56. Other laggards included Westports Holdings Bhd, down 22 sen to RM5.58, and Timberwell Bhd, which lost 14.5 sen to 24.5 sen. Market analysts expect the FBM KLCI to remain in a consolidative phase, with investors turning cautious ahead of upcoming global economic data and earnings announcements. Related
New Straits Times
02-06-2025
- Business
- New Straits Times
Removal of Biden-era AI diffusion rule positive for Nationgate
KUALA LUMPUR: The US' move to revoke and revise the Biden-era artificial intelligence (AI) diffusion rule is seen as a near-term positive for Nationgate Holdings Bhd. The original rule, which aimed to restrict AI chip exports, was set to take effect on 15 May. Affin Hwang Investment Bank Bhd said the US is also reportedly considering replacing the tiered approach with a global licensing regime and using it as a negotiating tool in trade talks. "As such, the access to AI chips will likely eventually hinge on the respective government-to-government agreements with the US. "We make minimal changes to our financial year 2025 to financial year 2027 (FY25-FY27) earnings per share (EPS) forecasts for housekeeping reasons pending further clarity on the AI chip export rule," it said. Affin Hwang updated its valuation base year to financial year 2026 and raised the 12-month target price to RM1.73, maintaining its target price to earnings ratio (PE) of 19.4 times. The firm also upgraded the stock to a 'Buy' call, following a 43 per cent year-to-date pullback in its share price. Affin Hwang said Nationgate's core net profit of RM78 million for the first quarter of 2025 (1Q25) exceeded expectations, making up 45 per cent of its full-year forecast and 39 per cent of the consensus estimate. Nationgate's performance was driven by higher-than-anticipated deliveries of AI servers.
The Star
29-05-2025
- Business
- The Star
Nationgate 1Q net profit more than doubles to RM53.88mil
KUALA LUMPUR: Nationgate Holdings Bhd posted a net profit of RM53.88 million for the first quarter ended March 31, 2025 (1Q 2025), more than doubled the RM21.01 million recorded in the same period last year. Revenue surged to RM2.84 billion from RM207.01 million previously, boosted by strong demand in data computing segment, it said in a filing with Bursa Malaysia. On prospects, the company said despite the challenges from geopolitical tensions and trade disputes, it remains optimistic and confident with the opportunities that lie ahead, particularly in the electronics manufacturing services industry, which are expected to experience notable developments and transformation. This will be driven by several factors, including the shifting of more manufacturing operations out of China, technological advancements, digital transformation, and increased enquiries from data centre providers. NationGate has declared an interim dividend of 0.25 sen per share for the financial year ending Dec 31, 2025. - Bernama
