Latest news with #RM1.2bil
The Star
15 hours ago
- Business
- The Star
Solarvest on track for strong FY26
Phillip Research said the company's management remained committed to further growing its order book to surpass RM2bil in FY26. PETALING JAYA: Solarvest Holdings Bhd is poised to chart another record showing for its financial year 2026 ending March 31 (FY26), due to, among other things, its strong engineering, procurement, construction, and commissioning (EPCC) order book. Phillip Research said it expects FY26 to be another record earnings year for the company supported by its robust RM1.2bil outstanding EPCC order book, comprising RM486mil worth of Corporate Green Power Programme projects, RM504mil in the fifth phase of the government's Large-Scale Solar (LSS5) projects, as well as RM252mil in residential, commercial and industrial projects. In a recent meeting, the research house said the company's management remained committed to further growing its order book to surpass RM2bil in FY26, underpinned by replenishment opportunities arising from LSS5, LSS5+ and the rolling out of battery energy storage systems. Solarvest has already secured a 30% share of the total two gigawatt (GW) capacity under LSS5 and is currently in active negotiations to finalise additional EPCC contracts by the third quarter of this financial year (3Q25), which could potentially lift its share to between 40% and 50%, the research house added. 'Looking ahead, the upcoming LSS5+ project is expected to introduce a further two GW of quota into the market, with bid finalisation anticipated by July 25, and EPCC contract awards commencing in 1Q26. 'Backed by a strong track record for execution in the LSS programme and robust bidding advisory capabilities, we anticipate Solarvest to maintain its 30% market share in LSS5+.' This includes the group's newly secured LSS5 projects and its Brunei solar venture, said the research house. 'The group now has a 334 megawatt pipeline of solar assets, targeted to be operational by FY28,' the research house said. Maintaining a 'buy' call on Solarvest with a higher target price of RM3.05, Phillip Research said it continues to like the company for its leading position in the solar-energy sector and for being a key beneficiary of the nation's energy-transition goals. Key downside risks include changes in the government's renewable-energy policy, project execution delays, intense market competition, and volatility in solar module prices.
The Star
07-07-2025
- Business
- The Star
Sabah's 2025 Budget will increase deficit, worsen economic gap, warns Shafie
KOTA KINABALU: Sabah's rising expenditure under the 2025 Supplementary Supply Bill will increase the state's mounting deficit and worsen the economic gap between the state government and its people, says Datuk Seri Shafie Apdal. Debating the Bill at the Sabah State Legislative Assembly on Monday (July 7), the Senallang assemblyman and opposition Parti Warisan president said that the additional RM1.2bil allocation on top of the previously approved RM6.7bil, pushes total state spending to almost RM8bil this year, yet there remained little clarity on how this would generate tangible returns for the rakyat. 'We are spending billions, but how much revenue are we actually generating? With this scale of spending, I believe Sabah is now facing a serious deficit,' said the former chief minister. Shafie also questioned the government's decision to raise RM900mil through sukuk bonds to bail out Sabah International Petroleum Sdn Bhd, likening the move to the controversial 1MDB case at the federal level. 'The state government is now in debt. A bailout of this size deserves scrutiny. It is not just about issuing sukuk, the real question is, is this money going where it is truly needed?' he asked. He stressed that every sen of public funds must lead to measurable outcomes, such as job creation, income generation, or directly solving issues affecting people's daily lives, particularly the long-standing water and electricity problems in rural areas. Shafie highlighted the frustration of many Sabahans who still struggle to access clean water, referencing some viral videos on social media of families and peaceful riots pleading for basic needs. 'They don't want luxury … they just want basic necessities like water to drink, shower, and use the toilet,' he said. He also criticised what he saw as a mismatch in spending priorities, stressing that millions were spent on state-level events and programmes that yielded little direct impact, while people were still waiting for their needs to be fulfilled. 'When we allocate extra funds, let it be based on need, not the ceremony. The people deserve more than token allocations,' he said. Shafie also raised concerns about the lack of transparency in certain allocations, including an additional RM1bil channelled to the Chief Minister's Department, describing it as odd based on his 36 years of political experience. 'We need clear answers. We request breakdowns, but often receive vague replies, such as 'for schools and students'. 'I will scrutinise and audit these expenditures, and if there is a change in government, I will ensure any abuse is addressed,' he said firmly, referring to the upcoming 17th state election, which is due by year's end. He reminded the House that these were public funds, paid by everyday Sabahans through taxes on basic goods like stationery, phones, and clothing. Touching on key issues like land rights, energy control, and foreign policy, Shafie urged better coordination between federal and state agencies to avoid repeating past mistakes like those seen in the Sipadan and Ligitan disputes. 'We need to work with our neighbours (Indonesia on developing Ambalat), yes … but not at the cost of Sabah's autonomy or resources. Let's not allow others, including PETRONAS, to dominate all our assets. 'We cannot allow this kind of spending to continue without results. The people deserve better … they deserve real development, not promises,' he said.
The Star
02-07-2025
- Business
- The Star
FBM KLCI edges up on cautious optimism despite external uncertainties
KUALA LUMPUR: Bursa Malaysia ended the morning session on a firmer note, as improved sentiment and selective buying supported the broader market despite lingering external uncertainties. At 12.30 pm, the FBM KLCI rose 6.81 points, or 0.44%, to 1,548.34, just shy of its intraday morning high of 1,549.78. There were 397 gainers, 430 decliners, while 469 stocks remained unchanged. The traded volume stood at 2.1 billion shares worth RM1.2bil. TA Securities noted that local market sentiment is likely to turn cautious, as investors await further clarity on ongoing trade negotiations. It added that a looming deadline next week could see the Trump administration reimpose sweeping tariffs. 'Immediate index support remains at 1,490, with stronger supports found at 1,465, followed by 1,444. 'Immediate resistance stays at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead,' TA said. Malacca Securities maintains a positive stance on data centre (DC) and renewable energy (RE) related stocks, given the recent agreement signed by Gamuda with a renewable energy developer. 'Also, with Tenaga Nasional's capex extending into 2H25, we believe this will benefit power infrastructure specialists as well as cable manufacturers. 'On the construction front, we expect the sector to trade on a firmer footing, on the back of higher project billings and anticipation of the final alignment announcement for the ART system in Johor, with an estimated value of RM6bil to RM7bil,' it said. Malaysian Pacific Industries rose 28 sen to RM21.68, PETRONAS Dagangan added 20 sen to RM21.46, Panasonic Manufacturing gained 16 sen to RM11.80 and MISC climbed 15 sen to RM7.70. Meanwhile, consumer stocks were among the top losers on Bursa Malaysia. Dutch Lady dropped 50 sen to RM29.24, F&N fell 28 sen to RM28.80, Ajinomoto eased 10 sen to RM12.80, and Amway declined eight sen to RM5.02. ACE Market debutant, ASM Automation, fell 0.5 sen to 16.5 sen with 45.15 million shares traded.
The Star
10-06-2025
- Business
- The Star
Solarvest continues to make hay as the sun shines
The company's unbilled order book quintupled from RM242mil in the fourth quarter of FY24 to RM1.2bil in 4Q25. PETALING JAYA: Solar energy company Solarvest Holdings Bhd is poised to scale new heights as the group's stellar results for its financial year 2025 ended March 31, (FY25) sets the stage for a stronger FY26, underpinned by a five-fold jump to RM1.2bil in unbilled orders, analysts say. Hong Leong Investment Bank Research (HLIB Research) said: 'We expect another record year for Solarvest going into FY26, backed by strong order book growth and commissioning of assets towards the later part of FY26.' The company's unbilled order book quintupled from RM242mil in the fourth quarter of FY24 (4Q24) to RM1.2bil in 4Q25. 'We believe execution of Corporate Green Power Programme contracts should kick into higher gear in FY26,' the research house added HLIB Research also anticipated the commencement of projects under the fifth phase of the government's Large Scale Solar (LSS5) initiative could lift Solarvest's engineering, procurement, construction and commissioning revenue towards 2H26. Solarvest's management is guiding for further contract wins from LSS5 in the near term, the research house noted. According to HLIB Research, Solarvest has consistently maintained a minimum 30% market share in past phases of the LSS initiative. Separately, LSS6 bidding is set to commence in the second and third quarters of this year, and the research house thinks the available quotas will be sizeable, ranging between two gigawatt and four gigawatt. 'As such we reckon that Solarvest management's guidance of surpassing RM2bil in unbilled orders in FY26 is conservative, looking at the existing pipeline and its stellar track record,' said HLIB Research. The research house maintained a 'buy' call on the stock with a target price of RM2.25 per share.
The Star
06-06-2025
- Politics
- The Star
Kabul's growing water crisis
EVERY week, Bibi Jan scrapes together some of her husband's meagre daily wage to buy precious water from rickshaw-drawn tankers that supply residents of Afghanistan's increasingly parched capital. Kabul faces a looming water crisis, driven by unruly and rapid urbanisation, mismanagement over years of conflict, and climate change, meaning people like Bibi Jan are sometimes forced to choose between food and water. 'When my children have only tea for a few days, they say, 'You bought water and nothing for us',' said the 45-year-old housewife, describing reusing her supplies for bathing, dishes and laundry. Experts have long sounded the alarm over Kabul's water problems, which are worsening even as many international players have backed off big infrastructure projects and slashed funding to Afghanistan since the Taliban government took power in 2021. 'There could be no ground water in Kabul by 2030' without urgent action, the UN children's agency Unicef warned last year. Other experts are more cautious, citing limited consistent and reliable data, but say the situation is clearly deteriorating. A 2030 cliff is a 'worst-case scenario', said water resources management expert Assem Mayar. A boy sitting atop a potable water tanker on a hillside in Kabul. — AFP But even if slated development projects are completed in a few years, it 'doesn't mean the situation would become better than now', Mayar said. 'As time goes on, the problems are only increasing,' he added, as population growth outstrips urban planning and climate change drives below-average precipitation. The Taliban authorities have launched projects ranging from recycling water to building hundreds of small dams across the country, but larger interventions remain hampered by financing and technical capacity. They remain unrecognised by any country since they ousted the Western-backed government and imposed their interpretation of religious law, with restrictions on women a major sticking point. They have repeatedly called for non-governmental groups to reboot stalled projects on water and climate change, as Afghanistan faces 'some of the harshest effects' in the region, according to the United Nations. The water and energy ministry wants to divert water from the Panjshir river to the capital, but needs US$300mil to US$400mil (RM1.2bil to RM1.7bil). A dam project near Kabul would ease pressures but was delayed after the Taliban takeover. For now, Kabul's primary drinking water source is groundwater, as much as 80% of which is contaminated, according to a May report by Mercy Corps. It is tapped by more than 100,000 unregulated wells across the city that are regularly deepened or run dry, the NGO said. Groundwater can be recharged, but more is drawn each year than is replenished in Kabul, with an estimated annual 76 million cubic metre deficit, experts say. 'It's a very serious problem... Water is decreasing day by day in the city,' said Shafiullah Zahidi, who heads central Kabul operations for the state-owned water company UWASS. Water systems designed decades ago serve just 20% of the city's population, which has exploded to around six million over the past 20 years, said Zahidi. At one of Kabul's 15 pumping stations, maintenance manager Mohammad Ehsan said the seven-year-old well is already producing less water. Two others nearby sit dry. 'The places with shallower water levels are dried out now,' said 53-year-old Ehsan, who has worked in water management for two decades, as he stood over an old well. It once produced water from a depth of 70m, but a newer well had to be bored more than twice as deep to reach groundwater. At one of the two large stations in the city, the International Committee of the Red Cross (ICRC) recently procured four new pumps where only one had been functioning. 'If that pump collapsed for any reason, that means stopping the service for 25,000 beneficiary households' which now have uninterrupted water, said Baraa Afeh, ICRC's deputy water and habitat coordinator. Everyone in Kabul 'should have 24-hour service', said Zahidi, from the state water company. But in reality, Bibi Jan and many other Kabulis are forced to lug water in heavy jugs from wells or buy it from tankers. These suppliers charge at least twice as much as the state-owned utility, with potable water even more pricey in a country where 85% of the population lives on less than a dollar a day. Bibi Jan said she has to police her family's water use carefully. 'I tell them, 'I'm not a miser but use less water.' Because if the water runs out then what would we do?' — AFP
