Latest news with #RM2.15bil
The Star
02-07-2025
- Business
- The Star
KLCI climbs on tech and PETRONAS-linked gains
Rakuten Trade's Thong said the benchmark index continues to show strength, supported by steady net foreign inflows and sustained interest in heavyweight counters. KUALA LUMPUR: Persistent buying momentum, mostly seen in selected technology and Petroliam Nasional Bhd (PETRONAS)-linked counters pushed the FBM KLCI to record another intraday high at the close yesterday, extending its rally to five consecutive trading sessions, an analyst says. Malaysian Pacific Industries Bhd and Petronas Dagangan Bhd were among the top two gainers, rising RM1 and 44 sen to RM22.40 and RM21.70, respectively. At 5pm, the FBM KLCI rose 8.68 points, or 0.56%, to end at 1,550.21 from Tuesday's close of 1,541.53. The benchmark index opened 1.8 points lower at 1,539.73 and subsequently hit its lowest level of 1,539.18 in early trade. The broader market was broadly positive with 531 gainers outpacing 442 decliners, while 498 counters were unchanged, 920 untraded and 14 suspended. Turnover rose to 3.11 billion units worth RM2.38bil against 2.05 billion units worth RM2.15bil on Tuesday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices closed mixed as investors weighed recent remarks by US Federal Reserve chair Jerome Powell, who noted that rate cuts would likely have occurred if not for President Donald Trump's tariff policies. 'In addition, there is growing investor speculation about a possible US-Japan agreement, even as Trump repeated his threat of 30% to 35% tariffs on Japanese products,' he told Bernama. On the domestic front, he said the benchmark index continues to show strength, supported by steady net foreign inflows and sustained interest in heavyweight counters. 'With a solid technical foundation above the 1,530 level, we raise our weekly target to 1,530-1,560, anticipating that the index will remain firm within this range barring any unforeseen circumstances,' he said. Among heavyweights, Malayan Banking Bhd increased four sen to RM9.76, Public Bank Bhd went up six sen to RM4.32, CIMB Group Holdings Bhd and IHH Healthcare Bhd increased three sen to RM6.78 and RM6.83, respectively, while Tenaga Nasional Bhd declined 30 sen to RM14.60. As for the most active stocks, Automation Group Bhd eased half-a-sen to 16.5 sen, Tanco Holdings Bhd and Compugates Holdings Bhd were flat at 89 sen and 1.5 sen, respectively, while YTL Corp Bhd gained eight sen to RM2.45.
The Star
02-07-2025
- Business
- The Star
FBM KLCI hits five-week high, ringgit at nine-month peak
KUALA LUMPUR: The FBM KLCI extended its gains to a fourth straight session, closing at a five-week high, while the ringgit strengthened to a nine-month peak amid sustained foreign interest and a weaker US dollar. The FBM KLCI rose for the fourth straight session, gaining 8.57 points or 0.56% to close at 1,541.53 — its highest level since late May. Today's gain was the largest since June 23, when the index rose 0.92%. Market breadth was positive, with gainers outpacing losers 565 to 389, while 464 counters remained unchanged. Total trading volume reached 2.05 billion shares, valued at RM2.15bil. On the forex market, the ringgit rose 0.38% against the US dollar to 4.1933, its highest since October 2024. The local currency edged up 0.02% against the Singapore dollar to 3.3010, while it fell 0.17% against the pound sterling to 5.7756 and dropped 0.37% against the euro to 4.9516. According to Bloomberg, Malaysia's ringgit strengthened to a nine-month high, driven by strong foreign bond inflows and a weaker US dollar. The rally was further supported by easing global trade tensions and growing foreign interest in local government bonds. On Bursa Malaysia, Nestle jumped 78 sen to RM77.50, Tenaga Nasional added 52 sen to RM14.90, Kuala Lumpur Kepong rose 38 sen to RM21.08 and Chin Tek climbed 21 sen to RM9.40. Among the losers, F&N slid 38 sen to RM29.08, PETRONAS Dagangan fell 26 sen to RM21.26, Eurospan lost 14 sen to RM2.16 and SHH Resources declined 13 sen to RM1.12. Gamuda was the top contributor to the index's gain and posted the biggest move, rising 3.76% or 18 sen to RM4.97. CelcomDigi was the biggest drag on the index, falling 2.04% or six sen to RM3.85, marking the largest decline among KLCI constituents. Dealers said the FBM KLCI extended its gains on sustained foreign interest, a stronger ringgit, and improved regional sentiment, with easing trade tensions and continued fund inflows supporting investor confidence. Meanwhile, stock market data showed that foreign investors bought RM66mil worth of equities on Monday. Local institutions and retailers were net sellers, offloading RM28mil and RM38mil, respectively. Regional markets closed mixed, with gains in South Korea, China, and Singapore offset by losses in Japan and Hong Kong. Japan's Nikkei 225 fell 1.24%, and Hong Kong's Hang Seng Index closed down 0.87%. South Korea's Kospi rose 0.58%, China's CSI 300 Index added 0.17%, and Singapore's Straits Times Index closed up 0.7%.
The Star
14-05-2025
- Business
- The Star
DKSH 1Q25 net profit rises 19% on strong sales
The company's revenue for the quarter rose 7.1% to RM2.22bil from RM2.07bil in 1Q24. KUALA LUMPUR: DKSH Holdings (M) Bhd , which has posted a 19% rise in first-quarter (1Q25) net profit, says it will continue focusing on talent development, digitalisation, and automation. 'The group's strategy remains to grow existing businesses and secure new businesses, improve cost and resource efficiency, manage working capital, and consistently monitor the outlook to navigate the prevailing environment,' DKSH said in a filing with Bursa Malaysia. The trading group expects the economy to maintain its positive momentum in 2025, building on the strong year-on-year (y-o-y) growth achieved in 2024. 'While this outlook is encouraging, it is tempered by evolving global trade policies – including recent tariff adjustments and supply chain realignments – which may impact specific sectors. 'Potential rationalisation of domestic subsidies could introduce new cost dynamics,' it added. In the 1Q25 ended March 31, 2025, DKSH's net profit rose 19% y-o-y to RM48.2mil or 30.56 sen per share, on sales growth, improved cost efficiencies and favourable foreign exchange gains. Additionally, revenue for the quarter rose 7.1% to RM2.22bil from RM2.07bil in 1Q24. It attributed the improved revenue to stronger sales from new and existing clients in the consumer goods and healthcare segments, along with higher outlet sales in the others segment. DKSH added operating expenses for the quarter increased by 6.9% y-o-y to RM2.15bil compared to the corresponding 1Q24 and increased by 7.9% compared to the preceding 4Q24. Furthermore, the changes in operating expenses were largely in line with the movement in revenue with controlled cost measures in selling and distribution expenses. DKSH's consumer goods segment's revenue for the quarter improved by 6.8% on-year to RM1.2bil due to growth from existing and newly secured clients, and seasonal sales due to the timing of festivities in 2025, its filing noted. Its healthcare segment's revenue for the quarter improved by 7.4% y-o-y to RM984mil driven by strong growth from existing and newly secured clients.
