Latest news with #RM2.16
The Star
08-07-2025
- Business
- The Star
Possible restriction on chips looms over SunCon
PETALING JAYA: While a knee-jerk reaction is expected for Sunway Construction Group Bhd (SunCon) following news last week of a possible US plan to restrict shipments of artificial intelligence (AI) chips to Malaysia, estimates for the group have been left unchanged, analysts say. Maybank Investment Bank Research (Maybank IB) believes it is still too premature at this point to pass judgement. 'However, we highlight two possible scenarios – worst case fair value of RM2.16 if annual job wins fall to RM1.6bil, and share price falling to as low as RM3.36 on a price-to-earnings multiple derating to trough levels.' Maybank IB said its current target price of RM6.72 and its 'buy' rating were premised on annual job wins of RM7bil. SunCon shares were at RM5.87, down 12 sen or 2%, yesterday afternoon. It ended the day at RM5.88. Last Saturday, it was reported that the United States was planning to restrict shipments of AI chips that power data centres to Malaysia and Thailand, which suggests that the construction of data centres may decelerate and affect contractors such as SunCon. 'Of all the contractors under our coverage, it is the most exposed to data centres,' the research house said. As of May 31, data centres accounted for 51% of SunCon's RM7.9bil order book and 54% of its RM3.5bil year-to-date (YTD) job wins. From 2020 to last year, SunCon won an average of RM1.6bil of non-data centre jobs a year, it added. The builder's YTD job wins of RM3.5bil comprised data centres at 54% and 46% other jobs. 'Assuming SunCon does not win any more data centre jobs from the second half of this year (2H25) but only wins RM1.6bil of non-data centre jobs a year (half-year impact in 2H25), our FY25 to FY27 earnings per share (EPS) could drop by 5%, 43% and 67% respectively. 'Ascribing a 19 times price-to-earnings multiple to FY27 EPS, when the lower job wins would have largely played out, a situational 'worst case' fair value works out to be RM2.16,' the research house said. Downside risks for SunCon include slower-than-expected progress at existing projects which will affect the timing of earnings recognition, the research house said. Maybank IB also said the timing of the rollouts for large infrastructure projects by the government could affect order book replenishment. 'In the precast-concrete segment, significant increase in steel prices and stiffer competition could also affect margins,' the research house said.
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%.
Malaysian Reserve
22-05-2025
- Business
- Malaysian Reserve
FBM KLCI extends losing streak for 4th straight session
KUALA LUMPUR — The FBM KLCI has extended its decline for a fourth consecutive session on Wednesday, underscoring a deepening risk-off sentiment across Malaysia's equity market, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.07 points, or 0.26 per cent, to 1,544.80 from Tuesday's close of 1,548.87. The benchmark index opened 4.07 points higher at 1,552.94 and fluctuated between 1,542.47 and 1,553.84 throughout the trading session. In the broader market, losers thumped gainers 649 to 342, while 464 counters were unchanged, 963 untraded, and seven suspended. Turnover increased to 3.27 billion units worth RM2.16 billion against 2.61 billion units worth RM1.98 billion on Tuesday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that foreign investors remained net sellers on both Monday and Tuesday, amplifying the sell-off as external macroeconomic and geopolitical headwinds continue to dominate investor positioning. 'Market sentiment remains fragile as global investors weigh persistent political and fiscal uncertainty in the United States,' he told Bernama. Despite resilient domestic fundamentals—evidenced by strong export figures released yesterday—the local market performance remains largely dictated by exogenous variables. Until greater clarity emerges on the US fiscal path and monetary policy trajectory, market volatility is likely to persist, warranting a cautious but opportunistic approach, he added. Among heavyweights, IHH Healthcare added 1.0 sen to RM6.96, CelcomDigi rose 2.0 sen to RM3.90, Hong Leong Bank advanced 10 sen to RM20, Press Metal Aluminium climbed 9.0 sen to RM5.05, MISC was flat at RM7.66, while Maybank, Tenaga Nasional and CIMB all fell 4.0 sen to RM10, RM14.10 and RM7.0, respectively. For active stocks, Harvest Miracle and MYEG perked up half-a-sen each to 18.5 sen and 90 sen, respectively, Tanco increased 1.0 sen to 96.5 sen, Sarawak Cable shed 5.0 sen to 3.0 sen, Inari Amertron slipped 15 sen to RM1.87, and Nationgate went down 4.0 sen to RM1.57. On the index board, the FBM Emas Index shed 41.23 points to 11,525.68, the FBMT 100 Index slid 34.20 points to 11,282.77, the FBM Emas Shariah Index went down 17.23 points to 11,445.65, the FBM 70 Index lost 67.47 points to 16,345.90, and the FBM ACE Index shaved off 27.49 points to 4,626.05. Across sectors, the Financial Services Index tumbled 100.05 points to 18,215.87, the Industrial Products and Services Index eased 1.41 points to 155.05, the Energy Index slipped 1.81 points to 712.96, while the Plantation Index rose by 48.85 points to 7,329.78. The Main Market volume expanded to 1.33 billion units valued at RM1.87 billion from Tuesday's 1.17 billion units valued at RM1.75 billion. Warrants turnover advanced to 1.62 billion units worth RM191.45 million from 1.07 billion units worth RM128.67 million yesterday. The ACE Market volume declined to 327.86 million units worth RM96.64 million from 363.69 million units worth RM102.09 million previously. Consumer products and services counters accounted for 208.40 million shares traded on the Main Market, industrial products and services (281.74 million), construction (110.26 million), technology (190.91 million), SPAC (nil), financial services (69.37 million), property (146.26 million), plantation (17.55 million), REITs (9.50 million), closed/fund (nil), energy (139.13 million), healthcare (37.16 million), telecommunications and media (35.97 million), transportation and logistics (26.06million), utilities (5383 million), and business trusts (300). — BERNAMA
New Straits Times
21-05-2025
- Business
- New Straits Times
FBM KLCI extends losing streak for fourth straight session
KUALA LUMPUR: The FBM KLCI has extended its decline for a fourth consecutive session on Wednesday, underscoring a deepening risk-off sentiment across Malaysia's equity market, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.07 points, or 0.26 per cent, to 1,544.80 from Tuesday's close of 1,548.87. The benchmark index opened 4.07 points higher at 1,552.94 and fluctuated between 1,542.47 and 1,553.84 throughout the trading session. In the broader market, losers thumped gainers 649 to 342, while 464 counters were unchanged, 963 untraded, and seven suspended. Turnover increased to 3.27 billion units worth RM2.16 billion against 2.61 billion units worth RM1.98 billion on Tuesday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that foreign investors remained net sellers on both Monday and Tuesday, amplifying the sell-off as external macroeconomic and geopolitical headwinds continue to dominate investor positioning. "Market sentiment remains fragile as global investors weigh persistent political and fiscal uncertainty in the United States," he told Bernama. Despite resilient domestic fundamentals—evidenced by strong export figures released yesterday—the local market performance remains largely dictated by exogenous variables. Until greater clarity emerges on the US fiscal path and monetary policy trajectory, market volatility is likely to persist, warranting a cautious but opportunistic approach, he added.
Barnama
19-05-2025
- Business
- Barnama
Bursa Malaysia Ends Lower In Line With Regional Markets
REGION - CENTRAL > NEWS By Siti Radziah Hamzah KUALA LUMPUR, May 19 (Bernama) -- Bursa Malaysia ended lower on Monday, mirroring the lacklustre performance across Asia as weak Chinese economic data and the recent downgrade of the United States' sovereign credit rating weighed on regional market sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 15.61 points, or 0.99 per cent, to 1,556.14 from Friday's close of 1,571.75. bootstrap slideshow The benchmark index opened 5.18 points lower at 1,566.57 and fluctuated between 1,550.93 and 1,566.57 throughout the trading session. In the broader market, losers thumped gainers 889 to 216, while 384 counters were unchanged, 906 untraded and 17 suspended. Turnover increased to 3.71 billion units worth RM2.27 billion versus last Friday's 2.91 billion units worth RM2.16 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng believed the selldown offers an opportunity to bargain hunt stocks at lower levels. 'We reckon it is time to accumulate blue chips with strong dividend yields, such as banks and utilities, for a better defensive approach. As such, we anticipate the benchmark index will trend within the range of 1,550-1,580 for the week,' he told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, Mohd Sedek Jantan, said despite the selling pressure, trading activity remained robust.
