ACE Market debutant West River emerges as most actively traded stock
KUALA LUMPUR: ACE Market debutant West River Bhd, which has emerged as the most actively traded stock this morning, is well-positioned for sustained growth, said Rakuten Trade Sdn Bhd.
This is evidenced by the company's sizable unbilled order book of RM247.3 million across 26 active contracts, it said.
In a note, the online stock broking company said West River is also actively tendering for 101 projects totalling RM1.03 billion.
Equipped with the prestigious G7 Construction Industry Development Board (CIDB)and Class A ST licenses, the company is eligible to bid for projects of unlimited value, significantly widening its market reach.
"As Malaysia's mechanical and electrical (M&E) engineering sector benefits from continuing urbanisation, infrastructure investment, and demand for energy-efficient systems, especially in data centres, healthcare, and commercial buildings, West River stands to gain from regulatory tailwinds that favour certified and sustainable solutions,' said Rakuten Trade.
Overall, it is optimistic about West River's prospects, premised on its robust contract pipeline, digital capabilities, and healthy net cash balance sheet, which collectively equip the group to sustain long-term growth post-listing.
It recommended a "buy' call with a fair value of 47 sen for the company.
As at 10 am, West River's share price was 1.0 sen lower at 38 sen, with 40.17 million shares traded. - Bernama
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
an hour ago
- New Straits Times
Bursa Malaysia seen trading between 1,500 and 1,530 next week, pending fresh catalysts
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) is set to trade between 1,500 and 1,530 points next week, pending fresh market catalysts, said an analyst. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market attention is anticipated to revolve around several important economic indicators, such as China's May consumer price index (CPI), producer price index (PPI), and its unemployment figures. Investors will also monitor the US CPI and PPI for May, and industrial output from the Eurozone for April. "Domestically, the lack of market-moving news has kept the benchmark index in consolidation, and this is expected to carry over into the coming week," he added. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, Mohd Sedek Jantan, said investors would also be monitoring South Korea's unemployment rate, Japan's first-quarter gross domestic product (GDP) revision, and India's CPI - all of which could influence sentiment across the region. While it remains difficult to adopt a fully constructive view at this juncture, he reckons downside risks to the FBM KLCI may be partially cushioned by undemanding valuations and continued ringgit strength. "That said, while Malaysian stocks may currently be undervalued, offering attractive entry points, a strengthening ringgit against the US dollar could increase the cost of entry for foreign investors, potentially raising the risk premium due to reduced competitiveness of export-oriented sectors," he added. For the shortened week just ended, Bursa Malaysia was mostly lower on profit-taking, mainly due to cautious sentiment on the US-China trade talks and a lack of positive economic figures from the two countries. Bursa Malaysia Bhd and its subsidiaries were closed on Monday, June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,508.35 a week earlier. The FBM Emas Index gained 55.54 points to 11,355.34, the FBMT 100 Index added 62.69 points to 11,123.69, and the FBM Emas Shariah Index climbed 72.96 points to 11,329.22. The FBM 70 Index picked up 95.06 points to 16,296.57, but the FBM ACE Index fell 31.71 points to 4,519.32. Across sectors, the Financial Services Index narrowed 132.23 points to 17,708.31, the Industrial Products and Services Index was 1.85 points easier at 150.80, and the Energy Index gained 10.41 points to 718.45. The Plantation Index grew 45.00 points to 7,252.85, but the Healthcare Index weakened 22.81 points to 1,794.14. Turnover fell to 9.80 billion units worth RM8.18 billion from 14.80 billion units valued at RM12.78 billion in the preceding week. The Main Market volume shrank to 4.50 billion units valued at RM7.21 billion against 7.21 billion units worth RM11.50 billion. Warrant turnover declined to 4.07 billion units worth RM533.43 million versus 5.90 billion units worth RM721.75 million a week ago. The ACE Market volume weakened to 1.22 billion units valued at RM432.22 million compared with 1.66 billion units worth RM543.90 million.
The Star
2 days ago
- The Star
Bursa Malaysia ends slightly lower tracking regional markets
KUALA LUMPUR: Bursa Malaysia ended the week slightly lower, tracking the negative performance seen across regional markets, particularly among emerging markets, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 0.08 per cent, or 1.33 points, to 1,516.79 from Thursday's close of 1,518.12. The benchmark index opened at 1,516.91, less 1.21 points, and moved between 1,513.39 and 1,518.71 throughout the trading session. Market breadth was negative, as decliners outnumbered gainers 478 to 325. A total of 529 counters remained unchanged, with 1,014 untraded and 20 suspended. Turnover dropped to 1.92 billion units worth RM1.66 billion compared with Thursday's 2.42 billion units valued at RM2.27 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama that key regional indices ended mixed as investors remained cautious, awaiting further signals on trade negotiations between the United States (US) and key regional players, especially China. Besides, he said that the weak performance on Wall Street overnight hurt market sentiment globally. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI posted a marginal decline, despite Thursday's notable technical rebound, which helped cushion broader losses. He said gains were concentrated mainly in select index constituents, supported by short-term technical recovery and renewed optimism surrounding data centre-related themes. However, foreign investors continued to pare down their holdings in Malaysian equities, marking a third consecutive week of net selling. Additionally, although US President Donald Trump described his phone conversation with President Xi Jinping as "very good', the remarks failed to lift sentiment meaningfully. Asian markets closed mixed, with major Chinese indices ending in negative territory, highlighting persistent investor caution amid unresolved geopolitical and macroeconomic headwinds. Meanwhile, risk sentiment on Wall Street was briefly pressured by a public feud between Trump and businessman Elon Musk, centred on threats to revoke Musk's government contracts. "At this stage, we view the issue as isolated, with limited impact on the broader technology sector in both the US and Malaysian markets,' said Mohd Sedek. Among the heavyweights, Petronas Chemicals shed 11 sen to RM3.25, Press Metal Aluminium eased 7.0 sen to RM4.96, 99 Speed Mart Retail slid 2.0 sen to RM2.09, RHB Bank reduced 5.0 sen to RM6.35, and Petronas Dagangan fell by 14 sen to RM21.00. Among the most active stocks, MYE added 1.5 sen to 94.5 sen, Tanco and Gamuda rose 3.0 sen each to RM1.03 and RM4.77, respectively, KPJ dropped 3.0 sen to RM2.75, and Signature Alliance Group gained 1.0 sen to 71 sen. On the index board, the FBM Emas Index weakened 7.49 points to 11,355.34, the FBMT 100 Index cut 4.67 points to 11,123.69, but the FBM ACE Index gained 1.18 points to 4,519.32. The FBM Emas Shariah Index gave up 11.52 points to 11,329.22, but the FBM 70 Index recovered 13.26 points to 16,296.57. Sector-wise, the Financial Services Index fell 31.26 points to 17,708.31, and the Industrial Products and Services Index was 1.32 points lower at 150.80. However, the Energy Index rose 9.84 points to 718.45, and the Plantation Index grew 33.47 points to 7,252.85. The Main Market volume narrowed to 964.07 million units valued at RM1.46 billion compared to Thursday's 1.16 billion units worth RM2.00 billion. Warrants turnover dwindled to 706.23 million units worth RM98.53 million from 898.22 million units valued at RM114.39 million yesterday. The ACE Market volume declined to 249.20 million shares, valued at RM105.00 million, compared with 361.18 million shares worth RM153.86 million previously. Consumer products and services counters accounted for 123.80 million shares traded on the Main Market, industrial products and services (164.82 million), construction (86.55 million), technology (154.08 million), SPAC (nil), financial services (54.91 million), property (133.50 million), plantation (8.96 million), REITs (14.57 million), closed-end funds (4,000), energy (79.64 million), healthcare (48.05 million), telecommunications and media (39.11 million), transportation and logistics (17.48 million), utilities (38.55 million), and business trusts (1,000). - Bernama
New Straits Times
2 days ago
- New Straits Times
Bursa Malaysia ends slightly lower tracking regional markets
KUALA LUMPUR: Bursa Malaysia ended the week slightly lower, tracking the negative performance seen across regional markets, particularly among emerging markets, an analyst said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 0.08 per cent, or 1.33 points, to 1,516.79 from Thursday's close of 1,518.12. The benchmark index opened at 1,516.91, less 1.21 points, and moved between 1,513.39 and 1,518.71 throughout the trading session. Market breadth was negative, as decliners outnumbered gainers 478 to 325. A total of 529 counters remained unchanged, with 1,014 untraded and 20 suspended. Turnover dropped to 1.92 billion units worth RM1.66 billion compared with Thursday's 2.42 billion units valued at RM2.27 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama that key regional indices ended mixed as investors remained cautious, awaiting further signals on trade negotiations between the United States (US) and key regional players, especially China. Besides, he said that the weak performance on Wall Street overnight hurt market sentiment globally. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI posted a marginal decline, despite Thursday's notable technical rebound, which helped cushion broader losses. He said gains were concentrated mainly in select index constituents, supported by short-term technical recovery and renewed optimism surrounding data centre-related themes. However, foreign investors continued to pare down their holdings in Malaysian equities, marking a third consecutive week of net selling. Additionally, although US President Donald Trump described his phone conversation with President Xi Jinping as "very good", the remarks failed to lift sentiment meaningfully. Asian markets closed mixed, with major Chinese indices ending in negative territory, highlighting persistent investor caution amid unresolved geopolitical and macroeconomic headwinds. Meanwhile, risk sentiment on Wall Street was briefly pressured by a public feud between Trump and businessman Elon Musk, centred on threats to revoke Musk's government contracts. "At this stage, we view the issue as isolated, with limited impact on the broader technology sector in both the US and Malaysian markets," said Mohd Sedek. Among the heavyweights, Petronas Chemicals shed 11 sen to RM3.25, Press Metal Aluminium eased 7.0 sen to RM4.96, 99 Speed Mart Retail slid 2.0 sen to RM2.09, RHB Bank reduced 5.0 sen to RM6.35, and Petronas Dagangan fell by 14 sen to RM21.00. Among the most active stocks, MYE added 1.5 sen to 94.5 sen, Tanco and Gamuda rose 3.0 sen each to RM1.03 and RM4.77, respectively, KPJ dropped 3.0 sen to RM2.75, and Signature Alliance Group gained 1.0 sen to 71 sen.
