Sunview hits all-time low despite bullish call
KUALA LUMPUR: Sunview Group Bhd tumbled 15.18 per cent in morning trade to 33.5 sen a share, hitting a fresh low despite a broader market rally that saw nearly all sectoral indices in the green.
The sharp fall came on heavy volume, with 15.68 million shares traded, the counter's busiest day in nearly a year.
By midday, the solar photovoltaic system contractor had pared some losses but still closed 13.92 per cent or 5.5 sen lower at 34 sen.
The slide extends a rough year for Sunview, whose share price has shrunk by a quarter since the start of 2025, when it traded at 45.5 sen.
Sunview made a stellar debut on Oct 17, 2022, doubling its initial public offering price of 29 sen to close at 59.5 sen on its first trading day.
The stock peaked at 95.5 sen on July 13, 2023, before entering a prolonged slump, notably after June 18, 2024, when it traded at 77 sen.
Its most recent update involved a RM70 million financing deal secured by its unit, Fabulous Sunview Sdn Bhd, to help fund a 29.99-megawatt ground-mounted solar project in Kedah.
On May 30, the group disclosed there had been no material updates to its memorandum of understanding with Huawei, signed to explore electric vehicle charging, microgrids, telecommunications modernisation and energy storage.
The sharp drop also ran counter to a bullish technical call by RHB Investment Bank Bhd earlier today.
The research house had identified Sunview as a trading pick, saying a breakout above the 39 sen level pointed to renewed buyer confidence.
RHB flagged upside potential towards 41.5 sen and 44 sen, but warned that a dip below 37 sen would invalidate the setup, a support level now decisively broken.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
![SME group: Op Gasak enforcement poorly communicated to businesses [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
a day ago
- New Straits Times
SME group: Op Gasak enforcement poorly communicated to businesses [WATCH]
KUALA LUMPUR: The Small and Medium Enterprise (SME) Association of Malaysia has raised concerns over the lack of early and clear communication regarding Op Gasak, an ongoing operation targeting misuse of subsidised liquefied petroleum gas (LPG), saying it has left many small traders confused and anxious. Its president, Dr Chin Chee Seong, said the enforcement move, which involves scrutiny of gas usage and permits, was not properly communicated to industry players, particularly micro and small enterprises. "There may have been official dissemination of information, but nothing was directly conveyed to us or to other associations that represent small businesses," he told the NST's Beyond the Headlines. Chin said the operation's name itself — Op Gasak — was vague and raised more questions than answers. "Some SMEs are unsure if this is a swift government action or a harsh crackdown. When it involves subsidies, especially for gas, it's a sensitive issue for micro enterprises. Many of them aren't even classified as SMEs officially, yet they are affected." He said small traders were confused about compliance requirements, particularly the cap on subsidised gas cylinders. "Many of them didn't even know that after using three 14kg domestic cylinders, they must switch to the commercial 50kg tank — which costs almost double at RM70, even though it's the same gas," he said. While these regulations have existed for some time, Chin said they were not widely communicated because enforcement was previously lax. "Now, with stricter enforcement under Op Gasak, many feel blindsided. Different media sources have shared conflicting information, which contradicts what the ministry announced. This inconsistency has made things worse," he added. He called on authorities to engage more closely with business associations to ensure clearer communication in future. "When we're not engaged, we're confused too — and we don't know how to advise our members. There have been too many new policies recently that were rushed without proper consultation," he said. Op Gasak, which runs from May 1 to Oct 31, aims to curb illegal activities such as decanting (transferring gas from subsidised LPG cylinders to non-subsidised ones), smuggling, and the misuse of subsidised LPG by medium and large-scale industrial sectors. Eateries, including hawker stalls, will be required to use the 14kg purple-coloured commercial gas cylinders priced at RM70. On Thursday, however, the government announced that micro and small-scale food and retail businesses may continue using subsidised liquefied petroleum gas (LPG) cylinders without a Scheduled Controlled Goods Permit (PBKB) until October. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the exemption would remain in effect throughout the Ops Gasak enforcement period and until amendments to the Control of Supplies (Amendment) Regulations 2021 are finalised.
New Straits Times
2 days ago
- New Straits Times
Sunview hits all-time low despite bullish call
KUALA LUMPUR: Sunview Group Bhd tumbled 15.18 per cent in morning trade to 33.5 sen a share, hitting a fresh low despite a broader market rally that saw nearly all sectoral indices in the green. The sharp fall came on heavy volume, with 15.68 million shares traded, the counter's busiest day in nearly a year. By midday, the solar photovoltaic system contractor had pared some losses but still closed 13.92 per cent or 5.5 sen lower at 34 sen. The slide extends a rough year for Sunview, whose share price has shrunk by a quarter since the start of 2025, when it traded at 45.5 sen. Sunview made a stellar debut on Oct 17, 2022, doubling its initial public offering price of 29 sen to close at 59.5 sen on its first trading day. The stock peaked at 95.5 sen on July 13, 2023, before entering a prolonged slump, notably after June 18, 2024, when it traded at 77 sen. Its most recent update involved a RM70 million financing deal secured by its unit, Fabulous Sunview Sdn Bhd, to help fund a 29.99-megawatt ground-mounted solar project in Kedah. On May 30, the group disclosed there had been no material updates to its memorandum of understanding with Huawei, signed to explore electric vehicle charging, microgrids, telecommunications modernisation and energy storage. The sharp drop also ran counter to a bullish technical call by RHB Investment Bank Bhd earlier today. The research house had identified Sunview as a trading pick, saying a breakout above the 39 sen level pointed to renewed buyer confidence. RHB flagged upside potential towards 41.5 sen and 44 sen, but warned that a dip below 37 sen would invalidate the setup, a support level now decisively broken.
The Star
3 days ago
- The Star
It's a gas-tronomic issue
Stark difference: The subsidised LPG gas cylinder seen here costs RM26 while a commercial variation is priced at RM70. Eatery owners want more clarity over rules on LPG use PETALING JAYA: A switch to commercial liquefied petroleum gas (LPG) by hawkers could lead to consumers having to pay higher food prices, says the Petaling Jaya Coffeeshop Association. 'We do not want to pass down any cost as it does not solve any problem. 'At the end of the day, we will lose customers. People will eat out less due to smaller spending power and ultimately, the impact comes back to us,' said association president Keu Kok Meng. A subsidised LPG gas cylinder costs RM26. But the commercial variation is priced at RM70, which means an almost three times increase in cost. The controversy over LPG emerged when the Domestic Trade and Cost of Living Ministry began Ops Gasak from May 1 to Oct 31 to look into the misuse of subsidised LPG. According to the ministry, LPG subsidies is intended for households. It is not a trade or commercial subsidy. But any party is allowed to use a maximum of 42kg (three cylinders of 14kg size) at any one time without requiring a permit. However, MCA president Datuk Seri Dr Wee Ka Siong has highlighted a PETRONAS directive dated April 30 that gas dealers should stop selling 12kg and 14kg subsidised LPG cylinders to commercial premises such as restaurants, hawkers stalls and mamak shops. The matter had led to anxiety among small traders and hawkers, Dr Wee said, adding that they should be given an assurance that they can continue using subsidised LPG. Keu told a press conference yesterday that it had been a tough time for hawkers. Taking into account the cost of commercially priced LPG, he said a bowl of noodles could go up by more than RM1. Citing the example of a stall selling prawn noodles and using two subsidised gas cylinders a day amounting to RM52, Keu said a switch to commercial gas would mean that the cost would be RM140 instead. He claimed that enforcement officers carrying out Ops Gasak had taken action against a place in Setia Alam, Selangor, although the ministry had previously explained that the inspections of food and beverage outlets are conducted as an 'advocacy' move. 'It is stressful to hear about seizures being made,' he said, adding that there should be clarity about Ops Gasak. Keu said they had written to various stakeholders on this issue including the ministry, MPs and MCA leaders. Petaling Jaya MP Lee Chean Chung, who was present at the press conference yesterday, said he had sought clarification on the matter from the Selangor office of the Domestic Trade and Cost of Living Ministry. He also proposed the ministry consult stakeholders like food courts, restaurants and coffeeshop operators, as well as MPs, before implementing such measures.
