Strong ACE debut for Signature Alliance
The interior fit-out firm opened at 68 sen, above its IPO price of 62 sen, and climbed to an intraday high of 69.5 sen. As of 9.15am, the stock was trading at 67 sen, an 8 per cent premium, with more than 35 million shares changing hands.
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New Straits Times
7 hours ago
- New Straits Times
SMRT back in the black, paving way for Main Market transfer
KUALA LUMPUR: SMRT Holdings Bhd has returned to positive retained earnings, opening the possibility for a move to the Main Market, Hong Leong Investment Bank Bhd (HLIB) said. HLIB said that the company's core net profit for financial year 2025 reached RM28.4 million, in line with expectations at 102 per cent of their full-year forecast. The research firm added that SMRT is projected to register a more substantial increase in earnings for financial year 2026, driven by an expansion in managed sites and steady progress with its key clients, which include Tenaga Nasional Bhd (TNB), Air Selangor, and Indonesia's Perusahaan Listrik Negara (PLN). HLIB also noted that management reported a reduction in TNB's site backlog from 2,000 to roughly 1,800. Meanwhile, the tender for PLN Jakarta Phase 2 has restarted, with the award anticipated between the fourth quarter of 2025 and the first quarter of 2026, suggesting a potential rebound in overseas contributions in the latter half of 2026. "TNB's elevated regulatory period 4 capex should support a more consistent rollout pace, while Air Selangor's order volumes are likely to benefit from the early-2024 water tariff hike, which is expected to catalyse greater investment in non-revenue water reduction. "In the Philippines, the deployment of 1,000 point-of-presence access infrastructure sites will enhance SMRT's recurring income base, with additional upside from connecting the remaining ~2,000 automated teller machines," it said. The research firm noted that, in addition to its core clients, SMRT is aiming to grow its presence in the regional financial services and utility sectors. It plans to leverage its established business model while actively pursuing mergers and acquisitions to drive long-term expansion. HLIB has reaffirmed its 'Buy' rating on SMRT, keeping the target price unchanged at RM2.07, which is based on a 30‑times multiple of the company's earnings per share for financial year 2026. "We continue to favour SMRT for its substantial earnings potential in the utilities and financial services sectors, supported by a growing recurring income base.
Free Malaysia Today
a day ago
- Free Malaysia Today
China's shares extend gains on ample liquidity, trade optimism
Hong Kong's benchmark Hang Seng index traded 0.19% higher.(AP pic) HONG KONG : China stocks inched higher today, extending gains after a decade-high close in the previous session, supported by ample liquidity and sustained optimism over US-China trade negotiations. Hong Kong stocks also posted modest gains. At the midday break, the Shanghai Composite index was up 0.3% at 3,739.26 points, hovering around the highest intraday level since August 2015. China's blue-chip CSI300 index was up 0.13%. Hong Kong's benchmark Hang Seng index traded 0.19% higher. Analysts said market optimism, underpinned by the extension of the US-China trade truce and expectations of a weaker dollar, has driven increased inflows. Last week, the US and China extended a tariff truce for another 90 days, staving off triple-digit duties on each other's goods as US retailers get ready to ramp up inventories ahead of the critical end-of-year holiday season. 'We believe that the recent breakout in A-shares and in the HK market in July-August likely stems primarily from abundant liquidity and rising leverage,' Shujin Chen, China economist at Jefferies, said in a note. 'Local retail investors, as well as passive foreign funds have been increasing allocation to China and Hong Kong stocks,' she added. By sector, rare-earths and liquor stocks led gains in mainland A-shares, rising 2.8 and 2.6%, respectively. Property stocks outperformed in Hong Kong, with mainland developers listed in Hong Kong climbing 1.2%, after Chinese Premier Li Qiang called for forceful measures to stop losses in the property sector. 'With Hong Kong shares rising over 25% this year, there has been 'mild profit-taking/position-squaring' in the market,' said Charu Chanana, chief investment strategist at Saxo. She expects onshore A-shares continue to find near-term support from policy and liquidity, but noted that the next leg up needs broader earnings follow-through beyond state-owned firms, especially given the softer macro. The smaller Shenzhen index was up 0.45%, the start-up board ChiNext Composite index climbed 0.39% and Shanghai's tech-focused STAR50 index was unchanged.
Malay Mail
a day ago
- Malay Mail
Bursa Malaysia opens higher on heavyweight buying amid global caution
KUALA LUMPUR, Aug 19 — Bursa Malaysia opened higher today, extending yesterday's gains, supported by continued buying interest in selected heavyweights amid cautious sentiments on the global economic outlook, a dealer said. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.81 points to 1,587.77 from yesterday's close of 1,584.96. The benchmark index opened 2.47 points firmer at 1,587.43. The market breadth is positive with advancers leading decliners 204 to 109, while 295 counters were unchanged, 1,978 untraded and six suspended. Turnover stood at 120.18 million shares worth RM77.49 million. In a note, Malacca Securities Sdn Bhd expects the local market to remain in cautious mode and trade mixed in the near term, tracking the mixed sentiments on the global market. 'Wall Street ended mixed with investors digesting United States (US) President Donald Trump's meeting with Ukrainian President Volodymyr Zelensky in Washington, while waiting for US Federal Reserve chair Jerome Powell's Jackson Hole speech on rate cut outlook. 'Trump has pledged US security support for Ukraine but hinted that Crimea would remain with Russia, while also raising the prospect of trilateral talks with Putin,' it said. Among the heavyweights, Maybank was 6.0 sen higher at RM9.84, Tenaga Nasional added 4.0 sen to RM13.66 and CIMB improved 1.0 sen to RM7.34, while Public Bank and IHH Healthcare were flat at RM4.46 and RM6.82, respectively. On the actively traded list, TWL Holdings was flat at 2.5 sen, Metronic earned half-a-sen to 1.5 sen and Toyo Ventures went up 2.0 sen to 37 sen, while Steel Hawk slipped 1.0 sen to 56 sen. On the broader market, the FBM Emas Index advanced 21.46 points to 11,800.26, the FBMT 100 Index gained 21.57 points to 11,584.16, the FBM Emas Shariah Index secured 19.40 points to 11,713.03, and the FBM Mid 70 Index rose 35.97 points to 16,710.54, while the FBM ACE Index bagged 7.91 points to 4,722.13. By sector, the Financial Services Index climbed 35.23 points to 18,165.60, the Plantation Index fell 16.11 points to 7,518.66, the Energy Index edged up 3.26 points to 741.61, and the Industrial Products and Services Index earned 0.17 of a point to 158.20. — Bernama
