Trading ideas: MMAG, Keyfield, KAB, Rimbunan Sawit, Jentayu, AYS, Country Heights, Metronic, Nestle, ViTrox, Oriental Interest, KIP REIT, Luxchem, Betamek
Keyfield International Bhd has secured 2 work orders from Petronas Carigali Sdn Bhd for the provision of accommodation work boats to support the national oil company's offshore operations.
Kinergy Advancement Bhd has secured fee-in approvals for two hydropower projects with a total installed capacity of 8.04MW under the Sustainable Energy Development Authority's FiT 2.0 initiative.
Rimbunan Sawit Bhd has announced the termination of its JV with LCDA Holdings Sdn Bhd to develop a parcel of native customary rights land in Ulu Selangau, Sibu into an oil palm plantation.
Jentayu Sustainables Bhd said Sumitomo Corporation does not intend to extend a MoU the parties signed 2 years ago to collaborate on renewable energy projects.
AYS Ventures Bhd said the voluntary takeover offer by its associate company 3HA Capital Pte Ltd for all shares in Singapore-listed CosmoSteel Holdings Ltd has become unconditional, after 3HA Capital's shareholding crossed the 50% threshold.
Country Heights Holdings Bhd 's wholly-owned unit, Country Heights Commercial Development Sdn Bhd has been served with a winding-up petition by the Inland Revenue Board over RM312,560 in unpaid taxes.
Metronic Global Bhd is ending its JV with Zhuhai SingYes New Materials Technology Co Ltd to develop and market smart city solutions across the country.
Nestlé (Malaysia) Bhd's net profit rose 20.0% YoY to RM112.1mn in 2QFY25, thanks to a disciplined focus on operational efficiency and a prudent pricing strategy, which helped offset rising input costs.
Vitrox Corporation Bhd reported a flat net profit of RM28.1mn in 2QFY25, despite a 33.4% YoY increase in revenue to RM 183.0mn due to a sharp rise in tax provision following the expiration of its pioneer status in mid-June.
Oriental Interest Bhd reported its highest-ever quarterly net profit of RM45.5mn for 3QFY25, driven by record revenue of RM305.3mn from construction progress of ongoing projects and contribution from newly launched developments.
KIP Real Estate Investment Trust 's FY25 net property income surged 24.4% YoY to RM96.8mn, mainly driven by the contribution from its 7 KIPMalls and its 4 industrial properties, as well as the newly bought D'pulze Shopping Centre and TF Value-Mart.
Luxchem Corporation Bhd 's 2QFY25 net profit declined by 27.1% YoY to RM8.9mn amid lower sales from its business segments.
Betamek Bhd 's 1QFY26 net profit rose 10.5% YoY to RM5.4mn due to consistent favourable performance of the ringgit against the USD and the CNY as well as the better expenses monitoring by each unit of the group.
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New Straits Times
44 minutes ago
- New Straits Times
BOJ may paint less gloomy view, signal rate-hike resumption
TOKYO: The Bank of Japan (BOJ) is set to hold off raising interest rates on Thursday, but may offer a less gloomy view on the outlook after Tokyo's trade agreement with the United States last week, signalling rate hikes may resume later this year. Receding global trade tensions following Sunday's agreement between the US and the European Union add relief for BOJ policymakers on the outlook of Japan's export-heavy economy. But the BOJ is likely to warn of lingering uncertainty on how US tariffs affect business activity, with the hit to exports seen intensifying later this year, analysts say. "It's very big progress that reduces uncertainty for Japan's economy – but obviously, some uncertainty remains," BOJ Deputy Governor Shinichi Uchida said last week on the Japan-US trade deal. Uchida noted questions around how soon Washington strikes trade deals with other countries, how the tariffs affect domestic and global economies, and how long it could take for the tariffs' effects to be seen in hard data. At the two-day meeting ending on Thursday, the BOJ is widely expected to keep short-term interest rates steady at 0.5 per cent. Markets are focusing on the bank's quarterly outlook report and Governor Kazuo Ueda's post-meeting news conference for clues on the timing of the next rate hike. A Reuters poll, taken before last week's Japan-US trade deal announcement, showed a majority of economists expect the BOJ to raise rates again by year-end. In the quarterly report, the BOJ is likely to revise up this fiscal year's inflation forecast due to persistent rises in rice and other food costs, sources have told Reuters. The BOJ may also tweak its current view that risks to the price outlook were skewed to the downside, and offer a less gloomy view on the economy compared with the current one focused on tariff-induced risks, according to separate sources. The board is likely to maintain its view that inflation will durably hit its 2.0 per cent target in the latter half of its three-year projection period running through fiscal 2027, they said. In current projections made on May 1, the BOJ projects core consumer inflation to hit 2.2 per cent in fiscal 2025, before slowing to 0.7 per cent in 2026 and 0.9 per cent in 2027. Japan struck a trade deal with President Donald Trump last week that lowers US tariffs for imports of goods including its mainstay automobiles, easing the pain for the export-reliant economy and clearing a key hurdle for further BOJ rate hikes. The positive development contrasts with the gloom that surrounded the economy on May 1, when the BOJ produced its current estimates amid heightened market volatility caused by Trump's April announcement of sweeping "reciprocal" tariffs. The BOJ exited a decade-long, massive stimulus last year and raised its short-term policy rate to 0.5 per cent in January on the view Japan was progressing towards durably achieving its price goal. With rising food costs hurting households and keeping inflation above its 2.0 per cent target for three years, some hawkish board members have highlighted mounting price pressures that could justify resuming rate hikes.
New Straits Times
44 minutes ago
- New Straits Times
CK Hutchison wants Chinese firm to join bidding for its US$22.8 billion ports business
HONG KONG: CK Hutchison said on Monday it wants a major Chinese strategic investor to join the BlackRock-led consortium bidding for its US$22.8 billion ports business, after media reported that state-owned China COSCO Shipping Corp aims to join the group. The Hong Kong conglomerate in a statement said changes to the composition of the consortium and structure of the transaction will be necessary to secure regulatory approval, and that it will allow as much time as needed to achieve that. A 145-day exclusivity period for talks between the parties expired on Sunday. CK Hutchison's Hong Kong-listed shares were due to open higher just shy of one per cent on Monday. A deal would cover 43 ports in 23 countries including two ports near the Panama Canal which links the Atlantic and Pacific oceans. US President Donald Trump initially hailed the sale as "reclaiming" the Panama Canal after his administration called for the removal of what it said was Chinese ownership of some ports. US investment firm BlackRock declined to comment. COSCO, Italian consortium member MSC and the White House did not immediately respond to requests for comment. China views the potential sale as a threat to its interests, seeing the consortium as a proxy for growing American influence in a region it considers economically and geopolitically significant. State-backed media, in criticism of the sale, said China has significant national interests in the matter and that selling the ports would be a betrayal of the country. China's top market regulator said it was paying close attention to developments and stressed the deal would be subject to a Chinese antitrust review. CK Hutchison in its statement said any new investor must be a "significant" member of the consortium. "This is an interesting development. A PRC (China) investor with majority control of the consortium sounds like a non-starter in my view. An investor with a less than 50 per cent stake you would think should keep everyone happy," said strategist David Blennerhassett of Ballingal Investment Advisors who publishes on SmartKarma.
The Sun
44 minutes ago
- The Sun
Oil prices rise as US-EU trade deal eases demand concerns
SINGAPORE: Oil prices edged higher on Monday as optimism over a US-EU trade deal and potential US-China tariff negotiations eased concerns about economic slowdowns impacting fuel demand. Brent crude futures rose 22 cents to $68.66 a barrel, while US West Texas Intermediate crude gained 22 cents to $65.38. 'The US-EU trade deal and possible extension of the US-China tariff pause are supporting global financial markets and oil prices,' said IG markets analyst Tony Sycamore. The agreement imposes a 15% tariff on most EU goods, avoiding a larger trade war between the two economic powerhouses. US and Chinese negotiators are set to meet in Stockholm to discuss extending a tariff truce ahead of an August 12 deadline. Meanwhile, Venezuela's state-run PDVSA is preparing to resume operations under Biden-era licenses if US sanctions are lifted, potentially increasing global supply. OPEC+ is expected to keep its current output policy unchanged at Monday's meeting, with eight members already set to increase production by 548,000 barrels per day in August. Analysts note that summer demand is helping absorb additional supply, with global oil demand rising by 600,000 bpd in July. In the Middle East, Yemen's Houthis warned of targeting ships linked to Israeli ports, adding geopolitical risks that could influence oil markets. - Reuters
