Latest news with #830
New Straits Times
3 days ago
- Business
- New Straits Times
Tariff uncertainty casts shadow over Ann Joo outlook
KUALA LUMPUR: Ann Joo Resources Bhd's performance is expected to remain subdued in the second quarter of 2025 as tariff uncertainties continue to pressure the group's domestic and export sales, said CIMB Securities Research. According to the firm, the local steel industry is monitoring any indirect impact from a potential diversion of Chinese steel products. However, it noted that China exported only 40,000 tonnes of long-steel products such as rebar and billets to the United States in 2024, accounting for less than 0.1 per cent of its total steel exports. As of May 29, local rebar prices had declined to RM2,422 per tonne from about RM2,800 per tonne in November 2024, but remained 32 per cent above Chinese rebar prices, which stood at RM1,830 per tonne. Even so, the firm expects China's planned production cuts to provide support to global steel markets if implemented in the second half of the year. "On the demand side, Ann Joo's order flow visibility could improve alongside the gradual rollout of major infrastructure initiatives in Malaysia and another S$35 billion to S$39 billion worth of big-ticket awards in Singapore," it said. Meanwhile, CIMB Securities said Ann Joo's first-quarter results fell short of expectations, with core losses of RM109 million as revenue declined 18 per cent year-on-year. It attributed the weaker performance to lower selling prices and sales tonnage, amid renewed concerns over reciprocal tariffs imposed by the US administration, which have dampened sentiment in international steel markets. "We now project Ann Joo to post financial year 2025 (FY25) core losses of RM178 million and we have cut our FY25 to FY26 core profit estimates by 4-8 per cent to between RM64 million and RM87 million. "Following the earnings downgrade, we lower our target price for Ann Joo to 83 sen from RM1.02," it said, while maintaining a "Buy" call on the stock.
The Star
28-05-2025
- Business
- The Star
Days of Play: PlayStation 5 consoles available from RM1,830 for a limited time
In an announcement on the PlayStation blog, the PlayStation 5 Digital Edition is now available for RM1,830 (normal price: RM2,069) while PS5 is listed for RM2,260 (NP: RM2,499). — Bloomberg PlayStation's Day of Play starts today (May 28) and will run until June 11, as an event to reward the community with limited-time offers on consoles, games and more. In an announcement on the PlayStation blog, the PlayStation 5 Digital Edition is now available for RM1,830 (normal price: RM2,069) while the PS5 is listed for RM2,260 (NP: RM2,499). The PS5 Pro console is available for RM3,610 (NP: RM3,849). The PlayStation VR2 is also being offered at RM1,860 (NP: RM2,099). As for games, a number of popular titles are available for sale on the PlayStation Store including Astro Bot (RM206.67), Tekken 8 (RM141.93) and EA Sports FC 25 (RM60.93). The games were originally priced between RM249 to RM305. Looking to save on a PlayStation Plus subscription after Sony announced a price adjustment last month? Gamers may be able to save up to 33% on select 12-month memberships. Discounts vary based on region/tier and eligibility. Users can sign in to their PlayStation Network account to find out more. Days of Play deals are available at participating retail outlets.
