Latest news with #99SpeedMart
Free Malaysia Today
4 hours ago
- Business
- Free Malaysia Today
EPF clarifies it bought 0.07% in 99 Speed Mart, and not 5%
The EPF now has a 5.02% stake in 99 Speed Mart, making it a substantial shareholder. (99 Speedmart pic) PETALING JAYA : The Employees Provident Fund (EPF) clarified it only bought a 0.07% stake in 99 Speed Mart Retail Holdings Bhd in its latest acquisition last week. In a rather embarrassing development, EPF issued an 'amended announcement' in a filing with Bursa Malaysia today stating it bought six million shares in the minimart chain operator on June 4. In its bourse filing yesterday, the provident fund announced it acquired 421.79 million shares, or a 5.02% stake, on June 4. Today's filing implies that EPF had previously accumulated a total of 4.95% equity interest in the country's largest operator of grocery stores. The acquisitions were made through Citigroup Nominees (Tempatan) Sdn Bhd. The latest purchase of 0.07% upped its stake to 5.02%, beyond the 5% threshold, thus making EPF a substantial shareholder. 99 Speed Mart's single largest shareholder is its founder and CEO Lee Thiam Wah, who controls 79.68% equity interest in the company. The group was granted a waiver from the Securities Commission Malaysia from having to meet the minimum 25% public spread requirement for its listing exercise. 99 Speed Mart ended the day up 9 sen or 4.3% at RM2.19, valuing it at RM18.4 billion. Its shares have dropped 11% year to date. Despite that, the stock has jumped almost 33% since the company was listed last September at an IPO price of RM1.65. The listing was Malaysia's largest in seven years and catapulted the wheelchair-bound Lee to billionaire status. Forbes ranks him at No 8 in its Malaysia's 50 Richest list, with a net worth of US$4.1 billion (RM17.37 billion). Lee, 61, who contracted polio as an infant, started his entrepreneurial journey by selling snacks by the roadside as a teenager. 99 Speed Mart kicked off its first quarter ended March 31 (Q1 FY2025) with a robust 7.5% rise in net profit to RM143.18 million despite rising uncertainty in the Malaysian economy. Its revenue grew at a similar pace, rising 7.7% to RM2.61 billion from RM2.43 billion in Q1 FY2024, driven by stronger retail sales and network expansion.
The Sun
9 hours ago
- Business
- The Sun
KLCI up 0.14 pct at mid-afternoon, broader market weaker
KUALA LUMPUR: Kuala Lumpur shares turned mixed at mid-afternoon, mirroring regional peers, as the broader market weakened with losers outpacing gainers, although mild buying support was seen in the benchmark index components. At 3 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.17 points, or 0.14 per cent, to 1,521.58 from Monday's close of 1,519.41. The benchmark index opened 0.30 points higher at 1,519.71. Decliners edged advancers 425 versus 380 on the broader market, while a total of 492 counters were unchanged, 1,072 untraded and 11 suspended. Turnover stood at 2.01 billion units valued at RM1.05 billion. Markets across the region saw mixed performance; Singapore's Straits Times Index (STI) shed 0.26 per cent to 3,926.13, Hong Kong's Hang Seng Index fell 0.19 per cent to 24,136.66, South Korea's Kospi increased by 0.56 per cent to 2,871.85, and Japan's Nikkei 225 edged up by 0.32 per cent to 38,211.51. Of the heavyweights, 99 Speed Mart jumped 10 sen to RM2.20, Axiata advanced six sen to RM2.09, Press Metal was four sen higher at RM5.04, and Telekom Malaysia added seven sen to RM6.63. The top losers in the broader market were led by Dutch Lady, which lost 62 sen to RM29.08, Ayer Holdings erased four sen to RM7.20, Hong Leong Bank trimmed 18 sen to RM19.52, and Southern Acids lost 17 sen to RM2.93. Among the most active stocks, MYEG, Harvest Miracle and NexG were all flat at 94.5 sen, 18 sen and 37 sen, respectively, while Tanco eased three sen to 96 sen. On the index board, the FBM Emas Index added 23.29 points to 11,416.48, the FBMT 100 Index gained 25.24 points to 11,183.71, and the FBM Emas Shariah Index climbed 27.66 points to 11,391.70, and the FBM 70 Index advanced 73.93 points to 16,483.24. However, the FBM ACE Index slid by 0.57 of-a-point to 4,511.56. Sector-wise, the Financial Services Index shed 12.11 points to 17,720.08, the Energy Index put on 3.83 points to 724.69, the Industrial Products and Services Index perked up 0.13 points to 152.47, and the Plantation Index declined 11.19 points to 7,237.64.
The Sun
9 hours ago
- Business
- The Sun
Bursa Malaysia turns mixed at midday, KLCI edges higher
KUALA LUMPUR: Kuala Lumpur shares turned mixed at mid-afternoon, mirroring regional peers, as the broader market weakened with losers outpacing gainers, although mild buying support was seen in the benchmark index components. At 3 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.17 points, or 0.14 per cent, to 1,521.58 from Monday's close of 1,519.41. The benchmark index opened 0.30 points higher at 1,519.71. Decliners edged advancers 425 versus 380 on the broader market, while a total of 492 counters were unchanged, 1,072 untraded and 11 suspended. Turnover stood at 2.01 billion units valued at RM1.05 billion. Markets across the region saw mixed performance; Singapore's Straits Times Index (STI) shed 0.26 per cent to 3,926.13, Hong Kong's Hang Seng Index fell 0.19 per cent to 24,136.66, South Korea's Kospi increased by 0.56 per cent to 2,871.85, and Japan's Nikkei 225 edged up by 0.32 per cent to 38,211.51. Of the heavyweights, 99 Speed Mart jumped 10 sen to RM2.20, Axiata advanced six sen to RM2.09, Press Metal was four sen higher at RM5.04, and Telekom Malaysia added seven sen to RM6.63. The top losers in the broader market were led by Dutch Lady, which lost 62 sen to RM29.08, Ayer Holdings erased four sen to RM7.20, Hong Leong Bank trimmed 18 sen to RM19.52, and Southern Acids lost 17 sen to RM2.93. Among the most active stocks, MYEG, Harvest Miracle and NexG were all flat at 94.5 sen, 18 sen and 37 sen, respectively, while Tanco eased three sen to 96 sen. On the index board, the FBM Emas Index added 23.29 points to 11,416.48, the FBMT 100 Index gained 25.24 points to 11,183.71, and the FBM Emas Shariah Index climbed 27.66 points to 11,391.70, and the FBM 70 Index advanced 73.93 points to 16,483.24. However, the FBM ACE Index slid by 0.57 of-a-point to 4,511.56. Sector-wise, the Financial Services Index shed 12.11 points to 17,720.08, the Energy Index put on 3.83 points to 724.69, the Industrial Products and Services Index perked up 0.13 points to 152.47, and the Plantation Index declined 11.19 points to 7,237.64.
The Star
11 hours ago
- Business
- The Star
99 Speed Mart clarifies EPF acquired 0.07% stake, raising holding to 5.02%
PETALING JAYA: The Employees Provident Fund (EPF) has emerged as a substantial shareholder in 99 Speed Mart Retail Holdings Bhd after acquiring a 0.07% stake in the company. In an amended filing with Bursa Malaysia, the EPF clarified that it had acquired six million shares in the minimart chain operator on June 4 and not 421.79 million shares or a 5.02% stake as previously disclosed on Monday. The 0.07% stake purchase, which raised the EPF's stake in 99 Speed Mart to 5.02%, is beyond the 5% threshold required to be deemed a substantial shareholder. In its first quarter ended March 31, 2025, 99 Speed Mart's net profit rose to RM143.18mil from RM133.15mil in the previous corresponding period, while revenue grew to RM2.6bil from RM2.4bil a year earlier. The increase in revenue led to a 11.3% rise in gross profit to RM314.5mil, accompanied by a slight improvement in the gross profit margin, mainly due to the increase in promotional discounts and achievement of target incentives during the period.
Malay Mail
13 hours ago
- Business
- Malay Mail
Bursa holds gains at lunch break despite softer market sentiment
KUALA LUMPUR, June 10 — Bursa Malaysia ended the morning trading session in positive territory, though the tone remained soft due to mixed regional performances, with buying interest expected to shift towards fundamentally strong companies. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.08 points to 1,521.49, from Monday's close of 1,519.41. The benchmark index opened 0.30 points higher at 1,519.71, and subsequently fluctuated between 1,517.74 and 1,522.30 throughout the session. Advancers edged ahead of decliners at 384 versus 381 on the broader market, while a total of 466 counters were unchanged, 1,138 untraded and 11 suspended. Turnover stood at 1.79 billion units, valued at RM883.18 million. Malacca Securities Sdn Bhd said the local bourse is expected to see subdued trading, as investors' attention may shift to fundamentally strong companies. Wall Street is expected to focus on the United States-China trade talks, which have driven modest gains in equities as officials hinted at progress ahead of the resumption of negotiations on Tuesday. 'As the market factors a rate-cut environment, Real Estate Investment Trusts could attract interest due to their healthy yields of over four per cent,' it said in a research note today. Among the heavyweights, 99 Speed Mart added nine sen to RM2.19, Axiata was six sen better at RM2.09, Public Bank rose two sen to RM4.28 and Telekom Malaysia added nine sen to RM6.65, while MR DIY and Press Metal bagged three sen each to RM1.64 and RM5.03, respectively. As for the most active stocks, MYEG, Harvest Miracle and NEXG were all flat at 94.5 sen, 18 sen and 37 sen, respectively, while Tanco lost 2.5 sen to 96.5 sen. On the index board, the FBM Emas Index added 24.54 points to 11,417.73, the FBMT 100 Index gained 24.84 points to 11,183.31, and the FBM Emas Shariah Index climbed 30.60 points to 11,394.64. The FBM 70 Index advanced 74.24 points to 16,483.55, while the FBM ACE Index erased 5.83 points to 4,506.30. Sector-wise, the Energy Index gained 1.19 points to 722.05, and the Industrial Products and Services Index perked up 0.12 of a point to 152.46. Meanwhile, the Financial Services Index eased 3.35 points to 17,728.85 and the Plantation Index declined 13.21 points to 7,235.62. — Bernama
