Latest news with #99SpeedMartRetailHoldingsBhd
The Star
13 hours ago
- Business
- The Star
Trading ideas: Yinson, 99 Speed Mart, Sealink, Citaglobal, Chin Well
KUALA LUMPUR: Here are some stocks that could see trading interest today following their latest news, including Yinson Holdings Bhd , 99 Speed Mart Retail Holdings Bhd, Sealink International Bhd , Citaglobal Bhd , and Chin Well Holdings Bhd . Yinson has clarified that it is not in discussions with any third parties regarding a buyout exercise. However, the group said its executive chairman, Lim Han Weng, is currently engaged in 'exploratory discussions' with various parties concerning potential corporate proposals related to its shareholding. The Employees Provident Fund (EPF) has acquired a 5.02% stake in 99 Speed Mart through a direct off-market transaction. Citaglobal has appointed 27-year-old Tengku Muhammad Iskandar Ri'ayatuddin Shah (Tengku Arif Bendahara) as an independent and non-executive director. Tengku Arif Bendahara is the son of the Sultan of Pahang, Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah. Sealink announced that access to its vessel, which was damaged by a fire in Brazil last month, remains restricted due to the current site conditions. As a result, the company said that a full on-site assessment of the vessel and the extent of the damage has been delayed. Overnight, the S&P 500 climbed 0.09% to end the session at 6,005.88 points. The Nasdaq gained 0.31% to 19,591.24 points, while the Dow Jones Industrial Average ended essentially unchanged at 42,761.76 points.
New Straits Times
a day ago
- Business
- New Straits Times
CIMB: Sales boost for 99 Speed Mart with longer hours
KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd is set to increase sales by standardising longer operating hours at all its outlets nationwide, said CIMB Securities Sdn Bhd. The firm noted that the extended hours will enhance customer convenience and drive higher revenue per outlet. "This will support our annual same-store sales growth forecast of 1.4 per cent for financial years 2025 to 2027 (FY25–27), with growth already tracking at 1.7 per cent in the first quarter of 2025," it said in a note. The mini-market operation recently announced that all its outlets nationwide will start opening earlier, from 9am to 10am daily, effective July 1. The move is in line with its goal of enhancing customer convenience and adapting to evolving shopping patterns. CIMB noted that about 80 per cent to 85 per cent of 99 Speed Mart's 2,883 outlets had already been following the revised operating hours for nearly a year. The recent announcement, it said, formalises the standardisation of these hours across all locations. "Assuming that 15 per cent to 20 per cent of the company's outlets will be positively affected by the one-hour extension to operating hours, we estimate a potential topline uplift of 1.0 per cent to 1.2 per cent in FY25–27," the firm added. CIMB Securities said it is maintaining its earnings per share forecasts for FY25–27, along with its "Buy" rating and target price of RM2.60 for 99 Speed Mart. The firm said the company's current premium price-to-earnings (P/E.) valuation of 32 times, compared to the consumer sector average of 28 times, is justified. This is supported by 99 Speed Mart's stronger earnings growth prospects with a three-year compound annual growth rate of 14.3 per cent from 2024 to 2027, a superior return on equity (ROE) of 32–34 per cent for FY25-27 and its dominant market share in Malaysia's mini-market retail segment. The firm noted that the downside risks include weaker-than-expected consumer sentiment, increased competition leading to weaker-than-expected sales and a sharp dip in gross profit margins due to a ramp-up in promotional activities or stiffer competition.
New Straits Times
5 days ago
- Business
- New Straits Times
99 Speed Mart extends hours, opens at 9am from July 1
KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd has announced that its outlets nationwide will extend their operating hours, opening from 9am onwards effective July 1. In a statement today, the home-grown mini market chain retailer said this is in line with its commitment to enhance customer convenience and better align with shopping patterns. "This initiative reflects our dedication to elevating the customer experience while reinforcing our leadership position in the mini market retail space," said chief executive officer and founder Lee Thiam Wah. The announcement followed the company's second annual general meeting (AGM) held earlier today, during which all resolutions were approved by shareholders. The group said the audited financial statements for the financial year ended Dec 31, 2024, along with the directors and auditors report were presented and received by the shareholders. All incumbent directors standing for re-election were re-appointed and Messrs Crowe Malaysia PLT was re-appointed as the company's external auditor for the financial year ending Dec 31, 2025. Lee said the unanimous approval of the resolutions represents a strong endorsement of 99 Speed Mart's strategy and long-term vision. "As we look ahead, we remain focused on deepening our nationwide presence, strengthening our distribution network, and driving sustainable value creation for all stakeholders," he said.
New Straits Times
16-05-2025
- Business
- New Straits Times
99 Speed Mart's 1Q25 net profit rises to RM143mil
KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd's net profit for the first quarter ended March 31, 2025 (1Q 2025) rose to RM143.18 million from RM133.15 million in the same period last year. Revenue for the quarter under review increased to RM2.61 billion from RM2.43 billion previously, marking a 7.7 per cent rise, driven by the year-on-year expansion of 246 new outlets, bringing the total number of outlets to 2,833 as at March 31, 2025. In a filing with Bursa Malaysia today, the home improvement retailer said the higher revenue led to an 11.3 per cent increase in gross profit to RM314.5 million, accompanied by a slight improvement in the gross profit margin. "(This was) mainly due to the increase in promotional discounts and achievement of target incentives in the 1Q 2025," it said. On prospects, the group said it remains committed to promoting affordability and accessibility. "This commitment is reflected in our pricing strategies, carefully curated product selections, and strategic outlet placements, ensuring that everyday essentials remain within reach for all segments of the community. "Through this approach, we aim to enhance customer convenience and support cost-conscious households, while reinforcing our role as a trusted and inclusive retail brand," it said. The company said it is targeting the commencement of operations for a new distribution centre in Cyberjaya, Selangor, by the 2Q 2025. "With a built-up area of approximately 120,000 square feet, this facility is expected to support around 200 outlets in and around the Cyberjaya region, while further enhancing the distribution capacity of our bulk sales e-commerce platform," it said. The company also declared a first interim dividend of 2.25 sen per ordinary share, amounting to approximately RM189.0 million, in respect of the financial year ending Dec 31, 2025, payable on June 9, 2025.
The Star
15-05-2025
- Business
- The Star
99 Speed Mart's 1Q net profit rises 7.5%, declares 2.25 sen dividend
KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd, which saw its net profit rise 7.5% in the first quarter, has declared a first interim dividend of 2.25 sen per share — its maiden payout since listing last year. The convenience store chain operator said the dividend amounted to about RM189mil for the financial year ending Dec 31, 2025. The entitlement date is fixed on May 29, and payment will be made on June 9. 'In this quarter, we have declared our first dividend since our listing last year, a reflection of our solid financial foundation. 'With a dividend policy of distributing approximately 50% of our net profit, we intend to declare dividends twice annually as part of our commitment to reward shareholders while delivering sustainable long-term value,' founder and chief executive officer Lee Thiam Wah said in a statement. In the first quarter ended March 31 (1Q25), 99 Speed Mart posted a 7.5% increase in net profit to RM143.2mil, up from RM133.1mil a year earlier. Revenue for the quarter climbed 7.6% to RM2.6bil from RM2.4bil, while earnings per share rose to 1.70 sen from 1.59 sen a year ago. 99 Speed Mart said the higher revenue was primarily driven by the year-on-year expansion of the outlet network of 246 outlets, bringing the total to 2,833 outlets as of March 31. During the quarter, total sales transactions rose 7.8% to 119.6 million transactions, with the average basket size remaining stable at RM21.80. 'We are pleased to kick off the financial year with a solid set of results, reflecting our ongoing expansion and the growing traction of 99 Bulksales,' Lee said.
