Latest news with #BursaMalaysia
The Star
5 hours ago
- Business
- The Star
Zetrix AI exits foreign worker permit renewal
PETALING JAYA: Zetrix AI Bhd, formerly known as MyEG Services Bhd , is no longer involved in the renewal of foreign worker permits. In a filing with Bursa Malaysia yesterday, the company said the term of its Foreign Worker Permit Renewal Services had ended. 'We would also like to inform that the Malaysian Immigration Department had on July 29, 2025 confirmed that Foreign Worker Permit Services are a module under the scope of the National Integrated Immigration System (NIISe) project, which aims to integrate the border control system under various agencies of the Home Affairs Ministry,' it said. Zetrix AI also clarified that although it no longer renews permits, it remains involved through a collaboration with Heitech Padu Bhd , which was awarded the project to implement NIISe, under a teaming agreement. — Agencies
The Star
6 hours ago
- Business
- The Star
Fire causes RM30mil losses to Yoong Onn
PETALING JAYA: Yoong Onn Corp Bhd has incurred an estimated loss of RM30mil as a result of the fire that broke out at the Singapore factory and warehouse of its 60%-owned subsidiary, T.C. Homeplus Pte Ltd on May 9. In a filing with Bursa Malaysia, the home linen and bedding accessories retailer said the loss arose from the damage to property, plant and equipment inventories. 'The aforesaid amount is subject to further verification and finalisation with the insurer and adjuster team. 'As stated in the previous announcement dated May 13, 2025, T.C. Homeplus has insurance coverage of RM23mil for property damage and stock in trade and RM15mil for business interruption of up to six months,' it said. Yoong Onn added that it would make further announcements when there are new developments on the financial impact and the insurance claims.
New Straits Times
13 hours ago
- Business
- New Straits Times
IGB REIT net profit rises to RM92.51mil in second quarter on higher rental income
KUALA LUMPUR: IGB Real Estate Investment Trust's net profit rose to RM92.51 million in the second quarter ended June 30, 2025 (2Q 2025), compared to RM81.55 million in the same period a year ago. Revenue also increased to RM160.09 million from RM149.97 million previously, mainly due to the higher rental income in 2Q 2025, according to a Bursa Malaysia filing today. Regarding its prospects, the company said that despite the softer retail outlook, with Retail Group Malaysia revising its full-year 2025 retail sales growth forecast down to 3.1 per cent from 4.3 per cent, it remains optimistic on long-term opportunities through its expansion strategy, such as the proposed acquisition of The Mall, Mid Valley Southkey. "The Johor retail market benefits from initiatives such as the Johor-Singapore Special Economic Zone, the Rapid Transit System Link, and strong cross-border spending. Subject to completion, the acquisition will enhance and diversify IGB REIT's portfolio," it added. For the first half of the year, IGB REIT's net profit also improved to RM199.08 million from RM181.16 million a year ago, while revenue advanced to RM331.53 million from RM312.53 million previously.
New Straits Times
13 hours ago
- Business
- New Straits Times
DXN 1Q net profit dragged down by forex losses
KUALA LUMPUR: DXN Holdings Bhd's net profit fell by 13.6 per cent to RM73.91 million in the first quarter ended May 31, 2025 (1Q FY2026) from RM85.56 million in the same period last year due to foreign exchange (forex) losses stemming from the strengthening of the ringgit. Revenue, however, edged up 0.8 per cent to RM479.06 million against RM475.05 million previously, the health and wellness consumer product manufacturer said. "This modest growth was primarily driven by continued sales expansion in local currencies, which was partially offset by unfavourable currency translation effects arising from depreciation of the overseas market currencies against the ringgit," it said in a filing with Bursa Malaysia today. DXN said the board has declared a first interim dividend of 0.9 sen per share for 1Q FY2026, involving a payout of RM44.75 million, which will be paid on Aug 29, 2025. This represents a 60.5 per cent payout ratio. In a separate statement, DXN said the group remains positive on its FY2026 prospects despite forex volatility and broader macroeconomics headwinds. "DXN is investing in new manufacturing capacity in Peru and Morocco as well as in Kedah and Kelantan. These developments will enable faster market responsiveness, reduce logistics complexity and support more sustainable, localised production. "They are part of DXN's long-term strategy to strengthen its global supply network while improving both cost and carbon efficiency," it added. -- BERNAMA
Free Malaysia Today
14 hours ago
- Business
- Free Malaysia Today
Late selling drags Bursa to intraday low ahead of 13MP
KUALA LUMPUR : Bursa Malaysia ended at its intraday low today, pressured by late selling as investors positioned themselves ahead of the 13th Malaysia Plan (13MP) announcement on Thursday. Apart from that, investors are awaiting fresh catalysts from the outcome of the US federal open market committee (FOMC) meeting scheduled on July 29-30, amid ongoing US-China trade talks in Stockholm. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan said investors appear to be positioning their portfolios/strategies ahead of potential domestic fiscal support, especially if external trade conditions deteriorate. 'The 13MP, to be unveiled in Parliament on Thursday under the Madani framework, will reinforce the government's pro-growth trajectory, with a strong emphasis on infrastructure and industrial development,' he told Bernama. Sedek said the FTSE Bursa Malaysia KLCI (FBM KLCI) closed lower today as sentiment turned increasingly cautious ahead of key global policy events. He said market focus is now on the FOMC meeting as it is expected that the Federal Reserve (Fed) will leave rates unchanged, and the committee's forward guidance will be more closely scrutinised. 'In light of reduced tariff uncertainty from recent trade deals, Fed chairman Jerome Powell may choose to maintain flexibility for a September move. 'Markets appear to be pricing in this optionality, while remaining highly sensitive to the interplay between global policy risk and domestic macroeconomic resilience,' he said. He further noted that the positive signals from the US-China trade talks in Stockholm further buoyed market sentiment. 'The meeting between US Treasury secretary Scott Bessent and Chinese vice-premier He Lifeng, which focussed on addressing global economic imbalances, was seen as a constructive step ahead of the Aug 1 tariff deadline, helping to reduce geopolitical risk premiums. 'As such, investor reaction remains more measured, perhaps reflecting increased confidence in diplomatic engagement or reduced expectations of immediate escalation,' he noted. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng anticipates the local index to remain cautious as underlying sentiment continues to be weighed down by external uncertainties and inconsistent fund flows. 'With lingering concerns over global trade developments, monetary policy shifts, and foreign fund outflows, the broader outlook remains fragile. 'As such, we maintain our weekly FBM KLCI target at 1,510-1,540,' said Thong. At 5pm, the FBM KLCI fell 5.56 points, or 0.36%, to close at 1,523.82 from yesterday's close of 1,529.38. The benchmark index opened 0.20 of-a-point firmer at 1,529.58 and subsequently hit its highest level of 1,537.62 in early trade before trending downward for the rest of the day. In the broader market, losers led gainers 603 to 365, while 506 counters were unchanged, 1,047 untraded and 44 suspended. Turnover improved to 3.36 billion units worth RM2.18 billion from 3 billion shares worth RM2.3 billion yesterday. Heavyweights Maybank lost two sen to RM9.52, Public Bank and Tenaga Nasional fell four sen each to RM4.21 and RM13.32, respectively, CIMB slipped 11 sen to RM6.64, and IHH Healthcare decreased six sen to RM6.60. Among the most active stocks, ACE debutant Oxford Innotech gained 9.5 sen to 38.5 sen, Zetrix AI climbed one sen to 84.5 sen, NexG was flat at 53 sen, while Focus Dynamics eased 0.5 sen to 0.5 sen and Ekovest shed 3.5 sen to 40.5 sen. Among top gainers and decliners, Allianz Malaysia added 40 sen to RM17.70, Petronas Dagangan advanced 26 sen to RM21.70, and Petronas Chemicals garnered 18 sen to RM3.79. Top losers were Panasonic Manufacturing, which slid 36 sen to RM10.52, while Kuala Lumpur Kepong trimmed 28 sen to RM19.52. Across the broader market, the FBM Emas Index dropped 32.07 points to 11,440.13, the FBMT 100 Index slipped 30.92 points to 11,201.53, and the FBM Emas Shariah Index lost 11.95 points to 11,478.09. The FBM 70 Index eased 2.20 points to 16,528.21 and the FBM ACE Index fell 9.98 points to 4,626.62. By sector, the industrial products and services index inched up 1.99 points to 159.38, the energy index edged up 2.93 points to 743.72, while the financial services index tumbled 99.03 points to 17,309.34, and the plantation index sank 68.20 points to 7,395.03. The Main Market volume declined to 1.48 billion units valued at RM1.87 billion from 1.67 billion units valued at RM2.03 billion yesterday. Warrants turnover climbed to 1.1 billion units worth RM183.9 million from 1.01 billion units worth RM161.01 million previously. The ACE Market volume surged to 772.91 million units worth RM121.4 million from 323.13 million units worth RM106.95 million yesterday. Consumer products and services counters accounted for 213.86 million shares traded on the Main Market; industrial products and services (240.5 million), construction (165.43 million), technology (252.46 million), SPAC (nil), financial services (69.21 million), property (156.13 million), plantation (12.33 million), REITs (28.54 million), closed-end fund (1,000), energy (95.71 million), healthcare (134.24 million), telecommunications and media (30.26 million), transportation and logistics (44.63 million), utilities (40.6 million), and business trusts (242,800).
