Latest news with #DC-related
New Straits Times
29-07-2025
- Business
- New Straits Times
IJM set for strong FY26 on data centre push
KUALA LUMPUR: IJM Corporation Bhd is expected to post strong results in financial year 2026 (FY26), driven by its bids to build five data centres (DCs) for major global tech firms, CIMB Securities Research said. The company has already secured three DC contracts in Johor worth a combined RM845 million, bolstering its track record and positioning it well for future DC-related jobs in the Klang Valley. With one of the projects slated for delivery in August, CIMB said IJM is well-positioned to take on more DC contracts. "We have raised our FY26 to FY27 new job win forecasts for IJM by 22–33 per cent to RM6 billion per annum as the company focuses on delivering one or two major data centre (DC) bids worth RM1 to RM2 billion each" the research house said in a note. As at March 31, 2025, IJM's outstanding order book stood at a healthy RM6.6 billion, or 2.6 times its FY25 construction revenue. CIMB Securities has raised its FY26–FY27 new order book assumptions for IJM to RM6 billion annually, up 22 to 33 per cent, citing a more visible tender pipeline. "Yet, our projections are still at the lower end of IJM's RM6 to RM8 billion new contract win target for FY26, suggesting further upside to our earnings forecast. "Backed by a strong balance sheet with FY25 net gearing at 26 per cent, we maintain our 'Buy' rating on IJM with a higher target price of RM3.70, up from RM3.40," it added.
New York Post
10-07-2025
- Politics
- New York Post
Inside Sun Valley's ludicrous, over-the-top security crackdown
SUN VALLEY, Idaho — 'Sir, please come with us so we can talk outside,' said one of the two local police officers who suddenly towered over me in the middle of what must have been my fifth double espresso of the day. What could the law want with me, I wondered, as I rose from my table at the Austrian-themed coffee-and-pastry haunt at this posh mountain resort. Indeed, I felt I had accomplished precious little since I arrived here this week — much less anything that would interest the cops. Instead, I had attempted to cover the Allen and Co. conference — the so-called 'summer camp for billionaires' at the Sun Valley Resort. Attendees at this year's summit include Sam Altman (who actually did give us something to chew on — thanks Sam), Tim Cook, Anderson Cooper and CBS anchor Gayle King. Advertisement 6 A fabulously fluorescent Gayle King was one of the journalists on the guest list. Jenny Flick They might have thick wallets, but these card-carrying, power-vest wearing members of the global elite have thin skins — or is it just the bankers at Allen & Co. and their security goons? The latter, it seemed, had called law enforcement on me. 'We have had complaints that you have been harassing the guests, and you are going to be asked to leave the property,' said the other youngish-looking cop. My crime, it appears, had been to lob a handful of questions in the direction of the president's daughter, Ivanka Trump, and Treasury Secretary Scott Bessent on the luxury resort's lush grounds. Advertisement In the case of Ivanka, I stated my business with a member of her Secret Service detail who promptly crossed the room to inform her. In response, she came over and took my question (about a DC-related exclusive, she politely professed ignorance) before exiting the premises with her coffee. As for Bessent, I had met him at the comparatively relaxed Milken conference in May. We shook hands Wednesday morning before our extremely brief stroll. He gently parried our queries — with his usual South Carolinian politesse — about his speech to America's uber-rich and what he made of Elon Musk's falling out with President Trump. His government heavies did not bat an eyelid — despite what you may have read in one loose-with-the-facts newsletter. Nevertheless, the organizer's security took a great interest in our activities. Advertisement 6 Ivanka Trump was spotted getting coffee at the VIP shindig on Wednesday. Jenny Flick 6 Treasury Secretary Scott Bessent had flown straight from a Cabinet meeting with President Trump to attend the boondoggle for billionaires. Getty Images 'We have a reporter here — asking questions!' rasped one of Allen & Co.'s wannabe Navy SEALs as he alerted his higher-ups. Another by the name of Colby followed me to my car to ensure the message was fully understood. Advertisement Perhaps it was not Team Bessent — said to be huge fans of this newspaper — who wanted me ejected. Maybe my asking a bemused barista for details of Ivanka's coffee order was the straw that broke the camel's back? 6 The idyllic setting has hosted the Allen & Co. conference since 1983. It was once a favorite of author Ernest Hemingway, who spent his final days in Idaho before taking his own life in 1961. Getty Images Soon thereafter, a baby-faced Sun Valley apparatchik, his earpiece dangling down the front of his unironed shirt, bowled up to me and demanded that I put my name to a no-trespass order. The bizarre diktat would ban me from the Sun Valley resort for one year, he intoned. I refused to sign it — but he told me the ban would take effect, anyway. Security huffed and puffed that I had committed the grievous offense of talking to people, as well as 'walking up and down' the premises on my coffee runs to Konditorei, the Austrian-themed cafe. 6 The Sun Valley 'rules' for journalists covering the Idaho conference. James Franey/NY Post Before the constitutional know-it-alls get in touch, I understand the First Amendment does not extend to private property, which in this case has been rented out by Allen & Co, the boutique investment bank behind this conference. But I had hoped to be treated better in the birthplace of free speech, given that back home in Britain standards have been slipping of late. Advertisement Journalists who had schlepped from New York were told in no uncertain terms that if the summit's top brass did not like our coverage, that we would be booted off the premises. 6 The Post's research from Sunday on the Sun Valley Lodge wine list. James Franey/NY Post Sun Valley's head of security, a man who introduced himself only as 'Randy', gave a 'welcome speech' in which he directly cited The Post's coverage from Tuesday. He panned our 'exposé' of the Sun Valley Lodge's pricey wine list and NFL Commissioner Roger Goodell's generous tipping habits. As for this piece, Randy did not reply to The Post's multiple requests for comment. My comment: Loosen up, Randy. A $648 bottle of Louis Roederer Cristal Brut Champagne should do the trick.
The Star
06-05-2025
- Business
- The Star
Gamuda strengthens position in DC landscape
Kenanga Research saw potential for Gamuda to secure significant DC projects. PETALING JAYA: Gamuda Bhd is well poised to strengthen its position as a one-stop data centre (DC) infrastructure provider in Malaysia, say analysts. The group has announced the disposal of a 389.7-acre freehold land in Negri Sembilan to Pearl Computing Sdn Bhd (PCSB) for RM455.2mil in cash. Simultaneously, its subsidiary, Gamuda DC Infrastructure Sdn Bhd, has secured a external infrastructure contract worth RM1bil from PCSB. TA Research has viewed the latest developments as exemplifying Gamuda's strength in offering end-to-end 'land+utility+water' packages for DC-related projects. 'With the disposal expected to conclude by end-2025, we estimate a modest gain of RM30.8mil, before accounting for holding and ancillary costs. 'The RM1bil enabling works contract could also boost Gamuda's year to date job wins to RM26.2bil since financial year 2024 (FY24), raising its total outstanding order book to about RM37bil – equivalent to 3.5 times FY24 construction revenue,' said the research house. Based on Gamuda's management guided pre-tax profit margin of around 8%, TA Research noted the contract is anticipated to contribute RM60.8mil in net profit over the construction period. It remained upbeat on Gamuda's DC job prospects given its management which expressed high confidence in securing at least three new projects from two local developers by year-end. Including other imminent contract win namely the Australian Suburban Rail Loop, Sabah Upper Padas water treatment plant, and additional Taiwan Xizhi Donghu MRT packages totalling RM17bil, TA Research believed the management's internal goal of achieving an unbilled order book of RM40bil to RM45bil is within reach. It has maintained a 'buy' call on the stock with a target price (TP) of RM5.88 per share. Kenanga Research, in a note to clients, also saw potential for Gamuda to secure significant DC projects. It noted the 389-acre land has the capacity to support DC developments of 800MW to 1,000MW. With estimated construction costs of RM18mil to RM20mil per MW, the total potential contract value for this development could be RM14bil to RM20bil, said Kenanga Research. Assuming Gamuda secured half of the contracts over a two-year period, the annual data centre job wins could be RM3.5bil to RM5bil. 'This will surpass our current annual assumption of RM3bil. For every additional RM1bil in DC contracts secured beyond our RM3bil assumption, we estimate a 2.2% increase in FY26 earnings forecast and a seven sen rise in the TP from RM4.90,' added the research house. CGS International Research (CGSI Research) highlighted Gamuda's targeted order book of RM40bil to RM45bil by end of 2025. 'If all of the projects come to fruition and assuming a burn rate of RM1bil per month, Gamuda may end up with an order book of RM59bil by end-2025. Our FY25 and FY26 new order win assumptions are more conservative at RM8bil and RM20bil respectively,' it added. CGSI Research, which liked Gamuda for its diversified order book and growing property business, had reiterated an 'add' call on stock with a TP of RM6. MIDF Research described Gamuda's freehold land sale and the award of a RM1bil enabling works contract as a positive development, which is in line with the group's latest strategy of a differentiated DC delivery. 'Gamuda remains our favourite in the construction sector, backed by its successful overseas expansion plan, consistency in clinching sizeable jobs and being a front runner for most mega projects in Malaysia,' it added, reiterating a 'buy' call on Gamuda with a TP of RM5.42. The counter closed three sen down to RM4.35 yesterday.
Los Angeles Times
27-02-2025
- Business
- Los Angeles Times
Mattel wins back lucrative rights to make DC-themed action figures, other toys
Mattel has reclaimed highly coveted rights to create action figures and collectibles based on DC characters such as Batman and Superman starting in the second half of 2026. 'It's a huge deal. You're dealing with some of the greatest superheroes and some of the best action figure potential in the industry, and we're incredibly excited by that,' said PJ Lewis, Mattel senior vice president and global head of action figures and Fisher-Price Entertainment. Mattel lost the global licensing rights about six years ago to develop and market some DC-related toys to rivals Spin Master and McFarlane Toys. Mattel was still allowed to produce DC-themed toys aimed at girls and preschoolers. The new multiyear deal could help fuel sales for the El Segundo-based toy maker and entertainment company as it competes with contenders such as Hasbro, which produces Marvel superhero action figures. In 2024, Mattel's net sales were $5.4 billion, a 1% drop compared with the same period last year. The company's net income reached $542 million, up from $214 million in 2023. On Wednesday, shares of the company's stock closed at $21.25, an increase of more than 9% compared with a year earlier. Mattel and Warner Bros. Discovery, which owns the DC brand, did not disclose the agreement's financial terms. Licensing agreements such as this one allow a company to make use of intellectual property owned by another entity, typically in exchange for a fee or a percentage of sales. Along with figurines, Mattel will also be able to create and market DC-themed playsets, accessories and role-play products as part of the deal. The agreement includes rights for all DC stories and characters including Wonder Woman, the Joker and Harley Quinn. Last year, global toy sales stabilized, in part due to a growing number of adults who purchased toys for themselves. The toy industry struggled after the closure of retail chain Toys R Us in 2018 and amid inflation, but sales surged during the COVID-19 pandemic, when families looked for ways to keep themselves entertained while locked at home. Licensed toy sales also grew and made up 34% of the global toy market, according to market research firm Circana. 'This renewed partnership will reflect our shared passion for engaging and inspiring fans and collectors of all ages,' Nick Karamanos, Mattel's senior vice president of entertainment partnerships, said in a statement. The announcement also comes as filmmakers work on new DC movies slated to be released in the next several years. The lineup includes 'Superman,' 'Supergirl: Woman of Tomorrow,' 'Clayface' and 'The Batman Part II.' Film releases, comic books, TV shows and social media videos about superheros can bolster excitement about the release of new toys. In the past, Mattel has produced toys tied to the films 'The Dark Knight,' 'Batman v Superman: Dawn of Justice' and 'Justice League.' Mattel has a long history of working with Warner Bros. Discovery to develop dolls, games and other toys based on other popular franchises such as Harry Potter, 'Friends,' 'Seinfeld' and Ted Lasso. In 2022, the company snatched back the rights from Hasbro to produce toys based on Disney's princesses and characters from the popular film 'Frozen.' Robert Oberschelp, head of Warner Bros. Discovery global consumer products, said the DC brand is one of the company's 'crown jewels' and the battle to obtain the licensing rights was highly competitive. The company considered manufacturers' business models and track records in design work, distribution and innovation when weighing options. 'What Mattel really brought was a very clear understanding of our brand,' he said, adding that the toy maker's global reach was an important factor. 'You have content coming every way that's going to be in front of that fan to get them excited. What we're going to be able to do is extend that storytelling,' he said.
