Latest news with #EkovestBhd
New Straits Times
02-08-2025
- Business
- New Straits Times
Construction index jumps 3.1 per cent
KUALA LUMPUR: Bursa Malaysia Construction Index jumped more than three per cent following the government's announcement of a RM430 billion development expenditure (DE) under the 13th Malaysia Plan (13MP). At the close of trading, the Construction Index surged 3.10 per cent or 9.65 points to end at 321.17, up from 311.52 previously. The strong performance placed the construction sector at the top of the market, outperforming all other sectors. Financial services followed with a 1.91 per cent gain, while other advancing sectors included technology, which rose 1.05 per cent, property up 0.95 per cent, energy adding 0.17 per cent and real estate investment trusts up 0.17 per cent. On the downside, telecommunications and media fell 0.80 per cent, plantation dipped 0.33 per cent, consumer products and services declined 0.28 per cent, and utilities slipped 0.27 per cent. Transportation and logistics dropped 0.3 per cent, while healthcare ended 0.2 per cent lower. The broader market also saw moderate gains, with the FTSE Bursa Malaysia KLCI climbing 20.10 points, or 1.33 per cent, to settle at 1,533.35, as investors reacted to the long-term economic outlook presented in the 13MP. Ekovest Bhd emerged as one of the most actively traded construction stocks, with 62.79 million shares changing hands by the close. The counter rose 4.82 per cent, gaining two sen to end at 43.5 sen. Other notable construction stocks included Gamuda Bhd, which recorded a trading volume of 22.74 million shares, followed by WCT Holdings Bhd with 16.57 million, Econpile Holdings Bhd at 16.07 million, IJM Corporation Bhd with 13.50 million, and Bina Puri Holdings Bhd with 10.43 million shares. Prime Minister Datuk Seri Anwar Ibrahim tabled the 13MP in Parliament on Thursday, outlining a RM430 billion allocation for development spending between 2026 and 2030, up from RM415 billion under the previous plan. Key infrastructure initiatives under the 13MP include the continuation of the East Coast Rail Link to strengthen east-west connectivity, and the Gemas–Johor Bahru double-tracking project to improve rail transport in the south. In Johor Baru, the government will roll out an Electrified Economic Rail Transit system to enhance regional mobility. Penang's public transport network will also be expanded through the Light Rail Transit Mutiara Line, while the cross-border Rapid Transit System Link is expected to improve connectivity with Singapore. In East Malaysia, the Pan Borneo Highway and a feasibility study for the proposed Trans-Borneo Railway are expected to enhance inter-state transport infrastructure in Sabah and Sarawak. The plan also includes upgrades to Penang and Miri airports to support the growth of tourism and logistics. CIMB Securities said the higher DE is expected to drive renewed momentum in public infrastructure spending starting from the fourth quarter of 2025. This momentum is likely to accelerate further in 2026 and 2027 ahead of the next general election scheduled for 2028. "We also anticipate increased DE spending in East Malaysia, where both Sabah and Sarawak are due to call for fresh state elections by 2025 and 2027 respectively," it added. Affin Hwang Investment Bank Bhd said the DE allocation is a positive catalyst for construction firms, driven by expectations of increased infrastructure spending. This is especially beneficial for larger contractors with strong balance sheets that are well-positioned to undertake public-private partnership projects such as Gamuda, IJM Corporation Bhd and Sunway Construction Bhd, which typically works in collaboration with its parent company, Sunway. RHB Investment Bank Bhd said the DE is expected to continue supporting infrastructure growth in the country. The firm maintained its "Overweight" call on the sector, citing expectations of a stronger pipeline of development projects under the plan.
New Straits Times
01-08-2025
- Business
- New Straits Times
Construction stocks surge on RM430bil 13MP spending plan
KUALA LUMPUR: The Bursa Malaysia Construction Index jumped more than three per cent following the government's announcement of a RM430 billion development expenditure under the 13th Malaysia Plan (13MP). At the time of writing, the index rose 3.19 per cent, or 9.95 points, to 321.47 from its previous close of 311.52. The rally placed construction at the forefront of market gains, outperforming all other sectors. Financial services followed with a 1.89 per cent increase, while property added 1.15 per cent. Other sectoral gains included technology (1.10 per cent), real estate investment trusts (0.29 per cent), energy (0.28 per cent), utilities (0.26 per cent), industrial products and services (0.18 per cent), and transportation and logistics (0.11 per cent). In contrast, the plantation index edged down 0.01 per cent, consumer products and services declined 0.03 per cent, healthcare slipped 0.10 per cent, and telecommunications and media fell 0.24 per cent. The broader market also registered modest gains, with the FTSE Bursa Malaysia KLCI rising 1.35 points to 1,533.75, up 0.09 per cent, as investors weighed the long-term economic prospects outlined in the 13MP. Among the most actively traded construction stocks was Ekovest Bhd, which saw 37.2 million shares change hands. The stock climbed 6.02 per cent, or 2.5 sen, to trade at 44 sen. Other notable counters included WCT Holdings Bhd with 13.3 million shares traded, Gamuda Bhd (12.6 million), Econpile Holdings Bhd (10.2 million), Jaks Resources Bhd (9.4 million), and Bina Puri Holdings Bhd (9.1 million). Yesterday, Prime Minister Datuk Seri Anwar Ibrahim tabled the 13MP in Parliament, outlining a RM430 billion allocation for development spending between 2026 and 2030, up from RM415 billion under the previous plan. Key infrastructure initiatives under the 13MP include the continuation of the East Coast Rail Link to strengthen east-west connectivity, and the Gemas–Johor Bahru double-tracking project to improve rail transport in the south. In Johor Baru, the government will roll out an Electrified Economic Rail Transit system to enhance regional mobility. Penang's public transport network will also be expanded through the Light Rail Transit Mutiara Line, while the cross-border Rapid Transit System Link is expected to improve connectivity with Singapore. In East Malaysia, the Pan Borneo Highway and a feasibility study for the proposed Trans-Borneo Railway are expected to enhance inter-state transport infrastructure in Sabah and Sarawak. The plan also includes upgrades to Penang and Miri airports to support the growth of tourism and logistics.
The Star
28-07-2025
- Business
- The Star
Trading ideas: TNB, Ekovest, Sapura Energy, Globetronics, Jentayu, Rhone Ma, Ecobuilt, Salcon, ETA, Polymer, CTOS
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Tenaga Nasional Bhd has been slapped with another tax bill amounting to RM840.1mn for the Year of Assessment 2022. Ekovest Bhd and its major shareholder Tan Sri Lim Kang Hoo have mutually agreed to an extension to 29 August 2025 to finalise the proposed RM1.2bn acquisition of Credence Resources Sdn Bhd. Sapura Energy Bhd has secured contracts worth more than RM500.0m to carry out offshore installation and subsea maintenance works in Thailand. Globetronics Technology Bhd defended its RM45.1mn acquisition in Mpire Global Bhd , saying the move aligns with its long-term transformation strategy and provides business synergistic to its existing business. Jentayu Sustainables Bhd said a 162-megawatt run-of-river hydroelectric project at Hulu Sungai Padas, Sipitang, Sabah remains on schedule despite the withdrawal of its partner from the project. Rhone Ma Holdings Bhd has accepted a RM15.6mn contract from Jemaluang Dairy Valley Sdn Bhd to supply, fabricate, install and commission a milk processing line in Mersing, Johor. Ecobuilt Holdings Bhd has secured a RM34.7mn contract from Messrs C Wei Architect, to undertake the main building works for a high-rise serviced apartment project in Shah Alam, Selangor. Salcon Bhd 's executive deputy chairman Tan Sri Tee Tiam Lee has emerged as a new substantial shareholder in Eduspec Holdings Bhd after acquiring a 7.9% stake via a private placement. ETA Industries Sdn Bhd's stake in Rex Industry Bhd rose to 55.0% on 25 July 2025 at the close of its mandatory takeover offer for the remaining shares in the group. Polymer Link Holdings Bhd, a plastic powder supplier, announced on Friday that it has received approval-in-principle from Bursa Malaysia for its ACE Market listing. CTOS Digital Bhd 's 2QFY25 net profit was down 17.0% YoY to RM21.2mn, weighed down by higher depreciation and amortisation and operational costs.
The Star
05-05-2025
- Business
- The Star
Govt nods Ekovest's highway privatisation
PETALING JAYA: After over eight years, Ekovest Bhd has received the government's approval to proceed with the proposed privatisation of two urban expressway projects – Laluan Istana–Kiara Expressway (LIKE) and the Kampung Baru Link Expressway (KBL) – under its highway expansion plan. In a filing with Bursa Malaysia, Ekovest said its wholly owned subsidiary Lebuhraya DUKE Fasa 2A Sdn Bhd (LDF2A) was notified by the government yesterday of the approval to implement the LIKE — previously referred to as the Istana Link — and the KBL. The project will be implemented in two phases, with the first phase involving the Laluan Istana–Kiara Expressway (LIKE). Ekovest said the government and LDF2A will proceed with signing the concession agreement for LIKE once it is 'checked and cleared' by the Attorney-General's Chambers. The second phase, which covers the KBL, will see the Public-Private Partnership Unit (UKAS) working with relevant ministries and LDF2A to finalise the key terms of the concession by Dec 31, 2026. The proposal was first disclosed in January 2017, when Ekovest announced it had secured principle approval from the government for the privatisation of the KBL, LIKE and Kapar Link Expressway, spanning a total of 75.2 kilometres. At the time, the project was estimated to cost RM6.32bil and was intended 'to provide vital connectivity and direct linkage for movement in and around Kuala Lumpur city center and complete the missing link for seamless travelling in and out of Greater Kuala Lumpur and Klang Valley.' Ekovest is also the concessionaire of the Duta–Ulu Kelang Expressway (DUKE) network, including its phase 2 extensions.
