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Borneo Post
4 days ago
- Business
- Borneo Post
Sarawak's Reach Ten posts RM7.1 million for 1QFY25, declares maiden dividend
Looking ahead, Reach Ten said the company remains upbeat about its outlook, supported by sustained growth in Malaysia's telecommunications sector. KUCHING (May 30): Newly listed Sarawakian telecommunications provider Reach Ten Holdings Berhad (Reach Ten) recorded a net profit of RM7.1 million on revenue of RM23.1 million for its first quarter results for the period ended March 31, 2025 (1QFY25). The results only cover February and March, following the completion of its subsidiaries' merger on February 5. For the two-month period, Reach Ten garnered an earnings per share of 0.89 sen. Gross profit stood at RM11.5 million, translating to a gross margin of 49.7 per cent. It also declared its first ever interim single-tier dividend of 1.0 sen per share for the financial year ending December 31, 2025 (FY25). The company in a statement today said the RM10 million payout will be made on July 21, 2025 to shareholders listed in the Record of Depositors as of June 30, 2025. Managing director Leo Chin said the dividend reflects the Company's commitment to deliver shareholder value, in line with its policy to distribute up to 30 per cent of net profit. 'With healthy cash and bank balances, as well as fixed deposits of RM63 million, Reach Ten aims to maintain a balanced approach between rewarding shareholders through dividend distributions and retaining sufficient capital to support future growth and strategic initiatives,' he said. Leo Chin The company said its strong margin was supported by the completion of service scopes under the VSAT broadband project in FY24 and continued extensions of the project this year. 'Revenue for the quarter was mainly driven by its satellite-based communication networks and services segment, which contributed 63.2 per cent of total revenue. 'Fibre optic communication networks and services accounted for 21.4 per cent, while telecommunications infrastructure and managed services contributed 15.4 per cent,' it added. There are no comparative figures from the same period last year as this is the company's second interim financial report following its Main Market listing on May 2. Chin added that the figures reflect only two months of post-merger performance, and that on a full-quarter basis, revenue and net profit would have been RM28.4 million and RM8.2 million respectively. Looking ahead, Reach Ten said the company remains upbeat about its outlook, supported by sustained growth in Malaysia's telecommunications sector. National broadband coverage in populated areas has reached 97.28 per cent, pointing to steady demand for connectivity. Sarawak has also experienced consistent growth, reinforcing the region's long-term potential. 'We remain confident in our growth trajectory, supported by rising demand for digital connectivity, favourable government policies, and continued infrastructure expansion. 'Our focus on underserved markets, especially in Sarawak, positions us well to capture future opportunities and deliver long-term shareholder value,' added Chin.
Malaysian Reserve
26-05-2025
- Business
- Malaysian Reserve
Bursa Malaysia closes flat with key index slightly down
KUALA LUMPUR — Bursa Malaysia closed flat on Monday with the key index down slightly, weighed by selling in telecommunication counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 1.08 points, or 0.07 per cent, to 1,534.30 from Friday's close of 1,535.38. The benchmark index opened 0.95 of a point higher at 1,536.33, and fluctuated between 1,528.93 and 1,537.27 throughout the day. In the broader market, decliners thumped gainers 595 to 338, with 478 counters unchanged, 1,019 untraded and 42 suspended. Turnover improved to 3.12 billion units worth RM1.63 billion compared with Friday's 2.72 billion units worth RM2.17 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI trimmed earlier losses on the back of late buying interest, especially in banking counters. 'Markets across the region saw mixed results following US President Donald Trump's tariff rhetoric over the weekend, where he first threatened and later walked back on plans for increased European tariffs. Meanwhile, technology stocks came under selling pressure after Trump floated a 25 per cent tariff on iPhones and other smartphone imports,' he told Bernama. Thong said the benchmark index of the local bourse remains range-bound amid a lack of catalysts. 'A decisive move above the 1,550–1,560 level is necessary to shift sentiment positively. For now, we expect the FBM KLCI to trade between 1,520 and 1,550 through the week,' he added. Among heavyweight stocks, Maybank rose four sen to RM9.92, while Public Bank and IHH Healthcare added one sen each to RM4.41 and RM6.91, respectively. CIMB gained two sen to RM6.96, while Tenaga was flat at RM14. Among active stocks, Sapura Energy, OCR Group and Harvest Miracle were unchanged at four sen, 3.5 sen and 18 sen, respectively, while Tanco Holdings added 2.5 sen to RM1 and Eco Shop fell four sen to RM1.16. On the index board, the FBM Emas Index lost 18.35 points to 11,455.69, the FBMT 100 Index cut 14.39 points to 11,218.71, and the FBM ACE Index was down 17.87 points to 4,598.07. The FBM Emas Shariah Index dropped 36.23 points to 11,389.98, and the FBM 70 Index lost 46.89 points to 16,303.36. Across the sectors, the Financial Services Index was 68.50 points higher at 18,171.08, the Industrial Products and Services Index inched down 0.30 of a point to 153.74, the Energy Index eased 4.86 points to 705.91, and the Plantation Index added 5.06 points to 7,335.37. The Main Market volume fell slightly to 1.23 billion units valued at RM1.34 billion against Friday's 1.41 billion units valued at RM1.98 billion. Warrant turnover increased to 1.60 billion units worth RM198.00 million from 1.11 billion units worth RM130.73 million previously. The ACE Market volume declined to 278.81 million shares worth RM86.35 million from 204.53 million shares worth RM64.75 million last Friday. Consumer products and services counters accounted for 207.96 million shares traded on the Main Market, industrial products and services (214.60 million), construction (121.07 million), technology (139.47 million), SPAC (nil), financial services (49.22 million), property (143.76 million), plantation (96.20 million), REITs (10.83 million), closed/fund (4,900), energy (235.24 million), healthcare (29.06 million), telecommunications and media (24.26 million), transportation and logistics (21.15 million), utilities (33.36 million), and business trusts (35,200). — BERNAMA
The Sun
23-05-2025
- Business
- The Sun
Eco-Shop Marketing targets 15-20% revenue, Patami growth in 2025
KUALA LUMPUR: Eco-Shop Marketing Bhd is targeting growth of 15%–20% in revenue and profit after tax and minority interest (Patami) in 2025, supported by business volume and consumer demand, despite recent price adjustments. Chief financial officer Chong Yew Kai said the company observed no negative reaction when it raised product entry prices from RM2.40 to RM2.60 last month. 'In terms of not only revenue but also Patami, we are looking at 15% to 20% of growth year-on-year. Last round we had this price increase in 2022. So similar trends. Things are moving as per our expectation,' he told a press conference after the company's listing on the Main Market of Bursa Malaysia today. CEO Jessica Ng said the listing marks a new chapter for the household products retailer, enabling it to scale growth and strengthen its market position. 'With enhanced capital, we are now better positioned to expand our nationwide footprint, strengthen our warehousing and distribution capabilities, and invest in technology to enhance operations and customer experience – all while staying true to our promise of delivering unbeatable everyday value.' She said Eco-Shop's business model is built on high volume and scale, which enables it to achieve operational efficiency while keeping prices ultra-affordable. Ng noted that about 75% of the company's products are house brands, many of which are custom-packaged in smaller quantities to maintain affordability and variety. 'We buy in bulk and break them down into smaller packs – like our sachet drinks – making them more accessible to our customers. Our focus remains on daily essentials and basic home living needs.' To enhance customer experience, Ng said, Eco-Shop has refreshed its store image and layout to provide a more comfortable and enjoyable shopping environment. Eco-Shop plans to open 70 new stores annually, including five to six outlets under its Ecoplus brand, a premium retail concept aimed at urban markets and located in shopping malls. Ecoplus offers an expanded range of products beyond the standard RM2.60 price point, with options priced at RM6, RM10 and RM20. Ng said the company is open to future expansion into the Asean market, although its current focus remains on Malaysia. 'The dollar shop segment is still relatively new in Asia. Outside of mature markets like the US and Japan, there's a lot of room to grow. We're the first in this segment to list, and if the opportunity arises, we will evaluate it.' Eco-Shop made its debut on the Main Market at RM1.25 with a 12 sen premium over its initial public offering (IPO) price of RM1.13, with 25 million shares traded. It closed at RM1.20, up 6.19% from its IPO price, with over 209 million shares changing hands, making it one of the most actively traded counters. The IPO raised RM419.87 million for Eco-Shop, whichhas allocated RM56.27 million (13.4%) to accelerate the expansion of its retail footprint nationwide, RM200 million (47.6%) to expand its distribution centres, RM10.90 million (2.6%) for investment in information technology hardware and software, RM100 million (23.8%) to repay bank borrowings and RM52.7 million (12.6%) for working capital purposes and to defray the cost of the IPO and listing. Eco-Shop's Patami has grown at a compounded annual growth rate of 156% over the last three financial years from May 31, 2022 to 2024. The company recently reported Patami growth of 36% year-on-year for the nine months ended Feb 28, 2025. Maybank Investment Bank Bhd is the principal adviser, joint global coordinator, joint bookrunner and sole underwriter for the IPO. UBS Securities Malaysia Sdn Bhd and UBS AG, Singapore branch, are joint global coordinators and Joint bookrunners, while RHB Investment Bank is also a joint bookrunner.
The Star
23-05-2025
- Business
- The Star
FBM KLCI bounces back after six-day losing streak
KUALA LUMPUR: Equities on the Malaysian stock market found support ahead of the weekend, with investors hoping for upcoming corporate results to provide fresh leads. After six days of losses, the FBM KLCI bounced 7.35 points higher in Friday morning trade to 1,531.93. Despite the return of buying interest to blue chips, the broader market remained nearly evenly spread with advancing issues slightly pipping decliners at a ratio of 1.06-to-1. Volume was 1.56 billion shares changing hands for RM1.12bil. Financial heavyweights, which were heavily sold down in the previous session, rebounded. Maybank gained six sen to RM9.88, CIMB rose 11 sen to RM6.96 and Public Bank climbed nine sen to RM4.39. Kuala Lumpur Kepong added 26 sen to RM19.88 after its results announcement yesterday, while Sunway Construction surged 16 sen to RM5.31. Meanwhile, Main Market debutant Eco-Shop topped the morning's actives list with 156.56 million shares done. The dollar-store retailer jumped eight over its initial public offering price to RM1.21. In regional markets, markets made a cautious comeback from the heavy selling in the previous day as investors were spooked by soaring US Treasury yields triggered by fears of a US tax-cut bill. Japan's Nikkei rose 0.43% to 37,144 and Hong Kong's Hang Seng gained 0.58% to 23,679. China's composite index rose 0.1% to 3,382. Singapore's Straits Times index was down 0.18% to 3,873.
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New Straits Times
23-05-2025
- Business
- New Straits Times
MARKET PULSE AM MAY 23, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Eco-Shop Marketing rose more than 10 per cent on its trading debut on the Main Market from its IPO price of RM1.13 per share. Bursa Malaysia's 30-stock index opened higher today, defying the subdued performance on Wall Street overnight. As analysts anticipate an imminent rebound, the index is expected to hover between 1.520 and 1,530 today. In the cryptocurrency market, Bitcoin rose to RM470,005, while Ethereum climbed to RM11,265 and Solana stood at RM769. That's it for Market Pulse.
