Latest news with #PETRONASGas
The Star
08-08-2025
- Business
- The Star
Late buying interest pushes FBM KLCI to close at day's high
KUALA LUMPUR: Last-minute buying interest pushed the FBM KLCI to close at its intraday high on Friday, after a subdued session earlier in the day. The FBM KLCI ended 7.87 points higher or 0.51% at 1,556.98, its intraday high, after rebounding from a low of 1,546.41. For the week, the benchmark rose 1.54%. Broad market sentiment continued to be weak, with 541 losers outpacing 448 gainers and 494 counters which traded unchanged. Turnover was at 2.42 billion shares valued at RM2.22bil. PETRONAS Gas was the top gainer on Bursa Malaysia, rising 52 sen to RM18.68, followed by United Plantations, up 22 sen to RM21.78, Riverview Rubber Estates, up 20 sen to RM3.05, and Dutch Lady , up 20 sen to RM27.60. Among the decliners, Nestle fell RM2.30 to RM87.50, F&N dropped 70 sen to RM27.50, PPB Group slipped 18 sen to RM9.12, and BAT eased 16 sen to RM4.91. On the forex market, the ringgit eased 0.16% against the US dollar to 4.2430 and slipped 0.08% against the Singapore dollar to 3.3019. It weakened 0.7% against the pound sterling to 5.6980 but firmed 0.11% against the euro to 4.9386. Regional bourses finished mixed today. Among key regional markets: Japan's Nikkei 225 closed up 1.85% to 41,820.48; Hong Kong's Hang Seng Index fell 0.89% to 24,858.82; China's CSI300 Index declined 0.24% to 4,104.97; Taiwan's Taiex rose 0.07% to 24,021.26; South Korea's Kospi closed down 0.55% to 3,210.01 and; Singapore's Straits Times Index fell 0.43% to 4,239.83 points.
The Star
12-06-2025
- Business
- The Star
FBM KLCI rises for second day amid trade uncertainty
KUALA LUMPUR: The FBM KLCI closed higher for the second straight day amid cautious sentiment, supported by selective buying in heavyweight stocks. Adding to the cautious mood were ongoing uncertainties over global trade developments and a mixed performance across key regional markets. The 30-stock index closed up 2.78 points, or 0.18% at 1,526.62. The market traded within a range of 5.5 points between an intra-day high of 1,528.72 and a low of 1,523.22 during the session. Market breadth turned negative as losers overpowered the gainers on a ratio of 500-to-379 stocks. Traded volumes stood at 2.73 billion shares worth RM2.1bil. Nestle jumped 82 sen to RM76.38, PETRONAS Gas added 38 sen to RM18.08, Dutch Lady advanced 18 sen to RM29.68 and Carlsberg climbed 16 sen to RM19.62. Among the decliners, F&N fell 24 sen to RM28.20, LPI Capital slid 20 sen to RM14.32, Heineken gave up 14 sen to RM27.18 and Hong Leong Industries declined 12 sen to RM13.50. Among the banks, Maybank added seven sen to RM9.77, Public Bank fell two sen to RM4.29 and CIMB declined one sen to RM6.89. RHB Bank gained one sen to RM6.39 while Hong Leong Bank rose 12 sen to RM19.64. Meanwhile, the ringgit strengthened 0.16% against the US dollar to 4.2290, tracking the greenback's decline amid renewed expectations of interest rate cuts by the US Federal Reserve and lingering uncertainty over global trade developments. However, the local currency weakened against several other major currencies. It fell 0.72% against the euro to 4.8784, dropped 0.28% against the British pound to 5.7348, and eased 0.22% against the Singapore dollar to 3.3005. Reuters reported that the US dollar slid to a seven-week low as markets priced in potential Fed rate cuts by year-end, with investors increasingly uncertain about the outlook for global trade. On the external front, regional markets were mixed. Japan's Nikkei 225 slipped 0.65% to 38,173.09, while South Korea's Kospi gained 0.45% to close at 2,920.03. Hong Kong's Hang Seng Index declined 1.36% to 24,035.38. In China, the CSI 300 index edged down 0.06% to 3,892.20, while the Shanghai Composite inched up 0.01% to 3,402.66.
The Star
10-06-2025
- Business
- The Star
FBM KLCI steadies above 1,500 amid cautious sentiment over trade talks
KUALA LUMPUR: The FBM KLCI started Tuesday on a cautious note, with mild early movements reflecting subdued investor sentiment amid ongoing U.S.-China trade uncertainty and continued foreign outflows from the local market. The market barometer saw tepid swings in early trade today, opening marginally higher at 1,519.71, dipping to 1,517.74, and then inching up 0.65 points to 1,520.06 as of 9.21 am. 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. Among the gainers on Bursa Malaysia, PETRONAS Gas rose 14 sen to RM18.28, Carlsberg added 10 sen to RM19.56, Malaysian Pacific Industries gained eight sen to RM20.98 and 99 Speed Mart climbed five sen to RM2.15. Nestle tumbled 72 sen to RM75.02, APM slid 43 sen to RM3, Panasonic Manufacturing lost 12 sen to RM11.80 and Tenaga declined eight sen to RM14.20. Rakuten Trade expects the FBM KLCI to trend within the 1,515-1,525 range today. The research house noted that, so far this year, the local bourse has recorded over RM11bil in net foreign outflows, as investors shift their attention to the more robust Hong Kong market. 'No thanks to Trump's flip-flop tariff policy, consensus has downgraded overall earnings by corporate Malaysia, namely the banks, hence the lacklustre interest in the local equities,' Rakuten said. Meanwhile, Inter-Pacific Research noted that the key index seems to have found support just above the psychological 1,500 level, a position it is likely to hold in the near term. This comes as market participants remain cautious, awaiting the outcome of ongoing U.S.-China trade talks, which remain at a standstill following inconclusive overnight negotiations. Even so, Inter-Pacific said the FBM KLCI is likely to trend higher, with a mild upside bias expected to persist in the near term, supported in part by optimism that a trade deal between the two sides could eventually be reached. 'At the same time, the selling pressure is also easing somewhat and should allow for more bargain hunting to emerge for now. 'On the upside, there are resistances at the 1,523-1,525 levels and 1,530 points respectively. The supports, meanwhile, are at 1,510 and 1,503 points respectively,' Inter-Pacific said.
The Star
26-05-2025
- Business
- The Star
PETRONAS Gas expects resilient year despite operational disruption
KUALA LUMPUR: Petronas Gas Bhd anticipates an overall resilient and stable performance in the financial year 2025, despite operational disruption caused by the pipeline fire incident in Putra Heights on April 1, 2025. In the first quarter ended March 31, 2025 (1QFY25), PETRONAS Gas posted a net profit of RM468.8mil, up from RM456.65mil in the year-ago quarter. The group reported in a filing with Bursa Malaysia that quarterly revenue dipped to RM1.59bil from RM1.62bil in the previous comparative quarter, while earnings per share rose to 23.69 sen from 23.08 sen previously. In line with the performance, the board of directors declared a first interim dividend of 16 sen per share, with an entitlement date of June 12, 2025, and payable on June 24, 2025. Meanwhile, PETRONAS Gas said in an update to the stock exchange it expects the financial impact of repair works and asset restoration resulting from the Putra Heights fire to be about RM170mil. This figure is subject to the final findings of the investigation and is based on the current site conditions and the extent of asset damage, it said. A significant portion of this amount is expected to be capitalised under the company's capital expenditure, with partial recovery anticipated through insurance claims. Revenue loss due to service interruption is projected to be minimal at approximately RM20mil. The total profit impact to the group, combining repair costs and revenue loss, is currently estimated at RM60mil for FY25. "The group remains firmly committed to maintaining the highest standards of safety, operational excellence, disciplined cost management, and long-term strategic growth. "In light of the recent incident, the group is further strengthening its risk management and mitigation frameworks to ensure continuity, resilience, and sustainability across its operations," it said.
The Star
26-05-2025
- Business
- The Star
FBM KLCI slips ahead of blue-chip results
KUALA LUMPUR: Bursa Malaysia's main index dipped slightly lower over the morning session as investors awaited the release of blue-chip earnings later in the day. The FBM KLCI was down 3.23 points to 1,532.75, in line with most regional markets, as uncertainty remains over the ongoing trade discussions between the US and its trading partners. There was broad selling on the domestic market with declining issues outpacing advancing at a ratio of nearly two-to-one. Trading volume was 2.04 billion shares changing hands for RM792.35mil. Among the blue chips, MISC fell 21 sen to RM7.45, PETRONAS Gas shed 36 sen to RM17.64 and Kuala Lumpur Kepong slid eight sen to RM19.76, On Monday morning, traders digested the news of the 50% tariffs on European imports to the US, and the push back to a July 9 deadline. In Hong Kong, the Hang Seng fell 1% to 23,366 and the Shanghai composite index slipped 0.3% to 3,338. Singapore's Straits Times fell 0.44% to 3,865. Japan's Nikkei was an outlier, rising 0.73% to 37,431.
