Latest news with #RM1.72
New Straits Times
3 days ago
- Business
- New Straits Times
Southern Cable likely frontrunner for next wave of data centre cable jobs
KUALA LUMPUR: Southern Cable Group Bhd is poised to clinch a major share of the next wave of power cable contracts linked to at least 10 electricity supply agreements (ESAs) for data centre projects, said an analyst. This follows Tenaga Nasional Bhd's (TNB) recent announcement of five signed ESAs for data centres totalling 666 megawatts (MW) in the first quarter of this year, with another 10 contracts expected to be signed by year-end. Apex Securities analyst Tan Sue Wen said the surge in demand for medium- and high-voltage (MV and HV) power cables is expected to benefit Southern Cable, which operates in a segment with limited competition. "With its entrenched position in the MV and HV cable segments, and limited competition in this space, Southern Cable is well-positioned to capture a large portion of these upcoming infrastructure opportunities," she said in a note. Besides its role in domestic infrastructure, Tan said Southern Cable is also seen as a beneficiary of United States-bound exports, being one of the few local cable suppliers with distribution access to the American market. Apex Securities has raised its earnings forecast for Southern Cable by 21 per cent across financial years 2025 to 2027, citing robust margin expansion and resilient demand for power cables. The group's power segment, which accounts for the bulk of its revenue, saw gross profit more than double year-on-year in the first quarter ended March 31, 2025, as demand for MV and HV cables surged. These products made up over 30 per cent of the segment's revenue during the quarter, according to the research firm. Excluding a one-off forex loss, core net profit rose 113.7 per cent to RM29.1 million in the quarter, accounting for 28 per cent of the full-year forecast, a performance it described as exceeding expectations. "We expect stronger performance in the remaining quarters of the financial year. The outperformance was largely due to stronger-than-anticipated margins of power cables and wires in the power segment," it said. Southern Cable has RM1.3 billion worth of orders in hand, about 90 per cent of which are for power cables, which Apex Securities believes provides solid earnings visibility for the rest of the year. In line with the revised earnings outlook, the firm raised its target price for the group to RM1.72 from RM1.42 and reiterated a 'Buy' call, noting the stock's undemanding valuation at 12 times 2025 forecast earnings. "Risks to the outlook include a spike in raw material prices such as copper and steel, and the potential failure to secure new contracts," it added.
Barnama
6 days ago
- Automotive
- Barnama
Malaysia Autoshow 2025 Generates Over RM 1.72 Billion Potential Sales, Draws 294,062 Visitors
SERDANG, May 19 (Bernama) -- The Malaysia Autoshow 2025 (MAS 2025) concluded its most successful edition yet attracting a record-breaking 294,062 visitors with RM1.72 billion in potential sales generated from 3,194 vehicle bookings and 1,512 prospective trade-ins, along with an impressive 18,824 sales leads. Organized by the Malaysia Automotive, Robotics, and IoT Institute (MARii) with support from the Ministry of Investment, Trade and Industry (MITI), MAS 2025 underscored Malaysia's growing leadership in next-generation mobility as the nation assumes the ASEAN Chairmanship in 2025. Held from May 9 to May 15 at Malaysia Agro Exposition Park Serdang (MAEPS), MAS 2025 featured over 200 exhibitors and more than 500 vehicles across 50,000 square metres. With the theme 'Shifting the Future,' this year's show not only broke attendance records but also deepened public understanding of the rapidly evolving mobility ecosystem.
The Star
22-05-2025
- Business
- The Star
SP Setia to see better performance ahead
PETALING JAYA: Despite mixed reactions to property developer SP Setia Bhd 's first quarter ended March 31, 2025 (1Q25) financial results released on Wednesday, there is broad consensus that the company should perform better from 2Q25 onwards on more property launches. Analysts who met the company's management following the release of its 1Q25 results were mixed in their reactions but noted that the upcoming quarters would see improvement. RHB Research, which maintained a 'buy' call on the stock with an unchanged target price of RM1.72, said the company missed earnings expectations as slower property launches and sales resulted in a largely muted quarter. Keeping its earnings forecast unchanged for now, it said management shared that the bulk of property launches should come in the next two quarters, with earnings to pick up and improving from industrial land sales in in Setia Alaman, recognition of the Taman Pelangi land sale, and newly launched projects in Australia and Vietnam. MIDF Research, which maintained a 'neutral' call on the stock and revised the target price to RM1.17 from RM1.21, said management remains committed to meet new sales target of RM4.8bil on the back of planned launch of RM5.1bil of property development and RM300mil industrial property. TA Securities believes the sales target for the financial year ending December 31, 2025 (FY25) can be achieved as year-to-date sales including for bookings have reached 23% of target and the planned roll out of new launches, with a fifth of the target to be driven by land sales together with potential upside from the finalisation of additional land transactions from joint ventures in Tanjung Kupang and Setia Alaman. The brokerage has not made changes to FY25 to FY27 earnings forecast. It said the management has viewed 1Q25's results 'as a temporary blip', also confirmed that plans for a diversified real estate investment trust (REIT) comprising malls, offices, schools, convention centres, hotels and industrial properties remained in place with an expected valuation of RM1.5bil or more. It noted that an advisor has been appointed, and the REIT listing targeted for the first half of next year. 'We estimate that retaining a 40% to 60% stake in the REIT could generate RM600mil to RM900mil in cash proceeds, strengthening SP Setia's liquidity for future growth,' it said. It has maintained a 'buy' call with a revised target price of RM1.97 from RM1.92. HLIB Research has also maintained a 'buy' call on the stock with an unchanged target price of RM1.80, viewing that results were in line with stronger quarters ahead supported by the strategic portfolio restructuring through monetising land and assets, debt reduction and cost optimisation to enhance financial resilience, with new revenue streams providing additional growth levers anchored by core property development business.
Barnama
19-05-2025
- Automotive
- Barnama
Malaysia Autoshow 2025 Attracts RM1.72 Bln Potential Sales
REGION - CENTRAL > NEWS KUALA LUMPUR, May 19 (Bernama) -- The Malaysia Autoshow 2025 (MAS 2025) concluded its most successful edition yet attracting a record-breaking 294,062 visitors with RM1.72 billion in potential sales, said the Malaysia Automotive Robotics and IoT Institute (MARii). In a statement today, the government agency said the potential sales was generated from 3,194 vehicle bookings and 1,512 prospective trade-ins, along with an impressive 18,824 sales leads. 'Held from May 9 to 15 at the Malaysia Agro Exposition Park Serdang (MAEPS), MAS 2025 featured over 200 exhibitors and more than 500 vehicles across 50,000 square metres. bootstrap slideshow 'With the theme 'Shifting the Future,' this year's show not only broke attendance records but also deepened public understanding of the rapidly evolving mobility ecosystem,' it said. MAS 2025 drew a record 294,062 visitors, a 31 per cent increase compared to 2024, surpassing all previous attendance records on its final day, largely driven by the extension of the event by two additional days. The event featured 48 new vehicle launches and previews, along with 10,916 test drives on the outdoor track. 'Electrified vehicles (EVs, plug-in hybrid electric vehicles and hybrid electric vehicles) made up 51 per cent of all models displayed, highlighting the shift to greener mobility,' it said. In a further stride towards next-generation mobility, MARii noted that MAS 2025 also saw the official launch of the Voluntary NxGV Labelling Scheme, aimed at certifying vehicles that meet Malaysia's high standards for sustainability, safety and innovation. It added that MAS 2025 marked a major regional milestone with the ASEAN Unity Drive 2025, a groundbreaking 10,432-kilometre EV convoy across nine ASEAN nations, officially recognised by the ASEAN Records.
New Straits Times
19-05-2025
- Automotive
- New Straits Times
Malaysia Autoshow 2025 attracts RM1.72bil potential sales
KUALA LUMPUR: The Malaysia Autoshow 2025 (MAS 2025) concluded its most successful edition yet attracting a record-breaking 294,062 visitors with RM1.72 billion in potential sales, said the Malaysia Automotive Robotics and IoT Institute (MARii). In a statement today, the government agency said the potential sales was generated from 3,194 vehicle bookings and 1,512 prospective trade-ins, along with an impressive 18,824 sales leads. "Held from May 9 to 15 at the Malaysia Agro Exposition Park Serdang (MAEPS), MAS 2025 featured over 200 exhibitors and more than 500 vehicles across 50,000 square metres. "With the theme "Shifting the Future," this year's show not only broke attendance records but also deepened public understanding of the rapidly evolving mobility ecosystem," it said. MAS 2025 drew a record 294,062 visitors, a 31 per cent increase compared to 2024, surpassing all previous attendance records on its final day, largely driven by the extension of the event by two additional days. The event featured 48 new vehicle launches and previews, along with 10,916 test drives on the outdoor track. "Electrified vehicles (EVs, plug-in hybrid electric vehicles and hybrid electric vehicles) made up 51 per cent of all models displayed, highlighting the shift to greener mobility," it said. In a further stride towards next-generation mobility, MARii noted that MAS 2025 also saw the official launch of the Voluntary NxGV Labelling Scheme, aimed at certifying vehicles that meet Malaysia's high standards for sustainability, safety and innovation. It added that MAS 2025 marked a major regional milestone with the ASEAN Unity Drive 2025, a groundbreaking 10,432-kilometre EV convoy across nine ASEAN nations, officially recognised by the ASEAN Records. Meanwhile, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said as Southeast Asia's second-largest automotive market and the chair of ASEAN this year, Malaysia is in a strategic position to lead the regional push towards green and next-generation vehicle technologies. "This is very much in line with Malaysia's focus on the development of guidelines to support ASEAN's EV roadmap as one of our deliverables in our ASEAN chairmanship year. "The success of MAS 2025 is a huge step towards achieving that objective and strengthening the region's next-gen mobility supply chain," he said. Tengku Zafrul added that while the autoshow has become a platform to drive investment, collaboration, and innovation across ASEAN's value chain, MITI is also committed to ensuring that our SMEs and workforce are future-ready for the opportunities afforded by a more resilient regional e-mobility industry. MARii further noted that the Malaysia Autoshow will return in 2027, potentially in a new setting to offer an even better experience for visitors and industry players. "The event will continue to evolve as the premier regional platform for mobility, innovation, and clean transport technologies," it added. Economy Apr 9, 2025 @ 3:57am Automotive sector contributes 5.0pct or RM82bil to Malaysia's GDP: Tengku Zafrul Corporate Nov 26, 2024 @ 6:55pm Hyundai's RM2.16bil investment in Malaysia to drive down vehicle prices? Economy Apr 7, 2025 @ 2:57am US tariffs to have broad impact on Malaysia, says Tengku Zafrul Economy Feb 24, 2025 @ 11:30pm Historic high: Malaysia's approved investments top RM378.5bil
