Latest news with #RM115mil
The Star
05-08-2025
- Business
- The Star
Data centres to bolster YTL Power
CIMB Research reduced its 2025 to 2027 core net profit forecasts for YTL Power by between 7% and 17%. PETALING JAYA: Despite a cut in YTL Power International Bhd 's overall profit forecasts, CIMB Research is still upbeat on the group's data centre business. The research house raised its forecast on earnings before interest, taxes, depreciation and amortisation (Ebitda) margins for YTL Power's co-located data centre segment. 'Its 160 megawatt (MW) of new capacity is factored in for YTL Power's financial years 2027 (FY27) and FY28 and upon gaining better understanding of the company's operating expenditure, we believe our previous 50% Ebitda margin assumption for the co-located data centre business was too conservative. 'Consequently, we have raised this forecast to 70%. Additionally all its existing capacity of 188MW has been leased out,' CIMB Research said. The research house said it believes YTL Power will soon start developing new phases for this segment of its business. 'We now assume an extra 160MW of capacity will go live in stages across FY27 and FY28. Thus, we project core net profit from co-located data centres will rise from RM115mil in FY26 to RM431mil by FY29. 'Excluding the 160MW in co located data centre expansion, YTL Power's fair value would be RM4.08,' the research house said. However, the research house cut its earnings forecast for the artificial intelligence (AI) data centre segment, now assuming 12MW is deployed on Nvidia's DGX Cloud from 20MW previously. The research house said YTL Power will use the remaining capacity to commercially offer its large language model and other AI solutions. Meanwhile, CIMB Research reduced its 2025 to 2027 core net profit forecasts for YTL Power by between 7% and 17%, bringing forward Ebitda per megawatt hour compression for Power Seraya but keeping long-term margins intact, while lowering AI data centre earnings. 'However, we maintain our 'buy' rating and raise YTL Power's target price by 14% to RM4.55 on higher fair value for the co-located data centre business and the Wessex Water business in Britain. Key rating catalysts are from the new 160MW co-located data centre expansion in FY27 and FY28,' the research house said. In addition, CIMB Research said projected strong Wessex Water earnings growth due to a 21% water tariff hike in Britain in April , and potential new Malaysian power plant projects also bode well for YTL Power.
The Star
30-06-2025
- Business
- The Star
Yinson's 1Q earnings fall on lower EPCIC revenue
KUALA LUMPUR: Yinson Holdings Bhd posted a lower net profit of RM115mil in the first financial quarter ended April 30, 2025, against a net profit of RM203mil in the same quarter in 2024 due to lower revenue contribution from engineering, procurement, construction, installation, and commissioning activities. In the quarter under review, the global energy infrastructure firm said revenue fell 44% year-on-year (y-o-y) to RM1.23bil from RM2.21bil in the year-ago quarter as FPSO Maria Quitéria and FPSO Atlanta achieved first oil on Oct 15, 2024 (3QFY25) and Dec 31, 2024 (4QFY25) respectively, and the Agogo FPSO is in the final stages of construction. "The actual progress of our projects under construction is in line with the group's expectations," it said in its results announcement. The board of directors declared an interim dividend of two sen per share for FY26, with entitlement date on Sept 4, 2025, and payable on Sept 26, 2025. Among the highlights of the quarter, Yinson group executive chairman Lim Han Weng said it had successfully closed the previously announced US$1bil investment from a consortium of international investment firms. "'We are resolute to continuously deliver substantial growth and shareholder value," he added. Meanwhile, the group also announced that as of June 30, 2025, it had acquired 111.08 million treasury shares through its share buyback programme at an average price of RM2.20 per share, for a total consideration of RM244mil. Prior to the midday break, shares in Yinson were last traded one sen higher at RM2.34 each after 2.39 million shares changed hands.
The Star
20-06-2025
- Business
- The Star
FBM KLCI ends higher as caution caps momentum
KUALA LUMPUR: The FBM KLCI ended marginally higher on Friday, lifted by selective buying in blue chips, although overall market sentiment remained cautious amid global economic concerns and geopolitical tensions in the Middle East. The FBM KLCI rose 1.30 points, or 0.09%, to 1,502.74 after hitting an intraday high of 1,507.97 and a low of 1,500.04. Despite the gains, the FBM KLCI posted a full-week decline of 1.01%. Market activity was encouraging, with 2.6 billion shares worth RM3.4bil changing hands. Market breadth, however, was negative, with 319 gainers versus 518 losers, while 505 counters remained unchanged. Dealers said investors remained cautious amid prevailing market uncertainty, with concerns over global economic conditions and ongoing geopolitical tensions in the Middle East continuing to weigh on sentiment. Among the gainers, Nestle rose 96 sen to RM72.52, Carlsberg added 92 sen to RM19.66, Malaysian Pacific Industries gained 90 sen to RM20.50 and Hong Leong Financial Group increased 58 sen to RM16.58. PETRONAS Gas slid 54 sen to RM17.48, BAT fell 19 sen to RM4.37, Kluang Rubber lost 16 sen to RM5.75 and Petron Malaysia Refining & Marketing gave up 16 sen to RM3.73. According to data from Bursa Malaysia, foreign investors continued to sell local stocks on Thursday, offloading RM110mil worth of equities. Meanwhile, local institutions purchased RM115mil worth of equities, while retailers sold RM4mil. On the forex market, the ringgit was up 0.03% against the greenback to 4.2595. The local currency declined by 0.3% against the euro, trading at 49,042. It also fell 0.4% against the pound sterling, reaching 5.7408, and dropped 0.18% against the Singapore dollar, closing at 3.3148. Among the key regional markets: Japan's Nikkei 225 closed down 0.22% to 38,403.23; South Korea's Kospi added 1.48% to 3,021.84; Hong Kong's Hang Seng Index rose 0.93% to 23,453.00; China's CSI 300 Index climbed 0.09% to 3,846.64; Taiwan's Taiex added 0.19% to 22,045.74 and; Singapore's Straits Times Index gained 0.02% to 3,894.80 points.
The Star
30-04-2025
- Business
- The Star
Comfy homes within reach
KUALA LUMPUR: Affordable homes should not simply be 'pigeonholes' but instead must be comfortable to live in, says Datuk Seri Anwar Ibrahim. 'We have to make changes,' the Prime Minister said, adding that upcoming affordable home developments would have the necessary amenities, including parks and swimming pools. 'We have thought about all this to the best of our ability.' He said the government would be able to realise this as there is no money wasted to corruption. 'There is money to be returned to the people,' he added, at the groundbreaking ceremony of the Rumah Belia Madani and Rumah Mampu Milik developed by BMG Global Sdn Bhd here yesterday. He said there are affordable housing complexes that have not been upgraded since the 1960s and some that have remained the same since his first stint in government more than two decades ago. Anwar reiterated that the focus of his tenure would not be on building skyscrapers but instead on developing meaningful projects for the people, especially homes. 'Development is not about skyscrapers or mega projects. It must be meaningful to the people,' he added. He said over 80% of Kuala Lumpur residents buy meals from small restaurants or stalls, while only a small number could afford to feast at luxury hotels. 'If that is the case, why is it that when it comes to development, we give less attention to projects that would benefit the masses?' he asked. Therefore, he said the government's focus should be on developing projects that would cater to the needs and interests of the people. The Rumah Belia Madani project will feature 1,048 residential units and be equipped with a community hall, surau, laundrette and stalls, and even vehicle charging ports. A mosque named after the late former Domestic Trade and Cost of Living Minister, Datuk Seri Salahuddin Ayub, will also be built. BMG Global will also be developing 1,996 units of affordable homes in Kuala Lumpur. Anwar said he wants the project to be implemented as soon as possible and that there should be no delays. Housing and Local Government Minister Nga Kor Ming, who was also present at yesterday's event, said the homes will be equipped with solar panels. 'After the project is (completed) successfully, the company will hand over 1,048 units which cost RM115mil to the government for free,' he added. 'We will set a reasonable rental rate for the project. '(For) one square foot, we only charge one ringgit in rent in Kuala Lumpur.' Nga said BMG Global had bagged the project through an open tender project which 10 companies had bid for. He said the government is also on track to hit the target of constructing half a million affordable homes under the 12th Malaysia Plan, after having built 468,000 units. 'As of this afternoon (yesterday) we have achieved 468,000 units, which is about 95%,' he said. He added that Anwar will also launch the biggest affordable housing project in Penang, which is set to feature over 80,000 units. Additionally, the Bandar Madani project, which is expected to be launched at the end of this year, will feature some 13,000 units. 'With this, the target will be achieved,' he said.
The Star
29-04-2025
- Business
- The Star
Almost 470,000 affordable homes built under 12MP, says Nga
KUALA LUMPUR: Putrajaya is on track to hit its target of constructing half a million affordable homes under the 12th Malaysia Plan, says Nga Kor Ming. "As of Tuesday (April 29) we have built 468,000 units, which is about 95% (of the goal)," said the Housing and Local Government Minister. He said that in June, Prime Minister Datuk Seri Anwar Ibrahim will launch the biggest affordable housing project in Penang with over 80,000 units. He also said the Bandar Madani project, expected to be launched at the end of the year, will feature some 13,000 units. "With this, the target will be achieved," he said at the ground-breaking ceremony of the Rumah Belia Madani and Rumah Mampu Milik project developed by BMG Global Sdn Bhd in Batu on Tuesday. Nga said the homes developed by BMG Global would be equipped with solar panels, a mosque named after the late domestic trade and cost of living minister Datuk Seri Salahuddin Ayub and Madani stalls. "After the project is completed successfully, the company will hand over 1,048 units costing RM115mil to the government for free," he said, adding they would set a reasonable rental rate of RM1 per square foot for each house. Nga said BMG Global bagged the project through an open tender project, beating out bids from 10 companies. The company will develop 1,996 units of affordable housing and 1,048 units of Rumah Belia Madani in Kuala Lumpur.
