Latest news with #RM17.8
New Straits Times
5 days ago
- Business
- New Straits Times
HLIB drops DNeX coverage, flags softer outlook for energy segment
KUALA LUMPUR: Hong Leong Investment Bank Bhd (HLIB Research) has ceased coverage of Dagang NeXchange Bhd (DNeX) due to internal resource reallocation. The firm said as such, its previous forecasts, recommendations and target price should no longer be relied upon as a reference going forward. On outlook, HLIB Research said DNeX's energy segment is expected to record a sequential earnings decline in the second quarter of 2025 (2Q25), due to easing crude oil prices, driven by US Liberation Day tariffs and OPEC's aggressive output expansion. It added that the group's subsidiary, SilTerra Malaysia Sdn Bhd, returned to positive Ebitda this quarter, driven by improved wafer shipments and blended average selling prices in the emerging technology segment. This was underpinned by efforts in staff rationalisation and the growing contribution from emerging technology, particularly silicon photonics, which typically yields higher margins. "Nonetheless, we believe SilTerra will remain in red in the near-term as its utilisation rate is unlikely to go above 80 per cent, given the cloudy semiconductor outlook due to the rising trade tensions," it noted. For the first quarter ended March 31, 2025 (1Q25), DNeX registered a core net profit of RM17.8 million, which HLIB Research deemed broadly in line with its FY25 forecasts, accounting for 22 per cent of the full-year estimate. However, the group posted a net loss of RM79.04 million for the quarter, compared with a net profit of RM14.46 million a year earlier, mainly due to higher interest expenses. Quarterly revenue declined by 4.19 per cent to RM296.83 million, from RM309.82 million in 1Q24. The decrease was primarily attributed to weaker contributions from the energy and information technology segments, which offset gains in the technology segment.
The Sun
08-05-2025
- Business
- The Sun
Fibromat makes lacklustre debut on ACE Market
KUALA LUMPUR: Fibromat (M) Bhd made a lacklustre debut on Bursa Malaysia's ACE Market today, following its transfer from the LEAP Market. The geotechnical services firm opened at 46 sen, 16% below its initial public offering (IPO) price of 55 sen per share. Its shares closed at 49.5 sen, 10% below the IPO price. Fibromat specialises in the design, manufacturing, installation and trading of geosynthetics and erosion control products. Executive director Wallace Ng Chun Hou said the company may need to strengthen its performance further to build investor confidence. 'We grew from a small company into a more integrated geotechnical solutions provider, and today, many of our customers, including developers and government agencies, believe in us. But from a capital market perspective, we acknowledge there is still room for improvement. We need to continue delivering strong performance to build investor confidence over time,' he said at a press conference in conjunction with the listing. Fibromat is the latest ACE Market listing to underperform, with all eight debuts since March closing below their IPO prices on the first day. Wallace suggested that the weak market performance may be due to limited public awareness and understanding of the value of its specialised work. 'When the public sees greenery along highways, they do not know the engineering behind it. We are proud of our contributions, but we also recognise the need to raise awareness – and we believe this will help better reflect our value in the capital market,' he said. Meanwhile, Fibromat's managing director and chief executive officer, Ng Kian Boon, said the IPO raised RM17.8 million. 'With the RM17.8 million raised from the initial public offering, we plan to use about RM7.6 million to purchase two jute-based erosion control blanket stitching machines and four dust collectors with ducting. All the new machines will be installed at our factory located in Rasa, Selangor, to expand our production of erosion control blankets,' he said. He added that the company plans to enhance its in-house capabilities by setting up a prefabricated vertical drain (PVD) installation team and acquiring five hydraulic excavators. PVDs are geosynthetics installed in soft ground to improve soil stability. Fibromat's notable projects include the West Coast Expressway, the Sarawak Second Trunk Road, and Phase 1A of the Sabah Pan Borneo Highway. The company is actively bidding for contracts under Phase 1B of the Sabah Pan Borneo Highway and the Sarawak-Sabah Link Road. – Bernama
The Star
08-05-2025
- Business
- The Star
Fibromat makes lacklustre debut on ACE Market
KUALA LUMPUR: Fibromat (M) Bhd made a lacklustre debut on Bursa Malaysia's ACE Market today, following its transfer from the LEAP Market. The geotechnical services firm opened at 46 sen, 16 per cent below its initial public offering (IPO) price of 55 sen per share. Fibromat specialises in the design, manufacturing, installation, and trading of geosynthetics and erosion control products. Executive director Wallace Ng Chun Hou said the company may need to strengthen its performance further to build investor confidence. "We grew from a small company into a more integrated geotechnical solutions provider, and today, many of our customers, including developers and government agencies, believe in us. "But from a capital market perspective, we acknowledge there is still room for improvement. We need to continue delivering strong performance to build investor confidence over time," he said at a press conference in conjunction with the listing. Fibromat is the latest ACE Market listing to underperform, with all eight debuts since March closing below their IPO prices on the first day. Wallace also suggested that the weak market performance may be due to limited public awareness and understanding of the value of its specialised work. "When the public sees greenery along highways, they do not know the engineering behind it. We are proud of our contributions, but we also recognise the need to raise awareness - and we believe this will help better reflect our value in the capital market,' he said. Meanwhile, Fibromat's Managing Director and Chief Executive Officer, Ng Kian Boon, said the IPO raised RM17.8 million in proceeds. "With the RM17.8 million raised from the initial public offering, we plan to use about RM7.6 million to purchase two jute-based erosion control blanket stitching machines and four dust collectors with ducting. "All the new machines will be installed at our factory located in Rasa, Selangor, to expand our production of erosion control blankets,' he said. He added that the company also plans to enhance its in-house capabilities by setting up a prefabricated vertical drain (PVD) installation team and acquiring five hydraulic excavators. PVDs are geosynthetics installed in soft ground to improve soil stability. Fibromat's notable projects include the West Coast Expressway, the Sarawak Second Trunk Road, and Phase 1A of the Sabah Pan Borneo Highway. The company is also actively bidding for contracts under Phase 1B of the Sabah Pan Borneo Highway and the Sarawak-Sabah Link Road. - Bernama
New Straits Times
08-05-2025
- Business
- New Straits Times
Fibromat's LEAP to ACE falls flat as shares open 16pct below IPO price
KUALA LUMPUR: ACE Market debutant Fibromat (M) Bhd joined the list of initial public offering (IPO) laggards, opening 16.36 per cent below its issue price. The geotechnical services firm, formerly listed on the LEAP Market, began trading at 46 sen—nine sen below its IPO price of 55 sen. As at 9.15am, the stock was trading at 46.5 sen after touching a low of 41 sen earlier, with 11.36 million shares exchanged. Fibromat was the third most actively traded stocks in the morning session, falling short of the typical IPO debut frenzy. The company marks the twentieth IPO on Bursa Malaysia this year, joining a wave of listings grappling with volatility sparked by tariff-related global headwinds. West River Bhd, which listed earlier this week, also saw a muted debut on Monday. At 55 sen a share, Fibromat's IPO brought in RM17.8 million in proceeds. The proceeds will be used to purchase new machinery, including stitching machines and dust collectors, and to strengthen its in-house capabilities. The company plans to form its own prefabricated vertical drain installation team and acquire five hydraulic excavators to boost operational capacity at its factory in Selangor. Fibromat's core business includes the design, manufacturing, installation and trading of geosynthetics and erosion control products. Its portfolio includes projects such as the West Coast Expressway, Sarawak Second Trunk Road and Phase 1A of the Sabah Pan Borneo Highway. It is also actively bidding for jobs under Sabah Pan Borneo Highway Phase 1B and the Sarawak-Sabah Link Road.
Malaysian Reserve
02-05-2025
- Business
- Malaysian Reserve
CTOS counter at all-time low, expat management passing leadership baton
CREDIT reporting agency CTOS Digital Bhd, with its shares hitting near all-time low, is seeing the departure of its chief at a time when it missed targets for three consecutive quarters. In a report released on April 28, BIMB Securities maintained its 'Buy' call on the counter but loweredits 52-week target price (TP) to RM1.27 from RM1.33 to reflect its trimmed FY25 earnings. On the same day, HLIB Research downgraded the counter to a 'Hold' from 'Buy' on April 28 with a TP of RM1.10. CTOS closed at 99 sen on Wednesday, after hitting a 52-week high of RM1.51. For the first quarter ended March 31, 2025 (1Q25), CTOS's net profit plunged 31% to RM14.4 million on a turnover of RM76.1 million which was up 6% from the same period last year. The segment profit from the Malaysia operations decreased by 29% to RM17.8 million compared to RM25.2 million in the corresponding period, mainly due to higher sales but offset by higher operational expenditures, it told the exchange. On April 25, CTOS also informed Bursa Malaysia the impending departure of its group CEO Erick Hamburger 'to explore new career opportunities.' It said both sides have mutually agreed that Hamburger's last day of employment will be on Sept 30 and Erick will be on leave from May 1. Until a suitable candidate has been identified, CTOS said the board has appointed its non-independent director Kevin Loh Kok Leong as Interim GCEO with effect from May 1. In its report, BIMB Securities, a unit of Bank Islam Malaysia Bhd (BIMB), noted the resignation of Hamburger and group chief technical officer James Fancourt Mitchell. 'This development is not entirely surprising after CTOS missed targets for three consecutive quarters. A wave of staff departures and market chatter around a key shareholder-led overhaul was on-going. On the bright side, this is arguably the right moment for the expat management to pass the baton to leadership with deeper local roots,' it said. While the basics and foundations of the CRA model can be replicated easily from developed markets, it said long-term success ultimately hinges on local adaptation and customisations. On its outlook, it said the business should continue to expand, supported by solid macro drivers and established systems and its brand prominence. HLIB Research said it noted that CTOS' 1Q25 core profit fell 31% year-on-year (YoY) due to lower gross profit margin (weighed down by less favourable sales mix) and higher opex (rise in marketing and administrative costs). 'Overall, results were below expectations and thus, we cut FY25-26 earnings by 14-15%. Also, we introduced FY27 estimates and flagged a potential profit cliff that unfortunately requires a recalibration in investor expectations. As such, the stock's risk-reward profile is no longer as compelling as before,' it said. — TMR
