Latest news with #RM19.08
BusinessToday
08-08-2025
- Business
- BusinessToday
Stock Today: Hong Leong Bank Eases Slightly Amid Thin Trading
Shares in Hong Leong Bank Bhd closed marginally lower on Thursday, slipping 0.10% to RM19.10 as at 3.28 pm, amid subdued investor activity. The counter opened at RM19.00 and moved within a narrow range, touching a high of RM19.16 and a low of RM18.98. Volume stood at 616,000 shares traded, with modest buying interest seen on the bid side. At last look, the stock was quoted at RM19.08 on the buy queue and RM19.10 on the sell side. Its last closing price was RM19.12. While no fresh corporate developments were announced, the broader financial services sector traded cautiously ahead of key economic data expected later this week, with traders taking a wait-and-see approach. Despite the minor dip, Hong Leong Bank's year-to-date price movement shows relative resilience, having mostly traded within the RM18 to RM21 band over the past six months.
New Straits Times
01-07-2025
- Business
- New Straits Times
Limited impact on Petronas Gas earnings after pipeline incident
KUALA LUMPUR: CIMB Securities remains upbeat on Petronas Gas Bhd (PetGas), maintaining a "buy" recommendation on the counter despite a projected RM60 million earnings impact from the April 1 pipeline failure in Putra Heights. The research house said PetGas's steady earnings outlook, strong balance sheet and solid dividend yield continue to support its valuation, with a discounted cash flow-based target price unchanged at RM19.08. "At a forecast price-to-earnings ratio of 17.7 times for the financial year 2025, the stock appears fairly priced given its strong fundamentals and stable cash flow profile," it said in a note today. The firm also downplayed concerns over regulatory penalties or third-party liabilities, noting that official investigations had attributed the incident to environmental and geological factors beyond the company's control. The Department of Occupational Safety and Health concluded that unstable soil beneath the gas transmission pipeline led to physical failure and a gas leak, which triggered the fire. Police investigations found no evidence of foul play, while the pipeline was confirmed to have met all technical specifications. Selangor Menteri Besar Datuk Seri Amirudin Shari said the incident was due to multiple environmental factors, including unstable soil, prolonged underground water retention, compromised drainage systems and urban development. PetGas has estimated a total earnings impact of RM60 million for the financial year ending Dec 31, 2025, which will be largely recognised in the second and third quarters. The company expects repair and asset restoration costs to reach approximately RM170 million, with a portion to be capitalised under capital expenditure (capex). Insurance claims are projected to recover less than RM50 million, while revenue loss from service disruption is estimated at around RM20 million. Despite the setback, PetGas is forecast to post a core net profit of RM1.97 billion in financial year 2025, up from RM1.82 billion in 2023. Dividends are expected to increase slightly to 75 sen per share, representing a yield of 4.3 per cent.
