Latest news with #RM3.64
Barnama
3 days ago
- Business
- Barnama
MISC Shares Down On Weaker 1Q FY2025 Results
BUSINESS KUALA LUMPUR, May 29 (Bernama) -- MISC Bhd's shares fell in early trade after its net profit for the first quarter ended March 31, 2025 (1Q FY2025) dropped year-on-year on the back of lower revenue for the quarter. At 9.44 am, MISC slipped two sen to RM7.51, with 48,900 shares transacted. In a filing with Bursa Malaysia yesterday, MISC's net profit eased to RM705.70 million in 1Q from RM759.90 million a year earlier, while revenue declined to RM2.82 billion against RM3.64 billion. The lower revenue was primarily weighed down by lower revenue from the marine and heavy engineering segment by 54.0 per cent, it said. Despite the weaker performance, Hong Leong Investment Bank Bhd (HLIB) and CIMB Securities Sdn Bhd maintained their buy calls on a positive earnings outlook. HLIB said despite a dismal outlook in MISC's gas segment, it still expects group earnings growth in FY2025 to be driven by the petroleum division and offshore business. 'Our FY2025/2026 profit forecasts are adjusted slightly by -0.3 per cent/-3.7 per cent. We also introduce FY207 earnings forecast at RM2.49 billion,' it said in a note today. CIMB Securities said it expects earnings to normalise in the following quarters, in the absence of the one-time gain from floating production storage and offloading (FPSO) vessel Bunga Kertas. 'A dividend per share of eight sen was declared, in line with our forecast.
The Star
4 days ago
- Business
- The Star
Lower revenue from key segments weighs on MISC's 1Q 2025 earnings
KUALA LUMPUR: MISC Bhd 's net profit eased to RM705.70 million in its first quarter ended March 31, 2025 (1Q 2025) from RM759.90 million in the same period a year earlier on the back of lower revenue for the quarter. Revenue for the quarter declined to RM2.82 billion against RM3.64 billion year-on-year, primarily weighed down by lower revenue from the marine and heavy engineering segment by 54.0 per cent. The segment recorded a revenue of RM453.1 million, which was RM531.4 million lower than the corresponding quarter's revenue of RM984.5 million, mainly attributable to lower revenue from ongoing heavy engineering projects. "This is due to several projects nearing completion, resulting in lower activity and revenue, while the newer projects are still at early stages,' MISC said in a filing with Bursa Malaysia today. Additionally, the group said that the lower revenue in the gas assets and solutions segment was primarily due to lower earning days resulting from contract expiries, vessel disposals, and lower charter rates during the current quarter. Revenue for the segment stood at RM636.2 million, which was RM139.1 million or 17.9 per cent lower than the corresponding quarter's revenue of RM775.3 million. - Bernama
New Straits Times
22-04-2025
- Business
- New Straits Times
Gold ETF outshines peers, up 29pct on safe-haven demand
KUALA LUMPUR: The Tradeplus Shariah Gold Tracker ETF (Gold ETF) has emerged as the top-performing exchange-traded fund (ETF) on Bursa Malaysia so far this year, riding the wave of a gold rally as investors flock to safe havens amid escalating global trade tensions. The fund, backed by physical gold, has soared 29.1 per cent year-to-date (YTD), from RM3.64 per unit on Jan 2 to RM4.70 on April 21, bringing its market capitalisation to RM1.21 billion. The Gold ETF, with a net asset value (NAV) of RM4.53, far outpaced five other ETFs that also recorded gains this year among the 17 listed on the local exchange. The Kenanga KLCI Daily (-1X) Inverse ETF, which profits from short-term market downturns, rose 8.4 per cent. The EQ8 MSCI Malaysia Islamic Dividend ETF, which tracks high-yielding Shariah-compliant Malaysian stocks, gained 6.2 per cent. China-themed funds also made headway, with the Tradeplus S&P New China Tracker-MYR and Principal FTSE China 50 ETF climbing 6.4 and 4.1 per cent, respectively. The Tradeplus MSCI Asia ex Japan REITs Tracker, which provides exposure to regional real estate investment trusts (REITs), added 2.4 per cent. Launched on Dec 6, 2017, with an indicative NAV of RM1.706, the Gold ETF has delivered a cumulative return of over 165 per cent, with units in circulation growing from 11.6 million to more than 42 million. Along the way, it has also trimmed its management fee from 0.5 per cent to 0.3 per cent per annum, offering better value to long-term investors. The counter has seen notable trading volumes almost daily since April 3, a day after United States President Donald Trump signed off on reciprocal tariffs, including a 24 per cent levy on Malaysian goods. The has led to heightened market volatility and accelerated a global flight to gold, widely regarded as a safe-haven asset. SPI Asset Management managing director Stephen Innes described the rally as a classic case of macro hedging in a world where traditional market correlations are breaking down and confidence in the old playbook is fading. He said while real yields are trending lower, the real driver behind gold's momentum is a growing sense that something is structurally amiss in the broader risk markets. "Equity volume is underpriced, credit spreads are sticky and geopolitics is one tweet away from torching the tape," he told Business Times. "The tariff storm isn't easing — it's morphing. Foreign exchange is trading like a cat on a hot tin roof. And in the middle of all that? Gold looks like the cleanest hedge in the room." Gold prices have hit a series of all-time highs, climbing from RM455.62 per gram on April 10 to RM480.35 per gram on April 21, amid rising geopolitical uncertainty and expectations of prolonged global trade disruptions. The yellow metal has gained 28.5 per cent so far this year. Managed by Affin Hwang Asset Management, the Gold ETF tracks the London Bullion Market Association Gold Price AM, the world's benchmark reference for spot gold. While ETFs are generally favoured by long-term investors, the Gold ETF's strong price momentum and increased trading volume suggest broader interest from both retail and institutional players seeking to hedge against macroeconomic risks. Bank Muamalat chief economist Dr Mohd Afzanizam Abdul Rashid said de-dollarisation has picked up pace since the April 2 reciprocal tariff move and the subsequent 90-day pause. He said these policy swings have weakened the US dollar and driven up US Treasury yields, sending gold prices to new highs. "This should attract more interest in gold-related investments, including ETFs," he said. BIMB Securities Research said gold has evolved from a mere hedge to a strategic allocation, a vital asset in a world where the US has weaponised not only foreign reserves, as seen with Russia and Iran, but now global trade itself. The firm has upgraded its 'Buy' rating on the Gold ETF, raising the target price to RM4.78 from RM4.30 following a revised gold price forecast of US$3,500 per ounce (RM537.79 per gram) by the end of 2025. "Gold has reasserted itself as the world's ultimate safe-haven, not merely as a hedge against inflation or geopolitical disruption, but as a deeper response to crumbling fiat credibility, rising geopolitical challenges, dislocation of traditional diversification swaps and the quiet creep of stagflation." Meanwhile, 11 ETFs are currently trading below their Jan 2 levels, including the Principal FTSE Asean 40 Malaysia ETF, which is set to be delisted by the end of May. Year-to-date, the fund has declined 4.3 per cent. Trading of the ETF's units was suspended on April 4 to facilitate the termination of the fund, which tracked the performance of the 40 largest stocks across Asean markets. The EQ8 Dow Jones US Titans 50 ETF is the biggest loser among ETFs on Bursa Malaysia, having dropped 17.2 per cent YTD, from RM3.02 on Jan 2 to RM2.50 on April 21.
