Latest news with #RM3.67
The Star
22-05-2025
- Business
- The Star
Petron Malaysia posts higher net profit of RM81mil in 1Q
KUALA LUMPUR: Petron Malaysia Refining and Marketing Bhd posted a higher net profit of RM81.03 million in the first quarter (1Q) ended March 31, 2025, compared to RM69.71 million in the same period last year. The company said its higher net profit was driven by better production and efficiency at the Port Dickson refinery, cost-effective sourcing from Petron Singapore Trading Pte Ltd, and strong hedging strategies. However, revenue dropped to RM3.67 billion in 1Q 2025, compared to RM4.65 billion in the same period last year, driven by lower sales volume and prices. "Despite the drop in revenue, gross profit rate improved to 4.5 per cent from 3.9 per cent last year, as the impact of weaker refining cracks were mitigated by the various process efficiencies implemented across the company, closing the period with an operating income of RM115.34 million," it said in a stock exchange filing. On its prospects, Petron Malaysia said the company remains committed to pursuing sustainable growth through its continued retail network expansion, as well as plant and terminal facilities, and process improvement programmes. The group now has 810 service stations operating across Malaysia, including the recently opened stations such as the northbound Petron Mambau in Negeri Sembilan, which is the first station certified by GreenRE in the silver category. "This station will serve as Petron's model for building more environment-friendly service stations in the future. It would underscore the company's commitment to sustainable and efficient operation, while enhancing customer experience through innovative, convenient, and environmentally responsible programmes," it said. - Bernama
Malay Mail
30-04-2025
- Business
- Malay Mail
Bursa bounces back as market rebounds on foreign inflows and easing trade fears
KUALA LUMPUR, April 30 — Bursa Malaysia bounced back from yesterday's losses to close on a firmer footing today, with the key index gaining 1.63 per cent, buoyed by bargain hunting, renewed foreign fund inflows, and signs of easing trade-related anxieties. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 24.66 points to 1,540.22 from yesterday's close of 1,515.56. The market bellwether opened 2.51 points higher at 1,518.07, marking its intraday low, and climbed to its intraday high at closing. On the broader market, market breadth was positive with 454 gainers outpacing 347 decliners, while 475 counters were unchanged, 1,143 untraded, and 96 suspended. Turnover slid to 2.56 billion units valued at RM2.25 billion against yesterday's 3.04 billion units valued at RM1.81 billion. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the local market displayed resilience, underpinned by the influx of foreign capital and shifting sentiment. 'Notably, US President Donald Trump's tariff 2025 announcement, which initially drove the composite index to a 20-month low of 1,400.59 on April 9, ultimately proved to be a boon in disguise. 'A sectoral symphony unfolded post-tariff, with export-oriented and consumer discretionary stocks harmonising to drive gains. This dynamic emerged as investors rotated into undervalued segments of the market, positioning ahead of potential trade normalisation,' he told Bernama. Besides, he said encouraging geopolitical developments further stabilised sentiment, with Trump's executive order to moderate proposed auto tariffs and ongoing US–South Korea talks reportedly nearing a preliminary 'agreement of understanding'. Meanwhile, Australia's pre-election push for tariff clarity underscored the global reverberations of US trade policy. Mohd Sedek opined that with trade tensions potentially easing, Malaysia's export-heavy sectors may benefit from improved prospects. 'April's journey from sharp declines to a remarkable recovery demonstrates the market's adaptability in the face of volatility. Investors will now focus on the technology and export sectors as key areas for growth in May,' he added. Among the heavyweights, Petronas Chemicals gained 20 sen to RM3.67, Press Metal Aluminium added 11 sen to RM4.90, CIMB put on 10 sen to RM7.12, Petronas Gas rose 68 sen to RM17.50, and Axiata perked up six sen to RM2.10. As for the actives, Nationgate Holdings rose eight sen to RM1.36, RichTech was up three sen to 31 sen, Velesto and WTEC Group rose by half-a-sen each to 15.5 sen and 24 sen respectively, while Tanco Holdings dipped two sen to 86 sen. On the index board, the FBM Emas Index advanced 133.37 points to 11,407.78, the FBMT 100 Index increased 139.48 points to 11,184.44, the FBM Emas Shariah Index jumped 156.56 points to 11,274.29, the FBM 70 Index garnered 40.39 points to 15,945.37, and the FBM ACE Index climbed 10.56 points to 4,628.66. Sector-wise, the Financial Services Index soared 134.50 points to 18,234.61, the Industrial Products and Services Index firmed 2.56 points to 151.48, the Energy Index gained 10.18 points to 688.14, and the Plantation Index leapt 95.07 points to 7,257.42. The Main Market volume rose to 1.33 billion units worth RM2.04 billion against Tuesday's 1.26 billion units worth RM1.57 billion. Warrants turnover slipped to 814.34 billion units valued at RM91.56 million from 1.46 billion units valued at RM140.98 million previously. The ACE Market volume swelled to 417.40 million units worth RM113.82 million compared to 322.42 million units worth RM98.94 million yesterday. Consumer products and services counters accounted for 204.95 million shares traded on the Main Market, industrial products and services (197.39 million), construction (101.33 million), technology (174.53 million), SPAC (nil), financial services (90.53 million), property (164.26 million), plantation (19.04 million), REITs (23.11 million), closed/fund (232,800), energy (175.11 million), healthcare (47.06 million), telecommunications and media (42.22 million), transportation and logistics (32.98 million), utilities (61.37 million), and business trusts (169,200). — Bernama
