Latest news with #RM4.5bil
The Star
29-05-2025
- Business
- The Star
Ekuinas committed direct investments up to RM5bil for FY24
KUALA LUMPUR: Ekuiti Nasional Bhd's (Ekuinas) cumulative committed direct investments rose to RM4.9bil last year (FY24) from RM4.5bil a year ago, with total economic capital deployed at RM5.6bil. In a statement yesterday, the government-linked private equity company said funds under management increased by 19% to RM5bil. Its operating expenditure-to-funds under management ratio remained steady at 1.1%. The private-equity company said the gross internal rate of return (GIRR) for the Ekuinas Direct Tranche IV Fund was 38.9%, while Tranche II Fund was 12%. 'Ekuinas Direct Tranche III Fund showed modest improvement with a GIRR of 1.6%. Meanwhile, our outsourced programme reported GIRRs of 3.8% for Tranche I and minus 6.9% for Tranche II,' Ekuinas said. The earnings before interest, tax, depreciation and amortisation (Ebitda) of portfolio companies under Ekuinas Direct Funds grew by 3.3%, rebounding from a 7% contraction in 2023. Unitar Education group recorded Ebitda of 77.2% while Medispec (M) Sdn Bhd and Exabytes Capital Group achieved 48.7% and 30.9% Ebitda growth, respectively. — Bernama
The Star
19-05-2025
- Business
- The Star
T7 Global showing likely to be affected by BHS delays
PETALING JAYA: Delays in the KLIA baggage handling system (BHS) project is expected to weigh on T7 Global Bhd 's earnings. Phillip Research cut its 2025-2026 earnings per share forecasts by 16% to 17% for T7 Global to account for slower work progress and lower margins. It maintains its 'buy' call with a lower target price of 34 sen from 66 sen a share on the company after rolling forward its valuation. The key risks to its stock call include operational delays at its existing mobile offshore production units or Mopus, further postponement in BHS works, and higher-than-expected operating costs Given that the BHS project accounts for 17% and 21% of T7 Global's 2024 revenue and profit after tax, respectively, any continued delays will weigh on its industrial solution division and pose downside risks to its 2025-26 earnings forecasts, the research house stated. T7 Global completed Phase 1 of the KLIA BHS upgrading work in KLIA Terminal 1 in February 2025. However, progress on Phases 2 and 3 has slowed due to the challenges of carrying out works within a live airport environment. The remaining works are now anticipated to be delayed by between one and 1.5 years from the original completion timeline of December 2025. A formal revision to the project timeline has yet to be officially confirmed. Phillip Research expects T7 Global's energy division to anchor long-term growth. T7 Global has emerged as the largest beneficiary of the recently rolled out maintenance, construction and modification (MCM) packages, having secured RM1.7bil worth of contracts. This lifts its total outstanding order book to RM4.5bil. Its Mopus, Elise and Shirley, which began operations in July 2023 and August 2024 respectively, are expected to contribute full-year earnings in 2025. The group is actively bidding for RM13.7bil worth of contracts. These include several floating production, storage and offloading vessels, MCM services, well services, offshore facility decommissioning and government-related projects. Given its strong order book and robust tender pipeline, Phillip Research expects the group's energy division to remain its primary earnings driver, going forward.
