Latest news with #RM4.70
New Straits Times
28-04-2025
- Business
- New Straits Times
EPF accumulates Gamuda shares, cuts position in KPJ Healthcare
Muhammed Ahmad Hamdan KUALA LUMPUR: The Employees Provident Fund (EPF) has been snapping up shares in Gamuda Bhd, lifting its stake in the property and infrastructure giant by more than four percentage points since the start of the year. EPF now holds an 11.91 per cent stake or 686.64 million shares in Gamuda, up from 7.51 per cent or 427.37 million shares on Jan 2. This represents a net accumulation of 259.27 million shares over the past four months. Gamuda's stock last changed hands at RM3.99, 15.11 per cent or 71 sen lower than RM4.70 at the start of the year. It's market capitalisation stood at RM20.01 billion. Year-to-date, the stock has traded between a low of RM3.59 and a high of RM5.20, compared to its 52-week range of RM2.60 to RM5.38. The counter has received five 'strong buy', 12 'buy' and two 'hold' calls, with a consensus target price of RM5.27, according to Bursa Marketplace. The 12-month target price implies an upside potential of 32.15 per cent from the current price of RM3.99. Gamuda, which pays semiannual dividends, declared a first interim payout of five sen per share on Jan 23, together with a dividend reinvestment plan at RM3.81 per share. For the second quarter ended Jan 31, 2025, the group posted a 17 per cent year-on-year jump in revenue to RM3.90 billion, while net profit climbed five per cent to RM218.85 million. Cumulatively, for the first half of its financial year, revenue surged 31 per cent to RM8.04 billion, with net profit rising five per cent to RM424.24 million compared to the same period a year ago. RHB Investment Bank Bhd, which has a 'buy' call on Gamuda, said the group boasts strong prospects from upcoming infrastructure projects. It cited Gamuda's secured role in the Penang Light Rail Transit project and its potential participation in water infrastructure projects, including the Sungai Perak–Bukit Merah Dam and Sungai Rasau Water Supply Scheme Stage 2. It said Gamuda is also a key partner in the Upper Padas Hydroelectric Dam project in Sabah and is among the contenders for major contracts under the Mass Rapid Transit 3 project. Meanwhile, EPF has also been increasing its holdings in several other blue-chip companies, including Tenaga Nasional Bhd (TNB), MISC Bhd, Sunway Bhd, and Sime Darby Property Bhd. Year-to-date, the fund has raised its stake in TNB by 2.23 percentage points to 20.46 per cent, representing a net accumulation of 132.89 million shares. TNB last traded at RM13.56, giving it a market capitalisation of RM79.05 billion, down 8.07 per cent or RM6.94 billion from RM85.99 billion when it was trading at RM14.76 on Jan 2. EPF also accumulated 46.90 million shares in MISC to raise its stake to 13.69 per cent, 59.63 million shares in Sunway to 8.65 per cent and 66.95 million shares in Sime Darby Property to 8.51 per cent. On the flip side, EPF has trimmed its stakes in several companies, notably KPJ Healthcare Bhd, where it sold 107.09 million shares, reducing its stake to 9.7 per cent from 12.16 per cent. KPJ last traded at RM2.72, 15.74 per cent higher than its Jan 2 price of RM2.35, giving the healthcare group a market capitalisation of RM12.31 billion. The fund also cut its holdings in Axiata Group Bhd by 75.63 million shares to 17.55 per cent, in AMMB Holdings Bhd by 23.90 million shares to 12.70 per cent, and in Sunway Real Estate Investment Trust by 7.07 million units to 15.95 per cent.
Malay Mail
22-04-2025
- Business
- Malay Mail
Bursa Malaysia ends in red as financial, industrial stocks take a hit
KUALA LUMPUR, April 22 — Bursa Malaysia ended lower on selling activities in the financial services and industrial products and services sectors' heavyweights, amid tensions between US President Donald Trump and Federal Reserve chair Jerome Powell. The tensions, coupled with global uncertainty, have sparked investors' concern, prompting them to remain cautious. CIMB gave up 11 sen to RM6.75, Hong Leong Bank slid 44 sen to RM19.54, and Press Metal Aluminium erased 10 sen to RM4.70. These counters dragged the composite index down by a combined 5.04 points. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 13.22 points or 0.88 per cent to 1,486.25 from Monday's close of 1,499.47. The benchmark index opened 7.03 points lower at 1,492.44 and moved between 1,482.70 and 1,492.44 during the early session. Market breadth was negative, with decliners outpacing gainers 631 to 302, while 397 counters were unchanged, 1,095 untraded and 30 suspended. Turnover advanced to 3.43 billion units valued at RM1.66 billion against Monday's 1.53 billion units valued at RM1.19 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market sentiment remains cautious globally after Trump lashed out at Powell, raising fears about political interference in monetary policy and dampening optimism over the US economy. 'Back home, we see today's profit-taking mainly on banks, construction and energy sectors' heavyweights as an opportunity for bargain hunters given the cheaper valuations of the benchmark index. 'We foresee the FBM KLCI continuing to test the psychological barrier of 1,500 this week, anticipating it to trend within 1,470-1,500,' he told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the lower FBM KLCI close today reflected mounting global uncertainty amid renewed trade tensions under the new US administration. 'Investor sentiment remains subdued, weighed down by three interrelated concerns: the unclear trajectory of US trade policy, perceived threats to the Fed's independence, and downward revisions to first-quarter 2025 corporate earnings,' he said. He said that over the weekend, risk appetite deteriorated further after Trump intensified his public criticism of Fed chair Powell, calling for immediate interest rate cuts. 'Reflecting these concerns, all banking stocks within the FBM KLCI ended in negative territory today as investors feared that any politically driven move against Powell could destabilise US monetary policy and send shockwaves through global markets — posing heightened risks to financial systems in emerging economies, which tend to be more vulnerable to external shocks,' he added. Among other heavyweights, YTL Power International slipped nine sen to RM3.17, YTL Corporation lost six sen to RM1.77, Public Bank edged down three sen to RM4.37, however, Maxis gained five sen to RM3.54 and Axiata added one sen to RM1.96. As for the actives, NexG rose one sen to 35.5 sen, Aumas inched up two sen to 80 sen, while Ingenieur Gudang trimmed half-a-sen to 3.5 sen, Tanco shaved 3.5 sen to 84.5 sen and My E.G. Services was two sen lower at 89 sen. On the index board, the FBM Emas Index decreased 96.37 points to 10,999.02, the FBMT 100 Index was down 98.75 points at 10,786.96, the FBM Emas Shariah Index tumbled 86.63 points to 10,798.44, the FBM 70 Index sank 151.85 points to 15,356.39, and the FBM ACE Index ticked down 5.10 points to 4,561.10. Sector-wise, the Financial Services Index dropped 159.20 points to 17,849.95, the Industrial Products and Services Index edged down 1.57 points to 142.46, the Energy Index depreciated 5.58 points to 654.43, however, the Plantation Index picked up 5.19 points to 7,216.32. The Main Market volume increased to 1.25 billion units worth RM1.37 billion against yesterday's 1.08 billion units worth RM1.09 billion. Warrants turnover improved to 1.90 billion units valued at RM194.42 million from 155.08 million units valued at RM96.06 million previously. The ACE Market volume narrowed to 274.01 million units worth RM97.09 million compared to 301.51 million units worth RM91.09 million on Monday. Consumer products and services counters accounted for 170.57 million shares traded on the Main Market, industrial products and services (282.44 million), construction (111.39 million), technology (214.05 million), SPAC (nil), financial services (63.41 million), property (148.76 million), plantation (20.38 million), REITs (8.86 million), closed/fund (10,000), energy (87.09 million), healthcare (65.40 million), telecommunications and media (18.84 million), transportation and logistics (23.39 million), utilities (34.89 million), and business trusts (9,200). — 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.
