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The Star
14-05-2025
- Business
- The Star
DKSH shares hit seven-month high after strong quarterly results
KUALA LUMPUR: Shares in DKSH Holdings (M) Bhd rose to their highest in about seven months after reporting earnings in line with expectations in the latest quarterly results. DKSH, one of the top gainers on Bursa Malaysia, rose 5.21%, or 26 sen, to RM5.25 at 9.32 am, its highest level since late October. The counter has gained 6.06% so far this year. In the first quarter ended March 31, 2025 (1Q25), DKSH's net profit rose 19% year-on-year to RM48.2mil or 30.56 sen per share, on sales growth, improved cost efficiencies and favourable foreign exchange gains. Additionally, revenue for the quarter rose 7.1% to RM2.22bil from RM2.07bil in 1Q24. Hong Leong Investment Bank Research (HLIB Research) said DKSH's latest financial results accounted for 36% of their full-year forecast and 40% of consensus estimates, which it said is broadly in line, considering the seasonal uplift from Chinese New Year and Hari Raya. 'We are encouraged by the strong start to the year, supported by robust festive-driven consumption. While some moderation is expected in the coming quarters due to high base effects, DKSH remains well-positioned to benefit from consumers' better disposable income trend. 'This is underpinned by government initiatives such as the EPF Account 3 withdrawals, civil service wage hikes, and an increased minimum wage, all of which are likely to lift discretionary spending. With a balanced portfolio spanning premium brands and essential consumer staples, DKSH offers resilient exposure to both ends of the spending spectrum,' HLIB Research said. HLIB Research has maintained a "buy" call on DKSH with a target price of RM6.95, based on a P/E multiple of 6.7x on its FY25f EPS. The research house continues to favour DKSH for its diverse product portfolio, which includes both premium and affordable products.
The Star
14-05-2025
- Business
- The Star
FBM KLCI opens slightly higher but drifts lower on profit-taking
KUALA LUMPUR: The FBM KLCI opened higher on relief over the trade war reprieve but quickly reversed course, drifting lower on profit-taking after yesterday's strong gains. The market barometer fell 3.85 points, or 0.24%, to 1,578.54 at 9.09 am. The index opened 0.84 of a point higher at 1,582.39. Overnight, the Dow Jones Industrial Average fell 0.64%, to 42,140.43, the S&P 500 gained 0.72%, to 5,886.55 and the Nasdaq Composite gained 1.61%, to 19,010.09. On Bursa Malaysia, F&N rose 26 sen to RM26.86, DKSH added 26 sen to RM5.25, BLD Plantation gained 20 sen to RM11.20 and Malaysian Pacific Industries climbed 16 sen to RM21.14. Conversely, Heineken fell 24 sen to RM27.30, CIMB declined nine sen to RM7.22, Ayer lost 10 sen to RM7.70 and Panasonic Manufacturing eased 10 sen to RM13.90. Inter-Pacific Research said the key index may continue its upward trajectory as strong buying interest, especially from foreign funds, returns. It said the positive momentum is also supported by improved global equity market sentiment, following signs of easing in the trade dispute between the U.S. and China. However, the research house noted that some hesitation may emerge in the upcoming session, as recent strong gains have pushed technical indicators towards overbought levels. At the same time, market participants are likely to remain cautious ahead of the 1Q2025 GDP data due this Friday, as they look for signs of how tariffs have affected the country's economic performance. As such, it noted that any further upside may be more limited given the already toppish conditions, with potential bouts of profit-taking likely to slow the market's momentum. 'On the upside, the hurdles are now at 1,586-1,590 levels, which also corresponds to the 200-day moving average line that may serve as a significant resistance level. 'The other hurdle is at the psychological 1,600 level, while the supports are at the 1,575 points and 1,565 points respectively,' Inter-acific said.
