Latest news with #RM7.73
New Straits Times
22-05-2025
- Business
- New Straits Times
Analyst ups Solarvest earnings forecast, raises target price to RM2.28
KUALA LUMPUR: Maybank Investment Bank (Maybank IB) has raised its earnings forecasts for Solarvest Holdings Bhd, citing higher assumed annual orderbook replenishment of RM1 billion and stronger contributions from the company's associates. The firm raised its estimations for financial year 2026 (FY26) and FY27 by 23 per cent and 22 per cent, respectively. It also introduced projections for FY28, noting improved earnings visibility supported by Solarvest's strong project execution capabilities and growing share of recurring income. In tandem with the upward revision, the firm raised its target price for Solarvest to RM2.28 per share, up from RM2.14 previously, while reiterating its 'Buy' recommendation. The upgrade follows Solarvest's strong financial performance for FY25, where core net profit came in above expectations — achieving 108 per cent of both Maybank IB's and consensus forecasts. Solarvest Holdings Bhd reported a net profit of RM20.53 million for the fourth quarter ended March 31, 2025, nearly tripling from RM7.73 million a year earlier. Revenue for the quarter surged 132 per cent year-on-year to RM224.87 million, driven by increased roll-outs of utility-scale solar projects under the Corporate Green Power Programme. For the full FY25, the group posted a net profit of RM51.94 million, up 59 per cent from the previous year, while revenue rose eight per cent to RM536.82 million. "The earnings beat was mainly driven by stronger-than-expected engineering, procurement, construction and commissioning margins, despite some revenue shortfall in the EPCC segment, which is now to be recognised in FY26," the firm added. Maybank IB said Solarvest's outstanding orderbook stood at RM1.24 billion as of end-March 2025, which is expected to be progressively recognised over the FY26 to FY28 period. "Under its Powervest programme, it has secured 129 megawatt-peak in corporate power purchase agreements, which are expected to contribute around RM50.8 million in annual recurring revenue after completion, expected in the next 12 to 18 months," it said. Solarvest is actively pursuing opportunities under the upcoming large scale programmes LSS5+ and LSS6 tenders, as well as initiatives such as Net Energy Metering 3.0, New Enhanced Dispatch Arrangement, Battery Energy Storage Systems and Self-consumption.
New Straits Times
21-05-2025
- Business
- New Straits Times
Solarvest Q4 net profit nearly triples to RM21mil, eyes RM2bil orderbook by FY26
KUALA LUMPUR: Solarvest Holdings Bhd reported a net profit of RM20.53 million for the fourth quarter ended March 31, 2025 (4QFY25), nearly tripling from RM7.73 million a year earlier, it said in a bourse filing. Revenue for the quarter surged 132 per cent year-on-year to RM224.87 million, driven by increased roll-outs of utility-scale solar projects under the Corporate Green Power Programme (CGPP). For the full financial year (FY2025), the group posted a net profit of RM51.94 million, up 59 per cent from the previous year, while revenue rose eight per cent to RM536.82 million. Solarvest maintained a solid project pipeline, with an unbilled order book of RM1.24 billion as of March 31, 2025, to be recognised progressively over FY2026 and FY2027. "We are confident to reach more than RM2 billion orderbook in FY26," said executive director and chief executive officer Davis Chong Chun Shiong. "This will be supported by additional LSS5 contracts, the anticipated LSS5+ award, as well as our active participation in battery energy storage systems and the upcoming LSS6 tenders in the second and third quarters of this calendar year. "In light of the potential rise in Malaysia's electricity tariffs in July, we also foresee improved project feasibility under the Corporate Renewable Energy Supply Scheme to create compelling opportunities to scale beyond our orderbook target," he added. Solarvest has capitalised on various national energy initiatives, including the Net Energy Metering 3.0 (NEM 3.0), battery energy storage system (BESS) and solar energy self-consumption (SelCo) programmes. Its Powervest programme has secured 129 megawatt peak (MWp) in corporate power purchase agreements, expected to yield RM50.8 million in annual recurring revenue. Looking ahead, the group is optimistic about its growth prospects, aligning with the government's target of achieving 70 per cent renewable energy in the energy mix by 2050. Meanwhile, Solarvest assured that it is not affected by recent United States tariff developments, as its solar panels are directly sourced from China. "Cost-wise, we expect solar panel prices to remain stable due to the prevailing supply-demand imbalance and market oversupply," Chong said.
Free Malaysia Today
24-04-2025
- Business
- Free Malaysia Today
M'sia's timber products still desirable in US despite tariffs, says Johari
Plantation and commodities minister Johari Ghani said his ministry is closely monitoring the issue of some exporters manipulating the certificate of origin for timber products. KUALA LUMPUR : Malaysia's timber exports remain desirable in the US market despite the newly imposed tariffs, says plantation and commodities minister Johari Ghani. He attributed the continued demand to Malaysia's reputation for high-quality timber products and competitive prices. 'Despite the tariff, which is currently at 10%, exports are still strong due to the good quality and design of our products. People are willing to pay the price,' he told reporters after attending the Malaysian Timber Industry Board appreciation ceremony here today. In 2022, Malaysia exported timber and timber products worth RM7.73 billion to the US. This was a steady increase from RM3.76 billion in 2018. On April 2, US president Donald Trump imposed a blanket tariff of 10% on imports and added 'reciprocal tariffs' on countries with large trade surpluses with the US. Malaysia was hit with a 24% tariff – lower than Vietnam (46%), Cambodia (49%) and Indonesia (32%). Trump subsequently paused the implementation of these tariffs for 90 days, except for China which faces a steep levy of 145%. Johari also addressed concerns over companies attempting to manipulate trade routes by changing the certificate of origin of timber products for export. He said his ministry was actively monitoring the issue, and warned that timber exports must contain at least 60% local added value, even if some materials are sourced from abroad. He said only raw timber materials could be imported for processing, with certificates of origin granted only if substantial local value is added. Johari also cautioned that failure to curb such practices could jeopardise the credibility of legitimate Malaysian exporters amid escalating global trade tensions. In February, it was reported that the export value of timber products increased 4.9% to RM22.9 billion last year, compared to 2023. The timber industry was the third-largest export contributor for agricommodity products after palm oil (RM114.4 billion) and rubber (RM33.7 billion).
