Latest news with #CTOS
Free Malaysia Today
12-06-2025
- Business
- Free Malaysia Today
328 million e-invoices processed by LHDN so far
LHDN's e-invoicing director Rasyidah Che Rosli said some smaller taxpayers have joined the e-invoicing system voluntarily ahead of their mandatory dates. GEORGE TOWN : The Inland Revenue Board (LHDN) has validated more than 328 million e-invoices since the country began its move towards a digital tax system last year. LHDN's e-invoicing director Rasyidah Che Rosli said the numbers came from about 35,000 taxpayers who submitted their records through the new system. 'These are from users in Phases 1 and 2. Some smaller taxpayers have also joined voluntarily ahead of their mandatory dates,' she said, speaking to reporters on the sidelines of an event by CTOS in Bayan Lepas today. LHDN is phasing in e-invoicing by company size, with Phase 1, which started on Aug 1 last year, covering large businesses with annual sales of over RM100 million. Phase 2, which started on Jan 1, covers companies with sales of between RM25 million and RM100 million. Phase 3 (RM5 million-RM25 million turnover) starts on July 1 and Phase 4 (RM1 million-RM5 million) on Jan 1, 2026. The smallest firms (below RM1 million) will come on board by July 1, 2026. The e-invoicing system, part of the government's plan to improve tax compliance and reduce fraud, is meant to help LHDN keep a better record of business deals and make it easier for taxpayers to fill in their tax forms. E-invoices, which let businesses report sales immediately or on a monthly basis, are sent in real time or in monthly groups. The system can also handle self-billed e-invoices, such as for transactions with foreign suppliers or people who do not run businesses.
Free Malaysia Today
11-06-2025
- Business
- Free Malaysia Today
Housing developer loses libel suit against CTOS
The Kuala Lumpur High Court dismissed a suit brought by Bagan Kurnia Development against CTOS Data Systems Sdn Bhd for defamation, negligence and breach of statutory duty with costs of RM50,000. KUALA LUMPUR : The High Court has dismissed a suit brought by a housing developer against credit ratings agency CTOS Data Systems Sdn Bhd for defamation, negligence and breach of statutory duty. Justice Roz Mawar Rozain said the plaintiff, Bagan Kurnia Development (BKD), had failed to discharge the burden of proving each element of its pleaded claim on a balance of probabilities. Roz Mawar said BKD had failed to establish that the trade reference inserted by a third party against the company was defamatory. She described the insertion as a neutral factual assertion which had originated from Lye Yoon Hon Construction Sdn Bhd (LYHC) and was reflected in an ongoing contractual dispute. She also said there was no cogent evidence before the court that CTOS had published the statement. 'There is no proof that CTOS provided or disseminated it to Public Bank Berhad or any other external party,' she said. The judge also ruled that the claim for breach of statutory duty under the Credit Reporting Agencies Act 2010 (CRA) was unsupported by evidence or law. 'The CRA does not impose an obligation on CTOS to independently verify the accuracy of trade references received from its subscribers unless a formal dispute mechanism is invoked, which was not done in this case,' she said in her 14-page judgment. Roz Mawar also ruled that the plaintiff's claim of negligence was untenable in law. She said its claim for RM2 million due to the rejection of a facility, and an additional RM7.3 million in profits, was speculative and had not been proven. She said the fact that CTOS was a credit reporting agency carrying out a statutorily regulated role further underscored the need for courts to scrutinise carefully any attempt to impose liability on such entities. 'A finding of liability in the absence of clear evidence and legal foundation risks undermining the utility of regulated credit reporting and chilling the legitimate functions of licensed agencies,' she said, awarding costs of RM50,000 to CTOS. In its suit, BKD had contended that a trade reference entered by LYHC into CTOS's database in connection with an alleged RM1.1 million debt owed to LYHC by BKD was false and defamatory. The plaintiff further asserted that CTOS, the database operator, had failed to verify the accuracy of the information and had wrongfully allowed it to be published, thereby causing reputational and financial harm. CTOS maintained that as a licensed credit reporting agency, it had operated within the legal parameters of the CRA. It said the subscriber's uploading of the impugned trade reference complied with its standard procedures. Lawyer M Kamalam appeared for the company, while Ashok Kandiah and Mishand Patmanathan represented CTOS.
Yahoo
14-05-2025
- Business
- Yahoo
CTOS Q1 Earnings Call: Revenue Miss Offset by Optimism for Full Year Growth
Heavy equipment distributor Custom Truck One Source (NYSE:CTOS) fell short of the market's revenue expectations in Q1 CY2025 as sales rose 2.7% year on year to $422.2 million. On the other hand, the company's full-year revenue guidance of $2.02 billion at the midpoint came in 2.1% above analysts' estimates. Its non-GAAP loss of $0.08 per share was 67% below analysts' consensus estimates. Is now the time to buy CTOS? Find out in our full research report (it's free). Revenue: $422.2 million vs analyst estimates of $435.5 million (2.7% year-on-year growth, 3% miss) Adjusted EPS: -$0.08 vs analyst expectations of -$0.05 (67% miss) Adjusted EBITDA: $73.43 million vs analyst estimates of $78.2 million (17.4% margin, 6.1% miss) The company reconfirmed its revenue guidance for the full year of $2.02 billion at the midpoint EBITDA guidance for the full year is $380 million at the midpoint, above analyst estimates of $375.9 million Operating Margin: 2.9%, down from 4.5% in the same quarter last year Free Cash Flow was -$56.3 million compared to -$89.93 million in the same quarter last year Backlog: $420.1 million at quarter end Market Capitalization: $1.03 billion Custom Truck One Source's first quarter results reflected mixed trends across its core end markets. Management emphasized that demand remained resilient in its rental segment, with CEO Ryan McMonagle highlighting a 13% year-over-year revenue increase in Equipment Rental Solutions (ERS) and record-high equipment on rent. However, the Truck and Equipment Sales (TES) segment experienced a slower start, only showing momentum late in the quarter. Management cited strong order flow and backlog growth as key supports for its outlook, while also acknowledging ongoing margin pressure due to product mix and industry-wide inventory improvements. Looking ahead, management reaffirmed its full-year revenue and EBITDA guidance, citing secular growth in electricity demand, ongoing federal infrastructure spending, and robust customer activity in core utility markets as drivers. CFO Christopher Eperjesy and CEO McMonagle stated that proactive inventory management and supplier strategies are expected to mitigate the impact of tariffs and regulatory shifts. However, management expressed caution regarding macroeconomic uncertainty and noted that inventory reduction will be weighted toward the second half of the year. Custom Truck One Source's management attributed the quarter's performance to continued rental demand, increased backlog, and proactive inventory moves in response to tariffs and regulatory shifts. Rental Demand Resilience: The ERS segment posted strong year-over-year revenue growth and utilization rates, driven by sustained activity among utility contractors and robust demand for fleet rentals. Backlog and Order Growth: TES segment backlog increased by 14% and net orders grew over 220% year-over-year, with record sales in March and positive order trends continuing into Q2, signaling improving sales momentum. Tariff Mitigation Strategies: Management detailed steps to manage exposure to changing U.S. tariffs, including pulling forward inventory purchases and working with suppliers to secure favorable pricing or shift production to the U.S. where practical. Segment Margin Pressures: TES and Aftermarket Parts and Service (ATS) segments saw gross margin compression due to product mix and higher material costs; management anticipates margin normalization later in the year as inventory and sales mix stabilize. Inventory and Cash Flow Focus: Inventory levels rose as part of a tactical response to external risks, but management plans for reductions in the second half of the year to support free cash flow and leverage targets. Management's outlook for 2025 is centered around sustained demand in core utility markets, proactive risk mitigation, and ongoing investment in fleet and inventory management. Utility Market Strength: Secular trends in electricity demand and infrastructure spending are expected to drive continued activity in the ERS segment, supporting both rental and sales growth. Tariff and Regulation Response: Strategies to manage tariff impacts and regulatory changes, including inventory pulls and supplier engagement, are designed to limit cost inflation and operational disruption. Cash Flow and Leverage Discipline: The company expects to reduce inventory in the second half of the year, which management believes will support positive free cash flow generation and progress toward its leverage reduction goals. Nicole Sheree (Deutsche Bank): Asked about the drivers of anticipated revenue acceleration. CEO McMonagle cited strong ERS demand and a growing TES backlog as supportive factors for improved performance in later quarters. Nicole Sheree (Deutsche Bank): Inquired about the impact of potential infrastructure project pauses. Management stated they have not seen delays reflected in customer orders or backlog, and highlighted customers' ability to pivot between rental and purchase. Tami Zakaria (JPMorgan): Sought clarification on tariff-related inventory moves. CEO McMonagle explained that forward inventory purchases were focused on mitigating expected chassis price increases and that supplier relationships are key to managing cost impacts. Tami Zakaria (JPMorgan): Asked about the timing of inventory reduction. Management replied that most reductions are expected in the second half of the year, following current elevated inventory levels. Brian Brophy (Stifel): Questioned rental rate trends and TES margin outlook. CFO Eperjesy indicated rental rates remain stable and that TES margins are expected to remain within the 15–18% range, with improvement projected as the year progresses. In the coming quarters, the StockStory team will monitor (1) whether Custom Truck One Source can maintain high utilization and order flow in ERS and TES, (2) signs of margin stabilization as inventory and product mix normalize, and (3) the company's progress in reducing inventory and net leverage as planned. The impact of evolving U.S. tariff and regulatory policies will also be a key area of focus. Custom Truck One Source currently trades at a forward P/E ratio of 63.8×. At this valuation, is it a buy or sell post earnings? Find out in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
1 Mooning Stock on Our Watchlist and 2 to Keep Off Your Radar
The stocks featured in this article are seeing some big returns. Over the past month, they've outpaced the market due to new product launches, positive news, or even a dedicated social media following. However, not all companies with momentum are long-term winners, and many investors have lost money by following short-term trends. On that note, here is one stock we think lives up to the hype and two best left ignored. One-Month Return: +21% Started as a game studio by three friends in a Copenhagen apartment, Unity (NYSE:U) is a software as a service platform that makes it easier to develop and monetize new games and other visual digital experiences. Why Does U Give Us Pause? Products, pricing, or go-to-market strategy need some adjustments as its billings have averaged 10.2% declines over the last year Competitive market dynamics make it difficult to retain customers, leading to a weak 95.8% net revenue retention rate Competitive market means the company must spend more on sales and marketing to stand out even if the return on investment is low Unity is trading at $21.97 per share, or 5x forward price-to-sales. If you're considering U for your portfolio, see our FREE research report to learn more. One-Month Return: +24.9% Inspired by a family gas station, Custom Truck One Source (NYSE:CTOS) is a distributor of trucks and heavy equipment. Why Do We Avoid CTOS? Sales trends were unexciting over the last two years as its 4.6% annual growth was below the typical industrials company Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 29.2 percentage points Depletion of cash reserves could lead to a fundraising event that triggers shareholder dilution Custom Truck One Source's stock price of $4.56 implies a valuation ratio of 62.1x forward P/E. To fully understand why you should be careful with CTOS, check out our full research report (it's free). One-Month Return: +35.7% Best known for its wide assortment of user-generated content, Roblox (NYSE:RBLX) is an online gaming platform and game creation system. Why Should RBLX Be on Your Watchlist? Daily Active Users are rising, meaning the company can increase revenue without incurring additional customer acquisition costs if it can cross-sell additional products and features Marketing spend is minimal, showing it doesn't need advertisements to acquire new users because of its well-known brand Highly efficient business model is illustrated by its impressive 20.5% EBITDA margin At $77.25 per share, Roblox trades at 45.6x forward EV/EBITDA. Is now a good time to buy? Find out in our full research report, it's free. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free.
Yahoo
06-05-2025
- Business
- Yahoo
3 Stocks Under $10 Walking a Fine Line
Stocks trading in the $1-10 range are generally smaller players with less risk than their penny stock counterparts. But that doesn't mean the underlying businesses are cheap, and we advise caution as many have questionable fundamentals. The bad behavior exhibited by lower-quality companies in this space can spook even the most seasoned professionals, which is why we started StockStory - to separate the good from the bad. Keeping that in mind, here are three stocks under $10 to avoid and some other investments you should consider instead. Share Price: $8.89 With a name that translates into 'The Crazy Chicken', El Pollo Loco (NASDAQ:LOCO) is a fast food chain known for its citrus-marinated, fire-grilled chicken recipe that hails from the coastal town of Sinaloa, Mexico. Why Should You Dump LOCO? Lagging same-store sales over the past two years suggest it might have to change its pricing and marketing strategy to stimulate demand Modest revenue base of $476 million gives it less fixed cost leverage and fewer distribution channels than larger companies Estimated sales growth of 3.5% for the next 12 months is soft and implies weaker demand El Pollo Loco is trading at $8.89 per share, or 4.1x forward EV-to-EBITDA. To fully understand why you should be careful with LOCO, check out our full research report (it's free). Share Price: $2.77 Known for its bottomless steak fries, Red Robin (NASDAQ:RRGB) is a chain of casual restaurants specializing in burgers and general American fare. Why Do We Avoid RRGB? Disappointing same-store sales over the past two years show customers aren't responding well to its menu offerings and dining experience Earnings per share decreased by more than its revenue over the last five years, showing each sale was less profitable High net-debt-to-EBITDA ratio of 14× increases the risk of forced asset sales or dilutive financing if operational performance weakens Red Robin's stock price of $2.77 implies a valuation ratio of 0.9x forward EV-to-EBITDA. Dive into our free research report to see why there are better opportunities than RRGB. Share Price: $4.20 Inspired by a family gas station, Custom Truck One Source (NYSE:CTOS) is a distributor of trucks and heavy equipment. Why Is CTOS Risky? Muted 4.6% annual revenue growth over the last two years shows its demand lagged behind its industrials peers Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 29.2 percentage points Short cash runway increases the probability of a capital raise that dilutes existing shareholders At $4.20 per share, Custom Truck One Source trades at 57.3x forward P/E. Check out our free in-depth research report to learn more about why CTOS doesn't pass our bar. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Axon (+711% five-year return). Find your next big winner with StockStory today for free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
