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Focus Malaysia
3 days ago
- Business
- Focus Malaysia
Bursa Malaysia closes lower in sync with regional markets
BURSA Malaysia closed lower in tandem with the weak performance across the region, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.69%, or 10.51 points lower, at 1,501.44 from Wednesday's close of 1,511.95. The benchmark index opened 0.99 of-a-point higher at 1,512.94, its highest for the day, and thereafter languished throughout the session to hit a low of 1,501.38 just before closing. Market breadth was subdued, with 660 decliners outnumbering 298 gainers. Another 460 counters were unchanged, 1,005 were untraded and 11 suspended. Turnover expanded to 2.81 billion units valued at RM1.69 bil compared with Wednesday's 2.42 billion units worth RM1.79 bil. – June 19, 2025
New Straits Times
3 days ago
- Business
- New Straits Times
Bursa Malaysia closes lower in sync with regional markets
KUALA LUMPUR: Bursa Malaysia closed lower in tandem with the weak performance across the region, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.69 per cent, or 10.51 points lower, at 1,501.44 from Wednesday's close of 1,511.95. The benchmark index opened 0.99 of-a-point higher at 1,512.94, its highest for the day, and thereafter languished throughout the session to hit a low of 1,501.38 just before closing. Market breadth was subdued, with 660 decliners outnumbering 298 gainers. Another 460 counters were unchanged, 1,005 were untraded and 11 suspended. Turnover expanded to 2.81 billion units valued at RM1.69 billion compared with Wednesday's 2.42 billion units worth RM1.79 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices closed lower as geopolitical tensions escalated following reports that the United States (US) was preparing for a potential military action against Iran. At the same time, the US Federal Reserve (Fed) warned that the ongoing trade war led by President Donald Trump may fuel inflation and hinder US economic expansion. Market participants closely monitored the Fed's latest meeting on Tuesday and Wednesday, as policymakers evaluated interest rates amid the president's tariff initiative. "On the domestic front, we maintain a vigilant stance in response to escalating global volatility and uncertainties," he told Bernama. On the other hand, Thong said the benchmark index is near its 1,500 psychological support level and should this level be broken, the next support level will be 1,485 points followed by 1,470 points. At current valuation, he said the FBM KLCI is trading at around 12 times calendar year 2025 price-to-earnings ratio, which is way below its long-term average of more than 16 times. "We advise investors to focus on blue-chips stocks with strong fundamentals that offer high dividends such as those in banking, telecommunications, and utilities sectors. "We anticipate the FBM KLCI to trend within the 1,500-1,510 range towards the weekend," said Thong. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower sans catalysts, causing market participants to remain edgy and uncertain. From January to May, he said fragile macroeconomic conditions and volatile markets were driven by fluctuating tariffs, Trump's tax bill, and Middle East tensions. Policy uncertainty, sticky inflation, and questions about the Fed's independence further fuelled concerns. For Bursa Malaysia, while foreign participation has been trending downward, it has not yet reached the the lows seen in mid-April, he added. Among the heavyweights, Maybank shed 2.0 sen to RM9.60, Tenaga and IHH Healthcare remained unchanged at RM14.22 and RM6.85 respectively, Public Bank slipped 5.0 sen to RM4.19, and CIMB declined 7.0 sen to RM6.58. For the most active stocks, PUC shed 1.0 sen to 2.0 sen, Tanco declined 2.5 sen to 95.5 sen, MYEG eased 2.5 sen to 90.5 sen, SNS Network Technology perked up 1.0 sen to 54.5 sen, and Borneo Oil was flat at 1.0 sen.
New Straits Times
4 days ago
- Business
- New Straits Times
Bursa Malaysia ends mixed in choppy trading
KUALA LUMPUR: Bursa Malaysia ended a choppy but directionless trading session, with the index moving in a narrow range, amid global uncertainties, as investors refrained from taking long positions. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) reversed earlier losses to settle 0.31 of-a-point, or 0.02 per cent, higher at 1,511.95 from Tuesday's close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89 and fluctuated between 1,509.42 and 1,512.96 throughout the trading session. The broader market was however negative, with 488 decliners outnumbering 361 gainers. A total of 503 counters were unchanged, 1,054 untraded and 13 suspended. Turnover declined to 2.42 billion units valued at RM1.79 billion compared with Tuesday's 3.03 billion units worth RM1.92 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices finished broadly lower as geopolitical tensions escalated over potential involvement of the US in the Israel-Iran conflict. Risk appetite declined amid reports that US President Donald Trump had met with senior advisers to review military options, including possible strikes on Iran. "Locally, we maintain our cautious stance due to the escalation geopolitical tensions in the Middle East. "We are hopeful that Israel and Iran will engage in peace talks to ease tensions and restore confidence among local investors," he told Bernama. Thong noted that buying opportunities may emerge in oil and gas and plantation stocks. "For the moment, we maintain our weekly FBM KLCI target at the 1,500-1,530 range," he said. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said on the local front, attention turned to the progress of the US-Malaysia trade negotiations. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz and his delegation's arrival in Washington to engage with US Trade Representative Jamieson Greer and senior officials marks a pivotal moment in addressing tariff-related uncertainties that have clouded investor outlook in recent weeks. "Despite the cautious backdrop, selected domestically oriented sectors saw notable interest. Consumer discretionary and telecommunications stocks led gainers, underscoring investor confidence in Malaysia's underlying economic resilience," said Mohd Sedek. Adding to the constructive narrative, Malaysia's sharp rise in the latest International Institute for Management Development (IMD) World Competitiveness Ranking (WCR) 2025 -- advancing 11 spots to 23rd globally -- reinforces the country's reform momentum and macroeconomic credibility. "This supports our positive medium-term outlook, particularly for the construction sector, where structural themes such as hyperscale data centre investments and the Johor-Singapore Special Economic Zone are expected to serve as key catalysts for growth," he added. Among heavyweights, Maybank gained 7.0 sen to RM9.62, Tenaga dipped 8.0 sen to RM14.22, Public Bank added 2.0 sen to RM4.24, CIMB slid 1.0 sen to RM6.65, and IHH Healthcare eased 4.0 sen to RM6.85. As for the most active stocks, Tanco Holdings inched up half-a-sen to 98 sen, SNS Network Technology gained 4.0 sen to 53.5 sen, Magma Group rose 3.0 sen to 46 sen, NexG shed 1.5 sen to 34.5 sen, and Alam Maritim Resources slid half-a-sen to 3.0 sen.
Focus Malaysia
4 days ago
- Business
- Focus Malaysia
Bursa Malaysia ends mixed in choppy trading
Bursa Malaysia ended a choppy but directionless trading session, with the index moving in a narrow range, amid global uncertainties, as investors refrained from taking long positions. At 5 pm, the FBM KLCI reversed earlier loss to settle 0.31 of-a-point, or 0.02 per cent, higher to 1,511.95 from Tuesday's close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89 and fluctuated between 1,509.42 and 1,512.96 throughout the trading session. The broader market was however negative, with 488 decliners outnumbering 361 gainers. A total of 503 counters were unchanged, 1,054 were untraded and 13 suspended. Turnover declined to 2.42 bil units valued at RM1.79 bil compared with Tuesday's 3.03 bil units worth RM1.92 bil. —June 18, 2025
The Star
05-06-2025
- Business
- The Star
IOIProp cements regional real estate push
PETALING JAYA: IOI Properties Group Bhd 's (IOIProp) latest move to take full control of Singapore's landmark South Beach development signals a bold step towards consolidating its regional real estate ambitions. Analysts see this as a strategic pivot that could both unlock value and test the developer's capital discipline. Hong Leong Investment Bank Research (HLIB Research) described the acquisition as 'a strategic and value-accretive move'. The research house said the transition from a 49.9% joint-venture stake to full ownership unlocks several key advantages – including full strategic control, operational synergies, and immediate earnings uplift. 'The South Beach assets are already income-generating, providing an immediate boost to IOIProp's earnings base and recurring income stream,' HLIB Research highlighted. 'Post-acquisition, IOIProp cements its status as one of the largest asset owners not only in Singapore, but also (as) a growing regional real estate powerhouse,' it added. HLIB Research maintained its 'buy' call on the stock with an unchanged target price (TP) of RM4.05 per share. It estimated an earnings per share uplift of 1.63 sen for IOIProp in 2026, while net gearing is expected to rise to 0.93 times from 0.7 times as of June 30, 2024. 'Despite concerns over higher gearing, the risks appear manageable given its stable recurring income, strong assets and upcoming real estate investment trust (REIT) listing plan,' HLIB Research said. TA Research took a more cautious view, noting: 'We are somewhat surprised by this acquisition, as we had earlier anticipated that the group would prioritise managing its already elevated net gearing levels.' It estimated that, if fully debt-funded, IOIProp's net gearing would climb to 0.87 times. 'IOIProp may be positioning itself for the establishment of a REIT, given its maturing investment property portfolio,' TA Research said, highlighting that it carried a total book value of RM21.3bil as of the financial year ended June 30, 2024. 'Such a move would help cushion the impact of the South Beach acquisition on IOIProp's gearing profile,' it added. TA Research reiterated its 'buy' call, with an unchanged TP of RM2.78, citing IOIProp's historical willingness to raise equity capital to fund strategic investments. Meanwhile, MIDF Research adopted a neutral stance, highlighting that IOIProp's net gearing would increase to 0.87 times post-acquisition. It acknowledged that 'the acquisition will allow IOIProp to have full control and management of the South Beach property, which is generating investment income.' MIDF Research revised its TP for the stock to RM1.79 from RM1.84, after widening the revalued net asset value discount to 65% from 64% in view of the company's higher net gearing. It kept its 'neutral' rating on the developer, citing limited near-term catalysts. IOIProp had announced that its unit, IOI Consolidated (Singapore) Pte Ltd, had signed a conditional share sale agreement to acquire the remaining 50.1% stake in Scottsdale Properties Pte Ltd, owner of South Beach, for about S$834.22mil.
