Latest news with #RM3.73
The Star
15 hours ago
- Business
- The Star
FBM KLCI ends higher as caution caps momentum
KUALA LUMPUR: The FBM KLCI ended marginally higher on Friday, lifted by selective buying in blue chips, although overall market sentiment remained cautious amid global economic concerns and geopolitical tensions in the Middle East. The FBM KLCI rose 1.30 points, or 0.09%, to 1,502.74 after hitting an intraday high of 1,507.97 and a low of 1,500.04. Despite the gains, the FBM KLCI posted a full-week decline of 1.01%. Market activity was encouraging, with 2.6 billion shares worth RM3.4bil changing hands. Market breadth, however, was negative, with 319 gainers versus 518 losers, while 505 counters remained unchanged. Dealers said investors remained cautious amid prevailing market uncertainty, with concerns over global economic conditions and ongoing geopolitical tensions in the Middle East continuing to weigh on sentiment. Among the gainers, Nestle rose 96 sen to RM72.52, Carlsberg added 92 sen to RM19.66, Malaysian Pacific Industries gained 90 sen to RM20.50 and Hong Leong Financial Group increased 58 sen to RM16.58. PETRONAS Gas slid 54 sen to RM17.48, BAT fell 19 sen to RM4.37, Kluang Rubber lost 16 sen to RM5.75 and Petron Malaysia Refining & Marketing gave up 16 sen to RM3.73. According to data from Bursa Malaysia, foreign investors continued to sell local stocks on Thursday, offloading RM110mil worth of equities. Meanwhile, local institutions purchased RM115mil worth of equities, while retailers sold RM4mil. On the forex market, the ringgit was up 0.03% against the greenback to 4.2595. The local currency declined by 0.3% against the euro, trading at 49,042. It also fell 0.4% against the pound sterling, reaching 5.7408, and dropped 0.18% against the Singapore dollar, closing at 3.3148. Among the key regional markets: Japan's Nikkei 225 closed down 0.22% to 38,403.23; South Korea's Kospi added 1.48% to 3,021.84; Hong Kong's Hang Seng Index rose 0.93% to 23,453.00; China's CSI 300 Index climbed 0.09% to 3,846.64; Taiwan's Taiex added 0.19% to 22,045.74 and; Singapore's Straits Times Index gained 0.02% to 3,894.80 points.
New Straits Times
22-05-2025
- Business
- New Straits Times
MSM posts 91pct drop in Q1, flags industry headwinds
KUALA LUMPUR: MSM Malaysia Holdings Bhd's net profit dropped 91 per cent to RM3.73 million in the first quarter ended March 31, 2025 (1QFY25) from RM41.71 million a year earlier. The sharp decline was due to lower margins and reduced capacity utilisation, despite a decrease in production costs. Revenue for the quarter also fell 17.3 per cent to RM749.68 million from RM906.6 million previously due to lower sales volume and average selling prices. MSM reported a lower capacity utilisation factor of 47 per cent in the period, compared to 52 per cent last year due to plant shutdown in both refineries but it was mitigated by consistency in efficiency yield. MSM group chief executive officer Syed Feizal Syed Mohammad said the sugar industry is expected to face continued headwinds in 2025, driven by persistently high input costs and volatility in raw sugar prices amid fluctuating global production. He noted that the dumping practices of imported sugar into the country without control have also impacted sales volume and prices. However, he said the matter has been raised by the joint local sugar industry with the government authorities for needed anti-dumping actions. "The joint local sugar industry expects the matter to be resolved in ensuring price stability and food security sustainability. "Meanwhile at the global front, we remain vigilant of escalating geopolitical tensions and the ongoing trade war, both of which pose risks to global supply chains, trade flows and currency stability," Syed Feizal said. He pointed out that the company aims to expand market presence, particularly in China and the Asean region, including Vietnam, Indonesia, Singapore and the Philippines. "Our goal is to increase total export volumes to 360,000 tonnes in 2025, with an emphasis on value added products like liquid sugar and premixes from MSM Johor.
New Straits Times
22-05-2025
- Business
- New Straits Times
MSM shares hit limit down, short selling suspended
KUALA LUMPUR: MSM Malaysia Holdings Bhd saw its share price plunge to an intraday low of RM1.17 on Thursday, marking a 15.8 per cent drop from its reference price of RM1.39. The sharp decline triggered an intraday short selling (IDSS) suspension by Bursa Malaysia for the remainder of the trading day. Trading under IDSS will resume at 8.30am on Friday. As at 4.35pm, the counter had recovered slightly to RM1.19, still down 14.4 per cent, with 9.55 million shares traded. The steep drop coincided with MSM's release of its first-quarter financial results. For the quarter ended March 31, 2025, the group posted a 91 per cent year-on-year decline in net profit to RM3.73 million, compared with RM41.71 million in the same period last year. Revenue dropped 17.3 per cent to RM749.68 million from RM906.61 million previously. MSM attributed the weaker performance to lower profit margins and reduced capacity utilisation, despite lower production costs.
