Latest news with #SDGuthrie
The Star
2 days ago
- Business
- The Star
SD Guthrie, SDP team up to turn Carey Island into industrial & logistics hub
PETALING JAYA: SD Guthrie Bhd had inked a joint venture agreement with Sime Darby Property Bhd (SDP) to develop up to 2,000-acres of land in Carey Island, Selangor into an industrial and logistics hub. SD Guthrie, which owns 79% of the island, or 28,646 acres, said the project will be formalised through a special purpose vehicle, with Permodalan Nasional Bhd to nominate the chairman. Both, SD Guthrie and SDP are strategic investee companies of the fund management company. The group said the development aims to transform Carey Island into a leading industrial and logistics hub that will coexist with the integrated palm oil business on the island as well as complement the existing operations at Westport and Northport in Port Klang. The site's proximity to the South Klang Valley Expressway (SKVE) and North-South Expressway is expected to enhance its appeal as a logistics hub. 'The port will thus be well-positioned to compete with regional ports in Singapore, Thailand, and Vietnam, giving a boost to Malaysia's aspirations to become a logistics powerhouse in the region. 'Combined with the thriving plantation business, the new development on Carey Island will stimulate economic growth, generate employment opportunities and uplift the local economy, while preserving the valuable heritage elements of the site,' it said in a statement. SD Guthrie stated that the site also offers scalability for large-scale facilities and aligns with national development plans under the Ekonomi Madani Framework. Further announcements will be made as material developments occur. 'We laud and greatly support this joint venture between SD Guthrie and SDP, which aligns with national aspirations and GEAR-uP initiatives by the Government in catalysing domestic investments. This collaboration between PNB's two strategic companies will provide a boost towards the sustainable development of this high potential area as well as help bolster further Malaysia's economic and industrialisation growth,' PNB president & group chief executive Datuk Abdul Rahman Ahmad said. SD Guthrie operates two estates and palm oil mills on the island, all of which are certified to the highest sustainability standards in the world. Also on the island are a kernel crushing plant, a biodiesel plant, research and development facilities, a robotics and innovation centre, and a nursery. Palm oil produced on Carey Island is processed in two large refineries located nearby in Langat and Port Klang, which serve customers from around the world. There are also 14 historical buildings on Carey Island that are listed as heritage sites by Jabatan Warisan Negara, as well as a large bio-diversity park and sensitive mangrove ecosystems that are maintained by SD Guthrie. Combined with the thriving plantation business, the new development on Carey Island will stimulate economic growth, generate employment opportunities and uplift the local economy, while preserving the valuable heritage elements of the site. SD Guthrie's group managing director Datuk Mohamad Helmy Othman Basha said the group support the Government's aspirations to accelerate the growth of international trade and cater to the demand for innovative industrial facilities. 'Carey Island has been identified by the Government as the new site for a world-class port due to its suitable and strategic location near Port Klang, and proximity to Pulau Indah. Additionally, the island is conveniently connected to the city via the SKVE which integrates with the North-South Expressway, ensuring accessibility. The highways and connectivity offer tremendous potential for the area to grow into an industrial and logistics hub, while enabling the thriving plantation business in the area to continue,' Mohamad Helmy said. Meanwhile, Sime Darby Property group managing director & chief executive officer Datuk Seri Azmir Merican said: 'We are excited to partner with SD Guthrie on this timely opportunity to unlock value in Carey Island as a dynamic port and advance the nation's aspirations of becoming a regional logistics and economic hub. The collaboration allows us to begin master planning and designing a future-ready industrial ecosystem that will serve the needs of businesses and communities for years to come, in line with our Purpose to be a Value Multiplier for people, businesses, economies and the planet.'
The Sun
5 days ago
- Business
- The Sun
Selling pressure continues to weigh on Bursa Malaysia at mid-afternoon
KUALA LUMPUR: Bursa Malaysia continued to trade lower at mid-afternoon due to persistent selling in plantation and energy stocks, said analysts. At 3.07 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 5.49 points, to 1,514.50 from Monday's close of 1,519.99. The benchmark index opened 1.17 points lower at 1,518.82. Market breadth was negative, with 499 decliners leading 313 gainers, while 452 counters were unchanged, 1,152 untraded and 22 suspended. Turnover stood at 2.41 billion shares worth RM1.15 billion. Maybank Investment Bank Bhd in a note said on a technical perspective, it expects the benchmark index to range between 1,510 and 1,530 points today, with supports remaining at 1,500 and 1,440 points. Among the heavyweights, SD Guthrie fell 10 sen to RM4.60, IOI Corp shaved 6.0 sen to RM3.66, Petronas Chemicals slid 5.0 sen to RM3.35, Axiata dropped 3.0 sen to RM2.12, and Hong Leong Financial Group slipped 22 sen to RM15.82. As for the most active stocks, Borneo Oil and Velesto Energy dipped half-a-sen each to half-a-sen and 18.5 sen respectively, Top Glove decreased 4.0 sen to 71.5 sen, Tanco added 2.0 sen to 97.5 sen, and MYEG rose half-a-sen to 93.5 sen. On the index board, the FBM Emas Index slid 40.02 points to 11,320.77 and the FBMT 100 Index slipped 37.18 points to 11,101.17. The FBM Emas Shariah Index shed 32.94 points to 11,340.72, the FBM ACE Index shrank 33.63 points to 4,438.18, and the FBM 70 Index decreased 42.22 points to 16,241.23. Sector-wise, the Plantation Index tumbled 80.47 points to 7,269.80 and the Energy Index sank 15.61 points to 736.55. The Financial Services Index gave up 98.93 points to 17,402.07, and the Industrial Products and Services Index decreased by 0.69 of-a-point to 150.44.
New Straits Times
5 days ago
- Business
- New Straits Times
Bursa Malaysia remains lower at midday as profit-taking continues
KUALA LUMPUR: Bursa Malaysia remained easier at midday today due to continuing profit-taking, especially on plantation and energy stocks, said analysts. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shed 5.88 points, or 0.38 per cent, to 1,514.83 from Monday's close of 1,519.99. The benchmark index opened 1.17 points lower at 1,518.82 and subsequently moved between 1,510.92 and 1,520.89 throughout the morning session. Market breadth was negative, with 462 decliners overtaking 284 gainers, while 455 counters were unchanged, 1,215 untraded and 22 suspended. Turnover stood at 2.01 billion shares worth RM947.77 million. Hong Leong Investment Bank Bhd (HLIB) said in a note that domestically, sentiment is expected to remain cautious, weighed down by uncertainty over a pending US-Malaysia tariff agreement, June's typically weak market performance, and potential policy drags from second half 2025's (2H25) fuel subsidy rationalisation and the Sales and Service Tax (SST) expansion on July 1 -- both of which could dampen consumer spending and cloud corporate earnings visibility. Nevertheless, it said downside risks may be cushioned by strengthening ringgit versus the US dollar, which appreciated 5.3 per cent year-to-date, potentially aiding foreign inflows and reducing import costs. "Besides, policy-driven catalysts, namely the National Energy Transition Roadmap (NETR), the Johor-Singapore Special Economic Zone (JS-SEZ), and the New Industrial Master Plan 2030 (NIMP 2030), can also support the local bourse. "Key weekly supports are established between the 1,476-1,500, while resistances are located at 1,524-1,556 range," HLIB. Among the heavyweights, SD Guthrie fell 9.0 sen to RM4.61, Petronas Chemicals Group and IOI Corp shaved 5.0 sen each to RM3.35 and RM3.67, respectively, while Hong Leong Financial Group fell 18 sen to RM15.86, and Telekom slid 7.0 sen to RM6.59. As for the most active stocks, Top Glove slipped 3.5 sen to 72 sen, MYEG and Tanco Holdings added 1.0 sen each to 94 sen and 96.5 sen, Velesto Energy eased half-a-sen to 18.5 sen, and Jiankun International was flat at 3.0 sen. On the index board, the FBM Emas Index slipped 37.89 points to 11,322.90, and the FBMT 100 Index decreased 36.35 points to 11,102.00. The FBM Emas Shariah Index eased 31.41 points to 11,342.25, and the FBM ACE Index weakened 23.48 points to 4,448.33, while the FBM 70 Index declined 26.57 points to 16,256.89. Sector-wise, the Plantation Index trimmed 68.34 points to 7,281.93, and the Energy Index sank 14.40 points to 737.76. The Financial Services Index dropped 86.85 points to 17,414.15, and the Industrial Products and Services Index decreased by 0.62 of-a-point to 150.51.
The Star
10-06-2025
- Business
- The Star
Structural challenges likely for plantation sector
PETALING JAYA: The plantation sector lacks catalysts moving forward with the average crude palm oil (CPO) price forecasts pegged at RM4,100 per tonne for 2025 and RM4,000 per tonne for 2026, respectively. Phillip Capital Research, which initiated a 'neutral' rating on the sector, said the overall aggregate sector earnings is forecast to grow by 9.2% year-on-year (y-o-y) in 2025, before facing a 3.4% y-o-y earnings contraction in 2026 due to weaker palm product prices in the second half of 2025 (2H25) and persistent structural challenges. The research house said its preferred large-cap pick is SD Guthrie Bhd with a target price of RM5.21, supported by resilient upstream contributions, strategic diversification into non-food downstream segments and embedded value from potential asset monetisation. Furthermore, SD Guthrie's integrated structure and estate rejuvenation efforts positioned it well to weather CPO price swings while unlocking hidden land bank value over time. Among small-cap names, Phillip Capital Research said it favoured Sarawak Plantations Bhd with a target price of RM2.88, underpinned by its young estate profile, ongoing replanting programme and steadily improving internal crops production. The plantation group also boasts a healthy balance sheet and offers an attractive 4% dividend yield, supported by healthy free cash flows. Sarawak Plantations' compelling enterprise value (EV) per ha valuation of less than RM20,000 per ha presented notable upside potential versus its peers, the reseach house added. While macro headwinds such as softer CPO prices and global trade uncertainties persisted, Phillip Capital Research highlighted that valuations for selected planters are beginning to look attractive, particularly if prices stabilise and earnings recovery takes shape in 2H25. The potential rerating catalysts for the sector include tighter global edible oil supply, supportive biodiesel mandates and renewed foreign interest in undervalued mid to large-cap names. 'In our view, the plantation sector's risk-reward is now more balanced. 'We recommend selectively accumulating upstream-focused names with younger estates, improving fresh fruit bunch yields, and efficient cost structures to capitalise on any palm oil price recovery,' it noted. For investors seeking more stability, diversified integrated players with defensive earnings and consistent payouts warranted consideration. Overall, the research house viewed its valuations on the sector as fair, but structural headwinds would cap upside.
The Star
20-05-2025
- Business
- The Star
EcoWorld, SD Guthrie officially begin development of industrial park
PETALING JAYA: Eco World Development Group Bhd (EcoWorld), SD Guthrie Bhd (previously Sime Darby Plantation Bhd ), and NS Corporation Sdn Bhd (NS Corp) have formalised a shareholders agreement yesterday to launch the development of Eco Business Park 7 (EBP 7) in Negeri Sembilan. This follows a Memorandum of Understanding signed on December 18, 2024, and a sales and purchase agreement (SPA) finalised on April 18, this year. The agreement establishes Eco Business Park 7 Sdn Bhd as the entity overseeing the project, with EcoWorld holding a 55% stake, SD Guthrie Land Ventures Sdn Bhd (a fully owned subsidiary of SD Guthrie) owning 30%, and NS Corp holding the remaining 15%. Eco World Project Management Sdn Bhd, another EcoWorld subsidiary, will manage the development. The development of EBP 7 involves acquiring 1,195 acres of freehold land in Mukim Jimah, Port Dickson, within Parcel C of Malaysia Vision Valley 2.0 (MVV 2.0), a key economic corridor in western Peninsular Malaysia. In a filing to Bursa Malaysia yesterday, SD Guthrie reiterated that the project aims to create an integrated industrial park with commercial hubs, boasting an estimated gross development value (GDV) of RM2.95bil, featuring industrial lots, pre-built factories, and commercial spaces targeting sectors like aerospace, electrical and electronics, logistics, and biotechnology. 'The industrial hub will offer access to a proposed Nilai-Labu Expressway that will enhance connectivity to major hubs such as Kuala Lumpur International Airport, Port Klang, Nilai, and the west coast via the PLUS Highway, offering connectivity and logistical advantages that are conducive for business growth,' the filing read. MVV 2.0, launched in December 2018, spans 380,000 acres across Seremban and Port Dickson, divided into six parcels (A-F), and aims to support Greater Kuala Lumpur's growth. EBP 7 aligns with this vision by promoting sustainable development, attracting local and foreign investments, creating high-value jobs, and boosting Negeri Sembilan's economy. SD Guthrie said the project, expected to unfold over nine years, supports national initiatives like the New Industrial Master Plan (NIMP) 2030 and the National Energy Transition Roadmap (NETR). The partnership leverages SD Guthrie's extensive land assets, EcoWorld's expertise in industrial park development, and NS Corp's role as MVV 2.0's state-appointed coordinator. The project highlights the diversification of SD Guthrie - a major Malaysian landowner with 16 estates, three palm oil mills, and two biogas plants in Negeri Sembilan - into industrial parks and renewable energy. Meanwhile, EcoWorld, with a 9,825-acre landbank and a RM90bil GDV portfolio, has a strong track record in industrial projects, with 2,415 acres dedicated to such parks and 90% of its developments green-accredited. The tripartite agreement was signed on April 18 by SD Guthrie group managing director Datuk Mohamad Helmy Othman Basha, EcoWorld president and chief executive (CEO) Datuk Chang Khim Wah, and NS Corp CEO Norazhar Musa, witnessed by notable figures including Negeri Sembilan Chief Minister Datuk Seri Aminuddin Harun, who also chairs NS Corp.
