Latest news with #post-Ramadan
New Straits Times
10-06-2025
- Business
- New Straits Times
Reit sector set for strong second half
KUALA LUMPUR: Malaysia's real estate investment trust (Reit) sector is set for a resilient second half of 2025 (2H25), driven by asset recycling, enhancement works and a recovery in hospitality. Maybank Investment Bank Bhd (Maybank IB) said key catalysts include Sunway Reit's RM613 million divestment of a tertiary property and Axis Reit's RM24 million sale of The Annex — a warehouse with office space. It also pointed to Pavilion Reit's RM480 million hospitality acquisition and Axis Reit's purchase of six new properties. The firm said asset enhancement by Sunway Reit and IGB Reit will support income growth, while KLCCP and Sunway Reit are expected to benefit from a post-Ramadan boost in hospitality. "We also see strategic catalysts among them Reits, including CapitaLand Malaysia Trust (CLMT)'s industrial diversification into logistics to make up 7.9 per cent of assets under management by financial year 2026 (FY26) and Sentral Reit's ongoing pivot away from pureplay office exposure. "Al-Salam is progressing on its "DISRUPT27" repositioning strategy, with asset recycling and Komtar JBCC's on-going reconfiguration expected to support medium-term yield and valuation recovery. "Pavilion Reit and CLMT's planned placements and new assets also offer medium-term upside to earnings and distribution per unit growth," the firm said. With Bank Negara Malaysia expected to consider an Overnight Policy Rate (OPR) cut in 2H25, Maybank IB said the trusts with higher floating-rate debt, currently around 47 per cent of sector average, stand to benefit from reduced financing costs. The firm said this supports valuation upside and lowers financing costs for growth-oriented Reits. "Nonetheless, most Reits continue to guide for stable dividends, and with gearing levels largely within comfortable thresholds. There remains room for selective growth via yield-accretive acquisitions," it added. Maybank IB said the Reits' management maintained a cautiously optimistic outlook, flagging several macro uncertainties. These include potential implementation of an 8.0 per cent service tax on rental, which would add costs for tenants while limiting Reits' ability to raise rents, as well as potential increase to electricity tariffs and broader economic uncertainties, such as fuel subsidies and tariff wars. The firm maintained its "positive" stance on the the sector, underpinned by resilient fundamentals, attractive yields and visible catalysts for income growth in 2H25. It noted that as the Reits appear to head towards further asset diversification, quality of assets in its portfolio would be crucial. Sunway Reit remains Maybank IB's top pick with a target price of RM2.13. Other "Buy" calls include Pavilion Reit and Axis Reit, with target prices of RM1.83 and RM2.01, respectively, backed by income resilience and asset defensiveness High-yield plays include YTL Hospitality Reit at RM1.18, Sentral Reit at 88 sen and Capitaland Malaysia Trust at 76 sen.
New Straits Times
07-06-2025
- Business
- New Straits Times
Tobacco ban to hit sales, footfall at convenience stores, mini-marts
KUALA LUMPUR: Convenience store chains and mini-marts across Malaysia are bracing for a significant hit from the impending ban on the open display of tobacco products, a regulatory move that could shake up revenue models heavily reliant on tobacco sales. The Ministry of Health announced the tobacco display ban in October 2024, initially set for April 1, 2025, but now phased with full enforcement by Oct 1, 2025. Retailers must store tobacco and vape products in closed cabinets, not openly. Analysts caution that major players like 7-Eleven Malaysia Holdings Bhd (SEM), which generates about 33 per cent of its total revenue from tobacco products, are particularly vulnerable. Other chains like KK Super Mart and MyNews are also expected to be affected, though to varying degrees depending on their reliance on tobacco sales. In contrast, 99 Speedmart may be less impacted given its stronger emphasis on household essentials and grocery items. "Tobacco purchases frequently trigger impulse buys of snacks, beverages, and other essentials. With the display ban, these secondary sales could decline, potentially reducing both store traffic and basket size," said an analyst who requested anonymity. He added that convenience retailers will need to revamp their shelving layouts and possibly retrain staff, incurring compliance costs that could weigh heavily on smaller chains with fewer resources. CIMB Securities Sdn Bhd said that despite a temporary reprieve, it warns that companies like SEM are not out of the woods. "Although the delay offers SEM some near-term reprieve, the eventual enforcement of the ban may weigh on its top-line performance," CIMB cautioned in a research note, citing an expected decline in tobacco-related sales. CIMB said that SEM continues to face mounting regulatory and cost challenges, despite reporting steady revenue growth for the first quarter of 2025 (Q1 2025). SEM reported a 10.4 per cent year-on-year (YoY) increase in revenue for Q1 2025, largely driven by 7.1 per cent same-store sales growth. The growth was attributed to a low base effect from Q1 2024, longer operating hours, and an accelerated rollout of the modern 7-Café format. However, rising costs are eroding gains. The Feb 1, 2025, nationwide minimum wage hike to RM1,700 and longer business hours pushed SEM's operating expenses up by 10.2 per cent YoY. As a result, EBITDA margin remained flat at 11.8 per cent, while core net profit edged up just 0.5 per cent YoY. Looking ahead, CIMB expects QoQ earnings improvement in Q2 2025, helped by post-Ramadan consumer spending and continued expansion of 7-Café outlets. Margins are forecast to stay steady, supported by higher-margin fresh food sales and improved operating leverage. "We understand that SEM remains committed to its store opening target (of 100 new outlets this year) and will be accelerating its store rollout in subsequent quarters to meet its target by end-Dec 2025," it said. Despite the positive growth trajectory, CIMB maintains a 'Reduce' rating on the stock, with a target price of RM1.63, citing long-term challenges such as intensifying competition in the convenience retail space and mounting cost pressures. SEM's share price has remained largely unchanged in 2025, fluctuating between RM1.96 and RM2.00, with a brief dip to RM1.90 in late January. Notable shareholders include Classic Union Group Ltd (26.3 per cent), Berjaya Group founder Tan Sri Vincent Tan Chee Yioun (22.4 per cent), and PERKESO (4.6 per cent), with public investors holding 14 per cent.
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
Urban inflation rises to 13.9% in April despite fuel price hikes
Urban headline inflation in Egypt edged up to 13.9% in April 2025, compared to 13.6% in March, according to the Central Bank of Egypt (CBE). The slight increase came in the wake of fuel price hikes introduced by the Fuel Automatic Pricing Committee on April 11, which raised prices of gasoline, diesel, and LPG cylinders. Despite this, overall inflationary pressures remained relatively contained, supported by falling food prices. Core inflation, which excludes volatile items such as food and energy, accelerated to 10.4% in April, up from 9.4% in March. This increase was driven by a rise in monthly core inflation, which registered 1.2%, compared to 0.9% in March and 0.3% in April 2024. The uptick reflects the pass-through effect of higher fuel prices on services like private inland transportation and spending on restaurants and cafes. Rising costs in retail items, particularly clothing and pharmaceutical products, also contributed to the increase. However, these pressures were partially offset by a decline in core food inflation, which fell by 0.8% due to a notable drop in poultry prices. Monthly urban headline inflation came in at 1.3% in April, down from 1.6% in March, but slightly higher than the 1.1% recorded in April last year. The slowdown was largely attributed to an unexpected 12.9% decline in fresh fruit prices, which typically rise during this period. This seasonal anomaly, along with relatively stable prices in non-food items and core food products, helped moderate the overall monthly inflation rate. In rural areas, annual headline inflation rose to 13.1% in April, up from 12.5% in March. On a national level, annual headline inflation reached 13.5%, compared with 13.1% a month earlier. Food price movements had a mixed impact. Poultry prices dropped by 6.5% in April, marking the first decline in three months and reflecting a typical post-Ramadan seasonal adjustment. Egg prices also decreased, falling by 3%. Together, these items reduced monthly headline inflation by 0.44%. In contrast, fish and seafood prices rose by 2.7%, driven by seasonal demand during the Eid al-Fitr and Easter holidays, contributing 0.08% to overall inflation. While fresh vegetables saw a modest 1.4% increase, the sharp drop in fresh fruit prices outweighed this, and the combined effect of both categories subtracted 0.36% from monthly headline inflation. Non-food categories exerted stronger upward pressure. Prices of regulated items rose by 4% in April, contributing 0.84% to headline inflation. This was largely due to the 14% increase in fuel prices, which led to indirect inflationary effects on public transportation. Service prices increased by 2.3%, adding 0.61%, with much of the rise attributed to higher restaurant costs and private transportation fares. Retail items also saw significant price hikes, rising by 3.6% and contributing 0.50% to inflation. Pharmaceutical products in particular saw a 12% increase, while clothing prices also trended upward. Monthly core inflation was shaped by these developments. Services and retail items contributed 0.84 and 0.69%, respectively, to the monthly core reading. However, the decline in core food prices provided a counterbalance, subtracting 0.35% from the overall figure.
Yahoo
31-03-2025
- Politics
- Yahoo
Turkish opposition urges release of imprisoned protesters
The party of the ousted Istanbul mayor Ekrem İmamoğlu has demanded the release of hundreds of imprisoned protesters. "Chanting slogans, marching, or protesting is not a crime, but a right enshrined in the constitution," Republican People's Party (CHP) party spokesman Deniz Yücel said after a visit to a prison near İzmir. He said the arrest and detention of the largely student protesters was unlawful. Yücel also criticised what he described as "disproportionate use of force" by security forces during the protests. The arrest and subsequent imprisonment of the now-ousted Istanbul mayor İmamoğlu have triggered the largest anti-government protests in Turkey in years. Following his arrest, İmamoğlu, who was selected as the presidential candidate of the CHP, the largest opposition party in Turkey, is considered the main domestic political rival of Turkish President Recep Tayyip Erdoğan. According to the Interior Ministry, nearly 2,000 people were detained during the protests, with 263 arrested. The opposition claims that 301 people are in pre-trial detention. An initial indictment is seeking up to three years in prison for some of them. The CHP has accused the police of "torturing" those detained and has reported instances of sexual abuse. The Turkish government has not yet addressed any misconduct. The government-appointed provincial governor of Istanbul, Davut Gül, thanked the police on Sunday, stating that they had "properly" fulfilled their duties in connection with the protests. During the current post-Ramadan holidays in Turkey, the street protests have temporarily subsided. The CHP has called for a rally in Istanbul on Wednesday evening. On the same day, people plan to express their protest through a consumer boycott. Simultaneously, the party is running a petition campaign demanding the release of İmamoğlu and early elections.
Broadcast Pro
28-03-2025
- Entertainment
- Broadcast Pro
Yango Play unveils teaser for new crime thriller series ‘Prestige'
Directed by Amr Salama and written by Ingy Abou El-Soud, the series is produced by The Planet Studios. Yango Play, the all-in-one super entertainment platform, has dropped the teaser for its latest original series, Prestige, set to premiere in April. Designed as the post-Ramadan binge, the series blends crime and suspense in a dramatic framework, further expanding Yango's lineup of original productions. Directed by Amr Salama and written by Ingy Abou El-Soud, Prestige is produced by The Planet Studios, the powerhouse behind hit productions like Safah El Giza (The Giza Killer) and Bimbo. The series boasts a star-studded cast, including Mohamed Abdel Rahman, Mostafa Gharib, Randa Ebeid, Dina, Sami Maghawry, Bassam Ragab, Alaa Sanan, Amina El Banna, Moaz Nabil and Omar El Sherif. Additionally, rapper Ziad Zaza and content creator Abdulaaty make notable appearances. The teaser sets a suspenseful tone, transporting viewers to an old café in the heart of Cairo, where a group of people becomes stranded due to an unexpected storm. However, the real tension begins when a sudden power outage exposes a shocking murder, transforming the situation into an intense whodunit filled with mystery and intrigue. Spanning eight episodes, Prestige offers an experience for thriller enthusiasts, seamlessly intertwining suspense and crime with sharp comedic moments to keep audiences engaged until the very end. Available across the Middle East and Egypt, Yango Play can be accessed on all devices. For a limited time, the platform is offering a free one-month trial, giving users the chance to explore a diverse library of exclusive and premium content tailored to various tastes.
