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S P Setia's commercial offerings in Semenyih see strong demand and full take-ups.

Baris Place 2 at Setia Mayuri comprises 16 units of 2-storey shop lots with built-ups ranging from 3,172 sq ft to 4,054 sq ft, and prices ranging from RM1.5mil onwards.

KUALA LUMPUR: S P Setia Bhd has reported strong take-ups and handovers for its developments in Semenyih. These include the commercial and residential offerings at Setia EcoHill, Setia EcoHill2, and Setia Mayuri.

Buoyed by favourable demand, these projects are regarded as some of the most successful townships in Klang Valley.

One of Setia’s latest projects at Setia EcoHill 2, Pines Avenue, features 14 two-storey shop units. The built-up sizes range from 2,988 to 4,421 sq ft, with prices starting at RM1.3 mil.

Bursa Malaysia diunjur mengekalkan trend diniagakan tidak berubah minggu depan sehingga terdapat pemangkin baharu, kata Rakuten Trade Sdn Bhd.

Naib Presiden Penyelidikan Ekuiti Rakuten Trade, Thong Pak Leng, berkata firma pembrokeran itu menjangkakan dagangan lengang berikutan cuti umum Krismas diikuti cuti Tahun Baru.

Pak Leng berkata, dari segi teknikal, prospek jangka pendek FBM KLCI kekal berhati-hati, mencerminkan momentum perlahan dan isyarat pemulihan yang lemah manakala pemulihan jangka sederhana memerlukan pergerakan harga yang mantap, melebihi purata pergerakan eksponen 50 hari (EMA).

As of December 20, 2024, the DJIA closed at 42,840.26, marking a 1.18% increase from the previous day. This rise was part of a broader market uptick, with the S&P 500 and Nasdaq Composite also posting gains of 1.09% and 1.03%, respectively.

Malaysia's inflation rate dipped to 1.8% in November, compared to 1.9% in October, marking the first decline since August 2021, according to the Department of Statistics Malaysia on Friday.

The slight decrease was due to a slowdown in price increases for key sectors like information and communication (-2.3%), transport (-0.2%) and clothing and footwear (-0.1%).

Core inflation, which excludes volatile items like food and energy, remained steady at 1.8%.

Food and beverages continued to be the main inflation driver, recording a 2.6% increase year-on-year. This was fuelled by a rise in meat prices, particularly chicken, which jumped 4.8% compared to November 2023.

Increases in personal care, social protection and miscellaneous goods and services (3.4%) as well as restaurant and accommodation services (2.8%) also contributed to the November print.

POWERWELL HOLDINGS BERHAD - Technical Analysis Report

Timeframe: Daily Chart
Current Price: RM 0.460 (+0.005, +1.10%)
Volume: 6.642M


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Price Trend Analysis

1. Overall Trend

The stock price has been in a clear uptrend since early December

The current price is approaching the recent high of RM 0.460, forming higher highs and higher lows



2. Support and Resistance Levels

Support: RM 0.440 and RM 0.420

Resistance: RM 0.480 and RM 0.500 .



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Volume Analysis

Volume has increased significantly since early December

The latest trading volume of 6.642M accompanies the price increase


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Technical Indicator Analysis

1. Moving Averages (MA)

Short-term MA (5-day and 20-day): The price has crossed above both the 5-day and 20-day moving averages



2. Relative Strength Index (RSI)

The RSI is currently in the 65-70 range



3. Bollinger Bands

The price has broken above the upper Bollinger Band

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MY E.G. SERVICES BERHAD (MYEG) - Technical Analysis Report

Timeframe: Daily Chart
Current Price: RM 0.960 (+0.015, +1.59%)
Volume: 67.238M


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Price Trend Analysis

1. Trend Direction:

The price continues its uptrend, showing strength with consistent upward movement since mid-November.



2. Support and Resistance:

Immediate Support: RM 0.900 to RM 0.875

Immediate Resistance: RM 1.00


3. Volume:

Trading volume increased to 67.238M, a further rise from the previous session



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Technical Indicator Analysis

1. Moving Averages (MA):

Short-term MA (5-day): Continues trending above the medium-term MA (20-day)

50-day MA: Gradually rising



2. Relative Strength Index (RSI):

RSI is approaching the 65-70 range



3. Volume Oscillation:

Increasing volume

KWAP Increases Stake in MYEG Services to 5%

(Kuala Lumpur, 6th) The Retirement Fund Incorporated (KWAP) has increased its stake in MYEG Services (MYEG, 0138, Main Board Technology Group), with direct and indirect shareholding exceeding 5%, making it a major shareholder of the company.

In an announcement today, MYEG Services stated that KWAP acquired these 4,130,600 shares through its headquarters and fund managers on the open market on Thursday (5th).

However, the announcement did not disclose the acquisition price for these shares.

Following this increase, KWAP's direct shareholding in MYEG Services now stands at 321,509,947 shares or 4.269%, while its indirect shareholding is 55,232,072 shares or 0.733%, bringing its total stake to 5.002%.

The FTSE Bursa Malaysia (FBM) KLCI has included 99 Speed Mart Retail Holdings and Gamuda Bhd in its list, replacing Genting Bhd and Genting Malaysia Bhd.

As for the FBM Mid 70 Index, the list saw nine new inclusions.

They are Carlsberg Brewery Malaysia Bhd, Genting, Genting Malaysia, Genting Plantations Bhd, Malakoff Corporation Bhd, Nationgate Holdings Bhd, Oriental Holdings Bhd, Tanco Holdings Bhd and Vitrox Corporation Bhd.

British American Tobacco (M) Bhd, DRB-HICOM Bhd, Supermax Corporation Bhd and Padini Holdings Bhd were among the companies that were removed from the Mid-70 index.

Others included Lotte Chemical Titan Holding Bhd, Mi Technovation Bhd, Sports Toto Bhd and Velesto Energy Bhd.

Meanwhile, the FBM Hijrah Shariah Index added IJM Corporation Bhd and removed Malaysian Pacific Industries Bhd.

FTSE Russell and Bursa Malaysia Bhd said all constituent changes will take effect on December 23, 2024.

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Infoline Tec to be transferred to Main Market


KUALA LUMPUR: The shares of Infoline Tec Group Bhd will be transferred from the ACE Market to the Main Market of Bursa Malaysia at 9am on Friday, Nov 22, 2024.

In a statement, the stock exchange said the stock will be listed in the technology sector.

The stock short name, Infotec, and stock number, 0253, of the company will remain unchanged.

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Trump's economic policies can add RM19.7bln to Malaysia's GDP - Juwai IQI


KUALA LUMPUR: Donald Trump's upcoming economic policies are expected to significantly impact Malaysia's economy, with projections indicating that they could contribute RM19.7 billion to the country's gross domestic product (GDP).

Juwai IQI co-founder and group chief executive officer Kashif Ansari opined that Trump's direction and goals are clear.

"We also have the record of the first Trump presidency as precedent, and we can deduct from the team he has selected for his cabinet.

"One key policy Trump is expected to enact is the extension and intensification of tariffs on Chinese goods," he said in a statement today.

Kashif said this would result in Chinese and international firms going even further than they have over the last eight years to shift manufacturing out of China and into Southeast Asia.

He said this policy alone could contribute an additional one percentage point to Malaysia's GDP over four years.

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Kossan Rubber rises to near four-month high after surprise special dividend


KUALA LUMPUR (Nov 18): Shares of Kossan Rubber Industries Bhd (KL:KOSSAN) rose on Monday to their highest in nearly four months, after the glovemaker unexpectedly declared a special dividend despite below-view results.

Kossan rose as much as seven sen or 3.1% to RM2.35, its highest since July 30. The stock was trading at RM2.34 at 9.05am, giving the company a market capitalisation of RM6 billion. Trading volume totalled more than 1.5 million shares so far.

The company plans to distribute eight sen per share, including a six-sen special dividend. “While a special dividend was not guided, we were not surprised and see this as once-off” ahead of the a 2% dividend tax that will come into force next year, said Kenanga Investment Bank (Kenanga IB) said in a note.

Moving forward, analysts see potential for stronger earnings for Kossan in the coming quarters, pointing to ongoing inventory replenishment and a potential shift in US demand for Malaysian gloves due to the impending tariff increase on Chinese glove imports.

January-September core net profit only accounted for about 60% of consensus full-year forecast, though “going forward, we expect Kossan to deliver sequentially stronger earnings,” said Hong Leong Investment Bank (HLIB) in a note, and maintained its “buy” rating.

Bursa rebounds as buying interest remains supported by strong Wall St showing


KUALA LUMPUR: The domestic market started cautiously on Tuesday after the previous day's selling as investors awaited the corporate results period to hit its stride.

At the opening bell, the benchmark FBM KLCI was up 0.76 points to 1,610.02, mimicking the marginal increase on major US indices overnight. How4ever, the rebound on the index picked up to over five points within the first five minutes to 1,614.36, on the back of a jump in blue chips such as Maybank and Tenaga Nasional.

Malacca Securities Research expects the buying interest to pick up on the local market as the US market maintains its rally while the US dollar continues to strengthen.

In US equity markets on Monday night, the Dow Jones Industrial Average rose 0.7%, to 44,293, the S&P 500 rose 0.1%, to 6,001 and the Nasdaq Composite was little changed at 19,298.

Bursa Malaysia slides amid mixed regional markets


KUALA LUMPUR: Bursa Malaysia slid further as broad market sentiment weakened amid mixed regional markets and a weaker ringgit.

The FBM KLCI fell 11.98 points, or 0.74%, to close at 1,609.26, just above its intraday low of 1,609.24.

Market breadth turns negative as losers outnumber gainers at a 685-to-357 ratio. The traded volume reached 2.7 billion shares, valued at RM2.03bil.

Over half of the KLCI component stocks closed in negative territory, while 10 finished higher.

Smaller foreign outflow of RM392m last week, says MIDF


KUALA LUMPUR (Nov 11): Foreign investors reduced their equity sell-off on Bursa Malaysia last week, resulting in a smaller outflow of RM392 million, still in line with the regional trend where other markets also experienced outflows.

MIDF Amanah Investment Bank Bhd said foreign investors continued to sell Asian equities across seven markets for six weeks in a row, with a net outflow of US$3.42 billion (RM15.06 billion), narrower than the US$4.1 billion net sold the week before.

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Hup Seng shares rise after record quarterly profits, special dividend


KUALA LUMPUR (Nov 7): Shares of Hup Seng Industries Bhd (KL:HUPSENG) rose on Thursday after the biscuit maker declared a special dividend amid record high quarterly profits.

Hup Seng rose as much as 9.1% or 10 sen to RM1.20. The stock was trading at RM1.16 at 9.15am, giving the company a market capitalisation of RM928 million. Trading volume totalled some 1.7 million shares so far.

BIMB Securities upgraded its call on the stock to a “buy”, with a target price of RM1.36, after the quarterly results surpassed both its and consensus’ estimates.

The house also highlighted Hup Seng’s enhanced production capabilities and strong market positioning, and thus raised its earnings estimates.

It has adjusted Hup Seng’s earnings projections upward for FY2024F, FY2025F, and FY2026F by 26.9%, 28.4%, and 30.1% respectively, with anticipation of an increase in sales volume, supported by the new production line and growing market penetration.

“We expect [Hup Seng] to maintain sales momentum, particularly with the upcoming festive season driving consumer demand,” it said in a note on Thursday.

BIMB said the company’s proactive efforts to strengthen brand equity and capture a larger share of both domestic and export markets, underpin its growth trajectory. “Nevertheless, we remain cautious on the rising cost of raw material, namely palm oil, which could impact margins,” it added.

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Foreign investors pulled back from Malaysian stocks in October after September peak


KUALA LUMPUR: Foreign investors pulled back from Malaysia in October after rising to an all-time high of 42.6 per cent participation in September 2024, in what analysts saw as a China pivot.

CGS International in its note on Monday said, in terms of value, foreign investors' participation in Malaysian equities trades saw a pullback of 2.8 per centage points month on month in October.

Local institutional participation rose marginally, by 0.7 per centage points to 32.0 per cent, in Oct 2024.

Further, local retail participation rose for the first time in three months by 1.5 per centage points mom in October 2024 to 18.0 per cent while nominees' participation also rose 0.6 per centage points mom to 9.5 per cent.

Foreign investors, who had been net buyers of Malaysian equities for three consecutive months, turned into significant net sellers in October 2024, with a cumulative net outflow of RM1.8 billion—marking a sharp reversal from September's RM0.5 billion net inflows.

The stocks with positive momentum were:
Bahvest Resources Bhd (KL:BAHVEST) — up 6.5 sen or 7.74% at 90.5 sen
Kumpulan Fima Bhd (KL:KFIMA) — up three sen or 1.46% at RM2.09
The stocks with negative momentum were:
Sarawak Oil Palms Bhd (KL:SOP) — down 17 sen or 5.20% at RM3.44
Sarawak Plantation Bhd (KL:SWKPLNT) — up four sen or 1.70% at RM2.39
SD Guthrie Bhd (KL:SDG) — unchanged at RM4.95

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MN Holdings secures RM63m contract from TNB for energy storage development

KUALA LUMPUR (Oct 30): Utilities engineering services firm MN Holdings Bhd (KL:MNHLDG) has secured a RM63 million contract from Tenaga Nasional Bhd (KL:TENAGA) to develop a battery energy storage system (BESS).

The contract was awarded to MN Holdings’ wholly owned subsidiary MN Power Transmission Sdn Bhd, according to the company’s filing on Wednesday. BESS is an energy storage system that uses batteries to store and distribute electricity.

Under the contract, MN Holdings will carry out the extension of a new 1 x 132-kilovolt (kV) overhead line BESS interconnection facilities bay for TNB, at its existing transmission main intake 132/11kV Santong (air insulated switchgear, or AIS).

The company will also construct a new transmission main intake 132/33kV Santong BESS (1x120MVA) (AIS), which will include the necessary primary, secondary, and power cables, along with all associated civil works.

As part of the contract requirements, MN Holdings will furnish a performance security of RM3.15 million, equivalent to 5% of the accepted contract amount within 56 days from Oct 30.

The company expects to complete both projects within 18 months, starting from Oct 30, and anticipates the contract to contribute positively to its future earnings upon commencement of the contract.

For its fourth quarter ended June 30, 2024, MN Holdings has reported a big jump of 132% in its net profit to RM4.96 million, as compared to RM2.14 million a year ago, thanks to higher construction activities in its underground utilities engineering segment. Revenue also surged 49.3% to RM73.4 million, from RM49.2 million a year before.

Shares in MN Holdings closed two sen or 2.21% higher at 92.5 sen on Wednesday, valuing the company at RM447.17 million. Year-to-date, the stock has appreciated over 68%.

Bursa Malaysia opens lower following mixed Wall Street performance


KUALA LUMPUR: Bursa Malaysia opened lower, reflecting a mixed performance on Wall Street as traders await Alphabet's earnings report.

At 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.35 per cent, losing 5.70 points to 1,609.38, from Tuesday's close of 1,615.08.

The broader market was negative, with losers leading gainers at 368 to 160, while 306 counters remained unchanged.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said overall sentiment remains cautiousas indicated by the low trading volume.

He noted that the crude palm oil (CPO) price has reached its year-to-date (YTD) high, raising hopes for a potentially strong fourth quarter (4Q) for planters.

"All said, we are hopeful the index will maintain its rebound and expect it to hover within the 1,615-1,625 range today," he added.

Ringgit rebounds to 4.358 against US dollar


KUALA LUMPUR: The ringgit rebounded to open slightly higher against the US dollar today, despite cautious sentiment ahead of next week's United States (US) presidential election and the Federal Open Market Committee (FOMC) meeting.

At 8.03 am, the local currency edged up to 4.3580/3645 against the greenback, compared with yesterday's close of 4.3605/3640.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) remains elevated at 104.316 points as the market awaits the outcomes of both events next week.

The US presidential election is scheduled for Nov 5, while the FOMC meeting will take place on Nov 6-7, 2024.

LFE Corp gets RM81.7mil building contract

PETALING JAYA: LFE Corp Bhd has accepted a letter of award worth RM81.71mil from Puncakcity Development Sdn Bhd (PDSB) to be the main contractor for main building works, for a period of approximately 32 months.

In a filing with Bursa Malaysia, LFE said the contract commenced on Oct 15, 2024 and will be completed on June 14, 2027.

“The contract is expected to contribute positively to the earnings and net assets per share of LFE Group for the financial year ending Dec 31, 2024 and up to the expiry of the contract.

“The company does not expect any material risk arising from the contract other than normal operational risk associated with the contract, in which the group would take appropriate measures to minimise them.”

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Major Developments in Sabah and Sarawak

With Indonesia's decision to move its capital to Nusantara, East Kalimantan, both Sabah and Sarawak are presented with significant development opportunities. This will boost infrastructure, logistics, labor market growth, and tourism development, providing substantial economic benefits.

By 2025, it is estimated that Sabah and Sarawak will receive RM67 billion and RM59 billion, respectively, for national development funds. The primary focus will be on enhancing investments in inter-state transportation, electricity, and water supply.

In response to Indonesia's capital relocation and increased investments, Malaysia is expected to accelerate its development in Pan Borneo Highway and Sabah International Airport expansion, as well as Sarawak Airport expansion, particularly in Miri and Sibu. These infrastructure improvements will increase Malaysia's competitive edge, making air and sea transportation between the regions smoother and creating new economic opportunities.

Development of Industries and Commerce ⭐⭐

The relocation of Indonesia's capital has accelerated the growth of Sabah and Sarawak's industrial sector. Historically rich in resources, this presents opportunities for local developers and investors to promote land value appreciation and real estate market growth.

Trade and Business Ties ⭐⭐

Economic ties are expected to strengthen between East Malaysia and Indonesia, particularly in the trade of food, building materials, and consumer goods. Entrepreneurs in both regions will have opportunities to tap into new markets and establish business connections to meet new consumer demand.

Job Opportunities and Workforce Market ⭐⭐

The enhanced infrastructure development in East Malaysia is expected to generate employment opportunities, especially in the construction and service industries. Residents in the eastern regions of Malaysia will benefit from new job training programs, increasing workforce mobility and improving employment rates.

Boost in Tourism ⭐⭐

New infrastructure projects are expected to attract tourists to East Malaysia. As travel routes improve, Sabah and Sarawak are expected to receive more tourists, which will boost the related local economy and drive further growth in tourism-related industries.

LFE JV secures RM38.7mil data centre award


KUALA LUMPUR: LFE Corp's joint venture firm has accepted a RM38.7mil contract from Gamuda Engineering Sdn Bhd for the completion of a data centre and other facilities in Rawang in Selayang, Selangor.

In a filing with Bursa Malaysia, the group said R&L Engineering Sdn Hd, a partnership between its wholly-owned subsidiary LFE Engineering Sdn Bhd and RYB Engineering Pte Ltd, had undertaken the 12-month contract, which commenced on Oct 4, 2024, and will be completed on Oct 18, 2025.

The contract is expected to contribute positively to the earnings and net assets per share of LFE Group for the financial year ending Dec 31, 2024, and up to the expiry of the Contract.

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PAST RECORD

PAST RECORD

Jasa Kita, RHB Bank, Public Bank, Hong Leong Bank, HLFG, Varia

KUALA LUMPUR (Aug 28): theedgemalaysia.com highlighted six stocks with momentum at Bursa Malaysia’s noon market break on Wednesday, with three stocks showing positive momentum and three stocks showing negative momentum.

The stocks with positive momentum were:
Jasa Kita Bhd (KL:JASKITA) — unchanged at 19 sen
RHB Bank Bhd (KL:RHBBANK) — up 23 sen or 3.89% at RM6.15
Public Bank Bhd (KL:PBBANK) — up 11 sen or 2.35% at RM4.79
The stocks with negative momentum were:
Hong Leong Bank Bhd (KL:HLBANK) — up 54 sen or 2.68% at RM20.70
Hong Leong Financial Group Bhd (KL:HLFG) — up 28 sen or 1.54% at RM18.46
Varia Bhd (KL:VARIA) — down two sen or 1.92% at RM1.02

PA Resources' 4Q net profit nearly quadruples on higher margin, lower taxes

KUALA LUMPUR (Aug 28): Aluminium producer PA Resources Bhd's (KL:PA) said on Wednesday its net profit nearly quadrupled year-on-year in the fourth quarter thanks to higher margin and sharply lower tax expenses.

Net profit for the three months ended June 30, 2024 (4QFY2024) was RM13.29 million compared to RM3.35 million over the same period last year, PA Resources said in an exchange filing. Revenue for the quarter rose 40% year-on-year to RM146.79 million from RM104.52 million.

“The board opines that the performance for the financial year ending 2025 will be cautiously optimistic,” PA Resources said without elaborating further.

Meanwhile, the company said it has engaged consultants and initiated the planning process to construct a new plant on recently acquired land as part of its mid-term growth. The new plant will double its current capacity and allow PA Resources to tap upstream and downstream business, it added.

For the full financial year, net profit rose 46% to RM45.73 million from RM31.37 million in FY2023 which the company said reflects its “initiatives, market demand and operational efficiencies”. Revenue for the year rose 22% to RM564.64 million from RM461.51 million.

The company also declared an interim dividend of 0.5 sen per share, involving total distribution of RM7.5 million, payable on Oct 15.

Shares of PA Resources rose following the results announcement, up nearly 3% to 35.5 sen after more than 10.76 million shares changed hands at the midday trading break.

Farm Fresh’s 1Q net profit grows fourfold to near RM26mTheEdge

KUALA LUMPUR (Aug 28): Farm Fresh Bhd’s (KL:FFB) net profit grew fourfold to nearly RM26 million or 1.39 sen per share in the first quarter ended June 30, 2024 (1QFY2025), from RM6.37 million or 0.34 sen per share a year ago, as significantly higher sales were bolstered by decreased costs.
It did not declare any dividend during the quarter under review.
The group recorded a more than two-fold increase in gross profit to RM72.9 million in 1QFY2025, and gross profit margin had improved from 17.7% to 30.2%, due to reduction in costs of dairy raw materials, impact of increase in prices for chilled ready-to-drink (RTD) products and certain ultra-high temperature (UHT) products in Malaysia effective mid-July 2023.
Profits were also boosted by contributions from its Inside Scoop and Sin Wah ice cream outlets, as well as improving margins from its Australian operations.
Revenue rose 30% to RM241.7 million, from RM185.46 million a year ago, according to its Bursa Malaysia filing on Wednesday.
During the quarter under review, revenue from Malaysia’s operation increased to RM203.5 million, from RM149.8 million in 1QFY2024 underpinned by sales contribution from new products, higher sales from its HORECA (hotel, restaurant, and café/catering) distribution channel, as well as full quarter contributions from its Inside Scoop and Sin Wah businesses.
Farm Fresh noted that its Australian revenue also increased by 7.2% or RM2.6 million, driven by increasing external sales from Goulburn Valley Creamery Pty Ltd.
In a separate statement, Farm Fresh group managing director and group chief executive officer Loi Tuan Ee said the group expects to see continuous growth coming from its products, such as the Farm Fresh Grow in powder format.
“Paired with our newly launched chocolate malt product, we expect this to spur a new growth catalyst for the group, enabling us to penetrate new market segments to further grow our total addressable market,” he added.
Loi said Farm Fresh also plans to expand its product offerings to include butter and cultured milk products to its product line-up, and introduce them in the “next few months”.
The group’s regional expansion has taken shape in the Philippines, where it expects its factory to start operating by the end of August 2024, he said.
“This will allow us to introduce our chilled, ultra-high temperature, and growing-up milk powder products to the Greater Manila market.
“As for Australia, we have posted a turnaround this quarter, driven by higher revenues from Goulburn Valley Creamery.
We expect our Australian results to continue to improve, following the reduction in season farmgate prices by about 11% beginning July 2024,” he added.

Kenanga maintains 'outperform' on Karex after FDA approval

KUALA LUMPUR: Kenanga Investment Bank Bhd maintained its "outperform" rating on Karex Bhd, setting a share target price of RM1.12 after the United States Food and Drug Administration (FDA) approved its new synthetic condoms.

In a note today, the bank said the approval significantly enhances Karex’s growth prospects, though large orders are more likely to materialise in the financial year 2026 and beyond as the product gains market traction.

The bank said the FDA approval significantly boosts Karex’s growth prospects, although substantial orders are expected to materialise in the financial year 2026 and beyond as the product gains traction.

The FDA approval came just a month after Karex received Conformité Européenne (CE) certification in Europe, a regulatory standard that verifies products are safe for sale and use in the European Economic Area.