Malaysia's stock market has seen notable performances from its largest companies, with certain big-cap stocks outperforming the market in 2024. These companies, spanning sectors like finance, property, construction, and plantation, have leveraged strategic growth initiatives and resilient fundamentals to boost shareholder value. This article highlights the top ten big-cap stocks in Malaysia with the highest performance, analyzing the factors driving their success and how they’ve weathered global economic challenges to emerge as market leaders.

All these stocks significantly outperformed the FBMKLCI’s 11.6% gain, with YTD price appreciation ranging from 29.1% to 124.8%. Only stocks with a market cap higher than RM10 billion will be selected.

No 10: IOI Properties (YTD Performance: 28.4%)

IOI Properties Group operates in property development, investment, and hospitality. Its core business is developing residential, commercial, and industrial properties in Malaysia and China. The company also manages investment properties like malls and offices and owns hotels and resorts, enhancing its recurring income base. Its focus on sustainable, integrated townships and mixed-use developments is central to its growth strategy.

The company’s position as a top 10 gainer YTD in Malaysia is driven by its strong performance in property sales and sustained growth in investment properties and hospitality. The company has capitalized on high demand for residential properties, particularly in Malaysia, while also benefiting from strategic project launches and competitive pricing. Its investment properties, such as malls and offices, have contributed stable, recurring income amid the market recovery. Additionally, IOI Properties’ expansion in China, where it has launched several developments, has opened new revenue streams. Positive investor sentiment around Malaysia’s property sector recovery and IOI's cost control measures further supported its strong stock performance this year.

No 9: AMMB Holdings (YTD Performance: 30.3%)

AMMB Holdings Berhad, also known as AmBank Group, operates as a leading financial services provider in Malaysia. Its core services include retail, business, and investment banking, insurance, and asset management. The group serves individuals and corporations with products like loans, deposits, credit cards, and wealth management solutions. AMMB focuses on digital transformation to enhance customer experience and expand its financial reach across Malaysia’s diverse markets.

The company has achieved top-10 gainer status in Malaysia this year, largely due to strong financial performance, strategic growth plans, and positive analyst sentiment. Notably, AMMB reported a 9.4% rise in net profit for FY2024 and a 32% increase in Q1FY25 earnings, driven by efficient cost management and solid asset quality. Additionally, its "Winning Together 2029" strategy emphasizes dividend growth and profitability, attracting investors. The stock's target price was raised by analysts, reflecting confidence in sustainable loan growth and net interest margins.

No 8: CIMB Group Holdings (YTD Performance: 40.8%)

CIMB Group is a leading ASEAN universal bank providing a wide range of financial services, including retail banking, corporate banking, investment banking, Islamic banking, and asset management. It operates across Malaysia and other ASEAN countries, offering solutions to individuals, businesses, and institutions.

CIMB’s strong performance as one of Malaysia’s top 10 gainers YTD can be attributed to several factors. Firstly, the bank has benefited from robust economic recovery in ASEAN, which boosted demand for banking services across retail, corporate, and investment sectors. Its strategic focus on digital transformation has improved customer experience and operational efficiency, contributing to higher profitability. Furthermore, CIMB’s prudent risk management and cost-control measures have enhanced its financial stability. The positive market sentiment and the bank’s solid capital position have also driven investor confidence and stock performance.

No 7: Malaysia Airport (YTD Performance: 42.6%)

Malaysia Airports Holdings Berhad (MAHB) operates and manages airports in Malaysia and abroad. It provides airport-related services, including aircraft landing, parking, passenger handling, and retail operations. MAHB is essential to Malaysia's air transportation and tourism industries, with its main hub at Kuala Lumpur International Airport (KLIA).

Malaysia Airports Holdings Berhad (MAHB) has become a top YTD gainer in Malaysia primarily due to the strong recovery in air travel demand post-pandemic. As travel restrictions eased, passenger volumes surged, boosting MAHB’s revenue from airport services and retail operations. Additionally, increased domestic and international flights have led to higher aircraft landing and parking fees. Strategic expansions and ongoing upgrades at major airports like KLIA have also contributed to investor optimism. Another factor is Malaysia’s tourism revival, with more inbound travelers supporting long-term growth for the aviation sector. Improved financial performance and better-than-expected earnings results further strengthened investor confidence in MAHB's recovery trajectory.

No 6: Tenaga Nasional (YTD Performance: 44.0%)

Tenaga Nasional Berhad (TENAGA) is Malaysia's largest electricity utility company, generating, transmitting, and distributing electricity across the country. It operates power plants, manages grid systems, and provides energy solutions. TENAGA plays a crucial role in supporting Malaysia's energy needs and is transitioning towards renewable energy to support sustainability.

Tenaga Nasional Berhad (TENAGA) has become a top YTD gainer in Malaysia due to several factors. The company’s strategic shift towards renewable energy has attracted investor interest, aligning with global sustainability trends. Strong earnings growth, driven by stable electricity demand and government support for energy infrastructure, has further bolstered its financial outlook. Additionally, TENAGA has benefited from favorable regulatory conditions, including cost-recovery mechanisms that protect its revenue base despite fluctuating energy prices. The company's initiatives to enhance operational efficiency and reduce debt have also strengthened investor confidence, positioning TENAGA as a resilient utility stock amid market uncertainties.

This concludes Part 1 of 2 for the Top Ten stocks. The next 5 stocks will be revealed in the following article.

To read more about hot stocks, please visit https://kingkkk.substack.com/

About KingKKK

I am one of the top 10 investors on i3investor, with a 23.65% portfolio return in the first 10 months, outperforming the FBMKLCI's 11.14%

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