Looks like The Edge realised it already. We're kinda screwed.

https://theedgemalaysia.com/node/723965

https://theedgemalaysia.com/node/717739

https://x.com/ByJasonNg/status/1729444881951760630?s=20

Farm Fresh acquired another ice cream company. How come no media report about this?

=HOT STOCKS: Astro Malaysia Plunges To New Record-Low, Lower Dividend Fear Weighs - NewsRise

KUALA LUMPUR (Sep 26) -- Astro Malaysia plunged nearly 9% to new all-time low on Tuesday as investors dumped the pay-television operator fearing tougher days ahead following latest earnings announcement and a revised dividend policy that sparked analysts' warning of potential lower future payouts.

Several analysts cut their target prices after slashing earnings forecasts on lower-than-expected profit in the quarter ended Jul. 31. At least one analyst downgraded the stock’s rating. TA Securities’ Wilson Loo lowered his recommendation to Sell from Buy, citing Astro’s unfavorable risk-reward potential.

“While Astro continues with its transformation plans in an attempt to reverse and stabilize the long-standing decline in its pay-TV subscription revenue, efforts are proving to be a long haul,” Loo said. In the nearer term, macroeconomic headwinds will drag on its key pay-TV subscription and advertising revenue, he cautioned.

Shares of Astro fell to as low as 0.465 ringgit on Bursa Malaysia. The stock was trading at 0.475 ringgit at 10.45 am local time after 16.9 million shares changed hands. The country’s benchmark FTSE Bursa Malaysia KLCI meanwhile was 0.1% higher.

The company did not declare interim dividend as widely expected on Monday and scrapped its policy to pay out at least 75% of net profit. It only committed to distribute an undetermined amount of dividend annually instead of quarterly basis.

“As Astro has been viewed as more of a dividend than growth stock, we believe that the [dividend] uncertainty will be viewed poorly,” said Maybank Investment Bank’s Yin Shao Yang, who has Sell call on Astro. While he kept dividend expectation steady for the year ending Jan. 31, 2024, he noted “we fear that they may not materialize.”

Astro reported that its net profit plummeted 76% to 23.65 million ringgit ($5.05 million) from a year earlier, following higher content costs as well as rising finance costs due to unrealized foreign exchange loss. Revenue fell 5.6% year-on-year to 869.82 million ringgit amid decline in subscription, advertising and merchandise sales.

“All in, we remain concerned over a challenging environment driven by a structural shift in pay-TV landscape, shrinking consumer disposable income and a muted adex outlook,” Affin Hwang Investment Bank’s Nadia Aquidah and Lim Jia Zhen wrote in a joint note to clients.

KUALA LUMPUR (Sep 26) --

=MARKET BUZZ: Malaysia's Puncak Niaga Surges 16%, Closes In On Two-Year High

KUALA LUMPUR (Sep 25) -- Malaysia's Puncak Niaga Holdings surges as much as 16% to MYR0.43, its highest since October 2021, adding to Friday's 8.8% gain. Traders are "very bullish" judging from technical indicators and surge in trading volume, says technical analyst with local brokerage. Notes, Puncak's "gap up" took out out two resistance levels and has since breached more resistance levels with all major moving averages now "turning into support levels." Says, "you should watch for MYR0.435, which is not very far away from where we are right now... if that's breached, then the next resistance is MYR0.465," which is September 2021 high. Adds, RSI and other momentum indicators are in positive territory, but "they haven't gone into overbought territory, so there is still some upside to go." Shares now at MYR0.41. Volume at 23.8 million shares.

=MARKET BUZZ: Malaysia's SKB Shutters Climbs 8.5%, Breaks New All-Time High

KUALA LUMPUR (Sep 25) -- Malaysia's SKB Shutters Corporation surges to new all-time high, up as much as 8.5% to MYR0.83, extending its rally. "This is definitely uncharted territory... you should watch for pullback from bearish divergence [and] keep your trading horizon short," says technical analyst with local brokerage. There are no institutional analysts covering SKB. Notes, despite daily chart still flagging uptrend, multiple indicators show SKB is "deeply" overbought following recent rapid spike. Says, "usually, the next resistance is at the psychological level so in this case, it's MYR1.00 but keep your stop-loss tight." Shares up nearly 140% since August 28. Volume at 5.8 million shares.

MARKET BUZZ: Malaysia's Top Glove Slips To One-Month Low After MSCI Deletion - NewsRise

KUALA LUMPUR (Aug 11) -- Malaysia's Top Glove Corp drags other glovemakers lower with 2.3% decline to MYR0.845, its lowest since Jul. 14, following deletion from MSCI Malaysia Index. "Glove stocks have been losing market cap, so it's not a surprise to the market," says institutional dealer with local investment bank. Notes, institutional investors, and passive fund managers tracking related MSCI indices in particular, will likely sell Top Glove in coming days. Says, Top Glove's weighting is "probably 1% or less" in MSCI Malaysia Index though "we can expect net outflow, both domestic, foreign... trading volume will probably go up." Changes to MSCI index constituents will be effective Aug. 31. Shares of Top Glove down 6.6% year-to-date.

Malaysia Berjaya Corp Seeks BNM Nod To Turn Itself Into Financial Holding Co-Chairman - NewsRise
KUALA LUMPUR (Dec 15) -- Malaysia's Berjaya Corporation is seeking approval from the central bank to turn itself into a financial holding company from a consumer conglomerate, its chairman said Thursday.

"The company is looking to get approval from Bank Negara Malaysia to be a financial holding company," Vincent Tan said at the annual shareholders' meeting.
As part of the process, BNM has requested Tan to reduce his holding in the company to 19.9%, he said in response to a query on his recent stake sale.

However, he declined to elaborate further on the ongoing process. Berjaya Corp’s financial services businesses include stockbroking, asset management, insurance, and credit leasing.

At the same time, Berjaya Corp remains in talks to sell several non-core assets as part of an ongoing effort to cut its debt and exit non-performing businesses, he said.

“There are proposed disposal of properties which are still in the midst of negotiations (and) are expected to be divested in the coming months," he noted.

In 2021, Berjaya Corp. announced a three-year strategic plan that centered around restructuring and disposal of non-core assets, key to put the company on track to achieve sustained profitability.

One of the key measures involves enforcing recurring dividend payout to Berjaya Corp from its various units operating in diverse businesses ranging from lottery-to- hotels and from restaurants-to-luxury cars.

"I'm confident by (financial) year end June 2023, we will pay a dividend," Tan said.

Hospitality segment, the only business segment in the red partly due to Covid-19 pandemic effect, is expected to return to profit in the current fiscal year following an influx of foreign tourists, Tan added.

"Hospitality segment remains optimistic as its traffic volume picks up with the growing confidence of international travelers and the increasing influx of tourist arrivals," he said.

In other developments, Tan said Berjaya Corp will invest about 500 million ringgit ($113.44 million) over 30 years to modernize Sabah state waste management facilities.

The company is currently conducting a feasibility study for the development and operation of five integrated waste management facilities under a concession period of 25 year-to-30 years, he said. Berjaya expects the study to be completed by the first quarter of 2023.

The recurring income is estimated at between 35 million ringgit and 40 million ringgit per annum during the initial operating years mainly from solid waste tipping fees and sales of renewable energy, carbon credits and recyclables, he said.

The waste management facilities modernization is to be undertaken by Berjaya Enviro Holdings, a unit of Berjaya Corp, together with Sabah state investment arm Qhazanah Sabah. The projects will include the capabilities to extract recyclables from solid waste and generate green electricity using landfill gases.

On its property development business, Berjaya Corp is planning a mixed development project in Iceland under the Four Seasons brand, Tan said. "Iceland has been a good investment for us," he said, without disclosing gross development value for the project.

Berjaya Corp has also secured development order for its Berjaya Hills Resort for the construction of 3,000 houses, he added.

KUALA LUMPUR (Sep 17) -- Malaysia's automated systems manufacturer MMS Ventures expects revenue to rise about 36% annually to 60 million ringgit ($14.43 million) in 2022 driven by new products and robust demand for smart devices, its chief executive said.

For this year, revenue will touch 44 million ringgit with the second-half’s performance beating that of the first six months by half, Sia Teik Keat said in an investor briefing.

Financial performance may hit a record high in 2023 with gross margins targeted between 25% and 28%, he said.

"Seasonally, third quarter is the strongest quarter, while first quarter is the weakest," Sia said. A 20% annual revenue growth “is not difficult as long as the demand is strong,” Sia said, noting that performance will largely depend on demand for smart devices and automotive products.

"We have received a small purchase order for a new product to be launched in the fourth quarter, but major contribution will be from the next year", he added.

In view of the stronger demand, MMS Ventures is looking to expand production space by 30%-to-40% as more than 80% of the current space is utilized, Sia said. The expansion will likely start in the fourth quarter, while capital expenditure will be finalized later, he added.

The company is also considering to provide maintenance services to existing clients, which could potentially generate additional 10% revenue, he said.

=MARKET BUZZ: Malaysia Top Glove Falls To Near 14-Month Low As Short Sellers Pile On

KUALA LUMPUR (Sep 9) -- Malaysia's Top Glove Corporation slips 2.2% to MYR3.50, its lowest since June 20 last year, as glove manufacturers broadly decline again. Despite year-long decline, short-sellers are still piling on the stock, says dealer with local brokerage. Notes, more than 880,000 short interests in Top Glove so far today, adding to some 180 million net short position in the stock. Says, "the top three shorted stocks are all glove stocks... that should tell you what is the sentiment on the ground." Adds, traders likely to continue rotating out to other sectors and "current trend is not on their side and it's not advisable to fight against market forces." Hartalega Holding down 2.5% to MYR6.51 while Supermax Corporation down 3.4% to MYR2.86.

=Malaysia Sabah Port Gets In Principle Approval For Higher Tariff-Suria Capital Executive

KUALA LUMPUR (Sep 8) -- A proposal by state-owned Suria Capital Holdings to raise port tariff in Sabah state by 10%-to-20% has been approved “in principle” by the state cabinet, its managing director said.

The increase in certain charges will have to reflect current trends such as usage of high-tech equipment, inflation, and maritime conventions, Managing Director Ng Kiat Min told NewsRise. The revisions, if approved, will cover all types of containers, ranging from most common 20-foot container to dangerous cargo container, she said.

"The revision of the tariff is crucial as many of the tariffs are outdated and below market rate,” Ng said, noting that tariff has largely remained unchanged since 1977. "The need is immediate."

Suria Capital operates eight ports in Sabah, including Sapangar Bay Container Port, Sapangar Bay Oil Terminal, Kota Kinabalu Port, Sandakan Port, Tawau Port, Lahad Datu Port, Kunak Port and Kudat Port. Currently, Sabah Ports' charge ranges from 350 ringgit-to-860 ringgit per container depending on the types.

"In the privatization agreement of 2004, there is a provision that allows us to apply for a tariff revision," she said, noting that there was also a provision for its unit Sabah Ports to amend the tariff from time-to-time based on the financial needs to meet the current trend and market needs in the port industry.

The company is also seeking a 30 year extension for its ports concession from the state government, Ng said. Suria Capital's current concession will expire in 2034.

"It is very crucial due to the capital investment that Sabah Port is going to embark to meet the demand and opportunities and also requirements by potential investors," Ng said. A longer concession period will make it feasible and viable for all the stakeholders, she added.

Wah luckily never buy yesterday. If not sure naik kereta today.

=INTERVIEW: Malaysia Revenue Group Plans Multi-Feature Mobile App To Boost Income-CEO

Malaysia’s Revenue Group plans to launch a mobile chat application and add several features such as payment mechanism to it in phases through the next year as it looks to diversify income base, its chief executive said.

The company will launch the social community chat app WannaTalk by month-end, and will integrate wallet service and retail service in March 2020, Eddie Ng told NewsRise. The target is to have 500,000 WannaTalk users within a year, he said.

“Merchants are facing business challenges due to pandemic,” Ng said. “But if we have a big group of B2C (business-to-consumers) or consumers with us through a single platform, we can help merchants to push their products to the consumers through the single platform.”

Revenue Group mainly derives income from installing and managing electronic data capture, or EDC payment terminals, which accounts for about 60% of its annual revenue. Electronic transaction processing and other services account for the remainder 40%.

Revenue Group aims to deploy 100,000 EDC terminals by its fiscal year ending Jun. 30, as against 80,000 units currently, Ng said.

The company plans to introduce marketplace on Wannatalk in June 2021 and finally provide digital financing services by September, Ng said. Through the new business model, Revenue Group will earn transaction income as well as servicing fee-based income, he said.

“Merchants will pay extra percentage to us for every successful transaction,” he said. “Contribution from the application is immediate.”

The company also plans to acquire an e-hailing company by year-end to further complement its offerings, Ng said. “We are finalizing some terms and conditions and hope to make an announcement latest by year,” he said.

The deal size however is relatively small and it will be funded through the company’s internal cash totaling 27 million ringgit ($6.53 million), Ng added.

Despite delays, the Revenue Group remains keen on expanding to Myanmar and Cambodia to tap into their nascent electronic payment industries, Ng said.

“If we had already invested in it, it will be a very big challenge to us to manage business growth as cost will be in US dollar,” he said. “Now we have built different types of applications during the pandemic, and we just need to replicate the model to other countries.”

Shares of Revenue Group, which have gained about 28.5% over the past year, were unchanged at 1.18 ringgit apiece on Bursa Malaysia.

=MARKET BUZZ: Malaysia's Glove Stocks Rally; CLSA Sees More Upside Potential
Malaysian rubber glove stocks continue to rally, with largest maker Top Glove Corporation rising 9.4% to MYR8.49; Hartalega Holdings climbs 5.5% to MYR13.12 while Kossan Rubber Industries 3% higher at MYR11.00. CLSA says there is still upside potential for glove stocks from current share prices and keeps Overweight rating on the sector. Notes, “with market expectations of supernormal profits increasingly being priced-in, it is necessary to value the sector from the perspective of long-term strategic investors where we still see significant value being derived on a medium-term horizon.” Following post-earnings revision and valuation methodology changes, CLSA lifts Top Glove’s target price to MYR10.00 but lowers target for Hartalega to MYR20 and Kossan Rubber to MYR16.10.

Anyone has this CLSA report?

Shit. Credit Suisse downgraded Heineken and cut the target price.

YES!!! I can order "Buddha Jumps Over the Wall" today hahahaha

=MARKET BUZZ: Malaysia's Pharmaniaga, Duopharma Biotech Climb On Vaccine Newsflow

Pharmaniaga gains 7.6% to MYR4.79 while Duopharma Biotech climbs more than 10% to MYR3.18 as news about Covid-19 vaccine continues to flow; Ho Wah Genting extends gain, surging 10% to MYR1.32 following announcement that the wires-and-cables company is seeking to venture into vaccine business. “Pharmaceutical is now the most exciting sector of the market,” analyst with local brokerage. Notes, some investors are rotating funds out of technology sector and into vaccine-related stocks to take advantage of strong, but likely short-term, uptrend in the sector. Adds, pharmaceutical as a business generally has long gestation, requiring heavy capital investment for research in tightly-regulated environment, making the sector highly risky for equities market.

See the last sentence. Better be careful.

Malaysia's Pharmaniaga Allocates MYR240 Mln To Build Vaccine Plants, Warehouse

Malaysia's pharmaceutical company Pharmaniaga has budgeted 240 million ringgit ($57.18 million) in capital expenditure over the next two years to build two vaccine plants and a warehouse, an official said today.

The company will build a so-called fill-and-finish vaccine plant and another one for manufacturing vaccines, Mohamed Iqbal Abdul Rahman, the acting chief executive, said. Pharmaniaga will also build a warehouse to enhance logistic efficiency, he added.

Currently, the company has converted part of its Puchong plant into a fill-and-finish vaccine plant, which is capable in producing 10 million doses of vaccines per month, he said. This would cater to government's needs when Covid-19 vaccine is made available, he said.

Mine refunded today. Zero lot.

Better becareful of this stock. I read it takes 10-20 years a gold mine can produce anything.

@KL1900 Limit Up should be RM0.415

=MARKET BUZZ: Malaysia's Niche Capital Emas Jumps 83% As Investors Hunt Gold Stocks

Niche Capital Emas Holding surges 83% to MYR0.21 in highly active trade. Stock hit an intraday high of MYR0.26 before easing off as jewelers and gold-related stocks have rallied tracking rise in gold prices, which has stayed above $2000 an ounce. Investors are hunting for more gold-related stocks to catch up with gains of Poh Kong Holdings and Tomei Consolidated, says dealer with local brokerage. Adds, “the uptrend is there... it’s a clear breakout in high volume from its recent price” and investors may also consider the company’s warrants for short-term gains. Nearly 400 million shares changed hands so far. Meanwhile, Poh Kong and Tomei climb over 17% and 21%, respectively.

=MARKET BUZZ: Malaysia's Hartalega Holdings Extends Loss After 1Q Results
Malaysia’s Hartalega Holdings falls as much as 14%, hitting a low of MYR17.54, following its 1Q results. The stock, top loser on KLCI, is now down 10% at MYR18.40, dragging the benchmark index down 0.5%. “Our analyst said the result is within expectations fundamental and prospects still good, so this selldown is mostly due to institutional investors taking profit,” says institutional dealer with local investment bank. Adds, aggressive investors may consider the opportunity to top up their holdings at current level, noting that the stock will probably stabilize around MYR19 for the day.

You should get on tomorrow. They will credit the shares into your CDS account at tomorrow's night being the book closing date.

A little correction is healthy for any stock. 1%-2% correction is nothing and it's not a full-on panic.

This one is bookbuilding lah. Only institutional investors can participate. Some more issuing new shares. DIE.

Anyone has the original Nikkei article about the tariff hike? What exactly did they write?