Asian equities began the week on a subdued note as high U.S. Treasury yields tested Wall Street's lofty valuations, keeping the U.S. dollar near multi-month highs. Market Performance : MSCI Asia-Pacific Index dipped 0.2% but remains 16% up for the year. Japan’s Nikkei slid 0.9%, still boasting a 20% annual gain. Chinese blue chips rose 0.3%, with most of their 16% yearly gain achieved after Beijing’s September stimulus promises. South Korea's index edged up 0.3% but is down 9% for the year, weighed by political uncertainties and events like Jeju Air’s recent plane crash. Global Futures : EUROSTOXX 50 futures gained 0.1%. U.S. futures saw slight declines, with S&P 500 and Nasdaq futures down 0.1%. Economic Drivers and Concerns U.S. Treasury Yields : Yields on 10-year Treasuries are near eight-month highs at 4.631%, up 75 basis points for the year. Rising yields reflect revised expectations of less restrictive monetary policy, raising concerns about potential impacts on corpo...
Cypark Resources Bhd (KL): Cypark has formed a consortium with Jakel Capital Sdn Bhd and Melaka Corporation to explore energy solutions for the 186ha German Technology Park in Melaka. The estimated project cost is RM4 billion, with Jakel Capital holding a controlling 51% stake. This partnership is aimed at powering up the park with renewable energy.
Malayan Flour Mills Bhd (KL): The company announced that there will be no second earnout payment from Tyson Foods Inc related to its 49% equity disposal in Dindings Tyson Group. This reduces the total consideration for the sale to RM289.916 million from the initially expected RM420 million.
PLB Engineering Bhd (KL): PLB has proposed the sale of its 60% stake in a solar energy firm, PLB Green Solar Sdn Bhd, for RM19.8 million. The proceeds will help the company repay bank borrowings, and the sale is expected to generate a profit of RM10.76 million.
Infomina Bhd (KL): Infomina reported a 10.25% increase in net profit for 1QFY2025 to RM8.01 million, despite a 17.84% drop in revenue. The higher gross profit margin contributed to the increased profitability, and no dividend was declared for the quarter.
Eurospan Holdings Bhd (KL): Eurospan posted a fivefold surge in 1QFY2025 net profit, reaching RM23.34 million, driven by gains from property and investment disposals. However, the company expects challenging times ahead for FY2025. A dividend of 20 sen per share was declared for the quarter.
Yinson Holdings Bhd (KL): Yinson appointed Lim Poh Seong as an independent non-executive director. Lim holds similar positions in other companies like Hup Seng Industries Bhd, Samaiden Group Bhd, and Farm Price Holdings Bhd.
Perdana Petroleum Bhd (KL): Perdana secured a RM7.3 million contract to charter an anchor handling tug and supply (AHTS) vessel. The vessel will assist in offshore operations, including supporting drilling rigs and offshore installations in Sarawak.
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