Eurozone finance ministers expressed concerns that the U.S. government’s embrace of cryptocurrencies could pose risks to Europe's monetary sovereignty and financial stability . Their worries come after President Trump signed an executive order to create a strategic reserve of cryptocurrencies using tokens already owned by the U.S. government, signaling a shift in policy from the previous administration. Key Takeaways: Policy Shift in the U.S. : The U.S. administration’s new stance on cryptocurrencies , especially dollar-denominated stablecoins , has sparked concerns in Europe. Trump’s move to embrace cryptocurrencies as part of the U.S. financial system contrasts with past U.S. policies, raising alarms about the impact on European financial stability. Impact on Europe’s Monetary Sovereignty : Paschal Donohoe , Chairman of the Eurogroup, highlighted that such developments in the U.S. could directly affect ...
Here’s a recap of notable corporate announcements and updates on Monday, Dec 16:
Gamuda Bhd
- Australian Contract Win: Gamuda’s subsidiary, DT Infrastructure Pty Ltd, secured a A$625 million (RM1.8 billion) engineering, procurement, and construction (EPC) contract for the 585MW Goulburn River Solar Farm in New South Wales. Work begins in January 2025.
- Key Scope: Includes civil, structural, and electrical infrastructure development.
Winstar Capital Bhd
- Upcoming Listing: Set to debut on Bursa Malaysia’s ACE Market on Dec 19.
- Performance: Recorded a 3QFY2024 net profit of RM3.31 million on RM58.76 million revenue.
- Business Segments: Aluminium extrusion (57.7% of revenue), building materials, and solar PV system installations.
MClean Technologies Bhd
- Diversification Approved: Shareholders approved a move into plastic injection moulding and a private placement.
- Key Figures: Acquiring the business for RM6.04 million; private placement to raise RM12.3 million; a RM35 million capital reduction to offset losses.
DRB-Hicom Bhd
- Strategic Partnerships: Signed MOUs with Mida and MARii to boost Malaysia’s automotive industry through the Automotive Hi-Tech Valley (AHTV) project.
- Aim: Transform AHTV into a global hub for next-generation vehicles.
Sapura Industrial Bhd
- Shareholder Exit: Puncak Exotika Sdn Bhd reduced its stake below the substantial 5% threshold after selling 500,000 shares at 82 sen each.
NTPM Holdings Bhd
- Return to Profitability: Reported a net profit of RM162,000 in 2QFY2025, supported by a RM5.92 million forex gain, despite a 2.6% drop in revenue.
- Dividend Declared: First interim dividend of 0.4 sen per share, payable Jan 20, 2025.
Crest Group Bhd
- HQ Expansion: Acquiring a RM16.5 million industrial property in Puchong, Selangor.
- Purpose: New headquarters and consolidation of central operations.
- Funding: From IPO proceeds and internal funds.
Marine & General Bhd
- Profit Growth: 2QFY2025 net profit surged 46.7% to RM12.1 million, driven by higher charter rates.
- Revenue: Rose 1.3% YoY to RM93.1 million, despite lower utilisation rates.
George Kent (M) Bhd
- New Contract: Awarded a RM45.5 million contract for Kwasa Damansara township infrastructure works.
- Timeline: Begins Jan 2025, completion by July 2027.
Infomina Bhd
- International Deal: Secured a US$2.6 million (RM11.6 million) order from Hong Kong Exchanges and Clearing Ltd (HKEX) for tech application and support services.
- Duration: Dec 2024 to Dec 2027.
Perdana Petroleum Bhd
- Charter Contract: Signed a three-year agreement for an anchor handling tug and supply (AHTS) vessel, with a possible three-year extension.
- Scope: Supporting offshore rigs, installations, and barges.
Advancecon Holdings Bhd
- Infrastructure Contract: Secured a RM44.6 million project for Sime Darby Property’s Elmina West development.
- Project Scope: Roads, drainage, water reticulation, and telecommunications infrastructure.
- Unbilled Order Book: Now totals RM321.6 million.
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