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KLCI Slides as Profit-Taking Hits Blue Chips, Ringgit Holds Firm

Malaysia’s benchmark index retreated as  profit-taking in key heavyweights  weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI :  1,684.93 (-0.83%) FBM Mid 70:  -0.00% (flat) FBM Small Cap:  -0.23% FBM ACE:  +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume:  3.54 billion shares Total value:  RM4.19 billion Gainers:  456 Losers:  678 Unchanged:  550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY)   +1.54% Petronas Gas (6033.MY)   +1.18% Sunway (5211.MY)   +1.15% Losers Hong Leong Bank (5819.MY)   -3.29% Maybank (1155.MY)   -3.02% CIMB (1023.MY)   -2.47% Banking sector weakness was the main ...
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Key Corporate Updates from Malaysia

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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