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 ...
Financial Performance & Challenges
- WCE Holdings Bhd (WCEHB) reported a net loss of RM88.56 million in 3QFY2025, compared to RM22.39 million in the same period last year.
- Losses were driven by high interest costs (RM56.17 million) and tax expenses (RM61.91 million), despite strong toll collections.
- EBITDA surged 94% YoY to RM23.9 million, signaling operational profitability.
Toll Collection & Revenue
- Toll revenue more than doubled to RM32.58 million, attributed to higher average daily traffic.
- Overall revenue declined by 52.6% YoY to RM84.24 million due to lower billings from its construction arm after the completion of three more expressway sections.
Expressway Development & Future Outlook
- 7 out of 11 sections of the West Coast Expressway (WCE) are operational, covering 170km across Selangor and Perak.
- The 8th section, linking SKVE and Shah Alam Expressway, opened on Jan 22, 2025.
- Final 3 sections are under construction, with full completion expected to boost revenue and profitability.
- The 233km expressway runs from Banting, Selangor to Taiping, Perak, under a 60-year build-operate-transfer (BOT) concession from 2013.
Shareholding & Market Position
- IJM Corp Bhd holds a 26.65% stake, while Tan Sri Surin Upatkoon owns 26.06%.
- WCE expects full expressway completion to drive long-term revenue growth, eventually outpacing financing costs and leading to sustained profitability.
Summary
- WCE’s net loss widened to RM88.56M due to high interest & tax expenses.
- Toll revenue surged 94% YoY, but construction revenue dropped 52.6%.
- 7 out of 11 WCE sections are operational, with final 3 under construction.
- Company expects profitability once full expressway is completed.
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