KUALA LUMPUR, April 1 (Bernama) -- Bursa Malaysia closed higher on Wednesday, with the key index rising 1.10 per cent, in line with firm gains across regional markets following a strong rally on Wall Street overnight, said an analyst. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the improvement in sentiment was underpinned by easing geopolitical concerns and a decline in oil prices. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increase 18.54 points or 1.10 per cent to 1,708.90 from Tuesday’s close of 1,690.36. The benchmark index opened 25.58 points higher at 1,715.94, marking its intraday high, and hit a low of 1,700.20 during the mid-morning session. The broader market was positive, with gainers leading decliners 780 to 444. A total of 475 counters were unchanged, 926 untraded and 11 suspended.
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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