KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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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