Tanco Holdings saw its share price collapse 60% in a single day , extending a brutal selloff that erased nearly RM10 billion in market value within days. What Happened Stock plunged 60% to 20 sen (limit-down) Marked 4th consecutive limit-down session Over 205 million shares traded in heavy selling Key point: One of the sharpest collapses in Bursa history after a massive speculative rally. From Boom to Bust Shares had surged 600% since 2024 Market cap peaked at ~RM10 billion (June 3) Now dropped to ~RM1.2 billion This is a classic parabolic rally followed by a rapid unwind. What Triggered the Selloff 1. Insider Trading Activity Raised Concerns Managing director sold shares near peak prices Bought and sold large blocks within days Mixed insider signals often shake investor confidence. 2. Speculative Momentum Faded Earlier rally driven by: Data centre story (50MW project with China Mobile) Market speculation When...
SpaceX is preparing for its IPO with investment-grade credit backing, a rare move for a loss-making company. This could significantly lower borrowing costs and unlock massive funding capacity for its next growth phase.
What Happened
- SpaceX is said to have secured investment-grade ratings from major agencies
- IPO expected to raise ~US$75 billion
- Likely to issue debt shortly after listing
SpaceX is positioning itself to access cheaper, large-scale financing immediately after IPO.
Why This Is Unusual
Typically, investment-grade companies have:
- Stable profits
- Predictable cash flows
But SpaceX:
- Reported US$4.28 billion loss (latest quarter)
- Still received strong credit backing
This breaks traditional credit rules showing how powerful its future revenue visibility is.
What’s Supporting the Credit Strength
Despite losses, SpaceX has massive contracted revenue:
- US$30B deal with Google (cloud services)
- ~US$45B agreement with Anthropic (AI-related services)
These long-term contracts provide strong cash flow visibility, supporting its credit profile.
The Bigger Strategy
SpaceX currently has:
- ~US$29 billion total debt
- US$20 billion bridge loan (due 2027)
Plan:
- Use IPO + new debt issuance
- Refinance expensive debt at lower cost
This is not just fundraising — it’s a full balance sheet optimisation.
Why It Matters for Markets
This signals a major shift:
1. SpaceX Is Becoming a Financial Powerhouse
- Moving beyond a high-growth story
- Into a capital-efficient, scalable platform
2. AI + Space = New Credit Category
- Traditional metrics (profitability) matter less
- Future contracts + strategic importance matter more
SpaceX is creating its own valuation and credit framework.
Key Takeaways
- Investment-grade status lowers funding costs significantly
- Strong contract pipeline offsets current losses
- IPO + debt strategy will reshape its capital structure
- Signals confidence in long-term AI + space monetisation
- Marks a shift toward large-scale institutional capital access
Bottom Line
SpaceX isn’t just going public, it’s upgrading into a global funding engine.
With investment-grade backing, the company g
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