MONEY MASTER

Market at a Glance U.S. stocks closed mixed , with tech under pressure while financials advanced. Bursa Malaysia fell for a third straight session. Malaysia’s PPI dropped 2.9% YoY , dragged by mining weakness. Maybank posted stronger earnings and declared a 33 sen dividend. Wall Street Recap Dow Jones Industrial Average  rose 0.03% to 49,499.20 S&P 500 Index  fell 0.54% to 6,908.86 Nasdaq Composite  slid 1.18% to 22,878.38 Technology and communication services led losses, while financials gained 1.3%. Major banks including  JPMorgan Chase ,  Bank of America  and  Wells Fargo  supported the sector’s rise. Despite recent AI-related concerns, the software & services segment rebounded, with  Salesforce  jumping 4%. Key Point: U.S. financial stocks outperformed as tech names faced renewed pressure. Bursa Malaysia Snapshot FTSE Bursa Malaysia KLCI  closed at 1,740.94 (-0.39%) Top Gainer:   Sunway Berhad  (+1.88%) Top Los...

Genting Bhd – Plans RM6.7 Billion Buyout of Genting Malaysia Genting Bhd (KL:GENTING) has proposed to  privatise and delist Genting Malaysia Bhd (KL:GENM)  through a  RM6.7 billion cash offer  at  RM2.35 per share , representing a 10% premium to its last traded price. The buyout is conditional on increasing Genting’s stake above 50% from its current 49.36%. If successful, it would mark Genting Malaysia’s  exit from Bursa Malaysia after nearly four decades. The move coincides with Genting Malaysia’s bid for a  US$5.5 billion casino licence in New York , with a decision expected by  Dec 1  and licence awards by  Dec 31 . Malakoff Corp – Secures Turbine Supply from Mitsubishi Power Malakoff Corp Bhd (KL:MALAKOF) has signed a  reservation agreement  with  Mitsubishi Power  for  two M701JAC gas turbines  to support its planned  1,400MW gas-fired power plant  in southern Peninsular Malaysia. The agreemen...

Key Takeaways: Funds from operations-to-debt ratio  forecast at  22%-24% through 2026 , down from 23.5% in 2024. Weaker-than-expected 1H performance dragged by  Singapore and Las Vegas operations . New York casino licence bid  (US$5.5b Queens project) a key  event risk , with outcome expected  by Dec 1, 2025 . Sluggish Operations Pressure Rating Buffer S&P Global Ratings flagged that  Genting Bhd’s weaker-than-expected performance  in the first half of 2025 is narrowing its credit buffer. The ratings agency projects the group’s  funds from operations-to-debt ratio  to stay within  22%-24% through 2026 , compared with  23.5% in 2024 . Operational softness came mainly from Genting’s  Singapore and Las Vegas properties , where both earnings and profitability lagged expectations. Singapore and Las Vegas Headwinds In Singapore, Genting’s operating profit was affected by: Higher costs  linked to ongoing brownfield const...

Higher Finance Costs, Weaker Revenue Impact Earnings Genting Bhd (KL:GENTING) reported a net loss of RM169.39 million for 4QFY2024 , reversing from a  RM150.99 million profit a year earlier . The group's  first quarterly loss since 4QFY2022  was driven by  higher finance costs, net impairment losses, and increased losses from joint ventures and associates . Quarterly revenue fell 5.3%  to  RM6.88 billion  due to  weaker performance in the leisure and hospitality segment , exacerbated by the  strengthening of the ringgit against key foreign currencies . Dividend Declared at Lower Payout Final dividend of 5 sen per share , down from  9 sen last year , bringing  total FY2024 dividend to 11 sen per share , compared to  15 sen in FY2023 . Financial Performance Breakdown Adjusted EBITDA down 27% YoY  to  RM1.68 billion  from  RM2.29 billion . Finance costs rose 35.1%  to  RM513.36 million . Impairment lo...