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...

Key Corporate Highlights YTL Power International (KL:YTLPOWR) YTL Power has completed its  first Nvidia-powered AI data centre  in Johor under its YTL AI Cloud initiative. The facility, built in partnership with  Nvidia Corp , is now operational and marks a major step in positioning Malaysia as a regional AI infrastructure hub. Mega Fortris (KL:MEGAFB) OCBC Group  and its affiliate  Lion OCBC Capital Asia I Holdings  have divested their  entire 25.99% indirect stake  in Mega Fortris Global Pte Ltd to  ProWealth Management Holding Ltd , marking the entry of a new strategic investor. CIMB Group Holdings (KL:CIMB) CIMB successfully issued its  first-ever renminbi-denominated “panda bond”  in China, raising  RMB 3 billion (RM1.77 billion)  with a  fixed coupon of 2.18%  — the lowest among Asean issuers. Proceeds will fund cross-border expansion and support its China operations. Sarawak Consolidated Industries (KL:SCI...

A Landmark Tender Attracts Heavyweights and Rising Contenders Malaysia’s first-ever grid-scale battery energy storage system (BESS) tender — known as  MyBeST  — has sparked intense interest, drawing over 20 bidders across more than 30 proposals. The ambitious programme aims to develop  four 100MW/400MWh  battery assets to support solar integration and address peak power demands in Peninsular Malaysia. Heavyweights such as  Tenaga Nasional, YTL Power, and Malakoff  have thrown their hats into the ring, alongside emerging players and EPCC specialists. Notably, some companies submitted multiple bids via subsidiaries or consortiums, underscoring the sector’s lucrative long-term potential. Front Runners: Tenaga’s Track Record and Consortium Advantage Tenaga Nasional Bhd (TNB) is seen as a  likely frontrunner , given its experience with a similar-capacity battery project in Dungun, Terengganu. Meanwhile,  YTL Power and Malakoff-linked entities  bri...

YTL Power's share price has taken a significant hit, sliding  20.49% in just one month  and showing a continued downtrend over the past six months. The recent earnings report, which revealed an  18% YoY decline  in core net profit to RM1.4 billion, has sparked concerns. However, despite these headwinds, local analysts from RHB and MIDF have maintained their  Buy calls , underpinned by long-term growth prospects in data centres and renewable energy. Key YTL Power Performances Winners: Wessex Water:  Benefited from a  12% tariff hike , aiding its earnings recovery. AI Data Centre Expansion:  The 20MW AI-DC project in Kulai is on track for commercialization by July 2025 under a four-year offtake agreement, with  no expected disruptions in AI chip supply . Strugglers: PowerSeraya Unit:  Saw a  28% drop  in contribution due to lower pool and retail prices in Singapore. Telco Division:  Losses widened  2.4 times to RM59.4 m...

The Malaysian stock market ended in the red on  Friday, Dec 20, 2024 , with major indices closing lower. Key Index Performance FBM KLCI :  1591.410  (-0.54%) FBM 70 :  18377.470  (-0.31%) FBM SCAP :  17503.590  (-0.06%) FBM Emas :  12222.940  (-0.44%) FBM KLCI Movers Top Gainer : PPB (4065.MY) : +2.19% to close at  RM12.140 . Top Loser : PETDAG (5681.MY) : -4.23% to end at  RM19.020 . FBM 70 Movers Top Gainer : HEXTECH (5136.MY) : +6.54% to close at  RM1.140 . Top Loser : TOPGLOV (7113.MY) : -5.71% to close at  RM1.320 . Malaysia REITs Movers Top Gainer : IGBREIT (5227.MY) : +3.81% to close at  RM2.180 . Top Loser : AXREIT (5106.MY) : -1.14% to close at  RM1.730 . Most Actively Traded Stock YTL (4677.MY) : Gained  1.18%  to close at  RM2.580 . Recorded a turnover of  RM323.26 million .

RHB Research has revised its earnings forecasts for YTL Power International Bhd for the fiscal years 2025 to 2027, cutting projections by 5% to 6% due to the strengthening ringgit against major currencies such as the US dollar , Singapore dollar , and British pound . These currencies are crucial to PowerSeraya and Wessex Water , which are key contributors to YTL Power's income. As a result, RHB has lowered its target price for YTL Power from RM5.94 to RM5.68 , while maintaining its "buy" call . PowerSeraya and Wessex Water accounted for 68% and 23% of YTL Power's total revenue in FY2024, but their income is expected to be impacted by the stronger ringgit. Additionally, YTL Power's exposure to the US dollar will likely increase with the upcoming commercialization of its artificial intelligence data center (AI-DC) . While colocation services revenue will be in both MYR and USD , AI-DC's costs are expected to be largely in USD. RHB maintained a positi...

YTL Corp Bhd, a prominent integrated infrastructure developer in Malaysia, closed its financial year 2024 (FY2024) on a positive note, despite experiencing a slight dip in net profit for the fourth quarter ended June 30, 2024 (4QFY2024). The company reported a net profit of RM534.48 million for the quarter, a 2.5% decline from RM548.03 million in the same period last year, alongside a 10.2% drop in revenue to RM8.27 billion. Key Takeaways: Q4 Performance Decline : The decrease in YTL Corp's Q4 net profit and revenue was attributed to lower contributions from its construction, cement, and property investment segments. The construction segment saw reduced revenue due to less work completed on projects secured from external parties. The cement and building materials segment also reported lower sales, particularly in its domestic quarry and overseas cement divisions. Additionally, the property investment and development division recorded lower revenue due to the absence of a one-off pr...