MONEY MASTER

 French luxury powerhouse  Kering SA , the owner of  Gucci , is close to finalizing the sale of its beauty division to  L’Oréal , according to people familiar with the matter. The deal, reportedly valued at around  US$4 billion (RM16.9 billion) , could be announced as soon as next week. If completed, the acquisition would give  L’Oréal , the world’s largest beauty conglomerate, control of  fragrance house Creed  and rights to develop cosmetics and perfumes for  Kering’s high-end fashion labels  including  Bottega Veneta, Balenciaga, and Alexander McQueen . The move would further strengthen L’Oréal’s dominance in the luxury beauty segment, complementing its existing portfolio that includes brands like Yves Saint Laurent Beauté and Giorgio Armani Beauty. A Strategic Move for Kering The sale represents a significant step for  Kering’s new CEO Luca De Meo , who took office in September. De Meo’s top priority has been to  addre...

Key Takeaway:  Intel announced major executive changes, including the departure of long-time executive  Michelle Johnston Holthaus , as CEO  Lip-Bu Tan  pushes ahead with efforts to streamline operations and revive the struggling chipmaker. Holthaus Departure Michelle Johnston Holthaus , Intel’s products chief, will exit after  30+ years  with the company. Roles held: multiple senior leadership positions, including  interim co-CEO  following Pat Gelsinger’s ouster in 2024. She will stay on as a  strategic adviser  in the transition period. New Appointments Kevork Kechichian  joins as EVP and GM of the  data center group . Background: Former EVP of engineering at  Arm ; prior experience at  NXP Semiconductors  and  Qualcomm . Srinivasan Iyengar  to lead newly formed  central engineering group . Mandate: Build a  custom silicon business  for external customers. Naga Chandrasekaran  exp...

  Headline Numbers Net Profit :  RM45.4m  (+21.1% YoY) Revenue :  RM183.5m  (+10.8% YoY) EPS : Not disclosed, but profit growth supported by all business segments. Dividend : None declared. Key Growth Drivers Property Sales & Development Strong residential & commercial contributions. Conlay Signature Suites : >40% take-up, with solid local & international demand. Preparing  new launches : Senna & Fera Phases 3 & 4 : 68 landed homes on Andaman Island. 3QFY2026 pipeline : 1,080-unit luxury waterfront condos (Andaman Island). Landed homes + retail shoplots (Elmina). Hospitality Division Strong performance, especially in Penang hotels. Boost from  more direct flights  &  Malaysia–China visa waiver (July 2025) , expected to drive tourist arrivals. Investments Positive contribution from investment portfolio alongside property segment. Market Reaction Share Price : 84 sen (↓1.18% / -1 sen) at noon break. Market Cap : RM2.1...

Earnings Snapshot Petronas Gas Bhd (KL:PETGAS)  reported a  2.3% YoY decline in 2QFY2025 net profit  to  RM450.2 million  (22.75 sen per share), weighed down by softer revenue and higher expenses. Revenue:  RM1.59 billion (–3.5% YoY) Net Profit:  RM450.19 million (–2.3% YoY) Dividend:  16 sen/share (RM316.6m), ex-date Sept 12, payable Sept 22 1H25 Performance:  Net profit RM919m (vs. RM926m a year earlier), revenue RM3.18b (–2.5% YoY) Shares were steady at  RM18.96  before the results announcement, valuing the company at  RM37.5 billion . Key Drivers Lower Revenue:  Decline in gas transportation earnings due to tighter regulated margins. Higher Costs:  Expenses linked to  pipeline restoration  after the April Putra Heights explosion. Tariff & Tax Impact:  Restructuring of electricity tariffs and an expanded sales & service tax (SST) expected to further pressure operating margins going forward. O...

A sharp earnings miss and persistent demand weakness have cast a long shadow over Amway Malaysia Holdings Bhd, with analysts turning increasingly cautious as structural headwinds mount.  Earnings Disappointment Raises Red Flags Amway Malaysia’s latest quarterly report delivered a stark message to the market: profitability remains under pressure. For the first half of FY2025, the company reported net income amounting to less than  28% of full-year consensus estimates , missing expectations and prompting  two out of three analysts  to downgrade the stock to a  sell  rating. This marks a continuation of its earnings slide, with  Q2 FY2025 becoming the 10th consecutive quarter  of year-on-year revenue contraction — a clear sign that the company is still grappling with demand erosion. “Sales will likely stay muted due to weak consumer sentiment, especially for premium direct-selling products,” said BIMB Securities, maintaining its bearish stance. ...

  From Silk to Silicon: The New Trade Highway If the original Silk Road carried silk and spices, today’s version deals in  GPUs and generative AI horsepower . And at the heart of this trillion-dollar corridor is  $NVIDIA (NVDA.US) , the $4T behemoth threading its silicon through the geopolitical complexities of  China’s digital walls  and  Saudi Arabia’s data ambitions . This isn’t just about semiconductors — it’s about shaping the AI infrastructure and digital influence of the next decade. China: Demand Is Hot, But So Are the Restrictions The China market remains a delicate balancing act: U.S. export controls (since 2022) have  limited Nvidia’s ability to sell top-end chips , forcing it to  create reduced-spec models  like the  RTX 4090D  and now the  Blackwell B30A . Despite these efforts,  more than $1 billion in Nvidia chips were smuggled  into China, highlighting  unmet demand  and  ineffective enf...

Despite a quiet trading day across Malaysian indices,  Petronas Chemicals Group Bhd (PCHEM)  made headlines with a double-digit rally, emerging as the  top gainer  on the  FBM KLCI . Index Performance FBM KLCI :  1,588.21  (▼  0.13% ) FBM 70 :  16,603.46  (▼  0.64% ) FBM Small Cap :  15,569.33  (▼  0.21% ) FBM Emas Index :  11,782.83  (▼  0.25% ) Key Takeaway : Major indices posted mild losses as investors stayed on the sidelines amid global macro uncertainties. Top Gainers & Losers by Segment FBM KLCI Movers Top Gainer : $PCHEM (5183.MY)$  ▲  12.37%  to  RM4.180 (Strong demand speculation or company-specific catalyst could be in play) Top Loser : $PPB (4065.MY)$  ▼  3.04%  to  RM8.620 FBM 70 Movers Top Gainer : $LCTITAN (5284.MY)$  ▲  9.71%  to  RM0.565 Top Loser : $PMBTECH (7172.MY)$  ▼  4.65%  to  RM1.230   Malay...

Wall Street Momentum Fuels Global Rally US equities extended their winning streak on Wednesday, with the S&P 500 and Nasdaq hitting record highs. The S&P 500 closed at 6,466.58 (+0.32%), while the Nasdaq edged up to 21,713.14 (+0.14%). The Dow Jones gained 1.04% to 44,922.27, nearing its all-time high. The rally was supported by rising expectations of a Federal Reserve rate cut in September, with CME FedWatch tool showing a 100% probability of a reduction. Investors largely anticipate a 0.25% cut, while a smaller portion expects a deeper 0.5% reduction. Bursa Malaysia Extends Gains The FBM KLCI surged 18.70 points (+1.19%) to 1,586.60, marking its seventh consecutive session of gains and reaching a four-month high. The advance was fueled by lower-than-expected US July inflation data (2.7%), which bolstered global risk appetite. Telecommunication counters led the index higher, with defensive, high-dividend plays attracting investors amid a firmer ringgit and rising commodity pri...

Warner Bros Discovery plans to  lay off around 10% of employees  in its motion picture division as part of a major restructuring ahead of the company’s split into two separate entities, according to a source familiar with the matter. Details: Cuts will affect  marketing, distribution, production, and other units . The exact number of employees impacted has not been disclosed. The decision follows a review of the film group’s operations earlier this year. Company Restructure: Warner Bros Discovery will split into two publicly traded companies: Warner Bros:  Will include the film group and HBO Max. Discovery Global:  Will include CNN, TNT, and Discovery+. Business Context: The restructuring aims to shift from a U.S.-centric to a  fully global model  to compete in the streaming era. Warner Bros experienced box office disappointments in 2024 with titles like  Joker: Folie A Deux  and  Furiosa , but rebounded in 2025 with hits including ...

Here’s a recap of notable corporate announcements and updates on Monday, Dec 16: Gamuda Bhd Australian Contract Win : Gamuda’s subsidiary,  DT Infrastructure Pty Ltd , secured a  A$625 million (RM1.8 billion)  engineering, procurement, and construction (EPC) contract for the  585MW Goulburn River Solar Farm  in New South Wales. Work begins in January 2025. Key Scope : Includes civil, structural, and electrical infrastructure development. Winstar Capital Bhd Upcoming Listing : Set to debut on Bursa Malaysia’s ACE Market on Dec 19. Performance : Recorded a  3QFY2024 net profit of RM3.31 million  on RM58.76 million revenue. Business Segments : Aluminium extrusion (57.7% of revenue), building materials, and solar PV system installations. MClean Technologies Bhd Diversification Approved : Shareholders approved a move into  plastic injection moulding  and a private placement. Key Figures : Acquiring the business for RM6.04 million; private placemen...

Genting Bhd: Resorts World Las Vegas, a subsidiary of Genting, appointed industry veteran Jim Murren as chairman and announced Alex Dixon as CEO , effective January 2025, signaling a strategic leadership update. JAKS Resources Bhd: JAKS' subsidiary, MNH Global, plans to raise RM250 million via a medium-term note (MTN) programme to refinance existing financing. KIP REIT: The Employees Provident Fund (EPF) acquired a 6.07% stake in KIP REIT through a private placement, marking its emergence as a substantial shareholder. ITMAX System Bhd: ITMAX entered a joint venture with Aim-Force Sdn Bhd to develop smart parking enforcement solutions via a JV company, Enforcemax, with ITMAX holding a 70% stake. OSK Holdings Bhd: OSK Property expanded its Kedah presence by acquiring 330.53 acres of plantation land in Sungai Petani for RM72 million, aimed at future property developments. Kawan Food Bhd: Kawan Food diversified into IT equipment distribution through a joint venture with sev...

Intel Corp., facing its biggest crisis in decades, has appointed semiconductor veterans Eric Meurice, former CEO of ASML Holding NV, and Steve Sanghi, CEO of Microchip Technology Inc., to its board. The company announced their immediate appointments on Thursday, aiming to inject "experience and operational vigor" into its leadership. Leadership Amid Challenges The board changes come as Intel searches for a new CEO following the departure of Pat Gelsinger earlier this week. Despite the leadership shift, Intel has reaffirmed its commitment to Gelsinger’s strategy of transforming into a major foundry, producing chips for external customers. Industry Expertise Eric Meurice led ASML from 2004 to 2013, turning it into a global leader in semiconductor equipment, including the cutting-edge extreme ultraviolet lithography essential for modern chip production. Steve Sanghi , who recently resumed his CEO role at Microchip Technology to address declining sales, brings extensive experien...

  Deleum Bhd (KL:DELEUM) Acquisition Plans: Acquiring a 70% stake in an Indonesian valve solutions provider to triple its market size in control and pressure relief valves. Expansion Goals: Exploring further acquisitions in Thailand and Vietnam. T7 Global Bhd (KL:T7GLOBAL) Contract Award: Secured a pan-Malaysia maintenance, construction, modification, and commissioning (MCM & HUC) contract (Package B3) from Petrofac. Duration: Five years, with two extension options totaling five more years. NationGate Holdings Bhd (KL:NATGATE) AI Servers Launch: Introduced Malaysia’s first locally manufactured AI servers, targeting clients from start-ups to hyperscale data centers. Partnership: Collaborating with a leading GPU manufacturer as an OEM partner. Dialog Group Bhd (KL:DIALOG) Petronas Partnership: Awarded 100% interest and operator role in the RAJA Cluster small field asset production sharing contract. Scope: Covers development, production, and eventual abandonment of offshor...

Intel’s   $7.86 billion subsidy   from the   US government   comes with significant restrictions on its ability to sell stakes in its chip manufacturing unit,   Intel Foundry , if it becomes an independent entity. The deal is part of a broader   $39 billion US initiative   to boost   domestic chip production , benefiting companies like   Intel   and   Taiwan Semiconductor Manufacturing Co (TSMC) . Key Restrictions on Intel Foundry: Intel must maintain at least  50.1% ownership  if the unit is spun off into a private subsidiary. If  Intel Foundry  goes public, Intel must remain its largest shareholder and cannot sell more than  35% to any single shareholder  without triggering  change-in-control provisions . Any control changes would require  US Department of Commerce approval , as per the terms of the subsidy. Impact on Intel’s Plans: Intel CEO  Pat Gelsinger  announced plans in Sept...