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Quick Summary 4QFY2025 net profit rose 5.7% YoY to RM2.68b Declared  33 sen dividend FY2025 net profit climbed  4.2% to RM10.51b CET1 ratio improved to  15.1% , signalling strong capital buffer Stronger Quarter Backed by Higher Interest Income Malaysia’s largest lender,  Malayan Banking Bhd  (Maybank) , posted a solid finish to 2025, driven by lower provisions and higher interest income. 4QFY2025 Highlights Net profit:  RM2.68 billion ( +5.7% YoY ) Net interest income:  RM5.8 billion ( +7.6% YoY ) Other operating income:  RM1.5 billion ( -23% YoY ) Dividend declared:   33 sen per share Lower impairment charges helped lift bottom-line growth despite weaker fee and trading income. Full-Year FY2025 Performance Net profit:  RM10.51 billion ( +4.2% YoY ) Net interest income:  RM20.23 billion ( +2.7% YoY ) Non-interest income:  RM10.15 billion ( +2.7% YoY ) Operating expenses:  RM14.84 billion ( +2.6% YoY ) Cost discipline impro...

Taiwan Semiconductor Manufacturing Company  (TSMC)  will report its  Q4 earnings on January 15 , taking center stage as the most critical “pick-and-shovel” play in the global AI boom. With AI chip demand accelerating and expectations running high, investors are less focused on headline numbers and more on  forward guidance, capacity expansion, and long-term AI visibility . Options Market: Caution Ahead of Earnings The derivatives market is signalling  defensive positioning  into the print: Put/Call ratio:   1.64  on open interest of 1.76 million contracts Implied volatility:   43.33% , well above historical volatility of 31.25% IV Percentile:   67% , indicating options are moderately expensive This suggests institutions are  hedging against downside risk , even if results come in strong — a sign that expectations for guidance may be difficult to exceed. Q4 Financial Expectations (Consensus) Revenue US$32.38bn  (+20% YoY, -2% Qo...

PepsiCo Inc has reached an agreement with activist investor  Elliott Investment Management  that includes plans to slash its US product lineup by  20%  and step up its focus on affordability, while also preparing layoffs as part of a broader cost-cutting push. The deal marks an early resolution between PepsiCo and Elliott, which built a roughly  US$4 billion stake  earlier this year and publicly pushed for changes, arguing the company’s sprawling brand portfolio and weakening beverage share were holding back performance. PepsiCo shares were little changed in late trading. The stock is down  4.2%  year-to-date through Monday, compared with a  16% gain  for the S&P 500. Elliott Pushes Simplification and Margin Improvement Marc Steinberg, partner at Elliott, said the agreed-upon plan “will drive greater revenue and profit growth.” Elliott will continue to engage with PepsiCo but did not secure a board seat as part of the agreement. Peps...

Kelington Group Bhd (KL:KGB)  is poised to post  record quarterly earnings  for the July–September period, backed by stronger margins and robust contributions from its  advanced engineering division , according to  RHB Research . RHB estimates  core net profit  for the quarter could reach between  RM35 million and RM40 million , buoyed by higher revenue from  Singapore and Malaysia . The company is expected to announce its results on  Nov 24 , followed by an investor call the next day. “We see the industrial gas business supported by steady demand, albeit weaker year-on-year, due to softer specialty gas sales and project revenue,” RHB said in a note, maintaining its  ‘Buy’ call  on the stock. Momentum and Market View Kelington — a key  engineering and industrial gas provider  — has been among Bursa Malaysia’s standout performers in 2025, with its shares  rising over 50% year to date , defying broader market weakn...

Amazon (AMZN.US) will release its  Q3 FY2025 earnings  after the market closes on  October 30 , with investors watching closely to see if the company’s  cloud division (AWS)  can recover momentum amid slowing growth and rising capital expenditures. Financial Expectations Revenue:  Estimated at  $177.72 billion , up  11.9% YoY . EPS:  Expected at  $1.56 , up  9.13% YoY . Operating Profit:  Forecast at  $19.7 billion , within the company’s guidance of  $15.5–20.5 billion . Amazon guided for  Q3 revenue between $174–179.5 billion , implying YoY growth of  9.5–13% , signaling a  moderate slowdown  compared with Q2’s momentum. 1. Global Retail Growth Amazon’s  retail segment  continues to benefit from the  structural shift to e-commerce . Within this business,  advertising  and  Prime memberships  are key profit drivers. Advertising  has consistently grown faster ...

Global chipmaker  Intel (INTC.US)  will release its  third-quarter 2025 earnings  after the market closes on Thursday (ET). This will be the first financial update since Intel secured  strategic investments from SoftBank, Nvidia, and the U.S. government , drawing intense attention from both investors and competitors. Options Market Signals: Bullish but Costly Bets Intel’s options market suggests traders are positioning for a  highly volatile upside move . Put/Call Ratio:  0.67 — indicating strong bullish sentiment, as call options vastly outnumber puts. Implied Volatility (IV):  78.03%, ranking in the  94th percentile  — signaling extremely expensive options pricing. This combination shows that while traders expect a positive surprise, the  bar for Intel to impress is exceptionally high . Core Financial Expectations Revenue:  US$13.14 billion (▼1% YoY, ▲2% QoQ), slightly above Intel’s guidance midpoint. Gross Margin:  35.6...

  What happened: Citi says  Pop Mart’s  sales outlook has improved on the back of stronger IP performance. 3Q revenue beat expectations, driven by  faster sell-through of new products globally  and  retailer restocking . Momentum should carry into the festive season, though growth may  moderate on a higher base . Citi’s call: Rating:  Buy (reiterated) Target price:   HK$415  (from HK$398) Rationale:  Continued investment in  products, content, and collaborations  is deepening IP influence (e.g., Labubu), supporting both China and overseas demand. Stock check: Last:  HK$262  (up ~4.6% intraday) Implied upside to TP:  ~ 58%  (HK$415 vs HK$262) Why it matters (quick take): IP strength = pricing power + repeat purchases.  Pop Mart’s flywheel (new drops → scarcity → community buzz) looks intact. Restocking suggests channel confidence  and cleaner inventories heading into holidays. Overseas traction...

Gamuda Bhd (KL:GAMUDA) could lift earnings by another 40% in FY2026 after delivering record results this year, analysts said, citing strong job flows and a recovery in property sales. Market Snapshot FY2026 earnings  forecast: RM1.40b net profit (Bloomberg consensus). Analyst ratings : 19 Buy, 2 Hold, 0 Sell. Average target price : RM6.39 (vs current RM5.58). Share performance : Up ~20% year-to-date, despite pulling back from record highs. FY2026 property sales target : RM5.5b, backed by >RM2b launches in Malaysia and quick projects in Vietnam. Growth Drivers Ahead Projects in the pipeline : Data-centre tenders, Marinus Link conversion, Penang LRT packages, and Australian renewable-energy works expected in the coming months. 2026 outlook : Analysts expect an “eventful year” with high certainty of project conversions. Property Division Recovery FY2025 property sales came in below Gamuda’s RM5b target. RHB Research sees FY2026 sales target of RM5.5b as achievable, supported by dom...

  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...

  Maybank (KL:MAYBANK) Net Profit : RM2.63b (+4% YoY) EPS : 21.75 sen NII : +1.1% YoY NOII : Higher, supported by fees and trading Provisions : Higher bad debt charges, but offset by income growth Dividend : 30 sen  first interim cash dividend  (dates TBD) Guidance : Reaffirmed FY2025 ROE target ≥ 11.3%  Takeaway : Resilient earnings with strong dividend payout. Higher provisions are a watchpoint, but Maybank remains attractive for income-focused investors. Public Bank (KL:PBBANK) Net Profit : RM1.76b (-1% YoY) NII : +5.1% YoY NOII : +15% YoY Drag Factor : Lower non-taxable income pressured bottom line Asset Quality : Remains strong with prudent loan loss reserves Dividend : 10.5 sen  first interim dividend , ex-date Sept 12, payable Sept 24 Takeaway : Profit dipped slightly, but underlying income growth is strong. Public Bank maintains its hallmark of  asset quality discipline and steady dividends , though its yield trails Maybank’s more generous payout. ...

Earnings Snapshot Malayan Banking Bhd (KL:MAYBANK), Malaysia’s largest lender by assets, reported a  net profit of RM2.63 billion  for 2QFY2025, up  4% year-on-year  from RM2.53 billion. Earnings per share stood at  21.75 sen . Net Interest Income (NII) : +1.1% YoY, reflecting stable loan growth and net interest margin support. Non-Interest Income (NOII) : Rose, providing a boost despite softer trading conditions. Provisions : Higher allowances for bad debts partly offset the income gains. Dividend Declaration Maybank declared a  first interim cash dividend of 30 sen per share , with entitlement and payment dates to be announced later. This reflects the bank’s continued focus on shareholder returns. Guidance Management reiterated its  FY2025 Return on Equity (ROE) target of at least 11.3% , signaling confidence in sustaining profitability despite elevated provisions and a cautious economic outlook. Investment Takeaways Resilient Core Business : Loan gr...

Haidilao International Holding Ltd (6862.HK)  shares fell as much as  6.5% in Hong Kong , the sharpest intraday drop since April, after China’s largest hotpot chain reported a second straight half-year revenue decline. Earnings Snapshot Revenue : ¥20.7B (▼3.7% YoY), in line with consensus. Net Income : ¥1.76B (▼14% YoY). Store Count : Self-operated restaurants fell to  1,322  from 1,343 a year earlier as the group continued to shut underperforming outlets. Table Turnover : Dropped  9.5% YoY , underscoring demand pressure. Key Headwinds Weak Macro & Frugal Consumers : Slowing economic growth in China is weighing on discretionary spending, particularly at premium chains like Haidilao. Price War in Food Delivery : Intense promotions — ¥1 drinks, free delivery, flash discounts — are pulling traffic away from dine-in restaurants. Competition in Catering : Increased rivalry across China’s F&B sector continues to erode Haidilao’s traffic base. Street Commentary...

All eyes turn to  Nvidia Corp (NVDA.US)  this week as the AI-chip leader reports  fiscal Q2 2026 earnings on Aug 27 after market close . With a $4 trillion market capitalization, Nvidia has become the bellwether of the AI trade, and its results could set the tone for both the semiconductor sector and broader equity markets. Core Financial Expectations Revenue (Guidance):  $45b (+50% YoY, +2% QoQ) Consensus:  $46.1b Gross Margin (GAAP):  71.8% (↓3.3pp YoY, ↑11.3pp QoQ) Gross Margin (Non-GAAP):  72% (↓3.7pp YoY, ↑0.7pp QoQ) Net Income (GAAP):  $22.6b (+36% YoY, +20% QoQ) Net Income (Non-GAAP):  $24b (+42% YoY, +21% QoQ) Consensus:  $24.5b Investor takeaway:  The bar is set high — even a small revenue or margin miss could spark volatility given Nvidia’s premium valuation. Key Watchpoints for Investors 1. China & the H20 Uncertainty Background:  Q1 results were marred by a $4.5b charge on H20 chips after the U.S. banned shipmen...

Amazon reported stronger-than-expected Q2 revenue but disappointed investors with weak AWS growth and soft guidance, triggering a post-market sell-off of over 6%. Key Financials: Revenue:  $167.7B (+13% YoY) vs. $162.15B est. Operating Profit:  $19.2B vs. $17B est. Net Profit:  $18.2B vs. $13.5B YoY EPS:  $1.68 vs. $1.33 est. Free Cash Flow:  $18.18B (down sharply from $52.97B YoY) AWS Segment: Mediocre Growth AWS revenue rose  17.5% YoY , only slightly above expectations and marking six straight quarters without meaningful acceleration. Operating margin contracted 2.6% YoY, with AWS profits nearly 7% below forecasts due to a surge in R&D expenses (+22% YoY). The result highlights AWS’s struggle to keep pace with Microsoft Azure’s strong growth trajectory. Retail & Ads: Bright Spot Retail revenue grew  12% YoY , accelerating from 7% in Q1, with strong contributions from advertising (+23% YoY), which drove most of the segment’s profitability. Bo...

China State Construction Engineering (SHSE:601668) has seen its stock climb 43% over the past five years, but its financials suggest investors should tread carefully. Key Metric: ROCE Falling Return on Capital Employed (ROCE):  6.8%, based on the latest 12 months. Down from  9.6% five years ago , signaling a decline in profitability from its capital investments. ROCE is roughly in line with the construction industry average of  5.7% , but low in absolute terms. Capital Use vs. Returns The company has been deploying more capital, yet sales haven’t grown significantly in the last year. This suggests ongoing long-term investments that may take time to yield results. High Liabilities Add Risk Current liabilities:  55% of total assets. Heavy reliance on short-term creditors raises operational risk. A lower ratio would indicate stronger financial stability. Takeaway While China State Construction Engineering is reinvesting in its business, declining returns and high liabil...

Shares of  Singapore Airlines (SIA)  plunged more than  8%  after the carrier reported a  59% decline in net profit  for the first quarter of its 2025/2026 financial year, marking its steepest intra-day fall since August 2024. Key Financials Net Profit:  S$186 million (US$144 million), down from last year. Operating Profit:  S$405 million, a  13.8% drop YoY . Stock Performance:  Currently trading  7.11% lower , after falling over 8% earlier in the day. What Caused the Drop? Lower interest income  due to reduced cash balances and interest rate cuts. Losses from associates , including a negative contribution from Air India. In December 2024, SIA began equity accounting for Air India following the full merger of Vistara, taking a 25.1% stake. Bright Spot Despite the earnings hit, SIA noted that  demand for air travel and cargo remains strong  even amid geopolitical uncertainties. Bottom Line The steep profit decline high...

Bank of Tianjin Co., Ltd. (HKG:1578) delivered a  42% share price gain  over the past year, significantly outperforming its earnings per share (EPS) growth of just  1.2% . The total shareholder return (TSR), which includes dividends, was even higher at  54% , suggesting strong investor sentiment despite modest underlying profit growth. Market Sentiment Boost The sharp rise in the stock compared to earnings growth indicates the market now places a higher value on the company than a year ago. Over three years, the share price is up  20% , showing steady but slower long-term performance. Dividends Matter TSR outpacing share price return highlights the role of dividends in boosting investor gains. Bank of Tianjin’s consistent payouts contributed significantly to the overall return. CEO Pay and Fundamentals The company’s CEO earns less than peers at similar-sized banks, which some investors view positively. However, the key question remains whether the bank can accel...