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Quick Summary 1HFY2026 core net profit up 21% YoY to RM795m Plantation segment remains the key earnings driver (79% of PBT) 2HFY2026 profit may soften due to  lower FFB output and weaker CPO prices CIMB maintains  ‘Buy’ with TP RM4.51 , citing M&A potential Earnings Momentum Still Intact Shares of  IOI Corporation Bhd  remain supported by resilient earnings, although analysts caution that softer crude palm oil (CPO) prices may cap further upside. For  2QFY2026 : Core net profit:  RM405m +4% QoQ +3% YoY 1HFY2026 core net profit:  RM795m +21% YoY 53% of CIMB’s full-year forecast Reported net profit for 1HFY2026 came in higher at  RM898m , boosted by: RM110.7m FX gains Fair value gains on biological assets Plantation Segment Drives Performance The plantation division contributed  79% of pre-tax profit , with: FFB output:  +12.3% QoQ to ~874,000 tonnes Unit cost:  RM2,361 per tonne Average CPO price:  RM4,224 per tonne Palm ker...

Binastra Corp Bhd (KL:BNASTRA) is back in the spotlight after posting stronger earnings, with its share price rallying to within a whisker of its all-time high. The counter gained  3% to RM2.00  on Friday — only one sen below the RM2.01 peak recorded earlier this week. That brings year-to-date gains to  16% , valuing the construction player at  RM2.18 billion .  Key Earnings Takeaways Net profit for the six months ended July 31, 2025 jumped  25% YoY . Earnings now account for about  40% of consensus FY25 forecasts . Analysts believe the gap will be closed as project billings accelerate.  Analyst Call: More to Come Mercury Securities is upbeat: “We anticipate stronger earnings delivery in the coming quarters, supported by higher progress billings from the existing orderbook and the commencement of newly secured projects.” Why Investors Are Watching Contract wins and project rollouts continue to underpin sentiment. Stronger earnings visibility posit...

  Key Takeaways: Nvidia will release  Rubin CPX chips  by late 2026, built on its next-generation Rubin architecture, succeeding Blackwell. The chips target  data-heavy AI applications  including  video generation  and  AI-assisted software coding . Nvidia projects that  US$100 million invested in Rubin CPX systems  could generate  US$5 billion in token-related revenue . Market Reaction Nvidia’s announcement highlights its strategy to expand beyond text and image AI into more complex, compute-intensive use cases. The integration of video decoding, encoding, and inference into a single processor underlines the company’s ambition to remain the standard-bearer in AI infrastructure. The news reinforces Nvidia’s long-term roadmap at a time when Wall Street is increasingly focused on monetisation of massive AI hardware investments. Investment Implications Growth opportunity:  Rubin CPX could unlock new revenue streams in generative v...

Nvidia delivered another revenue beat and forecast stronger sales ahead, yet its stock slipped as investors fixated on weakness in China and hints of more cautious cloud spending. Q3 Outlook: Higher but Not Enough Guidance:  Revenue of  US$54B ±2% , topping Wall Street’s US$53.14B consensus (LSEG). Reaction:  Shares fell  2.6% after hours , erasing  US$110B in market cap  — more than Intel’s entire valuation. Why the sell-off:  Analysts noted the forecast excluded China, leaving upside only if shipments resume. China Question Mark Nvidia halted shipments of its  H20 chips  to China amid US trade restrictions. A deal with the Trump administration requires Nvidia to pay  15% commission on China sales  in exchange for eased restrictions, though Beijing has cautioned local firms against imports. Nvidia had earlier warned curbs could cost  US$8B in July-quarter sales . Q2 Performance Highlights Revenue:  US$46.74B (vs. US$46.06...

Shares of  Padini Holdings Bhd (KL:PADINI)  tumbled on Thursday after the apparel retailer reported its weakest fourth-quarter earnings since 2009, raising concerns over consumer spending power and rising costs. Steep Earnings Decline 4QFY2025 net profit:  RM6.98 million, down  73.5% YoY  from RM26.31 million. This marks Padini’s  lowest quarterly profit in 16 years . Revenue contracted, driven by weaker same-store sales growth and cautious consumer sentiment. Market Reaction The stock dropped  7.2% (–15 sen) to RM1.93 , its lowest since March 2025. Market value stood at  RM1.9 billion  at the time of writing. Analyst Downgrades and Revisions Kenanga Research Cut FY2026 earnings forecast by  3% . Lowered target price to  RM2.35  (from RM2.45). Maintains  “Outperform” , citing: Value-for-money apparel appeal among budget-conscious consumers. Strengthening MYR could reduce import costs. Strong net cash supports inventory eff...

Shares of Spritzer Bhd (KL:SPRITZER) surged to an all-time high on Thursday after its second-quarter results beat market expectations, prompting upgrades from analysts and boosting confidence in the mineral water bottler’s growth outlook. Strong Earnings Surprise First-half net profit has already reached 57% of consensus full-year estimates. Two of the four research houses covering Spritzer have upgraded their calls, resulting in a unanimous  ‘buy’ recommendation. Analysts cite resilient bottled water demand, driven by: Post-pandemic economic recovery Resumption of tourism flows Heightened consumer focus on health and wellness Stock Performance Spritzer’s share price jumped more than 2% to RM1.79 in early trade, marking a new record high. The stock eased slightly to RM1.76 at 9.30am, giving the group a market value of RM1.1 billion. Year-to-date, the counter has risen 15%, fueled by strong earnings momentum. Analyst Upgrades and Target Prices Public Investment Bank  raised its...

Guan Chong Bhd (KL:GCB) slumped to its lowest level since March 2024, as disappointing second-quarter results triggered heavy selling among investors. Stock Performance Shares fell as much as 9% or nine sen to 92 sen in morning trade. At 11.15am, the counter was last seen at 93 sen. Trading activity was brisk, with more than 11 million shares changing hands — the highest volume in over five months. Market Reaction The sharp drop followed weaker-than-expected earnings that missed analyst forecasts, raising concerns over near-term profitability. Investors are turning cautious as margins face pressure from volatile cocoa prices and softer demand outlook in downstream chocolate products. Outlook While Guan Chong remains a leading regional cocoa grinder, analysts note that sustained earnings recovery will depend on stabilising raw material costs and stronger demand traction from key export markets. For now, sentiment remains under pressure, reflected in the stock’s sharp correction.

Earnings Outlook CIMB Securities projects Telekom Malaysia’s (KL:TM) 2QFY2025 core net profit (CNP) to grow 4%-9% YoY to RM410–RM430 million, driven by net interest cost savings and normalised tax rates. This represents 48%-49% of CIMB’s full-year forecast and is deemed in line with expectations. TM will release results on Aug 29. Revenue Trends Total revenue is expected to remain soft, potentially 0%-4% lower YoY, amid intense fibre broadband competition. Internet revenue (39% of group total) may fall 4%-5% YoY on slower subscriber growth and lower ARPU. TM Global is seen posting a 1%-3% YoY increase, while TM One’s revenue may drop 9%-11% without last year’s MYTV settlement. Operational Highlights CIMB expects lower Unifi acquisition, staff, and other costs to offset higher 5G access fees. Net interest costs are projected to halve YoY to RM25m–RM30m on reduced debt. TM Global’s revenue is set to improve in 2H2025 from subsea cable upgrades and U Mobile 5G fibre backhaul. Valuation CI...

Stock Surge Kelington Group Bhd ( KGB ) shot up nearly  +5% to RM4.39  on Tuesday morning — a  new all-time high  — as  investors cheered news of a potential foothold in Europe . Current price (9:30am) : RM4.34 YTD Gain : ▲24% Market Cap : >RM3B European Breakthrough Kelington received a  letter of intent  from an  existing Malaysian client  for a  semiconductor hook-up project in Dresden, Germany , potentially worth up to  €50 million (RM244M) . Hook-up  refers to the installation of utility and process systems in wafer fabs. RHB Research sees this LOI as a "precursor to a contractual agreement" with work  set to begin immediately . Big Picture: Riding the Chip Boom Kelington is capitalizing on the  EU’s Chips Act , which is driving a boom in semiconductor fabs across Europe.  Major players like  TSMC, Intel , and the  European Semiconductor Manufacturing Consortium  are fueling demand for engi...

Tenaga Nasional Bhd (KL:TENAGA)  just took a sharp hit after Malaysia’s highest court ruled against the national utility in a long-running RM1.25 billion tax dispute. The stock plunged over  5% to RM13.86  in early trade Thursday — its steepest one-day fall in months. What Happened? The  Federal Court sided with the Inland Revenue Board (IRB) , saying Tenaga must pay additional taxes for 2018. The court rejected Tenaga’s claim that it qualifies as a manufacturing business, which would have entitled it to a more favorable tax allowance (Schedule 7A). Instead, it must use Schedule 7B — a less generous category for utilities. The Damage Share Price Drop : -5.07% to RM13.86 (lowest since March) Market Cap Lost : Nearly  RM3.4 billion  wiped out in hours Heavy Trading : Over  8.6 million shares  changed hands before 10am What’s at Stake? This isn’t just about 2018. TNB is contesting  RM6.8 billion in total additional tax assessments  for 2013...

Capital A Bhd   saw its shares drop   7%   to   RM1.01   in early trade on Friday, reducing its market value to   RM4.6 billion , following a   3QFY2024   performance that fell below most analysts' expectations despite being boosted by   forex gains . 3QFY2024 Highlights: Core loss after tax and minority interest (Latmi):   RM143.4 million , bringing  9MFY2024  loss after tax to  RM119.5 million . Results missed  Hong Leong Investment Bank’s (HLIB)  projection of  RM754.9 million Patmi  but aligned with consensus of  RM459 million Patmi . Excluded  exceptional items (EIs)  totaling  RM1.2 billion , primarily due to  RM1.5 billion forex gains , offset by deferred tax losses. Quarter-on-Quarter Performance: Core Latmi worsened from  RM57.6 million  in the previous quarter to  RM143.4 million , driven by: Seasonally weak yields. Higher costs. Losses from  ADE MR...

Shares of   NationGate Holdings Bhd   fell over   11%   to   RM2.09   in early trading Thursday, following weaker-than-expected   3Q2024 results . The company, valued at approximately   RM4.8 billion , saw   30 million shares traded , prompting the suspension of   intraday short selling (IDSS)   for the day. Key Takeaways from 3Q2024 Results: Revenue:  Doubled quarter-on-quarter ( q-o-q ) due to higher  server deliveries , but margins contracted by  1 percentage point  to  6% . Core Net Profit:  Down  18% q-o-q  to  RM22 million , despite a  19% year-on-year (y-o-y) increase . Distortions:  Profit was impacted by one-offs, including: RM18 million  provision for product liabilities RM7 million  product development costs RM20 million  cost of goods revaluation For  9M2024 , core net profit rose  53% y-o-y  to  RM70 million , but results accounted...