MONEY MASTER

Malaysia’s corporate landscape saw a mix of  fundraising activities, renewable energy expansion, IPO enthusiasm and balance sheet restructuring  dominate headlines, reflecting continued investor appetite for growth and defensive sectors despite broader market caution. Tenaga Advances Renewable Energy Push KL: TENAGA  strengthened its renewable energy ambitions after its subsidiary issued  RM1.05 billion in Asean Green SRI Sukuk  to finance a  500MW solar photovoltaic project in Kedah . The issuance highlights increasing institutional support for  green financing  and reinforces Tenaga’s long-term transition towards cleaner energy infrastructure. Investors may view the move positively as ESG-linked investments continue gaining traction across regional markets. Mr DIY Expands Funding Flexibility KL: MRDIY  raised  RM540 million via its maiden bond issuance , with proceeds earmarked for refinancing, working capital and expansion plans. The ...

Renewable energy player  Verdant Solar Holdings Bhd (KL:VERDANT)  surged  19% in its maiden trading session  on the ACE Market of Bursa Malaysia on Wednesday, underscoring strong investor enthusiasm for the solar sector. The company’s shares  opened at 37 sen , above its  IPO price of 31 sen , and climbed as high as  38.5 sen  before stabilizing at  38 sen at 9:10 a.m. , with more than  49 million shares traded  in the opening minutes. Strong Demand Fuels Stellar Debut Verdant’s debut follows a  heavily oversubscribed IPO , where retail investors snapped up shares nearly  40 times over the available amount , reflecting optimism in Malaysia’s accelerating clean energy transition. Managing director  Lim Tzer Haur  highlighted the company’s mission to make solar energy more accessible: “Every step of our mission has been clear — to reduce the burden of electricity bills through world-class solar solutions that enabl...

MN Holdings Bhd (KL:MNHLDG) is emerging as a key beneficiary of Malaysia’s  Budget 2026 renewable energy and grid modernization drive , with analysts expecting strong earnings momentum and further contract wins. Maybank Investment Bank (Maybank IB)  has raised its  target price to RM2.27  — the highest among research houses — while reiterating a  ‘Buy’  rating on the stock. The new target implies  a potential 30% upside  from current levels. According to Maybank IB, Budget 2026’s  green investment incentives  and the government’s renewed focus on  cross-border power infrastructure under the Asean Power Grid  will spur demand for MN Holdings’  substation, cabling, and grid connection works . The engineering services provider has already seen its share price  nearly double over the past year , driven by stronger project billings and optimism around  data centre-linked power infrastructure . MN Holdings currently ho...

Margin Expansion on the Horizon Apex Securities has begun coverage on  Elridge Energy Holdings Bhd (KL:ELRIDGE)  with a  ‘buy’  rating, projecting that the biomass fuel producer’s already strong net margin could rise from  12% in 2024  to nearly  14% by 2027 . The anticipated improvement is driven by a higher proportion of  premium, green-certified biomass products , which command an estimated  15% price premium  over standard palm kernel shells. Strong Sustainability Positioning The brokerage highlighted Elridge’s  key sustainability certifications , which provide strong access to markets with strict compliance requirements, particularly Japan — a major buyer with robust demand for certified biomass. Elridge’s expansion plans in Malaysia are expected to position it well to capture this growth. Financial Performance and Valuation Elridge has maintained an average  net profit margin of 12%  over the past four quarters, outp...

China Suntien Green Energy has been a  five-year stock market darling , returning a stunning  +189%  to long-term shareholders. But behind the impressive share price rally, a key metric is raising red flags. Return on Capital Employed (ROCE): A Closer Look ROCE is a valuable measure that tells us  how effectively a company reinvests its profits . Ideally, we want to see companies not only reinvesting — but doing so at  increasing rates of return . Unfortunately,  that’s not what’s happening here . ROCE = 6.0% , based on EBIT of CN¥3.8B and capital employed of CN¥64B. Down from 7.8% five years ago. That’s a  declining trend , and while 6% is close to the industry average, it’s  not compelling  — especially in the high-growth world of green energy. Capital Is Going In, But Not Much Is Coming Out Suntien  is  increasing its capital base — but  sales have barely budged  over the past 12 months. This might mean: Management is i...

Data centers surge, grid supply stalls, and energy prices skyrocket in the PJM region Key Takeaways: PJM Interconnection , the  largest US power grid  covering  13 states  and  67 million customers , is  under immense strain  due to the explosive power demands of  AI data centers  and  chatbots . Electricity bills in some parts of PJM’s territory are expected to rise  over 20% this summer . PJM’s  capacity auction prices have soared 800% , raising concerns among state leaders and prompting political threats to  exit the grid . Power Crunch Reality: PJM projects  32 GW of new demand  by 2030, mostly from  data centers , but new supply is  not being built fast enough . Over the past decade, PJM lost a  net 5.6 GW in capacity  while demand keeps rising. Connection delays, project opposition, and regulatory backlog have  slowed renewable and traditional plant construction .  Fallout and ...

Xinyi Solar Holdings Ltd (968.HK), a key player in the renewable energy sector, has caught the market’s attention with bullish technical signals and solid fundamentals. According to Bloomberg’s consensus, the stock has a  target price of HKD 3.05 , representing a  10.5% upside  from its current price of  HKD 2.76 . Technical Outlook: Breakout Confirmed, MACD Bullish Crossover in Place Xinyi Solar has broken out of a prolonged consolidation range with increasing volume and positive momentum. Both the 20-day and 50-day EMAs are narrowing, hinting at a potential bullish crossover. Additionally, the MACD has crossed above the signal line, reinforcing a short-term upward momentum. Key Support & Resistance Levels: Resistance: R1 = 2.90, R2 = 3.20 Support: S1 = 2.54, S2 = 2.45 Fundamental Strength: Long-Term Growth with Steady Dividends As a global manufacturer of solar glass and renewable energy components, Xinyi Solar continues to demonstrate long-term growth potentia...

  Stock Performance Pekat Group Bhd (KL:PEKAT) surged 4% to RM1.22 , marking a  new all-time high  since its listing nearly  four years ago . The stock later settled at  RM1.21 , with over  1.5 million shares traded . At its latest price,  Pekat's market capitalization stands at RM779 million . Catalysts for the Rally Better-than-expected quarterly earnings , reflecting  strong demand in the solar energy sector . Secured a new contract , boosting investor confidence in the company’s growth prospects. Market Sentiment Investors are  bullish on renewable energy stocks , with  solar installation projects gaining traction . Pekat's continued expansion  in the solar industry supports  long-term growth potential . Summary: Pekat Group stock hit a new record high , climbing  4% to RM1.22 . Strong earnings and a new contract win fueled the rally. Investor confidence in renewable energy remains strong.

Singapore’s Budget 2025 delivers a balanced fiscal outlook with a  SGD 6.8bn surplus  (0.9% of GDP), buoyed by a robust Net Investment Returns Contribution (NIRC) of 3.6% of GDP. Despite significant spending priorities, the government’s measures are set to stimulate consumer spending, technology innovation, and renewable energy initiatives. DBS has identified six key takeaways that highlight which segments are likely to benefit and which may face limited impact. Key Budget Highlights Winners: Grocers & Retail Malls: The SG60 package, CDC vouchers, and other handouts are estimated to provide  SGD 1.1bn in grocery support . DBS projects that a total of  SGD 1.7bn in CDC/SG60 vouchers  will boost supermarket sales and retail mall performance—driving a significant shift from cash to vouchers. Technology & Semiconductor Sectors: A  SGD 3bn top-up  to the National Productivity Fund, alongside a  SGD 1bn semiconductor R&D fabrication facility...

VentureTECH Sdn Bhd and MTC Orec Sdn Bhd have announced a strategic partnership aimed at accelerating the development of biomethane plants across Malaysia, a move that aligns with the nation’s renewable energy and sustainability goals. In a joint statement, the companies disclosed that VentureTECH’s investment will fund the establishment of biomethane facilities in  Peninsular Malaysia’s northern and east coast regions . The collaboration will also include a project with a leading oil and gas player, slated to launch next year. This partnership is expected to advance Malaysia’s renewable energy aspirations, reduce carbon emissions, and foster sustainable growth while creating significant socio-economic opportunities. Driving Renewable Energy Innovation Ahmad Redzuan Sidek , CEO of VentureTECH, emphasized the company’s commitment to environmentally and economically sustainable investments: “MTC Orec’s expertise in bioenergy and its alignment with Malaysia’s renewable energy goals ma...

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...

Australia is poised to meet its ambitious   emissions reduction targets   by   2030 , overcoming earlier challenges in its   renewable energy rollout . The government projects a   42.6% reduction   in emissions from   2005 levels , a dramatic improvement from the   32% forecast   just two years ago, according to the   Department of Climate Change, Energy, Environment, and Water . The current policy settings also place Australia’s overall  emissions budget  from  2021 to 2030  about  3% below target . This progress aligns with the  Paris Agreement’s  global push for enhanced  climate action . By  February next year , Australia must present its updated  2035 emissions targets , but  Minister for Climate Change and Energy Chris Bowen  has yet to announce a timeline. With a  national election looming  in  May 2025 ,  climate policy  is expected to become a m...

Key Takeaway: Chinese renewable-energy firms Sungrow Power Supply Co and JinkoSolar Holding Co plan GDR listings in Frankfurt , marking a strategic shift to Europe as they seek to raise capital and expand international profiles. Chinese companies are increasingly viewing Germany as a prime fundraising location , aiming to boost global depositary receipt (GDR) listings. Renewable-energy firms Sungrow and JinkoSolar are preparing substantial Frankfurt listings, with Sungrow targeting 4.88 billion yuan and JinkoSolar planning a 4.5 billion yuan offering through a Shanghai-listed unit. The China Securities Regulatory Commission (CSRC) supports expanding China-Europe financial ties, as indicated by a recent memorandum of understanding signed on Nov 6 with German exchanges. Analysts see this as a timely move, especially as Chinese firms explore alternative fundraising routes amid US-China trade tensions . Although Chinese GDR listings gained traction in Switzerland before regulatory del...

China’s copper production is expanding rapidly, now expected to supply half of the world’s refined copper this year . This rapid growth in capacity is affecting profitability worldwide and could threaten the viability of plants from Chile to Europe . China, the world's largest copper consumer , has been on a construction spree, adding smelters to secure critical materials for the energy transition . However, this oversupply is creating fierce competition for raw materials, slashing margins across the global industry . Calls to limit China’s output and slow down new smelter construction have gone unheeded. If the expansion continues , copper refining could increasingly shift to China, raising concerns among western governments about China’s control over strategic resources . The issue will take center stage at Asia’s largest copper industry gathering in Shanghai this week . With more smelter capacity than global mine production, miners now hold negotiating power, which could reduc...

Shares of Waaree Energies Ltd. , India’s largest solar panel maker, surged nearly 75% on their first day of trading, following a highly successful $514 million initial public offering (IPO) . This strong debut has revitalized optimism in India's IPO market, especially after Hyundai Motor India Ltd.'s disappointing listing last week. The stock climbed to 2,624.40 rupees from its issue price of 1,503 rupees , with the IPO drawing significant interest, being oversubscribed more than 70 times . Major investors like Goldman Sachs, BlackRock, and Morgan Stanley participated in the offering. The successful debut reflects growing interest in India’s renewable energy sector , which has seen significant investment due to the government's push to expand renewable energy production . Waaree’s strong presence in the solar sector value chain positions it well for future growth, according to analysts like Nitin Mangal from Trudence Capital Advisors. Waaree's performance contrasts...