MONEY MASTER

Key Takeaways No changes expected  for the KLCI in the December review — signalling near-term index stability. Sime Darby remains safely above the removal zone  despite being the lowest-cap name in the benchmark. Westports still falls short of entry , ranking 27th vs. the top-25 requirement for inclusion. IOI Corp passes liquidity tests , removing earlier concerns about potential exclusion. Reserve list  likely to feature Westports, United Plantations and KPJ Healthcare. Review outcome on  Dec 6  may guide passive fund flows and year-end positioning. Malaysia’s benchmark FBM KLCI is expected to remain unchanged in the upcoming December 2025 semi-annual review, with all 30 constituents appearing safe from exclusion, according to RHB Research. Sime Darby Bhd — currently the smallest company in the index — sits at  32nd by market capitalisation , comfortably above the deletion threshold of 36th place. Meanwhile, Westports Holdings Bhd, the largest non-constitu...

Sime Darby Property (SIMEPROP)  is seeking up to  RM3 billion  in bank loans to fund a data centre project in Malaysia that will be leased to  Google , Bloomberg reports. The proposed five-year loan includes a two-year extension option. Cuckoo International (CKI)  posted a  1.83% QoQ dip  in 2QFY2025 net profit to  RM27.35 million , hit by listing expenses and higher impairments. Revenue rose 3.5% to  RM306.67 million , driven by its CUCKOO co-created segment. Keyfield International (KEYFIELD)  saw  2QFY2025 net profit fall 5.26% YoY  to  RM66.36 million  on softer OSV demand and lower charter rates, despite booking  RM25.7 million  from a vessel disposal. Revenue dropped 33.7% to  RM131.97 million . I-Bhd (IBHD)  more than doubled 2QFY2025 net profit to  RM11.45 million , supported by stronger performance across leisure, property development, and property investment. Revenue rose 12% to ...

The U.S. equity rally took a breather on Tuesday, as profit-taking in tech stocks and renewed fiscal policy concerns weighed on sentiment. Meanwhile, Malaysia’s KLCI edged higher, driven by sectoral rotation into property and construction amid local macro tailwinds. U.S. Markets: Tech Weakness Meets Legislative Surprise U.S. stocks delivered a mixed performance, with the  S&P 500  (-0.11%) and  Nasdaq Composite  (-0.82%) both retreating from recent highs, primarily due to weakness in large-cap tech, including Tesla. In contrast, the  Dow Jones  rose +0.91% as investors rotated into industrials, materials, and financials — a move tied closely to expectations of increased fiscal spending. This rotation came after the  U.S. Senate passed President Trump’s controversial tax-and-spending bill , a sweeping $3.3 trillion package that includes significant  tax cuts ,  increased military spending , and  deep cuts to healthcare and food aid . ...

Retain neutral call with target price (TP) of RM7.15 Sime Darby (Sime) has entered into an implementation agreement with Japan Residential Asset Manager, the manager of Saizen REIT to acquire at least 25% of the enlarged Saizen REIT through a reverse takeover (RTO) after the expiry of framework agreement last week. There are some slight changes with regards to the shareholding and agreed prices compared to the previous agreement. The estimated market capitalization of Saizen REIT also revised up from RM900m to RM1.1bn. At this juncture, we maintain our  Neutral  call and  TP (RM 7.15)  pending the completion of recent proposed private placement and more guidance from management on the outlook of its plantation and industrial arms. Salient details of the RTO.  Under the new agreement, Sime indirect wholly-owned subsidiaries, Hasting Deering (Aus) Limited and Austchrome will dispose 20 industrial properties located in Queensland and the Northern Terri...

Maintain Neutral call with target price (TP) of RM7.15 Sime Darby  has proposed an asset disposal and acquisition with I&P Group S/B after finalizing the recent private placement at RM7.45/share, raising RM2.3bn. The first proposal is a disposal of 325.7ha freehold oil palm plantation land in Semenyih for RM428m followed by an acquisition of 768ha freehold oil palm plantation land in Kluang and Batu Pahat as well as a 70mt/hour mill for a combined amount of RM106m. We see good opportunities in unlocking the potential value in both deals, which is a collective effort from the company and its major shareholder. We maintain our  Neutral  call and  TP  of  RM7.15. Salient details of the transactions . Firstly, Sime Darby plans to divest 325ha (805 acres) in Semenyih to Petaling Garden for RM428m or RM12.20 psf. The acquirer is a wholly-owned subsidiary of I&P Group S/B, which in turn is a 54.99%-owned subsidiary of Permodalan Nasional Mal...