MONEY MASTER

Quick Summary Sunway Construction’s FY2025 net profit beat consensus by over 20% Shares climbed to a  new all-time high of RM6.57 Strong  data centre pipeline driving upside momentum 12 out of 15 analysts maintain a  ‘Buy’ recommendation Stock Surges on Strong Earnings Shares of  Sunway Construction Group Bhd  jumped to a record high on Tuesday after delivering  FY2025 earnings more than 20% above market expectations . Intraday high:  RM6.57 (+4%) Market cap:  RM8.6 billion YTD gain (2026): +14% Analysts swiftly raised earnings forecasts and target prices following the results. Data Centres: The Main Growth Engine The builder continues to benefit from Malaysia’s booming  data centre construction wave , driven by demand for: Advanced computing Artificial intelligence infrastructure According to Hong Leong Investment Bank: SunCon targets  RM6 billion in new job wins  this year Ongoing tenders could provide  further upside , espec...

US tariff uncertainty will likely remain a  key market overhang , even after the  Supreme Court of the United States struck down tariffs imposed under the IEEPA, according to Malaysian research houses. The reason? President  Donald Trump  has already reintroduced global tariffs under a different legal channel. What Changed — And What Didn’t After the court ruled against tariffs imposed under the  International Emergency Economic Powers Act (IEEPA) , Trump announced: 10% global tariffs Plan to raise them to  15%  under  Section 122 of the 1974 Trade Act Valid for  150 days , unless Congress approves an extension Key issue: Although legally different,  protectionism remains intact . Public Investment Bank noted Trump is unlikely to retreat, as tariffs are central to his foreign policy strategy. Kenanga Investment Bank added: New tariffs are capped at 15% But US officials suggest tariff revenue levels will remain broadly unchanged Meaning m...

Shares of  Samsung Electronics Co Ltd  surged after a report said the company is set to  begin mass production of next-generation HBM4 memory chips , a critical component in artificial intelligence infrastructure. According to Yonhap News, Samsung plans to  ship HBM4 chips to  NVIDIA Corp  as early as the  third week of February , where the chips will be used in Nvidia’s upcoming  Vera Rubin AI accelerators . The report cited people familiar with the matter. Samsung’s stock climbed as much as  6.4% , extending its strong 2026 rally to nearly  40% year-to-date , as investors welcomed signs the company is  closing the gap with rival  SK hynix Inc , currently Nvidia’s main supplier of high-bandwidth memory. The move comes amid a broader boom in memory prices, driven by  exploding demand from hyperscalers  such as  Amazon.com Inc  and  Alphabet Inc , which are racing to build AI data centres. Prices for som...

Quick Summary Nvidia has halted talks to invest up to US$100 billion in OpenAI , according to WSJ Internal concerns at Nvidia reportedly stalled the deal Partnership may still continue at a  much smaller scale Raises fresh questions about  AI investment sustainability What Happened NVIDIA Corp  has  stopped negotiations  on a planned  US$100 billion investment  in  OpenAI , exposing a potential rift between two of the most influential players in artificial intelligence, the  Wall Street Journal  reported. The talks reportedly  broke down after internal concerns emerged within Nvidia , prompting both sides to rethink the structure of their partnership. From Mega-Deal to Scaled-Back Option The original plan, announced in September via a  letter of intent , envisioned: US$100B investment Construction of  new AI data centres Up to  10 gigawatts of computing power  — roughly equal to  New York City’s peak electri...

Malaysia’s market closed slightly higher as  select blue-chip buying offset global risk-off sentiment , while analysts highlighted  palm oil output as a meaningful contributor to near-term GDP growth  and longer-term economic momentum. Market Snapshot US Market Recap S&P 500 Index : 6,926.6 ( -0.5% ) Dow Jones Industrial Average : 49,149.63 ( -0.1% ) Nasdaq Composite Index : 23,471.75 ( -1.0% ) US equities retreated from recent record highs as  technology and banking stocks weakened , while geopolitical tensions involving Iran and renewed political rhetoric added to investor caution. Bursa Malaysia Performance FTSE Bursa Malaysia KLCI Index :  1,710.91 (+0.16%) Top Gainer:   Petronas Dagangan  (+3.96%) Top Loser:   Gamuda  (-2.04%) USD/MYR:  4.0493 The FBM KLCI edged higher on  late-session buying , maintaining levels above the key 1,710 mark. Key Themes Driving Malaysia’s Outlook Palm Oil Supports GDP Growth CIMB Investment Ban...

Shares of  IJM Corporation Bhd  surged to a  four-month high  after  Sunway Bhd  unveiled a  cash-and-share acquisition proposal worth over RM11 billion , sparking optimism over valuation certainty and long-term strategic upside. What Happened IJM rose 6.9% (19 sen) to RM2.94 , its highest level since August The move values IJM at  RM10.7 billion Sunway shares slipped 2.1%  to RM5.48 following the announcement Under the proposed deal,  every 1,000 IJM shares  will be exchanged for: RM315 in cash 501 new Sunway shares  (valued at RM2,835) The offer values IJM at  RM3.15 per share , made up of  90% Sunway shares and 10% cash . Analysts: “Fair Offer, Acceptable Valuation” Research houses broadly view the voluntary takeover offer (VTO) as  fair and reasonable , recommending shareholders  accept the offer . Key analyst views: Valuation aligned with IJM’s historical forward P/E and near NAV Provides  price ce...

Malaysia’s corporate scene turned active with  a proposed RM11 billion mega-merger , major  data centre investments , and  portfolio rationalisation moves  across construction, energy, tech and utilities. Key Corporate Developments Sunway–IJM Mega Deal Sunway Bhd  plans to acquire  IJM Corp Bhd  in a  cash-and-share deal worth over RM11 billion . Each  1,000 IJM shares :  RM315 cash + 501 Sunway shares Combined entity could rival  Gamuda Bhd  by revenue Land bank GDV:  RM118.1 billion Outstanding construction jobs:  RM13 billion HE Group Secures New Contract HE Group Bhd  won a  RM12.6 million power distribution contract  via its subsidiary Hexatech Engineering. Project duration:  10 months Completion target:  Nov 30, 2026 Awantec Gets Cloud Contract Extension AwanBiru Technology Bhd  received a  six-month extension  to continue managing  Google Cloud services  for the...

 Gamuda Bhd’s share price slid to a  five-month low  on Thursday morning after the company reported a  muted first-quarter performance  for FY2026. Shares Down Nearly 6% As of 10:19am: The stock fell  30 sen (-5.9%)  to  RM4.83 Market value stood at  RM28.5 billion Trading volume hit  15.57 million shares Earnings: Profit Up, Revenue Down Gamuda posted a  5% increase in net profit  for the quarter ended Oct 31, 2025: Net profit:  RM215.13 million (vs RM205.39 million a year earlier) Revenue:  RM3.84 billion (down from RM4.14 billion, -7.2%) The profit growth was driven mainly by: Stronger domestic construction contributions Property development gains in Vietnam Dividend Maintained The group declared an  interim dividend of 5 sen per share , unchanged from the same period last year.

 US President Donald Trump warned that Netflix Inc’s planned  US$72 billion acquisition  of Warner Bros Discovery Inc could pose antitrust issues, adding political uncertainty to one of the largest media deals in history. Speaking at an event at the Kennedy Center, Trump said the combined company’s market share “could be a problem” — comments likely to heighten concerns that US regulators may challenge the merger. “Well, that’s got to go through a process, and we’ll see what happens,” Trump said on Sunday, confirming he recently met Netflix co-CEO Ted Sarandos. The remarks come as the deal faces what is expected to be an extensive review by the Justice Department, which will evaluate whether combining the world’s largest streaming platform with a major Hollywood studio violates competition laws. Prediction market Polymarket saw expectations for the deal’s completion fall sharply — from around  60% to 23%  — following Trump’s comments. Warner Bros shares rose 1% ...

  Key Takeaways Singapore upgrades 2025 GDP forecast to 4% , warns of cooling to 1–3% in 2026 Nvidia reversal slams Wall Street , rate-cut bets collapse STI opens lower  as risk aversion deepens Stocks to watch: Hongkong Land, ComfortDelGro, IREIT Global, Coliwoo Singapore Markets Open Lower Singapore equities started Friday on the back foot, tracking weakness from Wall Street. STI:  4,492.52 (-0.43%) Advancers/Decliners:  18 / 123 Turnover:  S$53.48M  (9:01am) Sentiment remains cautious as traders digest hotter-than-expected US jobs data and a sharp tech-led selloff. Wall Street: Nvidia Faceplants, Jobs Data Kills Rate-Cut Hopes What began as a euphoric tech rally quickly collapsed. Nasdaq  plunged  2.2% S&P 500  dropped  1.6% Dow  lost  0.8% Nvidia surged 5.1% at the open on blowout earnings — then reversed to  -3.2% , dragging the entire AI complex down. The trigger? US payrolls jumped to 119,000 vs 50,000 expected ...

Poultry producer  CAB Cakaran Corp Bhd (KL:CAB)  expects to book its  first earnings from Indonesia as early as next year , as its long-awaited joint venture with Indonesia’s  Salim Group  finally gains momentum. Managing director  Chris Chuah  said the venture — delayed for nearly a decade due to Covid-19 disruptions and political changes — is now on track, with plans to  convert one of Salim’s existing factories  to process  halal poultry products . “Without having to build a new facility, production could start within months,” Chuah told  The Edge . “We also don’t have a demand issue — Salim Group will handle that.” Fast Start, Low Capex Under the first phase of the five-year plan, the partners will invest  US$10 million (RM45 million) , with operations slated to begin by  2Q 2026 . Salim Group — Indonesia’s largest conglomerate and owner of  Indomaret’s 23,000-store network  — will hold  70% , while CAB ...