1.15

YTL Corp ends FY2024 on positive footing, pays 4.5 sen dividend

theedgemalaysia.com
21 Aug 2024, 06:52 pm


KUALA LUMPUR (Aug 21): Integrated infrastructure developer YTL Corp Bhd's (KL:YTL) net profit for its fourth financial quarter ended June 30, 2024 (4QFY2024) slipped 2.5% to RM534.48 million from RM548.03 million a year earlier on lower revenue.

This resulted in a lower earnings per share of 4.86 sen for 4QFY2024 compared with 5.0 sen in 4QFY2023.

Revenue for the quarter also fell 10.2% to RM8.27 billion from RM9.21 billion in 4QFY2023.

In a filing with Bursa Malaysia on Wednesday, YTL Corp said its construction segment recorded lower revenue in 4QFY2024 due to decrease in work done in respect of construction projects secured from external parties.

The group also saw a decrease in revenue from its cement and building materials segment due to lower sales recorded by its domestic quarry and overseas cement divisions. Additionally, revenue from its property investment and development division was lower primarily due to the absence of a one-off project revenue in 4QFY2024.

Nevertheless, the group declared an interim dividend of 4.5 sen per share for the financial year ended June 30, 2024 (FY2024), payable November 29.

The group ended FY2024 on a positive footing, posting a 95.5% increase in net profit to RM2.14 billion from RM1.1 billion in the previous year, while revenue for FY2024 rose 3.1% to RM30.53 billion from RM29.62 billion in FY2023.

Going forward, YTL Corp said management is proactively taking action to ensure construction work-in-progress is on track and to replenish its order book.

"Cement demand is expected to continue to be driven by civil and non-residential sectors including infrastructure, logistics facilities, data centres and factories. Malaysia’s long-term need for housing and infrastructure due to its young population and high urbanisation rate will also help sustain cement demand.

"While wider economic volatility may persist in light of inflationary pressures and geopolitical uncertainties, the group will continue with its pursuit of efficiencies in operations, logistics and distribution," said YTL Corp.

As for its property investment and development segment, YTL Corp is optimistic of achieving an overall satisfactory performance for FY2025.

"The group expects the performance of its business segments to remain resilient as its major business segments are substantially engaged in essential services, and will continue to closely monitor the related risks and impact on all business segments," it added.

YTL Power's FY2024 net profit up 71%, pays four sen dividend

By Kang Siew Li / theedgemalaysia.com
21 Aug 2024, 07:34 pm


KUALA LUMPUR (Aug 21): YTL Power International Bhd (KL:YTLPOWR) saw its net profit fall 5.6% to RM1.07 billion in its fourth financial quarter ended June 30, 2024 (4QFY2024) from RM1.14 billion a year earlier, on lower contribution from its power generation and investment holding activities business segments.
This resulted in a lower earnings per share of 13.16 sen for 4QFY2024 compared with 14.02 sen for 4QFY2023.

Revenue for the quarter also came in lower at RM6.34 billion, down 10.5% from RM7.09 billion in 4QFY2023.

YTL Power declared a second interim dividend of four sen per share for the financial year ended June 30, 2024 (FY2024), payable on Nov 29. This brings its total dividends declared for FY2024 to seven sen per share.
Nevertheless, the group managed to end FY2024 on a positive footing, posting a net profit of RM3.46 billion, a 70.8% increase from RM2.03 billion in the previous year, on better performance in the power generation segment, which saw better margins, lower interest expenses following loan repayments and strengthening of Singapore dollar against the ringgit.
Revenue grew 2% to RM22.32 billion in FY2024 from RM21.89 billion in FY2023.
On prospects, YTL Power said as power generation is an essential service, electricity demand is expected to remain stable.

"This segment will continue to focus on customer service, operational efficiency and exploring diversification beyond the core business into integrated multi-utilities supply. The group will also be developing a large portion of the Kulai Young Estate into a large-scale solar power facility with a generation capacity of up to 500 megawatts (MW) to co-power a 500MW green data centre park. This is in line with the group’s shift towards investing in more sustainable renewable energy solutions moving forward," it said.

As for its telecommunication segment, YTL Communications expects to extend its 5G services to the rest of the country in tandem with the rollout of Digital National Bhd’s 5G network. "By continuing to offer affordable data plans and offering innovative 5G services, this segment is looking to increase its subscriber base bolstered by partnerships and collaborations," it said.
YTL Power expects the performance of its business segments to remain resilient due to the essential nature of its operations, and will continue to closely monitor the related risks and impact on all business segments.

YTL Power shares closed down 11 sen or 2.85% at RM3.75 on Wednesday, giving it a market capitalisation of RM30.98 billion. The stock has risen 45.9% so far this year.

Interim divvy bro. Final dividend probably 10 sen. Be patient. fren.

Excellent results- congrats to the believers of YTL Power.

Excellent results- congrats to the believers of YTL

S P Setia said the 2Q24 loss of RM101 million primarily stemmed from several factors: a provision related to a five-year rental guarantee for an office building sold to PNB in 2021, resulting in a GBP19 million shortfall due to current market conditions; impairments from discounts on unsold units in Phases 2 and 3C of the BPS project; and accumulated interest costs. However, the group anticipates that future provisions for the office building will be limited, with a target occupancy rate of 80-90% by the end of 2024.

DAP the best Bro.

At RM1.65 per share and based on its enlarged issued share capital of 8.4 billion shares, 99 Speed Mart would have a market capitalisation is RM13.86 billion.
This represents a historical price-to-earnings multiple of 34.7 times, based on its net profit of RM400.2 million or 4.76 sen per share for the financial year ended Dec 31, 2023 (FY2023).

Local market expected to support S P Setia

https://www.thestar.com.my/business/business-news/2024/08/16/local-market-expected-to-support-s-p-setia

Kelington to deliver another strong quarter on solid order book, says RHB

By Myia S Nair / theedgemalaysia.com

15 Aug 2024,

KUALA LUMPUR (Aug 15): RHB Research expects Kelington Group Bhd (KL:KGB) to deliver another quarter of strong earnings, on the back of a solid order book.

“We expect the strong year-on-year/quarter-on-quarter growth in revenue and core earnings to continue, supported by a solid RM1.3 billion order book (as of end-March) and favourable product mix”, RHB said in a note on Thursday. KGB is slated to announce its results for the second quarter ended June 30, 2024 (2QFY2024) on Aug 21.

“We gather that new job wins exceeded RM500 million in the first half ended June 30, 2024 (1HFY2024), with the majority coming from China, where tenders were aplenty," RHB added.

Keyfield more than doubles 2Q net profit, flags upcycle amid tight supply

theedgemalaysia.com

15 Aug 2024, 07:33 pm


KUALA LUMPUR (Aug 15): Oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) more than doubled its net profit in the second quarter and flagged an industry upcycle amid tight supply of vessels servicing the industry.

The average daily charter rates were higher in the April-June quarter (2QFY2024) when compared to the same quarter last year, Keyfield said in an exchange filing. The company’s accommodation vessels were also busier with an increase in the number of chartered days and utilisation rate, Keyfield noted.

Net profit for 2QFY2024 was RM70.04 million compared to RM30.16 million over the same period a year earlier. The company would have booked a net profit of RM77.1 million after adding back non-cash share option expenses and non-recurring listing expenses and accretion of interest on preference shares.

Revenue for the quarter surged 87% year-on-year to RM198.98 million from RM106.56 million. The number of chartered days for its own vessels in 2QFY2024 was 970 days with utilisation rate of 96.9% versus 2QFY2023’s 808 days and utilisation rate of 93.8%.

Keyfield International Bhd CEO Datuk Darren Kee said the company has fully repaid its bank borrowings and they can leverage on their current debt-free balance sheet to further enhance returns to our shareholders while remaining vigilant and dedicated in managing their fleet and operations prudently.

Excellent quarter results. 3 sen divvy per share. Wow.
TP of RM 3.80 by year end - no problem.

Hmmm.. interesting - 3 BUY calls by TA,RHB & AM INVEST.

15-Aug-2024 Price Target S P Setia Berhad - Anchored by Land Sales
Source : TA,
Price Call : BUY,
Price Target : 1.91


15-Aug-2024 Price Target SP Setia - Land Monetisation Driving Earnings; Maintain BUY
Source : RHB-OSK,
Price Call : BUY,
Price Target : 1.72


15-Aug-2024 Price Target S P Setia - Driven Largely by Johor Land Sales
Source : AmInvest,
Price Call : BUY
Price Target : 1.84

Setia's positive performance was partially offset by a higher share of joint venture (JV) losses, which amounted to RM121.8mn in 1H24 compared to RM46.6mn in 1H23. The increased losses were primarily due to issues with the Battersea Power Station JV, including the impact of MFRS 17 (Insurance Contracts), and inventory and bad debt write-downs.

This seem to be dragging the price down.

Finally Malakoff is moving -and at a good speed too.

@ Xiaoeh.

Extract from the Edge Weekly.

"Analyst and Fund managers who have visited the plant ( In Johore) have raised doubts about its status as a full fledged EMS facility. Some have described it as low value added operation, more like a basic contract manufacturing set up than a sophisticated EMS provider, as some might have thought."

Apologies ya folks if I have offended any one.

Absolutely @Ruben- I went thru the Edge weekly - No such news about CEB.

Posted by Ruben3636 > Aug 12, 2024 6:12 PM | Report Abuse

I subscribe to the Edge and have been for many years...i didn't read any news as what newbie 8080 claims... there's a bunch of people who love to give panic setting news especially to those who aren't experienced with it...

Bila beli promote maximum, bila sudah jual komdem maximum. Biasalah. lol. It’s normal bro . Contra mentality. No worries bro.

LOL

Hmmmm... Theta will be Genetec 2 as per birdy.- interesting ya.

Posted by Eagle77 > Jul 30, 2024 7:16 AM | Report Abuse

Patience to wait, endurance to hold then come huge profits just like holding Genetec 2.00 till 50.00 ✅

Posted by Eagle77 > Jul 30, 2024 7:24 AM | Report Abuse

Those who still holding Genetec now still got 32.00 ringgit per share after bonus issues 15:1 ✅… bought at 2.00 now still 32.00 😎💰💥


Posted by Eagle77 > Jul 30, 2024 7:28 AM | Report Abuse

Will Theta more furious than Genetec with so many business segments and opportunities during AI/DC/Digitalisation era nowadays??? Let’s buy just like buying Genetec ✅

Well said Bro. In life never mock the afflicted.

Be kind to each other.

@ Raymond
She is not raised with a silver spoon ..... so pls be gentle in your comments in these difficult times for her. At the rate of her shareholding sale, she will soon lose the company and the legacy that she had built..... for whatever reason ...someone who was a storekeeper at once..... peace

Very good closing - upward trend to continue on Monday.

CEB will be buoyed further due to improving sentiments and surge in Wall Street & Nasdaq. To close above 50cents today. Just my gut feel ya folks.

EPF is on course to being the largest shareholder in CEB with 5.04%. lol.

Yes- CEB has bottomed out. The market is flooded with CEB shares now as a result of massive forced selling by Bankers, hence the recovery will be slow.and steady unless a predator comes along and scoop/accumulate the shares with the intention of taking over CEB.

It is worth noting that the Employees Provident Fund (EPF) had recently emerged as a substantial shareholder in Cape EMS, despite the heavy selling faced by the stock.

On July 26, the EPF bought an additional 3.5 million shares in the group, raising its stake to 5.04%.

On that day, the Cape EMS stock traded between 69 sen and 88 sen, which represents a premium of at least 37% to yesterday’s closing price.

Barely a week after the EPF’s entry, Kim Yok transferred 20.4 million shares to the former. This reduced Kim Yok’s equity interest to 4.75% and she ceased to be a substantial shareholder.

Cape EMS was listed on the Main Market on March 10, 2023 at an issue price of 90 sen.

The stock touched a peak of RM1.51 in April last year.

The Red Hot New Jockey Called REDtone. (Repost)

“REDTONE” has arrived to accelerate the wild move of the dark horse, Theta. Redtone has acquired a 10% stake in Theta Edge Bhd from the open market recently and this makes Redtone the fourth largest shareholder after Lembaga Tabung Haji, Threadstone and Inter Pacific.

As we all know both offering similar services, so why would Redtone acquired stake in Theta? Since there are many projects already plan out in paving the way through digital transformation, this strategic interest will aid both companies to maximise potential of technical expertise, resources, and industrial knowledge to enhance their investment in IT and telco sector.

The arrival of Redtone, definitely will contribute to positive growth and momentum to Theta Edge. With Redtone’s single largest shareholder is our current YDPA (based on annual report) and of course Tan Sri Vincent Tan, this gonna be exciting and a good sign for Theta to win

1-NIISE and the

2- Johor Public Transport System (ART).

Exciting times ahead with VT's collaboration with THETA.

Absolutely Dragon - Just ignore those toxic sounds.

Flying like Eagle 88

Banks can be absolutely merciless when it comes to margin calls. so beware of margin financing.

Yes , you will never know.

If you have the holding power - you have got it made.

After the storm in 2 weeks time - price should stabilise around 75-80 cents.

Fundamentals are intact for CEB. Major shareholders/founders are in trouble due to margin brutal margin calls. Big opportunity to accumulated ate bargain prices- for the bravehearts.

The REDTone factor.

As per The Edge, there is another important development at Theta Edge, where REDTone Digital Bhd (KL:REDTONE) has recently surfaced as a substantial shareholder. On July 10, REDTone acquired 600,000 shares in Theta Edge and nudged its shareholding to 6.4 million shares or 5.43%. Since then, REDTone has upped its stake to 11.64 million shares for 9.87% equity interest.

Theta Edge’s stock gained more than 400% from early February this year when it was trading at 60 sen apiece to hit a record high of RM3.22 on July 23. Since then Theta Edge’s stock has tapered off and finished last Friday at RM2.34, for a market capitalisation of RM276 million.
REDTone offers telecommunications and managed telco network services, Internet of Things and cloud business, smart farming and it also operates as a reseller of Starlink, an Elon Musk company which accelerates internet speed.

REDTone’s shareholders are businessman Tan Sri Vincent Tan Chee Yioun’s Berjaya Group which has a 40.79% stake, while Sultan Ibrahim of Johor, who is now the King, holds 17.34%.

Decision on NIISE said to be made soon.
===============================

By Jose Barrock / The Edge Malaysia

06 Aug 2024, 02:00 pm

This article first appeared in The Edge Malaysia Weekly on July 29, 2024 - August 4, 2024
THE tender committee for the National Integrated Immigration System (NIISe) project — aimed at integrating the border control system under various agencies of the Ministry of Home Affairs — is understood to have met last week and made a recommendation for the award of the project, sources familiar with the matter tell The Edge.

It is understood that another meeting took place late last week to further discuss the merits of the two final bidders — Dagang NeXchange Bhd or DNeX (KL:DNEX) and Theta Edge Bhd (KL:THETA) — but details had yet to surface at press time.

“What we know is an announcement of the winner is going to be made soon, there is some ambiguity as to whom to award it to, [also] there is a lot of lobbying going on,” one source says.

Meanwhile, sources familiar with the bidding for the NIISE project say DNeX’s bid is higher, at some RM1.1 billion to RM1.2 billion, in contrast to Theta Edge’s price of RM800 million.

Breaking News

S&P 500 futures bounce after index posts worst day in nearly two years: Live

https://www.cnbc.com/2024/08/05/stock-market-today-live-updates.html

VT - Berjaya Group-SAPU THETA-CHEAP SALE

05-Aug-2024 Insider BERJAYA CORPORATION BERHAD (a substantial shareholder) acquired 580,000 shares on 02-Aug-2024.
05-Aug-2024 Insider BERJAYA CORPORATION BERHAD (a substantial shareholder) acquired 320,000 shares on 01-Aug-2024.
05-Aug-2024 Insider BERJAYA GROUP BERHAD (a substantial shareholder) acquired 580,000 shares on 02-Aug-2024.
05-Aug-2024 Insider BERJAYA GROUP BERHAD (a substantial shareholder) acquired 320,000 shares on 01-Aug-2024.
05-Aug-2024 Insider JUARA SEJATI SDN BHD (a substantial shareholder) acquired 580,000 shares on 02-Aug-2024.
05-Aug-2024 Insider JUARA SEJATI SDN BHD (a substantial shareholder) acquired 320,000 shares on 01-Aug-2024.
05-Aug-2024 Insider REDTONE DIGITAL BERHAD (a substantial shareholder) acquired 580,000 shares on 02-Aug-2024.
05-Aug-2024 Insider REDTONE DIGITAL BERHAD (a substantial shareholder) acquired 320,000 shares on 01-Aug-2024.

Yes, free float shares available in the market now is getting less and less and is basically a cornered stock. TP of RM6 is very much in sight.

To break the Rm 5 today.

Cheers to all our believers in Crescendo.

Uncle, the potential for this stock is enormous- invest in small quantities if your capital is limited. VT’s investment in this counter is invigoration.

Thanks for your brilliant insight Bro Ahmad. I fully agree with you.

Well said Bro ks55.

Folks, to make money in stocks, you need to have vision to see them, courage to buy them & patience to hold them. But sadly patience is the rarest of the three.

Folks, to make money in stocks, you need to have vision to see them, courage to buy them & patience to hold them.

But sadly patience is the rarest of the three.

Interesting latest development- as per The Edge Weekly.

Although there are rumors about the potential winning bidder, there are still details that need to be confirmed before the official announcement of the results. It is reported that the bidding process took a lot of lobbying effort.

Comparing the two bidding packages, Dnex's quotation was higher, between 1.1 billion to RM1.2 billion, and plans to adopt the official current system. As for THETA , its quotation is lower, only amounting to RM800 million, and it plans to develop a new border control system on its own.

According to sources, Dnex 's solution is relatively standard and the system has been rigorously tested; however, THETA has a price advantage but needs to pay more attention to system development. It is rumored that THETA s gearing up to poach senior executives from HTPADU, which is another shortlisted bidding company.

The bidding for the National Comprehensive Immigration System Project is a veritable multi-cornered battle. In addition to Dnex, THETA , and HTPADU , Redtone Digital ( 100% subsidiary of RedTone) was also a horse in the field . Tan Sri Vincent Tan, founder of Berjaya Corp owns 41% of RedTone.

The Edge quoted sources as saying that the tender committee held a meeting last week and the winner is expected to be officially announced soon.

THETA 's largest shareholder is LTAT with a 28% stake.

THETA may just have the EDGE.

25-Jul-2024 Insider BERJAYA GROUP BERHAD (a substantial shareholder) acquired 155,000 shares on 22-Jul-2024.
25-Jul-2024 Insider BERJAYA CORPORATION BERHAD (a substantial shareholder) acquired 155,000 shares on 22-Jul-2024.
25-Jul-2024 Insider JUARA SEJATI SDN BHD (a substantial shareholder) acquired 155,000 shares on 22-Jul-2024.
25-Jul-2024 Insider REDTONE DIGITAL BERHAD (a substantial shareholder) acquired 155,000 shares on 22-Jul-2024.

25-Jul-2024 Insider BERJAYA GROUP BERHAD (a substantial shareholder) acquired 155,000 shares on 22-Jul-2024.

25-Jul-2024 Insider REDTONE DIGITAL BERHAD (a substantial shareholder) acquired 155,000 shares on 22-Jul-2024.

Thanks for the info En Fuad. @ Ruuneiy aiscrimcup.