(Kuala Lumpur, 21st) Sunway City Industries $SIMEPROP (5288.MY)$ 's revenue and net profit for the first nine months of the 2024 fiscal year have both hit new highs, and the management is optimistic that the bullish trend can continue into the 2025 fiscal year.
Dato' Sri Azmi Ma'alek, Managing Director of Sunway City Industries, expressed during today's online performance briefing that the company currently has multiple projects waiting to be launched. Continuously diversifying industries by launching various projects such as industrial and residential projects to strengthen the business development.
Therefore, he is optimistic about the performance in the 2025 fiscal year and will continue to drive projects or acquire quality assets to increase recurring revenue.
Our goal is to transform from a company focused on industrial development to a comprehensive industrial company.
When asked about the slight decline in performance compared to the previous period, Azmi Mahathir said that the planned strategies are designed for the entire year, not just focusing on quarterly performance, hence there are no specific strategies per quarter.
He mentioned that currently there are indeed non-core assets ready for sale, including those away from the Klang Valley and Klang Valley area, but everything will still depend on market conditions and demand.
If the market conditions improve and the price is right, they will be sold. Everything is still subject to the team's exploration, but at this stage, there are no specific selling strategies.
Committed to solving the issue of water disasters.
On the other hand, due to over 10 residents in the Bukit Raja town of Klang frequently complaining about water disasters, Azmi Marikeni pointed out that as a responsible developer, they will discuss the issues with the relevant authorities, and this is also...

Petronas Petrochemicals $PCHEM (5183.MY)$ With a significant increase in forex losses, in the third quarter of the 2024 fiscal year (ending September), the company went from profit to loss, with a major loss of 0.789 billion ringgit, compared to a net profit of 0.424 billion ringgit in the same period last year.
This is also the first time Petronas Petrochemicals has incurred a quarterly loss since its listing.
Nevertheless, Petronas Chemicals Group recorded a revenue of 7.986 billion ringgit in the third quarter, a year-on-year increase of 17.72%.
In the first 9 months of the current financial year, Petronas Chemicals Group netted 0.656 billion ringgit, a drastic 58.59% year-on-year decline, while revenue increased by 8.20% year-on-year to 23.213 billion ringgit.
Petronas Chemicals Group stated that due to the weakening of the US dollar against the ringgit, the company incurred unrealized foreign exchange losses in revaluing accounts payable to its subsidiary, Pengerang Petrochemical Company (PPC), and in revaluing shareholder loans extended to PPC, becoming the main reason for the third quarter's profit turning into a loss.
PPC is a company operating in US dollars. The recent weakness of the US dollar against the ringgit has resulted in a forex loss of 0.536 billion ringgit when the accounts payable are reassessed, while the reassessment of shareholder loans has also caused a forex loss of 0.492 billion ringgit.
Forex losses amount to a total of 1.1 billion.
In addition to other business forex losses, Petrochemical Corporation faces a total forex loss of 1.1 billion ringgit in the third quarter.
Under the impact of the forex losses mentioned above, Petronas Chemicals Group's other expenses in the third quarter surged from 2 million ringgit in the same period last year to 11...

Fodder costs continue to decline, poultry industry profit margins expand.
Analysts believe that the poultry industry may expand its profit margins due to the decrease in fodder and other input costs, which will to some extent alleviate the impact of the depreciation of the ringgit.
MIDF investment bank analyst pointed out that feed usually accounts for 65% to 75% of production costs, which is a major bullish factor for the poultry industry.
The decline in feed costs is expected to increase the overall profits of resources. $QL (7084.MY)$ Longhe International $LHI (6633.MY)$ And the main companies' profit margins.
"We maintain an optimistic attitude towards the low prices of csi commodity equity index in 2025, thanks to ample supply from major exporting countries."
"Full benefit resources and Longhe International have the ability to seize this trend, combined with government support, making the outlook of the industry even more bullish."
Since early 2024, the prices of corn and soybean meal, among other key raw materials, have steadily declined.
In October this year, the average price of soybeans (accounting for 19% to 32% of fodder costs) was $350 per ton, a year-on-year decrease of 18%, due to increased supply from Argentina, the USA, and China.
At the same time, the price of corn, which typically accounts for 55% to 69% of fodder formulas, also decreased by an average of 14% last month, to $0.01 million7319 per ton, benefiting from increased production in major regions such as the USA, China, the EU, and Ukraine.
Exchange rate fluctuations pose risks.
However, analysts also warn that exchange rate fluctuations pose risks to all poultry companies purchasing raw materials in US dollars. In October, the average exchange rate of the ringgit against the US dollar...

Why was the gambling license for Genting Sing extended by two years instead of the usual three years?
genting sing $Genting Sing (G13.SG)$ The operation gambling license has been renewed for two years, effective from February next year.
The operation of Resorts World Sentosa (RWS) by Genting Sing, assessed by the Singapore Gambling Regulatory Authority (GRA) as "suitable for managing and operating a casino", was renewed for 2 years due to poor tourism performance instead of the usual 3 years.
According to the report from the Singapore news website CNA, the Singapore Gambling Regulatory Authority (GRA) has found that from January 1, 2021 to December 31, 2023, the tourism performance of Sentosa Integrated Resort in Singapore needs to "make rectifications and improvements in many aspects".
This conclusion is based on the investigation results of an independent evaluation team appointed by the Ministry of Trade and Industry (MTI) of Singapore.
The team assessed the ability of Sentosa Integrated Resort in Singapore to develop, maintain, and promote its integrated resort as a "tourist destination that attracts visitors, meets market demands, and industry standards".
The Singapore Gambling Regulatory Authority stated that when deciding to extend the casino license, they also took into account the opinions of the Ministry of Trade and Industry, the Singapore Tourism Board, and the Sentosa Development Corporation.
According to CNA's report, the new two-year gambling license will take effect on February 6, 2025. The next evaluation will take place in 2026.
A fine of 7.42 million ringgit
The Singapore Gambling Regulatory Authority stated that it will continue...

Due to limited expansion of return on equity (roe), coupled with possible interest rate cuts next year, local banks may face pressure on net interest margin. Analysts believe that the prospects of bank stocks are mediocre, especially for the leading Maybank. $MAYBANK (1155.MY)$ Cautioning investors, suggesting reducing holdings!
The latest analysis report from Malaysian investment banks suggests that the banking industry may cool down next year, with a sector rating of only 'neutral'. Maybank, with a high valuation, is likely to be the first to feel the impact, with the target price plummeting from the original 10.80 ringgit to 8.85 ringgit; the rating has also been downgraded to 'shareholding'.
The analyst stated that the reason for slashing the target price of the bank was not only due to the pressure on the return on equity, but also because the stock price of the bank was at a relatively high level compared to its book value.
In addition, the bank's operating income, compared to 6.9% in the 2024 fiscal year, is expected to drop significantly to 3% in the 2025 fiscal year, mainly due to a slowdown in funding and market income.
Therefore, in view of the various downside risks, analysts have lowered the target price and rating of Ma Bank.
Investing in banks with high roe is the strategy.
Overall, in the banking sector, analysts believe that banks with high return on equity and high liquidity will be one of the key investment focuses given the current situation.
Analysts pointed out that by the 2025 fiscal year, the return on equity (ROE) had only increased from 9.4% to 9.7%, mainly due to the core net profit of banks, expected to decrease from this year's 7% to 6....

The consortium officially acquires at 11 Malaysian ringgit per share.
A consortium led by Khazanah and Employees Provident Fund (EPF) formally proposed to acquire at 11 Malaysian ringgit per share today. $AIRPORT (5014.MY)$。
Previously, this acquisition proposal has been approved by the relevant regulatory authorities.
Malaysia Airports was originally listed on the Malaysian stock market in 1999, at that time, it was the first airport operating company to be listed in Asia and the sixth in the world. This also means that 25 years after listing, Malaysia Airports is officially moving towards privatization.
According to the statement, after obtaining approval from domestic and foreign authorities and meeting the prerequisites of the acquisition proposal, the consortium officially announced its acquisition of the remaining shares of Malaysia Airports.
The acquisition offer is 11 ringgit per share, a 6% premium over the last trading price of Malaysia Airports on last Friday at 10.34 ringgit, equivalent to a 38 times price-to-earnings ratio.
The proposal still comes with conditions, requiring the consortium to hold at least 90% of the shares, including those already held, by the acquisition deadline.
Currently, the consortium and its affiliated companies hold 41.1% of Malaysia Airlines.
Malaysian members hold 70% of the shares.
Malaysia Airports is responsible for managing 39 airports nationwide, including 5 international airports and 17 small airports. Additionally, they also own an international airport in Istanbul, Turkey.
If this acquisition proposal, first announced in May 2024, is successful, Malaysian members in the consortium will hold 70% of the shares in Malaysia Airports, while foreign partners - Abu Dhabi Investment Authority (...

Strong growth expected in the second half of the year. IOI Properties embarks on a new chapter 2.0.
IOI Real Estate $IOIPG (5249.MY)$ Currently, it can be said that the company is firing on all cylinders, driving the occupancy rate of the industrial projects in Singapore. However, analysts point out that the overall performance of the company will be weak in the first half of 2025, but a major turnaround is expected in the second half of the year, therefore, they continue to be bullish on the company's performance.
Analysts at Fong Leong Investment Bank pointed out that the decline in performance in the first half of the year was mainly due to the initial losses of Singapore's IOI Central Boulevard (IOICB).
However, with the improvement in the rental rates of The South Beach and IOICB in Singapore, coupled with the initial contributions from land sales and Marina View Residences (MVR) on the rise, it is expected to drive a strong recovery in overall performance in the second half of the year.
In addition, analysts also indicate that the hotel business is expected to rebound, and renovation projects are progressing vigorously, believed to be one of the main contributors.
Furthermore, the company intends to launch industries and projects worth over 14 billion Malaysian Ringgit in the 2025 fiscal year, with projects in Malaysia accounting for 2 billion Ringgit and those in Singapore accounting for a larger share of 12 billion Ringgit, setting a historic record for Malaysian developers.
Analysts also observed that the company has a more positive trend in launching the Malaysia project, as in 2024...