00:00 [Music]
00:04 Tenaga National expects its imbalanced cost pass-through or ICPT receivables to fall,
00:10 primarily due to the moderation of coal prices and as it fully recouped
00:15 RM10.4 billion of ICPT costs for the first half of this year.
00:20 In a statement, the group said it expects to recover RM4.7 billion of ICPT costs
00:26 from Petrajaya in the remainder of the year. Its President and CEO, Datuk Baharindin, said
00:31 the development will improve its working capital and cash flow levels in 2023
00:36 and subsequently gearing levels. Looking ahead to the first half of the 2024 financial year,
00:42 TMB is expecting a recovery of about RM7 billion from ICPT based on current fuel price trends,
00:49 reflecting the company's proactive approach to managing its financial outlook,
00:54 controlling fuel-related expenditures and collecting revenue. Baharindin noted that
00:59 TMB's prudent capital management enables it to reward its shareholders with an interim dividend
01:05 of RM18, which accounts for 49.4% of the adjusted profit after tax and minority interest.
01:12 [Music]
01:17 MyNews Holdings has redesignated its founder and group CEO,
01:21 Deng Tai Lok, as the group's executive chairman. This after previous chair, Din Lian Bing, resigned,
01:27 citing time constraints arising from his other ongoing personal commitments.
01:32 He will, however, stay on as an advisor to the company. In a boar's filing, MyNews said
01:37 Deng's brother and deputy group CEO, Deng Tai Wen, will take over the reins as CEO.
01:42 It said he has over 20 years' experience in the sector and that he started his retail
01:48 career with MyNews after working from ground up with many retailers such as Mac's, CVS and
01:54 McDonald's in Canada. In a separate filing, MyNews said its quarterly net loss widened in the third
02:00 quarter of FY23, mainly due to higher selling and distribution costs. Net loss stood at RM2.16
02:07 million against RM1.45 million the year prior. Top line rose 9% to RM185.79 million, fueled by
02:16 the increase in the number of outlets and improvement in the overall in-store sales.
02:21 At the close, MyNews' shares rose 5.8% to RM0.55, valuing it at RM412.7 million.
02:28 Aon Credit Service Malaysia saw its second quarter FY20-24 net profit jump 59%,
02:41 supported by higher transaction and financing volume. Earnings totaled RM120.19 million,
02:47 while revenue rose 18.2% to RM471.73 million on stronger loan and financing growth.
02:56 It declared an interim dividend of RM28.5 per share. For the first half of FY20-24,
03:03 net profit contracted by 8% to RM219.55 million due to higher impairment losses on financing
03:10 receivables. Revenue, however, increased by 17% to RM924.4 million, fueled by higher transaction
03:19 and financing volume. Looking ahead, the group said it remains cautious on the outlook for the
03:24 second half of FY20-24 in view of prevailing economic headwinds, tightening policy rates
03:30 to curb inflationary pressures, and volatility in the global banking industry and financial markets.
03:37 It will continuously enhance its information technology capabilities to support its growth
03:42 and fortify its long-term business sustainability. Shares in Aon Credit closed 0.35% higher at RM11.52,
03:50 giving it a market capitalization of RM2.92 billion.
03:54 Evergreen Max Cash Capital, or EMCC, which debuted on the ACE market today,
04:05 said it expects demand for Pond Broking to increase amid the escalating cost of living.
04:11 In a press conference following the listing ceremony, its executive director Lau Kai Lun said
04:16 the company aims to grow its market share from just over 3% to 10% in the next few years.
04:22 He said the Pond Broking industry in Malaysia is expected to grow at a compounded growth rate of
04:28 5.9% between 2022 and 2024 and to reach RM12 billion next year. EMCC, which has set aside
04:36 RM20 million from its initial public offering to open up five new pond shops, will prioritize
04:42 its existing markets in Kuala Lumpur, Selangor, Negeri Sembilan and Pahang, which house its 22
04:48 existing Pajar King Pond Shops. EMCC ended trading at RM31.5, valuing it at RM351.19 million.
04:58 That's 31% higher than its listing price of RM0.24.
05:01 It was Bursa's top active counter, with 285.15 million shares traded.
05:08 The Natural Resources, Environment and Climate Change Ministry will be meeting with state
05:19 governments next week to discuss the establishment of a framework for the extraction of rare earth
05:24 elements or REEs in the country. REEs are used in the production of various products and technologies,
05:31 including electric vehicles, turbines and windmills. According to a Burnama report,
05:36 its Minister, Nik Nasmin Nik Ahmad, said the talks will focus on the processing aspects that need to
05:42 be done locally, as well as potential areas that could be explored without disrupting the ecosystem
05:49 of the permanent forest reserves. He said 80% of areas that may contain REEs are located outside
05:56 the reserves and would like these to be prioritised to avoid harming the country's forests, which are
06:02 among the oldest in the world. Nik Nasmin said this when winding up the debate on the motion
06:07 of the 12th Malaysia Plan mid-term review for his ministry at the Diyawan Negara today.
06:12 [Music]
