Forwarded from M+ On-The-Go
Good Morning All,
Here’s our IPO note on Camaroe Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.17 per share for CAMAROE, indicating a 21.4% upside from the IPO price of RM0.14. This valuation is based on a PE multiple of 11.0x pegged to mid-FY26f EPS of 1.56 sen.
Investment highlights include:
(i) Full supply chain control to ensure consistent supply and healthy margins
(ii) Established export-driven B2B model with China as the main focus
(iii) Compliance with local and international quality standards
(iv) More ponds, more revenue
(v) Market share reflects overseas export focus
Research Team, M+
4 Sep 2025
Here’s our IPO note on Camaroe Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.17 per share for CAMAROE, indicating a 21.4% upside from the IPO price of RM0.14. This valuation is based on a PE multiple of 11.0x pegged to mid-FY26f EPS of 1.56 sen.
Investment highlights include:
(i) Full supply chain control to ensure consistent supply and healthy margins
(ii) Established export-driven B2B model with China as the main focus
(iii) Compliance with local and international quality standards
(iv) More ponds, more revenue
(v) Market share reflects overseas export focus
Research Team, M+
4 Sep 2025
Forwarded from M+ On-The-Go
Good Morning All,
We issued an update note on our coverage stock Inta Bina Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
This latest contract win is a significant positive for INTA, solidifying its order book. As this is the fourth win for FY25, it has boosted the YTD contract awards to c.RM679.3m, amounting to 46.8% of our full-year target. More importantly, this addition expands INTA's unbilled order book to a substantial RM1.9bn, providing strong earnings visibility with a 2.5x cover ratio over FY24's construction revenue.
Hence, we maintain our BUY recommendation with a target price of RM0.76, based on a P/E multiple of 11x pegged to FY26F EPS of 6.89 sen.
Research Team, M+
4 September 2025
We issued an update note on our coverage stock Inta Bina Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
This latest contract win is a significant positive for INTA, solidifying its order book. As this is the fourth win for FY25, it has boosted the YTD contract awards to c.RM679.3m, amounting to 46.8% of our full-year target. More importantly, this addition expands INTA's unbilled order book to a substantial RM1.9bn, providing strong earnings visibility with a 2.5x cover ratio over FY24's construction revenue.
Hence, we maintain our BUY recommendation with a target price of RM0.76, based on a P/E multiple of 11x pegged to FY26F EPS of 6.89 sen.
Research Team, M+
4 September 2025
Analysts upgrade Solarvest’s outlook on LSS5+ win with Malakoff
https://theedgemalaysia.com/node/769298
https://theedgemalaysia.com/node/769298
The Edge Malaysia
Analysts upgrade Solarvest’s outlook on LSS5+ win with Malakoff
Solarvest Holdings Bhd (KL:SLVEST) is expected to see a strong boost in returns over the next three years, supported by a record-high order book and growing market share, following its LSS5+ solar project win with Malakoff Corporation Bhd (KL:MALAKOF).
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 8Sep25
Dow Jones: 45,400.86 pts (-220.43pts, -0.48%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,578.15 pts (-0.37pts, -0.02%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 25,417.98 pts (+359.47pts, +1.43%)
⬆️ Resistance: 26400
⬇️ Support: 24600
Crude Palm Oil: RM4,448 (+RM6, +0.14%)
⬆️ Resistance: 4590
⬇️ Support: 4320
Brent Oil: $65.50 (+$0.11, +0.17%)
⬆️ Resistance: 71.00
⬇️ Support: 63.80
Gold: $3,586.69 (+$4.92, +0.14%)
⬆️ Resistance: 3680
⬇️ Support: 3370
Source: Bloomberg, M+ Global
Dow Jones: 45,400.86 pts (-220.43pts, -0.48%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,578.15 pts (-0.37pts, -0.02%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 25,417.98 pts (+359.47pts, +1.43%)
⬆️ Resistance: 26400
⬇️ Support: 24600
Crude Palm Oil: RM4,448 (+RM6, +0.14%)
⬆️ Resistance: 4590
⬇️ Support: 4320
Brent Oil: $65.50 (+$0.11, +0.17%)
⬆️ Resistance: 71.00
⬇️ Support: 63.80
Gold: $3,586.69 (+$4.92, +0.14%)
⬆️ Resistance: 3680
⬇️ Support: 3370
Source: Bloomberg, M+ Global
Forwarded from M+ On-The-Go
M+ Global Market Update – 08Sep25
Still Into Solar And Data Center
US: With softer guidance from the Treasury Secretary, coupled with softer-than-anticipated jobs data, Wall Street closed the week on a weaker note. Traders could be looking at the possibility of a 50 bps rate cut this month, as the Greenback saw heavy selling after the release of August’s non-farm payrolls, which missed economists’ estimates by a wide margin of 75,000. The unemployment rate also edged higher to 4.3%. Hence, we expect the market to trade on a cautious note and will closely track (i) key inflation data, (ii) unemployment claims, and (iii) preliminary consumer sentiment. In the commodities market, Brent retreated towards 65/bbl, while Gold climbed to $3,592/oz. CPO prices remained stable at $4,448/MT.
MY: Given the broadly negative overnight performance in the US, we anticipate the local bourse will begin the week on a weaker note. However, solar-related companies should continue to see healthy buying support following the recent rollout of LSS5+. We view SLVEST, PEKAT, and NORTHERN as the major proxies riding on government initiatives like NETR, NEM, and LSS. Meanwhile, we expect the ongoing data center boom to provide healthy buying support for construction stocks. In this segment, we like JTGROUP and LSH Capital; the latter is deemed undervalued given its 6–7x order book coverage ratio. For a conservative play, traders should focus on consumer stocks like Spritzer, given its recent stellar results.
Stocks to watch:
Financial: BURSA, *MNRB*, OSK
Construction: *KIMLUN*, *JTGROUP*
Consumer: *GENM*, SPRITZER
Property: *IOIPG*, KSL
Building Material: MCEMENT
Automotive: DRBHCOM
Source: M+ Global
Still Into Solar And Data Center
US: With softer guidance from the Treasury Secretary, coupled with softer-than-anticipated jobs data, Wall Street closed the week on a weaker note. Traders could be looking at the possibility of a 50 bps rate cut this month, as the Greenback saw heavy selling after the release of August’s non-farm payrolls, which missed economists’ estimates by a wide margin of 75,000. The unemployment rate also edged higher to 4.3%. Hence, we expect the market to trade on a cautious note and will closely track (i) key inflation data, (ii) unemployment claims, and (iii) preliminary consumer sentiment. In the commodities market, Brent retreated towards 65/bbl, while Gold climbed to $3,592/oz. CPO prices remained stable at $4,448/MT.
MY: Given the broadly negative overnight performance in the US, we anticipate the local bourse will begin the week on a weaker note. However, solar-related companies should continue to see healthy buying support following the recent rollout of LSS5+. We view SLVEST, PEKAT, and NORTHERN as the major proxies riding on government initiatives like NETR, NEM, and LSS. Meanwhile, we expect the ongoing data center boom to provide healthy buying support for construction stocks. In this segment, we like JTGROUP and LSH Capital; the latter is deemed undervalued given its 6–7x order book coverage ratio. For a conservative play, traders should focus on consumer stocks like Spritzer, given its recent stellar results.
Stocks to watch:
Financial: BURSA, *MNRB*, OSK
Construction: *KIMLUN*, *JTGROUP*
Consumer: *GENM*, SPRITZER
Property: *IOIPG*, KSL
Building Material: MCEMENT
Automotive: DRBHCOM
Source: M+ Global
*Local Bourse Recap: Cautious Mode on Short Trading Week*
- The *KLCI* gained 0.19% the last week, as investors were having mixed sentiment on potential rate cut by FED and weak job data recorded in US. The trading flows from foreign investors were also mixed but still skewed towards better selling with net sales of ~RM187mn of shares last week on the back of index rebalancing. The small and mid caps outperformed the broad market, as FBM Small Cap Index was up by 0.40%, while ACE Index improved by 0.35%.
- The *consumer sector* was the top performer of the week, led by MRDIY and MBMR, on the back of resilient earnings, and PPB, after sell down due to MISC rebalancing. The *technology sector* was another major winner of the week, as investors position for rate cut expectation, coupled with improved sentiment on earnings for 2H 2025.
- The *healthcare sector* was the laggard of the week, mainly dragged by meltdown of KPJ after disappointed earnings reported. KPJ has corrected close to 20% from recent high for the past 1 month. The *utilities sector* continued to be another underperformer of the week, dragged by weaknesses from TENAGA and YTL.
- The market sentiment is expected to improve, closer to the FOMC meeting which will be held by the third week of Sep on rate cut expectation. On the local front, investors continue to review and assess the corporate earnings and strategize position for the Q4 2025, and allocate more money into cyclical plays amid low interest rate environment.
- The *KLCI* gained 0.19% the last week, as investors were having mixed sentiment on potential rate cut by FED and weak job data recorded in US. The trading flows from foreign investors were also mixed but still skewed towards better selling with net sales of ~RM187mn of shares last week on the back of index rebalancing. The small and mid caps outperformed the broad market, as FBM Small Cap Index was up by 0.40%, while ACE Index improved by 0.35%.
- The *consumer sector* was the top performer of the week, led by MRDIY and MBMR, on the back of resilient earnings, and PPB, after sell down due to MISC rebalancing. The *technology sector* was another major winner of the week, as investors position for rate cut expectation, coupled with improved sentiment on earnings for 2H 2025.
- The *healthcare sector* was the laggard of the week, mainly dragged by meltdown of KPJ after disappointed earnings reported. KPJ has corrected close to 20% from recent high for the past 1 month. The *utilities sector* continued to be another underperformer of the week, dragged by weaknesses from TENAGA and YTL.
- The market sentiment is expected to improve, closer to the FOMC meeting which will be held by the third week of Sep on rate cut expectation. On the local front, investors continue to review and assess the corporate earnings and strategize position for the Q4 2025, and allocate more money into cyclical plays amid low interest rate environment.
*Market News on 8 SEPT 2025*
US stocks brush record highs as weak jobs data fuel rate cut bets (Reuters)
US unemployment rate near 4-year high as labor market hits stall speed (Reuters)
Trump to impose tariffs on semiconductor imports from firms not moving production to US (Reuters)
Trump Lifts Tariffs On Gold, Critical Metals; Silicone Products Hit (Business Today)
Broadcom stock jumps 9% on new $10 billion customer that analysts say is OpenAI (CNBC)
OPEC+ agrees further oil output boost from October to regain market share (Reuters)
Fitch unit sees Malaysia’s construction sector growing 9.6% in 2025 (Bernama)
Malaysia Targets Low-Risk Palm Oil Status Under EU Rules (Business Today)
Aviation Recovery Takes Off As July Traffic Hits 9.3 Million (Business Today)
Spending Using Sumbangan Asas Rahmah (SARA) Aid Reaches RM536.9 Million (Business Today)
Malaysia’s property market softens as deal volume dips, developers slow launches, first-half data shows (The Edge)
Anwar invites Geely to increase investment for Automotive Hi-Tech Valley development (The Edge)
*Hengyuan* Says On Track To Raise RM300 Million Through Rights Issue (Business Today)
*Swift Haulage*, China's Moon Environment to build cold storage in Shah Alam (The Edge)
*JAKS Resources*, China’s CPEEC to build two large-scale solar plants in Terengganu (The Edge)
*Pentamaster* expands into technology for next-gen AI servers via JV (The Edge)
Khazanah trims *Farm Fresh holdings*, ceases to be substantial shareholder (The Edge)
*Citaglobal* emerges in LSS5+ shortlist for Kuantan floating solar project (The Edge)
*WTK* to acquire plantation and palm oil mill businesses from major shareholder for RM555m cash (The Edge)
US stocks brush record highs as weak jobs data fuel rate cut bets (Reuters)
US unemployment rate near 4-year high as labor market hits stall speed (Reuters)
Trump to impose tariffs on semiconductor imports from firms not moving production to US (Reuters)
Trump Lifts Tariffs On Gold, Critical Metals; Silicone Products Hit (Business Today)
Broadcom stock jumps 9% on new $10 billion customer that analysts say is OpenAI (CNBC)
OPEC+ agrees further oil output boost from October to regain market share (Reuters)
Fitch unit sees Malaysia’s construction sector growing 9.6% in 2025 (Bernama)
Malaysia Targets Low-Risk Palm Oil Status Under EU Rules (Business Today)
Aviation Recovery Takes Off As July Traffic Hits 9.3 Million (Business Today)
Spending Using Sumbangan Asas Rahmah (SARA) Aid Reaches RM536.9 Million (Business Today)
Malaysia’s property market softens as deal volume dips, developers slow launches, first-half data shows (The Edge)
Anwar invites Geely to increase investment for Automotive Hi-Tech Valley development (The Edge)
*Hengyuan* Says On Track To Raise RM300 Million Through Rights Issue (Business Today)
*Swift Haulage*, China's Moon Environment to build cold storage in Shah Alam (The Edge)
*JAKS Resources*, China’s CPEEC to build two large-scale solar plants in Terengganu (The Edge)
*Pentamaster* expands into technology for next-gen AI servers via JV (The Edge)
Khazanah trims *Farm Fresh holdings*, ceases to be substantial shareholder (The Edge)
*Citaglobal* emerges in LSS5+ shortlist for Kuantan floating solar project (The Edge)
*WTK* to acquire plantation and palm oil mill businesses from major shareholder for RM555m cash (The Edge)
Forwarded from Trade With Maybank
Bursa Malaysia Midday Recap: Building US Rate Cut Expectations
The FBM KLCI climbed today as last Friday’s softer US labour data pushed the probability of Fed rate cuts higher (CME Fed Watchtool: 90% for a 25bps rate cut; 10% for 50bps). Broad market flipped back into positive territory today with most sectors in the green. Gold prices seen higher from last Thursday’s close given the higher rate cut expectations. Key lookouts this week is US inflation focused: PPI (Wed), CPI (Thur).
Updates on the technical front, KSL ended the morning session just below our first technical resistance level of MYR1.85. For investors looking for trade ideas today, consider checking out DRBHCOM (Estimated Resistance: MYR0.970; Stop Loss: MYR0.795) as an alternative. For a full breakdown on this trade idea, check out todays’ Traders’ Almanac video above!
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
The FBM KLCI climbed today as last Friday’s softer US labour data pushed the probability of Fed rate cuts higher (CME Fed Watchtool: 90% for a 25bps rate cut; 10% for 50bps). Broad market flipped back into positive territory today with most sectors in the green. Gold prices seen higher from last Thursday’s close given the higher rate cut expectations. Key lookouts this week is US inflation focused: PPI (Wed), CPI (Thur).
Updates on the technical front, KSL ended the morning session just below our first technical resistance level of MYR1.85. For investors looking for trade ideas today, consider checking out DRBHCOM (Estimated Resistance: MYR0.970; Stop Loss: MYR0.795) as an alternative. For a full breakdown on this trade idea, check out todays’ Traders’ Almanac video above!
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
Govt finalising RON95 subsidy eligibility, says Amir Hamzah
https://www.thestar.com.my/business/business-news/2025/09/08/govt-finalising-ron95-subsidy-eligibility-says-amir-hamzah
https://www.thestar.com.my/business/business-news/2025/09/08/govt-finalising-ron95-subsidy-eligibility-says-amir-hamzah
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 9Sep25
Dow Jones: 45,514.95 pts (+114.09pts, +0.25%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,585.59 pts (+7.44pts, +0.47%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 25,633.91 pts (+215.93pts, +0.85%)
⬆️ Resistance: 26400
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (RM0, 0.00%)
⬆️ Resistance: 4590
⬇️ Support: 4320
Brent Oil: $66.02 (+$0.52, +0.79%)
⬆️ Resistance: 71.00
⬇️ Support: 63.80
Gold: $3,635.98 (-$6.17, -0.17%)
⬆️ Resistance: 3720
⬇️ Support: 3410
Source: Bloomberg, M+ Global
Dow Jones: 45,514.95 pts (+114.09pts, +0.25%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,585.59 pts (+7.44pts, +0.47%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 25,633.91 pts (+215.93pts, +0.85%)
⬆️ Resistance: 26400
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (RM0, 0.00%)
⬆️ Resistance: 4590
⬇️ Support: 4320
Brent Oil: $66.02 (+$0.52, +0.79%)
⬆️ Resistance: 71.00
⬇️ Support: 63.80
Gold: $3,635.98 (-$6.17, -0.17%)
⬆️ Resistance: 3720
⬇️ Support: 3410
Source: Bloomberg, M+ Global
Forwarded from M+ On-The-Go
M+ Global Market Update – 09Sep25
Small Cap Index Experienced A Small Breakout
US: The market continued to stay positive amid tech-driven momentum, shrugging off the ongoing uncertain trade environment. However, last week President Trump commented that there will be a substantial semiconductor tariff that will be coming “shortly”, which may limit the upside potential of the current movements. In the near term, traders will be watching the CPI and PPI data to assess the FOMC decision next week. The current market is looking at a rate cut, with ~10% of market participants pricing in a 50bps cut. In the commodities market, both Brent and gold remained stable at USD65/bbl and USD3,629/oz, while CPO edged marginally higher to RM4,488/MT.
MY: Given the broadly positive overnight performance in the US, we anticipate healthy buying support to sustain momentum in the local index. The FBM Small Cap index has experienced a short-term breakout formation, which we think might be a bullish sign for more upside potential on a broader scale. Moreover, with the recent rollout of LSS5+, we believe SLVEST, PEKAT, and NORTHERN are direct proxies, riding on government initiatives. Meanwhile, we expect the ongoing data center and AI catalysts to provide buying support for construction and technology stocks. For a more conservative play, traders may focus on consumer stocks, supported by a stronger ringgit and domestic-led MyKasih cash handouts.
Stocks to watch:
Construction and Building Material: *CBHB*, *JTGROUP*, SKBSHUT, UNIQUE
REIT: PAVREIT, SUNREIT
Utility: *RANHILL*, YTLPOWR
Technology: *EDELTEQ*
Gaming: *GENM*
Consumer: HUPSENG
Financial: MNRB
Source: M+ Global
Small Cap Index Experienced A Small Breakout
US: The market continued to stay positive amid tech-driven momentum, shrugging off the ongoing uncertain trade environment. However, last week President Trump commented that there will be a substantial semiconductor tariff that will be coming “shortly”, which may limit the upside potential of the current movements. In the near term, traders will be watching the CPI and PPI data to assess the FOMC decision next week. The current market is looking at a rate cut, with ~10% of market participants pricing in a 50bps cut. In the commodities market, both Brent and gold remained stable at USD65/bbl and USD3,629/oz, while CPO edged marginally higher to RM4,488/MT.
MY: Given the broadly positive overnight performance in the US, we anticipate healthy buying support to sustain momentum in the local index. The FBM Small Cap index has experienced a short-term breakout formation, which we think might be a bullish sign for more upside potential on a broader scale. Moreover, with the recent rollout of LSS5+, we believe SLVEST, PEKAT, and NORTHERN are direct proxies, riding on government initiatives. Meanwhile, we expect the ongoing data center and AI catalysts to provide buying support for construction and technology stocks. For a more conservative play, traders may focus on consumer stocks, supported by a stronger ringgit and domestic-led MyKasih cash handouts.
Stocks to watch:
Construction and Building Material: *CBHB*, *JTGROUP*, SKBSHUT, UNIQUE
REIT: PAVREIT, SUNREIT
Utility: *RANHILL*, YTLPOWR
Technology: *EDELTEQ*
Gaming: *GENM*
Consumer: HUPSENG
Financial: MNRB
Source: M+ Global