Sukri Abu Bakar

Evergreen poised to turn the corner, boosted by pick up in demand from the US and EU Evergreen Fibreboard Bhd saw some bullish momentum in its share price with no sign of it abating. It is now trading close to its 52-week high of 38 sen seen in September last year. The counter rose 33.3% over the past year to close at 36 sen on June 7. It was trading at a low of 26 sen a year ago. The stock will likely extend its upward trajectory towards the 38 sen and 42 sen region in the near term. Investors were probably concerned over its loss making position as it posted a loss of RM33 million in FY23. However, the wood manufacturer is anticipated to see a turnaround in the second half of this year. According to HLIB, this will help the company return to the black in the full fiscal year 2024. The research house expects Evergreen to post a net profit of RM10.5 million and RM19.5 million in FY25. Going into the second half of the year, Evergreen’s return to profitability will be driven by a number of factors. For one, the new capacity in the Indonesia MDF line will be coming online in 3Q24. The increased capacity in the Indonesia MDF line can be absorbed by the local Indonesian and Middle Eastern markets. A recovery in furniture demand from the US and EU will also be Evergreen’s growth catalyst. Another key catalyst for rising demand could be the anticipated recovery in the US housing market in anticipation of a rate cut. A meaningful rebound in the demand from US will be significant to local furniture players, as the US market accounted for around 49% of Malaysia’s wood furniture export. Should this materialise, panel board makers like Evergreen will be among the first to benefit as Malaysian furniture manufacturers replenish their panel board inventories.  Evergreen focused on developing new markets by increasing exports of Ready-to-Assemble (RTA) furniture to Japan after facing a slowing furniture demand from the US and EU, This strategic shift has yielded encouraging results, with exports to Japan now accounting for 20% of it’s RTA sales. Given the stringent compliance standards in Japan, Evergreen’s successful penetration could pave the way for expanding its client base and product offerings, potentially including panel board exports to Japan in the future. Investors should look at this counter, which looks more than capable to giving more upside to its shareholders in the near term as it turns the corner.

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The National Development Fund (NDF) started operations over 13 years ago intending to allocate a share of oil earnings for national development projects and provide loans for the private sector. However, the fund has not lived up to its promises. This SGPM report looks into NDF operations over the past 13 years. #iran #national #development #fund #ndf #privatesector #piblicsector #sgpm #oil #earning

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1330 06052025 ATHENAMARKETBUZZ MONDAY Good Morning , MDEX opened marginally higher, and by lunch, we were mostly unchanged, with July settling at +3 at RM 3847. China has returned with improved commitments, and Chinese officials are looking to utilise their unsold houses. This could be seen as a sign of the government's efforts to keep the market stable and seek growth. Crude oil also surged after the peace talks between Israel and Hamas failed, and gold also rose as a result. Indians returned to already hot weather and lower palm prices. CNF India offers for CPO are around USD 930-935 for the spot month and ROL around USD 910-900. It is interesting to note that the inverse in the market has completely disappeared, and with an increase in stocks in Malaysia and Indonesia, we will see forward carry. Traders holding spot longs will get better prices if they wait and sell. BMD has recently reached lows of RM 3800 but quickly bounced back to close above RM 3850. We can see consolidation happening around RM 3800 with a lower shadow at RM 3750. MDEX should receive support from global conflict and increased crude oil prices, and we may once again reach RM 4000 levels. We will reiterate that buyers should wait for prices to correct around RM 3750-3650 in order to make longs, and one can sell back their longs when prices cross RM 3950-4000. If due to conflict prices move higher towards RM 4250 or above, one should be prepared to make shorts in this market. Palm has corrected over 12% in a month but is still higher by 5% if we compare year-to-date, and this 5% should also provide essential support. Black Sea sunflower oil is trading stable and is not impacted by falling soybean oil. Freights to India are maintained between USD 130-140, while the freight for smaller vessels to Europe is still around USD 90. This makes Ukraine-origin sunflower oil preferred in Europe and tough to market in India. Ukraine will have just over 800,000 MT more to be shipped in the coming months before the new crop hits the market, which will keep it at a premium over bean oil. New crop sunflower oil will come in the month of September, and with the high temperatures in Asia and Russia, we will see some crop damage. We don't see any aggressive seller right now for the JAS months, and we expect prices to rally further soon. Currently, CNF offers to India are around USD 950-955, comparable to Europe, and Ukraine-origin sunflower oil will not be sold to India. Russian origin, on the other hand, will continue to come to India albeit in smaller volumes, giving the much-needed support to current prices. Offers to India are already around USD 950 to do slightly lower, and as mentioned before, prices between USD 900-920 will make excellent longs in sunflower oil. One should not expect the prices to correct below USD 900 as there is not enough sunflower oil to support such action before next September 2024. To read more please visit our blog https://lnkd.in/dG8MDtny

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Could this offer a much more viable option for the Straits of Malacca congestion? Historically, it served the purpose. The Laluan Penarikan stands out as an extraordinary example of human ingenuity and the strategic significance of our earliest ancient trade routes connecting the Indian Ocean to the Strait of Malacca and to the South China Sea. This historic “portage route,” facilitating the movement of goods between the west and east coasts of the Malay peninsula, represented the commercial vibrancy of the region and emphasised the importance of interconnecting diverse geographies. https://lnkd.in/gxbyNuzq

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Had a productive meeting with Luciano Pezzotta , Deputy Chairman of EuroCham, where we discussed the pivotal role of strong Business Chambers in Malaysia. Collaboration and co-creation are essential in today's business landscape, and business chambers can serve as crucial facilitators in fostering partnerships. We also explored the significance of digital infrastructure for companies looking to establish or expand their presence in Malaysia. Connectivity and cloud services are critical components of national infrastructure that can differentiate countries and attract foreign investments. It is great to see Malaysia's global recognition for its advancements in providing high-performing, secure, reliable, and affordable connectivity. Malaysia’s 5G network is today ranked top 5 in the world. We can see an a very strong consumer uptake of 5G and now the focus should be to leverage on 5G to drive digital transformation and innovation for enterprises. During our meeting, we discussed how we can leverage on the Business Chambers to accelerate this digital transformation journey. We have a tremendous opportunity ahead of us, so let's collaborate and work together to make it happen! EUROCHAM Malaysia | Italcham Malaysia - Italian Chamber of Commerce in Malaysia | SWEDCHAM Malaysia (formerly MASBA)

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As part of Funding Societies Singapore and SGeBIZ agreement, the said alliance will further enable over two thousand businesses currently using the EzyProcure platform, primarily SMEs in the food and beverage sector and their suppliers, to access customised financing solutions. These initiatives will assist businesses in managing their cash flow. Simon Xie, country head for Singapore at Funding Societies, said, "We're honoured to partner with SGeBIZ in taking a more holistic approach in serving SMEs to aid their cash flow management needs. One such way is recognising how we are embedding our digital financing capabilities and best practices in serving Singaporean SMEs over the past nine years to support the BNPL offering via EzyProcure.” Edmund Louis Nathan, group chief executive officer at SGeBIZ, said, "The partnership with Funding Societies is something I have envisioned since the inception of SGeBIZ, to be able to value-add and help our SMEs by providing much-needed liquidity to grow their businesses.” #partnership #financesolutions #singapore ------ -[Awards] MARKETECH APAC is launching its inaugural "Marketing Technology Awards" where we recognise the groundbreaking achievements in marketing technology, uniting the brands and tech organisations within the region’s marketing community. Learn how your brand can be a part of it by checking it more details HERE: https://bit.ly/3SVtoIa -[Newsletter] To learn more about the latest news, trends and insights in the technology industry, subscribe to UpTech Media’s newsletter by filling out this form: https://lnkd.in/eKr8Se4y

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Now, small businesses can access flexible financing solutions to fuel growth and success. Discover how this partnership is transforming SME finance in the link below 😊

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Maybank's Sustainability Efforts > Net Zero Goal: #Maybank is aiming for net zero emissions by 2050. > Interim Targets: They've set interim targets for reducing emissions in their palm oil and power financing portfolios. > Palm Oil: They aim to decrease financed emissions intensity from palm oil production by 2030. Their baseline is already lower than the reference scenario. > Power Sector: They have a target to bring down the emissions intensity of their power financing by 2030. Their starting point is already below the regional average. > No New Coal Financing: Maybank will not finance new coal-fired power plants or companies heavily reliant on thermal coal. > Supporting Transition: Maybank believes they can support a sustainable energy transition in the region through financing and other initiatives. Key Points • #Goal: Achieve net zero emissions by 2050. • #Plan: Reduce financed emissions intensity for palm oil production. Reduce financed emissions intensity for power generation. No new financing for greenfield coal-fired power plants or companies reliant on thermal coal. • #Progress: - Palm oil: Baseline already below reference scenario, aiming for further reduction by 2030. - Power: Baseline lower than regional average, aiming for significant reduction by 2030 based on a net zero emissions pathway.

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📊🌿 Palm Complex – CPO (Aug ‘24): Market Insights 🌿📊 Neutral Trend Alert 🚦Currently observing a Neutral Trend for Crude Palm Oil (CPO) futures for August 2024. Key support level stands at RM 3,825. Here’s a brief overview of the strategy: 🔹 Sell on Breakout: Consider selling if the price breaks below the key support level of RM 3,825. 🔹 Resistance Level: Watch out for the next resistance at RM 4,075. 🔹 Trade Recommendation: No directional trades are advised at the moment. It's prudent to wait for a clear breakout below RM 3,825 before making any moves. Stay tuned for more updates and market insights! #commoditiescontrol #PalmOil #MarketTrends #CPO #TradingStrategy #CommoditiesTrading #InvestmentStrategy #MarketAnalysis #FinancialMarkets CPO (Aug ‘24)—Trend remains Neutral until we close below RM 3,825. Disclaimer: There is a risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services LLP cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.

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Basic Economic Update 📈📉 In March, Malaysia’s exports contracted marginally by 0.8% to MYR128.6 billion 📉 while imports expanded by a robust 12.5% to MYR115.8 billion 💼 on an annual basis. As a result, the trade balance shrank 52% to MYR12.8 billion as compared to the same month last year. That said, it also represents the 47th consecutive month of surplus since May 2020. #ConnectwithBPAM #MalaysiaEconomy #TradeBalance #EconomicNews #ExportImport #Macroeconomics #MalaysianNews #Malaysia

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Bank Muamalat's Chief Economist, Encik Mohd Afzanizam Abdul Rashid, forecasts that gold prices are currently high due to profit-taking by investors, potentially reaching $2,147.49 per ounce by year-end. He expects gradual interest rate cuts by the US Federal Reserve (Fed) and views gold as a safe haven during economic uncertainty and rate reductions. Global crises like the Gaza conflict, Ukraine tensions, and the US-China trade war could exacerbate economic polarisation, leading to sustained inflation. Despite caution regarding short-term fluctuations, he projects long-term gold price growth to be between $2,500 and $3,000 per ounce over the next five to ten years. Read the full article at https://lnkd.in/gyinMGfU

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On Market View today: Eyes on US PCE numbers this week; DBS’s green loan to ComfortDelGro, sale of shophouses; Wilmar International subsidiary’s tank terminal facility hit by missile; Sheng Siong’s capital allocation priorities; SGX earnings season lookahead; Tencent shares rallies most since Feb; Tesla cuts prices, Chery Automobile sets up plant in Thailand; US earnings lookahead: Meta, Microsoft, Alphabet, Meta, PepsiCo, Tesla Singapore shares inched up at the opening bell this morning, eking out a gain despite subdued performance in global markets. In early trade, the Straits Times Index (STI) rose 0.1 per cent to 3,180.07 points after 38 million securities changed hands in the broader market. In terms of companies to watch, we have DBS. The bank has put up for sale a portfolio of 46 HDB shop and shophouse units, and private strata retail units with a total guide price of about S$210 million. Elsewhere, from a lookahead to the latest earnings season in Singapore and the US, to Tencent Holdings staging their biggest rally since February – more corporate headlines remain in focus. Glad to unpack the developments with David Kuo, Co-founder, The Smart Investor. Many thanks to Mr Kuo for joining us on MONEY FM 89.3! Catch the podcast episode on Awedio, Apple podcast and Spotify at the links below. Podcast links: https://lnkd.in/gRphXTAC https://lnkd.in/g3rvP5uP https://lnkd.in/gNy7tPAq #singapore #sgx #sti #stockmarket #us #inflation #tightening #cooling #federalreserve #fed #interestrates #ratecut #bank #earnings #pce #personalconsumptionexpenditures #dbs #greenloan #comfortdelgro #decarbonisation #ulk #sale #shophouse #wilmarinternational #tankterminalfacility #shengsiong #capitaldeployment #sgx #earnings #tencent #rally #game #debut #tesla #pricecuts #cheryautomobile #thailand #usearnings #meta #microsoft #alphabet #amazon #meta #pepsico #tesla

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Mr. Paul Wong Chee Kin, President and Chief Executive Officer, CIMB Thai Bank PCL (CIMB Thai) commented on the unreviewed consolidated financial results for the three months ended 31 March 2024. CIMB Thai recorded a consolidated net profit of THB 626.1 million, a year-on-year (“YoY”) decline of THB 204 million or 24.6%, while profit before tax (“PBT”) decreased by THB 247.9 million or 23.9% YoY to THB 790.2 million. This was mainly from an 8.4% decline in operating income and 11.8% increase in operating expenses, partially offset by a 36.9% decline in expected credit loss (ECL). On a YoY basis, CIMB Thai’s consolidated operating income contracted by THB 322.7 million or 8.4% from 2023 to THB 3,506.1 million from lower net interest income of THB 28.8 million (lower by 1.2%). This was driven by an increase in interest expenses on deposits and lower net fee and service income of THB 26.2 million or 8%, mainly attributed to higher fee and service expenses. Other operating income decreased by THB 267.7 million or 23.1%, mainly from lower gains on investment, as well as lower gains on sale of non-performing loans. Operating expenses rose by THB 231.7 million or 11.8%, mainly from higher impairment loss on properties for sale and related taxes and duties. This resulted in a higher cost to income ratio of 62.5% in 3M2024 compared to 51.2% in 3M2023. Net interest margin (NIM) over earning assets stood at 2.2% in 3M2024, compared to 2.6% in 3M2023, as a result of higher cost of funds. Read more: https://lnkd.in/gG8yX_YF #CIMBTHAI15Years #GrowingForward #CIMBTHAIBANK #ธนาคารซีไอเอ็มบีไทย #MOVINGFORWARDWITHYOU

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Sarawak in Malaysian Borneo has an abundance of rainfall and rivers, and powers its transport network with hydrogen. Exporting the fuel is its next goal

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PETRA’s Strategic Renewable Energy Certificate Initiative Asia Carbonx Change very much supports PETRA advocacy to maintain Peninsula Malaysia RECs within our borders and contractually bind our traders with similar terms as purchasing by MNCs is generally done via their regional Corporate Headquarters in Singapore thus ensuring RECs are retired with Malaysian Corporate Businesses. Asia Carbonx Change is excited as being a registered Registrant and Participant with I-Track and soon on BCX , in leading the expansion of Malaysia's unbundled REC market. Under our Founder and CEO Nirinder Singh , we deploy a multifaceted strategy focusing on education, partnerships, technology, and policy advocacy to foster a sustainable energy future. Nirinder also has a column on Demystifying Sustainability monthly on Starbiz. Visit our website www.asiacarbonxchange.org Education and Awareness: We regularly attend seminars, board room discussions and soon webinars to educate corporate corporations and the public on the benefits of REC esp. unbundled RECs. These initiatives demystifies the REC acquisition processes and showcase their role in corporate sustainability, increasing understanding and adoption. We have also actively participated in enhancing the unbundled RECs market for Biogas and Biomass by discussions with MPOB. Partnership Development: Collaborating with Renewable Energy Photovoltaic Investors (RPVI's) and technology firms like Opensys, we enhance the value chain from REC production to market delivery. Our partnerships also innovates our carbon offering to include co-generation and waste heat recovery, waste to energy solutions , meeting diverse industry needs. Technological Integration: In collaboration with Opensys, we are developing a platform that simplifies smaller REC asset management, making it easier for smaller asset owners and residential sectors to engage in the REC market. This technology supports the efficient tracking and management of REC assets and broadening market participation. We are presently working with 360 residential homes in Peninsula and Thailand with Solar Re Assets. Policy Advocacy: As market leaders, we work closely with governmental bodies to influence favorable REC policies and participate in consultancy roles, like with the ASEAN Centre of Energy, to develop regional REC framework for BIMP - EAGA market. This advocacy ensures that REC benefits are integrated into national and regional sustainability strategies. Through these strategic efforts, Asia Carbonx Change not only participates in but drives the REC market towards achieving greater RE sustainability. Our commitment to innovation and leadership in environmental stewardship, positions us as a boutique consultancy at the forefront of ASEAN's green energy transition. As we continue to lead and innovate, Asia Carbonx Change remains your trusted partner in achieving green energy objectives and fostering a sustainable world.

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