28/03/2025

FRIDAY | MAR 28, 2025

16

BIZ & FINANCE

BIZ & FINANCE

PPI records modest increase in February

Oasis Home to list on ACE Market in May

KUALA LUMPUR: Oasis Home Holding Bhd, an omni-channel consumer lifestyle products marketer and seller, is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Bhd in May. In a statement yesterday, Oasis Home said the group’s initial public offering (IPO) exercise encompasses a public issuance of 100 million new ordinary shares, representing approximately 20% of its enlarged shares, as well as an offer for sale of 50 million existing shares or 10% of its enlarged shares. “Out of the 100 million shares, 25 million shares will be made available to the Malaysian public via balloting, 10 million shares to its directors and employees who are eligible to participate in the IPO (pink form allocations), 62.50 million shares will be made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry while the remaining 2.50 million shares will be made available by way of private placement to selected investors. “The 50 million offer shares will be made available by way of private placement to selected investors,” it said. For the financial year ended June 30, 2024, Oasis Home said its live commerce sales channel contributed RM41.47 million or 75.65% of the group’s total revenue of RM54.82 million. Oasis Home has entered into an underwriting agreement with MIDF Amanah Investment Bank Bhd, which will underwrite a total of 35 million shares allocated to the Malaysian public and pink form allocations. MIDF Amanah Investment Bank is the principal adviser, sponsor, underwriter, and placement agent for the IPO. – Bernama Solarvest to be prime beneficiary of large-scale solar contracts: HLIB KUALA LUMPUR: Hong Leong Investment Bank Bhd (HLIB) sees Solarvest as the prime beneficiary of two large scale solar (LSS) programmes – the LSS5 it secured in Seberang Perai, Penang worth RM103.1 million and the rollout of the LSS6 programme over the next 24 months. The Seberang Perai job is an engineering, procurement, construction and commissioning (EPCC) contract for a solar photovoltaic energy generating facility while the LSS6 involves a developer as well as EPCC works. In a research note, HLIB said the EPCC value for the three LSS programmes could total RM15 billion to RM18 billion, which would lengthen the company’s order book growth cycle. It said the latest contract win in Seberang Perai comes hot on the heels of last week’s contract award, bringing Solarvest’s outstanding orderbook to RM1.38 billion. “The company’s orderbook has grown by 57% the past three months buoyed by LSS5 EPCC contract cycle. “We continue to foresee orderbook growth opportunities in the near term from the LSS5 programme,” it said. HLIB maintains a “Buy” on the counter. – Bernama

PUTRAJAYA: Malaysia’s Producer Price Index (PPI), which measures price changes at the producer level, recorded a year-on-year increase of 0.3% in February 2025, easing from the 0.8% rise registered in January 2025. The moderated increase was influenced by continued expansion in the agriculture, forestry & fishing sector, despite a decline in the mining sector. Chief Statistician Malaysia, Datuk Sri Dr Mohd Uzir Mahidin said, “The agriculture, forestry & fishing sector remained the primary driver of PPI local production, recording a 15.2% increase year-on-year, as compared to 16.5% rise in January 2025. The growing of perennial crops sub-sector led the growth, rising by 26.1%. “However, the mining sector continued to contract, registering a decline of 9.7% (January 2024: -1.3%), with decreases in extraction of crude petroleum (-9.8%) and extraction of natural gas (-9.4%). “The manufacturing sector recorded a marginal decline of 0.3%, from the previous month’s contraction of 0.6%. “The largest downward was attributed to manufacture of coke & refined petroleum products (-12.7%) and manufacture of computer, electronic & optical products (-3.2%). “Meanwhile, the electricity & gas supply sector recorded a slight decline of 0.2%, whereas the water supply sector continued its positive trend with a 2.9% increase.” On a month-on-month basis, he added PPI local production recorded a slight increase of 0.1% in February 2025, easing from 0.3% in January 2025. “The agriculture, forestry & fishing sector increased by 1.4% from a decline of 3.9% in the previous month, supported by an increase in fishing (5.9%) and growing of perennial crops (1.6%). “The manufacturing sector rising by 0.3% maintaining the same pace as in the previous month, mainly due to manufacture of coke & refined petroleum products (0.9%) and manufacture of food products (0.7%). o Rise of 0.3% y-o-y driven by agriculture, forestry and fishing sector’s continued expansion KUALA LUMPUR: Glomac Bhd, a property developer with multiple developments in Greater KL, Selangor and Johor, recorded an unaudited revenue of RM33.7 million and profit before tax (PBT) of RM3.3 million for the third quarter of its financial year ending April 30, 2025 ( 3Q FY2025). In the first nine months of the financial year ending April 30, 2025 (9M FY2025), Glomac reported a revenue of RM163.4 million, driven by steady construction activities at the Group’s ongoing developments, including Saujana Perdana and contribution from its two high-rise residential developments, namely 121 Residences as well as Plaza@Kelana Jaya. Notably, PBT grew by 65% to RM21.4 million from RM13 million in 9M FY2024, mainly driven by stronger profit margin as a result of a favorable product mix with higher-margin developments, as well as gains from disposal of

supplies & components index declined by 0.1%. A comparison of selected countries showed mixed trends in the PPI for February 2025. The United States’ PPI increased by 3.2%, slowing from the 3.7% rise in the previous month. Japan’s PPI also increased by 4.0%, slightly lower than the 4.2% increase in January 2025, primarily driven by transport equipment and petroleum & coal sectors. In contrast, China’s producer prices continued to decline by 2.2% following a 2.3% drop in the preceding two months. This marked the slowest decrease since August 2024. However, producer deflation persisted for the 29th consecutive month, influenced by commodity price fluctuations and the impact of the Lunar New Year break in late January 2025. offices, which had a combined GDV of RM71 million and were fully sold in early 2024. Additionally, the first phase of double-storey terrace houses at Serai@SBCR, introduced in August 2024 achieved near full sales within just three months. Upcoming projects include additional residential phases within the group’s established townships including Lakeside Residences, Saujana KLIA, and Saujana Jaya in Kulai, Johor, collectively carrying an estimated GDV of RM298 million. Glomac has strengthened its capital structure through its Sukuk Wakalah Programme, which provides a funding capacity of up to RM3.0 billion. With a strategically located landbank of future development with an estimated future GDV exceeding RM7 billion, Glomac is poised to capitalise on growth opportunities and further expand its development footprint.

in extraction of natural gas (-3.5%) and extraction of crude petroleum (-3.2%). “In the utilities sector, the electricity & gas supply sector increased by 0.3%, while the Water supply sector experienced a decline of 1.8%.” On the PPI local production by stage of processing, Mohd Uzir said crude materials for further processing and intermediate materials, supplies & components indices remained unchanged on a year-on-year basis. Meanwhile, he added the finished goods index recorded a slight increase of 0.7%, supported the capital equipment index (1.7%). On a month-on-month basis, both crude materials for further processing index and finished goods indices recorded a moderate increase of 0.3%. However, the intermediate materials, investment properties, and reduced finance cost. Glomac said it maintains a solid financial position, with negligible net gearing of 0.03 times, backed by shareholders’ equity of RM1,198.5 million. As of end-January 2025, cash and deposits remained robust at RM248 million, ensuring ample liquidity to support the group’s ongoing development initiatives. Additionally, Glomac’s net asset value per share stood at RM1.56, reflecting a price-to-book ratio of approximately 0.23 times. During the quarter under review, Glomac launched new phases of shop offices at Saujana Perdana, with a total estimated gross development value (GDV) of RM125 million. The market response was strong, with nearly 60% of units sold as of end-January 2025. This latest commercial phase builds on the success of its earlier phases comprising 81 shop

“Conversely, the mining sector declined by 3.2% (January 2025: 5.3%), affected by decreases Glomac’s nine-month profit before tax rises to RM21.4m