03/06/2025

BIZ & FINANCE TUESDAY | JUNE 3, 2025

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Asean currencies to rise amid weak USD

o Trump’s protectionism, weak-currency preference, and tax plans have contributed to recent declines in the greenback

Agmo sees strong FY25 growth on digital demand PETALING JAYA: Agmo Holdings Bhd, a homegrown digital solutions and application development specialist, announced its financial results for the financial year ended March 31, 2025 (FY25), delivering its strongest annual performance on record. The group recorded a steady year-on-year revenue growth of 9.3% to RM38.5 million from RM35.23 million in FY24. The improvement was mainly driven by sustained demand for its bespoke digital solutions services and the maiden revenue contribution from its e-invoicing middleware solution JomeInvoice, in line with Malaysia’s phased implementation of e-invoicing from August 2024. Development of bespoke digital solutions continued to dominate the group’s revenue mix, generating RM33.23 million and accounting for 86.3% of total revenue in FY25. The remaining revenue was derived from provision of subscription, hosting, technical support and maintenance services which contributed RM3.14 million (8.2%), and provision of digital platform based services at RM1.9 million (5%). On the back of higher topline performance, Agmo’s profit before tax (PBT) rose by 28.5% to RM12.16 million compared with RM9.46 million in FY24. Profit after tax (PAT) increased to RM9.2 million from RM7.84 million a year ago, marking the group’s highest ever annual earnings, despite higher tax expenses incurred in FY25. To deliver sustainable value, the board declared a 1.5 sen interim dividend per share for FY25. Looking ahead to FY26, the company plans to enhance its product and service portfolio further, prioritising emerging technologies like generative AI driven sovereignty solutions and sustainability-focused digital offerings. This focus aims to position the company as a leader in innovation while ensuring continued growth and relevance in an evolving market landscape. “Any bounce in the US dollar should be seen as a short-term unwinding of short positions rather than a bullish reversal to chase,” it added. Maybank Investment Bank also noted that Asean’s efforts to reduce reliance on the US dollar remain limited. “Adoption of local currencies for trade invoicing remains low, while central banks appear only to have engaged in some diversification of their reserves and assets. “There have been increasing inflows into bonds, but we do not believe this is driven by Asean’s own desire to exit the US dollar or US assets,” it added. – Bernama

slowing US economy, expected Federal Reserve rate cuts, and the potential for global growth to exceed currently pessimistic forecasts. “We see a possibility of a virtuous circle for Asian currencies, especially with a bearish US dollar allowing regional central banks to cut interest rates further to boost growth, which could in turn be positive for regional currencies,” it added. The investment bank cautioned the market to watch for any signs of trade deals that could be short-term positives for the US dollar and negatives for safe havens such as gold, the Swiss franc, and, to some extent, the Singapore dollar and Thai baht, given the latter’s link to gold.

which had surged across asset classes, has only recently begun to ease. The bank said Trump’s unpredictability may continue to inject volatility into financial markets. Unlike in previous bouts of risk aversion, the US dollar has been most visibly punished, in line with the prevailing “Sell America” narrative. “We suggest continuing to sell the US dollar on rallies if the US continues to push its agenda of tariffs,” it said. Maybank IB said even as the “Sell America” theme fades, the dollar’s downtrend could persist well into the second half of 2025, driven by a

KUALA LUMPUR: Asean currencies are expected to appreciate further this year as global investors diversify away from heavy US exposures, said Maybank Investment Bank Bhd (Maybank IB) yesterday. The investment bank noted that all major Asean currencies — including the ringgit, Singapore dollar, Indonesian rupiah and Thai baht — are likely to strengthen in 2025.

“However, while this may occur, we are not yet convinced there is sufficient evidence of a real structural shift away from the US dollar,” the bank said in a research note. Maybank IB said President Donald Trump’s protectionist stance, speculated preference for a weaker dollar, and tax proposals have contributed to recent declines in the greenback. Market volatility,

Mag Holdings hits record RM213.6m revenue in 9M’25 PETALING JAYA: Mag Holdings Bhd, a prawn aquaculture player, listed on the ACE Market of Bursa Malaysia Securities Bhd, recorded a 13.5% increase in revenue to RM74.7 million in its financial results for third quarter, compared to RM65.8 million in the corresponding quarter last year. 16.7% to RM8.8 million, while net profit increased by 32.5% to RM8.6 million, supported by lower unrealised foreign exchange losses. to Dec 31, 2025 (18M’25). For the 9-month period ended March 31, 2025 (9M’25), the group delivered a robust performance, posting a 30.1% increase in revenue to RM213.6 million, up from RM164.2 million in the corresponding period last year. The strong topline growth was driven by sustained business momentum and healthy market demand. RM30.3 million, while net profit grew 50.4% to RM29.8 million, boosted in part by a favourable foreign exchange environment. These results reinforce the group’s strong earnings trajectory and its ability to capitalise on operational strengths and market opportunities to drive consistent, profitable growth.

On May 23, 2025, the board of Mag Holdings approved to change the financial year-end from June 30, to Dec 31. The change aims to ensure that future financial reporting aligns with the existing financial year-end of the newly acquired farms, which is expected to impact the nature and timing of their operations. Following the change, the next set of audited financial statements will cover a period of 18-month from July 1, 2024

The revenue growth was mainly driven by higher sales volumes and improved average selling prices. Gross profit increased 53.1% to RM19.8 million, with gross profit margin bolstered by effective cost management and improved efficiency. The group’s profit before tax (PBT) rose

As of March 31, 2025, Mag Holdings maintained a strong balance sheet with a net cash position of RM18.2 million and a healthy current ratio of 2.3x. Shareholders’ funds totalled RM864.3 million, underscoring the group’s solid financial position.

Gross profit surged 50% to RM52.9 million, reflecting the benefits of improved scale of operations, cost efficiency, and disciplined margin management. PBT rose 34.5% to

Robust manufacturing activity helped cushion the impact of softer trading and engineering services during the quarter. – SWIFT WEBSITE

Swift Energy sees 35.4% revenue surge in Q2’25 SHAH ALAM: Swift Energy Technology Bhd, an industrial automation and power systems provider, recorded revenue of RM33.05 million, an increase of RM8.64 million or 35.4% for its financial results for the second quarter ended March 31, 2025 (Q2’25), compared to the immediate preceding quarter (Q1’25). engineering services segments. On the earnings front, profit before tax (PBT) rose 59.3% to RM5.7 million, while profit after tax (PAT) climbed 60.7% to RM4.61 million compared to the previous quarter, both in line with the pick-up in manufacturing operations.

Ghana, Australia, Papua New Guinea, Zambia and Indonesia. CEO Tan Bin Chee said they remain optimistic and positive about the group’s outlook, underpinned by clear growth trends in both industrial automation and renewable energy sectors. He added that while they remain mindful of macroeconomic and geopolitical uncertainties, they will continue to pursue new business opportunities and create long-term value for their stakeholders.

revenue, followed by the trading segment at RM10.42 million or 18.1%, and engineering services at RM3.6 million or 6.3%. Geographically, Malaysia remained the group’s largest revenue contributor at RM21.11 million, accounting for approximately 36.7% of total revenue in 1H’25. This was followed by China at RM13.31 million (23.2%), Singapore at RM9.06 million (15.8%), with the remaining revenue derived from other markets including but not limited to Thailand, Vietnam,

For cumulative six-month period ended March 31, 2025, the group achieved total revenue of RM57.46 million. Segmentally, the manufacturing division contributed RM43.44 million or 75.6% of total

The improvement was primarily attributed to higher manufacturing activities during the quarter, which helped cushioned the softer performance from the trading and