13/02/2026

BIZ & FINANCE FRIDAY | FEB 13, 2026

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Tomei rolls out GoldNow, targets new wave of buyers

Investment banks upbeat on Sime Darby KUALA LUMPUR: Investment banks remain positive on Sime Darby Bhd’s outlook based on the company’s new strategic roadmap, which focuses on inventory opti misation, manpower rationalisation, network streamlining and debt repayment. In a note yesterday, Hong Leong Investment Bank Bhd said Sime Darby is well-positioned to leverage the growth of Australia’s mining sector and regional data centre developments, as well as sustaining UMW Holdings Bhd’s contribution. “On industrial segment, the outlook remains robust, supported by strong demand for heavy equipment and after-sales services in Australia’s mining sector amid elevated commodity prices.” In addition, it said the segment is well-positioned to benefit from the accelerating development of data centres in Malaysia, Singapore, and China, as Caterpillar is a leading global supplier of power systems. The investment bank maintained its “buy” recommendation with an unchanged target price (TP) of RM2.50, based on a 15% discount to the sum-of-parts (SoP) of RM2.94, with further upside to its conservative TP. Kenanga Investment Bank Bhd, in a separate note, said it applied a higher price-to-earnings ratio (PER) of 13 times, up from eight times, to Sime Darby’s industrials segment. It said this PER is at a 50% discount to Caterpillar US’s fiscal year 2027 forecast PER of 26 times. “The higher valuation reflects significant investments by its clients over the next five years, including BHP Group Ltd, Rio Tinto Group, and recent US-Australia investments. Kenanga Investment said it raised its SoP-derived TP on Sime Darby by 42% to RM2.70 from RM1.90, and improved its call to “outperform” from “market perform”. – Bernama filtration system and ionised-air can rinsing technology, which reduced filtration water use by 26% and canning water use by 38%. On sustainability, the brewer improved its FTSE4Good ESG score to 3.8 from 3.6 and maintained its MSCI ESG rating at AA, positioning it as a “Leader” among 80 global beverage companies. Brewery carbon emissions improved to 2.75 kgCO2e per hectolitre from 2.8 previously, while water usage declined to 2.66 hl per hl of beer from 2.9. The group also recorded 351 days of zero lost-time accidents and recycled 96% of bottles collected. Clini said the company remains committed to its net-zero carbon ambition by 2040 and will continue to exercise cost vigilance while strengthening long-term resilience through brand investments, brewery upgrades, and digital transformation. - By DEEPALAKSHMI MANICKAM

KUALA LUMPUR: Tomei Consolidated Bhd is stepping up its digital push with the launch of GoldNow, a syariah compliant mobile application that allows users to accumulate physical gold from as little as 0.1g, as elevated gold prices reshape consumer buying behaviour. Tomei Digital Sdn Bhd CEO Chia Geh Yang said the platform stands apart from other digital gold offerings by combining online accumulation with physical redemption at Tomei’s retail outlets. “In the market, there is a cluster of competitors doing paper gold or gold savings products, and another group selling physical gold. To combine both, we haven’t seen one,” he said at the launch of the app yesterday. “We are selling real gold instead of paper gold. We are a listed company with a long-standing presence in Malaysia, so trust is established. Once customers buy, redeem and walk into the store to collect their gold, that positive experience removes the doubt.” GoldNow enables users to track their holdings digitally and redeem their gold in-store, creating what the group describes as a seamless ecosystem between its app and more than 60 outlets nationwide. Redeemed gold can be stored via Tomei’s safe deposit box service, My Jewel Box. o Syariah-compliant mobile app addresses affordability issues, aims to attract younger consumers Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

From left: Tomei group head of marketing Lam Kok Wah, Chia, Ng, group head of transformation office Ng Yi Jia and group financial controller Tan Syn Wooi at the launch of GoldNow.

formation, which accelerated during the Covid-19 pandemic, when retail operations were disrupted. The group invested in training and structural changes to digitise processes across the organisation, including initiatives such as live stream selling, which gained traction during lockdowns. “The hardest part of digital transformation is not technology, it’s the people,” Chia said. “If they truly believe in it and use it, that’s when transformation achieves its true value.” Tomei, with 58 years in the gold and jewellery industry, said GoldNow marks its next phase of growth, bridging traditional retail strengths with digital accessibility to widen participation in gold ownership. The board proposed a final dividend of 43 sen per share, bringing the total FY25 dividend to 111 sen, representing about a 90% payout and a total distribution of RM131.5 million. On outlook, Clini said the group remains cautious amid macro economic uncertainties and the impact of the excise duty imple mented in November 2025. On investments, Carlsberg has allocated RM77 million over two years to upgrade its enterprise resource planning system to Microsoft Dynamics 365 under its “Smart Core” initiative, with com pletion targeted for the third quarter of 2026. Separately, the group has invested RM277 million in production up grades, including a beer membrane

on a strong upward trend since the pandemic, driven by geopolitical tensions and global uncertainties. “The higher the gold price, the more it reflects people’s concern about the future,” he said, adding that ongoing geopolitical develop ments suggest continued uncertainty ahead. However, rising prices have also made jewellery significantly more expensive. A 20g gold bangle can now cost close to RM20,000, posing afford ability challenges as income growth has not kept pace with bullion prices. “That’s why gold should be looked at long term. It has always been perceived as a hedge,” Ng said. The launch of GoldNow is part of Tomei’s broader digital trans

Chia said the app aims to address affordability concerns amid high bullion prices. “With the gold price so high now, many people ask, should I buy or should I not buy? I don’t have a crystal ball to tell you whether gold will increase or decrease tomorrow. “The right way to grow wealth is to buy consistently in quantities you can afford. Growing wealth is about discipline. We want to give consumers a platform to cultivate that habit.” By allowing purchases from 0.1g, the group is targeting younger consumers and first-time buyers who may have been deterred by the higher upfront cost of physical gold. On industry prospects, Tomei group managing director Datuk Ng Yih Pyng said gold prices have been

Carlsberg Malaysia posts record FY25 net profit, remains cautious on outlook SHAH ALAM: Carlsberg Brewery Malaysia Bhd will remain responsive to market dynamics and competition in both Malaysia and Singapore, particularly as consumption be haviour continues to evolve. to support domestic spending, which may in turn have a positive impact on consumer demand for our products.” Carlsberg posted a proved in both markets, up 8.5% in Malaysia to RM380.2 million and 6% in Singapore to RM69.6 million, reflecting margin expansion during the year. In the fourth quarter, record-high profit for FY2025, despite lower sales due to the shorter Chinese New Year timing and subdued consumer sentiment.”

record net profit of RM375.6 million for the financial year ended Dec 31, 2025, up 11.4% year on-year, despite revenue slipping 4.9% to RM2.3 billion amid weaker consumer sentiment and unfavourable festive timing.

revenue fell 10.8% to RM523.6 million due mainly to the later 2026 Chinese New Year and lower distri butor stocks at year-end. Nevertheless, net profit jumped 22% to RM96.2 million, driven by lower operating costs. Segment performance showed premium sales down 7% and mainstream down 4% year-on-year, while alcohol-free brews dropped sharply by 47%. However, Sapporo recorded double-digit volume growth in Malaysia and Singapore. Clini said the group delivered “a resilient set of results” despite a challenging operating environment. “We are pleased to have achieved

Managing director Stefano Clini ( pic ) said the brewer is also mindful of the impact of excise duty and broader economic uncertainties. “That said, we will continue to improve our bottom line in a disciplined manner while investing in our brands and capabilities,” he said during a media briefing on Wednesday. To note, Budget 2026 introduced a 10% excise duty increase on all alcoholic beverages, effective Nov 1, 2025. With the revision, the duty rose to RM192.50 per litre of pure alcohol, applying to both imported and locally manufactured products. Clini said the Visit Malaysia 2026 campaign could provide a potential uplift. “We expect tourism activities

Profit from operations rose 8.1% to RM449.7 million, supported by price increases, value management initiatives and continued cost opti misation efforts. Earnings per share climbed to 122.86 sen from 110.25 sen previously. Malaysia’s revenue declined 3% to RM1.7 billion, while Singapore’s revenue fell 10.2% to RM560.4 million. However, operating profit im