24/02/2026

BIZ & FINANCE TUESDAY | FEB 24, 2026

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Sports Toto posts stable first-half revenue growth

tariff pathways are activated. “Domestically, potential semicon ductor tariffs remains the key risk for Malaysia, particularly as the Trump administration shifts toward alter native tariff pathways. “The 15% rate is slightly lower than Malaysia’s previous 19% reciprocal tariff. That said, the administration has indicated it will utilise the 150-day window to issue other ‘legally permissible’ tariffs,” it said. – Bernama Iconic Worldwide in the red for Q2 on higher finance costs PETALING JAYA: Iconic Worldwide Bhd recorded a net loss of RM870,000 for the second quarter ended Dec 31, 2025 (FY26), compared with a net profit of RM1.76 million in the same quarter last year. In a Bursa Malaysia filing, the group said the loss was mainly due to lower profit before interest and tax (PBIT) and higher finance costs, as the company drew more from its financing facilities to fund ongoing property development projects. The group’s revenue rose to RM14.52 million for the current quarter and RM30.52 million for the cumulative period, compared with RM11.16 million and RM23.48 million a year earlier. The increase was mainly driven by contributions from its new short-term lodging business under the hospitality segment, as well as stronger sales of baby care products under the manufacturing segment. The group posted an operating profit of RM0.19 million for the quarter and RM0.75 million for the cumulative period. This compares with an operating loss of RM0.54 million in the same quarter last year and an operating profit of RM0.59 million for the corresponding cumulative period. The improvement was largely due to a roughly 30% increase in revenue for both the quarter and the cumulative period. Iconic Worldwide recorded a profit before interest and tax (PBIT) of RM0.33 million for the current quarter and RM1.39 million for the cumulative period. This compares with PBIT of RM3.05 million and RM6.25 million, respectively, in the same periods last year. The higher PBIT previously was mainly due to gains from the disposal of fully impaired assets. In the filing, Iconic Worldwide expects its property development segment to remain the main contributor to its financial per formance, with its current project on track for completion in 2027. The hospitality segment, which manages residential properties under a shared economy model, is also expected to contribute posi tively. Meanwhile, the manufacturing segment will support performance through more aggressive mar keting this financial year.

The segment is well-positioned to benefit from the continued recovery of the aviation sector while expanding its engineering solutions portfolio. Pos Logistics said it remains focused on executing its turnaround strategy, with emphasis on market share gains, operational optimisation, and improved utilisation of existing assets. On outlook, Pos Malaysia said while market and regulatory con ditions are expected to remain challenging, the group is cautiously optimistic about delivering continued improvements in FY26. and increased operating expenses attributed to statutory employment cost particularly associated with the newly implemented UK labour regulations. The board has declared a second interim dividend of 3 sen per share, amounting to about RM39.65 million, for the financial year ending June 30, 2026, based on shares with voting rights as at Feb 13. The dividend is payable on April 17 and the entitlement date is set on March 27. The total dividend distribution for FY26 is about RM66.17 million. In a statement, the group said SPToto remains cautiously optimistic that its business will remain stable and resilient. The number forecast operation (NFO) business is expected to sustain a growth trajectory, supported by the popularity of its jackpot and digit games. The directors remain confident that SPToto will continue to maintain its leading market position in the legalised NFO business sector. Despite the geopolitical and global economic uncertainties, the group’s businesses are anticipated to continue delivering a stable and positive outlook for the remaining quarters of the financial year ending June 30, 2026.

o Board declares second interim dividend of 3 sen per share

Revenue for the quarter increased to RM467.80 million compared to RM458.63 million in Q4 FY24. For FY25, revenue slipped to RM1.83 billion compared to RM1.85 billion posted in FY24. However, the net loss for FY25 widened by 3.26% to RM209.26 million from RM202.66 million in FY24. Group CEO Charles Brewer said FY25 reflects the resilience of the group’s core operations and the continued results of the trans formation efforts it has implemented. “We are seeing positive mo mentum in parcel volumes, improve ments in operational efficiency, and steady progress in modernising our KUALA LUMPUR: Apex Securities Bhd is maintaining its cautiously optimistic stance on Malaysia’s trade outlook, and believes that the trade momentum will be sustained after January’s strong export print. In a statement yesterday, the firm said the outlook is underpinned by a steady global growth backdrop, resilient US demand and robust global semiconductor growth amid the artificial intelligence-led tech upcycle. PETALING JAYA: Sports Toto Bhd (SPToto) posted revenue of RM1.47 billion for the second quarter ended Dec 31, 2025 (Q2 FY26), showing a marginal decline of 0.3% compared to revenue of RM1.48 billion in Q2 FY25. The group’s pre-tax profit dropped by 9.9%, from RM82.6 million in the same quarter last year to RM74.4 million in Q2 FY26. This was mainly attributed to the performance of HR Owen Plc. For Q2 FY26, STM Lottery Sdn Bhd achieved a revenue growth of 3.3%, primarily driven by an improvement in average sales per draw, higher accumulated jackpot prizes in Lotto games, and an additional draw in Q2 FY26, which was 42 draws versus 41 draws. The pre-tax profit increased by 1.6%, primarily reflecting the combination of stronger sales and lower prize payout in Q2 FY26. HR Owen’s revenue eased 1% for Q2 FY26, mainly attributed to softer new car sales, but partially mitigated by increased revenue from the used car sector. Vehicles’ product life-cycle factors, along with transition gaps

STM Lottery and HR Owen. STM Lottery registered a revenue growth of 4.3% for the 6M of FY26. The sales growth was largely attributed to higher average sales per draw, driven by increased interest in the Jackpot games, as well as an additional draw in the current period, bring ing the total to 82 draws versus 81 draws. However, pre-tax profit dropped by 8.7%, mainly due to higher prize payout and higher operating expenses incurred in the current period. HR Owen recorded revenue growth of 1% in the current period, primarily driven by higher sales volume in the used-car sector. However, when translated into ringgit, its revenue dropped by 0.7%, mainly due to unfavourable foreign exchange effect. It reported a pre-tax loss of RM25 million for 6M FY26, compared with a pre-tax loss of RM19.3 million in 6M FY25, resulting from margin pressure with end-of-product-life-cycle vehicles

between new-model launches, led to lower sales in the new-car sector. When translated into ringgit, the group’s reporting currency, revenue

reduction was 3.4% due to the unfavour able foreign exchange effect. It reported a pre tax loss of RM15.6 million for Q2 FY26, compared to a pre-tax loss of RM7.8 million in Q2 FY25. The higher pre-tax

loss was in line with the drop in revenue, coupled with increased operating expenses amid chal lenging economic conditions and the effects of newly implemented labour regulations in the United Kingdom. For the six-month period of FY26 (6M FY26), the group’s revenue increased 1.6% to RM2.97 billion from RM2.92 billion in the same period last year, boosted by higher sales from STM Lottery. However, the group’s pre-tax profit fell 20.9% to RM119.5 million from RM151.1 million in 6M FY25, mainly due to the softer performance of the

Pos Malaysia delivers narrower net loss for Q4 PETALING JAYA: Pos Malaysia Bhd’s net loss for Q4 ended Dec 31, 2025 (FY25), narrowed to RM77.09 million from RM77.15 million posted in the corresponding quarter last year. nationwide network. “Our focus is on delivering consistent service excellence, en hancing customer experiences, and regulatory-related challenges. In response, Pos Malaysia is advancing the modernisation of its core mail and retail services through

several proof-of-concept initiatives designed to test new business models – models that ensure it can continue to deliver for Malaysia while re flecting changing needs

building a more sus tainable, future-ready Pos Malaysia,” he said in a statement. Pos Malaysia’s parcel segment recorded full year volume growth of 9%,

of customers. The group continues to engage closely with the government, regulator and policymakers to deliver a fit-for-future Postal Services Act and a sustainable approach to delivering the Universal Service Obligation. Meanwhile, Pos Aviation recorded improved performance in FY25, supported by increased passenger traffic and higher demand for ground and cargo handling, and in-flight catering services. forecast at 4.8% year-on-year (y-o-y) and 2026 gross domestic product (GDP) forecast at 4.7% for now, pending greater clarity on the tariff developments. “On the monetary front, we see no urgency for Bank Negara Malaysia (BNM) to adjust the policy rate amid still-fluid trade dynamics, with BNM likely to maintain a wait-and-see approach,” it added. Apex Securities views the slow

supported by strong growth from e commerce players and service-led market share gains across the rest of the sector. The group continues to prioritise profitable volume growth and network optimisation, while main taining a disciplined balance between customer experience, operational efficiency, and cost management. Traditional mail and retail operations continue to face structural declines, softer retail footfall, and “That said, the recent export surge may partly reflect low-base effects, with growth likely to moderate in the second half of 2026 as last year’s higher base kicks in. “Furthermore, global trade conditions remain fluid, with tariff developments, geopolitical tensions and a firmer ringgit posing uncer tainties to the outlook,” it said. Therefore, Apex Securities main tained its 2026 export growth

The group will maintain its focus on executing its transformation initiatives, strengthening service quality, maintaining cost discipline and engaging constructively with policymakers to address longstanding structural issues in the postal and parcel ecosystem. Apex Securities remains cautiously optimistic on Malaysia’s trade outlook

down in capital goods imports (+2.3% y-o-y; Dec: +27.1%) as a temporary breather, with infrastructure rollout and data centre expansion keeping investment momentum firm in 2026. “We forecast steady investment GDP growth of 9.3% y-o-y in 2026.” Meanwhile, Apex Securities expects intermittent volatility after US President Donald Trump im-posed a 15% global tariff for 150 days, as trade terms are renegotiated and alternative