07/04/2026

BIZ & FINANCE TUESDAY | APR 7, 2026

20

MARKETS/FROM THE BROKERS

SUNBIZ presents extracts of a selection of commentaries and research reports received from stockbrokers on counters that could be of interest to investors.

DISCLAIMER: The information is extracted from stockbrokers’ commentaries and research reports and do not represent the views or opinions of Sun Media Corporation Sdn Bhd. It is not a solicitation, recommendation or an offer to buy or sell the equities featured. Sun Media Corporation shall not be liable or responsible for any consequences resulting from usage of the information.

[ Compiled by SunBiz Team

Samenta calls for deeper reforms to empower MSMEs KUALA LUMPUR: The 100-day milestone of Entrepreneur and Cooperative Development Minister Steven Sim Chee Keong under the Hebatkan Perniagaan Malaysia initiative has been welcomed as a positive step forward. However, industry leaders are urging the government to prioritise structural reforms to better support micro, small and medium enterprises. President of the Malaysian Small and Medium Enterprises Association (Samenta), William Ng, said the government must move beyond financial assistance and address long-standing structural challenges facing MSMEs. Key areas requiring urgent attention include ensuring fair competition with government-linked companies (GLCs), implementing comprehensive workforce solutions, undertaking meaningful bureaucratic reforms, and advancing a shift from “Made in Malaysia” to “Made by Malaysia”. “It is time for GLCs to scale back their presence in retail and non-strategic service sectors to allow local MSMEs the space to grow without competing with state-owned entities,” he said in a statement yesterday. Ng said many MSMEs remain dependent on foreign labour, calling for a simplified hiring process, the introduction of a tiered levy system, and the elimination of intermediaries to improve labour efficiency. He also highlighted bureaucratic hurdles at the local authority level, particularly in licensing processes, as a hidden burden that continues to weigh on businesses, stressing that accelerating reform is critical to ensure business continuity, especially amid global geopolitical uncertainties.– Bernama YTL Power International Bhd Buy. Target price: RM4.21

THE ringgit closed marginally higher against the US dollar yesterday as optimism over a potential West Asia ceasefire improved risk appetite. At 6pm, the local note strengthened to 4.0245/0320 against the greenback from 4.0295/0350 at Friday’s close. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said it was reported that the United States, Iran, and mediators are hatching plans for a 45-day ceasefire that would allow the reopening of the Strait of Hormuz. “The details remain sketchy, but it seems that the news has boosted some form of optimism in the financial markets,” he told Bernama. Mohd Afzanizam said last Friday’s US non-farm payrolls (NFP) for March came in stronger than expected at 178,000, but the data remained volatile as February’s contraction widened from 92,000 to 133,000. “Meanwhile, the US labour force participation rate (LFPR) declined for a fourth consecutive month to 61.9 per cent, suggesting fewer Americans are participating in the labour market, signalling a possible weakening trend that could support the case for the Federal Reserve to ease monetary policy later this year.” At the close, the ringgit appreciated against the Japanese yen at 2.5241/5290 from last Friday’s close of 2.5247/5285, improved vis-a-vis the euro to 4.6483/6570 from 4.6513/6576, and elevated against the British pound to 5.3305/3404 from 5.3326/3399. It was marginally lower versus the Singapore dollar at 3.1346/1407 from 3.1341/1389 at the close last Friday, edged down against the Philippine peso to 6.70/6.72 from 6.68/6.71, and slipped against the Thai baht to 12.3831/4138 from 12.3585/3841 previously. Ringgit higher against US dollar on West Asia ceasefire hopes

Exchange Rates

FOREIGN CURRENCY

SELLING TT/OD

BUYING TT

BUYING OD

1 US Dollar

4.1090 2.8410 3.1860 2.9390 4.7250 2.3410 3.1860 5.4150 5.1520

3.9580 2.7220 3.0820 2.8530 4.5670 2.2530 3.0820 5.2340 4.9270

3.9480 2.7060 3.0740 2.8410 4.5470 2.2370 3.0740 5.2140 4.9120

1 Australian Dollar 1 Brunei Dollar 1 Canadian Dollar 1 New Zealand Dollar 1 Singapore Dollar 1 Sterling Pound 1 Swiss Franc 100 UAE Dirham 100 Bangladesh Taka 100 Chinese Renminbi 100 Danish Krone 100 Hongkong Dollar 100 Indian Rupee 100 Indonesian Rupiah 100 Japanese Yen 100 New Taiwan Dollar 100 Norwegian Krone 100 Pakistan Rupee 100 Philippine Peso 1 Euro

112.8700

106.8400

106.6400 2.9620 59.3700 49.9400 3.9900 0.0173 2.4550 39.3100 1.1600 6.2900 107.5600 104.4700 22.3800 0.9900 40.3600 11.2000 N/A N/A

3.4140

3.1620

N/A

N/A

64.8300 52.8400 4.5200 0.0252 2.5870 43.0200 1.5300 6.9100 113.5200 110.2600 25.0200 1.3700 44.6000 13.1000 N/A

59.5700 50.1400 4.1900 0.0223 2.4650 39.5100 1.3600 6.4900 107.7600 104.6700 22.5800 1.1900 40.5600 11.6000 N/A

100 Qatar Riyal 100 Saudi Riyal

100 South Africa Rand 100 Sri Lanka Rupee 100 Swedish Krona

100 Thai Baht

Source: Malayan Banking Bhd/Bernama

Sunview Group Bhd Hold. Target price: RM0.395

Kerjaya Prospek Group Bhd Buy. Target price: RM3.47

April 6, 2026: RM3.57

April 6, 2026: RM0.36

April 6, 2026: RM2.14

Source: Bloomberg, TA Research

Source: Bloomberg, TA Research

SUNVIEW announced that a consortium comprising its wholly owned subsidiary, Fabulous Sunview Sdn Bhd and Cypark Renewable Energy Sdn Bhd was awarded an EPCC contract for the construction of a 595MWac floating solar PV plant with battery energy storage system at Kenyir Lake, Terengganu. Fabulous Sunview Sdn Bhd will own a 40% stake in the JV consortium while Cypark Renewable Energy Sdn Bhd will own the majority 60%. The contract was awarded by TNB Power Generation Sdn Bhd, carrying a value of RM1.96bn. Works is expected to commence on June 2 with a target completion date on Sept 29, 2028. This is a huge win for SUNVIEW and marks the group’s breakthrough into the EPCC of floating solar PV plants. That said, we await further details on the required capital injection into the JV, which could reflect SUNVIEW’s share of the working capital (WC) required to execute this massive project. In this regard, we reckon SUNVIEW would have to stretch its balance sheet further to accommodate the project’s capital requirement, while at the same time, undertaking the two solar asset acquisitions it announced earlier which could come up to an aggregate sum of RM175mn-245mn, inclusive of additional funding required to complete one of the solar assets that it is acquiring. As at end-1QFY26, SUNVIEW’s net debt stood at RM138mn, translating into a net gearing position of 137%. In a latest announcement, the group has completed the first tranche of its private placement following the issuance of 20.7mn placement shares. At an average issue price of 31.75sen/share, the exercise would have raised RM6.6mn, which would reduce the group’s net gearing to 123%. We raise SUNVIEW to Hold with RM0.395 TP. – TA Research, April 6

Source: Bloomberg, TA Research

AT its recent briefing, YTL Power International (YTLPOWR) updated that it had secured land lease extension for Power Seraya (Seraya) until 2055, underpinning the group’s continued exposure to the Singapore electricity market. More importantly, we believe Seraya is well positioned to benefit from the rise in Singapore’s spot and retail electricity prices. March 2026 average spot rate has risen +24% since January 2026, while retail contract rates have reportedly risen by up to +11%. Given that the bulk of Seraya’s prior gas hedges expired in December 2025, we reckon it would have rolled over to new gas contracts in a big way towards end-CY25 or early-CY26, prior to the Iran war. Coupled with the higher electricity prices now, we see potential margin uplift for Seraya. Around 10% of Seraya’s volumes is exposed to the spot market while retail contracts account for an estimated 70%-75% of volumes. At its briefing, YTLPOWR updated that the group’s tenanted data centre (DC) capacity has reached 300MW, which will contribute annual EBITDA of RM1.4bn (20% of group FY27F EBITDA). Going forward, the group expects annual capacity growth to re-accelerate to 200MW per annum to hit a new target of 1.3GW capacity, estimated by 2030-31. This marks a more than doubling compared to the original 500MW DC capacity target for its Kulai YTL Green Data Centre Park, driven by rising interest from US hyperscalers. To finance this more aggressive growth, we reckon a listing of YTLPOWR’s DC unit could materialise sooner rather than later - we estimate YTLPOWR’s latest DC expansion plan could require capex of up to RM30bn for the additional 1GW DC capacity within the next 5 years. At its briefing, YTLPOWR indicated of a potential IPO either in Singapore, Malaysia or the US in the “near-term”. Re-affirm Buy with RM4.21 TP. – TA Research, April 6

LAST Friday, Kerjaya Prospek Sdn Bhd, a wholly-owned subsidiary of KERJAYA, secured a RM98.8mn contract from Sena Letrik (M) Sdn Bhd for the construction of a private hospital at Bandar Seremban Utama, Seremban 2. The scope covers the main building works, M&E and external works for an 8-storey hospital block with one basement level. The project carries a construction period of 18 months, with works commencing immediately upon award. This represents KERJAYA’s third job win in FY26, lifting its total unbilled construction order book to RM4.3bn (approximately 2.4x its FY24 construction segment revenue), supporting its near-term earnings visibility. Including this latest win, KERJAYA’s FY26 YTD total new order book replenishment stood at RM802.3mn, which met 40% of our FY26 full-year new job win assumption of RM2.0bn. Assuming a 6% net margin, this contract is estimated to contribute RM5.9mn of net earnings to KERJAYA over the construction timeframe. A positive read-through of this contract win is that it marks KERJAYA’s first foray into hospital construction space beyond its traditional high-rise construction. We view this job win positively as it provides an opportunity for the group to build technical capabilities and track record in hospital construction, which could enhance its competitiveness in bidding for hospital projects going forward. Besides, this job win also reflects KERJAYA’s ongoing efforts to diversify its revenue base away from predominantly related-party projects (E&O and Kerjaya Prospek Property). We reiterate our Buy call with an unchanged TP of RM3.47. – TA Research, April 6