19/06/2026

BIZ & FINANCE FRIDAY | JUNE 19, 2026

/thesuntelegram FOLLOW / Malaysian Paper

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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

TA Associates invests in Airs Medical for global expansion KUALA LUMPUR: TA Associates, a leading global private equity firm, has made a strategic growth investment in AIRS Medical, a global leader in artificial intelligence (AI)-powered medical imaging solutions. In a statement, TA said the investment is aimed at accelerating AIRS Medical’s international expansion, advancing its radiology technology platform and supporting ongoing product innovation. TA Asia Pacific managing director and head Edward Sippel said AIRS Medical has built a differentiated AI platform that addresses critical capacity and workflow challenges facing radiology providers globally. He highlighted the company’s growing presence across more than 40 countries and its position to benefit from increasing demand for imaging efficiency and diagnostic consistency. Meanwhile, AIRS Medical co-founder and chairman Dr Hyeseong Lee said the partnership would help the company advance its mission of improving access to advanced diagnostics while delivering greater value to healthcare providers and patients worldwide. The investment comes as healthcare providers face mounting pressure to address rising imaging demand while maximising the utilisation of existing magnetic resonance imaging (MRI) infrastructure. With demand for faster and more accurate diagnoses continuing to grow, healthcare systems are increasingly seeking technologies that can improve productivity without requiring significant additional capital investment. – Bernama

THE ringgit closed lower against the US dollar yesterday as expectations of a possible US Federal Reserve (Fed) interest rate hike later this year boosted demand for the greenback. At 6pm, the local note fell to 4.1145/1195 against the greenback from 4.0665/0700 at Tuesday’s close. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said expectations of a 25-basis-point interest rate hike by the Fed this year continued to support the US dollar. “This is despite the Fed’s forecast for lower federal fund rates of 3.6% in 2027 and 3.4% in 2028, compared with 3.8% in 2026. “Hence, we believe there appears to be a knee-jerk reaction among traders as the Fed is also abandoning forward guidance in its accompanying statement,” he told Bernama. At the close, the ringgit was mostly lower against a basket of major currencies. It depreciated against the Japanese yen to 2.5588/5620 from 2.5360/5384 at Tuesday’s close and slipped versus the euro to 4.7222/7280 from 4.7175/7216. However, it strengthened against the British pound to 5.4476/4542 from 5.4552/4599 previously. Against regional currencies, the local note was lower. It weakened against the Thai baht to 12.5611/5809 from 12.5027/5192 at Tuesday’s close, depreciated versus the Indonesian rupiah to 231.2/231.5 from 229.3/229.7 previously, eased against the Philippine peso to 6.79/6.80 from 6.74/6.75 and declined against the Singapore dollar to 3.1898/1939 from 3.1722/1752. Ringgit weakens against dollar on Fed rate hike expectations

Exchange Rates

FOREIGN CURRENCY

SELLING TT/OD

BUYING TT

BUYING OD

1 US Dollar

4.1570 2.9290 3.2210 2.9400 4.7790 2.4040 3.2210 5.5240 5.2230 3.4540 61.7600 65.5300 53.4800 4.4800 0.0245 2.6040 44.2900 1.5500 6.9600 114.9800 111.6900 26.2700 1.3100 45.0000 13.2400 114.2000 N/A

4.0110 2.8110 3.1210 2.8570 4.6230 2.3160 3.1210 5.3490 5.0000 3.2040 59.1500 60.2900 50.8000 4.1600 0.0216 2.4830 40.7300 1.3900 6.5600 109.1500 106.0300 23.7300 1.1400 40.9800 11.7500 108.2700 N/A

4.0010 2.7950 3.1130 2.8450 4.6030 2.3000 3.1130 5.3290 4.9850

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

108.0700

3.0040

N/A

60.0900 50.6000 3.9600 0.0166 2.4730 40.5300 1.1900 6.3600 108.9500 105.8300 23.5300 0.9400 40.7800 11.3500 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

Farm Price Holdings Bhd Outperform. Target price: RM0.37

LAC Med Bhd Buy. Target price: RM1.16

Malaysian Resources Corp Bhd Buy. Target price: RM0.51

June 18, 2026: RM0.33

June 18, 2026: RM0.33

June 18, 2026: RM0.75

Source: PublicInvest Research

FOLLOWING our meeting with Farm Price’s management, we continue to view the Senai Centralised Distribution Centre (CDC) expansion as the group’s key medium-term growth catalyst. After missing its initial Q1’26 commencement target, we understand that construction has been completed, pending fire safety inspections, Certificate of Completion and Compliance (CCC) approval, and minor renovation works. Operations are now projected to commence by Q4’26. Upon commencement, Senai CDC’s total built-up area increases to 150k sq ft (from 79k sq ft), while annual pallet capacity rises to 55,000 pallets (from 29,669 pallets). The upgraded facility can accommodate up to 90 containers, reducing reliance on third-party cold storage providers and enhancing supply continuity. While capacity increases materially, we expect utilisation to ramp up gradually over the next 1–2 years. Management indicates that Food Life (acquired in Oct 2025) has completed its restructuring and consolidation process. Recall that higher administrative costs from the acquisition have weighed on Farm Price’s margins over recent quarters, resulting in an estimated RM400k loss in Q1’26. Nevertheless, we gather that Food Life is on track to breakeven, given Farm Price’s continuous efforts in improving profitability, which includes manpower rationalisation and discontinuing loss-making customer accounts. Sarawak has been identified as the group’s next expansion destination, adding to its existing network of nine distribution centres nationwide. Farm Price continues to focus on underserved areas, where competition is lower and margins are more attractive. For its Sabah operation (commenced Feb 2025), management is targeting monthly revenue of RM1.5 million, versus the current RM600k–700k. OUTPERFORM with RM0.37 TP. – PublicInvest Research, June 18

Source: Bloomberg

Source: Bloomberg

LAC Med has secured a RM78.9 million contract for the supply of reagents and related consumables to 10 Ministry of Health’s (KKM) public hospitals in Kedah, commencing June 15 June with a tenure of four years. Revenue recognition will be based on actual hospital usage requirements. The contract relates to Abbott-branded laboratory consumables, which typically carry lower, single-digit margins. Nevertheless, we view Abbott-related contract wins primarily as earnings-accretive recurring business that enhances earnings visibility. We estimate the contract could contribute RM5-7 million in gross profit over its duration, assuming gross margins of 7-9%. Following this award, LAC Med’s outstanding orderbook increases to RM277.9 million. YTD contract wins now total RM105.7 million – all of which were secured through Abbott. Such consumable-based contracts mitigate some of the cyclicality inherent in LAC Med’s capital equipment distribution business. That said, we continue to expect multiple smaller equipment-related tenders to be awarded over the coming quarters, which should help cushion margin pressure and support earnings momentum heading into Q4’26 (typically contributes 50% of full-year earnings). We continue to view the group as a key beneficiary of Malaysia’s expanding healthcare sector. Separately, there remains potential for LAC Med to secure additional principal brands that complement its existing product portfolio. That said, we advocate investors to accumulate on weakness, with the counter currently trading at an attractive 9.1x FY27F P/E. BUY with RM1.16 TP.– RHB Research, June 18

MALAYSIAN Resources Corp via its subsidiary Bukit Jalil Sentral Property (BJSP) has signed a collaboration agreement with Perintis Akal (PASB), a subsidiary of Pemandu Partners International, to develop a state-of-the-art, artificial intelligence (AI)-ready data centre (DC) in Bukit Jalil. The proposed AI DC in Bukit Jalil will have a 65MW IT load capacity and built-up area of 500k sq ft, with an estimated gross development cost of RM2.1 billion. BJSP, which owns the 37,320 sqm leasehold project land in Bukit Jalil (also known as Lot 104027), will serve as an asset owner and master developer of the proposed AI DC. Meanwhile, PASB will be the long-term tenant and operator of the said AI DC under a 10-year lease agreement. PASB is partnering with Inspur Communication Malaysia on the construction, commissioning, maintenance and operation of the AI DC. Inspur Communication Malaysia is a part of the Inspur Group, a leading Chinese cloud computing and big-data services provider. BJSP and PASB expect to finalise and execute definitive agreements by Q3’26, with the entire facility targeted for completion by Q4’27. Based on our preliminary estimates, lease revenue (assuming a triple net lease model) attributable to MRC in FY28 (the first year of expected operations) is forecasted to be ~RM195 million (or a net income of RM49 million with an assumed 25% net margin) by pencilling an assumption of: i) 50% occupancy rate (ramped up to 75% and 100% in FY29 and FY30), and ii) a monthly lease rate of RM500 per kW. BUY with RM0.51 TP. – RHB Research, June 18