14/07/2026

BIZ & FINANCE TUESDAY | JULY 14, 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

RHB strengthens ties with vendors, tech collaborators KUALA LUMPUR: RHB Banking Group hosted over 300 leading vendors and technology collaborators to strengthen relationships and spur innovation powered by AI. This year, RHB expanded its programme from procurement excellence to include how AI, new digital technologies, and strategic partnerships can fuel innovation, boost efficiency, and support ongoing growth. Participants discussed the evolving role of procurement in driving business transformation and creating meaningful value throughout the organisation. Group managing director/ Group CEO, Datuk Mohd Rashid Mohamad said: “Banking’s future will be shaped through strong alliances, shared innovation, and adaptability. At RHB, we see our vendors as valuable partners who bring fresh ideas, skills, and creativity – not just providers of services. “Together, we can build a resilient, future-ready organisation that delivers long-term benefits to customers and stakeholders.” During the event, vendors gained first- hand insights into RHB’s strategic priorities and upcoming transformation plans through dialogues with senior leaders. Microsoft and Google shared global insights on responsible AI, cloud advancements, and emerging digital tools, offering guidance on secure, scalable adoption of these innovations in financial services. The initiative not only advances RHB’s own transformation but also supports Malaysia’s broader digital ambitions by promoting innovation, building local expertise, and encouraging greater collaboration across the financial services industry.

THE ringgit ended higher against major and regional currencies, including the US dollar, yesterday amid continued geopolitical uncertainties in West Asia. At 6pm, the local currency edged up to 4.0680/0730 versus the greenback from 4.0695/0745 at last Friday’s close. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors continued to assess uncertainties surrounding the United States-Iran ceasefire and the free flow of vessels through the Strait of Hormuz. He said crude oil prices remained elevated, with West Texas Intermediate and Brent crude trading at US$73.02 and US$77.80 per barrel, respectively. “Meanwhile, US interest-rate futures indicated a 55.7 per cent probability of a quarter-point increase in the federal funds rate in September. As such, this is expected to continue providing support for the US dollar in the near term,” he told Bernama. At the close, the ringgit traded higher against a basket of major currencies. It appreciated versus the Japanese yen to 2.5110/5142 from 2.5148/5181 at last Friday’s close, strengthened against the British pound to 5.4475/4542 from 5.4572/4639 at the end of last week, and inched up vis-a-vis the euro to 4.6501/6558 from 4.6502/6559 previously. The ringgit rose versus the Singapore dollar to 3.1489/1530 from 3.1520/1561 at the previous close and strengthened against the Indonesian rupiah to 224.6/225.0 from 225.2/225.6. The local currency was also firmer against the Thai baht to 12.1953/2151 from 12.2101/2302 previously and gained vis-a-vis the Philippine peso to 6.60/6.62 from 6.61/6.62. Ringgit closes higher against major and regional currencies

Exchange Rates

FOREIGN CURRENCY

SELLING TT/OD

BUYING TT

BUYING OD

1 US Dollar

4.1500 2.8880 3.2030 2.9210 4.7240 2.3900 3.2030 5.5460 5.1470 3.4320 61.4900 64.7900 53.3600 4.4400 0.0240 2.5770 43.4100 1.5500 6.8300 114.7500 111.4000 26.2000 1.3000 44.0500 12.9500 114.0100 N/A

4.0000 2.7680 3.0990 2.8360 4.5660 2.2990 3.0990 5.3630 4.9220 3.1820 58.8200 59.5500 50.6400 4.1200 0.0212 2.4560 39.8900 1.3800 6.4200 108.9300 105.7500 23.6500 1.1300 40.0800 11.4700 107.9900 N/A

3.9900 2.7520 3.0910 2.8240 4.5460 2.2830 3.0910 5.3430 4.9070

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

107.7900 2.9820 59.3500 50.4400 3.9200 0.0162 2.4460 39.6900 1.1800 6.2200 108.7300 105.5500 23.4500 0.9300 39.8800 11.0700 N/A 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

AEON Credit Service Bhd Buy. Target price: RM6.60

KJTS Group Bhd Buy. Target price: RM0.87

Plantation Sector Overweight

July 13, 2026: RM0.72

July 13, 2026: RM5.74

Source: Bloomberg, RHB Research

Source: Malacca Securities

KJTS announced that its 70.67%-owned subsidiary, iHandal Green Assets Holdings, has secured a new savings sharing agreement (SSA) with Flexitech, a wholly-owned subsidiary of Top Glove, for the deployment of its Heatfuse Heat Recovery Solutions at Flexitech’s Banting plant. The 10-year contract carries guaranteed savings of RM5.47m p.a. and a 50% sharing ratio to iHandal, implying a gross recurring share of RM2.73m p.a. before costs. This marks iHandal’s third similar SSA secured within the Top Glove group over the past 12 months, following earlier agreements with TG Medical and GMP Medicare. Collectively, the three contracts imply a combined gross savings share of RM4.05m p.a. before costs. We view the latest SSA positively, as it reinforces the strategic rationale behind KJTS’s acquisition of iHandal in 1QCY26 to expand its capabilities into energy efficiency and heat recovery solutions. The repeat contract from another Top Glove subsidiary also indicates growing commercial acceptance of iHandal’s Heatfuse solution and strengthens confidence in its ability to replicate the savings- sharing model. More importantly, the SSA adds to KJTS’s long-tenure income stream through a savings-sharing structure rather than a one-off project model. We believe the growing portfolio of 10-year SSAs should improve medium-term income visibility and complement KJTS’s existing recurring cooling energy management business. That said, we expect only a modest earnings uptick from the latest SSA, given the upfront project, installation, maintenance and funding costs borne by KJTS. Maintain BUY and RM0.87 TP. – Malacca Securities, July 13

AT AEON Credit Service’s 1QFY27 results briefing, management reaffirmed its full-year guidance, projecting steady financing growth of 8% YoY alongside credit costs of 4% by FY27. While these suggest ACSM will post stronger earnings ahead, we trim our FY27-29F PATMI by 3-8% following higher-than-expected credit costs and associate losses in 1QFY27. Credit costs expected to normalise. ACSM saw collection challenges in May, which management attributed to temporary collection disruptions - resulting from, among others, school and public holidays - which led to higher write-offs in the personal financing and used car segments. Management noted the possibility of 2Q continuing to see collection challenges due to inflation and unemployment pressures, but was hopeful of mitigating these risks by enhancing collection efforts. Among its initiative is the use of its AI-powered VoiceBot, which ACSM estimates to be 20% more productive. Overall, management thinks it can lower the quarterly write-off rate back to its 1.3% historical average (1QFY27: 1.4%) and kept its full-year credit cost guidance of 4%. AEON Bank remains broadly on track with its original business plan, targeting breakeven by FY29. For FY27, ACSM guided its share of losses to be RM75m, due to continued investments in technology infrastructure and customer acquisition. Near-term operational momentum looks encouraging - the digital bank has onboarded 1,000 merchants under its business banking wing, while loan disbursements continue to gain traction. Notably, personal financing disbursements are expected to scale up to RM20m this year, which would help provide a slight lift to yields and NIM by the year end. Stay BUY, new RM6.60 TP. – RHB Research, July 6

Source: MPOB, RHB Research

THE latest US National Oceanic Atmospheric Association forecast on 9 July stated that El Niño has strengthened over the past month, and is expected to intensify through 2026. Alongside model forecasts, a strong coupling of the atmospheric and oceanic circulation across the Pacific Ocean contributes to high confidence that El Niño will continue through early 2027, with a 97% chance of a strong/very strong El Niño during October-December. If this comes through, it would rank among the largest El Niño events in the historical records going back to 1950. While the Australian Bureau of Meteorology concurs that forecasts are pointing towards a strong-to-very strong El Niño event, based on the extent of warming in the central tropical Pacific, it believes only around half of the models indicate this event could peak at among the highest observed levels since 1950. In addition, the Indian Ocean Dipole is still at neutral territory and needs to be in positive territory before a strong El Niño is confirmed. We continue to wait for confirmation of the El Niño strength before making any substantive changes to our CPO price assumptions. Malaysia’s June CPO output rose 8.1% MoM (-3.2% YoY), bringing YTD-June growth to +0.6% YoY. Indonesia, by contrast, posted a robust +13.3% YoY as at YTD-April. Exports improved 6.2% MoM (-4.5% YoY), despite PO’s discount narrowing against soybean oil (SBO) (June: US$419/tonne vs May: US$509/tonne), while the sunflower oil (SFO) discount widened (June: US$278/tonne vs May: US$249/tonne). Maintain OVERWEIGHT on sector. – RHB Research, July 13