CIMB, AMMB shares fall following rating downgrades
JP Morgan warned that rising long-dated bond yields would weaken banks’ trading gains and capital positions, with possible implications for dividends.
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JP Morgan warned that rising long-dated bond yields would weaken banks’ trading gains and capital positions, with possible implications for dividends.
Quarterly net profit rose to RM157.6 million, while analysts cited excess glove supply and potential cost increases as risks to the recovery.
Gainers still led decliners 221 to 180, while trading turnover reached RM150.56 million.
The local currency also weakened against the pound and euro, but gained against the yen.
The company said the proposed transaction includes debt settlement and cash extraction arrangements that were absent from an earlier aborted deal.
The two-year agreement runs from Oct 16, 2026, to Oct 15, 2028, with no provision for automatic renewal.
The Miri project covers construction and a 60-month operation and maintenance period, with capacity planned at seven million litres per day.
The company confirmed its suspension as a JPJ collection agent and warned of lost revenue and profit contributions from affected services in 4QFY2026.
The board changes follow Hii Capital Holdings Sdn Bhd securing a 53.08% stake when a mandatory offer closed.
The contracts cover construction work and solar component supplies for a 99.99MW plant, with commencement subject to a notice to proceed.