AGN Evening Wrap-Up | 27 March 2025
Market Recap & Corporate Highlights:
- Cuckoo’s RM470 million IPO is expected to close on April 10, drawing investor interest as Malaysia’s most significant listing of the year so far.
- Petronas’ bond issuance, estimated at US$3 billion, is reportedly scheduled to price this Thursday, with investor roadshows in full swing.
- Malaysia Airports Holdings Bhd continues its infrastructure shift, emphasizing operational upgrades over new terminal builds at KLIA and Subang.
- Gamuda’s performance continues to reflect positive momentum, bolstered by upcoming project wins and high-margin overseas jobs.
Regional & Global Politics:
- In Thailand, Prime Minister Paetongtarn Shinawatra has survived a no-confidence vote, reinforcing her hold on power despite political challenges centered around her father, former PM Thaksin Shinawatra.
- Former US President Donald Trump’s renewed statements about minimal exceptions to his tariff policy continue to spook international markets.
- The US Federal Reserve’s latest data shows the top 0.1% of American households now hold nearly 14% of national wealth — highlighting growing inequality.
Asian Corporate Focus:
- Chinese EV giant BYD is ramping up global distribution and expects to ship 800,000 units overseas in 2025, solidifying its position as a global player while avoiding high-risk Western markets.
