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bought a few CSCSTEL at 1.24 (morning open price, 17 nov 2025). no debt and lot of cash company. good privatization target at above rm1.7 offer price. CSCSTEL now made up about 2% of my total portfolio / investment capital.
If MYR strengthens from 4.20 → 4.00:
• Gross Margin improves ~1.8%
• Net Margin improves ~1.4%
• Significant benefit because CSC is import-dependent
• Cash flow improves due to lower working capital requirement
If MYR stays stable or strengthens → bullish for CSC
Ringgit strengthening cycles typically occur when:
• Fed cuts interest
• Commodity prices soften
• USD index weakens
• Malaysia trade surplus grows
Which is currently happening.
Final FYE 2026 Projected Results (USD/MYR 4.00)
Metric Result
Revenue RM 1.45b
Gross Profit RM 174–181 million
Operating Expenses RM 65.3 million
EBITDA RM 108–116 million
EBIT RM 81.7–89 million
Net Profit (FX adjusted) RM 92.8 million
Summary
• Strong MYR (4.00) boosts margins significantly.
• GPM rises to 12%–12.5%.
• Net profit lifts to RM93m, compared to ~RM80m at FX 4.20.
• Working capital & inventory costs also benefit, supporting the higher NPM.
