For Suria Capital Holdings Berhad, the uptrend is not purely timing-based—it depends on catalysts. Based on latest 2025–2026 data, the stock is fundamentally improving, but price breakout usually comes when a few key triggers align.
📊 Current Situation (2026)
Earnings turned around strongly in FY2025 (profit +37%) �
The Edge Malaysia
Revenue supported by:
Port operations (stable core)
Property (Jesselton Docklands, Quay, waterfront projects) �

Key Catalysts for Uptrend (VERY IMPORTANT)
1. DP World impact (2026–2027)
Sepanggar port now operated with DP World JV
Efficiency improved (ship turnaround <48 hours) �
lpps.sabah.gov.my
If container volume ramps toward 1M+ TEU ➡️ This is the strongest re-rating trigger
📌 Timing: gradual impact → market may price in 2H 2026 onward

2. Tariff increases (profit booster)
Port tariffs rising in phases:
+15% (2026)
+10% (2027)
+5% (2028) �
i3investor
➡️ Margin expansion will show in earnings
📌 Timing: clearer in 2026–2027 quarterly results

3. Property monetisation (Jesselton projects)
Revenue recognition already started (JDA1) �
The Edge Malaysia
Future launches / sales:
Jesselton Docklands
Waterfront City
➡️ This creates lumpy profit spikes (good for share price breakout)
📌 Timing: when sales + earnings surprise

4. Concession extension (VERY BIG catalyst)
Ongoing negotiation for 30-year port concession extension �
suriagroup.com.my
➡️ If confirmed:
Removes long-term risk
Can trigger major rerating
📌 Timing: any announcement = immediate price jump

So When Will Uptrend Start?
Base case (most realistic):
Accumulation phase: Now – mid 2026
Uptrend starts:
👉 2H 2026 (Q3–Q4) when:
Earnings improve
DP World contribution becomes visible

Strong breakout scenario:
👉 Could happen earlier if any of these occur:
Concession extension announced
Strong quarterly earnings beat
High dividend surprise

Project: Kimanis 100 MW Gas Peaking Plant
Developer: Suria Capital Holdings (via SCES subsidiary)
Partner: Innoprise (Yayasan Sabah)
Location: Kimanis, Sabah
👉 In July 2025, Suria received an Initial Letter of Notification (ILoN) from Sabah Energy Commission (ECOS)

This is where price will move—not waiting until 2029:
🔥 Phase 1 (2026)
Final approval (LoN)
Gas supply agreement
👉 First breakout trigger
🔥 Phase 2 (2026–2027)
EPCC contract award
Construction start
👉 Strong uptrend phase
🔥 Phase 3 (2028–2029)
Plant completion
Earnings contribution
👉 Fundamental support phase

Too many developments in Suria for next 10 to 15 years. Just Jesselton Dockland and quay projects will have revenue of at least Rm900 millions plus or average of 60+ millions a year with 33% profit will contribute Rm20 millions a year in the future.