Intelligence Node · AI-09
Weekly AI Briefing
Strong gold-price tailwind is lifting topline, but unhedged bullion inventory is the silent number to watch.
EBITDA margin expanded 140 bps q/q on stronger jewellery mix and tighter outlet wastage. We carry RM 312M of bullion and work-in-progress inventory; only 35% is hedged on Bursa-listed gold futures, leaving meaningful exposure if spot gold corrects.
AI macro overlay puts a 55% probability on a gold pullback toward USD 2,520/oz over the next quarter. Lifting hedge ratio to 60% costs ~RM 380k in carry and caps a potential RM 9–11M inventory revaluation hit.
Sources · Internal ERP + Bloomberg + AI scrape