RM100,000 aid for Society's building fund
Published on: Tuesday, May 20, 2025
Published on: Tue, May 20, 2025 Text Size: Liew (centre), flanked by Wong (on her left) and the Society's Deputy President Datuk Frankie Liew, at the anniversary cake-cutting ceremony. Kota Kinabalu: State Tourism, Culture and Environment Minister Datuk Seri Christina Liew announced a contribution of RM100,000 in aid of the Penampang Che Hor Khor Moral Uplifting Society's Lodge cum Moral Cultural Centre Building Fund. She made the announcement when officiating at the threefold celebration to mark the Sacred Birthday of the Principal Deity Lord Li Daoming, the 23rd Anniversary of the Society's Founding, and the 21st Anniversary of the establishment of its Free Medical and Medicine Unit on Sunday night.
Advertisement Calling for efforts to expedite the construction of the lodge and cultural centre on a 6.6-acre site at Bukit Padang here, Liew said when completed, the architectural structure would not only serve as the Society's official premises but would also become a tourist attraction. 'This positive development will not only further the Society's spiritual and charitable mission but will also become a new place of interest in Sabah, bringing benefits to both the organisation and the State's tourism industry. 'I urge leaders and members to unite in spirit and action to complete this noble task. May the new lodge be built successfully and at the earliest,' she said. The estimated cost of building the lodge cum moral cultural centre is in the region of RM52 million. An artist's impression of the complex shows a pagoda-like structure that portrays the De Jiao design, reflecting Chinese moral values.
Advertisement According to the President of the Che Hor Khor Moral Uplifting Society in Penampang, Wong Sound Sing, the development plan and building plan were in the process of being approved by the relevant authorities. 'We have started the earthworks now and will complete this project within three years, hopefully by the end of 2027,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
an hour ago
- Borneo Post
Sharp land tax increase puts financial pressure on Miri cooperative
Chong (third left) presides over the cooperative's AGM. MIRI (June 9): Koperasi Petani-Petani Miri Berhad has voiced serious concern over a sharp spike in its annual land tax, which has surged by 325 per cent – from RM440 to RM4,249 – posing a significant challenge to its 2025 financial planning. During its annual general meeting yesterday, secretary Oscar Chai revealed that the 2024 budget had only allocated RM1,000 for land tax, leaving a shortfall of RM3,249 due to the unexpected increase. 'The 2024 budget had only allocated RM1,000 for land tax. This unexpected increase left us a shortfall of RM3,429. 'In addition, Telekom Malaysia's rate hike in communication charges resulted in costs exceeding the initial budget by RM3602.10,' said Chai. The cumulative impact of these increases has led to a deficit of RM802.10, he highlighted. To address the situation, members of the cooperative unanimously agreed to adjust and subsidise the budget shortfalls for land tax and communication expenses. Meanwhile, board chairman Chong Vui Kuok proposed an 8.5 per cent dividend pay-out for the 2025 financial year – the highest in recent years – as a gesture of appreciation for members' continued support and contributions. 'In 2024, the cooperative recorded a total income of RM229, 722.00 and a net profit of RM67,433.00. 'This would not have been possible without the tireless support and trust of our members,' said Chong, adding that the board is committed to giving back to members through meaningful dividends. He further explained that the cooperative's income streams are primarily derived from dividends on investments in Bank Rakyat, agricultural land management fees, and rental income from shop lots and fixed deposits. In 2024 alone, it received RM91,439.15 in dividends from its RM554,207.00 investment in Bank Rakyat, he added. The proposed dividend distribution will be finalised upon member agreement and internal approval. Currently, the cooperative has 300 registered members managing over 300 acres of agricultural land. Beyond financial matters, the cooperative also reported efforts to upgrade and maintain critical agricultural infrastructure – including drainage systems, weed control, and road access. It also announced that new land lease agreements are being finalised to ensure fairness and improved returns for members managing larger land plots. These initiatives underscore the cooperative's strategic commitment to sustainable growth, financial prudence, and long-term member benefits. Koperasi Petani-Petani Miri Berhad land tax lead Oscar Chai
New Straits Times
2 hours ago
- New Straits Times
Majuperak plots growth in renewable energy, housing and tourism after strategic reset
KUALA LUMPUR: Majuperak Holdings Bhd is charting its next phase of growth on the back of a three-year transformation plan, said group chief executive officer Muhammad Yazurin Sallij. After a year of restructuring, the Perak state-linked company returned to the black in the first quarter of 2025 (Q1) with a net profit of RM1.45 million, buoyed largely on one-off land sales and dividend gains. Muhammad Yazurin Sallij said the company is now focused on delivering organic growth, anchored by a series of initiatives in property development, renewable energy and tourism. "We look forward to a strengthened second half of 2025, primarily driven by the Taman Tasik Ardea development, which is a key revenue and profit contributor," he told Business Times, adding that it will serve as a central pillar of Majuperak's recurring income strategy. A significant portion of Majuperak's Q1 earnings came from non-recurring items including a RM5 million land disposal and RM697,000 in dividend income. At the same time, operating cash flow remained negative while receivables more than doubled, suggesting potential pressure on collections or the structuring of recent deals. Still, Muhammad Yazurin maintains that the group is on firmer footing following its 2024 reset. "We are transforming into a leaner, performance-driven organisation with enhanced governance and a sharper mandate aligned to state priorities," he said. Majuperak's expansion into renewable energy via its subsidiary Majuperak Energy Resources Sdn Bhd forms part of its long-term strategy though the segment's current scale remains modest. The unit posted a segment profit of RM672,000 in Q1, reversing a RM60,000 loss a year earlier, according to the company's latest unaudited financial report. Looking ahead, Muhammad Yazurin said initiatives such as commercial solar rooftops, electric vehicle charging hubs and solar street lighting are set to launch this year. He added larger-scale solar projects involving Shizen International Inc, MK Land Holdings Bhd and Gamuda Bhd are expected to start contributing revenue from 2026. Tourism, another strategic pillar, is being scaled with developments at Teluk Batik Resort and Gua Tempurung. The group aims to replicate the success of Tasik Cermin, which reportedly drew 1.2 million visitors. On the commercial front, Majuperak has converted the former Silveritage Galleria into Bazar Ipoh with 94 per cent occupancy and plans to expand programming through a one-stop centre for Perak-made products. In property development, several new housing schemes are in the pipeline, including the RM64.6 million Trong Bakti project slated for the fourth quarter and the RM48 million Changkat Rembian development set for early 2026. The group's pivot toward affordable housing in Perak, including ongoing developments in Batu Gajah, Langkap, Chemor and Ulu Kinta, is expected to form the backbone of its earnings base. However, the segment remains vulnerable to market conditions particularly in terms of demand absorption and rising construction costs. "The group has taken steps to strengthen our board, improve governance and restore financial discipline. We are determined to uplift our current status and continue delivering value to shareholders," said Muhammad Yazurin. On Friday, Majuperak shares rose one sen or 7.69 per cent to close at 14 sen, with 25,800 units traded. This valued the company at RM39.82 million. Year-to-date, it has fallen 28.2 per cent from 19.5 sen on Jan 2.
The Star
3 hours ago
- The Star
Automotive sector faces mixed signals
PETALING JAYA: Earnings of companies in the automotive sector in the recently concluded first quarter of 2025 (1Q25) came in below expectations again, says Kenanga Research. The research firm said earnings were weighed down by external factors and intense competition in the non-national space, where market share is fragmented for vehicles above RM100,000. For example, it noted that Chinese carmaker Chery has started to build its 100,000 capacity unit plant in Hulu Selangor, which would further disrupt the non-national space. Meanwhile, Malaysia's second national carmaker Perodua's back-loaded production to newer models is expected to be launched in the second half of 2025. 'If the intense competition further ramps up with mass localisation of foreign brands, this may result in the market becoming even more fragmented and may weigh on the valuation for other (auto) players,' said Kenanga Research in a report. Currently, only the Chery brand has a concrete completely knocked down or CKD localisation programme, while TQ-Wuling Bingo, an electric car under the Tan Chong Motor group, is looking to do semi knocked-down or SKD. On automotive companies, the research firm said Tan Chong Motor Holdings Bhd's losses were within expectations, as it had anticipated the continued sales volume decline of its bread-and-butter Nissan vehicles. This is compounded by the volatile overseas operating environment, and unfavourable foreign-exchange movements and sales mix. Over at Sime Darby Bhd , its core net profit plunged 11% for the nine months of financial year 2025, dragged by weaker sales and margins for both industrial and automotive segments which overshadowed the robust consolidation of UMW Holdings Bhd 's earnings. As for DRB-Hicom Bhd , core net profit plunged largely due to worsening auto sales and margins, wider sequential quarter losses at its postal and property segments, plus lower profit recognition under the group's banking segment. Touching on Bermaz Auto Bhd (BAuto), it said the company's core net profit halved as vehicles sales volume plummeted on lower margins, which was partially offset by maiden sales of Xpeng vehicles. 'Margins may also face compression risk assuming the yen strengthens amid a hawkish Bank of Japan stance,' Kenanga Research said, adding that the re-rating catalyst for the stock would be the local assembly of the Xpeng and Deepal brands of electric vehicles boosting volume and margins. For 2025, Kenanga Research envisions a 'two-speed automotive market' where it will be business as usual for the affordable segment. 'Our 2025 total industry volume (TIV) forecast of 805,000 units will be driven by the forward buying interest on the deferment of new excise duty regulations to end-2025. We expect Perodua to benefit the most at 44% TIV market share with the highest localisation rate as well as attractive new launches.' With the downgrade in its sector heavyweights such as Sime Darby and DRB-Hicom, it downgrades the auto sector rating to 'neutral' from 'overweight'.
