SuriaGroup posts RM46.07 mil revenue in 1QFY25
Published on: Friday, May 23, 2025
Published on: Fri, May 23, 2025 Text Size: Suria Capital Holdings Berhad (SuriaGroup) reported RM46.07 million in revenue and RM15.48 million in profit before tax for the first quarter ended 31 March 2025 (1QFY25), down from RM73.83 million and RM19.75 million respectively in the same period last year. The decline stems from the transition of Sapangar Bay Container Port (SBCP) operations to DPW Sabah Sdn. Bhd., a joint venture with DP World in which SuriaGroup holds a 49 pc stake. As a result, SBCP's financials are no longer fully consolidated into SuriaGroup's accounts, but reflected via equity accounting. Despite the short-term financial dip, SuriaGroup views the JV as a strategic move for long-term growth, tapping into DP World's global network and port expertise. Port operations remained the core revenue driver, while cargo throughput dropped due to the SBCP transition. Other business segments remained stable. Property leasing and tourism-related operations showed steady contributions, while Phase 2 of the Jesselton Quay project and other high-value developments with BEDI Development continue to progress. Looking ahead, SuriaGroup is engaging with the Sabah government on new port tariffs and concession extension talks and remains confident in delivering long-term value despite short-term recalibrations. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * 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
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Express
2 hours ago
- Daily Express
RM2 for every rat caught in Kota Kinabalu
Published on: Thursday, June 26, 2025 Published on: Thu, Jun 26, 2025 By: Sisca Humphrey Text Size: Sabin symbolically launching the rodent control campaign by spraying water along the road to Safma fish market. Kota Kinabalu: City Hall (DBKK) is offering RM2 for every rat caught and handed in under a month-long rodent control campaign launched at the Central Market here, Wednesday. Mayor Datuk Seri Sabin Samitah said the campaign is part of a national programme involving 10 local authorities across the country and aims to curb rat infestations while improving hygiene in public markets. 'Kota Kinabalu was selected to represent Sabah. The goal is to ensure cleanliness in our markets and stop the spread of diseases such as leptospirosis caused by rat urine,' he said at the launching of 2025 Local Authority Rodent Control Campaign. He said rats not only pose a health risk but also damage the city's image, especially in key areas like the Central Market. The campaign, which runs until July 31 this year, kicked off with a joint clean-up involving market traders, DBKK officers, health officials and the Fire and Rescue Department. Sabin said DBKK conducts regular rodent control but this initiative expands the effort to cover other hotspots, including fruit and handicraft markets around the city. To encourage public participation, DBKK will pay RM2 for every rat caught and submitted by traders or members of the public. 'The incentive begins on July 1 and submissions can be made at the DBKK station inside the Central Market. We hope the community will work together. If more rats are caught, fewer problems later,' he said. He also noted that DBKK is working to ensure sufficient rubbish bins and proper waste collection to avoid spillover that attracts pests. 'From January to June this year, DBKK caught 528 rats across the city. At the Central Market alone, 187 rats were caught, compared to 111 during the same period last year,' he said. He also highlighted that the campaign is part of the National Healthy Malaysia Agenda and supports ongoing efforts to build a cleaner and safer urban environment. 'Traders are also encouraged to register as Smart City Friends to strengthen cooperation with DBKK,' Sabin said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * 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
Daily Express
2 hours ago
- Daily Express
Employers, foreign workers to start mandatory EPF contribution from October
Published on: Thursday, June 26, 2025 Published on: Thu, Jun 26, 2025 By: FMT Reporters Text Size: Foreign workers will have mandatory EPF contributions deducted from their wages under a new policy effective October. PETALING JAYA: Starting with October's wages, employers and their non-Malaysian workers must each contribute 2% of their monthly pay to the Employees Provident Fund. EPF said the new rule applies to all foreign workers, except domestic workers, who possess valid passports and work permits issued by the immigration department, Bernama reported. Currently, participation in the EPF scheme by non-Malaysian workers is voluntary. 'The move to make EPF contributions mandatory for this group is a significant step forward in supporting the national agenda to ensure that all workers, regardless of nationality, have access to social protection, thus promoting equity and fairness in the labour market,' it was quoted as saying in a statement today. EPF said it is intensifying engagement and consultation efforts with employers and key stakeholders to ensure comprehensive readiness ahead of the implementation of the new ruling. More than 30 strategic engagement sessions have been conducted since the announcement of the 2025 budget, involving the home ministry, immigration department, the Federation of Malaysian Manufacturing, NGOs and representatives of employers and foreign workers. The EPF also urged employers to register their companies via the official website or at any EPF office nationwide. Further enquiries may be directed to the EPF contact and service advice centre at 03-8922 6000. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * 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
Daily Express
11 hours ago
- Daily Express
Gas Malaysia signs MoU to bring British clean tech to Southeast Asia
Published on: Wednesday, June 25, 2025 Published on: Wed, Jun 25, 2025 Text Size: SHAH ALAM: Gas Malaysia has teamed up with UK-based Levidian to explore the rollout of its methane-cracking Loop technology in deal was inked to support Gas Malaysia's clean energy goals and drive regional adoption of decarbonisation tech. Loop turns methane into clean hydrogen and captures carbon as graphene, a 'supermaterial' used in everything from batteries to construction. A pilot unit will be deployed in Malaysia as a testbed before potential expansion across Southeast Asia. Gas Malaysia CEO Ahmad Hashimi Abdul Manap said the partnership bolsters the company's ESG strategy and taps into new revenue streams. He added that the move into graphene aligns with Malaysia's New Industrial Master Plan and advanced materials roadmap. Advertisement Levidian CEO John Hartley said the collaboration aims to deliver environmental and economic value while scaling sustainable graphene production. The project forms part of Gas Malaysia's GM32 roadmap to strengthen its gas business and diversify into cleaner solutions. Both parties expressed confidence in Loop's commercial potential and its role in Malaysia's energy transition. The signing ceremony was witnessed by senior representatives from both companies at a recent event in Shah Alam. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * 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
