Fiamma records robust Q1 FY25 performance, driven by trading, property segment gains
Profit before tax surged by 761% to RM41.09 million from RM4.77 million in Q1 FY24, supported by strong operational performance across all segments and a one-off gain arising from the dilution of equity interests in subsidiaries.
The trading and services segment, contributing 79.2% of total revenue, achieved steady growth, increasing to RM78.01 million from RM77.10 million previously, with segment PBT improving to RM10.91 million from RM9.30 million.
This reflects sustained demand and efficient operational management.
The group's property development segment showed notable improvement, contributing 19.5% of total revenue.
Revenue rose to RM19.25 million from RM17.32 million, and the segment returned to profitability, achieving a profit before tax of RM0.80 million compared to a loss of RM1.44 million in the same quarter last year.
Commenting on the encouraging quarterly performance, Fiamma group CEO Tan Chee Wee said the company's robust Q1 FY25 performance reflects the continuous efforts to enhance operational efficiency and capitalise on market opportunities.
'The strategic joint venture with Samyou to launch our new Vino brand in the air conditioner segment underscores our commitment to diversifying our product offerings and driving future growth.
'Additionally, we remain dedicated to ongoing investments in brand-building initiatives to strengthen our market presence and competitive edge,' he said in a statement.
Fiamma recently entered into a strategic joint venture with Samyou to establish its presence in the air conditioner market through the new Vino brand, expanding its product portfolio and leveraging synergies between both companies.
Looking ahead, Fiamma remains optimistic about its growth trajectory despite global economic uncertainties.
The group is focused on innovation, operational enhancements, and product portfolio expansion, particularly in smart and energy-efficient solutions.
Ongoing and planned property development projects, including those in Johor Bahru, Sungai Besi, and Kuala Lumpur, are expected to positively contribute to future profitability.
'Our strategic focus remains clear: enhancing operational efficiency, expanding our distribution channels, and consistently delivering innovative solutions to ensure sustainable growth and value for our stakeholders,' Tan said.
Looking ahead, Tan said Fiamma remains optimistic about its growth trajectory despite global economic uncertainties.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
a day ago
- New Straits Times
S&P 500, Nasdaq end at record closing highs as moderate inflation lifts rate hopes
NEW YORK: The S&P 500 and the Nasdaq scored record closing highs on Tuesday, as news that July inflation rose broadly in line with expectations bolstered bets on a Federal Reserve interest rate cut next month. The Labour Department said the Consumer Price Index (CPI) rose 0.20 per cent on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from US President Donald Trump to lower interest rates. Yields on shorter-dated Treasury bonds – a reflection of interest rate expectations – slipped and rate futures showed traders are giving an 88.80 per cent chance that the Fed could lower rates by about 25 basis points in September. "The CPI data is supportive for equities overall, getting some good news with the Fed looking more on track to cut in September and potentially more transitory inflation," said Katherine Bordlemay, co-head of client portfolio management, fundamental equities at Goldman Sachs Asset Management. "The first thing I'd guide is continue to lean into the theme of the big are getting bigger. We continue to have conviction around mega-tech and technology." Alphabet shares rose 1.20 per cent as Perplexity made a US$34.50 billion cash offer to buy the company's Chrome browser. Intel Corp climbed 5.60 per cent after Trump said he met its CEO, Lip-Bu Tan, on Monday, praising Tan and calling the meeting "very interesting." Last week, Trump demanded Tan's immediate resignation, calling him "highly conflicted" over his ties to Chinese firms. The Dow Jones Industrial Average rose 483.52 points, or one per cent, to 44,458.61, the S&P 500 gained 72.31 points, or 1.13 per cent, at 6,445.76 and the Nasdaq Composite advanced 296.50 points, or 1.39 per cent, to 21,681.90. The quality of economic data remains a concern weeks after Trump fired the head of the Bureau of Labour Statistics following downward revisions to previous months' nonfarm payrolls counts. Markets are monitoring developments around Trump's nominee, E.J. Antoni, to the bureau commissioner post and potential candidates for the Fed's top job. "This is still early innings of this process and just as the Fed will be beginning to cut rates in the autumn, that's when the inflation data will probably start to be registering some of these more direct tariff price increases and it's going to complicate the rate-cutting decision," said John Velis, a macro strategist at BNY. Relief came as the US and China extended their tariff truce until Nov 10, staving off triple-digit duties on each other's goods. US stocks have rallied in recent weeks on the back of strong tech earnings, easing trade tensions, and increased rate cut expectations. Inflows into US stocks last week were the largest in two years, BofA Global Research data showed. The Russell 2000 index, tracking small-cap companies, advanced almost three per cent. An index tracking airline stocks surged 8.87 per cent, its biggest one-day rise in over a month after data showed airfares rose four per cent in July. Bank stocks rallied, with the S&P 500 Banks index up 2.10 per cent, as analysts said a steepening yield curve could help bank earnings as lenders could borrow cheap and lend at a higher rate. Cardinal Health dropped seven per cent after the drug distributor said it will buy healthcare management firm Solaris for US$1.90 billion. Advancing issues outnumbered decliners by a 4.26-to-1 ratio on the NYSE. There were 484 new highs and 60 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.69-to-1 ratio. The S&P 500 posted 27 new 52-week highs and 12 new lows while the Nasdaq Composite recorded 104 new highs and 96 new lows. Volume on US exchanges was 16.40 billion shares, compared with the 18.30 billion average for the full session over the last 20 trading days.
The Star
a day ago
- The Star
S&P 500, Nasdaq close at record closing highs
The Dow rose 483.52 points, or 1.10%, to 44,458.61, the S&P 500 gained 72.31 points, or 1.13%, at 6,445.76 and the Nasdaq advanced 296.50 points, or 1.39%, to 21,681.90. NEW YORK: The S&P 500 and the Nasdaq scored record closing highs on Tuesday, as news that July inflation rose broadly in line with expectations bolstered bets on a Federal Reserve interest rate cut next month. The Labor Department said the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from US President Donald Trump to lower interest rates. Yields on shorter-dated Treasury bonds – a reflection of interest rate expectations – slipped and rate futures showed traders are giving an 88.8% chance that the Fed could lower rates by about 25 basis points in September. "The CPI data is supportive for equities overall, getting some good news with the Fed looking more on track to cut in September and potentially more transitory inflation," said Katherine Bordlemay, co-head of client portfolio management, fundamental equities at Goldman Sachs Asset Management. "The first thing I'd guide is continue to lean into the theme of the big are getting bigger. We continue to have conviction around mega-tech and technology." Alphabet shares rose 1.2% as Perplexity made a US$34.5 billion cash offer to buy the company's Chrome browser. Intel Corp climbed 5.6% after Trump said he met its CEO, Lip-Bu Tan, on Monday, praising Tan and calling the meeting "very interesting." Last week, Trump demanded Tan's immediate resignation, calling him "highly conflicted" over his ties to Chinese firms. The Dow Jones Industrial Average rose 483.52 points, or 1.10%, to 44,458.61, the S&P 500 gained 72.31 points, or 1.13%, at 6,445.76 and the Nasdaq Composite advanced 296.50 points, or 1.39%, to 21,681.90. The quality of economic data remains a concern weeks after Trump fired the head of the Bureau of Labor Statistics following downward revisions to previous months' nonfarm payrolls counts. Markets are monitoring developments around Trump's nominee, E.J. Antoni, to the bureau commissioner post and potential candidates for the Fed's top job. "This is still early innings of this process and just as the Fed will be beginning to cut rates in the autumn, that's when the inflation data will probably start to be registering some of these more direct tariff price increases and it's going to complicate the rate-cutting decision," said John Velis, a macro strategist at BNY. Relief came as the US and China extended their tariff truce until November 10, staving off triple-digit duties on each other's goods. US stocks have rallied in recent weeks on the back of strong tech earnings, easing trade tensions, and increased rate cut expectations. Inflows into US stocks last week were the largest in two years, BofA Global Research data showed. The Russell 2000 index, tracking small-cap companies, advanced almost 3%. An index tracking airline stocks surged 8.87%, its biggest one-day rise in over a month after data showed airfares rose 4% in July. Bank stocks rallied, with the S&P 500 Banks index up 2.1%, as analysts said a steepening yield curve could help bank earnings as lenders could borrow cheap and lend at a higher rate. Cardinal Health dropped 7% after the drug distributor said it will buy healthcare management firm Solaris for US$1.9 billion. Advancing issues outnumbered decliners by a 4.26-to-1 ratio on the NYSE. There were 484 new highs and 60 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.69-to-1 ratio. The S&P 500 posted 27 new 52-week highs and 12 new lows while the Nasdaq Composite recorded 104 new highs and 96 new lows. Volume on US exchanges was 16.40 billion shares, compared with the 18.3 billion average for the full session over the last 20 trading days. — Reuters
Focus Malaysia
2 days ago
- Focus Malaysia
PGB clinches top shareholder returns award at The Edge Centurion Club's corporate Awards 2025
MAIN Market-listed property developer Paragon Globe Bhd (PGB) (formerly Goh Ban Huat Bhd) has been honoured with the 'Highest Returns to Shareholders Over Three Years' award at The Edge Malaysia Centurion Club Corporate Awards 2025. The annual prestigious award celebrates Malaysia's best-performing small and mid-cap companies. The accolade for 'Highest Returns to Shareholders' is a purely merit-based recognition which is presented to the listed company that has delivered the highest risk-adjusted total returns to its investors based on independently audited data. PGB's win is a direct result of the group's disciplined financial management and a strategic focus on optimising its landbank in high-growth corridors. This achievement was driven by the successful execution of its diversified portfolio, particularly the high-potential and sustainable industrial and commercial projects like Desa 27@Desa Cemerlang and PGB Hostel@ Pekan Nenas that have captured strong market demand. 'This award is a testament to our team's commitment to value creation and disciplined execution of our strategies,' commented PGB's executive chairman Datuk Seri Edwin Tan Pei Seng. 'We've worked hard to position PGB as a trusted developer with strong fundamentals by focusing on high-potential and sustainable developments. The results are reflected in our shareholder returns and our market reputation.' Tan further expects the group's on-going and upcoming developments io continue to underpin growth in the years ahead. They include the Desa 27 and Desa 100 industrial parks; Pekan Sentral Phase 3; detached factories D2 in Pekan Nenas; the PGB Hostel; Selgate Specialist Hospital Sepang as well as upcoming flagship residential projects Calia Residences, The Iconic and Kensington Parkview township in Iskandar Puteri, Johor. 'Moving forward, we remain focused on sustainable growth, supported by the industrial property sector's robust demand in Johor, especially with the Johor-Singapore Special Economic Zone a (JS-SEZ) and RTS Link enhancing regional connectivity,' envisages Tan. 'At the same time, our commitment to ESG (environment, social and governance) principles, including the pursuit of GreenRE certifications across our projects, positions PGB strongly for long-term value creation.' All in all, the latest rcognition underscores PGB's resilience, adaptability and strong governance, thus re-affirming its place as one of Malaysia's top-performing small and mid-cap companies. At the close of today's (Aug 12), market trading, PGB was unchanged at 60.5 sen with 10,400 shares traded, thus valuing the company at RM452 mil. – Aug 12, 2025
