State govt projects RM42.48b revenue for Visit Johor Year 2026
ISKANDAR PUTERI, May 21 — The Johor state government is targeting RM42.48 billion in tourism revenue in conjunction with the upcoming Visit Johor Year 2026, said Menteri Besar Datuk Onn Hafiz Ghazi.
He said the figure was calculated based on an average per capita tourist expenditure of RM3,500.
Onn Hafiz expressed optimism that the target could be achieved if 12 million domestic and international tourists visit the state.
'To make the celebration a success, various tourism upgrade projects have been undertaken, with an allocation of RM116.35 million for this year and last year,' he said during a question-and-answer session at the Johor state legislative assembly in Kota Iskandar today.
Onn Hafiz, who is also the Machap assemblyman, was responding to a question from Norlizah Noh (BN-Johor Lama) regarding the state government's preparations for Visit Johor Year 2026.
The upgrade projects in Johor include the second phase of Johor Zoo, upgrades to Gunung Ledang, Tanjung Piai National Park, Royal Botanical Gardens, Abu Bakar Royal Museum, Sultan Abu Bakar Heritage Complex, and the Heroes Museum.
He said the success of Visit Johor Year 2026 would also bring benefits to Johoreans.
'Although these upgrades are to welcome international tourists, locals will benefit as ticket prices for them are cheaper than those for foreign visitors.
'For example, at Johor Zoo, the ticket price for foreign tourists is RM30, while locals pay RM10. The various upgrades will also boost the downstream economy involving the local community.
'We are also planning to organise several international-class events, including the Johor Bangsa Carnival, International Museum Day, and the Johor Global Symposium.
'Sports-themed events such as the Iron Man programme, the Viper Challenge, triathlon, and Dragon Boat Regatta are also planned.
'The involvement of popular sports icons like Sonny Bill Williams and Datuk Lee Chong Wei will help ensure the success of these programmes,' said Onn Hafiz.
The menteri besar also addressed criticism from some quarters claiming there was nothing interesting in Johor.
'In fact, there are many activities here besides shopping malls and food and beverage offerings,' he said, adding that Johor has yet to realise its true potential.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 days ago
- Yahoo
State govt projects RM42.48b revenue for Visit Johor Year 2026
ISKANDAR PUTERI, May 21 — The Johor state government is targeting RM42.48 billion in tourism revenue in conjunction with the upcoming Visit Johor Year 2026, said Menteri Besar Datuk Onn Hafiz Ghazi. He said the figure was calculated based on an average per capita tourist expenditure of RM3,500. Onn Hafiz expressed optimism that the target could be achieved if 12 million domestic and international tourists visit the state. 'To make the celebration a success, various tourism upgrade projects have been undertaken, with an allocation of RM116.35 million for this year and last year,' he said during a question-and-answer session at the Johor state legislative assembly in Kota Iskandar today. Onn Hafiz, who is also the Machap assemblyman, was responding to a question from Norlizah Noh (BN-Johor Lama) regarding the state government's preparations for Visit Johor Year 2026. The upgrade projects in Johor include the second phase of Johor Zoo, upgrades to Gunung Ledang, Tanjung Piai National Park, Royal Botanical Gardens, Abu Bakar Royal Museum, Sultan Abu Bakar Heritage Complex, and the Heroes Museum. He said the success of Visit Johor Year 2026 would also bring benefits to Johoreans. 'Although these upgrades are to welcome international tourists, locals will benefit as ticket prices for them are cheaper than those for foreign visitors. 'For example, at Johor Zoo, the ticket price for foreign tourists is RM30, while locals pay RM10. The various upgrades will also boost the downstream economy involving the local community. 'We are also planning to organise several international-class events, including the Johor Bangsa Carnival, International Museum Day, and the Johor Global Symposium. 'Sports-themed events such as the Iron Man programme, the Viper Challenge, triathlon, and Dragon Boat Regatta are also planned. 'The involvement of popular sports icons like Sonny Bill Williams and Datuk Lee Chong Wei will help ensure the success of these programmes,' said Onn Hafiz. The menteri besar also addressed criticism from some quarters claiming there was nothing interesting in Johor. 'In fact, there are many activities here besides shopping malls and food and beverage offerings,' he said, adding that Johor has yet to realise its true potential.
Yahoo
21-05-2025
- Yahoo
Partners Value Investments Inc. Announces Q1 2025 Interim Results
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) -- Partners Value Investments Inc. (the 'Company', TSX: PVF.A) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars. The Company recorded net income of $972 million for the three months ended March 31, 2025, compared to a net loss of $175 million in the prior year quarter. The increase in income was primarily due to current period remeasurement gains of $953 million associated with the retractable common shares compared to remeasurement losses of $214 million in the prior year quarter. The Company's retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective depreciation or appreciation of the Partnership unit price as the retractable shares are recognized at fair value based on the quoted price of the Partnership's Equity LP units. During the quarter, the Partnership unit price decreased by $13.71 compared to an increase of $3.11 in the prior year quarter. Excluding retractable share and warrant liability remeasurement gains and losses, and dividends paid on retractable shares, Adjusted Earnings for the Company was $30 million for the three months ended March 31, 2025, compared to Adjusted Earnings of $34 million in the prior year quarter. Adjusted Earnings were lower in the current quarter as higher investment income and valuations gains were more than offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter. As at March 31, 2025, the market prices of a Brookfield Corporation ('BN', NYSE/TSX: BN) and Brookfield Asset Management Ltd. ('BAM', NYSE/TSX: BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively. Consolidated Statements of Operations (Unaudited)For the three months ended March 31(Thousands, US dollars) 2025 2024 Investment income Dividends $ 30,125 $ 26,685 Other investment income 7,177 4,035 37,302 30,720 Expenses Operating expenses (1,131 ) (2,150 ) Financing costs (10,062 ) (8,179 ) Retractable preferred share dividends (8,380 ) (8,240 ) (19,573 ) (18,569 ) Other items Investment valuation gains 7,212 924 Retractable share remeasurement gains (losses) 952,569 (213,630 ) Warrant liability remeasurement (losses) gains (3,267 ) 9,926 Amortization of deferred financing costs (912 ) (884 ) Foreign currency gain 115 12,453 Current tax (expense) recovery (361 ) 8,069 Deferred tax expense (1,102 ) (4,158 ) Net income (loss) $ 971,983 $ (175,149 ) Financial Profile The Company's principal investments are its interest in 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests. The information in the following table has been extracted from the Company's Consolidated Statements of Financial Position: Consolidated Statements of Financial Position (Unaudited)As at(Thousands, US dollars) March 31, 2025 December 31, 2024 Assets Cash and cash equivalents $ 308,044 $ 156,952 Accounts receivable and other assets 77,882 69,776 Investment in Brookfield Corporation 1 6,339,885 6,949,656 Investment in Brookfield Asset Management Ltd.2 1,492,635 1,669,488 Investment in Brookfield Wealth Solutions Ltd.3 428,460 471,651 Other investments carried at fair value 655,069 669,397 $ 9,301,975 $ 9,986,920 Liabilities and Equity Accounts payable and other liabilities $ 44,964 $ 42,824 Corporate borrowings 208,094 208,168 Preferred shares4 838,560 703,044 Retractable common shares 6,360,356 7,312,467 Exchangeable shares 282,186 — Warrant liability 497,252 494,710 Deferred tax liability 9,469 7,933 8,240,881 8,769,146 Equity Accumulated deficit (6,130,077 ) (6,821,786 ) Accumulated other comprehensive income 7,181,112 8,027,580 Non-controlling interests 10,059 11,980 $ 9,301,975 $ 9,986,920 The investment in Brookfield Corporation ('BN') consists of 121 million BN shares with a quoted market value of $52.41 per share as at March 31, 2025 (December 31, 2024 – $57.45). The investment in Brookfield Asset Management Ltd. ('BAM') consists of 31 million BAM shares with a quoted market value of $48.45 per share as at March 31, 2025 (December 31, 2024 – $54.19). Brookfield Wealth Solutions Ltd. ('BWS') Class A shares are exchangeable into BN Class A shares on a one-for-one basis. Represents $851 million of retractable preferred shares less $12 million of unamortized issue costs as at March 31, 2025(December 31, 2024 – $712 million less $9 million). For further information, contact Investor Relations at ir@ Note: This news release contains 'forward-looking information' within the meaning of Canadian provincial securities laws and 'forward-looking statements' within the meaning of applicable Canadian securities regulations. The words 'potential' and 'estimated' and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information. Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company's documents filed with the securities regulators in Canada. The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company's forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or in to access your portfolio
Yahoo
20-05-2025
- Yahoo
Partners Value Investments Inc. Announces Q1 2025 Interim Results
TORONTO, May 20, 2025 (GLOBE NEWSWIRE) -- Partners Value Investments Inc. (the 'Company', TSX: PVF.A) announced today its financial results for the three months ended March 31, 2025. All amounts are stated in U.S. dollars. The Company recorded net income of $972 million for the three months ended March 31, 2025, compared to a net loss of $175 million in the prior year quarter. The increase in income was primarily due to current period remeasurement gains of $953 million associated with the retractable common shares compared to remeasurement losses of $214 million in the prior year quarter. The Company's retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective depreciation or appreciation of the Partnership unit price as the retractable shares are recognized at fair value based on the quoted price of the Partnership's Equity LP units. During the quarter, the Partnership unit price decreased by $13.71 compared to an increase of $3.11 in the prior year quarter. Excluding retractable share and warrant liability remeasurement gains and losses, and dividends paid on retractable shares, Adjusted Earnings for the Company was $30 million for the three months ended March 31, 2025, compared to Adjusted Earnings of $34 million in the prior year quarter. Adjusted Earnings were lower in the current quarter as higher investment income and valuations gains were more than offset by the absence of foreign currency gains and tax recoveries recognized in the prior year quarter. As at March 31, 2025, the market prices of a Brookfield Corporation ('BN', NYSE/TSX: BN) and Brookfield Asset Management Ltd. ('BAM', NYSE/TSX: BAM) share were $52.41 and $48.45, respectively. As at May 20, 2025, the market prices of a BN and BAM share were $58.98 and $58.82, respectively. Consolidated Statements of Operations (Unaudited)For the three months ended March 31(Thousands, US dollars) 2025 2024 Investment income Dividends $ 30,125 $ 26,685 Other investment income 7,177 4,035 37,302 30,720 Expenses Operating expenses (1,131 ) (2,150 ) Financing costs (10,062 ) (8,179 ) Retractable preferred share dividends (8,380 ) (8,240 ) (19,573 ) (18,569 ) Other items Investment valuation gains 7,212 924 Retractable share remeasurement gains (losses) 952,569 (213,630 ) Warrant liability remeasurement (losses) gains (3,267 ) 9,926 Amortization of deferred financing costs (912 ) (884 ) Foreign currency gain 115 12,453 Current tax (expense) recovery (361 ) 8,069 Deferred tax expense (1,102 ) (4,158 ) Net income (loss) $ 971,983 $ (175,149 ) Financial Profile The Company's principal investments are its interest in 121 million Class A Limited Voting Shares of BN and approximately 31 million Class A Limited Voting Shares of BAM. This represents approximately an 8% interest in BN and a 2% interest in BAM as at March 31, 2025. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests. The information in the following table has been extracted from the Company's Consolidated Statements of Financial Position: Consolidated Statements of Financial Position (Unaudited)As at(Thousands, US dollars) March 31, 2025 December 31, 2024 Assets Cash and cash equivalents $ 308,044 $ 156,952 Accounts receivable and other assets 77,882 69,776 Investment in Brookfield Corporation 1 6,339,885 6,949,656 Investment in Brookfield Asset Management Ltd.2 1,492,635 1,669,488 Investment in Brookfield Wealth Solutions Ltd.3 428,460 471,651 Other investments carried at fair value 655,069 669,397 $ 9,301,975 $ 9,986,920 Liabilities and Equity Accounts payable and other liabilities $ 44,964 $ 42,824 Corporate borrowings 208,094 208,168 Preferred shares4 838,560 703,044 Retractable common shares 6,360,356 7,312,467 Exchangeable shares 282,186 — Warrant liability 497,252 494,710 Deferred tax liability 9,469 7,933 8,240,881 8,769,146 Equity Accumulated deficit (6,130,077 ) (6,821,786 ) Accumulated other comprehensive income 7,181,112 8,027,580 Non-controlling interests 10,059 11,980 $ 9,301,975 $ 9,986,920 The investment in Brookfield Corporation ('BN') consists of 121 million BN shares with a quoted market value of $52.41 per share as at March 31, 2025 (December 31, 2024 – $57.45). The investment in Brookfield Asset Management Ltd. ('BAM') consists of 31 million BAM shares with a quoted market value of $48.45 per share as at March 31, 2025 (December 31, 2024 – $54.19). Brookfield Wealth Solutions Ltd. ('BWS') Class A shares are exchangeable into BN Class A shares on a one-for-one basis. Represents $851 million of retractable preferred shares less $12 million of unamortized issue costs as at March 31, 2025(December 31, 2024 – $712 million less $9 million). For further information, contact Investor Relations at ir@ Note: This news release contains 'forward-looking information' within the meaning of Canadian provincial securities laws and 'forward-looking statements' within the meaning of applicable Canadian securities regulations. The words 'potential' and 'estimated' and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information. Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company's documents filed with the securities regulators in Canada. The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company's forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or in to access your portfolio
