DRB-Hicom to sustain focus on digital transformation
The group will continue to strengthen business fundamentals to support resilience and long-term sustainability.
PETALING JAYA: DRB-Hicom Bhd will remain focused on advancing digital transformation across key sectors such as banking and postal services, as part of its ongoing efforts to improve operational efficiency.
In a filing with Bursa Malaysia, the company said for its aerospace and defence, services and properties divisions, the group will continue to strengthen business fundamentals to support resilience and long-term sustainability.
'The group anticipates a moderate outlook for the financial year ending Dec 31, 2025.'
For the first quarter ended March 31, 2025 (1Q25), DRB-Hicom's net profit plunged to RM17.72mil from RM91.54mil in the previous corresponding quarter.
DRB-Hicom said the lower result was mainly due to weaker contributions from the automotive, postal and property sectors, driven by softer sales and higher operating costs.
Revenue in 1Q25 dipped to RM4.11bil from RM4.33bil a year earlier.
DRB-Hicom said it reported lower revenue for its automotive, aerospace and defence, postal and properties sectors.
'The decline in revenue was primarily due to lower sales volume of Proton vehicles and lower revenue from manufacturing and engineering companies. The aerospace and defence sector recorded lower revenue, mainly driven by the decrease in product deliveries,' it said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
14 hours ago
- Malay Mail
Ancom Nylex moves to take full control of delisted Nylex through capital reduction plan
KUALA LUMPUR, June 7 — Ancom Nylex Bhd is seeking to take full ownership of its former subsidiary, Nylex (M) Bhd, following the latter's delisting from Bursa Malaysia in March this year. According to The Edge, the proposal involves a selective capital reduction and repayment exercise, with entitled shareholders set to receive a total capital repayment of RM5.3 million, or 5.1 sen per share, in cash. The exercise is to be carried out by Ancom Nylex and its wholly owned unit, Rhodemark Development Sdn Bhd. The two entities, which currently control 42.21 per cent of Nylex, will become the sole shareholders upon completing the plan. The offer price of 5.1 sen per share for the remaining 103.89 million shares, representing a 57.79 per cent stake, is based on Nylex's net assets of RM16.96 million, minus deferred tax assets of RM7.79 million, divided by its share base of 179.79 million shares. According to the report, in a letter of offer issued yesterday, Ancom Nylex and Rhodemark said the proposed capital reduction exercise would be funded through Nylex's internal funds. Several persons acting in concert (PACs), who collectively own a 0.33 per cent stake in Nylex, are also participating as entitled shareholders. The PACs include Datuk Siew Ka Wei and his family, Tan Sri Mohamad Fuzi Harun, Low Huoi Seong, Rizainal Mustaffa, and Asmariah Ismail. Siew, who serves as Nylex's group managing director and is also the executive vice chairman of Ancom Nylex, is among its major shareholders. Ancom Nylex and Rhodemark explained that consolidating full control of Nylex would provide them with greater flexibility in determining the company's business direction, The Edge reported. They also noted that the plan offers entitled shareholders a timely opportunity to realise their investments. As of the end of May, Nylex had 12,145 shareholders. Nylex was delisted on March 11 after failing to secure an extension to submit its regularisation plan. It had been classified as a Practice Note 17 (PN17) company following the divestment of all its assets and liabilities to Ancom Nylex, then known as Ancom Bhd, in January 2022. The RM179.3 million deal was a mix of cash and shares. Shares in Ancom Nylex closed at 95 sen yesterday, up half a sen or 0.53 per cent, giving the company a market capitalisation of RM1.11 billion.
Free Malaysia Today
a day ago
- Free Malaysia Today
Bursa slaps 5 directors of real estate company with RM350,000 fine
Bursa Malaysia Securities said it views the breach seriously, as an immediate announcement was crucial to shareholders and investors in that it related to Meridian Bhd's level of operations to warrant continued trading or listing on the Official List. (Bernama pic) PETALING JAYA : Bursa Malaysia Securities Bhd has fined five directors of real estate services company Meridian Bhd a total of RM350,000 for failure to immediately announce that the company had an insignificant business or operations. Bursa said Meridian had been publicly reprimanded for breach of the Main Market Listing Requirements following the announcement of the unaudited quarterly report for the financial period ended June 30, 2023 (Q4 2023) on Aug 29 that year. 'Meridian had an insignificant business or operations based on Q4 2023, where the company's revenue of RM2.738 million on a consolidated basis represented 0.93% of the company's share capital of RM294.021 million as at June 30. 'Meridian only made the first announcement on Sept 26 after a delay of 28 days,' it said in a statement. Bursa named the five directors as former CEO Yap Ting Hau, who resigned on Dec 29, 2023, Tang Boon Koon, Chew Shin Yong, Ng Kok Hok and Kunamony S Kandiah. Yap and Tang were fined RM100,000 each, while Chew, Ng and Kunamony were fined RM50,000 each. 'Bursa Malaysia Securities views the breach seriously, as the first announcement was crucial to shareholders and investors in that it related to Meridian's level of operations to warrant continued trading or listing on the Official List,' said the bourse. It said there will be possible suspension and delisting if Meridian fails to regularise its level of operations within the timeframes prescribed by the listing requirements. 'Timely disclosure is important towards facilitating informed investment decisions,' it said.
New Straits Times
a day ago
- New Straits Times
Microlink may emerge as substantial shareholder in Omesti via debt deal
KUALA LUMPUR: Microlink Solutions Bhd has entered into a settlement agreement with Omesti Bhd to partially settle RM8.5 million in debt owed by the latter through new shares, a move that could see Microlink emerge as a substantial shareholder in the technology group. The deal covers part of a total RM30.03 million outstanding owed by Omesti to Microlink for services rendered, the group said in a filing with Bursa Malaysia today. It is expected to be completed by the third quarter. Under the agreement, Omesti will issue up to 85 million new shares to Microlink at a minimum price of 10 sen per share, translating into an indicative 13.6 per cent equity stake in Omesti upon completion. Microlink said the proposed settlement was a pragmatic move to reduce receivables and mitigate default risk. "The board, save for Tan Wee Hoong who has abstained from deliberating and voting, after having considered all aspects of the proposal, is of the opinion that it is in the best interest of the company," it said. The group's audit and risk management committee agreed, describing the transaction as "fair, reasonable and on normal commercial terms" and "not detrimental to the interest of the minority shareholders." The settlement is conditional on approvals from Omesti's shareholders, Bursa Malaysia, and other relevant authorities. If the conditions are not met within 90 days, Microlink may terminate the deal and seek full repayment. In the event of default, Microlink said it also reserves the right to pursue legal action and seek full indemnification of recovery costs. The group does not expect any material impact on its share capital, gearing or earnings per share, as the transaction is non-cash in nature. It also said the settlement will not trigger a mandatory takeover offer. Microlink and Omesti are related parties. Omesti indirectly owns a 25.8 per cent stake in Microlink via its subsidiary, Omesti Holdings Bhd. Microlink director Tan Wee Hoong also sits on Omesti's board.
