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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
2 hours ago
- Borneo Post
Azmab Eline lands 18kg stingray to win Fishing Grand Prix in Belawai
Yusuf (third left) and the winners give a thumbs-up after the prize presentation ceremony. – Ukas photo BELAWAI (June 9): Azmab Eline from Kampung Jerijih emerged as the champion in the second series of the Fishing Grand Prix, organised by Iftitah Beach Resort. Reeling in a stingray weighing 18.056 kilogrammes (kg), Azmab secured the top spot and took home a cash prize of RM10,000. Second and third place went to Bujang Bernard (13.82 kg) and Ahmad Bujang Suaidi (8.58 kg), earning RM3,000 and RM1,000 respectively. According to a report by Sarawak Public Communications Unit, a total of 295 anglers from across Sarawak participated in the competition, held at Belawai Beach yesterday. The event ran from 9am to 4pm, drawing over 500 visitors, including local residents and tourists. Tanjong Manis MP Yusuf Abd Wahab, who officiated the closing ceremony, described the event as a positive step towards promoting tourism and boosting the local economy. He said the initiative not only provided a platform for anglers to showcase their skills but also created opportunities for local entrepreneurs, allowing them to market food products, fresh seafood, and handicrafts to visitors. Yusuf pledged his continued support for such programmes, aiming for future expansion and improvements. Meanwhile, Iftitah Beach Resort owner Ibnie Ekni announced that the third series of the Fishing Grand Prix is set to take place this September, promising more attractive prizes and an enhanced experience. The Fishing Grand Prix continues to be recognised as a successful effort in establishing Belawai as a destination for community-based and nature tourism. Belawai Beach Fishing Grand Prix lead Yusuf Abd Wahab
The Sun
3 hours ago
- The Sun
Tax Matters – Are independent directors employees or consultants?
ARE independent directors' employees of the company, or are they consultants providing services to the company? The treatment for e-invoicing, service tax and income tax will be dependent on the answer to this question. At the moment, the treatments adopted for e-invoicing, service tax and income tax do not seem to be aligned. The common thread running across the treatment of e-invoicing, service tax and income tax is whether the independent director is an employee or a consultant. This will be based on whether the director has entered into a contract of service or a contract for service with the company. There is no definition of either of the terms in the literature surrounding the above matter. The general understanding from case laws is that contract of service denotes that there is an employee-employer relationship, while a contract for service is for a consultant carrying on his profession or business. For e-invoicing purposes and service tax purposes, an independent director will be engaged under a contract for service since he will be providing independent views and expert opinion to the board of directors. Effectively, he is earning income as a consultant – therefore it is treated as business income. If this line of thinking is adopted for income tax, and in particular, the monthly deduction of tax (MTD), the independent director should not be subject to any MTD as he is not an employee of the company. What is happening in practice? In majority of the cases, companies are applying MTD to director fees and allowances received by independent directors. This is incorrect because independent directors are not employees receiving remuneration from companies for exercising employment. The correct approach should be for the Inland Revenue Board (IRB) to collect advance taxes through the bimonthly deduction mechanism using the CP500 approach instead of deduction through MTD. Independent directors who have a contract for services with companies should file their tax returns using Form B which is meant for individuals carrying on a business, and the filing deadline for such forms is June 30 every year, but the IRB normally grants a grace period up to July 15 to submit Form B. Directors who have a contract of service are treated as employees, and their income will be subject to MTD, and they need to file a Form BE by April 30 every year, but there is a grace period of up to May 15. Independent directors whose income exceeds RM500,000 annually need to issue e-invoices to the companies they serve for their director fees and allowances. They will also need to register for service tax and impose a service tax of 8% on their services provided. Deciding when the RM500,000 threshold is exceeded is based on reviewing your past 12 months and based on your forecast for the next 12 months. The time at which you register is not based on any tax year, but it is based on a 12-month 'rolling basis'. For e-invoicing purposes, the threshold of exemption has recently increased to RM500,000. This threshold is calculated based on the calendar year. The 2022 revenues are used as a starting point to decide whether the independent director should issue e-invoices. However, if the independent director in the subsequent years exceeds the RM500,000 threshold, then, depending on the level of income, e-invoicing has to commence. If, for example, the income from director fees is more than RM500,000 but less than RM1 million in calendar year 2025, it appears that you need to commence e-invoicing from July 1, 2026. If you are still in doubt, it is best to seek a written view or a confirmation from the IRB and the Royal Malaysian Customs Department to avoid any future disputes with both authorities.
Borneo Post
4 hours 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
