Latest news with #530
New Straits Times
15 hours ago
- Business
- New Straits Times
IOI Corp's FFB growth target maintained at 2.5pct for FY2025
KUALA LUMPUR: IOI Corporation Bhd is maintaining its fresh fruit bunch (FFB) output growth target at 2.5 per cent for the financial year 2025 (FY25), said Hong Leong Investment Bank Bhd (HLIB Research). According to the bank, FFB production has rebounded both month-on-month and year-on-year since March 2025, supported by favourable weather conditions. "The output recovery has helped to narrow the group's year-to-date (YTD) FFB output decline to just 0.3 per cent for the first ten months of FY25. "Management indicated that the recovery trend is likely to continue in the coming months, potentially allowing IOI Corp to exceed its initial FY25 FFB output growth guidance of one to two per cent. "As such, we maintain our FY25 FFB output growth assumption of 2.5 per cent," it said in a note. Meanwhile, HLIB Research noted that several factors, including lower FFB output, the minimum wage hike effective February 2025, and a higher windfall profit levy, contributed to a 1.3 per cent YoY increase in IOI Corp's crude palm oil (CPO) production cost for the third quarter of FY25 (3Q25), raising it to RM2,530 per metric tonne. This brought the average CPO production cost for the first nine months of FY25 to RM2,104 per metric tonne, representing a 1.5 per cent decline compared to the same period last year. Given the anticipated strong FFB output in 4Q25, the firm said management remains confident in keeping the full-year CPO production cost below RM2,100 per metric tonne. Furthermore, HLIB Research said IOI Corp's decent performance in the manufacturing segment is expected to be sustained into 4Q25, if not improved further. It added that earnings at the manufacturing segment improved QoQ in 3Q25, with a profit of RM81.4 million, primarily driven by margin expansion at the refinery sub-segment, which more than mitigated weakness at the oleochemical and speciality fats sub-segments. "Management shared that earnings at the manufacturing segment should at least track 3Q25's performance (if not better), supported by sustained performance at the refining sub-segment arising from stable margins and improving availability of feedstock. "This includes gradual demand recovery for oleochemical products, albeit input prices remained elevated, as well as an improving contribution from the speciality fats sub-segment (as production normalised from the loss of production)," it said. On that note, HLIB Research also highlighted that IOI Corp's accelerated replanting programme, covering 8,000 to 9,000 hectares per annum since FY19, will continue into FY26. This is expected to reduce the group's average age profile to approximately 13 years by the end of FY26. The firm also noted that construction of the zero-waste paper pulp plant, undertaken through Nextgreen IOI Pulp Sdn Bhd (NIP), a 45 per cent owned joint venture unit of IOI Corp, is scheduled to begin in the first half of 2026 (1H26), with completion targeted by the end of 2027. Upon completion, it said the facility will have an initial annual production capacity of 150,000 metric tonnes of chemical bleached pulp.
Yahoo
23-05-2025
- Politics
- Yahoo
‘Public safety' package clears latest hurdle, offers changes but keeps lower detention age of 11
State Sen. Carolyn Bosn of Lincoln. May 19, 2023. (Zach Wendling/Nebraska Examiner). LINCOLN — A 'public safety' package on Thursday cleared a second lawmaking hurdle and retains what has been the most controversial element — lowering the minimum age at which a youth can be detained from 13 to 11. Before Legislative Bill 530 passed on a 35-9 vote, however, lawmakers approved smaller juvenile-justice related changes to address some concerns of certain lawmakers and nonprofits, said State Sen. Carolyn Bosn, chair of the Legislature's Judiciary Committee. Among modifications was a requirement that all temporary and alternative placement options be exhausted before a child age 11 or 12 would be detained in a facility, which critics say causes lasting trauma. Removed as a reason a youth could be detained was 'harm to self' language. 'We didn't want to create an illusion that we were detaining youth who might be going through a mental health crisis,' said Bosn. Also changed was the name of a new designation a court could bestow on certain youth offenders. Omaha State Sen. Ashlei Spivey had taken issue with the earlier proposed 'high-risk juvenile probationer' category, comparing it to a 'super predator' flag that would disproportionately harm youths of color. Amended language now refers to those youths as 'comprehensive supervision probationers.' In the end, Spivey was among nine 'no' votes, joining State Sen. Terrell McKinney of North Omaha, who was unsuccessful in garnering support for additional changes. For example, he wanted to limit which law enforcement levels are to receive a monthly list of 'comprehensive supervision probationers' generated by the Office of Probation Administration. McKinney proposed that the list be provided only to high-ranking officers, not those below the rank of captain. He said his concern was the 'rogue' law enforcement officers who can misuse such information to 'provoke' or unfairly target youths. He said that happens disproportionately in his district. McKinney noted during Thursday's debate that a teen was dead after being shot by a Douglas County sheriff's deputy that morning. The investigation is ongoing. 'I'm trying to make sure more lives don't get lost,' McKinney said. Bosn said that no one likely would be completely satisfied with the juvenile justice parts of the public safety package, but she called the results so far a 'showing of good will.' Spivey said that while some parts still give her 'heartburn,' she appreciated the process to try to reach a compromise on parts opponents said were overly punitive. Bosn, a former prosecutor, views the overall package as promoting public safety while also better re-directing juveniles who have veered into trouble. LB 530 includes an underlying bill introduced by State Sen. Kathleen Kauth of Omaha which aims to increase fines for speeding violations and to change the law to help 'vulnerable road users.' Segments of at least nine bills were folded into the megabill before the Legislature's Judiciary Committee moved it to the floor for full debate. Lawmakers advanced it 33-0 in the first round and now, after approval Thursday, it moves to final reading. Other components folded into the package: LB 6, introduced by Bosn and aimed at fentanyl poisoning, calls for enhanced penalties when the person using the controlled substance dies or sustains serious injury. LB 44, by McKinney, allows individuals to file for post-conviction relief up until the age of 21 if the conviction occurred as a minor. LB 124, by State Sen. Rick Holdcroft of Bellevue, would match a drunken driver's penalty for motor vehicle homicide of an unborn child to the penalty that drunken driver would get for motor vehicle homicide. LB 395, by State Sen. Barry DeKay of Niobrara, would allow police access to a sealed juvenile record when someone applies for a concealed handgun permit. LB 404, by State Sen. Robert Hallstrom of Syracuse, authorizes courts to extend a term of probation upon a joint application from the probation officer and the person on probation. LB 600, by State Sen. Wendy DeBoer of Omaha, authorizes the Department of Transportation to temporarily reduce speed limits on highways under specific conditions such as adverse weather or traffic congestion. LB 684, by State Sen. Eliot Bostar of Lincoln, was essentially gutted and replaced by a series of juvenile justice measures, including the lowering of the age at which a youth could be detained in a facility. That element, which sparked criticism from many during a public hearing, was originally part of a bill by Ralston State Sen. Merv Riepe. Bosn said the Judiciary Committee sees the measures as ways to 'improve accountability for juveniles and transparency for law enforcement.' Spivey said the detainment measures were among the package's most concerning, and that prevention and rehabilitation services are more effective when dealing with young people whose brains are still developing. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
GSM Arena
20-05-2025
- Business
- GSM Arena
This is when the Nothing Phone (3) is coming
Last month, Nothing CEO Carl Pei revealed that the Nothing Phone (3) would arrive in Q3 this year, meaning any time between July and September. Today, the brand gave us a more definite timeframe for the Phone (3)'s launch. Nothing dropped a short video clip on X, with its caption revealing the Phone (3) is coming in July. The brand didn't provide us with the launch date, but we know the smartphone will be priced around £800. That's about $1,070/€950/INR91,530 at current exchange rates. Phone (3). It's a magic number. Coming July 2025. — Nothing (@nothing) May 20, 2025 This revelation came from Pei, who also said that the Phone (3) would come with "premium materials," "major performance upgrades," and "software that really levels things up." You can expect to hear more about the Nothing Phone (3) as we inch closer to its launch.
New Straits Times
15-05-2025
- New Straits Times
Man fined RM6,000, told to pay RM5,000 for vandalising Sri Gading MP's vehicle
BATU PAHAT: The magistrate's court here today fined a man RM6,000 for damaging a vehicle belonging to the Sri Gading member of parliament's service centre last Saturday. Muhammad Azrie Abul Hassan Ashari, 37, pleaded guilty before magistrate Arun Noval Dass. He faces 12 months in jail if he failed to pay the fine. The court also ordered the accused to pay RM5,000 in compensation to the Sri Gading MP's service centre. Failure to do so could result in a further four months' imprisonment. According to the charge, the former nursery teacher, who is also a biomolecular science graduate, was accused of deliberately committing mischief by damaging a 59-year-old woman's vehicle, causing losses amounting to RM7,530. The offence took place at Dewan Haji Aminolhuda, Parit Yaani, at 11am on May 10. The accused was charged under Section 427 of the Penal Code, which carries a maximum sentence of five years' imprisonment, a fine, or both, upon conviction. According to the facts of the case, the complainant, an officer from the service centre, spotted an unknown man smashing the front and rear windscreens of the vehicle, as well as damaging the side mirrors with an iron hammer. After noticing the complainant, the accused fled on a motorcycle. A police report was lodged the same day. Police arrested the accused in Tongkang Pechah at 3pm the same day. An identification parade was conducted with two service centre staff members. They both confirmed that the accused was the perpetrator. The prosecution was led by deputy public prosecutor Farah Wahidah Mohd Sharif, while the accused was represented by Tan Song Yan. Sri Gading member of parliament Aminolhuda Hassan was present to observe the court proceedings. Following sentencing, the accused requested permission to meet Aminolhuda in person to apologise for his actions.
Business Recorder
13-05-2025
- Business
- Business Recorder
Lucky Core Industries proposes 5-for-1 stock split to enhance investor accessibility
Lucky Core Industries (LCI) has informed the exchange that its Board of Directors (BoD) has proposed the sub-division of equity shares subject to shareholder approval. 'It is hereby informed that in order to improve investor accessibility and participation, the BoD of Lucky Core Industries Limited has approved a sub-division of the face value of the shares of the company, subject to the approval of the members,' read the notice on Tuesday. As per the proposal, the face value of each ordinary share be reduced from Rs10 to Rs2 per share. 'As a result, the company's subscribed and paid-up capital, currently comprising 92,359,050 ordinary shares of Rs10 each, will be restructured into 461,795,250 ordinary shares of Rs2 each.' Thatta Cement plans 5-for-1 stock split to broaden investor base The company said that following the stock split, shareholders will be entitled to receive five shares of Rs2 each for every one share of Rs10 held. 'An Extraordinary General Meeting will be convened in due course to obtain members' approval for the above-mentioned matters,' it added. Following the announcement, LCI's stock price surged by Rs69.98, or 4.79%, and at the time of filing was hovering at Rs1,530 per share. LCI was incorporated in Pakistan as a public limited company as Khewra Soda Ash Company in 1953. In 1966, after a year of acquiring Fuller Paints Limited, the company changed its name to ICI Pakistan Manufacturers Limited. Later, Imperial Chemicals (Private) Limited was also merged into the company. In 2012, Lucky Holdings Limited acquired the majority shareholding of the company from AkzoNobel and became the holding company of LCI. The company changed its name from ICI Pakistan Limited to Lucky Core Industries Limited in December 2022. The company undertook other major acquisitions of Cirin Pharmaceuticals Limited, Wyeth Pakistan Limited, and Pfizer Pakistan Limited in the subsequent years. The company is engaged in five diverse businesses i.e. soda ash, polyester, chemicals & agri sciences, pharmaceuticals and animal health.
