Latest news with #700
New Straits Times
2 days ago
- Business
- New Straits Times
FGV's Q1 profit misses expectations despite higher FFB output, says HLIB
KUALA LUMPUR: FGV Holdings Bhd's first quarter (Q1) 2025 net profit fell below the analyst's expectation, said Hong Leong Investment Bank Bhd (HLIB). "The company's Q1 2025 net profit of RM23.3 million fell short of expectations, accounting for only 7.2 per cent and 7.7 per cent of consensus and the firm's full-year estimates, respectively," the bank said. Despite facing less-than-favourable weather conditions, HLIB said FGV's fourth month of 2025 (4M25) FFB output growth of 12.7 per cent beat Malaysia's fresh fruit bunch (FFB) output growth of -1.0 per cent during the same period, and management attributed the stark productivity improvement to enhanced estate practices and better labour availability. Given the strong FFB output achieved year to date (YTD), management raised its FY25 FFB output growth guidance to eight to 10 per cent (from five to eight per cent earlier). On its CPO production cost guidance, HLIB said despite improved productivity, FGV's ex-mill CPO production cost increased by 5 per cent to RM3,040 per metric tonne (mt) in Q1 2025, due to higher harvesting, transportation and manuring costs. "FGV anticipates such cost to ease to less than RM2,700 per mt for the full year, mainly on the back of lower fertiliser cost," it said. Overall, HLIB has cut its financial year 2025 (FY25) to FY27 net profit forecasts by 22.1 per cent/16.2 per cent/15.9 per cent, mainly to account for lower FFB milling and oils & fats margin assumptions. "Maintain Hold rating, with an unchanged target price of RM1.30 (i.e., FELDA's latest takeover offer price)," it added.
New Straits Times
3 days ago
- Business
- New Straits Times
Retired engineer loses over RM200,000 to investment scam
SIBU: A retired private-sector engineer from here lost RM224,403 in a month after falling victim to an online investment scam that falsely promised lucrative returns of up to RM750,000. Sibu police chief ACP Zulkipli Suhaili said the victim, a man in his 60s, only realised he had been scammed when he was asked to pay an additional RM100,700 as 'tax' to withdraw the supposed investment profits, which did not exist. He said the victim was initially drawn to the so-called investment offer, promoted as the 'Investment Stock Market' by a company named KKR Investment on Instagram on April 9. "Later, he received further explanation via WhatsApp from someone claiming to be a company representative. "If the victim agreed, he was required to download the KKR Investment app for registration purposes. "He was also informed that all accumulated profits could be viewed through the app," he said in a statement. Between April 9 and May 7, the victim made 11 money transfers totalling RM224,403 to four different local bank accounts. He then contacted the representative again when the investment app showed his profits had reached RM750,000. Zulkipli said that when the victim was asked to make an additional payment of RM100,700 as a tax to withdraw the funds, he began to suspect he was being scammed and subsequently filed a police report in Sibu on Tuesday. The case is being investigated under Section 420 of the Penal Code for cheating. Zulkipli advised the public to exercise caution and not be easily tempted by offers of high returns through online investment schemes. – Bernama
The Sun
3 days ago
- Business
- The Sun
Retired engineer loses over RM200,000 to investment scam
SIBU: A retired private-sector engineer from here lost RM224,403 in a month after falling victim to an online investment scam that falsely promised lucrative returns of up to RM750,000. Sibu police chief ACP Zulkipli Suhaili said the victim, a man in his 60s, only realised he had been scammed when he was asked to pay an additional RM100,700 as 'tax' to withdraw the supposed investment profits, which did not exist. He said the victim was initially drawn to the so-called investment offer, promoted as the 'Investment Stock Market' by a company named KKR Investment on Instagram on April 9. Later, he received further explanation via WhatsApp from someone claiming to be a company representative. 'If the victim agreed, he was required to download the KKR Investment app for registration purposes. He was also informed that all accumulated profits could be viewed through the app,' he said in a statement. Between April 9 and May 7, the victim made 11 money transfers totalling RM224,403 to four different local bank accounts. He then contacted the representative again when the investment app showed his profits had reached RM750,000. Zulkipli said that when the victim was asked to make an additional payment of RM100,700 as a tax to withdraw the funds, he began to suspect he was being scammed and subsequently filed a police report in Sibu on Tuesday. The case is being investigated under Section 420 of the Penal Code for cheating. Zulkipli advised the public to exercise caution and not be easily tempted by offers of high returns through online investment schemes.
GMA Network
3 days ago
- General
- GMA Network
No major lotto jackpot winners on Wednesday, May 28, 2025
The Philippine Charity Sweepstakes Office (PCSO) said there were no winners of the major lotto jackpot draws on Wednesday, May 28, 2025. The winning numbers for the Grand Lotto 6/55 jackpot worth P29,700,000 are 51-49-21-17-47-54. For Megalotto 6/45, the correct combination of 12-27-36-14-19-29, would have won P10,494,427.60. For more lotto results, visit here. —RF, GMA Integrated News
Barnama
3 days ago
- Business
- Barnama
Retired Engineer Loses Over RM200,000 To Investment Scam
SIBU, May 28 (Bernama) -- A retired private-sector engineer from here lost RM224,403 in a month after falling victim to an online investment scam that falsely promised lucrative returns of up to RM750,000. Sibu police chief ACP Zulkipli Suhaili said the victim, a man in his 60s, only realised he had been scammed when he was asked to pay an additional RM100,700 as 'tax' to withdraw the supposed investment profits, which did not exist. He said the victim was initially drawn to the so-called investment offer, promoted as the 'Investment Stock Market' by a company named KKR Investment on Instagram on April 9. Later, he received further explanation via WhatsApp from someone claiming to be a company representative.
