Latest news with #AbdulRazak
Time of India
7 days ago
- General
- Time of India
One more held in Suhas Shetty murder case
Mangaluru: The CCB sleuths of Mangaluru City police arrested one more person in connection with the murder of Hindu activist and rowdy-sheeter Suhas Shetty. According to police, the accused is Abdul Razak,59, hailing from Bajpe and currently residing at an apartment in Kenjar. Tired of too many ads? go ad free now Police said that he is accused of conspiring in the murder along with the main accused, and helping them abscond. It is alleged that he conspired with the key accused, his son Mohammad Muzammil, and his son-in-law Naushad Vamanjoor alias Chotte Naushad. It is also learnt that the planning of the murder took place at his residence, and that he assisted the accused in evading arrest. The investigation into the murder case is ongoing, and efforts are under way to trace the remaining accused involved in the crime. The victim was hacked to death on May 1, and the police subsequently arrested eight persons in connection with the case. Later, three more were arrested, bringing the total number of arrests to 12.
Time of India
30-05-2025
- Time of India
2 arrested for stealing two trucks laden with maize
Hyderabad: The Nirmal police have arrested two individuals in connection with the theft of two lorries carrying harvested maize. The police suspect that more people were involved in the crime. On April 23, Boddula Srinivas, a farmer from Kalluru village, hired two lorries to transport 325 quintals of harvested maize to a poultry farm in Karimnagar. He provided the drivers, Badavath Santosh from Karimnagar and Abdul Razak from Nizamabad, with the address of farm. However, on May 13, Srinivas approached the Narsapur (G) police with a complaint, stating that the maize had not been delivered to the farm. Attempts to contact the two drivers via mobile phone also failed, as their phones had been switched off since April 23. The police formed a special team to investigate the case and arrested Badavath Santosh and Abdul Razak on Thursday while they were travelling from Bhainsa to Nirmal. During the investigation, it was revealed that the two men had sold the entire consignment of maize to a buyer near Kamareddy for Rs 7.38 lakh. Two lorries and three mobile phones used by the accused were seized. SP Janaki Sharmila stated that more people are suspected to be involved in the case and that they will also be arrested soon.
The Star
22-05-2025
- Business
- The Star
Delivering value, empowering communities
LEADING utility company Tenaga Nasional Berhad (TNB) today reaffirmed its commitment to long-term value creation through disciplined capital management, operational resilience and community-focused investments that benefit shareholders and the nation alike. Reflecting this commitment, TNB's Board has declared a total dividend of 51 sen per share - the highest in four years – amounting to RM2.96bil. This is in line with the company's dividend policy of a 60% payout ratio, and delivers direct financial benefits to millions of Malaysians, as more than 60% of TNB shares are collectively held by major Government-Linked Investment Companies (GLICs) such as Permodalan Nasional Berhad (PNB), the Employees Provident Fund (EPF), Khazanah Nasional Berhad, Kumpulan Wang Persaraan (KWAP) and Lembaga Tabung Haji (LTH). It also reflects TNB's consistent track record of sustaining dividend payouts at the upper end of the 30–60% policyrange for the past eight years. 'This dividend payout reflects TNB's commitment to delivering consistent, sustainable returns to our shareholders,' said TNB chairman, Tan Sri Abdul Razak Abdul Majid at the company's 35th Annual General Meeting (AGM) held at Pusat Konvensyen Leo Moggie, TNB Headquarters in Kuala Lumpur. 'These distributions ultimately reach millions of Malaysians, reinforcing national savings, retirement security and broad-based financial wellbeing,' Abdul Razak added. In 2024, TNB also contributed RM874.7mil in tax and zakat, strengthening public finances and supporting community wellbeing nationwide. Advancing inclusive growth through social investment TNB's commitment to nation-building goes beyond financial returns. Through targeted programmes in education, community development and wellbeing, the company channels long-term investments into meaningful outcomes. In 2024, TNB allocated RM140.9mil in contributions and sponsorships across areas such as education, sports and community wellbeing and environment. TNB's initiatives aim to uplift underserved communities, bridge opportunity gaps, and foster social cohesion. Through scholarships, educational programmes, and rural outreach, the company empowers future generations and drives long-term impact. These efforts reflect TNB's commitment to shared prosperity and nation-building beyond its core utility role. As part of its rural outreach efforts, TNB advanced Phase 11 of the Village Street Lighting Programme in 2024, installing over 14,000 energy-efficient LED lights in underserved areas, enhancing safety, connectivity and economic inclusion. Driving operational excellence with purpose While TNB's social investments uplift communities, its core strength lies in the rigorous execution of its operational and strategic priorities. TNB president and chief executive officer, Datuk Ir Megat Jalaluddin Megat Hassan, affirmed the company's focus on sustaining strong returns while investing in the systems and communities that support national development. 'Our strategy is clear — we aim to maintain robust performance while generating long-term value for the rakyat through responsible returns and meaningful impact,' said Megat Jalaluddin. 'By strengthening the reliability of our services, managing costs effectively, and anchoring our efforts in nation-building, we continue to deliver steady value even amid global uncertainties.' This disciplined approach to resilience and responsible leadership is also reflected in how TNB continues to deliver value, both to its shareholders and to the broader economy. Staying the course with focus and purpose Despite global headwinds and evolving industry dynamics, TNB's fundamentals remain strong. The group continues to invest in grid reliability, digital capabilities and operational excellence, ensuring that it remains agile and responsive to future challenges. These translate into fewer power disruptions, faster service recovery and more efficient energy management, ultimately ensuring Malaysians enjoy reliable, secure and affordable electricity. TNB's strong performance also benefited from a confluence of favourable macroeconomic conditions, including a strengthening ringgit and 5.1% national GDP growth, coupled with prudent cost management and operational efficiency. In the lead-up to Langkawi International Maritime and Aerospace Exhibition (LIMA) 2025, a strategic platform for collaboration between the government and industry players, TNB continues to play a crucial behind-the-scenes role in ensuring a stable and reliable electricity supply in Langkawi. The improving macro environment helped spur business activity and consumer confidence, which in turn supported demand growth for electricity across industrial, commercial and residential sectors. These conditions collectively reinforced TNB's resilience in a dynamic operating environment. Malaysia's record-high approved investments of RM378.5bil in 2024, as reported by MITI, also translated into stronger industrial and commercial electricity demand. In this respect, TNB believes it has played a role in sustaining investor confidence and driving long-term economic growth by ensuring a stable and reliable energy infrastructure. These achievements reflect not only TNB's operational excellence but are also aligned with national aspirations of delivering reliable infrastructure, promoting inclusive growth and accelerating the energy transition. It is also in line with Ekonomi Madani, the national framework for shared prosperity, sustainability and social wellbeing. Delivering tangible progress across priority areas In 2024, TNB invested RM11.2bil in capex to accelerate grid modernisation and drive the national energy transition. This includes key upgrades that support the integration of renewable energy and strengthen network resilience across Peninsular Malaysia. The company also maintained a high Customer Satisfaction Index (CSI) score of 87%, reflecting sustained efforts to enhance service quality and customer experience. Capping off a year of operational excellence, TNB's MSCI ESG rating was upgraded to 'A', cementing the group's leadership in sustainability. The rating reflects significant strides in reducing carbon emissions, improving water efficiency and expanding renewable energy adoption. This ESG upgrade not only affirms TNB's commitment to responsible business practices but also aligns with Malaysia's broader sustainability ambitions. It also strengthens investor confidence, supports the country's net-zero aspirations and demonstrates TNB's environmental leadership.
New Straits Times
10-05-2025
- Business
- New Straits Times
Property mismatch: Construction up, sales down
KUALA LUMPUR: The fall in property transactions in the first quarter of 2025 (1Q25), despite a spike in construction activity and new launches, indicates a mismatch between actual market demand and developers' projections or ongoing project commitments. Property analysts told Business Times that this may stem from projects that were planned during more optimistic market conditions now coming to fruition, while buyers are growing more cautious amid economic uncertainties, stricter lending conditions, and affordability challenges. According to the Valuation and Property Services Department, the country's property market slipped in Q1, with transaction volume down 6.2 per cent and value down 8.9 per cent. Its director general Abdul Razak Yusak said the total transactions amounted to 97,772, valued at RM51.42 billion, compared to 104,194 transactions worth RM56.47 billion in the same period of 2024. Abdul Razak said although the property transactions began on a slower note, the pace of construction activity and increase of residential new launches were supported to balance the property market growth and sustain its positive momentum in 2025. Universiti Teknologi Malaysia associate professor in property economics Dr Muhammad Najib Razali said Malaysia has long faced an imbalance between supply and demand, especially in the affordable housing segment. "To address this, developers must strengthen their market analysis and ensure new launches are aligned with real, localised demand, not just general market trends, to avoid oversupply in the wrong segments," he said. Juwai IQI co-founder and group chief executive officer Kashif Ansari said while it may appear contradictory to see a drop in transactions alongside a surge in construction, it is actually a reflection of two separate timelines. "Much of the construction we are seeing now was planned and financed months or years ago. Developers are betting on the future, not just the moment. "The strong results in 2024 gave them even more confidence. The value of construction work done surged 20 per cent last year to RM158.8 billion, with residential building growing nearly 40 per cent," he added. Kashif said while fewer people and companies bought any kind of real estate in the first quarter, that hides the fact that some segments actually improved. "Residential made up 61 per cent of all transactions, demonstrating sustained demand. And look at terraced homes, where prices climbed by 2.2 per cent in a single quarter," he added. Temporary Slowdown Najib said although the first quarter reflects a slowdown, it is too early to conclude that this signals a long-term trend. He said Malaysia's property market has historically been cyclical, and seasonal or short-term factors (such as timing of launches, interest rate expectations, or political developments) can influence quarterly numbers. "However, if economic uncertainties persist or consumer confidence weakens, we could see the softer trend continue through the mid-year, though pockets of resilience might remain, especially in affordable housing or niche market segments," he added. Meanwhile, Kashif said the first-quarter slowdown appears to be a temporary pause, pointing out that the beginning of the year is typically quieter and that global uncertainties likely caused some buyers to hold back. "But Malaysia has solid fundamentals, like stable interest rates and steady job growth, and I expect momentum to return in the second quarter and third quarter. "The number of transactions will increase because buyers who held back out of worries about the global situation will go ahead with their purchases. "One thing that gives me confidence is the rise in new launches. Developers do not commit unless they believe demand will follow," he added. Kashif said sales activity typically rebounds within a quarter or two, and if sentiment remains stable, many of the delays seen in the first quarter could translate into transactions in the second half of the year.
New Straits Times
10-05-2025
- Business
- New Straits Times
Property mismatch: Construction up, sale down
KUALA LUMPUR: The fall in property transactions in the first quarter of 2025 (1Q25), despite a spike in construction activity and new launches, indicates a mismatch between actual market demand and developers' projections or ongoing project commitments. Property analysts told Business Times that this may stem from projects that were planned during more optimistic market conditions now coming to fruition, while buyers are growing more cautious amid economic uncertainties, stricter lending conditions, and affordability challenges. According to the Valuation and Property Services Department, the country's property market slipped in Q1, with transaction volume down 6.2 per cent and value down 8.9 per cent. Its director general Abdul Razak Yusak said the total transactions amounted to 97,772, valued at RM51.42 billion, compared to 104,194 transactions worth RM56.47 billion in the same period of 2024. Abdul Razak said although the property transactions began on a slower note, the pace of construction activity and increase of residential new launches were supported to balance the property market growth and sustain its positive momentum in 2025. Universiti Teknologi Malaysia associate professor in property economics Dr Muhammad Najib Razali said Malaysia has long faced an imbalance between supply and demand, especially in the affordable housing segment. "To address this, developers must strengthen their market analysis and ensure new launches are aligned with real, localised demand, not just general market trends, to avoid oversupply in the wrong segments," he said. Juwai IQI co-founder and group chief executive officer Kashif Ansari said while it may appear contradictory to see a drop in transactions alongside a surge in construction, it is actually a reflection of two separate timelines. "Much of the construction we are seeing now was planned and financed months or years ago. Developers are betting on the future, not just the moment. "The strong results in 2024 gave them even more confidence. The value of construction work done surged 20 per cent last year to RM158.8 billion, with residential building growing nearly 40 per cent," he added. Kashif said while fewer people and companies bought any kind of real estate in the first quarter, that hides the fact that some segments actually improved. "Residential made up 61 per cent of all transactions, demonstrating sustained demand. And look at terraced homes, where prices climbed by 2.2 per cent in a single quarter," he added. Temporary Slowdown Najib said although the first quarter reflects a slowdown, it is too early to conclude that this signals a long-term trend. He said Malaysia's property market has historically been cyclical, and seasonal or short-term factors (such as timing of launches, interest rate expectations, or political developments) can influence quarterly numbers. "However, if economic uncertainties persist or consumer confidence weakens, we could see the softer trend continue through the mid-year, though pockets of resilience might remain, especially in affordable housing or niche market segments," he added. Meanwhile, Kashif said the first-quarter slowdown appears to be a temporary pause, pointing out that the beginning of the year is typically quieter and that global uncertainties likely caused some buyers to hold back. "But Malaysia has solid fundamentals, like stable interest rates and steady job growth, and I expect momentum to return in the second quarter and third quarter. "The number of transactions will increase because buyers who held back out of worries about the global situation will go ahead with their purchases. "One thing that gives me confidence is the rise in new launches. Developers do not commit unless they believe demand will follow," he added. Kashif said sales activity typically rebounds within a quarter or two, and if sentiment remains stable, many of the delays seen in the first quarter could translate into transactions in the second half of the year.
