Latest news with #CGC
The Star
2 days ago
- Business
- The Star
OCBC Al-Amin launches RM100mil PG-i scheme with CGC to boost Bumiputera and women-led SMEs
From left: OCBC Bank (M) Bhd managing director and head of emerging business Chan Kok Leong, OCBC Al-Amin Bank Bhd CEO Tuan Syed Abdull Aziz Syed Kechik, Credit Guarantee Corporation Malaysia Bhd (CGC) president & CEO Datuk Mohd Zamree Mohd Ishak and CGC chief business officer Sean Tan. KUALA LUMPUR: OCBC Al-Amin Bank Bhd has signed a RM100mil Islamic Portfolio Guarantee-i (PG-i) agreement with Credit Guarantee Corporation Malaysia Bhd (CGC) to support the growth of Bumiputera and women-led enterprises. Prior to this, OCBC Al-Amin had already disbursed a total of RM268mil in PG-i schemes with CGC since 2017. In a statement, The bank said the latest PG-i tranche offers up to 50% of the approved financing without collateral, with a maximum loan amount of RM600,000 and a tenure of up to seven years. OCBC Al-Amin CEO Tuan Syed Abdull Aziz Syed Kechik said the RM100mil PG-i scheme aimed to support the growth of Bumiputera and women-led enterprises. 'We are committed to fostering inclusive economic growth by empowering Bumiputera and women entrepreneurs. Through targeted financial solutions and strategic partnerships, we aim to enhance access to financing and market opportunities for SMEs led by these communities. 'We look forward to nurturing sustainable business growth, driving innovation and unlocking the full potential of Malaysia's diverse business community,' he said. OCBC Al-Amin said that while the latest PG-i scheme targets Bumiputera and women-led enterprises, but is open to all SMEs nationwide. OCBC Al-Amin said While the Bank's latest PG-i scheme is aimed at benefitting Bumiputera and women-led enterprises, it is open to all small and medium enterprises (SMEs) in the country. CGC president & chief executive officer, Datuk Mohd Zamree Mohd Ishak said: 'The new RM100mil PG-i tranche reflects a strategic push to channel financing where it can generate meaningful economic impact. By focusing on Bumiputera and women-led MSMEs, we are not only addressing financing gaps but also empowering segments that are vital to Malaysia's future growth.' For more information, visit Entrepreneur Fund-i | OCBC Al-Amin
New Straits Times
2 days ago
- Business
- New Straits Times
OCBC Al-Amin, CGC ink RM100mil portfolio guarantee-i deal
KUALA LUMPUR: OCBC Al-Amin Bank Bhd has signed a RM100 million Islamic portfolio guarantee-i (PG-i) agreement with Credit Guarantee Corporation Malaysia Bhd (CGC) to support the growth of Bumiputera and women-led enterprises. Prior to this, OCBC Al-Amin had already disbursed a total of RM268 million in PG-i schemes with CGC since 2017. The latest PG-i tranche comes without the need for collateral for up to 50 per cent of the approved financing amount. Maximum financing is RM600,000 for a tenure of up to seven years. OCBC Al-Amin chief executive officer Syed Abdull Aziz Syed Kechik said the bank will channel RM100 million in financing to foster inclusive economic growth by empowering Bumiputera and women entrepreneurs. "Through targeted financial solutions and strategic partnerships, we aim to enhance access to financing and market opportunities for SMEs led by these communities. "We look forward to nurturing sustainable business growth, driving innovation and unlocking the full potential of Malaysia's diverse business community," he said. CGC president and chief executive officer Datuk Mohd Zamree Mohd Ishak added that the partnership will create a more inclusive and resilient entrepreneurial landscape. He said the new RM100 million PG-i tranche reflects a push to channel financing where it can generate meaningful economic impact. "By focusing on Bumiputera and women-led MSMEs, we are not only addressing financing gaps but also empowering segments that are vital to Malaysia's future growth," he added. Syed Abdull Aziz added that the PG-i is available to SMEs via OCBC Al-Amin's Entrepreneur Fund-i. "Our approach provides greater convenience to those seeking financing, as it quickens the process of securing it, allowing them to focus then on implementing their business growth plans," he said.
Globe and Mail
4 days ago
- Business
- Globe and Mail
Canopy Growth (CGC) Q1 Revenue Jumps 9%
Key Points - Revenue (GAAP) surged to $72.13 million in Q1 FY2026, beating expectations by 44.8% and rising 9.0% year over year. - Gross margin (GAAP) dropped to 25% in Q1 FY2026, declining 10 percentage points year over year due to shifts in product mix and lower vaporizer sales. - Free cash flow outflow (non-GAAP) improved to $(11.64) million for Q1 FY2026, down from $(55.70) million in Q1 FY2025. These 10 stocks could mint the next wave of millionaires › Canopy Growth (NASDAQ:CGC), a major player in the global cannabis industry known for its medical, adult-use, and vaporizer products, announced its financial results for Q1 FY2026 (prepared in accordance with U.S. GAAP) on August 8, 2025. The most noteworthy headline was a significant outperformance on revenue, reaching $72.1 million compared to analyst expectations of $49.8 million. However, the quarter also saw gross margin compression and wider adjusted EBITDA losses. The period showed early signs of progress in core Canadian cannabis segments, but profitability and margin recovery remain ongoing challenges. Metric Q1 FY2026 (quarter ended June 30, 2025) Q1 FY2026 Estimate Q1 FY2025 (quarter ended June 30, 2024) Y/Y Change EPS (GAAP) $(0.22) $(0.15) $(1.60) 86.3 % Revenue (GAAP) $72.13 million $49.79 million $66.21 million 8.9 % Gross Margin % 25 % 35 % (10.0 pp) Adjusted EBITDA (Non-GAAP) $(7.92) million $(5.28) million (50.0 %) Free Cash Flow (Non-GAAP) $(11.64) million $(55.70) million 79.1 % decrease Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q4 2025 earnings report. Understanding Canopy Growth's Business The company operates across cannabis cultivation, production, and distribution, serving both medical and adult-use (recreational) markets. It also owns the Storz & Bickel brand, producing premium vaporization devices for both medical and recreational consumers. Core operations span Canada, Europe, and Australia, with strategic exposure to the U.S. market via investments in Canopy USA. Recently, its main areas of focus have included cementing its leadership in medical cannabis in Canada and abroad, regaining momentum in the Canadian adult-use segment, developing new vaporizer technology, and tightening financial management. Success in these areas hinges on its ability to manage regulatory changes, control costs, innovate within its product portfolio, and maintain consistent supply—especially for high-value medical products and sought-after new product types like infused pre-roll joints. Quarter in Review: Key Developments and Financial Results Consolidated revenue (GAAP) increased 9% year over year. Driving this, the Canadian adult-use cannabis business surged 43% year over year, aided by broader distribution and strong demand for new manufactured products such as Claybourne infused pre-roll joints. The Canadian medical business also performed well, climbing 13% year over year, mainly from more insured patients and bigger average order sizes through the company's Spectrum Therapeutics online channel. International medical cannabis net revenue in markets like Europe increased 5% year over year, though this growth was partly held back by supply interruptions and prescription rule changes, especially in Poland. Performance in the vaporization technology segment was notably weak. Storz & Bickel, known for its high-end vaporizer devices, saw revenues fall 25% year over year. Management attributed this to tough economic conditions, softer consumer demand, and strong sales comparisons from the prior year. The segment's gross margin (GAAP) shrank by 10 percentage points year over year, with higher manufacturing costs and headcount reductions now underway to support future margin recovery. New product launches are planned for the second half of calendar year 2025 to help turn around this segment. Total gross margin for the company (GAAP) came in at 25%, down 10 percentage points year over year. The main reasons were a heavier mix of lower-margin manufactured cannabis products in Canada (driven by consumer preferences for newer products like infused pre-rolls), reduced higher-margin sales in Poland, and weak vaporizer volumes. Segment-level margins reflected these pressures, with cannabis margins at 24% (down from 33%) and vaporizer margins at 29% (down from 39%). Adjusted EBITDA, a non-GAAP measure, declined to a loss of $(7.92) million, compared to a $(5.28) million loss a year earlier. This wider loss came despite a sharp 21% reduction in selling, general, and administrative expenses, reflecting the company's focus on cost discipline. Free cash flow outflow (non-GAAP) improved, dropping to $(11.64) million, or roughly a fifth of the outflow seen a year earlier. Cash and short-term investment balances increased to $144 million. The company realized $17 million in annualized cost savings toward its $20 million target since March 1, 2025, mostly in corporate overhead. While further cost reduction opportunities were flagged, management stated the majority of the planned $20 million annualized savings target had been achieved, leaving future margin improvement to come from operational gains and top-line growth. The company does not currently pay a dividend. The U.S. expansion strategy continues through Canopy USA, an unconsolidated entity that holds leading cannabis assets like Wana (edibles) and Jetty (vaporizer brands). Canopy USA's annualized sales run rate is approximately $210 million USD for the fiscal year ended December 31, 2024, which is below initial targets. Its portfolio saw underperformance, tied mainly to ongoing difficulties at Acreage (another U.S. cannabis operator), particularly due to lower-than-expected results in Ohio and continued liquidity constraints during FY2024. While these investments offer long-term strategic value if the regulatory environment shifts, they contributed little to the current quarter's results and remain below expectations. From a product perspective, the Canadian portfolio was streamlined to focus on segments with higher demand and better margins, such as high-potency flower, infused pre-roll joints, and vapes. This rationalization involved cutting underperforming stock keeping units (SKUs) and launching new innovations. Claybourne infused pre-roll joints performed especially well, rising 58% sequentially and holding the number two spot for market share in their category in Alberta, and number three nationally. Looking Ahead: Guidance and Investor Considerations Management reaffirmed its focus on reaching positive adjusted EBITDA and improving gross margin as the main financial priorities but did not specify a concrete timeline for achieving these goals. The company is banking on operational improvements, supply chain optimizations, and automation investments to benefit margins in the second half of the fiscal year. New product launches, especially for vaporizer devices, are expected in the second half of 2025 and are positioned as potential growth drivers. No formal forward guidance was provided with respect to revenue or earnings for the next quarter or full year. Management noted high uncertainty within the vaporizer segment and international markets as reasons for withholding concrete projections. Investors should continue monitoring gross margin trends, the progress of cost efficiency programs, and performance in the U.S. investments, as well as the successful rollout of new Canadian products and medical market supply stabilization. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,046%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025
The Star
04-08-2025
- Business
- The Star
CELEBRATING FINANCIAL SYNERGY
CREDIT Guarantee Corporation Malaysia (CGC), a cornerstone of the nation's financial ecosystem for 53 years, recently celebrated the 30th edition of its annual awards, providing a platform to reflect on its enduring mission and future direction. The CGC Awards 2024 - 30th edition, held at Hilton Kuala Lumpur on July 31, were attended by key figures including Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour. 'I would like to thank CGC for their continued role in strengthening access to financing for the unserved and underserved,' said Abdul Rasheed in his special address during the event. 'CGC's partnership with financial institutions has enabled tens of thousands of businesses to access financing they otherwise might not have received. These efforts help sustain jobs, protect livelihoods and ensure viable businesses do not get left behind. 'Looking ahead, let us continue to build a financial ecosystem that not only supports firms at their beginnings, but accompanies them, through every stage of their growth.' More than 280 distinguished guests, including top representatives from financial institutions (FIs), Islamic financial institutions (IFIs), development financial institutions (DFIs), mid-tier companies (MTCs), strategic partners, government agencies and award-winning MSMEs also attended. The event highlighted CGC's evolution from a traditional guarantor to a dynamic institution dedicated to the growth and development of micro, small and medium enterprises (MSMEs). In the past three decades, CGC's philosophy has focused on nurturing MSMEs from their initial stages to full maturity, providing crucial financial support for businesses to thrive independently. This approach has yielded significant results, with over 16,000 MSMEs graduating from CGC's guarantee support between 2019 and 2024 alone. This success metric, where CGC is 'happy to lose its customers', signifies the institution's commitment to fostering self-sustaining businesses. 'As inclusivity remains a key mandate for CGC, we will continue to encourage more substantive and participative forms of business partnerships,' said CGC chairman Mohammed Hussein. CGC chairman Datuk Mohammed Hussein emphasised that resilience in business starts with hands-on leadership and deep operational understanding. 'Resilience often begins with strong, hands-on leadership and a deep understanding of a business's internal dynamics, customer needs, supply chain and the broader ecosystem,' he said. 'Business sustainability hinges on management's ability to navigate these interdependencies — a competency that comes from active participation, not passive ownership. 'As inclusivity remains a key mandate for CGC, we will continue to encourage more substantive and participative forms of business partnerships between races and communities across the economic supply chain.' The institution's commitment to collaboration and inclusivity is evidenced by a slew of initiatives launched last year. These strategic partnerships include working with the Investment, Trade and Industry Ministry to streamline government grants, collaborating with the Securities Commission to explore market-based funding for MSMEs and a groundbreaking partnership with Visa and Alliance Bank to introduce the country's first guaranteed MSME credit card. Additionally, CGC Digital, the corporation's fintech subsidiary, has forged alliances with digital-first players, like Funding Societies Malaysia and Boost Bank, to provide seamless and accessible digital financing solutions. 'These are not just programmes, but pathways to resilience and sustainability,' Mohammed Hussein added. In the pursuit of inclusive and sustainable growth, CGC has also prioritised green and women-led enterprises. To date, it has channelled over RM2.4bil to support high-tech and climate-aligned MSMEs. The BizWanita financing scheme, designed to empower women entrepreneurs, has benefitted 1,163 accounts with over RM77mil in financing, reflecting the growing recognition of women-led businesses as a vital economic force. Looking ahead, CGC is actively shaping the next generation of entrepreneurs through its CGC100 Entrepreneurship Programme, in partnership with the Education Ministry and Pintar Foundation. The programme instils crucial business knowledge and values in young entrepreneurs, particularly from underserved communities. From its initial cohorts, many participants have observed improved business performance and the creation of new jobs, showcasing the programme's potential impact. Since its inception in 1972, CGC has facilitated over 540,000 guarantees and financing to MSMEs valued at over RM100bil. A night of recognition At the CGC 30th Awards 2024, 28 award winners, comprising 24 recipients from FIs, MTCs and MSMEs, were honoured for their achievements across three categories, putting a spotlight on exceptional contributions in financing, innovation and entrepreneurial success. CGC president and chief executive officer Datuk Mohd Zamree Mohd Ishak said MSMEs are the backbone of our economy, and CGC is proud to be entrusted with the mandate to support and empower them. 'This annual awards ceremony is our way of acknowledging the invaluable support from our strategic partners, and of celebrating the achievements of Malaysia's competitive and dynamic MSMEs. 'As we continue to navigate through these challenging times, CGC remains firmly committed to advancing the financial inclusion agenda — ensuring that all deserving MSMEs receive the support they need to thrive,' he said. Over 280 distinguished guests from various financial institutions, partners and MSMEs gathered during CGC's 30th Awards 2024. At the ceremony, CIMB Islamic Bank Bhd was honoured as the Best Financial Partner, Top Islamic FI Partner and Top Bumiputra SMEs FI Partner. Top Conventional FI Partners included Alliance Bank Malaysia Bhd , OCBC Bank (Malaysia) Bhd and Standard Chartered Bank Malaysia Bhd. Additionally, OCBC Al-Amin Bank Bhd and Standard Chartered Saadiq Bhd were named among the Top Islamic FI Partners, while Bank Simpanan Nasional was awarded Top FI Partner – imSME. CGC also awarded special recognition to Bank Muamalat Malaysia Bhd for New Strategic Partnership, and Alliance Bank Malaysia Bhd, Bank Kerjasama Rakyat Malaysia Bhd and Bank Simpanan Nasional for Innovation Excellence. Meanwhile, the Merdeka Awards, which recognise businesses that lead substantive partnerships between races and communities, were presented to Serai Group, Keyfield International Bhd , VSD Automation Sdn Bhd, Gading Kencana Sdn Bhd and Mydin Mohamed Holdings Bhd. The Merdeka Digital Excellence Special Recognition was awarded to Shopee Mobile Malaysia Sdn Bhd for the company's efforts in empowering MSMEs through digital platforms. The recipients of the SME Awards, comprising MFZ Izdihar Enterprise, A&Z North Rich Trading and Era Kejuruteraan for G1 and G2 contractors, and Rintiz Rezky (M) Sdn Bhd, LP Group Sdn Bhd and Perawah Enterprise for G3 contractors and above. Finally, the CGC Developmental Award recognised the sales growth and potential of Nozoly Food Industry Sdn Bhd, Jaqued Holdings Sdn Bhd and TLE Trading Sdn Bhd, upon completion of the 24-month CGC Development Programme. In response to the recognition, CIMB Islamic Bank Bhd group chief executive officer Novan Amirudin said that the awards are a crucial initiative to advance business progress in the country. 'We are honoured to partner with CGC in this extremely important endeavour. At CIMB, our purpose is to advance our customers and society, and to do that, we need to work together with MSMEs so that they can grow and thrive,' he said. 'These awards are a direct reflection of our purpose, and the reason why we embark on this with CGC.'
Yahoo
02-08-2025
- Business
- Yahoo
Canopy Growth Corporation (CGC) Advances While Market Declines: Some Information for Investors
In the latest close session, Canopy Growth Corporation (CGC) was up +1.94% at $1.05. The stock outperformed the S&P 500, which registered a daily loss of 1.6%. Elsewhere, the Dow saw a downswing of 1.23%, while the tech-heavy Nasdaq depreciated by 2.24%. Coming into today, shares of the company had lost 19.53% in the past month. In that same time, the Medical sector lost 3.44%, while the S&P 500 gained 2.25%. Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. The company plans to announce its earnings on August 8, 2025. On that day, Canopy Growth Corporation is projected to report earnings of -$0.15 per share, which would represent year-over-year growth of 59.46%. Alongside, our most recent consensus estimate is anticipating revenue of $47.91 million, indicating a 0.99% downward movement from the same quarter last year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.46 per share and revenue of $198.45 million. These totals would mark changes of +84.56% and +2.66%, respectively, from last year. Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.38% lower. Canopy Growth Corporation currently has a Zacks Rank of #5 (Strong Sell). The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 26% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canopy Growth Corporation (CGC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
