Latest news with #EverGreen
The Sun
07-05-2025
- Business
- The Sun
Heineken Malaysia delivers steady quarterly performance
PETALING JAYA: Heineken Malaysia Bhd delivered steady performance and sustained its momentum in a dynamic market landscape in the first quarter ended March 31, 2025 (Q1'25). In the first quarter, the group experienced a slight decline in revenue by 3% compared to the same quarter in 2024. The decrease is primarily influenced by the timing of Chinese New Year (CNY), with this year's festive period occurring in January, resulting in an earlier sell-in activity that took place in the fourth quarter of last year. Despite the slight decline in revenue in Q1'25, the group maintained steady profit before tax (PBT) of RM161 million and net profit of RM122 million, demonstrating strength and stability. Managing director Martijn van Keulen (pix) said, 'Our performance this quarter was impacted by an earlier CNY and post-festive demand normalisation. We are resilient in maintaining our profitability, and it reflects our disciplined cost management and focus on financial efficiency. As we build momentum for 2025, we will continue our growth journey through our EverGreen strategy. This strategy is anchored on driving superior growth with a cost-conscious mindset, catering to evolving consumer preferences, embedding sustainability into our operations, investing in becoming the best-connected brewer, and most importantly, unlocking the potential of our people.' On outlook, Martijn shared, 'As we move forward, we anticipate that consumer sentiment will be shaped by inflationary pressures and ongoing global economic uncertainties, particularly those arising from tariff-related issues and escalating geopolitical trade tensions, which could impact consumer confidence and spending patterns. Nevertheless, we will continue to navigate the dynamic landscape with agility, driving topline growth through targeted commercial initiatives while maintaining disciplined cost control and operational efficiency to sustain healthy margins. We will continue to future-proof the business, as we execute our EverGreen strategy in navigating the evolving external environment.' The board of directors does not recommend any dividend in respect of the quarter ended. In 2024, the group paid RM1.45 billion in taxes, representing 52% of its total revenue. The excise duty is one of the highest in the world. This highlights Heineken Malaysia's contribution to the economy and creating value for the country and its people. The group applauds the government's decision to maintain excise duties on beers in Budget 2025, as any hike in excise rates will drive greater demand for illicit alcohol. Heineken Malaysia regards illicit alcohol as a serious issue and remains committed to supporting the government in mitigating illicit trade through holistic efforts, including enforcement collaboration and raising greater awareness in the market.
The Star
06-05-2025
- Business
- The Star
Heineken Malaysia maintains stable profits in 1Q25
Heineken Malaysia managing director Martijn van Keulen. PETALING JAYA: Heineken Malaysia Bhd expects consumer sentiment to be impacted by inflationary pressures and ongoing global economic uncertainties. These uncertainties are driven by the newly introduced US tariffs and escalating US–China trade tensions, which may affect consumer confidence and spending behaviour. For the first quarter ended March 31, 2025 (1Q25), the brewery's net profit was marginally lower by 0.3% year-on-year (y-o-y) to RM122.2mil or earnings per share of 40.44 sen. Revenue in 1Q25 was down by 3% y-o-y to RM763.6mil, primarily influenced by the timing of Chinese New Year (CNY). The company said this year's festive period fell in January, resulting in an earlier sell-in activity that took place in 4Q24. In comparison, CNY in 2024 took place in February, driving a more concentrated sales period within 1Q24 as sales momentum spanned both January and February; while the festive boost in 1Q25 tapered off after January. The company added despite the low single-digit revenue decline, its profits remained stable and resilient, delivering a flat year-on-year performance in 1Q25. Particularly, effective cost management and improved financial efficiency, as reflected in lower interest expenses during the quarter improved its operating leverage. Heineken Malaysia managing director Martijn van Keulen said the group will continue to navigate the dynamic landscape with agility, driving topline growth through targeted commercial initiatives while maintaining disciplined cost control and operational efficiency to sustain healthy margins. 'We will continue to future-proof the business, as we execute our EverGreen strategy in navigating the evolving external environment. 'This strategy is anchored on driving superior growth with a cost-conscious mindset, catering to evolving consumer preferences, embedding sustainability into our operations, investing in becoming the best-connected brewer, and most importantly, unlocking the potential of our people,' he said. Further, the group said it appreciates the government's decision to maintain excise duties on beers in Budget 2025, as any hike in excise rates will drive greater demand for illicit alcohol. 'The group remains committed to supporting the government in mitigating illicit trade through holistic efforts, including enforcement collaboration and raising greater awareness in the market,' it said.
Business Wire
05-05-2025
- Business
- Business Wire
Renewable Properties Commences Construction on Three California Projects Totaling 17 MW of Solar and 16 MWh of Storage
SAN FRANCISCO--(BUSINESS WIRE)-- Renewable Properties, a developer and investor in small-scale utility, community solar, energy storage, and electric vehicle infrastructure projects, has broken ground on three new solar projects in California. Scheduled for completion in 2025, the projects will deliver over 17 MWdc of clean, renewable power to customers through programs offered by Sonoma Clean Power (SCP) and Pacific Gas and Electric (PG&E). Optus Bank, Pathward ®, N.A., and BridgePeak Energy Capital are providing two construction loans to fund the three California projects. The first loan, totaling $16.3 million, will support the construction of Redemeyer Road Solar project. The second loan, totaling $19.518 million, will finance the construction of Althea Phase I and Althea Phase II. The power from the 5.56 MWdc Redemeyer, located in Ukiah, California, will be procured by Sonoma Clean Power (SCP), the community choice aggregator (CCA) that serves Sonoma and Mendocino counties. SCP will use the generation for its EverGreen program. This unique shared solar program offers SCP subscribers 100% local, renewable power that runs 24/7 from solar, energy storage, and geothermal facilities that are sited within Sonoma and Mendocino counties. In addition to the solar generation, Redemeyer will incorporate a 4 MWdc/16 MWh energy storage system, which will shift solar energy from when it is generated in the middle of the day to the evening when SCP's customers need it most. Once completed in Q3 2025, Redemeyer will generate enough solar electricity to power 1,021 average homes per year and offset 5,667 tons of carbon dioxide annually. Renewable Properties also commenced construction on the Althea Avenue Solar Phases 1 and 2 projects in Fresno County, California. Both phases will complete construction by Q4 2025. The 6.42 MWdc Althea Solar Phase 1 will generate enough electricity to power 1,311 homes per year and offset the equivalent of 7,275 tons of carbon dioxide annually. Its renewable energy will contribute to PG&E's Disadvantaged Communities (DAC) Green Tariff program, which provides clean power to low to moderate income-qualified residents with a 20% discount on their electric bills. The adjacent 5.02 MWdc Phase 2 project is part of PG&E's Solar Choice program. Solar Choice allows customers who can't install solar on their roof to purchase solar energy to match either 50% or 100% of their energy use. After completion, the array will generate enough electricity to power 1,021 homes per year and offset the equivalent of 5,667 tons of carbon dioxide annually. 'These projects reflect Renewable Properties' ongoing commitment to expanding locally generated renewable energy,' said Aaron Halimi, Founder and CEO of Renewable Properties. 'We're grateful to our partners Optus Bank, Pathward, and BridgePeak Energy Capital for enabling us to help more Californians go solar, regardless of income or having rooftop access.' 'Financing solar + storage projects like these are critical to supporting the electrification of our economy,' said Reginald Webber, Executive Vice President and Chief Credit Officer at Optus Bank. 'Our investment underscores our mission to drive clean energy across the U.S.' 'Pathward is dedicated to empowering Minority Depository Institutions to participate in the energy transition,' said Christopher Soupal, Divisional President and Revenue Lending Officer at Pathward. 'We work strategically with mission-driven lenders like Optus Bank to co-finance opportunities that qualify for Deep Impact Credits, allowing our collective capital to go further in underserved communities.' 'Our partnership with Renewable Properties dates back to 2019, and we're proud to continue supporting their efforts to expand access to inexpensive and sustainable domestic energy. We look forward to growing our collaboration with both Renewable Properties and our Minority Depository Institution partners well into the future,' said Shawn Andrews, CEO of BridgePeak Energy Capital. Renewable Properties expects to begin construction on 100 MWdc of small-scale utility and community solar projects in California, Illinois, Massachusetts, and New York before the end of 2025. As of March 2025, the company's total development pipeline is 1.2 GWdc. About Renewable Properties Founded in 2017, Renewable Properties specializes in developing and investing in small-scale utility, community solar, energy storage, and EV infrastructure projects, throughout the U.S. Led by experienced renewable energy professionals with development and investment experience, Renewable Properties is active in 16 states and has over 1.2 GW of solar and energy storage under development with over 250 MW under construction or in operation. Renewable Properties works closely with communities, developers, landowners, utilities, and financial institutions looking to invest in solar energy systems. For more information about Renewable Properties, visit About Optus Bank Established in 1921 by visionary and courageous African Americans, Optus Bank is on a mission to empower our customers and communities to build lasting wealth and live better financial lives. With a strong commitment to community empowerment, innovation, and sustainability, Optus Bank offers a full suite of financial services that cater to the unique needs of individuals, businesses, and organizations. About Pathward Pathward®, N.A., a national bank, is a subsidiary of Pathward Financial, Inc. (Nasdaq: CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across our Partner Solutions and Commercial Finance business lines. The strategic business lines provide support to individuals and businesses. Learn more at About BridgePeak BridgePeak Energy Capital is the country's leading renewable energy loan service provider to banks and private credit funds. BridgePeak provides comprehensive loan origination, underwriting, closing, servicing and portfolio management solutions designed to maximize value for all stakeholders. As of December 2024, BridgePeak manages a portfolio of more than $2.3 billion in construction and term loans and $350+ million of development loans for its capital partners. For more information about BridgePeak Energy Capital, visit
Yahoo
24-03-2025
- General
- Yahoo
Happy Fourth Anniversary Of Big Boat Stuck To Those Who Celebrate
On March 23, 2021, the world awoke to an unfolding drama that would captivate and unite it as few things in history ever had: Big Boat Stuck. MV Ever Given, a 400 meter long Golden-class container ship owned by Taiwanese shipping company Evergreen Marine Corporation, had run aground in the Suez Canal and blocked a non-insignificant percentage of world trade. What followed was a solid few months of memes, laughs, natsec think pieces, and wall-to-wall big boat coverage here on Jalopnik. Today, we're gonna look back on that time, a better time, when smart alecks from around the world came together to laugh at a big boat stuck. The fifth ship in a northbound convoy, Ever Given set sail early on the morning of the 23rd with no tug escort to transit the Suez Canal — the link between the Red Sea and the Mediterranean Sea — on her way to Rotterdam, NL. At around 07:42 local time, Ever Given was engulfed in a nasty sandstorm near the village of Manshiyet Rugola. With winds exceeding 40 knots (46 miles per hour) and no tug to keep her on track, the massive vessel was immediately blown off course. Her bow ran into the canal's eastern shore at a speed of 13 knots (roughly 15 miles per hour), her stern swung around and wedged into the western shore while still under power, and all of a sudden she was stuck tight. That, as they say, is when hilarity ensued. Read more: All Aboard South Korea's New $100 Billion Baby-Making Trains At the spot where Ever Given ran aground, the Suez Canal is around 200 meters across, so a fully loaded, 400-meter-long container ship wedged hard diagonally across the canal immediately presented some navigation issues. She was completely blocking the canal, as 300 ships at both ends were attempting to transit. To call the situation a nightmare (as well as an all-hands emergency) was an understatement. The Suez Canal Authority closed the canal to shipping on March 25 as salvage and recovery teams descended on the stuck vessel in an attempt to get her free. Over the course of about a week, a crack team of experts, 18 tugs, and the dredger Mashhour worked feverishly to pull Ever Green out of the mud while international shipping slowly ground to a halt on either side of the canal. A huge traffic jam of more than 400 ships slowly formed in the Med, the Red Sea, and the Bitter Lakes as Ever Given was painstakingly salvaged. On March 29 at around 04:30 local time, Ever Given's stern was floated. Her bow was floated soon after, and she was finally free. This wasn't the end of Ever Given's ordeal, however. She was towed to the Great Bitter Lake to be inspected for damage while the canal was open, then immediately impounded and her crew interrogated. Accusations were made, blame was thrown freely around, and on April 13, 2021, she was seized by a court at the urging of the SCA pending payment of more than $900 million American dollars. That price included, among other things, the cost of the salvage effort and around $300 million for SCA for "loss of reputation". The week that Ever Given spent gumming up international shipping revealed some serious worldwide economic issues. The ongoing Covid pandemic had already highlighted problems with supply chain resilience, and the Ever Given debacle really shined a light on both that and the weaknesses of just-in-time manufacturing. Lloyd's List estimated that the cost of the goods delayed by the blockage was a staggering $400 million per hour as bulk freighters, tankers, and container ships waited at anchor for Ever Given to be refloated. The knock-on effects of the blockage were even worse, and prices of everything from oil and food to kids toys and computer chips rose significantly and stayed there for months afterwards. It wasn't all bad, though. There were, of course, the memes. Internet wags immediately got to work plastering pithy messages over images of Ever Given and her various rescuers. One particularly popular one was a photo of a seemingly tiny excavator pushing Ever Given with its boom arm (that one was my favorite, in fact). There were also Google doodles, a marine tracker built specifically to track Ever Given's adventures around the world, and Microsoft Flight Simulator mods. The event even got a shout out in an episode of "What We Do in the Shadows" when it was revealed that Nandor was delayed because he was stuck in a container aboard Ever Given. Since then, while we've had many good boats stuck here and there, nothing has really captured the world's imagination like Ever Given's plight. Despite the very real economic, legal, and political ramifications of the incident, it was also extremely funny, and we all needed a laugh at the time. At the time of this writing, Ever Given is in port at Port Klang, Malaysia and seems to be healthy and happy with a well-founded crew. So, today, let's raise a glass to Ever Given and her crew and wish them fair winds and following seas. Oh, and captain, watch out for those sandstorms. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
