Latest news with #LohSawFoong
New Straits Times
29-05-2025
- Business
- New Straits Times
PeterLabs shares jump 43pct to fresh high amid director misconduct probe
KUALA LUMPUR: PeterLabs Holdings Bhd surged 11.69 per cent to a fresh all-time high of 43 sen, extending a rally that began last month amid a widening probe into alleged misconduct involving its directors. The counter opened lower at 37 sen, down 3.90 per cent from Wednesday's close of 38.5 sen, before rebounding sharply to a morning high of 55 sen, up nearly 43 per cent. As at press time, 4.42 million shares had changed hands. Yesterday, PeterLabs announced that the company and its subsidiary Thye On Tong Trading Sdn Bhd had initiated legal proceedings against its suspended executive director Datuk Loh Saw Foong and another director Datin Lin Ching Yein. This follows earlier disclosures made on May 13 and May 26, 2025, regarding Loh's suspension. The group is seeking various declaratory reliefs and damages as part of the legal action. PeterLabs' share price rally began on April 8, when the stock was trading at 18.5 sen. At its current price, the stock has gained 132.43 per cent in just over seven weeks. On April 21, the stock jumped to 29.5 sen, with trading volume spiking to 22.87 million shares, the highest in at least two years. This followed a raid by the Malaysian Anti-Corruption Commission (MACC) on PeterLabs' offices as part of an investigation into alleged misconduct involving Loh and Lin. PeterLabs logged its previous all-time high of 37 sen per share on April 5, 2019. The group, which manufactures and distributes animal health and nutrition products, has yet to detail the potential operational impact of the legal developments. For the fourth quarter ended Dec 31, 2024, PeterLabs' net profit fell 9.5 per cent to RM667,000 from RM737,000 a year earlier, on higher administrative and distribution costs. The group said the decline was largely due to lower operating profit, which dropped 59.7 per cent year-on-year to RM631,000, despite relatively stable revenue. Revenue for the quarter slipped 2.0 per cent to RM45.37 million from RM46.29 million previously, mainly due to weaker sales from the trading segment, which recorded a pre-tax loss of RM162,000. For the full financial year, PeterLabs posted a net profit of RM2.84 million, down 17.5 per cent from RM3.45 million in 2023, while revenue dropped 5.5 per cent to RM176.03 million from RM186.21 million. The group has changed its financial year end from Dec 31 to June 30, with the next reporting period covering 18 months from Jan 1, 2024, to June 30, 2025.
The Star
27-05-2025
- Business
- The Star
Trading ideas: Public Bank, U Mobile, Kerjaya, Samaiden, Titijaya, PeterLabs, Shin Yang, NexG, Globaltec, Maybank, AMMB, PetGas, Hume Cement
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Public Bank Bhd has failed in its appeal to set aside a RM560mn lawsuit filed by the National Feedlot Corporation and four others, including its chairman Datuk Seri Mohamad Salleh Ismail, after the country's apex court unanimously dismissed the bank's appeal. U Mobile Sdn Bhd has signed a RM2.4bn, 10-year deal with Telekom Malaysia Bhd to speed up its nationwide 5G rollout. Kerjaya Prospek Group Bhd , via wholly-owned subsidiary, Kerjaya Prospek Ventures Sdn Bhd, is acquiring 4.4mn shares and 935,900 new redeemable preference shares in Aspen Vision Land Sdn Bhd for RM98mn. Samaiden Group Bhd has bagged a RM100.8mn contract to undertake the engineering, procurement, construction and commissioning works for a large-scale solar photovoltaic power plant in Pasir Mas, Kelantan. Titijaya Land Bhd is proposing to acquire two property assets in Kota Kinabalu, Sabah, for RM105mn. Peterlabs Holdings Bhd has extended the suspension of its director Datuk Loh Saw Foong from his executive duties, pending the outcome of both its internal investigation and an ongoing probe by the Malaysian Anti-Corruption Commission. Shin Yang Group Bhd 's wholly-owned subsidiary Shin Yang Shipyard Sdn Bhd had signed a letter of intent with the Home Affairs Ministry for the proposed construction of the two offshore patrol vessels for Malaysian Maritime Enforcement Agency. NexG Bhd, formerly known as Datasonic Group Bhd , is developing a RM250mn secure identification document production facility as part of its global expansion strategy. Globaltec Formation Bhd's Australian-listed subsidiary, NuEnergy Gas Ltd, has commenced drilling the first of four wells under its Early Gas Sales Initiative in South Sumatra, Indonesia. Malayan Bank Bhd net profit edged up 4% YoY to RM2.6bn in 1QFY25, as income from interests and insurance offset a decline in non-interest income. AMMB Holdings Bhd closed FY25 with a 7.1% net profit growth YoY to RM2bn on the back of a higher net income of RM4.9bn from RM4.7bn in FY24. Petronas Gas Bhd 's net profit for 1QFY25 rose to RM468.8mn from RM456.7mn a year earlier although revenue declined to RM1.59bn from RM1.62bn previously. Hume Cement Industries Bhd posted a net profit of RM40.6mn for 3QFY25, down 33.4% from RM61.1mn a year ago, mainly due to lower cement sales volume.
The Star
20-05-2025
- Business
- The Star
Trading ideas: Maybank, KAB, Ibraco, PeterLabs, MCE, Euro, MFM, Johor Plantations, Taliworks, Keyfield, George Kent
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Malayan Banking Bhd has signed a letter of intent with the Ministry of Economy to support the Johor-Singapore Special Economic Zone and facilitate up to RM2.4bn in client investments over the next three to 10 years. Kinergy Advancement Bhd 's unincorporated joint venture with Sinohydro Corporation (M) Sdn Bhd has secured a RM646.3mn engineering, procurement, construction and commissioning contract to build a 120-megawatt power plant facility in Labuan. Ibraco Bhd targets to launch new residential and industrial development projects in Sarawak worth RM500mn this year. Peterlabs Holdings Bhd said the Malaysian Anti-Corruption Commission conducted a raid at its principal offices and its subsidiary Thye On Tong Trading Sdn Bhd on Monday, after the company lodged a report to MACC on May 9 over alleged misconduct involving its executive director Datuk Loh Saw Foong. MCE Holdings Bhd has formalised a 51:49 JV with Nanjing Chuhang Technology Co Ltd, a Chinese firm producing millimetre wave radars. Chengco PLT has resigned as Euro Holdings Bhd auditor with immediate effect due to the suspension of the audit firm's registration by the Audit Oversight Board of the Securities Commission Malaysia. Malayan Flour Mills Bhd has allocated RM215mn in capital expenditure for the FY25, of which RM160mn will go to its poultry integration segment and another RM100mn earmarked for expanding and upgrading farming infrastructure. Johor Plantations Group Bhd posted a higher net profit of RM75.9mn in 1QFY25, compared to RM50mn in the same period last year. Taliworks Corp Bhd reported a 30% YoY decline in its net profit for 1QFY25 at RM10.5mn versus RM15mn in the same quarter last year. For 1QFY25, Keyfield International Bhd posted a lower net profit of RM20.7mn compared with RM30.3mn in the same period last year, while revenue declined by 18.5% to RM86.8mn from RM106.4mn, mainly due to reduced vessel revenue. George Kent (Malaysia) Bhd returned to the black with a net profit of RM19mn in 4QFY25 against a net loss of RM28.6mn a year ago, on the back of higher revenue.
New Straits Times
19-05-2025
- Business
- New Straits Times
MACC raids PeterLabs offices amid misconduct probe involving executive director
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) today raided the offices of PeterLabs Holdings Bhd and its subsidiary, Thye On Tong Trading Sdn Bhd (TOT), over allegations of misconduct involving an executive director. In a filing with Bursa Malaysia, the animal health and nutrition products specialist said MACC officers seized documents and files believed to be relevant to the ongoing investigation involving PeterLabs executive director Datuk Loh Saw Foong. Loh also serves as the general manager of TOT, a fast-moving consumer goods distributor. On May 9, PeterLabs lodged a formal report with the MACC against Loh over allegations of misconduct, conflict of interest, and breach of fiduciary duties. The company said that its board of directors will make further announcements on any material developments, in line with Bursa Malaysia Securities Bhd's Listing Requirements and applicable legal obligations. – BERNAMA
The Star
19-05-2025
- Business
- The Star
MACC raids PeterLabs offices amid misconduct probe involving ED
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) today raided the offices of Peterlabs Holdings Bhd and its subsidiary, Thye On Tong Trading Sdn Bhd (TOT), over allegations of misconduct involving an executive director. In a filing with Bursa Malaysia, the animal health and nutrition products specialist said MACC officers seized documents and files believed to be relevant to the ongoing investigation involving PeterLabs executive director Datuk Loh Saw Foong. Loh also serves as the general manager of TOT, a fast-moving consumer goods distributor. On May 9, PeterLabs lodged a formal report with the MACC against Loh over allegations of misconduct, conflict of interest, and breach of fiduciary duties. The company stated that its board of directors will make further announcements on any material developments, in line with Bursa Malaysia Securities Bhd's Listing Requirements and applicable legal obligations. - Bernama
