Latest news with #MEX
![[UPDATED] RM416mil false claims: Ex-Maju Holdings executive remanded](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FMEXX_1746419424.jpg&w=3840&q=100)
![[UPDATED] RM416mil false claims: Ex-Maju Holdings executive remanded](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
05-05-2025
- Business
- New Straits Times
[UPDATED] RM416mil false claims: Ex-Maju Holdings executive remanded
PUTRAJAYA: The former head of finance at Maju Holdings has been remanded over the alleged submission of false claims amounting to RM416 million, linked to funds from a RM1.3 billion sukuk issuance for the 18km extension of the Maju Expressway (MEX II). Assistant Registrar Siti Roslizawati Mohd Zanin granted a five-day detention for the suspect, after the Malaysian Anti-Corruption Commission (MACC) had applied for a seven-day remand. Another man, the owner of the subcontractor company involved in the MEX II project, who was previously arrested and released, has been rearrested by the MACC over a separate allegation of submitting false claims. He will be in the commission's custody for two days. The sukuk, issued by MEX II Sdn Bhd, was owned by Maju Holdings Sdn Bhd. Maju Holdings also owns Maju Expressway Sdn Bhd, the operator of the 26km highway commonly known as MEX, connecting Putrajaya and Cyberjaya with Kuala Lumpur. The duo are being investigated under Section 18 of the MACC Act 2009 for intending to deceive by making false claims. The 18km MEX II expressway was initially scheduled to be completed in October 2019. However, in December, the project missed its original completion target due to cash flow issues and a stop-work order on key structures. Between 2020 and 2021, the delays worsened, sukuk payments were deferred, and the project's bond ratings were downgraded. Last week, four individuals, including a "Datuk Seri", were remanded in connection with the alleged submission of false claims amounting to RM360 million between 2016 to 2017. On May 3, a former chief executive officer was also remanded for three days. Earlier this month, Works Minister Datuk Seri Alexander Nanta Linggi said the government was actively engaging with stakeholders to resolve the prolonged delays in the MEX II project.
Yahoo
04-03-2025
- Sport
- Yahoo
CONCACAF Champions Cup Round of 16: How to watch, full game schedule and more
The Round of 16 of the CONCACAF Champions Cup begins today and will run through March 13, with games played all over the Americas and the Caribbean. Lionel Messi and Inter Miami defeated Sporting Kansas City last week to make it through, they will face Cavalier FC this round. Teams in the Round of 16 will all play one game at home and another away, and the club from each pairing to earn the most points will advance to the Quarterfinals which will be held during the first half of April. To see when Miami and every other team is scheduled to compete, we've got the full schedule for the Round of 16 below. Here's how you can tune into all the action during the CONCACAF Round of 16 which runs for the next 10 days. Dates: March 4 -13 TV channel: FS2 Streaming: Fubo, DirecTV, Hulu, Sling TV, YouTube TV, Tubi, ViX, Fox Sports App Select CONCACAF Round of 16 games will be broadcast live on FS2, with replays airing on FS1. You can tune into FS1 and FS2 on streaming platforms like Fubo, Hulu + Live TV and DirecTV, and select games are also available to livestream for free on Tubi and in Spanish on Vix. All times Eastern. First Leg Matches Tuesday, March 4 FC Cincinnati vs Tigres UANL @ TQL Stadium, Cincinnati, OH, 6:30 p.m. (FS2) Pumas UNAM vs LD Alajuelense @ Estadio Olímpico Universitario, Mexico City, 8:30 p.m. (FS2) Los Angeles FC vs Columbus Crew -@ BMO Stadium, Los Angeles, CA, 10:30 p.m. (FS2) Wednesday, March 5 CD Guadalajara vs Club América @ Estadio Akron, Guadalajara, MEX, 8:30 p.m. (Tubi) CS Herediano vs Los Angeles Galaxy @ Estadio Fello Meza, Cartago, CRC, 8:30 p.m. (FS2) Seattle Sounders FC vs Cruz Azul @ Lumen Field, Seattle, WA, 10:30 p.m. (FS2) Vancouver Whitecaps FC vs CF Monterrey @ BC Place, Vancouver, BC, CAN, 10:30 p.m. (Tubi) Thursday, March 6 Inter Miami CF vs Cavalier FC @ Chase Stadium, Fort Lauderdale, FL, 8 p.m. (FS2) Second Leg Matches Tuesday, March 11 Cruz Azul vs Seattle Sounders FC @ Estadio Olímpico Universitario, México City, 8:30 p.m. (Tubi) Columbus Crew vs Los Angeles FC @ Field, Columbus, OH, 9:30 p.m. (FS2) Tigres UANL vs FC Cincinnati @ Estadio Universitario, Monterrey, MEX, 11:30 p.m. (FS2) Wednesday, March 12 CF Monterrey vs Vancouver Whitecaps FC @ Estadio Corona, Torreón, MEX 8:30 p.m. (FS2) Los Angeles Galaxy vs CS Herediano @ Dignity Health Sports Park, Carson, CA, 10:30 p.m. (FS2) Club América vs CD Guadalajara @ Estadio Ciudad de los Deportes, México City, MEX, 10: 30 p.m. (Tubi) Thursday, March 13 Cavalier FC vs Inter Miami CF @ National Stadium, Kingston, JAM, 8 p.m. (FS2) LD Alajuelense vs Pumas UNAM @ Estadio Alejandro Morera Soto, Alajuela, CRC 10 p.m. (FS2)
Yahoo
08-02-2025
- Business
- Yahoo
Axtel SAB de CV (MEX:AXTELCPO) Q4 2024 Earnings Call Highlights: Record Revenues and Strategic ...
Release Date: February 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Axtel SAB de CV (MEX:AXTELCPO) achieved the highest quarterly EBITDA of the year and the best quarterly revenues in the last five years. The company generated over $40 million in free cash flow in 2024, allowing for debt prepayment and reduced interest expenses. Enterprise segment revenues grew by 8%, outpacing the market's 6% growth, with cybersecurity revenues increasing by 57%. Axtel expanded its business presence into eight new states and renewed 99% of expiring government contracts. The company launched innovative AI solutions, enhancing digital transformation and operational efficiency for clients. There was a slight decline in wholesale segment revenues, despite overall growth in other areas. Legacy voice revenues in the enterprise segment declined by 11% in the fourth quarter. The government segment's revenues are subject to volatility, particularly around election cycles. The company faces pricing pressure in legacy IP transit services, affecting wholesale segment revenues. High interest rates continue to impact financial strategy, with a focus on debt reduction over dividend distribution. Warning! GuruFocus has detected 2 Warning Signs with MEX:AXTELCPO. Q: Could you quantify the provisions during the quarter that were released, and what is the plan for the shares held in treasury? A: Provisions released in the fourth quarter were approximately 200 million pesos. Regarding the shares held in treasury, there is currently no intention to return them to the market. Last year, all shares in treasury were canceled at the extraordinary shareholders meeting, and it is likely that this will be done again this year, although it has not been decided yet. - Adrian de Los Santos, CFO Q: What are the growth drivers for your revenue guidance, which is expected to grow 11% year over year? A: The main growth drivers include the maturity of our commercial strategy, focusing on cross-sell and upsell opportunities in the enterprise segment, double-digit growth in the government segment through multiannual projects, and low double-digit growth in the wholesale segment driven by dark fiber contracts and increased connectivity to the USA. - Armando de La Pena, CEO Q: How are you addressing the volatility in government contracts, and what is the strategy for the company moving forward? A: We have been successful in renewing 99% of our federal government contracts, which gives us confidence in the future. Our strategy involves focusing on enterprise, government, and wholesale markets, developing specialized solutions for customers, and increasing our share with current customers. We aim to maintain a balanced P&L and balance sheet while achieving stable growth. - Armando de La Pena, CEO Q: With the current leverage target achieved, should we expect dividends, or will you prioritize other financial strategies? A: Given the high interest rate environment, we see better use of cash flow in reducing debt and eliminating interest expenses rather than distributing dividends. However, dividends will eventually be part of how we reward shareholders once interest rates stabilize. - Adrian de Los Santos, CFO Q: Can you provide more details on potential joint ventures with big companies in certain divisions? A: We are exploring opportunities that require investments, such as cross-border activities with the US and cybersecurity solutions. These could be accelerated through strategic partnerships, allowing us to capitalize on market opportunities more effectively. - Adrian de Los Santos, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
