Latest news with #MalaysianFinancialReportingStandards
The Star
7 days ago
- Business
- The Star
Reach Ten declares maiden dividend of 1c per share
Reach Ten managing director Leo Chin KUALA LUMPUR: Reach Ten Holdings Bhd - which was listed on the Main Market of Bursa Malaysia on May 2, 2025 - has announced its first interim dividend of one sen per share, along with its financial results for the first quarter ended March 31, 2025. According to to statement by the group, the post-listing dividend is in line with its dividend policy to distribute up to 30% of its net profit. During the first quarter, the Sarawak-based telecommunications service provider said it recorded a net profit of RM7.12mil on the back of revenue of RM23.05mil, which translates to an earnings per share of 0.89 sen. The reported results cover only two months - February and March 2025 - following the completion of the merger of its subsidiaries on Feb 5, 2025, which is in accordance with Malaysian Financial Reporting Standards. "As such, the revenue and profit solely represent the post-acquisition performance of the consolidated entities," it said in a statement. On a full-quarter basis, revenue and net profit would have been RM28.4mil and RM8.2 mil, respectively, said the group. There are no comparative figures for the corresponding preceding quarter's results as this is only the second interim financial report being announced by the company in compliance with the listing requirements. According to the group, revenue for the quarter was mainly driven by its satellite-based communication networks and services segment, which contributed 63.2% of total revenue. Fibre optic communication networks and services accounted for 21.4%, while telecommunications infrastructure and managed services contributed 15.4%. "We remain confident in the group's growth trajectory, driven by rising demand for digital connectivity, supportive government policies, and ongoing infrastructure expansion. Managing director Leo Chin said the group remains optimistic about its business outlook, supported by positive structural trends in Malaysia's telecommunications sector. "Our strategic focus on underserved markets, particularly in Sarawak, positions us well to capture emerging opportunities and deliver long-term value to our shareholders," he said.
New Straits Times
01-05-2025
- Business
- New Straits Times
AmanahRaya REIT embarks on transformation for long-term growth
KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) is undergoing a comprehensive strategic transformation process to strengthen the foundation for the company's long-term and sustainable growth. In a statement, the company said this reflects its continuous emphasis on strong financial governance, precision in reporting, and alignment with regulatory best practices. It added that over the past year, AmanahRaya-Kenedix REIT Manager Sdn Bhd (AKRM), the manager of ARREIT, has embarked on a strategic transformation journey aimed at building a stronger foundation for sustainable growth. This transformation is guided by five key initiatives focused on enhancing governance, sustainable business growth, people, systems and financial management. ARREIT said while these efforts are already beginning to reshape the organisation positively, the interim transition phase has had an impact on its financial performance for 2024 (FY24) — a necessary step in delivering long-term value to stakeholders. AKRM managing director Mohd Iskandar Dzulkarnain said the company remains focused on enhancing asset performance and driving operational productivity across our portfolio. "Our commitment is to continuously improve value creation for our unitholders through proactive asset management, sustainable initiatives, and operational excellence," he noted. He added that ARREIT remains financially resilient, supported by a diversified portfolio, proactive tenant engagement, and ongoing asset enhancement initiatives aimed at ensuring sustainable returns for its stakeholders. In pursuance of paragraph 9.19(35) of the Main Market Listing Requirements of Bursa Malaysia, the board of directors of AKRM has issued this clarification following a variance of more than 10 per cent between the unaudited and audited profit after tax figures. The deviation arose as part of the audit finalisation process. For the financial year ended Dec 31, 2024, ARREIT reported a profit after tax of RM1.80 million in the audited financial statements, compared to RM4.98 million in the unaudited results announced on Feb 28, 2025. The variance of RM3.18 million arose from technical adjustments identified and applied during the audit finalisation, in keeping with Malaysian Financial Reporting Standards.
