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New Straits Times
28-05-2025
- Business
- New Straits Times
PPB posts higher net profit of RM375.83mil in 1Q25
KUALA LUMPUR: PPB Group Bhd's net profit rose to RM375.83 million in the first quarter ended March 31, 2025 (1Q 2025) from RM337.17 million in 1Q 2024, while its revenue also increased to RM1.35 billion in 1Q 2025 from RM1.29 billion previously. In a filing with Bursa Malaysia today, the group attributed its performance to higher contributions from Wilmar International Ltd, which increased to RM283 million in 1Q 2025 from RM266 million previously. PPB owns an 18.8 per cent equity interest in Wilmar, one of Asia's largest integrated agribusiness groups. "At the same time, core business segments recorded a 25 per cent increase in profit to RM127 million in 1Q 2025 (1Q 2024: RM102 million)," it said. On prospects, it said the grain and agribusiness segment will continue to closely monitor global grain prices and adopt prudent sourcing strategies, given the commodity market's vulnerability to adverse weather conditions in key grain-producing regions and evolving government policies. "These challenges are further compounded by heightened global uncertainties and economic pressures arising from the escalation of United States tariff measures. "Nonetheless, the group remains committed to upholding high product quality by leveraging its technical expertise and delivering reliable customer service. We are confident in our ability to remain resilient and deliver a satisfactory performance in 2025," it added. Meanwhile, PPB said the consumer products segment will continue to expand its product range and strengthen its market presence to enhance distribution efficiency amid rising operating costs. "Supported by resilient domestic household spending, a well-established distribution network and robust logistics infrastructure, the segment is well-positioned to respond effectively to evolving market demand and is expected to deliver a satisfactory performance in 2025," it said. — BERNAMA TAGS: PPB, result, 1Q 2025, Wilmar
The Sun
27-05-2025
- Automotive
- The Sun
Sime Darby nine-month net profit rises to RM1.29 billion
PETALING JAYA: Sime Darby Bhd (Sime) reported net profit from continuing operations of RM1.29 billion for the nine-month period ended March 31, 2025 (9M25), a growth of 9.9% from the previous corresponding period. The improved performance was mainly attributable to the higher contribution from the UMW division and a higher one-off gain on disposal of Malaysia Vision Valley land, despite lower profits from the industrial and motors divisions. The group's revenue for the nine months increased by 8.2% to RM52.3 billion, compared with RM48.3 billion in the previous financial year. For the third quarter ended March 31, 2025 (Q3'25), net profit saw a decrease to RM193 million, while revenue was down by 13.4% at RM16.3 billion. During the quarter under review, the industrial division recorded lower profit before interest and tax (PBIT) of RM221 million, mainly due to reduced profits from the division's operations in Australasia. Profits In Australasia were impacted by a currency-related parts price adjustment, unfavourable weather conditions and a weaker Australian dollar against the ringgit. The motors division reported a reduced PBIT of RM114 million in Q3'25, attributed to lower vehicle sales in most markets, as well as increased competition. For the UMW division, PBIT for the quarter under review was largely contributed by the division's automotive business, particularly higher Perodua sales. However, the division saw a decline in PBIT to RM194 million as a result of competitive market conditions. Sime Group CEO Datuk Jeffri Salim Davidson said, 'We continue to face external headwinds, particularly in the motors division with ongoing economic uncertainty and the rise of Chinese automotive brands increasingly dominating the market. The consumer segment remains challenging amid the continuing price war and industry overproduction in China.' For the UMW division, he added, Toyota and Perodua continue to perform well in Malaysia. 'Despite the impact of the currency-related parts price adjustment, the long-term prospects for our industrial division remain positive on the back of robust mining demand,' he said, adding that, across the group, they remain focused on cost discipline, efficient inventory management and operational agility to navigate the current environment. 'As a result of our efforts, the reduction in inventories has resulted in a RM1.7 billion improvement to our operating cash flow for the nine months ended 31 March 2025. While the current landscape is undoubtedly tough, our operating cash flow is positive and our balance sheet is strong, underpinned by sustained revenue. These are fundamentals that will see us through during these choppy waters,' said Jeffri.
New Straits Times
27-05-2025
- Automotive
- New Straits Times
Sime's nine-month net profit up 9.9pct to RM1.29bil
KUALA LUMPUR: Sime Darby Bhd reported a net profit from continuing operations of RM1.29 billion for the nine months ended March 31 2025, up 9.9 per cent from RM1.17 billion in the previous corresponding period. The was mainly attributable to the higher contribution from the UMW division and a higher one-off gain on disposal of Malaysia Vision Valley land, despite lower profits from the industrial and motors divisions. The group's revenue for the nine months increased 8.2 per cent to RM52.3 billion from RM48.3 billion in the previous financial year. For the third quarter (Q3), Sime's net profit fell 43.2 per cent to RM193 million from RM340 million a year ago, due to lower earnings from all its core divisions. Its revenue fell to RM16.31 billion from RM18.84 billion previously, the group's filing to Bursa Malaysia showed. As a result, the group registered lower earnings per share of 2.80 sen compared to 5.00 sen in Q3. The group's industrial division profits fell 38.4 per cent to RM221 million during the quarter, mainly due to lower profits from Australasia. Profit from Australasia was impacted by a currency-related parts price adjustment, unfavourable weather conditions and a weaker Australian dollar against the ringgit. Its motors division profits dropped 36.7 per cent to RM114 million mainly due to lower revenue and core profit from several markets, particularly Malaysia, Hong Kong and New Zealand. The group said these markets had been impacted by weaker demand and fierce competition. UMW Holdings Bhd's profit fell 26 per cent to RM194 million mainly due to losses at the lubricants business. Sime group chief executive officer Datuk Jeffri Salim Davidson said the group continued to face external headwinds, particularly in the motors division with ongoing economic uncertainty and the rise of Chinese automotive brands increasingly dominating the market. He added that the consumer segment remains challenging amid the continuing price war and industry overproduction in China. "For the UMW division, Toyota and Perodua continue to perform well in Malaysia. "Despite the impact of the currency-related parts price adjustment, the long-term prospects for our industrial division remains positive on the back of robust mining demand. "Across the group, we remain focused on cost discipline, efficient inventory management and operational agility to navigate the current environment," he said in a separate statement. Jeffri also said as a result of the group's efforts, the reduction in inventories has resulted in a RM1.7 billion improvement to its operating cash flow for the nine months ended March 31, 2025. "While the current landscape is undoubtedly tough, our operating cash flow is positive and our balance sheet is strong, underpinned by sustained revenue. "These are fundamentals that will see us through during these choppy waters," he noted. On its prospects, the group said there is significant uncertainty in the global economic outlook after the US announced tariffs to be imposed on most countries. It added that volatility has also increased in the financial markets, affecting foreign currency exchange rates and interest rates. Amid the uncertainty, business conditions are expected to be challenging for the group's industrial and motors businesses. However, the medium to long term demand for the group's products and after-sales service from the mining industry in Australia is expected to remain robust. Sime expects the core financial performance for the financial year ending June 30, 2025 to be lower than that of the previous financial year.
BusinessToday
27-05-2025
- Automotive
- BusinessToday
Sime Darby's 9M Profit Plunges 60% To RM1.29 Billion
Sime Darby Berhad reported a net profit from continuing operations of RM1.29 billion for the Group's nine-month period ended 31 March 2025 (9M FY2025), reflecting a growth of 9.9 per cent from the previous corresponding period. However, on a year-on-year comparison, the group saw a decline of 60% from RM3.21 billion. Revenue, on the other hand, was higher at RM52 billion compared to RM48 billion in 3QFY24. For the third quarter under review, Sime saw its net profit plunge from RM340 million to RM193 million, down 43% from the preceding year's quarter. Revenue was recorded at RM16 billion, which was lower by RM2 billion versus the year before. The performance was mainly attributable to the higher contribution from the UMW division and a higher one-off gain on the disposal of Malaysia Vision Valley (MVV) land, despite lower profits from the Industrial and Motors divisions. The Group's revenue for the nine months increased by 8.2 per cent to RM52.3 billion, compared with RM48.3 billion in the previous financial year. During the quarter under review, the Industrial division recorded a lower PBIT of RM221 million, mainly due to reduced profits from the division's operations in Australasia. In Australasia, profits were impacted by a currency-related parts price adjustment, unfavourable weather conditions, and a weaker Australian dollar against the Malaysian Ringgit. The Motors division reported a reduced PBIT of RM114 million in Q3 FY2025. This is attributed to the lower vehicle sales in most markets, as well as increased competition For the UMW division, PBIT for the quarter under review was largely contributed by the division's automotive business, particularly higher Perodua sales. However, the division saw a decline in PBIT to RM194 million as a result of competitive market conditions. Sime's Group Chief Executive Officer Dato' Jeffri Salim Davidson said, 'We continue to face external headwinds, particularly in the Motors division with ongoing economic uncertainty and the rise of Chinese automotive brands increasingly dominating the market. The consumer segment remains challenging amid the continuing price war and industry overproduction in China. For the UMW division, Toyota and Perodua continue to perform well in Malaysia. Despite the impact of the currency-related parts price adjustment, the long-term prospects for our Industrial division remains positive on the back of robust mining demand. Related
New Straits Times
20-05-2025
- Business
- New Straits Times
Penang hits RM1.29bil milestone in business events tourism in 2024
GEORGE TOWN: Penang has marked a significant milestone in the business events tourism sector, recording an Estimated Economic Impact (EEI) of RM1.29 billion in 2024 from hosting over 2,000 events attended by more than 300,000 delegates. State Tourism and Creative Economy Committee chairman Wong Hon Wai attributed this achievement to the sustained efforts of the state government through the Penang Convention and Exhibition Bureau (PCEB), which has implemented a series of strategic initiatives to attract high-impact events to the state. "Through active participation in international trade exhibitions such as IMEX Frankfurt, The Meeting Show London, and IBTM Barcelona, as well as the organisation of the Penang Roadshow to India, we have ensured Penang remains relevant and competitive in the global business events industry. "We are also in the process of bidding for a further 27 international events through to 2030," he said during the state legislative assembly sitting today. Wong (DAP – Paya Terubong) was responding to a question from Lee Boon Heng (PKR – Kebun Bunga) regarding the state government's efforts and accomplishments in attracting high-value, high-impact meetings, incentives, conferences, and exhibitions (MICE) to Penang. He said that these efforts had been reinforced through the hosting of prestigious events such as the Penang International Travel Exchange (PITE) and BE @ Penang. "These events not only expand our network with international buyers but also strengthen the capabilities of local industry players — including professional conference organisers, travel agencies, and hotel operators," he said. Among the international events successfully secured to take place in Penang are the World Research Travel Conference 2024, the International Advertising Association World Congress 2024, and the International Conference of Butterfly Exhibitors and Suppliers 2024. Wong added that, according to PCEB data, there had been a significant increase in business event activity since the country entered the endemic phase. "In 2023, the EEI reached RM1.03 billion from 604 events involving 162,964 delegates, compared to RM375.91 million in 2022," he said.
