Latest news with #RM1.3bil
The Star
22-05-2025
- Business
- The Star
YTL Corp quarterly revenue increases
PETALING JAYA: YTL Corp Bhd expects the performance of its business segment to remain resilient going forward due to the essential nature of its operations. For the third quarter ended March 31, 2025 (3Q25), the group posted a 15.5% year-on-year (y-o-y) decline in net profit to RM419.4mil, translating to an earnings per share of 3.81 sen. This is despite a higher revenue which grew by 1.5% y-o-y to RM7.3bil. For the nine-month period ended March 31, 2025 (9M25), YTL Corp's net profit was down by 17% y-o-y to RM1.3bil, while revenue was up by 4% y-o-y to RM23.2bil. Earnings before interest, tax, depreciation and amortisation for 9M25 remained steady at RM6.9bil, compared with RM7bil in 9M24. YTL Group executive chairman Tan Sri Francis Yeoh Sock Ping said the group delivered solid results for the period under review, with all divisions continuing to turn in healthy performances. 'Results from our utilities segment moderated following an exceptional performance driven by the power generation sub-segment in Singapore last year, and we continue to see good turnaround in the UK water and sewerage sub-segment,' he said in a statement yesterday. Yeoh added that the cement division recorded a strong set of results, whilst higher revenue in the construction segment due to an increase in work volumes from third-party construction projects was impacted by elevated construction costs. 'Meanwhile, the hotel division continued to achieve higher occupancy rates and stronger average room rates across key properties,' he said. YTL Power, meanwhile, recorded a revenue of RM16.25bil for 9M25 compared to RM15.98bil for the corresponding 9M24. Profit before tax decreased to RM2.24bil for the current period under review over RM2.88bil for the same period last year, whilst profit after tax stood at RM1.79bil this year compared to RM2.39bil for the same period last year. YTL Power executive chairman Yeoh said the group's performance remained strong for the financial year to date, prompting a higher interim dividend of four sen per share. 'Performance of the power generation segment in Singapore has continued to moderate on the back of lower pool and retail prices, following exceptional results seen last year. 'In our water and sewerage segment, higher revenue resulted from the increase in price allowed by the UK regulator, as well as revenue contribution from our operations in Malaysia, with profit improving primarily due to the said price increase in the United Kingdom, coupled with the decrease in inflationary pressures on index-linked bonds,' he said. Yeoh added that the telecommunication segment recorded better performance in the current period due to higher project revenue, whilst in the investment holding segment, higher revenue was contributed mainly by the consultancy services sub-segment, although profit was impacted by unrealised foreign-exchange losses. YTL Power declared a higher interim dividend of four sen per ordinary share in respect of the financial year ending June 30, 2025, compared to three sen per ordinary share declared in the corresponding quarter last year. The book closure and payment dates for which are June 25, 2025 and July 10, 2025, respectively. Malayan Cement's revenue remained stable at RM3.42bil in 9M25 compared to RM3.41bil for the corresponding 9M24. Profit before tax increased 43% to RM718.3mil for the nine months under review compared to RM503.4mil for the same period last year, whilst profit after tax rose 59% to RM507.5mil in the current period under review over RM318.7mil for the same period last year. Malayan Cement executive chairman Yeoh said the better performance was due to improved operational efficiencies, lower production costs, reduced borrowing costs and the absence of recognition of share option costs in the current quarter, coupled with a one-off gain from a compulsory land acquisition recorded in the last quarter. YTL Hospitality-REIT recorded a revenue of RM421.3mil for 9M25, approximating that of the corresponding 9M24, whilst net property income grew 2% to RM228.1mil compared to RM223.7mil for the same period last year.
The Star
22-05-2025
- Business
- The Star
YTL Corp expects its business to stay resilient
PETALING JAYA: YTL Corp Bhd expects the performance of its business segment to remain resilient going forward due to the essential nature of its operations. For the third quarter ended March 31, 2025 (3Q25), the group posted a 15.5% year-on-year (y-o-y) decline in net profit to RM419.4mil, translating to an earnings per share of 3.81 sen. This is despite a higher revenue which grew by 1.5% y-o-y to RM7.3bil. For the nine-month period ended March 31, 2025 (9MFY25), YTL Corp's net profit was down by 17% y-o-y to RM1.3bil, while revenue was up by 4% y-o-y to RM23.2bil. Earnings before interest, tax, depreciation and amortisation for 9MFY25 remained steady at RM6.9bil, compared with RM7bil for 9MFY24. YTL Group executive chairman Tan Sri Francis Yeoh Sock Ping said the group delivered solid results for the period under review, with all divisions continuing to turn in healthy performances. 'Results from our utilities segment moderated following an exceptional performance driven by the power generation sub-segment in Singapore last year, and we continue to see good turnaround in the UK water and sewerage sub-segment,' he said in a statement yesterday. Yeoh added that the cement division recorded a strong set of results, whilst higher revenue in the construction segment due to an increase in work volumes from third-party construction projects was impacted by elevated construction costs. 'Meanwhile, the hotels division continued to achieve higher occupancy rates and stronger average room rates across key properties,' he said. YTL Power recorded revenue of RM16.25bil for 9MFY25 compared to RM15.98bil for the corresponding 9MFY24. Profit before tax decreased to RM2.24bil for the current period under review over RM2.88bil for the same period last year, whilst profit after tax stood at RM1.79bil this year compared to RM2.39bil for the same period last year. YTL Power executive chairman Yeoh said the group's performance remained strong for the financial year to date, prompting a higher interim dividend of 4 sen per share. 'Performance of the power generation segment in Singapore has continued to moderate on the back of lower pool and retail prices, following exceptional results seen last year. In our water and sewerage segment, higher revenue resulted from the increase in price allowed by the UK regulator, as well as revenue contribution from our operations in Malaysia, with profit improving primarily due to the said price increase in the UK, coupled with the decrease in inflationary pressures on index-linked bonds,' he said. Yeoh added that the telecommunication segment recorded better performance in the current period due to higher project revenue, whilst in the investment holding segment, higher revenue was contributed mainly by the consultancy services sub-segment, although profit was impacted by unrealised foreign exchange losses. YTL Power declared a higher interim dividend of 4 sen per ordinary share in respect of the financial year ending June 30, 2025, compared to 3 sen per ordinary share declared in the corresponding quarter last year. The book closure and payment dates for which are June 25, 2025 and July 10, 2025, respectively. Meanwhile, Malayan Cement's revenue remained stable at RM3.42bil for 9MFY25 compared to RM3.41bil for the corresponding 9MFY24. Profit before tax increased 43% to RM718.3mil for the nine months under review compared to RM503.4mil for the same period last year, whilst profit after tax rose 59% to RM507.5mil in the current period under review over RM318.7mil for the same period last year. Malayan Cement executive chairman Yeoh said the better performance was due to improved operational efficiencies, lower production costs, reduced borrowing costs and the absence of recognition of share option costs in the current quarter, coupled with a one-off gain from a compulsory land acquisition recorded in the last quarter. 'The group's ongoing cost reduction and efficiency efforts, supported by strong leadership and innovation, have yielded positive results. All business units contributed to the improved performance, showcasing the strength of the group's diversified portfolio, with the ready-mix concrete business excelling in delivering high-value, bespoke products tailored to the evolving needs of the construction industry,' he said. Meanwhile, YTL Hospitality REIT recorded revenue of RM421.3mil for 9MFY25, approximating that of the corresponding 9MFY24, whilst net property income grew 2% to RM228.1mil for the current period under review compared to RM223.7mil for the same period last year.
The Star
20-05-2025
- Business
- The Star
Eversendai secures RM1.3bil in contracts
KUALA LUMPUR: Eversendai Corp Bhd has secured three projects in UAE, India and Singapore with a combined value of RM1.3bil, it announced to the stock exchange today. With the inclusion of these projects, the group's oustanding order book has risen to a record RM6.6bil. In the UAE, Eversendai Offshore has secured a project from Dragados Offshore S.A.U., Spain, for the fabrication of structural steel for the offshore converter blocks (topside) for the LanWin2, BalWin3 and LanWin4 offshore grid connection projects in Germany. The offshore grid connection systems LanWin2, BalWin3 and LanWin4 are part of TenneT's 2GW programme, which sets new standards in offshore grid infrastructure and doubles the existing transmission capacity of offshore grid connection systems. Eversendai said the blocks for the three topsides - which will be executed at the fabrication facility in Ras Al Khaimah in the UAE - will be delivered progressively by December 2027. Meanwhile, Eversendai in India has secured the Chennai International Airport's Phase II modernisation project, focused on significantly expanding the airport's capacity. It said the terminal 2 extension will add around 1.2 million square feet of space to the terminal buildings. Lastly, Eversendai has secured a contract for the construction of the New Science Centre in Singapore, with the composite building consisting of truss, columns, and beams from Level 2 to roof. "The scope for all these projects includes engineering, connection design, shop drawings, steel material supply, fabrication, delivery, erection of structural steel work," said the group.
The Star
15-05-2025
- Business
- The Star
FBM KLCI struggles for momentum amid cautious buying interest
KUALA LUMPUR: The FBM KLCI struggled to maintain its upward momentum due to weak buying interest, closing the morning session lower. At midday, the FBM KLCI slipped 8.57 points or 0.54% to 1,574.94, just marginally higher than its intramorning low of 1,574.13. Gainers numbered 396, trailing losers at 513, while 471 counters remained unchanged. Trading volume stood at 2.4 billion shares, valued at RM1.3bil. Nestle, the top decliner, fell 82 sen to RM83.98, followed by Kluang, which lost 40 sen to RM5.56. PETRONAS Dagangan eased 32 sen to RM20.22, while Tenaga declined 18 sen to RM14.12. Among the gainers, Malaysian Pacific Industries rose 42 sen to RM21.74, Heineken added 24 sen to RM27.74, Carlsberg gained 22 sen to RM19.38 and Chin Tek climbed 11 sen to RM8.30. TA Securities said the local market should stay in consolidation mode as investors will likely remain cautious ahead of the release of Malaysia's first-quarter GDP data later this week. 'Immediate resistance remains at 1,610, with the next major resistance seen at 1,644, followed by the August 2024 high of 1,684. Immediate support is maintained at 1,526, with 1,490 and 1,444 acting as stronger supports,' it added. Meanwhile, Malacca Securities remains optimistic about the outlook for blue-chip stocks, citing strong fundamentals and stable dividends as key drivers amid renewed foreign fund inflows into the Malaysian market. The research house said that despite global headwinds from US tariffs and geopolitical tensions, Bank Negara Malaysia's move to lower the Statutory Reserve Requirement (SRR) from 2% to a 14-year low of 1% may boost loan uptake among businesses and help stimulate economic growth. 'We maintain a positive outlook on the construction sector, driven by ongoing data centre investments and major developments across the country, such as the JSSEZ. The Construction Index has also broken above its MA200 resistance,' Malacca Securities said.
The Star
12-05-2025
- Business
- The Star
Sunway optimistic of growth on solid economy
PETALING JAYA: Sunway Bhd expects the favourable macroeconomic factors will continue to support its business growth this year. President Tan Sri Chew Chee Kin noted that the global economy is navigating an increasingly challenging and complex macroeconomic landscape. 'The year ahead may face headwinds surrounding tariffs and policy uncertainties, posing adverse risks to global economic growth, rising inflationary pressure and a retreat in major investment decisions,' he said in the company's annual report. Chew believes that Malaysia's economy is expected to be sustained in 2025, anchored by domestic demand, employment and wage growth and continued expansion in infrastructure and digital infrastructure investments amidst the global technology upcycle. 'As Malaysia assumed the Asean chair in 2025, efforts to strengthen the Asean economic bloc could fortify Malaysia's economic resilience.' He said Malaysia's real estate market is anticipated to remain resilient in 2025, anchored by spillover from the national master plans and catalytic initiatives in the southern region. 'The property development segment strategically planned its property launches and landbanking efforts in key growth areas in Malaysia while continuing to explore regional opportunities. 'This year, the property development division sets a property launch target of RM4.1bil across Malaysia, Singapore and China, and property sales target increased to RM3.6bil (2024: RM3bil). 'In accelerating development in the southern region, Sunway City Iskandar Puteri (SCIP) continues its focus on creating a self-sustaining township, capitalising on Sunway's strong track record in replicating its build-own-operate model. 'The focus is on fostering vibrant economic activities and job creation to ensure the township's success.' In 2025, Chew said the group plans to launch RM1.3bil worth of properties in SCIP and Johor Baru. Separately, he said the demand for the healthcare sector is expected to rise in the medium to long term, as the nation transitions towards an ageing population and increasing need for superior quality healthcare services. 'The healthcare division's strategic priorities in the financial year 2025 and beyond are expanding its network of hospitals and capacity, ensuring clinical excellence, accelerating digital innovation and growing medical tourism. 'Expansion efforts will continue to focus on both greenfield and brownfield expansion. 'This includes the opening of Sunway Medical Centre Ipoh in April 2025 and progressively increasing the number of licensed beds at Sunway Medical Centre Sunway City, Sunway Medical Centre Penang and Sunway Medical Centre Velocity.' He also said preparation for the initial public offering of Sunway Healthcare Group is underway, underscoring the management's confidence in its robust growth trajectory. Additionally, Chew said the prospects for Malaysia's construction sector are anchored by sustained public and private sector investments, as well as foreign direct investment. 'The construction division is well-positioned to capitalise on these opportunities given its strong execution and delivery excellence track record. 'The division's strategic focus in the advanced technology facilities sphere is well-positioned to capitalise on the opportunities in data centre development, reinforced by Malaysia's aspiration to become a key regional data centre hub.'
