Latest news with #RM1.45bil
The Star
28-05-2025
- Business
- The Star
Matrix Concepts registers RM1.38bil new property sales in FY25
KUALA LUMPUR: Matrix Concepts Holdings Bhd recorded new property sales of RM1.38bil in the financial year ended March 31, 2025 (FY25), a 10.4% increase over sales of RM1.25bil in the previous year. In a statement, the property developer said the new property sales was underpinned by a strong performance across its core township developments Sendayan Developments and Bandar Seri Impian, alongside its Klang Valley high-rise project, Levia Residences. There was also maiden contribution from industrial land sales at Malaysia Vision Valley City (MVV City). In FY25, Matrix Concepts posted a net profit of RM214.1mil, down from RM244.31mil in the previous year, on revenue that was also lower at RM1.19bil against RM1.34bil in FY24. The group's earnings per share dipped to 16.37 from 19.52 sen previously. In the fourth quarter alone, Matrix Concept's net profit was RM42.67mil, down from RM60.6mil in 4QFY24, while revenue fell to RM305.17mil from RM353.14mil in the comparative quarter. It said the weaker set of figures was primarily due to the timing of launches and revenue recognition for properties sold in Sendayan Developments and Bandar Seri Impian. "Despite the impact of the timing differences on topline, the group achieved a significant improvement in gross profit margin at 51% in FY25 compared to 46.4% for FY2024. "The margin expansion was primarily driven by a favourable mix, including accelerated recognition from industrial and commercial property developments," it said. In FY25, Matrix Concepts launched projects with a total gross development value (GDV) of RM1.45bil, a 9.8% increase from RM1.32bil previously. "The collective take-up rate for FY25 launches stood at 73% as at March 31, 2025, reflecting robust buyer confidence," it said. Moving forward, chairman Datuk Mohamad Haslah Mohamad Amin said the group is positioned for transformative growth in FY26, supported by a launch target of RM1.6bil GDV in new projects. "These upcoming launches include the first phase of the MVV City's industrial land, a key catalyst for our next growth phase. "Spanning 2,382 acres with a projected GDV of RM15bil, the MVV City development is poised to provide a clear earnings trajectory in the near term and reinforce our long-term confidence," he said.
The Star
27-05-2025
- Business
- The Star
ITMAX expects to secure more town council projects
PETALING JAYA: ITMax System Bhd , which has a total unbilled order book of more than RM1.45bil, is in a good position to secure more projects in the near term. Hong Leong Investment Bank (HLIB) Research, in its latest report on ITMAX, said: 'After securing five out of 16 Johor councils, we expect all to come on board over time to realise the integrated smart city system. 'Furthermore, these deals only comprised digital infrastructure solutions and smart traffic light systems. 'We do not discount that other solutions such as network lighting and more smart parking (currently it has secured jobs from seven councils) could be included. 'Along with the recently awarded Kuala Lumpur City Hall variation order and maiden penetration into Penang, ITMAX is expected to continue to scale new heights,' it said. As at the end of the first quarter of 2025 (1Q25), ITMAX had a total unbilled order book of more than RM1.45bil, which would be recognised progressively up to May 2039. At the end of 1Q25, ITMAX's tender book stood at more than RM500mil. ITMAX is a provider of public space networked systems focusing on lighting, video surveillance and traffic management, as well as communications network services. ITMAX recorded a revenue of RM50.7mil in 1Q25 and yielded a quarterly core net profit of RM20.3mil, which matched expectations, accounting for 24% and 22% of HLIB Research's and consensus full-year forecasts, respectively. The research house is reiterating its 'buy' call with an unchanged target price of RM5.17. 'We opine that ITMAX deserves a premium valuation as it has unique direct exposure to the artificial intelligence theme, especially at the application level. 'We believe that this home-grown smart city integrated system and solution provider, has a compelling investment case, given its multi-year growth potential, on the back of solid order and tender books.'
The Star
14-05-2025
- Business
- The Star
Songs and acts of generosity are a balm for locals along US-Canada border
Canadians are coming up with serious answers to a question that many would never have thought to consider: How to respond if the United States starts a war? Fight. Hard, says Drew Dilkens, mayor of Windsor, Canada's most important town along the border with the US. Through the window, he can see Detroit, Michigan's shining skyscrapers which are only partially obscured by Canadian flags flapping in the wind. The two cities have long had close and friendly ties – for more than a century – but threats by the new administration in the US to annex Canada have upset the assumptions of many, at home and abroad. The US might be stronger in military terms but Dilkens hopes allies worldwide would pitch in and help. US president Donald Trump has begun a trade war with Canada and other nations worldwide – and while Washington's tone is more conciliatory, many are still bracing for the next escalation. Early April, Trump announced the US was imposing blanket tariffs of at least 10% on all imports to the country, plus additional levies for a host of trading partners, triggering significant turbulence in the stock and financial markets. While many of the planned tariffs have been suspended for 90 days to allow for trade negotiations, special tariffs of up to 145% remain in place on Chinese goods and Beijing retaliated with tariffs of up to 125% on US products. Trump's tariffs, with the stated aim of bringing manufacturing jobs back to the US, are driving people worldwide to rethink their relations with Washington. The North American Free Trade Agreement covers 38% of imports from Canada, according to the White House. The two neighbours sought a solution in talks – with Trump's repeated desire to make Canada the US' 51st state in the background. Many north of the border no longer see this as a joke. With thousands of jobs at risk in the Great Lakes region, where the US state of Michigan borders Canada's Ontario, tensions are high. It is not just cars that are made in the area – goods worth around US$340mil (RM1.45bil) flow across the famous Ambassador Bridge every day, more than a quarter of the total trade between the two neighbours. Detroit River divides Canada and the US, but locals on each side of the border are trying to stay cool despite Washington's trade war – and singing is helping. And on the ground, locals long befriended with members of the communities from the other nation are unsettled. At the Stellantis car factory in Windsor, Canada, Chrysler models are rolling off the production line. Outside, workers are streaming through turnstiles, heading home after their shift. Only one is willing to share his views with a reporter from Europe. He turns up his radio in his truck and plays the song Deutschland by Rammstein. Sure, he talks to his colleagues about the customs dispute, he shouts over – but there's 'nothing I can do', he says. Other people are making the decisions. He points upwards. On the US side of the border, those ashamed of their president's behaviour are most willing to talk. We're the laughing stock of Europe, grumbles a man working for a car rental company at the airport. Tourists might stop coming to the US. People could lose their jobs. Luka Backus mixes cocktails at a hip bar in the heart of Detroit, once a pinnacle of glamour but now a symbol of decay and reinvention. Prices are high here, with the least expensive drink costing US$20 (RM85). 'Fridays and Saturdays are always still busy, but we've noticed a drop in that. But Wednesdays and Thursdays are dead,' he says. People are nervous, he says. 'It hits us really hard, and even the people that are coming in aren't tipping as well.' One couple came into Toast restaurant in Windsor on the Canadian side of the Detroit River were generous, says co-owner May Hermiz. 'They came and sat down, and we took their order, you know, got talking to them a little bit, and they told us that they were from the US and they love Canadians,' she says. 'They told us they love how we won the hockey game that day. And they told us how they want to pay for everybody in the restaurant that was sitting in at the moment,' she says. 'And mind you, it was a packed house. About 70 people were sitting dining in and they said they want to pay for everybody and that they don't like what Trump is doing to us,' Hermiz says. 'They don't think it's fair. They said not all Americans love Trump, and they want to show their appreciation, and their love for Canada, and they want to just pay for everybody in the establishment,' she says. They paid the US$1,138 (RM4,868) bill and everyone clapped and the couple went and hugged them, she says. 'And really it was very heartwarming to see, because of everything, like all the dividedness between us today, and it was just two people, just randomly coming to Canada, randomly coming to this restaurant, supporting a local small business, and they just wanted to pay for everybody to show their appreciation and love for Canadians.' The divisions she refers to are evident as Canadians fly flags from their cars in a new-found cohesion and pride not seen in the past. Drinks made in the US are no longer on sale in stores. Erin Hawkins vents her anger loud and clear at around midnight on a Sunday night as she steps up to the microphone at Villains pub in downtown Windsor. It's karaoke night and the speakers are blaring I Will Survive. But Hawkins has brought her own lyrics. 'And we spent so many nights thinking how you did us wrong,' she sings to the tune of the Gloria Gaynor hit. 'Now we've banded all together, your tariff made us strong.' She belts out, 'And so you know, you're not so great/ There's not a snowball's chance in hell we'll be your 51st state.' She rounds off her rendition of the karaoke classic with a determined, 'We will survive!' – dpa
