Latest news with #RM1.57
Malaysian Reserve
19-05-2025
- Business
- Malaysian Reserve
Pekat lands another TNB contract, retains 'Buy' with higher target price of RM1.57
PEKAT Group Bhd has retained its 'Buy' call for its counter with a 52-week target price of RM1.57, up from RM1.30, at Phillip Securities Sdn Bhd. In a research note released today, Phillip Securities said it continued to like Pekat for its synergistic businesses that are set to benefit from Malaysia's RE initiatives. EPE Switchgear (M) Sdn Bhd, an indirect 60%-owned subsidiary of the company, had on May 15 received a letter of award dated May 9 May from Tenaga Nasional Bhd (TNB) for a tender submitted in relation to the supply, installation, testing, and commissioning of 33 kilovolt (kV) gas insulated switchgear & 11kV GIS and additional equipment for TNB's distribution network. The two-year period contract is priced at RM135.24 million, inclusive of sales and service tax, Pekat said in an exchange filing on Friday. Phillip Securities noted that this was the second long-term contract secured by EPE Switchgear in 2025, bringing year-to-date (YTD) new contract wins to RM232.5 million, well on track to meet its full-year replenishment assumption of RM240 million. Based on EPE Switchgear's historical net profit margin of 10–12%, it estimated that the contract would contribute RM14 million to 16 million net profit (PAT) over 2025-27E. It said the contract also suggested potential upside to EPE Switchgear's RM16 million annual profit guarantee. The Kota Damansara, Selangor based company is a solar photovoltaic (PV) supplier as well as earth termination and surge protection systems. –TMR
New Straits Times
03-05-2025
- Business
- New Straits Times
PAS states' taxes might not cover development costs, says Rafizi
KUALA LUMPUR: Economy Minister Datuk Seri Rafizi Ramli has hit back at criticism from the opposition, accusing the Federal Government of sidelining the Perikatan Nasional's ruled states by not returning the taxes collected in the states. He said if the Kelantan state government, for example, can't create an investment-friendly business environment and generate good, high-paying jobs, it may struggle to bring prosperity to the people even if it collects taxes under federal jurisdiction. Rafizi said those taxes, such as business and individual income taxes, or sales taxes related to business activity, might not be enough to cover the state's development costs, which were currently supported by the federal government. "That's why it's better for us to compete with our expertise in boosting the economy, rather than playing on sentiments by accusing the federal government of victimising opposition states," he said in an X post, previously known as Twitter. He also asked how many taxes would be collected in Kelantan if the state government were collecting the taxes currently under the federal government's jurisdiction. PN and PAS are currently leading four state governments, namely Perlis, Kedah, Kelantan and Terengganu. In April, Prime Minister Datuk Seri Anwar Ibrahim said the federal government's allocations to Kelantan and Terengganu had consistently increased since he took over the government in 2022. He said Kelantan saw a 30 per cent increase in 2024 allocation to RM762 million from RM588 million in 2023. Meanwhile, Terengganu's allocations recorded a 28 per cent increase to RM2.02 billion last year from RM1.57 billion the previous year.
Free Malaysia Today
29-04-2025
- Free Malaysia Today
Johor cops dismantle 5 drug syndicates, seize drugs worth RM9mil
Johor police chief M Kumar said all five suspects have been remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952 for drug trafficking. (Bernama pic) PETALING JAYA : Johor police arrested five men, including a Singaporean, and seized nearly 70kg of drugs worth RM9 million across four districts during a crackdown on drug syndicates in the state from April 20 to 24. State police chief M Kumar said a total of five drug trafficking syndicates were dismantled, three of which used vehicles to store drugs, while the other two used apartments. He said a 22-year-old local man was arrested in the first operation on April 20 at 1.30pm along Jalan Abdullah Tahir, with the seizure of 9.35kg of ecstasy and 62g of ketamine valued at RM1.57 million. 'These drugs were discovered during an inspection of an apartment rented by the suspect since early March,' Bernama quoted him as saying at the Johor contingent police headquarters today. Kumar said the next operation at a jetty in Batu Pahat on April 21, at around 11.30pm, saw the arrest of a 36-year-old local man as well as the seizure of 20.71kg of methamphetamines and 13.99g of Erimin 5 pills valued at RM3.34 million. Kumar said the second syndicate used a Ford Ranger to store and distribute drugs to a neighbouring country, with the suspect operating the vehicle under someone else's name. He said on April 23, police dismantled a syndicate in Kota Tinggi, arresting a 36-year-old local man and seizing 20kg of ecstasy worth RM1.72 million. The suspect had used a rented Honda Civic to store and process the drugs to avoid detection. In another raid in Kluang on the same day, authorities seized 9.90kg of ecstasy, 187.3g of ketamine, and 78.3g of Erimin 5 pills valued at RM1.69 million. Kumar said a 33-year-old local man was arrested in this operation for allegedly using a Proton Iswara to store and distribute drugs. Also on April 23, a 47-year-old Singaporean man was arrested at an apartment in Danga Bay at 10pm. He was suspected of using a fake national identity card to rent the apartment for several months. 'In total, we managed to seize 10kg of ecstasy powder, 31.3g of ketamine, 44g of marijuana, 9g of heroin, 6g of ecstasy pills, and 1.2g of yaba pills, all valued at RM1.68 million,' Kumar said. He said all five suspects, who tested positive for methamphetamine, were remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952 for drug trafficking.
New Straits Times
29-04-2025
- New Straits Times
Johor police smash five drug syndicates, seize nearly 70kg drugs worth RM9mil
JOHOR BARU: Johor police have arrested five men, including a Singaporean, and seized nearly 70kg of drugs worth RM9 million during a five-day crackdown on drug syndicates across four districts between April 20 and 24. State police chief Datuk M. Kumar said five syndicates were crippled. Three of the syndicates had used vehicles to store drugs, while two others used apartments as storage sites. In the first operation on April 20 at 1.30pm along Jalan Abdullah Tahir, a 22-year-old local man was arrested and 9.35kg of ecstasy and 62g of ketamine were seized. The drugs, worth RM1.57 million, were found in an apartment the suspect had rented since early March. The next operation took place on April 21 around 11.30pm at a jetty in Batu Pahat. A 36-year-old local man was arrested with 20.71kg of syabu and 13.99g of Erimin 5 pills, valued at RM3.34 million. Kumar said the second syndicate used a Ford Ranger to store and distribute drugs across the border. The vehicle was operated under someone else's name. On April 23, police busted another syndicate in Kota Tinggi, arresting a 36-year-old local man and seizing 20kg of ecstasy worth RM1.72 million. The suspect had used a rented Honda Civic to store and process the drugs to evade detection. In another raid in Kluang on the same day, authorities seized 9.90kg of ecstasy, 187.30g of ketamine, and a significant quantity of Erimin 5 pills, worth RM1.69 million. A 33-year-old local man was arrested for allegedly using a Proton Iswara to store and distribute the drugs. Later that day, a 47-year-old Singaporean man was arrested at an apartment in Danga Bay at 10pm. He is suspected of using a fake national identity card and had been renting the unit for several months. "In total, we seized 10kg of ecstasy powder, 31.30g of ketamine, 44g of marijuana, nine grams of heroin, six grams of ecstasy pills, and 1.20g of yaba pills, valued at RM1.68 million," Kumar said. All five suspects tested positive for methamphetamine and have been remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952.
The Sun
29-04-2025
- The Sun
Johor police dismantle five drug syndicates, seize nearly 70 kg of drugs worth RM9 million
JOHOR BAHRU: Johor police arrested five men, including a Singaporean, and seized nearly 70 kilogrammes (kg) of drugs worth RM9 million across four districts during a crackdown on drug syndicates in the state from April 20 to 24. State police chief Datuk M. Kumar said that in total, five drug trafficking syndicates were successfully dismantled, three of which used vehicles as drug storage sites, while the other two involved apartments. He added that a 22-year-old local man was arrested in the first operation on April 20 at 1.30 pm along Jalan Abdullah Tahir, with the seizure of 9.35 kg of ecstasy and 62 grams of ketamine, valued at RM1.57 million. 'These drugs were discovered during an inspection of an apartment rented by the suspect since early March,' he said at a press conference at the Johor contingent police headquarters today. He added that the next operation took place on April 21 at around 11.30 pm at a jetty in Batu Pahat, where a 36-year-old local man was arrested with the seizure of 20.71 kg of syabu and 13.99 grams of Erimin 5 pills, valued at RM3.34 million. Kumar said the second syndicate used a Ford Ranger to store and distribute drugs to the neighbouring country, with the suspect operating the vehicle under someone else's name. He also noted that on April 23, police dismantled another syndicate in Kota Tinggi, arresting a 36-year-old local man and seizing 20 kg of ecstasy worth RM1.72 million. The suspect had used a rented Honda Civic to store and process the drugs to avoid detection. In another raid in Kluang on the same day, authorities seized 9.90 kg of ecstasy, 187.30 grams of ketamine, and 78.30 Erimin 5 pills, valued at RM1.69 million. Kumar said a 33-year-old local man was arrested in this operation for allegedly using a Proton Iswara to store and distribute drugs. Also on April 23, a 47-year-old Singaporean man was arrested at an apartment in Danga Bay at 10 pm, suspected of using a fake national identity card and renting the apartment for several months. 'In total, we managed to seize 10 kg of ecstasy powder, 31.30 grams of ketamine, 44 grams of marijuana, nine grams of heroin, six grams of ecstasy pills, and 1.20 grams of yaba pills, all valued at RM1.68 million,' he added. Kumar also said that all five suspects, who tested positive for methamphetamine, have been remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952.
