Latest news with #RM1.7mil
The Star
2 days ago
- Business
- The Star
Energy Commission disposes of seized goods worth over RM1.7mil
PUTRAJAYA: The Energy Commission has disposed of 2,933 seized items valued at over RM1.7mil following investigations into various offences related to electrical safety and usage. According to the commission, the disposal carried out on Tuesday (June 3) involved seizures from cases in Perlis, Kedah and Penang that led to 21 investigation papers resolved through court rulings and compounds. Of the total, 16 involved electrical accidents, four were electricity theft cases, and one was for the use of illegal electrical equipment. "The disposal process was conducted at a licensed metal disposal centre in Balakong, Selangor, and was witnessed by our Enforcement and Regional Operations director Ismail Zaili Yusop, and Investigation Unit deputy director Nik Mohd Bakhry Abu Bakar,' it said in a statement on Wednesday (June 4). It added that the disposal process was carried out according to instructions from the prosecution under Sections 406A and 413 of the Criminal Procedure Code (Act 593). The commission also stressed that the disposal was conducted in an environmentally responsible manner through the appointment of a company licensed by the Environment Department (DOE) to handle e-waste management. This process complies with the Environmental Quality Act 1974 and the Environmental Quality (Scheduled Waste) Regulations 2005, it added. "The management of seized goods also involves the separation of scheduled waste, recyclable materials and regular waste. Suitable items are sent to legitimate buyers and appropriate recovery facilities according to the waste categories,' it said. The commission said this integrated approach reflects its ongoing commitment to law enforcement while supporting environmental conservation. – Bernama
The Star
4 days ago
- Business
- The Star
Global condom market growth lifts Karex's outlook
PETALING JAYA: Analysts expect the global condom market to grow faster than the global economy, driven by rising sexual health awareness, a shift from government to private sector procurement and greater eCommerce adoption. This is expected to bode well for condom maker Karex Bhd , said Kenanga Research. 'This trend favours large, innovative manufacturers like Karex, which is well-positioned to capture more market share, high-value condom and lubricant orders through its diverse product portfolio, regulatory reach, and strong environmental, social and governance credentials. 'While near-term sales may be affected by evolving tender commercial dynamics, the group sees medium-term growth opportunities – particularly its higher margin synthetic condoms and lubricant products, which are gaining traction in key markets.' For its third quarter of financial year ended March 31, 2025 (3Q25), Karex's net profit dipped to RM5.09mil from RM6.02mil in the previous corresponding quarter, while revenue improved to RM135.72mil from RM127.05mil a year earlier. In a filing with Bursa Malaysia, Karex said the higher revenue was primarily due to stronger sales of both condoms and personal lubricants during the quarter. 'Despite the increase in sales, the implementation of minimum wage increases in Thailand and Malaysia, heightened logistics costs stemming from trade disputes and less favourable foreign-exchange rate movements resulted in a decrease in profitability. 'As a result, the 3Q25 profit before tax of RM6.6mil represented a decrease of RM1.7mil in comparison to the corresponding quarter in the previous financial year,' it said. For the nine-month period of financial year ended March 31, 2025 (9M25), Karex's net profit dropped to RM9.67mil from RM18.6mil, while revenue fell to RM377.63mil from RM383.93mil a year ago. Kenanga Research said 9M25 net profit fell short of expectations, accounting for only 47% of its forecast and 52% of consensus estimates. 'A five sen dividend was declared for the quarter, unchanged year-on-year.' Despite the improved outlook, the research house lowered the company's financial year 2025 (FY25) and FY26 net profit forecasts by 32% and 16%, respectively, to RM14mil and RM38mil after incorporating the weak 3Q25 results. It also reduced its margin assumptions to align with the prevailing trends. Correspondingly, it lowered its target price by 16% to 90 sen from RM1.07 previously, with an unchanged targeted FY26 price-to-earnings ratio (PER) of 25 times. 'This represents a 20% premium to the average historical five-year forward PER of its international peers to reflect its dominant market position and strong growth prospects.'
The Star
07-05-2025
- The Star
Local cops foil plot to kidnap Chinese boy
Compiled by C. ARUNO, FAZLEENA AZIZ and R. ARAVINTHAN A TEENAGER from China was believed to have been kidnapped by his fellow countrymen in Malaysia but was rescued thanks to the efforts of the Malaysian police, reported China Press. The 18-year-old, whose surname is Ye, from China's Guangdong province, was reportedly studying information technology in Singapore. According to Ye's parents, for reasons unknown to them, their son had travelled to Johor Baru from Singapore on April 30 and ended up being abducted. The parents said they received a message on May 2 showing a video of their son being beaten up by a group believed to be Chinese nationals. One of the men asked them for a ransom of 500,000 yuan (RM290,000) for the safe release of their son. A few hours later, the kidnappers sent another video of Ye being beaten up again. They threatened to kill Ye and sell his organs if the parents did not pay them three million yuan (RM1.7mil). The parents, both based in Dubai, rushed to Malaysia and made a police report with the help of a local businessman. Police launched an interstate operation and arrested a 23-year-old suspect from China at the Penang International Airport departure hall. The police also managed to locate Ye in Kulim, Kedah, and rescued him. The above articles are compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). As such, stories are grouped according to the respective language/medium. Where a paragraph begins with a, it denotes a separate news item.
