Latest news with #RM10.4mil
The Star
27-05-2025
- Business
- The Star
MHB's profit up 17.4% in 1Q25
KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd 's (MHB) net profit rose 17.4% to RM12.2mil in the first quarter ended March 31, compared with RM10.4mil in the year-ago quarter, contributed by both heavy engineering and marine segments. Revenue, however, more than halved to RM453.1mil from RM984.5mil previously. The decline was primarily due to lower revenue contribution from the heavy engineering segment. Its earnings per share rose to 0.80 sen against 0.70 sen a year ago. The heavy engineering segment posted revenue of RM320.2mil, down from RM869.1mil a year ago, due to lower activity from projects nearing completion, while operating profit rose to RM2.2mil from RM0.3mil, supported by the successful close-out of completed projects. The marine segment recorded revenue of RM132.9mil, up from RM115.4mil a year ago, due to higher conversion activities, with operating profit rising to RM17.4mil from RM13.8mil in line with the improved topline. The energy and marine solutions provider said that despite the challenging environment, its heavy engineering segment remains supported by a healthy order book and growing opportunities in the new energy sector. 'Leveraging on its technical expertise and industry experience, the segment will continue to sustain its presence in conventional energy while driving growth in new energy sectors to maintain a well-balanced portfolio,' MHB said.
The Star
20-05-2025
- Business
- The Star
RM10.4mil fraud uncovered at federal dept
Tackling fraud together: Azam (centre) launching the Accounting Fraud Task Force in Kuala Lumpur. Also present were Wan Suraya (third right) and Nor Yati (third left). — Bernama KUALA LUMPUR: The Accountant General's Department (AGD) has uncovered a case of financial fraud involving a federal department, resulting in losses amounting to RM10.4mil. Accountant-General Nor Yati Ahmad said the case, which involved public servants, is among several identified between 2019 and 2024, with total losses estimated at RM18mil. 'Enforcement action has already been taken in connection with the case,' she told a press conference after the launch of the Accounting Fraud Task Force (KKFP) here yesterday, Bernama reported. Also present were Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki and Auditor-General Datuk Seri Wan Suraya Wan Mohd Radzi. Nor Yati said the fraud involved manipulation of financial systems and unauthorised changes to accounting procedures. She said the AGD is now taking proactive steps by using digital tools to analyse financial data and identify suspicious transactions or early warning signs. 'We're no longer relying solely on third-party reports. 'Technology-driven monitoring has become part of our standard operations and will continue to be strengthened,' she said. Meanwhile, in her speech, Nor Yati highlighted the increasing complexity of public sector accounting due to rapid technological and socio-economic developments, which require stronger collaboration across agencies. She said the setting up of KKFP aligns with the government's focus on integrity and good governance, and is expected to enhance fraud prevention efforts in the public sector. 'The AGD is fully committed to supporting KKFP through strategic collaboration with relevant agencies. 'With collective efforts and the sharing of best practices, we can significantly improve the detection and prevention of financial fraud,' she added.
