Latest news with #RM11.4
The Sun
19-05-2025
- Business
- The Sun
RTM Langkawi Broadcasting Complex set to be completed in September
LANGKAWI: The construction of the Radio Televisyen Malaysia (RTM) Langkawi Broadcasting Complex in Kuah here is expected to be completed in September, said Communications Minister Datuk Fahmi Fadzil. He said that, so far, he is satisfied with the project's progress, which has reached 49 per cent, since it was taken over by a new contractor in October 2023. 'Two years ago, this project was considered an ailing project. After stern action was taken together with the Public Works Department (JKR) by terminating the previous contractor and appointing a new contractor, we can see today that the progress of this project is encouraging and it is expected to be completed within the stipulated time. '(Then) several matters will be scrutinised, including the issues of internet and equipment, and most importantly the (complex's) overall structure is almost finished and only a few more issues need to be looked into. Congratulations to the Kedah JKR for being able to complete this project,' he said. He told reporters this after a working visit to the RTM Langkawi Broadcasting Complex Project here today. Also present was Communications Ministry secretary-general Datuk Mohamad Fauzi Md Isa. Fahmi also expressed confidence that the project could be completed as scheduled since several things could be done simultaneously. He added that RTM Langkawi previously rented a Tabung Haji-owned premises for about 30 years, with the rental contract renewed from time to time. It is learnt that the new complex project, costing more than RM11.4 million, also involves the construction of a building with, among others, office administration space, guard room, guest room, ICT rooms, meeting rooms, store, surau, cafeteria and parking facilities. The complex will also have broadcast engineering space like a broadcasting and radio recording studio, editing and ingest room, main control room, newsTV studio, multipurpose studio and a radio server room. The project was considered ailing when the previous contractor, who was appointed in March 2021, failed to complete the building project on the 4.0465-hectare site and his services were terminated in 2023. Meanwhile, Fahmi said the ministry's target after this will be to complete the RTM Complex project in Bintulu, Sarawak. 'Instructions have been given to the KSU (ministry secretary-general) to focus on completing the RTM project in Bintulu, together with the tearing down and reconstruction of several RTM staff quarters,' he said.
Barnama
19-05-2025
- Business
- Barnama
RTM Langkawi Broadcasting Complex Set To Be Completed In September
LANGKAWI, May 19 (Bernama) -- The construction of the Radio Televisyen Malaysia (RTM) Langkawi Broadcasting Complex in Kuah here is expected to be completed in September, said Communications Minister Datuk Fahmi Fadzil. He said that, so far, he is satisfied with the project's progress, which has reached 49 per cent, since it was taken over by a new contractor in October 2023. "Two years ago, this project was considered an ailing project. After stern action was taken together with the Public Works Department (JKR) by terminating the previous contractor and appointing a new contractor, we can see today that the progress of this project is encouraging and it is expected to be completed within the stipulated time. "(Then) several matters will be scrutinised, including the issues of internet and equipment, and most importantly the (complex's) overall structure is almost finished and only a few more issues need to be looked into. Congratulations to the Kedah JKR for being able to complete this project,' he said. He told reporters this after a working visit to the RTM Langkawi Broadcasting Complex Project here today. Also present was Communications Ministry secretary-general Datuk Mohamad Fauzi Md Isa. Fahmi also expressed confidence that the project could be completed as scheduled since several things could be done simultaneously. He added that RTM Langkawi previously rented a Tabung Haji-owned premises for about 30 years, with the rental contract renewed from time to time. It is learnt that the new complex project, costing more than RM11.4 million, also involves the construction of a building with, among others, office administration space, guard room, guest room, ICT rooms, meeting rooms, store, surau, cafeteria and parking facilities. The complex will also have broadcast engineering space like a broadcasting and radio recording studio, editing and ingest room, main control room, newsTV studio, multipurpose studio and a radio server room.
New Straits Times
12-05-2025
- Business
- New Straits Times
Hartalega downgraded amid sector uncertainty despite earnings surge
KUALA LUMPUR: Hartalega Holdings Bhd has been downgraded to a "hold" rating from "buy" as analysts grow cautious over the company's near-term prospects amid increasing uncertainty in the global glove industry. Hong Leong Investment Bank Bhd (HLIB Research) has lowered its target price for Hartalega to RM2.16 per share, citing increased uncertainty over the industry's supply-demand equilibrium as it heads into 2026. The new target price is based on a more conservative price-to-earnings (P/E) multiple of 26 times, down from 32 times, applied to the glovemaker's unchanged calendar year 2026 earnings per share (EPS) forecast of 8.3 sen. The revised valuation comes despite Hartalega's stronger-than-expected earnings in the fourth quarter ended March 31, 2025, which came in at 192 per cent of HLIB Research's full-year forecast. Hartalega's core profit after tax and minority interests (PATMI) for the fourth quarter of financial year 2025 (4QFY25) came in at RM11.4 million, representing a significant year-on-year increase of 8.9 times, despite a 54.6 per cent decline compared to the previous quarter. This brought the group's full-year FY25 core PATMI to RM68.6 million—a 4.4-fold jump from the previous financial year—driven by higher-than-anticipated revenue supported by more favourable average selling prices (ASP). "Despite the upbeat results, we maintain our FY26–27 forecasts as we expect the performance in the first quarter of financial year 2026 (1QFY26) to be weighed down by the ringgit's 4.3 per cent appreciation against the US dollar since late April 2025," it said in a note. On a positive note, HLIB Research said the current 145 per cent US tariff on China imports could encourage a gradual demand shift away from vinyl gloves to nitrile rubber gloves, mainly from Malaysian manufacturers, by US buyers. This, it said, could help to absorb the additional rubber glove capacity coming from Chinese players. China dominates the US vinyl glove market with a 70-75 per cent share and has been selling for US$9-10 per 1,000 pieces. However, the imposition of the tariff would drastically inflate the price of Chinese vinyl gloves to US$22-24.5 per 1,000 pieces, which is more expensive than generic nitrile rubber gloves at US$15-16 per 1,000 pieces. "While both vinyl and nitrile gloves are Type 1 allergy-free, nitrile gloves offer superior elasticity and provide a better barrier against contamination. "Moreover, the steep US reciprocal tariffs on Vietnam at 46 per cent and Indonesia at 32 per cent, presently on a 90-day pause, could discourage Chinese glove makers from expanding there," HLIB Research added. RHB Research, meanwhile, said that its late-March sector upgrade has largely materialised, with stocks under its coverage posting gains of 7 to 15 per cent. The firm has maintained a BUY on Hartalega with a revised target price of RM2.83 (from RM3.30), offering 33 per cent upside potential. It noted that Hartalega is currently trading at 1.65 times its 2025 price-to-book value (P/BV), which is 0.3 standard deviations below its three-year historical mean of 1.8 times. The research firm views this valuation as attractive, especially in light of the anticipated earnings recovery in 1QFY26 following the completion of the inventory adjustment cycle. "The management guided that the May orderbook had picked up to 2.3 billion pieces from an average monthly orderbook of 2 to 2.1 billion pieces, with 1QFY26 guided volume to be within the range of 6 to 6.5 billion pieces, indicating a 6 per cent QoQ growth at the higher end of guidance.
The Sun
24-04-2025
- Business
- The Sun
AME REIT Q4 rental income rises to RM13m
JOHOR BHARU: Industrial REIT AME Real Estate Investment Trust (AME REIT) delivered a 4.6% growth in rental income to RM13.1 million for the fourth quarter ended March 31, 2025 (Q4'25) from RM12.5 million in the previous corresponding quarter. The higher rental income supported a 1.6% increase in net property income (NPI) to RM11.6 million compared to RM11.4 million previously. The improved performance was mainly driven by income contributions from the acquisitions of two fully-leased industrial properties during Q4'25. For the 12 months ended March 31, 2025 (FY25), AME REIT generated total rental income of RM50.9 million, a 6% increase from RM48 million in the previous year, and NPI of RM46.4 million, rising 4.5% from RM44.4 million previously. AME REIT, in a statement said it will distribute RM9.7 million in distributable income for Q4'25, equivalent to a distribution per unit (DPU) of 1.83 sen. The distributable income is adjusted for gain in fair value of investment properties less deferred tax expenses, unbilled lease income receivables, management fees payable in units, and amortisation of capitalised financing costs. The Q4'25 income distribution is payable on May 30, 2025 to unitholders whose names appear in the Record of Depositors of AME REIT at the close of business on May 9, 2025. Total income distribution for FY25 will amount to RM39.2 million, representing 99.99% of distributable income for the year and resulting in a DPU of 7.43 sen. I REIT Managers Sdn Bhd CEO and executive director Chan Wai Leo said: 'AME REIT's Q4'25 performance reflects the positive impact of our accretive acquisitions, supporting stable rental income growth and consistent returns to unitholders. Our growth will be further fuelled by the ongoing purchase of five more fully-leased industrial properties in Iskandar Malaysia for a total purchase consideration of RM147.8 million from our sponsor AME Elite Consortium Bhd. The acquisitions, comprising 460,267 sq ft of ALA, are expected to be completed in phases between the third quarter of 2025 and the first quarter of 2026.' Going forward, he added they are focused on continued expansion in the Malaysian industrial property market to optimise sustainable long-term returns. AME REIT's portfolio includes 39 properties — 36 industrial units with 2.1 million sq ft of lettable space, and 3 industrial-related assets. Most are located in AME Group's industrial parks in Iskandar Malaysia. As at March 31, 2025, AME REIT's properties under management are valued at RM773.5 million.
Yahoo
06-03-2025
- Business
- Yahoo
Guan Eng: Allocate RM1 to non-bumis for every RM10 to bumis for more equitable budgets
KUALA LUMPUR, March 6 — DAP national chairman Lim Guan Eng has urged policymakers to adopt a balanced and fact-based approach to budget allocations, proposing that non-bumiputeras receive RM1 for every RM10 allocated to bumiputeras. In a statement today, Lim criticised divisive sentiments surrounding his suggestion and called for economic policies that prioritise national unity. 'Political parties serious about nation-building should focus on unity and facts, rather than stirring extremism over budget allocations for non-bumis,' he said, adding that such divisive tactics are typically employed by opposition parties but should not come from the ruling government. Lim highlighted the disparity in allocations under the 2022 Budget, where bumiputeras received RM11.4 billion compared to RM345 million for non-bumiputeras, amounting to only 3 per cent of the total. 'This mere 3 per cent is grossly unfair and inadequate, especially when non-bumis are significant contributors to nation-building as taxpayers and a vital part of the workforce,' he said. Lim argued that his proposal does not reduce allocations for bumiputeras but instead ensures a more equitable distribution. He said non-bumiputeras would receive 9 per cent of the total sum allocated, leaving 91 per cent untouched for bumiputeras. 'For example, if bumis are allocated RM12 billion, then non-bumis should receive RM1.2 billion. This RM1.2 billion does not come out of the bumis' RM12 billion, which remains intact,' he explained. Citing the Statistics Department's Poverty in Malaysia 2022 Report, Lim acknowledged that the majority of those living in poverty are bumiputeras, with an absolute poverty rate of 7.9 per cent compared to 1.9 per cent for Chinese and 5.4 per cent for Indians. 'This disparity justifies allocating 10 times more to bumis compared to non-bumis, which exceeds the poverty disparity of 4.2 times between bumis and Chinese,' he said. Lim also noted that in terms of absolute poverty, bumiputeras make up 85.2 per cent of households affected, compared to 14.8 per cent for non-bumiputeras. He argued that the current allocation of 33 times more for bumis than non-bumis should be revised to 10 times, which would be more equitable while still addressing poverty among bumiputeras. 'The moral imperative to redress poverty among bumis should not come at the expense of depriving other citizens of their just dues,' he added. Lim's proposal comes amid ongoing discussions about economic equity and fairness in budget distributions.
