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Borneo Post
4 days ago
- Business
- Borneo Post
Sarawak's Reach Ten posts RM7.1 million for 1QFY25, declares maiden dividend
Looking ahead, Reach Ten said the company remains upbeat about its outlook, supported by sustained growth in Malaysia's telecommunications sector. KUCHING (May 30): Newly listed Sarawakian telecommunications provider Reach Ten Holdings Berhad (Reach Ten) recorded a net profit of RM7.1 million on revenue of RM23.1 million for its first quarter results for the period ended March 31, 2025 (1QFY25). The results only cover February and March, following the completion of its subsidiaries' merger on February 5. For the two-month period, Reach Ten garnered an earnings per share of 0.89 sen. Gross profit stood at RM11.5 million, translating to a gross margin of 49.7 per cent. It also declared its first ever interim single-tier dividend of 1.0 sen per share for the financial year ending December 31, 2025 (FY25). The company in a statement today said the RM10 million payout will be made on July 21, 2025 to shareholders listed in the Record of Depositors as of June 30, 2025. Managing director Leo Chin said the dividend reflects the Company's commitment to deliver shareholder value, in line with its policy to distribute up to 30 per cent of net profit. 'With healthy cash and bank balances, as well as fixed deposits of RM63 million, Reach Ten aims to maintain a balanced approach between rewarding shareholders through dividend distributions and retaining sufficient capital to support future growth and strategic initiatives,' he said. Leo Chin The company said its strong margin was supported by the completion of service scopes under the VSAT broadband project in FY24 and continued extensions of the project this year. 'Revenue for the quarter was mainly driven by its satellite-based communication networks and services segment, which contributed 63.2 per cent of total revenue. 'Fibre optic communication networks and services accounted for 21.4 per cent, while telecommunications infrastructure and managed services contributed 15.4 per cent,' it added. There are no comparative figures from the same period last year as this is the company's second interim financial report following its Main Market listing on May 2. Chin added that the figures reflect only two months of post-merger performance, and that on a full-quarter basis, revenue and net profit would have been RM28.4 million and RM8.2 million respectively. Looking ahead, Reach Ten said the company remains upbeat about its outlook, supported by sustained growth in Malaysia's telecommunications sector. National broadband coverage in populated areas has reached 97.28 per cent, pointing to steady demand for connectivity. Sarawak has also experienced consistent growth, reinforcing the region's long-term potential. 'We remain confident in our growth trajectory, supported by rising demand for digital connectivity, favourable government policies, and continued infrastructure expansion. 'Our focus on underserved markets, especially in Sarawak, positions us well to capture future opportunities and deliver long-term shareholder value,' added Chin.
The Sun
16-05-2025
- The Sun
Customs dept seizes RM13m worth of drugs after crippling distribution syndicate
NILAI: The Royal Malaysian Customs Department (JKDM) dismantled a drug distribution syndicate and seized various types of drugs, including heroin, ketamine and cannabis, weighing 145 kilogrammes (kg) and worth an estimated RM13 million, over a two-month period. Its assistant director-general (Enforcement), Raizam Setapa@Mustapha, said the operation was conducted in Batu Caves, Salak Selatan, Sentul and Subang Jaya and at the Kuala Lumpur International Airport (KLIA) Cargo. He said his team, detected the use of moving services was one of the new modus operandi used to smuggle drugs, when it inspected a mover company's warehouse in Batu Caves on April 10. 'The team seized 90 boxes of various sizes in the said warehouse, and found 344 compressed blocks of suspected heroin, weighing 122.85 kg and worth RM11.5 million, inside four boxes containing modified speakers to be sent to Australia, while the remaining 86 boxes contained household items,' he told reporters at a press conference at the JKDM Narcotics branch in Kampung Jijan here today. Raizam said that this case is the first time it detected a drug syndicate using mover services to send goods using containers to Port Klang. In a separate case, Raizam said that on May 13 at about 9.45 pm, a team of officers along with detection dogs (K9) from the JKDM Narcotics branch inspected three boxes of goods at a logistics company's warehouse at the KLIA Cargo. He said they found five transparent plastic bags containing white crystal powder suspected to be methamphetamine, with an estimated weight of 5,105 grammes (gms) and valued at RM163,360, hidden among safety boots for export abroad. Meanwhile, on April 3, a raid at a condominium in Salak Selatan uncovered 5,000 gms of MDMA (methylenedioxy-methamphetamine) worth an estimated RM835,000. Following that, another raid at a condominium in Sentul, Kuala Lumpur, found 6,176 gms of ketamine and 763 gms of cannabis, worth RM311,165.50. According to him, the modus operandi involved using air courier services to import drugs into the country, and a local male suspect was arrested and charged in court. Meanwhile, on April 10, the team found 5,106 gms of suspected methamphetamine crystal powder worth RM163,392 when raiding a courier company's premises in Subang Jaya. 'The discovery of the drugs was the result of inspecting a parcel containing footwear. The syndicate's modus operandi was to hide drugs inside modified footwear for export via air courier services. Following that, a local male suspect was arrested and charged in court,' he said, adding that all cases are being investigated under Section 39B(1)(a) of the Dangerous Drugs Act 1952.
The Sun
16-05-2025
- The Sun
Customs seizes RM13 million worth of drugs, dismantles syndicate
NILAI: The Royal Malaysian Customs Department (JKDM) dismantled a drug distribution syndicate and seized various types of drugs, including heroin, ketamine and cannabis, weighing 145 kilogrammes (kg) and worth an estimated RM13 million, over a two-month period. Its assistant director-general (Enforcement), Raizam Setapa@Mustapha, said the operation was conducted in Batu Caves, Salak Selatan, Sentul and Subang Jaya and at the Kuala Lumpur International Airport (KLIA) Cargo. He said his team, detected the use of moving services was one of the new modus operandi used to smuggle drugs, when it inspected a mover company's warehouse in Batu Caves on April 10. 'The team seized 90 boxes of various sizes in the said warehouse, and found 344 compressed blocks of suspected heroin, weighing 122.85 kg and worth RM11.5 million, inside four boxes containing modified speakers to be sent to Australia, while the remaining 86 boxes contained household items,' he told reporters at a press conference at the JKDM Narcotics branch in Kampung Jijan here today. Raizam said that this case is the first time it detected a drug syndicate using mover services to send goods using containers to Port Klang. In a separate case, Raizam said that on May 13 at about 9.45 pm, a team of officers along with detection dogs (K9) from the JKDM Narcotics branch inspected three boxes of goods at a logistics company's warehouse at the KLIA Cargo. He said they found five transparent plastic bags containing white crystal powder suspected to be methamphetamine, with an estimated weight of 5,105 grammes (gms) and valued at RM163,360, hidden among safety boots for export abroad. Meanwhile, on April 3, a raid at a condominium in Salak Selatan uncovered 5,000 gms of MDMA (methylenedioxy-methamphetamine) worth an estimated RM835,000. Following that, another raid at a condominium in Sentul, Kuala Lumpur, found 6,176 gms of ketamine and 763 gms of cannabis, worth RM311,165.50. According to him, the modus operandi involved using air courier services to import drugs into the country, and a local male suspect was arrested and charged in court. Meanwhile, on April 10, the team found 5,106 gms of suspected methamphetamine crystal powder worth RM163,392 when raiding a courier company's premises in Subang Jaya. 'The discovery of the drugs was the result of inspecting a parcel containing footwear. The syndicate's modus operandi was to hide drugs inside modified footwear for export via air courier services. Following that, a local male suspect was arrested and charged in court,' he said, adding that all cases are being investigated under Section 39B(1)(a) of the Dangerous Drugs Act 1952.
Barnama
16-05-2025
- Barnama
Customs Dept Seizes RM13 Mln Worth Of Drugs After Crippling Distribution Syndicate
NILAI, May 16 (Bernama) -- The Royal Malaysian Customs Department (JKDM) dismantled a drug distribution syndicate and seized various types of drugs, including heroin, ketamine and cannabis, weighing 145 kilogrammes (kg) and worth an estimated RM13 million, over a two-month period. Its assistant director-general (Enforcement), Raizam Setapa@Mustapha, said the operation was conducted in Batu Caves, Salak Selatan, Sentul and Subang Jaya and at the Kuala Lumpur International Airport (KLIA) Cargo. He said his team, detected the use of moving services was one of the new modus operandi used to smuggle drugs, when it inspected a mover company's warehouse in Batu Caves on April 10. 'The team seized 90 boxes of various sizes in the said warehouse, and found 344 compressed blocks of suspected heroin, weighing 122.85 kg and worth RM11.5 million, inside four boxes containing modified speakers to be sent to Australia, while the remaining 86 boxes contained household items," he told reporters at a press conference at the JKDM Narcotics branch in Kampung Jijan here today. Raizam said that this case is the first time it detected a drug syndicate using mover services to send goods using containers to Port Klang. In a separate case, Raizam said that on May 13 at about 9.45 pm, a team of officers along with detection dogs (K9) from the JKDM Narcotics branch inspected three boxes of goods at a logistics company's warehouse at the KLIA Cargo. He said they found five transparent plastic bags containing white crystal powder suspected to be methamphetamine, with an estimated weight of 5,105 grammes (gms) and valued at RM163,360, hidden among safety boots for export abroad. Meanwhile, on April 3, a raid at a condominium in Salak Selatan uncovered 5,000 gms of MDMA (methylenedioxy-methamphetamine) worth an estimated RM835,000. Following that, another raid at a condominium in Sentul, Kuala Lumpur, found 6,176 gms of ketamine and 763 gms of cannabis, worth RM311,165.50. According to him, the modus operandi involved using air courier services to import drugs into the country, and a local male suspect was arrested and charged in court.
