Latest news with #RM12.2mil
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
22-05-2025
- Business
- The Star
Sunway expects positive property outlook amid strong 1Q25 profit growth
PETALING JAYA: Sunway Bhd expects the outlook for the property market in Malaysia and Singapore remain positive. In a filing with Bursa Malaysia, the company said the emergence of Johor as a prominent hub for industrial and data centre investments underscored its growing importance to Malaysia's economic position in the region. 'The Johor-Singapore Special Economic Zone creates new opportunities for Malaysia to attract more investments, reinforcing Johor's role as a strategic gateway to South-East Asia.' For the first quarter ended March 31, 2025 (1Q25), Sunway's net profit rose to RM190.55mil from RM172.23mil in the previous corresponding quarter, while revenue in 1Q25 grew to RM2.37bil from RM1.42bil a year earlier. Sunway said its revenue was higher in the current quarter mainly due to higher contributions from all business segments, except for the property development segment. 'As a result, pre-tax profit in the current quarter was also higher, despite lower profit contributions from property development, healthcare and others segments.' Sunway said its property development segment reported revenue of RM263.3mil and pre-tax profit of RM33.4mil for the current quarter, compared to revenue of RM287.7mil and pre-tax profit of RM38.8mil in the corresponding quarter of the previous financial year, representing a decrease in revenue of 8.5% and pre-tax profit of 14%. 'The lower financial performance in the current quarter was attributed to lower progress billings from local and overseas development projects. 'It should be noted that in compliance with MFRS 15, the development profits from one of the group's ongoing Singapore property development projects will only be recognised upon completion and handover of the project.' As a result, Sunway said the accumulated progressive profits of this project at the end of the current quarter of RM12.2mil was not recognised. Meanwhile, the group's construction segment reported revenue of RM1.24bil and pre-tax profit of RM114.5mil for the current quarter, compared to revenue of RM372.5mil and pre-tax profit of RM42.4mil in the corresponding quarter of the previous financial year, representing a notable increase in revenue of 232.4% and pre-tax profit tax of 170.4%. 'The higher revenue and pre-tax profit in the current quarter were mainly due to contributions from the accelerated progress of data centre projects,' it said. As for the group's healthcare segment, it reported a share of net profit of RM31.8mil in the current quarter compared to RM36.8mil in the corresponding quarter of the previous financial year, representing a decrease of 13.6%. 'The decline was mainly due to a share of RM11.7mil in combined start-up operational losses from the newly opened Sunway Medical Centre (SMC) Damansara and pre-commencement costs from SMC Ipoh, which commenced operations in April 2025. 'Excluding these costs, the healthcare segment delivered improved performance driven by stronger operational results from SMC Sunway City, SMC Velocity, and SMC Penang.' Sunway said this growth was attributed to higher number of patients and additional licensed beds within the healthcare group compared to the corresponding quarter of the previous financial year.
The Star
05-05-2025
- Business
- The Star
Adding to charm of Kg Sungai Melayu
Kampung Sungai Melayu is known for Malay cuisine and river-based leisure activities. — Photos: THOMAS YONG/The Star RM12.2mil upgrade for Kota Iskandar fishing village part of preparations for Visit Johor 2026 Johor government is investing RM12.2mil to turn Kampung Sungai Melayu into a major tourist destination in time for Visit Johor 2026 (VJ2026), says Iskandar Puteri assemblyman Datuk Pandak Ahmad. He said the fishing village was already a popular weekend spot, known especially for its asam pedas dish and mangroves. 'We are upgrading the area in two phases, with work expected to wrap up by February next year. 'The upgrades include additional parking bays, jetty, concrete boardwalk, cultural walkway and a range of other tourist-friendly amenities,' he said when met at the village. Located about 20 minutes from Kota Iskandar, Kampung Sungai Melayu is also known for its river-based leisure activities such as fishing, boat tours and crab catching. Pandak showing a rendering of an upcoming development at the village located near Kota Iskandar. Pandak said the village was selected as one of the key tourism attractions for VJ2026, thanks to its growing popularity with visitors from China, Japan and South Korea. 'More than 100,000 tourists have visited the village since it became an eco-tourism hub in 2018,' he said. 'We are expecting at least 10,000 visitors next year.' One of the highlights of the upgrading project is a new village archway completed at a cost of RM500,000. Pandak said a 1.2ha parking facility costing RM3mil, meanwhile, was designed to accommodate the expected rise in visitor numbers. Shuttle buses will also be provided to help tourists move around more easily. 'We are also building facilities such as trading spaces, an information centre, electric vehicle parking bays and recreational areas. 'All of these additions are aimed at boosting economic opportunities for the village's 800 residents while enhancing the overall visitor experience,' said Pandak.
