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New Straits Times
2 days ago
- Sport
- New Straits Times
Thai golfers dominate Maybank Championship qualifiers
KUALA LUMPUR: Thailand displayed the immense strength in depth they possess in women's golf after sweeping all five qualifying slots at the Maybank Championship Asean qualifiers today. Kritchanya Kaopattanaskul topped the standings after carding a two-day seven-under 137 at the Kuala Lumpur Golf and Country Club in Bukit Kiara. Achiraya Sriwong (five-under 139) and Namo Luangnitikul (even-par 144) rounded out a top three comprised of amateur players. Cholcheva Wongras (two-over 146) and Kan Bunnabodee were joint-fourth, claiming the remaining two qualifying slots. It was, however, not to be for Malaysian duo Ng Jing Xuen and Genevieve Ling who finished just one stroke behind. The duo shared sixth spot on three-over 147. The soft-spoken Kritchanya, who is only 17, was all smiles after booking her slot in the Maybank Championship tournament proper on Oct 30-Nov 2. "Of course I am really happy to secure my place in the Maybank Championship in October," said Kritchanya. "This is the first time I have competed outside of Thailand so it is very special for me. "I had a lot of fun here as I was also able to sink a hole-in-one yesterday (hole four)." Jing Xuen, also 17, took the result in her stride. "Yesterday (Aug 12) was a bit more hectic but I am pleased to be able to come back today," said Jing Xuen, who claimed gold at the 2023 Phnom Penh Sea Games. "I'd say my putting was really good today, it was just that my risk management was a little bit off. "In the end I was just one shot off (qualifying) but I guess that is just golf for you. I accept it and will keep working harder." Only the top-five finishers booked their spots in the US$3 million (RM12.7 million) showpiece, which returns for its third edition as the richest LPGA Tour stop in Asia. Earning a place in the elite 78-player field guarantees a minimum payout of approximately US$5,400 (RM22,720) as the tournament is a no-cut event.
New Straits Times
4 days ago
- Business
- New Straits Times
HLIB keeps HOLD on DRB-Hicom despite positive aerospace deal
KUALA LUMPUR: Hong Leong Investment Bank (HLIB) is maintaining its HOLD call on DRB-Hicom Bhd with an unchanged target price of 85 sen, reflecting a 25 per cent discount to its sum-of-the-parts (SOTP) valuation of RM1.11. While HLIB views the group's latest aerospace acquisition positively, it remains cautious on the automotive segment amid stiff competition, noting continued drag from Pos Malaysia Bhd and defence arm Deftech. These headwinds, however, are partially offset by stable contributions from Bank Muamalat and aerospace subsidiary Composites Technology Research Malaysia Sdn Bhd (CTRM). CTRM has signed a conditional agreement to acquire Spirit AeroSystems Malaysia Sdn Bhd for US$95.2 million (RM446 million) from US-based Spirit AeroSystems, Inc. and Spirit AeroSystems International Holdings, Inc. "We are positive with the acquisition, as Spirit AeroSystems Malaysia's stable earnings are expected to complement CTRM's operations and strengthen DRB-Hicom's overall financial performance," HLIB said in a note. HLIB said the indicative price-to-earnings (P/E) multiple of 7.0x is in line with DRB-Hicom's projected 7.4x for FY2026 and 5.4x for FY2027. "The deal is expected to yield a negative goodwill gain of RM223.2 million, while CTRM will eliminate RM12.7 million in profits related to unsold inventory." The investment bank added that post-acquisition, annual earnings could rise by about RM45 million, equivalent to 21.5 per cent of FY2025 and 15.4 per cent of FY2026 earnings. DRB-Hicom said the acquisition will give CTRM greater scale, technical capabilities, and supply chain leverage, enabling it to compete more aggressively in the global aerospace market while strengthening relationships with major OEMs, including Airbus (A220, A320, A350) and Boeing (737, 787). Spirit AeroSystems Malaysia, based in Subang, produces advanced aerostructures and provides engineering, supply chain, and shared services for Airbus and Boeing programmes. For FY2024, it recorded a pre-tax profit of RM70.1 million and net assets of RM770.5 million. With both Airbus and Boeing projecting rising aircraft deliveries this decade, DRB-Hicom believes the enlarged CTRM will be well-positioned to capture growing aerospace demand, diversify revenue streams, and boost operational efficiency.
New Straits Times
23-05-2025
- Politics
- New Straits Times
Judge blocks Trump administration from revoking Harvard enrollment of foreign students
BOSTON: A US judge today blocked the Trump administration from revoking Harvard University's ability to enroll foreign students, a move that ratcheted up White House efforts to conform practices in academia to President Donald Trump's policies. In a complaint filed in Boston federal court filed earlier today, Harvard called the revocation a "blatant violation" of the US Constitution and other federal laws, and had an "immediate and devastating effect" on the university and more than 7,000 visa holders. "With the stroke of a pen, the government has sought to erase a quarter of Harvard's student body, international students who contribute significantly to the University and its mission," Harvard said. "Without its international students, Harvard is not Harvard," the 389-year-old school added. US District Judge Allison Burroughs, an appointee of Democratic President Barack Obama, issued the temporary restraining order freezing the policy. Trump's pressure on Harvard is part of the Republican's broader campaign to compel universities, law firms, news media, courts and other institutions that value independence from partisan politics to align with his agenda. The campaign has included efforts to deport foreign students who participated in pro-Palestinian protests but committed no crimes, retaliate against law firms that employ lawyers who have challenged Trump, and a suggestion by Trump to impeach a judge for an immigration ruling the president didn't like. Harvard, based in Cambridge, Massachusetts, has pushed back hard against Trump, having previously sued to restore some US$3 billion (RM12.7 billion) in federal grants that had been frozen or canceled. Law firms including WilmerHale and Susman Godfrey have also sued, while US Chief Justice John Roberts said impeaching judges is not an appropriate response to disagreement with their rulings. Some institutions have made concessions to Trump. Columbia University agreed to reform disciplinary processes and review curricula for courses on the Middle East, after Trump pulled US$400 million in funding over allegations the Ivy League school had not done enough to combat antisemitism. Meanwhile, law firms such as Paul, Weiss and Skadden Arps agreed to provide free legal services to causes Trump supports. In a statement before Burroughs' ruling, White House spokesperson Abigail Jackson dismissed the lawsuit. "If only Harvard cared this much about ending the scourge of anti-American, anti-Semitic, pro-terrorist agitators on their campus they wouldn't be in this situation to begin with," Jackson said. "Harvard should spend their time and resources on creating a safe campus environment instead of filing frivolous lawsuits," she added. The termination of Harvard's Student and Exchange Visitor Program certification, effective with the 2025-2026 academic year, was announced by Homeland Security Secretary Kristi Noem. She said the termination was justified because of Harvard's "fostering violence, antisemitism, and coordinating with the Chinese Communist Party." In a letter to Harvard, which was attached to the complaint, Noem said the information was needed because the university had "created a hostile learning environment for Jewish students due to Harvard's failure to condemn antisemitism." On Thursday, Noem said Harvard could restore its certification by turning over within 72 hours a raft of records about international students, including video or audio of their protest activity in the past five years. HARVARD DEFENDS 'REFUSAL TO SURRENDER' Homeland Security's justification is "the quintessence of arbitrariness," Harvard said in its complaint. In a letter to the Harvard community today, Garber condemned the administration's actions and said Harvard responded to Homeland Security Department requests as required by law. "The revocation continues a series of government actions to retaliate against Harvard for our refusal to surrender our academic independence and to submit to the federal government's illegal assertion of control over our curriculum, our faculty, and our student body," Garber wrote. Harvard enrolled nearly 6,800 international students in its current school year, equal to 27 per cent of total enrollment. In its complaint, Harvard said the revocation would force it to retract admissions for thousands of people, and has thrown "countless" academic programs, clinics, courses and research laboratories into disarray, just a few days before graduation.
Yahoo
21-02-2025
- Business
- Yahoo
MN Holdings Announces Strongest-Ever Profit After Tax of RM12.7 Million in Q2 FY2025
KUALA LUMPUR, MALAYSIA / / February 20, 2025 / MN Holdings Berhad ("MN Holdings" or the "Group"), a leading infrastructure utilities construction and engineering solutions specialist in Malaysia, is pleased to announce the financial results for the second quarter ended 31 December 2024 ("Q2 FY2025") with a record Profit After Tax ("PAT") of RM12.7 million; a significant jump of 217% as compared to the same period last year. For Q2 FY2025, MN Holdings recorded a 68% increase in revenue to RM125.5 million, compared with RM74.9 million in Q2 FY2024. The underground utilities engineering segment saw revenue surge by 128% to RM60.0 million from RM26.3 million in Q2 FY2024. Meanwhile, the substation engineering segment contributed RM65.0 million, representing 52% of total revenue, marking a strong 34% growth from RM48.6 million in the corresponding quarter last year. Profit before tax ("PBT") for the quarter surged by 204% to RM17.3 million, compared to RM5.7 million a year ago, driven by enhanced project execution and higher revenue recognition. PAT jumped tripled to RM12.7 million, from RM4.0 million in the same period last year. The higher profitability was boosted by improved margins from higher value projects, despite slightly higher administrative expenses and impairment provisions. Compared to the preceding quarter ("Q1 FY2025"), MN Holding's Q2 FY2025 revenue grew by 22% from RM103.1 million to RM125.5 million. This growth was mainly attributed to the substation engineering segment, which registered a 32% increase, from RM49.1 million in Q1 FY2025 to RM65.0 million in Q2 FY2025, supported by accelerated project execution. In tandem with revenue growth, PBT improved by 75% to RM17.3 million, compared to RM9.9 million in Q1 FY2025, while PAT rose by 81% from RM7.0 million to RM12.7 million. Excluding one-off adjustments, adjusted PBT stood at RM18.8 million, reflecting a 46% increase quarter-on-quarter. The strong profitability was driven by better project margins and operational efficiency in handling large-scale infrastructure works. For the first half of the financial year ("1H FY2025"), the Group's cumulative revenue reached RM228.6 million, marking a 76% increase from RM130.1 million in the same period last year. The underground utilities engineering segment revenue expanded by 123% to RM114.5 million from RM51.4 million while the substation engineering segment generated RM114.1 million, a 45% growth from RM78.7 million in 1H FY2024. PBT for 1H FY2025 rose by 142% to RM27.2 million, from RM11.2 million in 1H FY2024, supported by higher gross profit, despite increased administrative expenses and impairment losses on financial assets. Correspondingly, PAT surged by 140% to RM19.7 million, from RM8.2 million in 1H FY2024. The Group's profitability continued to improve, driven by stronger revenue growth and disciplined cost management. As at 20 February 2025, MN Holdings' order book stood at RM665.3 million, providing strong earnings visibility for the next two to three financial years. The Group remains well-positioned to capitalise on Malaysia's ongoing infrastructure development and energy transition, particularly in renewable energy, data centres, and water utilities. Dato' Clement Toh, Managing Director of MN Holdings said, "The growth momentum from our underground utilities and substation engineering projects reflects our execution capabilities and the strength of our order book. With increasing investments in infrastructure and power distribution, we remain optimistic about our ability to drive long-term and sustainable earnings growth." He added, "Malaysia's data centre market is expanding rapidly, with major global players investing in large-scale facilities, driving demand for power distribution infrastructure. Meanwhile, government initiatives such as LSS5+ Petra for solar energy and the RM10 billion AIR 2040 programme for water infrastructure upgrades present significant opportunities for us. Leveraging our expertise, we are well-positioned to support these developments and capitalise on the industry's growing demand." MN Holdings remains focused on strengthening its foothold in key infrastructure sectors, ensuring continued revenue growth and profitability in the coming quarters. About MN Holdings Berhad ("MN Holdings") Established in 2007, MN Holdings Berhad ("MN Holdings" or the "Group") is a leading solutions provider in infrastructure utilities construction, specialising in underground utilities and power infrastructure in Malaysia. Expanding into substation engineering in 2012, the Group offers construction, integration, and maintenance services for electrical power systems. The Group also partners with global manufacturers to distribute power control systems and substation components, reinforcing its commitment to delivering comprehensive engineering solutions with the expertise, workforce, and machinery to support critical infrastructure projects. For more information, visit Issued By: Swan Consultancy Sdn. Bhd. on behalf of MN Holdings Berhad For more information, please contact: Jazzmin WanEmail: Xinyi ChingEmail: SOURCE: MN Holdings Berhad View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
17-02-2025
- Yahoo
Shoplifting, voyeurism cases see uptick in Singapore in 2024; molestation cases decline
SINGAPORE, Feb 17 — Shoplifting and voyeurism cases surged in 2024, according to the latest statistics from the Singapore Police Force (SPF), released on February 17. Shop theft incidents reached 4,237 cases last year, marking a 7.6 per cent increase from 3,939 in 2023, and a sharp rise from 2,652 cases in 2021, according to a report published in Channel News Asia today. Shoplifting now accounts for 21.2 per cent of all physical crime in the city-state. Despite the rise in shop thefts, the total number of physical crime cases remained stable in 2024, with 19,969 reported, slightly down from 19,966 in the previous year. Shoplifting was flagged by the police as one of the top three crimes of concern, alongside voyeurism and molestation. Voyeurism saw a 9 per cent increase in 2024, while molestation cases dropped. Cases of theft in residential buildings, a concern in 2023, also declined. Housebreaking and theft cases fell from 135 in 2023 to 118 in 2024, despite a brief spike during a series of burglaries believed to be linked to foreign syndicates. Between June and August, a rash of burglaries in private estates near the Rail Corridor and Bukit Timah Road led to stolen jewellery valued at S$3.85 million (RM12.7 million). Following the incidents, increased patrols and mobile camera deployments helped reduce housebreaking and theft. Shoplifting remained a primary offence among youths, with 379 individuals aged 10 to 19 arrested in 2024, making up 20.9 per cent of total shop theft arrests. Most cases involved theft from supermarkets, beauty shops, and personal care stores. Commonly stolen items included cosmetics, food, and personal care products. Major outlets like NTUC FairPrice, Cold Storage, and Watsons were among the top locations for shoplifting incidents. Experts believe the rise in shoplifting could be linked to the increased use of CCTV and facial recognition technology by retailers, helping to better identify and apprehend offenders. The SPF has been working closely with retailers under the Shop Theft Awareness for Retailers (STAR) programme. 'This expansion demonstrates the growing commitment among retailers to participate in collaborative efforts to address shop theft and strengthen their retail security measures,' said SPF. By December 2024, over 1,000 outlets, including FairPrice Group and Sephora, joined the initiative to strengthen security measures and prevent theft. Voyeurism cases, including upskirt offences, saw a 9 per cent increase, reaching 519 cases in 2024. These incidents were predominantly committed in residential premises, shopping malls, and on public transport. Of the voyeurism cases in homes, 76.5 per cent involved perpetrators known to the victims, such as ex-boyfriends or family members. To combat these offences, the SPF introduced advisory messages at MRT stations and installed privacy partitions in public toilets. The police have also collaborated with the Restroom Association of Singapore (RAS) to enhance security in public restrooms. Meanwhile, molestation cases fell by 6.6 per cent to 1,427 incidents in 2024. Despite the drop, molestation remains a concern, accounting for 7.1 per cent of all physical crime cases. The SPF has continued to raise awareness and work with stakeholders to reduce crime in public entertainment venues. Senior Assistant Commissioner Gregory Tan noted that the stable physical crime rate in Singapore was largely due to the support of the community and technological advancements, which have boosted the ability to solve crimes. 'With these advancements, culprits will be caught and brought to justice,' Tan stated.
