Latest news with #RM123
The Sun
6 days ago
- Business
- The Sun
Negeri Sembilan seeks state funding for cooperatives in 2026 budget
NEGERI SEMBILAN: The state government will request funding for cooperative development in the 2026 Budget, announced State Health, Environment, Cooperatives and Consumerism Action Committee chairman S. Veerapan. Currently, no state funds are allocated for cooperatives, with financial support coming solely from the Federal Government via the Malaysian Cooperative Commission (SKM). Veerapan highlighted that Melaka, despite its smaller size and lower revenue, allocates state funds to SKM Melaka. 'We intend to follow that example,' he said during the Business Exploration and Networking Programme (Ekspansi) in Melaka, held in conjunction with National Cooperative Day 2025. The initiative aims to strengthen existing cooperatives in Negeri Sembilan, which had 787 registered cooperatives as of December 31 last year. These cooperatives boast 192,000 members, RM123 million in shares, RM404 million in assets, and RM187 million in revenue. Veerapan added that his team will gather detailed funding requirements from SKM Negeri Sembilan before presenting the proposal in the state budget consultation session this September. At the event, a Memorandum of Understanding (MoU) was signed between Koperasi Gabungan Masjid-Masjid Negeri Melaka (Kogmas) and Koperasi Kolej Vokasional Port Dickson, facilitating bottled mineral water supply from Kogmas to the latter. - Bernama
Barnama
6 days ago
- Business
- Barnama
Negeri Sembilan To Request State Funding For Cooperatives In 2026 Budget
MELAKA, July 26 (Bernama) -- A request for funding will be made to the state government for the development of cooperatives in Negeri Sembilan as part of the 2026 Budget, said State Health, Environment, Cooperatives and Consumerism Action Committee chairman, S. Veerapan He said to date, no funds have been allocated by the state government for cooperative development in Negeri Sembilan. Instead, the funding received has come from the Federal Government through the Malaysian Cooperative Commission (SKM) state branch. "This is important because, in Melaka, despite being a smaller state with lower revenue than Negeri Sembilan, the state government allocates funding to SKM Melaka. We intend to follow that example," Veerapan told Bernama. He added that the state government's support is essential to ensure that cooperatives in Negeri Sembilan benefit and strengthen the development of existing cooperatives. Veerapan said this after attending the Business Exploration and Networking Programme (Ekspansi), organised by the Negeri Sembilan government with cooperatives from the state, Sarawak, and Sabah. The event, held in Melaka for National Cooperative Day 2025, was also attended by SKM Negeri Sembilan director, Radiatul Fitri Dollah. Veerapan further said that his team would gather more details from SKM Negeri Sembilan regarding the funding needs for cooperative development in the state. This information will be proposed and discussed during the upcoming 2026 State Budget consultation session, expected to take place in September. As of Dec 31 last year, Negeri Sembilan had 787 registered cooperatives, with nearly 192,000 members. The cooperatives had accumulated shares totaling RM123 million, assets worth RM404 million, and a total revenue of RM187 million Earlier at the event, Veerapan witnessed the signing of a Memorandum of Understanding (MoU) between Koperasi Gabungan Masjid-Masjid Negeri Melaka (Kogmas), represented by its chairman Zaidan Abd Hadi, and Koperasi Kolej Vokasional (KV) Port Dickson represented by its director Mohammad Shafie Hamir.
New Straits Times
23-07-2025
- Business
- New Straits Times
Investor caution pressures Bursa, but mega IPO could lift sentiment
KUALA LUMPUR: The prolonged caution among investors driven by ongoing trade and monetary policy uncertainties is expected to weigh on Bursa Malaysia's performance, dampening overall trading activity. RHB Research said the continued uncertainty will keep securities market prospects dampened and prolong risk-off investor behaviour. The firm believes that the derivatives market could also soften ahead in tandem with an expected half-on-half (HoH) softening in crude palm oil (CPO) prices. "Encouragingly, we gather that an initial public offering (IPO) deal carrying about RM30 billion market capitalisation—potentially the biggest ever IPO in Malaysia—is currently in the works and could be completed as soon as late third quarter (Q3) 2025. "On top of slightly lifting Bursa's non-trading revenue, this could also provide a boost to securities average daily value (SADV) should there be sufficient and sustained investor interest," it said. Meanwhile, RHB Research said Bursa Malaysia is scheduled to release its Q2 2025/first half of 2025 (1H25) financial results on July 29. As sequentially soft securities and derivatives indicators point towards a soft Q2 2025 overall, the firm said Bursa's 1H25 results could either underperform or just meet consensus' estimates. "We estimate Bursa could post a Q2 2025 net profit in the range of RM55 to RM65 million, bringing the 1H25 sum to RM123 million to RM133 million, a decline of 14-21 percent year-on-year (YoY) and 45-49 per cent YoY of consensus' financial year 2025 (FY25) profit after tax, zakat, and minority interest (PATAMI)," it said. RHB Research's unofficial forecast is premised on a sequential 10 per cent drop in total revenue due to weaker SADV and derivatives average daily volume (DADC) indicators and a higher cost-to-income ratio (CIR) of 52 per cent given the softer income generation. Overall, the firm expects Bursa to declare an interim dividend per share (DPS) in the range of 14-15 sen on a 90 per cent dividend payout ratio (DPR) assumption—a decline from the 18 sen/94 per cent DPS/DPR declared in 1H24. The firm has maintained a Neutral rating on Bursa Malaysia, raising its target price to RM8.05 from RM7.70 previously.
New Straits Times
22-07-2025
- New Straits Times
Only RM123,000 recovered from RM1mil man tried to burn during MACC raid
KUALA LUMPUR: Only RM123,000 of nearly RM1 million in cash — allegedly burnt by a construction company project manager during a raid by graft busters last week — has been recovered. Malaysian Anti-Corruption Commission (MACC) Investigations Senior Director Datuk Zainul Darus confirmed this when contacted today. "We managed to recover RM123,000. The rest of the cash was burnt. "To date, we have seized at least RM7.7million in connection with this probe. This value includes the RM123,000 recovered," he said, adding that they have recorded statements from 20 people to facilitate further investigations.
New Straits Times
22-07-2025
- New Straits Times
MACC: Only RM123,000 recovered from burnt cash
KUALA LUMPUR: Only RM123,000 of nearly RM1 million in cash — allegedly burnt by a construction company project manager during a raid by graft busters last week — has been recovered. Malaysian Anti-Corruption Commission (MACC) Investigations Senior Director Datuk Zainul Darus confirmed this when contacted today. "We managed to recover RM123,000. The rest of the cash was burnt. "To date, we have seized at least RM7.7million in connection with this probe. This value includes the RM123,000 recovered," he said, adding that they have recorded statements from 20 people to facilitate further investigations.
