Latest news with #RM13.9mil
The Star
4 days ago
- Business
- The Star
MSC posts lower 2Q earnings
PETALING JAYA: Malaysia Smelting Corp Bhd (MSC) believes that higher energy costs arising from the changes in domestic electricity tariffs will have an effect on the group's performance moving forward. It said it will remain cautious and will continue to emphasise on business competitiveness. Announcing its results for its second quarter ended June (2Q25) to Bursa Malaysia yesterday, MSC said it saw net profit falling 16.6% year-on-year (y-o-y) to RM13.9mil as revenue slid 7.7% to RM379mil. For the six months ended June, net profit was down 38% y-o-y to RM21.7mil, as turnover edged lower by 3.2% to RM748.7mil. Aside from lower sales of refined tin, the group said a one-off additional tax assessment imposed on its mining subsidiary, Rahman Hydraulic Tin Sdn Bhd, was also a factor for the weaker income. MSC has declared a dividend of four sen per share for the quarter.
The Star
4 days ago
- Business
- The Star
MSC posts lower 2Q25 earnings but declares dividend
Malaysia Smelting Corp Bhd group chief executive officer Datuk Dr. Patrick Yong PETALING JAYA: Malaysia Smelting Corp Bhd (MSC) believes that higher energy costs arising from the changes in domestic electricity tariffs will have an effect on the group's performance moving forward. It said it will remain cautious and will continue to emphasise on business competitiveness, operational efficiencies, improvements on operations, technology, manpower, logistics and potential new business developments in its smelting and mining segments. Resulting its results for the second quarter ended June (2Q25) to Bursa Malaysia yesterday, MSC saw net profit fall 16.6% year-on-year (y-o-y) to RM13.9mil, as revenue also slid 7.7% to RM379mil. MSC attributed the lower earnings to lower sales of refined tin and decrease in average tin price of RM139,800 per tonne, which was nevertheless partially offset by higher sales of tin bearing slag and by-products. For the six months ended June, net profit was down 38% y-o-y to RM21.7mil, as turnover edged lower by 3.2% to RM748.7mil. Aside from lower sales of refined tin, the group said a one-off additional tax assessment imposed on its mining subsidiary, Rahman Hydraulic Tin Sdn Bhd was also a factor for the weaker income. MSC declared a dividend of four sen per share for the quarter. Group chief executive officer Datuk Dr. Patrick Yong said the global economic environment remained challenging, shaped by ongoing policy uncertainties, inflationary pressures, and evolving trade dynamics. He noted that although external factors have driven up cost pressures across industries, the group continues to navigate the landscape with prudence and adaptability. 'We remain focused on strengthening our competitiveness through operational improvements, technological adoption, workforce efficiency, and exploring new growth opportunities within our smelting and mining segment.' 'With the Pulau Indah plant now fully operational, our next step is the planned decommissioning of the Butterworth facility. This transition is expected to deliver cost savings and improve overall efficiency, supported by lower energy and manpower requirements, while also aligning with our sustainability goals.' 'In our mining operations, efforts remain centred on boosting daily mining output and overall productivity. This includes expanding our mining footprint, modernised tin processing methods, and potential strategic collaborations to strengthen our long-term prospects.'
The Star
18-06-2025
- Health
- The Star
YAYASAN UEM BOOSTS LIFESAVING MEDICAL AID WITH RM2MIL CONTRIBUTION
From left: HRC director Dr Fairul Nizam Abu Salim, Yayasan UEM chief executive officer Aishah Nor, Yayasan UEM Board of Trustees member Datuk Amran Hafiz Affifudin, HPUSM director Prof Datuk Dr Ab Rahman Izaini Ghani, Health Ministry secretary-general Datuk Seri Suriani Ahmad, HCTM director Datuk Dr Azmi Baharudin, Kuala Lumpur and Putrajaya state health director Dr Nor'Aishah Abu Bakar and UMMC director Prof Dr Nazirah Hasnan at the ceremony. — FAIHAN GHANI/The Star YAYASAN UEM, the philanthropic arm of UEM Group Bhd (UEM Group), has contributed RM2mil for the implementation of its annual Medical Assistance programme this year, bringing the total contributions nearing RM13.9mil since its inception in 2014. Entering its 12th year, the programme which to date has benefited more than 1,600 underprivileged patients from across Malaysia, continues to expand with Cheras Rehabilitation Hospital (HRC) under the Health Ministry joining as its fourth strategic partner. The programme's other existing strategic partners are University Malaya Medical Centre (UMMC), Hospital Canselor Tuanku Muhriz Universiti Kebangsaan Malaysia (HCTM) and Hospital Pakar Universiti Sains Malaysia (HPUSM). This year, each hospital has once again received a contribution of RM500,000 from Yayasan UEM which are used to procure life-saving medical devices such as pacemaker and breathing device, medications, treatment charges including those for chemotherapy as well as to facilitate high-cost, critical surgeries for each of the hospitals' underprivileged patients. The contribution ceremony for the 2025 Yayasan UEM Medical Assistance Programme was held at HRC, where Yayasan UEM chief executive officer Aishah Nor presented mock cheques to representatives of its strategic partners. This included Dr Faizul Nizam Abu Salim from HRC, Prof Dr Nazirah Hasnan from UMMC, Datuk Dr Azmi Baharudin from HCTM and Prof Datuk Dr Ab Rahman Izaini Ghani from HPUSM. At HRC specifically, the funding is used to procure a Transcranial Magnetic Stimulation (TMS) device for its neurological rehabilitation treatment as well as to subsidise other rehabilitation costs for its patients to support their long-term recovery and health. The funding will also help cover rehabilitation costs for underprivileged asnaf and non-Muslim patients, ensuring they have equal access to essential treatment. Health Ministry secretary-general Datuk Seri Suriani Ahmad who graced the ceremony, said: 'This initiative is a testament to Yayasan UEM's commitment to expanding access to quality, inclusive and equitable rehabilitation care for all segments of society, in line with the principles of Malaysia Madani.' She also emphasised that the initiative marked a historic and meaningful step for both HRC and the Health Ministry as it is the only rehabilitation facility under ministry that provides comprehensive rehabilitation services for patients with stroke, spinal cord injuries, amputations and other conditions requiring long-term intervention. According to Aishah, Yayasan UEM is deeply committed to providing access to quality medical care for the underprivileged, especially against the backdrop of rising medical cost and inflation. 'Despite medical advancements, disparities in access to medical care persist in Malaysia, exacerbated by the recent Covid-19 pandemic. 'We believe that every individual has the right to access health and medical services. 'It is with this notion that we fully support the government's efforts to promote inclusive and sustained medical support and we hope to continue to make a meaningful difference in the lives of those who need it most,' she added. Also present to witness the ceremony were Kuala Lumpur and Putrajaya state health director Dr Nor'Aishah Abu Bakar, as well as UEM Group managing director and Yayasan UEM Board of Trustees member Datuk Amran Hafiz Affifudin.
