Latest news with #RM14.2
New Straits Times
7 days ago
- Business
- New Straits Times
Sarawak collects RM4.3bil in first four months, eyes full-year target of RM14.2bil
KUCHING: Sarawak collected RM4.3 billion in revenue in the first four months of the year, or 30 per cent of its projected annual revenue of RM14.2 billion, Deputy Premier Datuk Amar Douglas Uggah told the State Legislative Assembly today. He said the state sales tax contributed RM1.76 billion of the total, while cash compensation in lieu of oil and gas rights accounted for RM1.17 billion. "A sum of RM608 million was derived from investment dividends, RM229 million from raw water royalty, and RM250 million from interest income," said Uggah, who is also the Second Minister of Finance and New Economy, during his winding-up speech in the State Assembly. He added that RM65 million came from forestry receipts, RM59 million from land premiums, RM25 million from federal grants and reimbursements, and RM137 million from land rent, mining royalties, and water sales. Uggah also told the assembly that the state sales tax on oil and gas has contributed a total of RM21.38 billion to the state coffers since 2019. He said the sales tax on oil and gas remains the major contributor to the overall state revenue. However, he said that given the challenging economic environment and ongoing geopolitical issues affecting global oil and gas markets, the state government anticipates that this year's revenue projection may be impacted.
The Sun
26-05-2025
- Business
- The Sun
Northern Solar achieves RM84.9m revenue in Q4 FY25 amid strong solar EPCC demand
KUALA LUMPUR: Northern Solar Holdings Bhd, a leading renewable energy solutions provider, achieved a revenue of RM84.9 million for the fourth quarter (Q4) ended March 31, 2025 (FY25), primarily driven by robust project execution within its core engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems segment. Northern Solar recorded a full-year net profit of RM14.2 million, after adding back one-off IPO listing expenses of RM2.76 million incurred during the financial year. For Q4 FY25 specifically, the net profit after adding back the IPO expenses was RM3.3 million, broadly stable compared to the preceding quarter's profit of RM3.4 million, demonstrating sustained operational efficiency. Managing director Lew Shoong Kai said the company's FY25 financial results reflect solid operational performance and effective cost management. 'The successful IPO in February 2025 significantly enhanced our balance sheet, giving us a strong foundation to expand into larger-scale solar projects. 'Our strengthened financial position places us in a favourable position to pursue strategic growth opportunities, particularly in the large-scale solar (LSS) segment,' he said. As of March 31, 2025, Northern Solar maintained a healthy unbilled order book of approximately RM70 million, providing clear earnings visibility into the next financial year. Furthermore, the group holds a robust tender book of approximately RM1.8 billion, excluding potential contributions from upcoming large-scale solar projects. This substantial tender pipeline underscores the group's strong growth prospects. Northern Solar's financial standing post-IPO remains robust, reflected in a solid cash balance of RM52.2 million and a low gearing ratio of just 0.15 times. Healthy operating cash flows, amounting to RM7.2 million, generated during FY25 further strengthen the group's financial stability. Looking ahead, the outlook for Malaysia's renewable energy industry remains highly positive, supported by the government's firm commitment under the National Energy Transition Roadmap (NETR) to achieve a 70% renewable energy mix by 2050. Upcoming initiatives, including the Large-Scale Solar schemes (LSS5, LSS5+, and LSS6), are projected to unlock between RM15 billion and RM18 billion in EPCC opportunities within the next two years, providing substantial growth potential for the group. 'With our significantly strengthened balance sheet and enhanced financial resources, Northern Solar is now actively eyeing opportunities in these large-scale initiatives, alongside the Corporate Renewable Energy Support Scheme (CRESS) and Corporate Renewable Energy Agreement Model (Cream). 'We are optimistic about capturing our fair share of these major projects, further enhancing our pipeline and reinforcing our growth trajectory,' he said. Northern Solar also remains focused on expanding its recurring income streams. The group currently operates approximately 5 MW of renewable energy generation assets and aims to triple this capacity in the upcoming financial year. This strategic move is expected to contribute to earnings stability and further strengthen the company's financial profile.
Barnama
04-05-2025
- General
- Barnama
NCTF Funds 117 Conservation Projects With RM22.59 Million allocation
GENERAL BUKIT MERTAJAM, May 4 (Bernama) -- The National Conservation Trust Fund (NCTF) under the Ministry of Natural Resources and Environmental Sustainability (NRES) has funded a total of 117 conservation projects involving an allocation of RM22.59 million. Its Minister, Nik Nazmi Nik Ahmad said that of the total, 72 projects are in the implementation phase with a funding commitment of RM6.59 million, while 35 projects have been completed with an allocation of RM14.2 million. 'One of the completed projects is the Conservation of Seladang in the Royal Belum State Park (RBSP) - Temenggor Forest Reserve Complex, implemented by the non-governmental organisation Borneo Rhino Alliance (BORA) in collaboration with the Department of Wildlife and National Parks (Perhilitan) and brought to the Second National Biodiversity Council. 'The meeting recognises the Seladang as an endangered species of national importance, and a Seladang Conservation Management Plan will be developed to stabilise its population,' he said in his closing speech at the Biology Exploration Workshop (Avian) with the Seberang Perai Community at Dewan Kampung Pisang, Cheruk Tokun here today. His speech was read out by Forest Research Institute of Malaysia (FRIM) director-general Datuk Dr Ismail Parlan. Also present was Nature Sustainable Ecosystem Society (NEST) chairman Sulaiman Salikan. The workshop was conducted through a collaboration between Think City, as the fund provider through the Seberang Perai Town Grant with NEST, as the implementing body, and the Seberang Perai City Council, which provides support in terms of sustainable urban planning. Elaborating, Nik Nazmi said data from the International Union for Conservation of Nature (IUCN) and Perhilitan found that a bird species that went extinct around the 1960s was the green peafowl (pavo muticus) while the species currently facing the threat of extinction include the Malayan crested argus and the mountain peacock-pheasant. He added that the causes of extinction include loss of habitat due to logging and development, illegal trade in exotic birds as well as illegal hunting and keeping of wild birds as pets. 'Malaysia has 814 bird species and, of that total, 697 are found in the Peninsula while 55 species are endemic, with 48 of them found in Borneo (Sabah and Sarawak).
