Latest news with #RM15
Borneo Post
18 hours ago
- Business
- Borneo Post
S'wak's economy stays resilient with strong sector growth, continued investments despite global risks, says Uggah
Uggah says the services sector is expected to grow by 6.7 per cent in 2024, supported by tourism, with 4.8 million visitor arrivals last year and 1.2 million in the first quarter of 2025. – Photo by Chimon Upon KUCHING (May 28): Sarawak's economy remains on a strong growth path despite global uncertainties, with key sectors showing steady performance and continued investment driving development, said Deputy Premier Datuk Amar Douglas Uggah Embas. He also said the services sector is expected to grow by 6.7 per cent in 2024, supported by tourism, with 4.8 million visitor arrivals last year and 1.2 million in the first quarter of 2025. 'Manufacturing output rose, driven by increased liquefied natural gas (LNG) production, though global market softening may affect demand later this year. 'The mining sector is projected to grow by 2.3 per cent in 2024, bolstered by new oil and gas developments such as the Kasawari field,' he said in his Finance and New Economy ministerial winding up speech at the State Legislative Assembly (DUN) sitting today. Apart from that, he also said agriculture posted modest growth, with oil palm yields improving despite a slight drop in crude palm oil extraction rates. While construction remains one of the fastest-growing sectors at 8.7 per cent, led by infrastructure projects under the 12th Malaysia Plan. 'Total trade grew by 2.8 per cent in 2024, with LNG and CPO exports leading the way, though crude petroleum exports declined. 'However, early 2025 trade data shows an 11.4 per cent contraction, reflecting external market risks,' he said. Meanwhile he also said Sarawak secured RM7.6 billion in approved manufacturing investments in 2024, while public development expenditure reached nearly RM15 billion. For 2025, the state has allocated RM10 billion for development, with RM5.9 billion from the federal government. Uggah also noted strong domestic consumption, boosted by the revised public service pay scheme and targeted assistance programmes like Sarawak Basic Needs Assistance (SKAS) and Sumbangan Tunai Rahmah (STR). Thus the state, according to him, remains committed to sustaining economic momentum, though growth projections of 5.0 to 6.0 per cent in 2025 may be challenged by global headwinds. douglas uggah DUN sarawak economy
New Straits Times
a day ago
- Business
- New Straits Times
Matrix Concepts beats FY25 sales target, eyes RM1.6bil launches in FY26
KUALA LUMPUR: Matrix Concepts Holdings Bhd recorded a 10.4 per cent increase in new property sales to RM1.38 billion for the financial year ended March 31, 2025 (FY25) from RM1.25 billion a year earlier. The growth was driven by strong market demand and an increase in new launches across its diverse development portfolio. The new property sales significantly surpassed the the property developer's sales target of RM1.3 billion, bolstered by strong performances from its projects. This includes its core township developments, Sendayan Developments and Bandar Seri Impian, as well as the Klang Valley high-rise project, Levia Residences. The sales also included the company's first industrial land sales from the highly anticipated Malaysia Vision Valley City (MVV City). Taking advantage of favourable market conditions, Matrix Concepts launched projects with a total gross development value (GDV) of RM1.45 billion in FY25, a 9.8 per cent rise from RM1.32 billion last year. The overall take-up rate for FY25 launches stood at 73 per cent as of March 31, 2025, indicating strong buyer confidence. Datuk Mohamad Haslah Mohamad Amin said that surpassing the FY25 sales target reflects the enduring trust and confidence of homeowners across generations. Datuk Mohamad Haslah Mohamad Amin said the FY25 surpassing our sales target for the year reflects the lasting trust of homeowners across generations. He stated that for nearly three decades, the commitment to delivering premium-quality, trend-driven homes at accessible prices has driven strong take-up across Matrix Concepts' developments in Negri Sembilan, Johor and the Klang Valley. "FY26 is positioned for transformative growth, supported by a launch target of RM1.6 billion in GDV of new projects. "These upcoming launches include the first phase of the MVV City's industrial land, a key catalyst for our next growth phase. "Spanning 964.1 hectares with a projected GDV of RM15 billion, the MVV City development is poised to provide a clear earnings trajectory in the near term and reinforce our long-term confidence," Mohamad Haslah added. In FY25, the company's revenue declined 11.2 per cent to RM1.19 billion from RM1.34 billion previously due to the timing of launches and revenue recognition for properties sold in Sendayan Developments and Bandar Seri Impian. Its net profit also fell 12 per cent to RM214.1 million from RM244.3 million previously. Matrix Concepts' unbilled sales stood at RM1.46 billion as of March 2025, providing significant earnings visibility for the next 15 to 18 months. The company declared a fourth quarter interim dividend of 1.35 sen per share that will be paid on July 10, 2025. Mohamad Haslah said the company is expanding its footprint within the high-growth Klang Valley region, particularly Selangor. He said the recent investments have established a robust platform for future developments in the Banting and Sepang areas. "Beyond our core property development activities, we are strategically expanding into high-potential sectors such as hospitality, education and healthcare. "These complementary ventures are designed to create diversified and recurring income streams, strengthening our resilience and enhancing long-term value creation," he added.
The Sun
2 days ago
- The Sun
Teenager pleads not guilty to raping student in school store
KOTA BHARU: A teenager pleaded not guilty in the Sessions Court here today to a charge of raping a 15-year-old female student at a secondary school in Kuala Krai in April last year. The 18-year-old boy was charged under Section 376(1) of the Penal Code, which carries a sentence of up to 20 years imprisonment and caning upon conviction. However, as the accused was a minor at the time of the alleged offence, sentencing provisions under Section 91 of the Child Act 2001 apply. Deputy public prosecutor Ahmad Faiz Fitri Mohamad proposed bail at RM15,000, while defence counsel Wan Norfarhan Liyana Wan Baharunddin requested a lower amount, citing the accused's low-income parents who work as daily-wage labourers. She also informed the court that the accused, a recent Sijil Pelajaran Malaysia graduate, is scheduled to begin matriculation studies next month. Judge Zulkifli Abllah allowed bail at RM5,000 with a condition that the accused does not tamper with prosecution witnesses, and fixed case mention for June 26.
The Star
2 days ago
- The Star
Teen pleads not guilty to raping student in school store
KOTA BHARU: A teenager pleaded not guilty in the Sessions Court here on Tuesday (May 27) to a charge of raping a 15-year-old female student at a secondary school in Kuala Krai in April last year. The 18-year-old boy was charged under Section 376(1) of the Penal Code, which carries a sentence of up to 20 years imprisonment and caning upon conviction. However, as the accused was a minor at the time of the alleged offence, sentencing provisions under Section 91 of the Child Act 2001 apply. Deputy Public Prosecutor Ahmad Faiz Fitri Mohamad proposed bail at RM15,000, while defence counsel Wan Norfarhan Liyana Wan Baharunddin requested a lower amount, citing the accused's low-income parents who work as daily-wage labourers. She also informed the court that the accused, a recent Sijil Pelajaran Malaysia graduate, is scheduled to begin matriculation studies next month. Judge Zulkifli Abllah allowed bail at RM5,000 with a condition that the accused does not tamper with prosecution witnesses, and fixed case mention for June 26.- Bernama
The Star
2 days ago
- Business
- The Star
BANK EMPOWERS OVER 700 MICRO-ENTREPRENEURS
Mohd Rashid (third left), RHB managing director of group community banking Jeffrey Ng Eow Oo (second right) and group chief brand and customer experience officer Norazzah Sulaiman (second left) capturing a victorious moment with #JomBiz Cohort five winners (from left, holding mock cheques) Nur Shawani, Nurul Farhana and Mohd Shafiq. KUALA LUMPUR: RHB Banking Group (RHB) celebrates the continued success of its #JomBiz programme, a socio-economic empowerment initiative aimed at empowering B40 micro entrepreneurs. Since launching in 2022, the programme has invested over RM1.1mil, benefitting more than 700 micro-entrepreneurs and delivering an impressive 35% average sales growth within just three months. The 2025 RHB #JomBiz Award Ceremony held on Feb 10 celebrated these remarkable achievements of selected micro entrepreneurs from RHB #JomBiz, showcasing the programme's critical role in providing funding, capacity building, and mentorship to micro, small and medium enterprises (MSMEs) from the B40 group and underserved communities. The ceremony recognised the recipients of business incentive funding from Cohort 5 of the #JomBiz programme. Participants undergo capacity-building classes on topics such as social media marketing, sustainable business practices and financial management. Following these sessions, they present their business plans to a panel of judges, with the top 10 proposals receiving initial funding ranging from RM5,000 to RM15,000 to support their business growth. RHB group managing director/group chief executive officer Datuk Mohd Rashid Mohamad emphasised RHB's commitment to supporting micro-entrepreneurs, 'We recognise the immense potential of MSMEs in transforming lives and uplifting communities, but we also acknowledge the challenges they face such as limited access to funding, lack of business knowledge and the difficulty of building networks within competitive markets. Mohd Rashid (front, fourth left) showing thumbs up with his team, Ng (front, fourth right), Norazzah (front, third left), together with guests, winners and participants of the RHB #JomBiz programme, during the RHB #JomBiz award ceremony 2025 held at RHB Centre, Kuala Lumpur. 'This initiative reflects our unwavering commitment to driving growth, fostering resilience and empowering participants to overcome obstacles and thrive in today's dynamic economy.' At the graduation ceremony of Cohort 5, Mohd Rashid also shared inspiring success stories from the programme, including participants who secured franchise opportunities and supply contracts with renowned companies after attending the Franchise Expo Malaysia 2024 organised by the Malaysia Retail Chain Association. Notably, four #JomBiz participants were recognised at The Star Outstanding Business Awards (SOBA) 2023. The top 3 winners of Cohort 5's business incentive funding are: > First: Nurul Farhana Amirul Hizan, Hanawarrah Creation Enterprise (healthy dried snack food products) - awarded with RM15,000 > Second: Mohd Shafiq Ezwanie Jafri, Senju Co (pastry and bakery business) - awarded with RM12,000 > Third: Nur Shawani Che Mansur, Wisymadani Resources (agro-tourism and agro-based industry business) - awarded with RM10,000 Mohd Rashid concluded, 'These stories inspire us at RHB to continue providing more platforms for our RHB #JomBiz participants. We hope their success inspires and motivates other micro-entrepreneurs to pursue their dreams.' RHB aims to expand the #JomBiz programme in 2025 to reach more participants and broaden its impact on Malaysia's micro-entrepreneur community. The programme will continue to prioritise asnafs, single parents, and persons with disabilities, ensuring inclusive opportunities for all. Learn more about how RHB #JomBiz can help micro-entrepreneurs achieve their goals by visiting .
