Latest news with #RM15.8
The Sun
3 days ago
- Business
- The Sun
Signature Alliance expects double-digit net profit growth in FY25
KUALA LUMPUR: Interior fitting-out specialist Signature Alliance Group Bhd expects double-digit net profit growth in financial year 2025 (FY25), driven by projects in the pipeline and market visibility following its debut on the ACE Market. Executive director/group CEO Darren Chang said the company is confident of securing 15% to 20% of its RM1.1 billion tender book by the end of 2025, supported by an unbilled order book of RM388 million. 'Because with the book order that we already have and with the first Q1 (results), I can say that compared to last year, this year should be a double-digit growth,' he told the media after the company's listing today. The tenders primarily comprise commercial and industrial property projects as at April 16. Chang said Signature Alliance currently holds only about 8% market share in Malaysia's interior fit-out sector which means room for expansion. 'We are not only focused in one sector like corporate offices or hotels. We are in all sectors. All sectors have the opportunity for us to work.' As at April 16, Signature Alliance had 69 ongoing projects with a total contract value of RM902.4 million, of which RM388.6 million unbilled. For the first quarter ended March 31, 2025 (Q1'25), Signature Alliance reported a net profit of RM15.8 million on the back of revenue of RM147.2 million. The performance was driven by interior fitting-out works for two major projects – a commercial office property in Bandar Baru Sri Petaling and a commercial hotel property in Tun Razak Exchange, accounting for 38.9% and 11.9% of the revenue respectively. For FY24, Signature Alliance's net profit surged 290.4% to RM40.6 million, from RM10.4 million in FY23. This was attributed to higher gross profit and net gain on impairment of financial assets and contract assets. Revenue for FY24 rose 122.6% to RM386.0 million, from RM173.4 million in FY23. Chang attributed the profit leap in recent years to support from parent company Signature International Bhd, which gave Signature Alliance better financial standing and bargaining power. 'Right after we joined Signature International Bhd, they gave us strong financial backing. With that support, we had better negotiating power with our vendors – allowing us to secure discounts by offering better payment terms, prompt payments, and so on.' 'Following this IPO, we'll continue applying the same strategy, and with our improved brand visibility, we expect more vendors to approach us. This gives us more options and more competitive pricing for our projects.' Signature Alliance made a firm debut on the ACE Market of Bursa Malaysia, opening at 68 sen, 6 sen or 9.7% above its initial public offering (IPO) price of 62 sen. The stock closed at 70 sen, an 8 sen or 12.9% premium over the IPO price, with 90.9 million shares traded. Signature Alliance's listing comes on the back of a fully subscribed IPO, with its public portion oversubscribed by 1.12 times. The offering raised RM161.2 million through the issuance of 260 million new shares at 62 sen apiece, giving the company a market capitalisation of RM620 million at listing. Of the proceeds, RM88 million (54.6%) will be used to establish a new corporate headquarters and centralised production facility in Selangor, RM30.1 million (18.7%) toward working capital, RM20 million (12.4%) to repay bank borrowings, RM12 million (7.4%) to set up branch offices in Penang and Johor, RM4 million (2.5%) for new machinery, and RM7.1 million (4.4%) to cover listing expenses. M&A Securities Sdn Bhd is the adviser, sponsor, managing underwriter, joint underwriter and joint placement agent while Affin Hwang Investment Bank Bhd is the joint underwriter and joint placement agent for Signature Alliance's IPO.
Borneo Post
4 days ago
- Business
- Borneo Post
SUPP continues 'Sarawak First' vision, says Dr Sim
Dr Sim raising the flag as all the party members stand alongside as they unite for the flag-raising ceremony. – Photo by Chimon Upon. KUCHING (June 4): Sarawak United People's Party (SUPP) has remained steadfast in fighting for the rights of Sarawak's multi-racial community, said party president Datuk Amar Dr Sim Kui Hian. Speaking at the party's 66th anniversary flag-raising ceremony, held at its headquarters here today, Dr Sim emphasised that the celebration signified more than just the party's age or its status as Sarawak's first political party. 'This is not just a celebration of 66 years of SUPP, nor merely a celebration of Sarawak's first political party or its multi-racial identity. 'Rather, It is a celebration to continue the same vision and mission of our founders, which is 'Sarawak First', since 1959,' he said. Dr Sim, who is Sarawak Deputy Premier, reiterated SUPP's ongoing commitment to fighting for Sarawak's constitutional rights, including autonomy in health and education, under the 'Sarawak First' agenda. He expressed gratitude to the party's founding fathers, as well as past and present members and leadership for their sacrifices throughout a journey filled with 'ups and downs, disappointments, and hardships.' 'Despite all these challenges, they stayed loyal to the party. That's why the party is still around today,' he added. (From front row, fourth left) Bong, Lee, Dr Sim, Yap and other distinguished SUPP members pose for a group photo during the cake-cutting ceremony. – Photo by Chimon Upon. Touching on Sarawak's development, Dr Sim highlighted the state's RM15.8 billion budget for this year, which is approximately 16 times larger than Penang's and over five times larger than Selangor's budgets. 'We are no longer number 13, we are no longer going to be last. We want to be as good as anywhere else in Malaysia,' he stressed, referencing Sarawak's position in the Malaysian IC code. 'That's why we need to stand up and help Sarawak in its nation-building,' he said. He also emphasised the need to prioritise Sarawakians first while contributing to a stable Malaysia. 'There is no question about our commitment to Malaysia as a stable government. However, we cannot make that commitment if divisive, polarising, and politicising forces persist. 'That depends on the rest of Malaysia — because here in Sarawak, we are not divisive,' he said. As Sarawak approaches 2030, Dr Sim acknowledged the state's strong progress under the Post Covid-19 Development Strategy 2030 but raised concerns about sustainability. 'We need more Sarawakians to step forward and play their role in nation-building,' he urged. He noted that Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg is already strategising beyond 2030. Looking ahead, Dr Sim reaffirmed that Sarawak is evolving beyond being just a 'kampung'. 'We are building a regional hub for commerce, tourism, banking, and energy. This is the future of Sarawak as a regional hub in Southeast Asia,' he added. Among those present were SUPP deputy president Dato Sri Lee Kim Shin, deputy secretary-general Dato Lo Khere Chiang, SUPP Kota Sentosa Branch chairman Wilfred Yap, and organising chairman Wilian Bong Lip Ken. 66th anniversary flag-raising ceremony Dr Sim Kui Hian lead SUPP
Borneo Post
13-05-2025
- Business
- Borneo Post
Sarawak must lead on global sustainability stage, says Premier
(From second left) RH Group managing director Datuk Tiong Thai King and Dr Sim pose with to the RH Group Tower scale model. SIBU (May 13): Sarawak must continue to position itself as a global player in the fields of clean energy, digital economy, and sustainable development, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg. He said for this reason, more corporations should join the effort to power industries with clean energy and project Sarawak's leadership on the global sustainability stage. Abang Johari said his recent visit to the United Kingdom further reinforced his belief on this matter. 'We engaged with leaders in green hydrogen technology and sustainable urban planning, and I am encouraged by the potential for future collaborations that can benefit both our public and private sectors. 'Our ambition is to position Sarawak as the Asean powerhouse for clean energy. We are aiming to generate up to 15 gigawatts of renewable energy by 2035 through hydroelectricity, floating solar farms, and hydrogen production. 'This transition towards a green economy is not just an environmental imperative. It is a strategic opportunity,' he said in a speech for the launching of the Rimbunan Hijau (RH) Group Tower new facade and interior renovations here today. The event also marked RH Group's 50th golden jubilee celebration. Abang Johari's speech was read by Deputy Premier Datuk Amar Dr Sim Kui Hian. On the event, Abang Johari said it closely aligned with his broader vision for Sarawak's economic transformation. 'I have projected that Sarawak's gross domestic product (GDP) will surpass 5 per cent in 2025, supported by strategic investments in infrastructure, green technology, and digital innovation. 'The state's allocation of RM15.8 billion for development underscores our strong intent to uplift public services, drive equitable progress, and secure lasting prosperity. 'I am heartened to see RH Group playing an active role in this journey through continuous reinvestment and modernisation, which mirrors the development momentum we are building across Sarawak,' he said. Abang Johari also praised RH Group for being a cornerstone of the local economy, a testament to the vision and dedication of its founders and the hard work of its employees. 'Rooted deeply in Sarawak soil, RH Group has blossomed, creating countless opportunities for our people and empowering families across the nation. You have not only built a successful enterprise but have also built livelihoods and futures for so many. 'Beyond our borders, RH has carried the Sarawak spirit onto the global stage, showcasing the quality, innovation, and determination that define us. You have become an ambassador for our nation, building bridges and forging partnerships that bring pride to our homeland. Furthermore, your contributions extend beyond economic prosperity,' he said. He added RH Group has consistently been a valuable partner in achieving the government's policy objectives, demonstrating a deep understanding of national aspirations, and a willingness to contribute to collective progress. abang johari lead RH Group
Borneo Post
09-05-2025
- Business
- Borneo Post
Legal foundation key to Sarawak–federal talks on Petronas-Petros, says Deputy Premier
Dr Sim points out that the issue of oil and gas sovereignty involves what he described as 'Sarawak's big money for the next 100 years', and that the rule of law will determine Sarawak's position in this century-long strategic game. KUCHING (May 9): The ongoing negotiations between the Sarawak government, the federal government, Petronas, and Petroleum Sarawak Berhad (Petros) hinge critically on establishing a solid legal foundation, said Deputy Premier Datuk Amar Dr Sim Kui Hian. He pointed out that the issue of oil and gas sovereignty involves what he described as 'Sarawak's big money for the next 100 years', and that the rule of law will determine Sarawak's position in this century-long strategic game. 'This year, the Sarawak government's revenue is RM15.8 billion – equivalent to 15 years of Penang's income or five years of Selangor's. That's the gap,' he said, in a See Hua Daily News report. He candidly remarked that the agreement currently being negotiated with the Prime Minister Datuk Seri Anwar Ibrahim, even if only at a preliminary stage, could already bring Sarawak RM10 billion in cash – an amount that surpasses the total property value of Kuching, Sibu and Miri combined. He said this was merely 'the initial funding', noting that the real value lies in Sarawak's rich and strategically important natural gas reserves. 'We are the fifth or sixth largest natural gas reserve in the world. This money is not just for now — it is money with far-reaching implications for the next hundred years,' he said when officiating at the Borneo Eco Show 2025 at the Borneo Convention Centre Kuching (BCCK) today. Touching on medical research, Dr Sim highlighted that since the establishment of Clinical Research Malaysia in 2012, Sarawak has successfully attracted over RM1.5 billion in medical research investments and created around 3,000 high-paying jobs. He emphasised that Sarawak now leads the nation in First-in-Human (FIH) clinical trials. In 2023, Malaysia recorded six such trials – five of which were from Sarawak. Notably, the Sarawak General Hospital (SGH) has been recognised by international pharmaceutical giant Roche as the only medical institution in Southeast Asia qualified to conduct cancer clinical trials. Dr Sim also cited Singapore as an example of what not to blindly follow in urban development. He shared that during a visit with Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg to Singapore's Ang Mo Kio area in 2022, they learned that the Singapore government had removed a previously cemented river and restored it to its natural state, as the concrete structure had caused fish and birds to vanish. 'Our drains aren't cemented, not because we're advanced, but because we couldn't afford it. But in the end, we preserved the natural rivers, which turned out to be an advantage,' said Dr Sim. He stressed that urbanisation should balance sustainability with livability, and mistakes made by others need not be repeated. With a touch of wit, he added: 'If others have already gotten cut by the knife, we don't need to slash ourselves again.' Dr Sim Kui Hian oil and gas Petronas Petros
