Latest news with #RM154
BusinessToday
22-05-2025
- Business
- BusinessToday
KLK 2Q Profit Falls To RM154 Million, Hit By Overseas Associate Losses, FX Impact
Kuala Lumpur Kepong Bhd Kuala Lumpur Kepong Berhad (KLK) posted a lower net profit of RM154 million for its second quarter ended March 31, 2025 (2QFY25), down from RM220 million in the preceding quarter, despite a rise in group revenue to RM6.3 billion, compared to RM5.9 billion in 1QFY25. On a year-on-year basis, KLK's 2Q pre-tax profit rose 15% to RM269.9 million from RM234.7 million in 2QFY24, supported by a 16.2% increase in revenue to RM6.34 billion. Segmental Performance Manufacturing The group's manufacturing segment narrowed its loss to RM38.3 million, compared to RM53.4 million in 1QFY25. The improvement was largely driven by: Higher revenue of RM5.42 billion (1QFY25: RM4.76 billion), Stronger profit contribution from the Oleochemical division, and A smaller loss from its non-oleochemical operations. However, the segment continued to be weighed down by losses in its refinery and kernel crushing operations. Property Development The property segment saw its profit slump 53.4% to RM3.5 million, from RM7.5 million in 1QFY25, on lower revenue of RM39.7 million (1QFY25: RM44.1 million), reflecting a slower property market. Investment Holding/Others This segment posted a larger loss of RM94.8 million, widening from RM58.1 million in the previous quarter. The decline came despite a stronger farming profit of RM34.6 million (1QFY25: RM186,000), as the group absorbed a RM63.3 million equity loss from its UK-listed associate Synthomer plc, which continues to face performance headwinds. Net corporate expenses increased to RM54.8 million (1QFY25: RM50.6 million), mainly due to a larger foreign exchange loss of RM40 million from the translation of intercompany loans denominated in foreign currencies. This was partly offset by a RM3.9 million gain from land sales and government acquisitions. Despite challenges in its manufacturing and investment holding arms, KLK remains supported by steady revenue growth and contributions from its oleochemical business. However, the group's near-term profitability may remain volatile due to external pressures, particularly from its overseas associate performance and currency fluctuations Related
Malay Mail
20-05-2025
- Business
- Malay Mail
Asian stocks climb as investors weigh US debt, trade and rate decisions
Investors shrug off Moody's US credit downgrade Dollar drifts as selloff in Treasuries ease Eyes on RBA policy decision; rate cut expected SINGAPORE, May 20 — Asian stocks rose today while US Treasury yields steadied allowing a bit of a breathing room for the US dollar as investors took stock of the debt load of the world's biggest economy and awaited trade deals. Moody's downgrade of its rating for US sovereign credit last week — due to concerns about that nation's growing US$36 trillion (RM154 trillion) debt pile — led to a selloff in Treasuries yesterday but that stabilised by Asian trading hours today. 'The Moody's downgrade was a temporary shock and rather meaningless in the bigger picture,' said Kyle Rodda, senior financial market analyst at 'But then we're not really being fed any kind of fresh new news for investors to buy into... We haven't gotten any new deals coming through.' With little indication of trade deals on the way, markets are struggling for direction, analysts said. The 30-year bond yield was 3.5 basis points lower at 4.906 per cent after hitting an 18-month high of 5.037 per cent in the previous trading session. Major US stock indexes recovered from early loss to end mostly flat. That left the MSCI's broadest index of Asia-Pacific shares outside Japan 0.36 per cent higher, hovering near the seven-month high touched last week. Japan's Nikkei gained 0.65 per cent in early trade. Chinese stocks were steady at the open after the local central bank cut benchmark lending rates for the first time since October, while five of China's biggest state-owned banks also lowered deposit interest rates. The blue-chip index was 0.15 per cent higher whereas Hong Kong's Hang Seng Index rose 1 per cent. US Federal Reserve officials took on cautiously the ramifications of the Moody's downgrade and unsettled market conditions as they continued to navigate an uncertain economic environment in the wake of erratic US trade action. While not an imminent issue for the Fed, higher borrowing costs tied to a deteriorating US financial position could make credit generally more expensive and create restraint on economic activity. Traders have priced in two interest rate cuts from the US central bank this year, versus four last month when President Donald Trump's tariff salvos upended markets and led to investors exiting US assets. 'For now, US exceptionalism and corporate resilience are offsetting the risks,' said Charu Chanana, chief investment strategist at Saxo in Singapore. 'But how long before investors start demanding a higher risk premium, especially with the Fed in wait-and-see mode and trade talks seemingly stalling?' Markets will be monitoring a US congressional debate over a tax bill later in the day at which Trump is widely expected to be present ahead of a vote on the legislation later this week. The measure would extend Trump's 2017 tax cuts and potentially add US$3 trillion to US$5 trillion to national debt over the next decade. Investors will also watch out for a policy decision from the Reserve Bank of Australia, with cuts to interest rates widely expected. The Australian dollar was a tad weaker at US$0.64485. In commodities, oil prices were mixed as investors contended with a potential breakdown in talks between the US and Iran over the latter's nuclear activity and weakened prospects of more Iranian supply entering the market. — Reuters
The Sun
14-05-2025
- Business
- The Sun
Sarawak allocates RM3.55 billion to build modern govt quarters
SARIKEI: The Sarawak government has approved an allocation of RM3.55 billion, under the 13th Malaysia Plan (13MP), to develop modern government quarters across the state, said Premier Tan Sri Abang Johari Tun Openg. According to him, the initiative aims to safeguard the welfare of civil servants, particularly those serving in rural areas. The new government quarters will not only house state government officials, but will also be made available to federal officials, when necessary. 'For example, in my state constituency of Gedong, there are no quarters for on-duty doctors. As a result, we have had to rent houses from villagers. That's where the inspiration to build these modern quarters came from,' he told reporters, after officiating the Sarikei Division Government Administration Centre, today. Abang Johari said that the new quarters will be built in the form of apartments, and managed by a specialised agency. These quarters will be equipped with a security system, and a recreation centre to support the physical and mental well-being of civil servants. 'This is a new approach, so that government officials can serve the people better,' he added. Several sites have been identified and approved for construction by the Public Service Commission (SPA), with priority given to locations near government offices, and recreational facilities such as stadiums. Meanwhile, Abang Johari expressed satisfaction with the progress of development projects in the Sarikei Division, involving 200 government initiatives as of April 2025, with a total allocation of RM4.9 billion. These projects cover various sectors, including the construction of roads, bridges, and water and electricity supply. Among the completed key projects is the Sarawak Government Administration Centre in Sarikei, which houses the Resident's Office and various government agencies at a cost of over RM154 million. 'All these projects are progressing according to schedule, further strengthening the government's development planning in the area,' he said.
Barnama
14-05-2025
- Business
- Barnama
Sarawak Allocates RM3.55 Billion To Build Modern Govt Quarters
SARIKEI, May 14 (Bernama) -- The Sarawak government has approved an allocation of RM3.55 billion, under the 13th Malaysia Plan (13MP), to develop modern government quarters across the state, said Premier Tan Sri Abang Johari Tun Openg. According to him, the initiative aims to safeguard the welfare of civil servants, particularly those serving in rural areas. The new government quarters will not only house state government officials, but will also be made available to federal officials, when necessary. 'For example, in my state constituency of Gedong, there are no quarters for on-duty doctors. As a result, we have had to rent houses from villagers. That's where the inspiration to build these modern quarters came from,' he told reporters, after officiating the Sarikei Division Government Administration Centre, today. Abang Johari said that the new quarters will be built in the form of apartments, and managed by a specialised agency. These quarters will be equipped with a security system, and a recreation centre to support the physical and mental well-being of civil servants. 'This is a new approach, so that government officials can serve the people better,' he added. Several sites have been identified and approved for construction by the Public Service Commission (SPA), with priority given to locations near government offices, and recreational facilities such as stadiums. Meanwhile, Abang Johari expressed satisfaction with the progress of development projects in the Sarikei Division, involving 200 government initiatives as of April 2025, with a total allocation of RM4.9 billion. These projects cover various sectors, including the construction of roads, bridges, and water and electricity supply. Among the completed key projects is the Sarawak Government Administration Centre in Sarikei, which houses the Resident's Office and various government agencies at a cost of over RM154 million.
The Star
13-05-2025
- Business
- The Star
Malaysia's wholesale, retail trade records RM154bil sales in March 2025
KUALA LUMPUR: Malaysia's wholesale and retail trade sector recorded total sales of RM154 billion in March 2025, marking a year-on-year (y-o-y) growth of 5.7 per cent, said the Department of Statistics Malaysia (DOSM). Chief statistician Datuk Seri Mohd Uzir Mahidin said the growth was driven by the retail trade and wholesale trade sub-sectors. "Retail trade recorded total sales of RM67 billion, an increase of RM4.2 billion or 6.6 per cent y-o-y. Wholesale trade registered total sales of RM67.8 billion in sales, up RM3.7 billion or 5.7 per cent y-o-y. "During the same period, the motor vehicles sub-sector posted sales of RM19.2 billion, reflecting a 2.3 per cent increase from a year ago," he said in a statement today. Mohd Uzir also emphasised that the growth in the retail trade sub-sector was supported by strong performance across various categories, spurred by festive season preparations and increased spending during Ramadan. He noted that the disbursement of Special Aidilfitri Assistance, along with RM1.7 billion under the Sumbangan Tunai Rahmah (STR), significantly boosted consumer activity. "This led to higher consumer traffic in supermarkets, shopping malls, and other retail outlets," he added. In March 2025, Mohd Uzir said the wholesale trade remained resilient, underpinned by strong domestic demand for household goods and food items, in conjunction with the festive season. Sales in the wholesale of household goods rose 7.6 per cent to RM14.5 billion, supported by higher demand in categories such as pharmaceutical and medical goods, perfumeries, cosmetics, toiletries, and jewellery. "The wholesale of food, beverages and tobacco also saw a 7.7 per cent increase, reaching RM14 billion," he said. Meanwhile, the motor vehicles sub-sector recorded growth compared to March last year, led by a 4.1 per cent rise in sales of motor vehicle parts and accessories to RM5.2 billion, followed by a 1.5 per cent increase in motor vehicle sales to RM10.1 billion. DOSM also reported that online retail sales rose by 7.1 per cent y-o-y in March, driven by festive promotions. "In terms of volume index, the wholesale and retail trade increased by five per cent y-o-y. This growth was mainly driven by the wholesale trade sub-sector, which rose by 6.3 per cent, followed by retail trade with a 4.9 per cent increase," it added. - Bernama
