Latest news with #RM18.6mil
The Star
a day ago
- The Star
Debtors given ‘funerals'
Under torment: Chong (seated, left) and Ivan (right) holding a conference alongside the three ah long victims in Kuala Lumpur. Loan sharks hold mock wakes in new intimidation tactic KUALA LUMPUR: They used to issue threats, throw paint and even firebomb homes. Now, ah long have gone one step further – they are 'killing' borrowers. Well, not literally. Instead, they are holding 'elaborate funerals' for the defaulters and posting their actions on social media, reveals Datuk Seri Michael Chong. The MCA Public Services and Complaints Department head said a victim by the name of Tan saw a portrait of himself in a wake setting, with curses hurled using a joss stick shared on Facebook. It caused confusion about his death and embarrassment for Tan. It is also taboo for the Chinese to have a funeral when they are alive. 'The man had borrowed RM10,000 in February for his business and had paid RM6,000. 'Previously he had taken five different loans totalling RM50,000, all of which had been settled. 'On June 26, the ah long sent him a picture of a staged wake, which has since been deleted. 'This kind of intimidation shows how low they can go. They are using psychological fear against borrowers,' he said at Wisma MCA yesterday. Chong also spoke about another man named Chan, who is facing constant demands to pay more from a suspected runner going by the name of Kai Qiang. 'The man had borrowed RM700 but paid RM1,000 to Kai Qiang. 'I suspect that this person, who is a runner, has gone rogue without the knowledge of the boss. 'We have a duty to expose such individuals because some of these money lenders are legitimate,' he said. Chan had borrowed from nine different loan sharks, and has settled two on his own. For the remaining seven, he has managed to settle RM4,800 out of RM12,500. In another case, Chong said a mother had disowned her son Chang Kok Wah, 37, from Cheras who left home on June 17, leaving his mother and family members to face threats from ah long. Faced with demanding phone calls and threats to kidnap her grandchildren, Kuek Bee Bee, 63, from Cheras pleaded for the harassment to stop. 'Madam Kuek paid RM13,000 of the debts in May, but the son borrowed more. They don't know his whereabouts since he left. 'The family was even locked out of their home with an iron chain and padlock with a note instructing them to contact several numbers. The family lodged three reports in June,' Chong said. As of June, the MCA has received 165 ah long related cases involving a sum of RM18.6mil of which over 85% are from the Chinese community, Chong added. The bureau's deputy chief Ivan Tan said stricter laws were needed to address the issue of loan sharks.
The Star
17-06-2025
- Business
- The Star
Apollo Food ends FY25 on a high note, eyes continued growth
File pic – Apollo Food website KUALA LUMPUR: Apollo Food Holdings Bhd aims to continue the rationalisation of its manufacturing facilities and the execution of its capacity expansion plans in the financial year ending April 30, 2026 (FY26). 'These initiatives are key to enhancing productivity and maximising cost efficiency, setting the stage for further growth. That said, we remain cautious of ongoing fluctuations in raw material prices as well as broader macroeconomic uncertainties, and will continue to manage input costs and operating risks prudently,' managing director Cheah Jia Ming said in a statement. In the fourth quarter ended March 30, 2025 (4Q25), Apollo's net profit jumped 50.1% to RM9.4mil, or 11.82 sen per share, bringing FY26 profit to RM40.2mil, or 50.22 sen per share. The confectionery maker's Revenue in 4Q25 rose 28.1% to RM73.3mil, bringing its full-year revenue to a record of RM298.4mil. Apollo said that, excluding a non-operational gain of RM18.6mil from the disposal of properties in the previous financial year, its FY25 net profit rose 13% year-on-year, marking the highest operational net profit in the group's history. The company also declared a second interim dividend of 20 sen per share, payable on July 23. Together with the first interim dividend of 30 sen paid earlier in the financial year, the total dividend payout ratio for FY25 stands at 100%. Cheah said that in the coming financial year, the company will implement marketing plans aimed at re-engaging with the market in a more significant way. 'After many years of subdued branding activities, Apollo will be stepping up its presence through refreshed marketing initiatives and improved product visibility. 'Consumers can expect to see more of our products on shelves, supported by stronger brand visibility and engagement. These efforts are part of our strategy to strengthen brand relevance and deepen our connection with the next generation of consumers', he added.
