Latest news with #RM2.13
New Straits Times
17 hours ago
- Business
- New Straits Times
Wawasan Dengkil rallies over 16pct, nears 25 sen IPO level
KUALA LUMPUR: Wawasan Dengkil Holdings Bhd surged more than 16 per cent in early trade, closing in on its initial public offering (IPO) price of 25 sen, a level it failed to hold on debut in March. The counter opened flat at 21 sen before climbing 16.67 per cent or 3.5 sen to a morning high of 24.5 sen, amid a broader market optimism that also saw a strong debut from Signature Alliance Group Bhd. The FTSE Bursa Malaysia KLCI also opened higher, gaining 2.73 points or 0.18 per cent to 1,510.70. Most sectoral indices were in the green, except energy, financial services, healthcare and telecommunications and media. By 11.34am, the earthworks and civil engineering firm had eased to 23.5 sen, still up 11.90 per cent with 3.57 million shares changing hands. Since its ACE Market debut on March 25, the stock has touched a low of 20.5 sen, after ending its first trading day two sen, or eight per cent, lower at 23 sen. The firm has breached the IPO price of 25 sen twice over the past 72 days, reaching a high of 25.5 sen, its highest level so far. Wawasan Degkil, which specialises in road, drainage and sewerage system construction, posted a net profit of RM2.13 million for its third financial quarter ended March 31, 2025. The earnings were lifted by contributions from its construction segment and lower depreciation costs in its machinery rental unit. Revenue came in at RM40.63 million, mainly from ongoing infrastructure projects such as the LRT Line 3, Sungai Long and Setia Alaman developments. No year-on-year comparisons were available as this marks Wawasan Dengkil's first financial disclosure since listing. As at end-March, the group held RM24.39 million in cash and bank balances. Total liabilities stood at RM96.09 million, including RM52.75 million in bank borrowings. The group said it remains focused on delivering its RM369.6 million order book, comprising 13 active projects. It also plans to pursue solar infrastructure jobs under the National Energy Transition Roadmap.
The Star
4 days ago
- Business
- The Star
Lagenda rides affordable housing wave into 2025
PETALING JAYA: Lagenda Properties Bhd is expected to see stronger sequential earnings momentum going forward, underpinned by continued steady demand for affordable housing. Phillip Capital Research expects the property developer's sales momentum to continue building sequentially, supported by its RM2.1bil in planned launches for 2025. 'Notably, Lagenda launched its RM4bil Johor Kulai township in April, which we anticipate to be a key sales driver for the group,' it said in a report. For the first quarter ended March 31, 2025 (1Q25), Lagenda's net profit rose to RM44.59mil from RM42.72mil a year ago, while revenue grew to RM264.4mil from RM225.62mi. Lagenda said the earnings reflected the strong market appeal of its well-planned and affordable township developments. In a filing with Bursa Malaysia, the property developer said it had kicked off the current financial year on a strong footing, recording confirmed sales of RM251.9mil in 1Q25. This was driven by robust contributions from Lagenda Aman in Tapah, Perak; La'Indera in Kuantan, Pahang; and Puncak Warisan in Kota Tinggi, Johor. 'As of March 2025, unbilled sales stood at a healthy RM898.9mil, with outstanding bookings of RM268.8mil, offering strong revenue visibility for the coming quarters.' The company said it remains optimistic about its latest developments planned for the current financial year and is confident that upcoming launches will solidify the group's position for a bright future. 'In 1Q25, we also marked our entry into a sixth state through a land acquisition in Senawang, Negri Sembilan. 'These expansions reflect our confidence in the long-term prospects of these regions and the growing demand for affordable, well-designed housing. 'We remain confident that our unique value proposition – combining quality with affordability – will continue to resonate with a broad range of homebuyers.' Going forward, the property developer said it will remain focused on executing its pipeline of launches and maintaining a disciplined landbanking strategy, targeting affordable land in strategic locations. UOB Kay Hian Research noted that Lagenda has revised its launch target from 4,000 to 8,000 units in 2025, driven by continued demand for affordable housing. 'Looking ahead, we expect a 30% year-on-year sales growth in 2025, driven by higher project launches and better construction progress from its new townships.' However, the research house lowered its earnings estimates for 2025 to 2027 by 13% to 15%, citing lower margin assumptions due to higher initial construction costs for township developments. 'We maintain (our) 'buy' call with a lowered target price (TP) by 16% to RM1.78 (from RM2.13), as we factor in a higher revised net asset value (RNAV) discount of 40% (from 30%), due to a more conservative margin environment in 2025 to 2026.' Meanwhile, Philip Capital Research maintained its earnings forecast for Lagenda, given the satisfactory results. It kept its 'buy' call and RNAV-derived TP of RM1.75 per share, based on a 30% RNAV discount. 'We continue to like Lagenda for its niche focus on affordable housing and its attractive 6% dividend yield for 2025.' The research house added that key risks to its 'buy' call include higher building material prices and lower-than-expected property sales.
New Straits Times
26-05-2025
- Business
- New Straits Times
Sabah's tourism sector surges ahead
KUALA LUMPUR: Sabah's tourism sector continues to be a vital pillar supporting Malaysia's economy and regional growth. Fuelled by the increasing appeal of community-based tourism and a focused strategy to diversify attractions and improve infrastructure, the sector is experiencing robust and sustained growth, said an industry observer. "With ongoing commitment to promotion and development, Sabah's tourism industry is firmly on a path toward long-term sustainability, making meaningful contributions to the state's economic prosperity and the safeguarding of its rich cultural heritage," he said. The year began with a surge in arrivals, as Sabah welcomed 923,709 visitors between January and March 2025—an 18.9 per cent increase compared to the same period in 2024. This total includes 366,727 international visitors and 556,982 domestic tourists, signalling growing interest in Sabah from both local and global travellers. Tourism receipts also saw a notable boost, reaching RM2.13 billion in the first quarter—a 17.7 per cent year-on-year increase. State Tourism, Culture and Environment Minister Datuk Seri Christina Liew reportedly said that these figures are a testament to Sabah's enduring appeal and its resilience within an increasingly competitive tourism landscape. Among key international markets, China remains the top contributor with 154,319 arrivals, followed by South Korea (57,995) and Brunei (45,469). Looking ahead, Sabah is optimistic about attracting between 3.2 million and 3.5 million visitors in 2025, supported by promising projections and continued investments in tourism development. To enhance the visitor experience, Sabah Tourism is preparing to roll out a series of new initiatives by year-end, aimed at captivating both new and returning travellers with fresh experiences and improved accessibility. Among Sabah's most iconic tourism highlights is Kaamatan, or the Harvest Festival—a vibrant annual celebration held at the end of May, deeply rooted in the traditions of the Kadazandusun, Murut, and Rungus indigenous communities. The festival is especially popular in Kota Kinabalu, Penampang, Tambunan, and Ranau, where travel packages, cultural tours, and homestays see high demand during this festive season. Central to Kaamatan is the Kadazandusun Cultural Association Sabah (KDCA), based at the Hongkod Koisaan Cultural Unity Centre in Penampang. Each year, KDCA welcomes locals and tourists to immerse themselves in the spirit of unity and cultural pride, culminating in two days of grand festivities on May 30 and 31—which are public holidays across Sabah. Beyond its cultural significance, Kaamatan serves as a powerful economic driver, generating revenue for local hotels, eateries, artisan markets, and small-scale farmers. Visitors can enjoy traditional cuisine, handmade crafts, music, dance, and rituals that celebrate the diverse heritage of Sabah's indigenous communities. With its unique blend of community-led experiences, cultural richness, and natural beauty, Sabah remains one of Malaysia's most compelling tourism destinations—offering something truly special for every traveller.
New Straits Times
20-05-2025
- Entertainment
- New Straits Times
#SHOWBIZ: Justin Bieber reportedly near financial ruin before RM850mil music catalogue sale
NEW YORK: Justin Bieber was reportedly on the verge of financial ruin before selling his music catalogue for US$200 million (RM853.92 million) two years ago. Sources close to the pop star told TMZ's "What Happened To Justin Bieber" that he was facing "financial collapse" when he made the sale to Hipgnosis Songs Capital. Bieber, 31, had reportedly spent the entirety of his estimated career earnings, ranging from US$500 million to US$1 billion (RM2.13 billion to RM4.27 billion). His manager, Scooter Braun, had reportedly advised him against such an early sale, suggesting Bieber wait until early 2023 to secure a tax advantage. Although the sale was not publicly reported until late January 2023, TMZ revealed that the Grammy winner completed the deal in December 2022, making him the youngest musician to sell his catalogue. Despite these reports, Bieber's team has denied claims of "financial distress" following the cancellation of much of his 2022 Justice world tour. They also refuted allegations that he owes Braun's company US$20 million (RM85.43 million). "Any source that is trying to sell you a story about alleged financial distress either doesn't understand the entertainment industry or, more likely, is trying to paint an unflattering portrait of Justin, which bears no resemblance to reality," Bieber's team informed The Hollywood Reporter.
New Straits Times
11-05-2025
- Business
- New Straits Times
Sabah sees tourism surge, earns RM2.13 billion from Jan to March this year
KOTA KINABALU: Sabah recorded RM2.13 billion in tourism receipts between January and March this year, said state Tourism, Culture and Environment Minister Datuk Seri Christina Liew. She added that the amount represents a 17.7 per cent increase compared to the same period in 2024. Liew also said the tourism industry had a strong start in the first quarter of this year, with a total of 923,709 visitors recorded. "Of the total, 366,727 were international arrivals, while 556,982 were domestic visitors. "China remains Sabah's top international market with 154,319 Chinese visitors, followed by South Korea (57,995 visitors) and Brunei (45,469 arrivals)," she said during the official opening of the 2025 Sabah Malaysian Association of Tour and Travel Agents (MATTA) Fair here yesterday. Liew said that at the recently concluded MATTA in Kuala Lumpur in April, Sabah recorded RM4.5 million in sales, a notable increase from the RM3 million achieved in September 2024. "This growth clearly reflects the strong demand and rising appeal of our Culture, Adventure and Nature tourism products," Liew said, adding island hopping packages and visits to the Mari Mari Cultural Village were the most sought after among visitors. Through MATTA Fair in Kuala Lumpur, Sabah has also launched the "Top 5 Mountains in Sabah" campaign to further position Sabah as an adventure tourism hub in Southeast Asia. "Peaks such as Mount Kinabalu, Mount Trus Madi and Mount Tambuyukon are just some of the highlights under this campaign, and we look forward to welcoming more climbers and trekkers in the months ahead."
