Latest news with #RM2.34
New Straits Times
04-06-2025
- Health
- New Straits Times
Airlines address surge in in-flight theft as concerns grow
NEW DELHI: The theft of personal belongings aboard aircraft is an increasing concern in several regions, prompting the global airline trade body to convene discussions in the coming weeks on how best to tackle the issue. Nick Careen, senior vice-president for operations, safety, and security at the International Air Transport Association (IATA), said reports from member airlines suggest that incidents of in-flight theft have grown more prevalent on certain routes over the past 12 to 18 months. This trend coincides with the resurgence of international air travel following the pandemic, The Straits Times reported. "Our security advisory group is planning to meet in the next week or two to discuss what we could potentially do to better manage this – out of China mostly, where it seems to be very organised," he told the media on June 3. Speaking at IATA's annual general meeting in New Delhi, India, Careen also addressed a range of aviation safety concerns, including turbulence, shortcomings in accident reporting, and GPS jamming and spoofing in proximity to conflict zones. He said: "We're still the safest mode of transportation... However, we never rest on our laurels in aviation. There are headwinds. There are things that we need to keep an eye on." On in-flight theft, Careen said he did not want to point fingers, but the concern is the degree of organisation in recent cases. "How we deal with that, whether it's security on board or cooperation from local governments in terms of the appropriate penalties... those are the types of things that we will see come out of this," he added. Reports of theft on board flights to various Asian cities have been increasing. In the first ten months of 2024, Hong Kong recorded 169 such incidents, involving HK$4.32 million (RM2.34 million) worth of valuables—marking a 75 per cent rise compared to the same period in 2023. Tokyo's Narita International Airport also reported a recent spike in in-flight thefts. In Singapore, four people were charged over in-flight theft between January 2023 and September 2024, CNA reported in January. Most recently, Chinese national Zhang Kun, 51, pleaded guilty in May to stealing a credit card and more than RM658 in cash from a fellow passenger on an overnight Scoot flight from Kuala Lumpur to Singapore in March. Airlines have tightened restrictions on power bank use due to concerns about aircraft fires, following incidents such as the Air Busan blaze in South Korea in January. Singapore Airlines, Scoot, and carriers across South Korea, Taiwan, Thailand, Malaysia, and Hong Kong banned their use and charging in April, while Southwest Airlines in the US implemented stricter rules in May. While airlines are justified in adjusting safety procedures based on their own risk assessments, IATA cautions against reactionary measures, as there has been no significant increase in onboard fires. Standardised safety protocols should be established through regulatory reviews by the International Civil Aviation Organisation, which is currently assessing the issue. Turbulence remains the leading cause of accidents aboard aircraft, prompting IATA to enhance real-time data-sharing through its Turbulence Aware platform, now used by 28 airlines. Although turbulence incidents have risen, this is largely due to increased reporting rather than a genuine surge in occurrences. High-profile events such as the severe turbulence experienced by Singapore Airlines' Flight SQ321 in May 2024, which resulted in a passenger fatality, have amplified concerns. However, it is still too early to determine whether climate change is directly influencing turbulence trends. Careen urged governments to improve accident reporting standards, highlighting inconsistencies in investigations. He pointed out that 107 investigations from 2018 to 2023 remain incomplete, with 234 fatalities recorded. He stressed the importance of thorough reporting, as understanding past accidents is critical in preventing future incidents. The politicisation of investigations, as well as labour and technical challenges, continue to hamper progress. While some delays are understandable, a lack of clear reasons for incomplete investigations remains a problem. Despite an overall decline in accident rates, onboard fatalities saw a significant increase in 2024. According to IATA, there were 1.13 accidents per million flights, below the five-year average of 1.25. However, the number of deaths surged to 244 from 72 in 2023. The fatality risk of 0.06 in 2024, although lower than the five-year average of 0.1, underscores the need for ongoing safety improvements. These figures highlight the importance of continuous efforts to enhance aviation safety through data-driven strategies and regulatory oversight.
New Straits Times
09-05-2025
- Business
- New Straits Times
Penang eyes leadership in regional jewellery trade as global gold prices surge
GEORGE TOWN: With the shifting global trade landscape, there has never been a better moment to position Penang as a key player and even a leader in the regional jewellery industry. According to Chief Minister Chow Kon Yeow, as the global economic tide shifts — driven by ongoing geopolitical tensions, trade realignments and the recent imposition of the United States' tariffs on selected countries — Penang finds itself in a new and uncertain global landscape. "But where some see volatility, we in Penang see opportunity. Several of these developments have contributed to a remarkable surge in global gold prices, which recently topped USD 3,000 per ounce. This isn't just market fluctuation — it's a signal. "Gold, once again, is proving its timeless value as a secure and reliable investment, especially during periods of economic turbulence. "We want Penang not only to sparkle as a global exhibition host, but to lead as the national champion in gold and jewellery production. We believe in our local talent and in our SMEs' ability to rise and shine — and we stand ready to support them," he said at the opening of the Malaysia Gold & Jewellery Trade Exhibition 2025. Several top-tier international exhibitors — including Emirates Gold, Emirates Minting, Shangpinjin and many more from across China, Hong Kong, Singapore, the UAE, Australia, Ireland, India, Myanmar, and Pakistan — participated in this year's event. In fact, 25 per cent of this year's exhibitors hailed from overseas, reinforcing Penang's reputation as a trusted and dynamic meeting point for the global jewellery trade. Elaborating, Chow said the focus should be on nurturing domestic-driven investment, creating a robust ecosystem where homegrown creativity and technical mastery could flourish. In April 2025, gold prices reached unprecedented levels, surpassing $3,500 per ounce, a more than 31 per cent increase since the beginning of the year. According to the Department of Statistics Malaysia, jewellery imports reached RM1.519 billion in just the first two months of 2025 — an 18.39 per cent increase from the same period last year. Exports went up by 14.75 per cent to RM1.478 billion. Chow said these figures did not just reflect robust demand — they reaffirmed Malaysia's growing role in the global jewellery supply chain. Meanwhile, Federation of Goldsmiths and Jewellers Association of Malaysia (FGJAM) president Datuk Chiah Hock Yew said Penang and Seberang Prai were not only the core regions of gold manufacturing in Malaysia, but also possessed great potential to become a centre for regional gold trade. Currently, about 80 per cent of gold manufacturing factories in the country were concentrated in this region. According to data released by the Department of Statistics Malaysia on April 18, the total export value of gold-related products in Q1 2025 reached RM2.34 billion, a 9.76 per cent increase from RM2.132 billion in the same period last year.
New Straits Times
05-05-2025
- Business
- New Straits Times
Modest price impact projected as egg subsidy winds down
KUALA LUMPUR: The partial removal of egg subsidy effective this month before the full phasing out in August will provide some comfort to investors and poultry stocks, said industry observers. They also said the government's move to remove egg subsidies stems from a stabilised supply and a current oversupply in the market. Shares of most poultry stocks such as PWF Corp Bhd, Lay Hong Bhd and Leong Hup International Bhd rose after the egg subsidy was reduced by half effective from May 1. Last Friday, PWF rose to 82 sen from 79.5 sen on a volume of 445,500 shares, valuing the company at RM260.65 million. Lay Hong edged up one sen to 34.5 sen, with 3.8 million shares changing hands, pushing its market capitalisation to RM261.5 million. Leong Hup recorded the highest trading activity among poultry counters, gaining 1.5 sen to close at 64 sen with 12.3 million shares traded. The company now has a market capitalisation of RM2.34 billion. QL Resources Bhd, the largest among poultry counters, remained unchanged at RM4.80 despite 3.4 million shares traded, maintaining a market cap of RM17.52 billion. Price Downtrend Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said average egg prices have been on a downward trend. As of February, he said the average prices of hen's egg grade A, B and C dropped to RM4.40 per 10 eggs, RM4.20 per 10 eggs and RM4.00 per 10 eggs respectively. "This represents a decline of 11.2 per cent, 13.0 per cent and 11.8 per cent year-on-year respectively. "Clearly that this has opened up the window of opportunity for the government to remove the subsidies since the prices are on a downward trend," he told Business Times. Afzanizam noted that companies in the egg production industry seem to be performing well despite the decline in average selling prices. He pointed out that Leong Hup recorded a net profit of RM428.93 million for the financial year ended December 2024, up from RM301.74 million the previous year. "Agriculture and Food Security Minister Datuk Seri Mohamad Sabu has indicated that his ministry is reviewing the current subsidy structure and if rationalised, it would allow a monthly savings of RM100 million to the government. "In a grand scheme of things, timing to roll out such subsidy rationalisation also matters with the prevailing average prices on a declining trend," he added. Motivation and Diversification Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan said removing the subsidies provides motivation for the industry to be more competitive and diversify its egg offerings. He explained that the previous price ceiling had limited the industry's ability to grow and expand. "Overall, I believe it's a positive step for the industry. For consumers, yes, there will be a price increase, but we also cannot rely on subsidies forever, it costs the government nearly RM1 billion a year to subsidise eggs. "This move benefits all parties: consumers, the industry and the government, which can now redirect that RM1 billion to other more practical and important needs," Azmi said when contacted. He said the move can also reshape industry operations as producers are now able to turn a profit without the limitations of a price ceiling, allowing them to innovate and introduce a wider range of egg varieties. "Previously, the price gap hindered competitiveness and innovation. With this change, profit margins will improve - but it depends on how the industry responds and innovates moving forward. "The end of this subsidy, which if we can read it more properly, the end of the price gap of eggs, will create a more competitive and efficient industry with more variety of eggs for consumers to choose from," Azmi added. Azmi cautioned that the government should move carefully when withdrawing other food subsidies, as food prices are a key factor in calculating inflation. "If subsidies are removed too quickly, food prices may spike, driving inflation higher. So the government must carefully assess which food subsidies to end, and when," he said. Impact on Margins Tradeview Capital fund manager Neoh Jia Man said the removal of the egg subsidy could negatively affect the profit margins of larger producers that have been reliant on subsidies. "While these producers may attempt to raise prices to offset the loss, the current oversupply in the market could limit their ability to do so," he added. Neoh said the subsidy removal is unlikely to create clear beneficiaries, noting that pure egg producers such as Teo Seng Capital Bhd, TPC Plus Bhd and LTKM Bhd are likely to be among the hardest hit. "We also do not anticipate any positive spillover effects. In fact, the combination of oversupply and subsidy withdrawal may prompt producers to rationalise output over the medium term, potentially leading to reduced logistics volumes from the sector," he added. In its statement last Wednesday, the Agriculture and Food Security Ministry said highlighted that nearly RM2.5 billion was spent on egg subsidies between February 2022 and December 2024. The previous subsidy was set at 10 sen per egg, with ceiling prices capped at 42 sen, 40 sen and 38 sen for Grade A, B and C eggs respectively. This translated into retail prices of RM12.60, RM12.00, and RM11.40 per tray of 30 eggs. Modest Price Increase? TA Securities said based on the Department of Veterinary Services data, retail egg prices ranged from 42-46 sen each between July and October 2022, when subsidies were not in place. Since eggs continue to be the most affordable source of protein, the firm expects the price impact from the full subsidy removal in August 2025 to be modest. It estimates an increase of only two-four sen per egg, mainly driven by cost pass-throughs rather than fundamental changes in supply or demand. As such, the firm forecasts retail egg prices to remain rangebound around 41-45 sen per egg in the near term, similar to 2022 levels when the 5.0 sen subsidy was still in effect. TA Securities noted that Malaysia's annual egg consumption averages 11.6 billion units, translating to about 968.0 million eggs per month. On the supply side, production reached 16.7 billion eggs in 2023, reflecting a 15.8 per cent yea-on-year increase, indicating a healthy oversupply in the market. The country's poultry egg self-sufficiency ratio has consistently exceeded 100 per cent, it added. It expects supply to remain resilient despite the subsidy withdrawal, with demand continuing to hold firm as eggs remain the most cost-effective protein source for consumers.
Yahoo
24-02-2025
- Business
- Yahoo
Estimating The Intrinsic Value Of Matrix Concepts Holdings Berhad (KLSE:MATRIX)
The projected fair value for Matrix Concepts Holdings Berhad is RM1.37 based on Dividend Discount Model With RM1.49 share price, Matrix Concepts Holdings Berhad appears to be trading close to its estimated fair value Our fair value estimate is 41% lower than Matrix Concepts Holdings Berhad's analyst price target of RM2.34 Today we will run through one way of estimating the intrinsic value of Matrix Concepts Holdings Berhad (KLSE:MATRIX) by projecting its future cash flows and then discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. Check out our latest analysis for Matrix Concepts Holdings Berhad As Matrix Concepts Holdings Berhad operates in the real estate sector, we need to calculate the intrinsic value slightly differently. Instead of using free cash flows, which are hard to estimate and often not reported by analysts in this industry, dividends per share (DPS) payments are used. This often underestimates the value of a stock, but it can still be good as a comparison to competitors. We use the Gordon Growth Model, which assumes dividend will grow into perpetuity at a rate that can be sustained. The dividend is expected to grow at an annual growth rate equal to the 5-year average of the 10-year government bond yield of 3.6%. We then discount this figure to today's value at a cost of equity of 12%. Compared to the current share price of RM1.5, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. Value Per Share = Expected Dividend Per Share / (Discount Rate - Perpetual Growth Rate) = RM0.1 / (12% – 3.6%) = RM1.4 We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Matrix Concepts Holdings Berhad as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 12%, which is based on a levered beta of 1.339. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Strength Earnings growth over the past year exceeded its 5-year average. Debt is well covered by earnings. Dividend is in the top 25% of dividend payers in the market. Weakness Earnings growth over the past year underperformed the Real Estate industry. Opportunity Annual revenue is forecast to grow faster than the Malaysian market. Good value based on P/E ratio compared to estimated Fair P/E ratio. Threat Debt is not well covered by operating cash flow. Paying a dividend but company has no free cash flows. Annual earnings are forecast to grow slower than the Malaysian market. Although the valuation of a company is important, it ideally won't be the sole piece of analysis you scrutinize for a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Matrix Concepts Holdings Berhad, there are three essential elements you should consider: Risks: For instance, we've identified 2 warning signs for Matrix Concepts Holdings Berhad (1 is significant) you should be aware of. Future Earnings: How does MATRIX's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the KLSE every day. If you want to find the calculation for other stocks just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
