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The Sun
2 days ago
- General
- The Sun
Putra Heights fire: Rental assistance extended until next year
SHAH ALAM: The Selangor government will continue providing rental assistance to victims of the gas pipeline explosion in Putra Heights, Subang Jaya, at least until April next year. State Housing and Culture Committee chairman Datuk Borhan Aman Shah said the decision to continue the RM2,000 monthly rental assistance was made to ensure that victims have appropriate shelter until their homes are repaired. 'Initially, the state government agreed to provide rental support for six months, but we have decided to extend it for up to a year or more, especially for homes that were completely destroyed, as rebuilding will take time,' he said. 'For houses that were partially damaged, assistance will also continue until repairs are fully completed. The aid will only be discontinued once the occupants are able to return to their homes,' he said in a statement today. He added that the Selangor government will monitor the repair progress of each affected home to ensure that assistance is distributed efficiently under the allocated funding. On April 30, Menteri Besar Datuk Seri Amirudin Shari announced that the Selangor government had allocated RM2.73 million in rental assistance for 455 families affected by the incident, covering six months from April onwards. The Petronas gas pipeline fire, which occurred in Putra Heights at 8.10 am on April 1, sent flames soaring over 30 metres high, with temperatures reaching up to 1,000 degrees Celsius. The blaze took nearly eight hours to extinguish and left a 9.8-metre-deep crater at the site.
New Straits Times
2 days ago
- Business
- New Straits Times
Selangor extends rental aid for Putra Heights blast victims to one year
SHAH ALAM: The Selangor government has extended its rental assistance programme for victims of the gas explosion in Putra Heights to up to one year. State Housing Committee chairman Datuk Borhan Aman Shah said the RM2,000 monthly rental aid would be continued to ensure victims had proper shelter until their homes were fully rebuilt. "The state government had previously agreed to cover six months' rental for the victims, starting in April. "However, we have decided to extend the assistance to one year or more, especially for those whose homes were completely destroyed, as rebuilding will take more time," he said today. It was previously reported that the Selangor government had allocated RM2.73 million to provide rental support to 455 families affected by the gas pipeline explosion and fire in Putra Heights in early April. The April 1 incident left 81 houses completely destroyed with more than 40 per cent structural damage, another 81 houses partially damaged, 57 affected but not burned, while 218 homes, including those in Kampung Tengah, Puchong, were left unscathed. Borhan added that for homes which sustained partial damage, the rental assistance would continue until repairs were completed. "Some houses may take up to seven or eight months to be repaired. For homes that were only slightly damaged and have already been restored, assistance will be discontinued once the families move back in. "We will monitor each stage of the repair work to coordinate the aid effectively. In total, we estimate over RM4 million will be spent on rental subsidies for the affected victims," he said.
The Star
2 days ago
- General
- The Star
Putra Heights inferno: Rental assistance to go on to next year
SHAH ALAM: The Selangor government will continue providing rental assistance to victims of the gas pipeline explosion in Putra Heights, Subang Jaya at least until April next year. State Housing and Culture Committee chairman Datuk Borhan Aman Shah said the decision to continue the RM2,000 monthly rental assistance was made to ensure that victims have appropriate shelter until their homes are repaired. "Initially, the state government agreed to provide rental support for six months, but we have decided to extend it for up to a year or more, especially for homes that were completely destroyed, as rebuilding will take time," he said. "For houses that were partially damaged, assistance will also continue until repairs are fully completed. The aid will only be discontinued once the occupants are able to return to their homes,' he said in a statement today. He added that the Selangor government will monitor the repair progress of each affected home to ensure that assistance is distributed efficiently under the allocated funding. On April 30, Menteri Besar Datuk Seri Amirudin Shari announced that the Selangor government had allocated RM2.73 million in rental assistance for 455 families affected by the incident, covering six months from April onwards. The Petronas gas pipeline fire, which occurred in Putra Heights at 8.10 am on April 1, sent flames soaring over 30 metres high, with temperatures reaching up to 1,000 degrees Celsius. The blaze took nearly eight hours to extinguish and left a 9.8-metre-deep crater at the site. - Bernama
New Straits Times
3 days ago
- Business
- New Straits Times
Mah Sing's growth intact despite data centre delay
KUALA LUMPUR: Analysts remain upbeat on Mah Sing Group Bhd's outlook, citing steady property sales and resilient fundamentals, despite the company missing a deadline to formalise its data centre (DC) deal with Bridge Data Centres (BDC). RHB Investment Bank, CIMB Securities, Hong Leong Investment Bank (HLIB Research), and BIMB Securities have all maintained their "Buy" or "Add" calls, citing the group's solid fundamentals and long-term growth prospects. RHB Investment, which trimmed its target price to RM1.83 from RM2.16, said Mah Sing's first-quarter results were within expectations and highlighted the potential of its Southville City land in Bangi as a strategic DC location. "Although Mah Sing did not sign the definitive agreement with BDC within the required timeline, the land remains highly strategic," it said. CIMB Securities, which lowered its target price to RM1.90 from RM2.10, said the lapse in exclusivity now allows Mah Sing to pursue discussions with other parties. The firm said Mah Sing "remains committed to unlocking value from its sizeable landbank." BIMB Securities echoed the positive sentiment, citing RM1.01 billion in property sales in the first five months of 2025, driven by strong take-up rates at projects such as M Nova and M Legasi. It set a target price of RM2.02. HLIB Research noted that unbilled sales of RM2.73 billion provide earnings visibility into 2025 and revised its target price to RM1.85 from RM2.05. Mah Sing has lined up RM3.3 billion worth of new launches this year and is on track to achieve its full-year sales target of RM2.65 billion. Despite the BDC setback, analysts said the stock offers strong upside potential, with RHB Investment estimating a total return of nearly 84 per cent, including dividends. "Investors should look beyond the noise and focus on Mah Sing's proven execution and product-market fit," the firm said.
New Straits Times
27-05-2025
- Business
- New Straits Times
IOI Corp 3Q net profit soars to RM262.3mil on strong plantation performance
KUALA LUMPUR: IOI Corporation Bhd's net profit for the third quarter ended March 31, 2025 (3Q) jumped by 113 per cent to RM262.30 million from RM123.10 million in 3Q a year ago. The rise in profit was due mainly to higher contribution from the plantation segment, partially offset by lower contribution from the resource-based manufacturing segment. Revenue increased by 11 per cent to RM2.73 billion from RM2.46 billion in the same period a year ago, said the leading global integrated and sustainable palm oil player in a filing with Bursa Malaysia. The plantation segment's 3Q profit before tax (PBT) of RM310.6 million was 27 per cent higher than 3Q PBT a year ago of RM244.9 million, due to higher crude palm oil (CPO) and palm kernel prices realised and higher share of results from associates, but was partially offset by higher CPO stock level, lower fresh fruit bunches (FFB) production and lower oil extraction rate. "The resource-based manufacturing segment profit in the quarter reviewed was RM71.1 million as compared to profit in 3Q of RM44.4 million previously, due mainly to reduced contribution from the oleochemical sub-segment with lower sales volume and lower share of results from associate, but was partially mitigated by higher contribution from the refinery sub-segment with higher margin," IOI Corp said. For the cumulative nine-month period, the group posted a higher net profit of RM1.08 billion from RM762.50 million in the same period a year ago, while revenue increased to RM8.37 billion from RM7.06 billion previously. IOI Corp projects the CPO price to range between RM3,700 and RM4,000 per tonne for the rest of its financial year ending June 30, 2025 (FY2025). For the plantation segment, FFB production for 4Q FY2025 is expected to recover significantly over 3Q FY2025, and anticipates that this higher FFB production will help sustain a steady financial performance, despite the lower CPO price expected for 4Q FY2025. "Overall, the group expects its operating and financial performance for 4Q FY2025 to be satisfactory," it added. -- BERNAMA
