Latest news with #RM2.95
The Sun
4 days ago
- Business
- The Sun
Mitsubishi Electric donates 7.4m Japanese yen for Myanmar quake
KUALA LUMPUR: Mitsubishi Electric Corporation has donated a total of 7.4 million Japanese yen to support relief efforts for victims of the earthquake that struck Myanmar on March 28 through its in-house matching-gift initiative, the Mitsubishi Electric SOCIO-ROOTS Fund. (100 Japanese yen = RM2.95) In a statement, the company said donations were collected from employees across Mitsubishi Electric Group offices, amounting to 3.7 million Japanese yen, which was then matched by the company. The full amount was donated on May 30 to Save the Children Japan's disaster response programme in Myanmar. The latest contribution follows a separate 10 million Japanese yen corporate donation announced by the company on April 7. The Mitsubishi Electric Group extends its deepest sympathies to those affected by the disaster and expresses its sincere hopes for a swift recovery. Established in 1992, the SOCIO-ROOTS Fund allows Mitsubishi Electric employees in Japan — and occasionally worldwide — to support welfare-related facilities and programmes, as the fund is part of the group's commitment to social responsibility and community support.
The Sun
4 days ago
- Business
- The Sun
Mitsubishi Electric donates 7.4m Japanese yen for Myanmar quake relief
KUALA LUMPUR: Mitsubishi Electric Corporation has donated a total of 7.4 million Japanese yen to support relief efforts for victims of the earthquake that struck Myanmar on March 28 through its in-house matching-gift initiative, the Mitsubishi Electric SOCIO-ROOTS Fund. (100 Japanese yen = RM2.95) In a statement, the company said donations were collected from employees across Mitsubishi Electric Group offices, amounting to 3.7 million Japanese yen, which was then matched by the company. The full amount was donated on May 30 to Save the Children Japan's disaster response programme in Myanmar. The latest contribution follows a separate 10 million Japanese yen corporate donation announced by the company on April 7. The Mitsubishi Electric Group extends its deepest sympathies to those affected by the disaster and expresses its sincere hopes for a swift recovery. Established in 1992, the SOCIO-ROOTS Fund allows Mitsubishi Electric employees in Japan — and occasionally worldwide — to support welfare-related facilities and programmes, as the fund is part of the group's commitment to social responsibility and community support.
New Straits Times
21-04-2025
- Business
- New Straits Times
PublicInvest deems EcoWorld Malaysia's RM572.8mil land deal in Negri Sembilan fair
KUALA LUMPUR: Public Investment Bank Bhd (PublicInvest) views Eco World Development Group Bhd's (EcoWorld Malaysia) RM572.8 million land acquisition in Negri Sembilan as fair, representing about 19.4 per cent of the proposed industrial development's total gross development value (GDV) of RM2.95 billion. At this juncture, PublicInvest said there are no changes to its earnings estimates for EcoWorld Malaysia, pending further details on the project's official launch. The research house has maintained a Neutral rating on the stock, with a target price of RM1.90, reflecting a 10 per cent premium to book value. This outlook is supported by the developer's track record of consistent profitability and attractive dividend yield. EcoWorld Malaysia has officially entered into a joint venture with SD Guthrie Bhd and Negri Sembilan's state investment arm, NS Corporation, following the signing of a formal agreement last Friday. This move formalises the memorandum of understanding announced in late 2024. The three parties will collaborate to develop a 1,166-acre industrial park in Bukit Pelanduk, Negri Sembilan. The project, to be named Eco Business Park VII, will be undertaken by a newly established joint-venture company. Under this structure, EcoWorld Malaysia will hold a 55 per cent stake, SD Guthrie Land Ventures Sdn Bhd (a wholly owned subsidiary of SD Guthrie) will own 30 per cent, while NS Corporation will take the remaining 15 per cent. This marks EcoWorld Malaysia's maiden foray into Negri Sembilan's industrial park segment. The site is strategically located within the Malaysia Vision Valley 2.0 economic corridor and is envisioned as a fully integrated, master-planned industrial hub with complementary commercial components. Eco World Project Management Sdn Bhd, a wholly owned subsidiary of EcoWorld Malaysia, is expected to be appointed as the development manager. PublicInvest highlighted that industrial development remains a key revenue stream for EcoWorld Malaysia. From FY2014 through to Feb 28, 2025, the group has recorded cumulative industrial sales of RM6.7 billion across its Eco Business Parks. To date, more than 1,400 local and international firms operate within these parks. In the first four months of FY2025 alone, EcoWorld Malaysia recorded close to RM1 billion in industrial sales, driven by two major land transactions signed in February 2025 with global technology giants. It sold 138.532 acres in Eco Business Park I to Microsoft Payments (Malaysia) Sdn Bhd, and 58.187 acres in Eco Business Park V to Pearl Computing Malaysia Sdn Bhd. "As such, we believe the group's track record in the execution of industrial parks speak for itself and we are positive that demand for its industrial offerings would continue to be healthy," PublicInvest said.
