Latest news with #RM2.9mil
The Star
3 days ago
- Business
- The Star
MBI needs RM4.25mil to complete roof project for Gerbang Malam night market
At Ipoh's Gerbang Malam night market, 185m has roofing while funding is needed to complete the project. — RONNIE CHIN/The Star THE second phase of roof construction for Gerbang Malam along Jalan Dato Tahwil Azar is 85% complete, says Ipoh mayor Zamakhshari Hanipah. He said the roof had been designed with adequate height clearance to avoid obstructing nearby commercial units and shoplots. 'The city council is committed to conducting an immediate survey of the night market site, to assess the current situation and ensure the needs of traders and visitors are taken into account in further planning,' he said. It was previously reported that traders at the site had complained that part of the roof had yet to be put up, causing them to lose business during the rainy season. Zamakhshari said the roof design would address this issue. The first phase of the project, which involved building the roof over 185m of the night market area, was completed in April 2023 at a cost of RM2.9mil, with RM2.6mil coming from the Federal Government and an additional RM300,000 from the city council. 'Work on the second phase began on Oct 14 last year,' said Zamakhshari. He noted that another 171m-long stretch was still without a roof, due to funding constraints. He said MBI had submitted a RM4.25mil funding request to the Prime Minister's Office and the Ministry of Tourism, Arts and Culture for the implementation of Phase 3. 'It includes the construction of additional roofing, the installation of industrial fans and improvements to pedestrian walkways. 'We will continue working to secure additional funds to complete the project for the well-being of traders and the comfort of visitors.' He said MBI was optimistic the request would be approved, adding that 'MBI is committed to overseeing this project comprehensively.' Zamakhshari said MBI was focused on prioritising traders' welfare, enhancing Gerbang Malam's image as a tourist attraction and ensuring that every development project would benefit Ipoh residents. 'MBI deeply appreciates the patience and support of all parties in our efforts to build a more progressive and prosperous city,' he said. Gerbang Malam is one of Ipoh's key tourist attractions where small and medium-sized traders operate daily from 6pm to midnight.
The Star
6 days ago
- Business
- The Star
HE Group holds RM990mil in tenders despite market slump
PETALING JAYA: Despite HE Group Bhd 's results being in line with expectations, Phillip Capital Research is cutting its forecast of the company's earnings to account for lower order book replenishment amid a prolonged semiconductor market downturn. The research house said the mechanical, electrical and process contractor's tender book remains healthy at RM990mil, primarily consisting of data centres (80%) and utility-infrastructure (12%) projects. 'However, the timing of contract awards remains the biggest uncertainty, with management guiding for the third quarter of this year (3Q25). 'Given the continued delay in project awards, we revise our 2026 to 2027 order book replenishment forecast to between RM200mil and RM250mil (from between RM250mil and RM300mil) and cut earnings forecasts by between 12% and 15%,' the research house added. HE Group is an electrical engineering service provider focusing on power distribution systems for end-user premises such as industrial plants and industrial and commercial substations. The group recorded 1Q25 core net profit of RM2.9mil, while revenue declined by 51% year-on-year to RM32mil, weighed down by the power distribution and building systems segments. This mitigated the stronger performance from its electrical equipment hook-up and retrofitting services. 'The 1Q25 earnings before interest, tax, depreciation and amortisation margin improved 3.6 percentage points, attributable to a more favourable revenue mix from the higher-margin electrical equipment hook-up and retrofitting segment. 'Overall, 1Q25 results were in line with our expectations, accounting for 24% of our full-year forecasts for this year,' Phillip Capital Research said. The research house said it was raising its 12-month target price to 45 sen pfrom 44 sen after rolling forward its valuation horizon and slashing the target price-earnings (PE) multiple to 12 times from the previous 16 times. 'The lower PE multiple reflects a more cautious view, taking into consideration the softer market sentiment, and is in line with small and mid-cap valuations. 'Despite the absence of a near-term catalyst, the stock is trading below minus one standard deviation since listing,' the research house said. Phillip Capital Research maintained its 'buy' rating on the stock. 'Key risks include slower-than-expected order book replenishment, unforeseen project delays, and cost overruns,' the research house said.
The Star
27-05-2025
- The Star
Chinese student fined for fake kidnapping scam
KUALA LUMPUR: A university student from China was fined RM17,000 by the Sessions Court for staging a fake kidnapping to extort a RM2.9mil ransom from his friend's mother. Sessions Court judge Azrul Darus sentenced Zhang Runbao, 23, after he changed his plea during the case mention on Tuesday (May 27). Zhang – who is studying at a Singaporean university - pleaded guilty to an alternative charge. Judge Azrul also ordered Zhang to serve six months in jail if he fails to pay the fine. According to the charge, Zhang cheated Cheng Zhiwen, the mother of his friend Ye Yingxi, by staging a kidnapping. In a video, Ye appeared half-naked, with his hands tied, mouth taped, and was choked and stomped on, with water poured on his face. The accused demanded a ransom of five million Yuan (RM2.9mil) to be deposited into a bank account in China. The staged actions induced Cheng to hand over the money, and the offence occurred at a hotel on Jalan Tuanku Abdul Rahman between 11.44am and 9.15pm on May 2. The charge falls under Section 417 of the Penal Code, which provides for a maximum of five years in jail, a fine, or both upon conviction. Deputy Public Prosecutor Noor Syafina Radzuan requested a just sentence to serve as a deterrent to the public. "The prosecution asks the court to consider that the accused's action had affected a lot of people and wasted the time and cost of the court and the police." For Ye, the second accused, the prosecution sought a discharge not amounting to an acquittal since Zhang had pleaded guilty. Lawyer Ernie Sulastri Ahmad, representing Zhang, pleaded for leniency, noting his guilty plea saved court resources. She said Zhang intended to continue his studies, which are due to finish by June next year. Meanwhile, lawyer Ramesh Sivakumar, representing Ye, requested a discharge and acquittal, stating that Cheng had withdrawn her police report. Judge Azrul granted Ye a discharge not amounting to an acquittal, as requested by the prosecution.
The Star
13-05-2025
- Politics
- The Star
Asean News Headlines at 10pm on Tuesday (May 13, 2025)
Malaysia * Eight FRU personnel killed in Perak road accident * FRU truck crash: Death toll rises to nine, all FRU personnel * Terengganu PAS apologises for jalur Gemilang error in event logo * No negligence found in fatal accident involving elephant calf, say police * Malaysia free of Streptococcus infections linked to pigs, says DVS * Pamela Ling abduction: MACC's timeline missing some facts, says lawyer * Statements of 27 people recorded in Pamela Ling abduction probe * PKR polls not 'us vs them' but a reminder of shared struggle, says Saifuddin * No reflection on Anwar if Nurul Izzah loses bid for PKR No. 2, says Saifuddin * 10.5% drop in drug users seen in Q1, says Home Minister * Police to launch thorough probe into fatal FRU truck crash, says deputy minister * Malaysia puts anti-dumping duties on some flat-rolled iron, non-alloy steel products * Ex-Penang deputy chief minister to be charged with abuse of power * PM orders probe of FRU truck crash, urges aid for victims and families * Ah long asks woman to send 'nudes' to secure RM3,000 loan * Lorry driver involved in fatal FRU collision has criminal history, says police chief * Lorry suffered steering failure before crashing into FRU truck, says Zahid * All captured wildlife to be microchipped before relocation * Two foreign students plead not guilty to staged kidnapping for RM2.9mil ransom * Croc weighing 100kg among three caught in Beaufort, Sabah * No ketum found in lorry, says Deputy IGP on fatal FRU crash * Adoption first, not 'shooting spree', says Negri MB on move to reduce stray dog population Singapore * Singapore to begin automated immigration clearance at West Coast, Marina South piers from 2027 * Singapore woman sues mum for evicting her; judge dismisses claim of right to stay indefinitely * Every Singaporean household can claim S$500 CDC vouchers from May 13 * Singaporean actress Chen Xiuhuan and daughter visit Jeju for Mothers Day after watching 'When Life Gives You Tangerines' * Singapore monitoring rise in Covid-19 cases; no indication variants are more transmissible or severe * S$1,000 fine for man who hung placard around his neck to publicise religious movement in Singapore * Monkey nuisance at Singapore's Mandai Columbarium: Visitors asked not to leave food offerings unattended * High Court orders Ng Yu Zhi's bankruptcy trustees to accept $12m claim by defrauded investor Indonesia * 'Be firm on thugs': Indonesia to tackle protection rackets as investments threatened * Indonesian military's security protection for Attorney General's Office draws flak Thailand * Evacuation ordered after factory fire in Bangkok leads to high levels of air pollution * Thailand's political war heads toward a no-return showdown * Former Thai PM Thaksin is genuinely ill and ready to defend himself, says PM Paetongtarn * 48-day rescue mission at collapsed Bangkok building concludes * Thailand's edible insect market poised for explosive growth Philippines * Duterte wins mayoral race from jail * Marcos' grip on power shaken as Duterte allies, opposition surge in Philippines midterm polls * Kanlaon volcano spews ash over a mile into the sky * Dutertes outperform in Philippine midterms in blow to Marcos * Philippines election result could tip scales for Sara Duterte Vietnam * Hanoi agrees to nuke power plant deal with Russia * Thai PM's visit to Vietnam will lift bilateral ties to new heights: Envoy * Vietnam tycoon seeks to manage her assets from prison, media reports Myanmar * Witnesses claim 22 killed in Myanmar junta airstrike on school * Survivors of Myanmar earthquake find refuge in China-donated tents Cambodia * Cambodian Mine Action Centre destroys 120 cluster bomblets in Ratanakiri controlled explosion * Chinese Shaolin Kung Fu shines in Cambodia Laos * Australia provides AUD2.89mil to improve reproductive health in remote areas of Laos * Laos looks into blockchain, digital assets to boost digital economy Brunei * Brunei supports businesses, partnerships for sustainable growth: Minister * Universiti Brunei Darussalam salutes nurses and midwives' contributions Aseanplus * 'First calm night in recent days' as ceasefire holds * Beijing courts Latin America * 'Ousted PM behind deadly crackdown' * Presidential candidates kick off campaigns * Stocks, dollar surge as US and China agree 90-day tariff relief * UN aviation body rules Russia downed Flight MH17 * Ringgit opens higher vs dollar, market sentiment improves * Barbie Hsu's mum remembers late star in first family photo after heartbreaking loss: 'My heart aches' * Australia's conservative Liberal party elect first woman leader after election loss * FBM KLCI jumps 1% at opening bell on US-China tariffs relief * US-China tariff development positive for Malaysian equity market - CIMB Securities * Oil prices ease off 2-week highs after US, China pause tariff war * Ousted Bangladesh PM Hasina's party barred from election as party registration suspended * Foreign dollars flow into Bursa Malaysia for third straight week * Aaron Chia-Soh Wooi Yik win National Sportsman award * Xi's defiance pays off as Trump meets most Chinese trade demands * Most Asian markets extend rally in glow of China-US truce * Cricket-Australia's Green, Cummins and Hazlewood return for World Test Championship final * Modi warns Pakistan: India will not tolerate any nuclear blackmail * 'Shang-Chi' star Simu Liu engaged to girlfriend Allison Hsu * Jaded young Chinese reset lives with rural 'retirement' * FBM KLCI leads gains in Asia with 2% rally * China stocks flat, Hong Kong retreats as tariff optimism fades * Cricket-Australia in touch with IPL over security as players ponder return * China's Xi slams 'bullying' as Beijing hosts Latin American leaders * Japanese 'salarymen' inspire with cheerleading acrobatics * Trump blinked in trade war with China. Can South-east Asia get a break, too? * Pakistan says committed to truce with India, vows to respond to aggression * Asia Pacific trade envoys to discuss multilateral cooperation in tariff era * Man in South Korea blames parents for short stature, publicly vows murder * US tariff pause on Beijing puts pressure on 'China-plus-one' countries * Henry Golding details 'Crazy Rich Asians' reunions as Max develops TV series * China job ad featuring 'free toilet use' as work benefit sparks humorous reactions online * Australia's conservative Liberal party elects first woman leader after election loss * Tariffs set to level up game console prices * Mandopop superstar Jam Hsiao is back in KL after six years; star singer's concert all set for Aug 2 at Axiata Arena * China's Xi Jinping urges countries to 'stand united' in face of global trade war * Cricket-South Africa name Rabada in World Test Championship final squad * Former China National Petroleum Corp chairman sentenced to 13 years in prison for bribery * 'Up to Yoon Suk Yeol to leave party,' Kim Moon-soo says * Expect the very best of Asia and South-East Asia to come to the fore as Maybank's RM13mil golf extravaganza is back to excite the fans * 'Marsquakes' point to liquid water in red planet's crust, study finds * Ringgit weakens against US dollar, gains versus other currencies * Malaysian designer Shaleen Cheah on crafting elegant, expressive fashion * 17 dead in India after drinking moonshine * Taiwanese comedian-host Nono sentenced to 2½ years' jail for attempted rape * After the China-US trade deal, what tariffs will exporters actually pay? * China lifts ban on Boeing deliveries following US-China trade agreement: report * Anwar's visit to Russia marks diplomatic milestone, strengthens KL-Moscow ties * Actress Christy Chung wows netizens in rare photoshoot with all 3 daughters * 80 years after WWII, Japanese junior high school badge found in Okinawa natural cave * Foreign Ministry closely monitoring situation in India and Pakistan, assisting affected Malaysians
The Star
13-05-2025
- The Star
Two foreign students plead not guilty to staged kidnapping for RM2.9mil ransom
KUALA LUMPUR: Two students from a Singapore university pleaded not guilty in the Sessions Court on Tuesday (May 13) to staging a fake kidnapping to trick one of their mothers into paying a RM2.9mil ransom. Zhang Runbao, 23, and Ye Yingxi, 18, both Chinese nationals, were jointly charged with attempting to deceive Ye's mother, Cheng Zhiwen, by making a phone call and sharing a video purporting to show Ye being abducted. In the video, Ye appeared half-naked, with his hands tied, mouth sealed with black duct tape, neck being strangled, body stepped on, and his face splashed with water. They are alleged to have demanded a ransom of five million Yuan (approximately RM2.9mil) be transferred into a bank account in China. The acts were allegedly staged to dishonestly induce Cheng to remit the money. The offence was allegedly committed at a hotel on Jalan Tunku Abdul Rahman here, between 11.44am and 9.15pm on May 2. The charge was framed under Section 420 of the Penal Code, read together with Sections 511 and 34, which provides a jail term of up to 10 years, whipping and a fine upon conviction. Both men also pleaded not guilty to an alternative charge for the same offence under Section 417 of the Penal Code, read together with Section 34, which carries a jail term of up to five years, or a fine, or both. Judge Azrul Darus set May 27 for case mention and granted each accused bail of RM30,000 with two sureties. The court also ordered both to surrender their passports until the disposal of the case. Deputy public prosecutor Noor Syafina Radzuan appeared for the prosecution, while the two accused were represented by lawyers Ernie Sulastri Ahmad and Ramesh Sivakumar. – Bernama
