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New Straits Times
2 days ago
- Business
- New Straits Times
Infomina's FY25 earnings fall nearly 36pct, revenue drops nearly 13pct
KUALA LUMPUR: Infomina Bhd posted a weaker earnings in the financial year ended May 31 2025 (FY25). This was primarily due to lower revenue contribution from its design and delivery of technology infrastructure solutions segment, as well as a RM10 million provision for doubtful debts, Infomina said. The company's net profit for the financial year ended May 31, 2025 fell 36 per cent to RM21 million from RM33 million a year ago. Revenue of the technology solutions provider dropped 12.6 per cent to RM196.7 million from RM225 million previously. For the fourth quarter, Infomina reported RM53.4 million revenue and a net loss of RM3.1 million. Its chief executive officer cum managing director Yee Chee Meng said the headline profitability in FY25 was affected by a non-cash provision and foreign exchange losses. Yee said the company recorded improved margins, with revenue just under RM200 million and normalised pre-tax profit of RM40.4 million. Infomina paid its maiden dividend of 1.2 sen per share, reflecting its strong operating cash flow and sound fundamentals. "We are encouraged by the positive progress in Japan, where our local team continues to gain traction with key clients. "We believe Japan has the potential to become Infomina's largest overseas market in the coming years," he said in a statement. Yee added that contracts across Hong Kong, Thailand and Taiwan continue to support its recurring income base and enhance earnings visibility. Beyond core mainframe software business, he said the company is making steady progress in developing artificial intelligence capabilities through Infomina AI Sdn Bhd. The company secured two collaborations recently, which represent important pillars for expansion into fintech, proptech and data services. He said the traction seen in both API and AI-driven solutions reinforces its confidence in the long-term scalability of this segment.
The Sun
3 days ago
- Business
- The Sun
Express Powerr inks underwriting agreement with Mercury Securities for ACE Market IPO
KUALA LUMPUR: Generator rental services provider, Express Powerr Solutions (M) Bhd signed an underwriting agreement with Mercury Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia. Express Powerr managing director Lim Cheng Ten said the company is entering a new phase of growth, and this underwriting agreement marks a significant step towards its listing on the ACE Market of Bursa Malaysia. 'This move will accelerate our expansion into new end-user markets, including the oil and gas industry, and broaden our geographical coverage. 'With this in mind, we see great potential in the oil and gas sector. The industry typically operates in remote and challenging environments, where generators are required as temporary power solutions during exploration, drilling and production operations,' he said in a statement. He said in the first nine months of 2024 alone, 27 oil and gas projects worth RM4.46 billion were approved, presenting strong prospects for the industry. In the utility sector, Tenaga Nasional Bhd (TNB) has invested RM21 billion in its Grid of the Future programme to enhance its transmission and distribution network. As generator sets are widely used in the engineering, procurement, and construction of power grids as well as other generation and transmission projects, these developments reinforce the continued relevance of the generator rental business, Lim said. Express Power provides generator rental services, which are utilised in critical emergencies such as power outages and planned maintenance, and serve as standby power for events and special occasions, providing a reliable power source when needed most. The group also supplies ancillary items, including distribution boards, generator synchronisation panels, transformers, switchgears, load banks, and cables, to meet the varied requirements of its customers. With a 20-year track record, the group owns a fleet of 111 generator units, ranging in capacity from low- to high-voltage systems. Over 70% of the fleet consists of mobile generator units mounted on trucks, designed for easy transportation and deployment to various locations. The remaining units are canopy generators, which are commonly used in outdoor settings or areas where noise reduction is important. Routine maintenance is performed in-house, with generators inspected and maintained every 300 operational hours to ensure reliability and minimise downtime. In addition to its core business, the group is also registered as a solar photovoltaics (PV) investor under the Net Energy Metering (NEM) programme and a PV service provider by Sustainable Energy Development Authority Malaysia (SEDA). This enables the group to install rooftop solar PV systems for both residential and commercial properties. Though still in its early stages, this expansion aligns with Malaysia's net-zero emission target by 2050 and supports the growing demand for sustainable energy solutions. As a testament to its growing reputation for delivering quality generator rental services, Express Powerr became an approved vendor of TNB in 2021 and subsequently secured service contracts with TNB in 2022 after having supplied generators indirectly to TNB since 2005. The group has also expanded its geographical footprint to Sabah last year, providing services indirectly to Sabah Electricity Sdn Bhd (SESB). Beyond electric utility companies, Express Powerr serves a diverse range of end-user industries, including mechanical and electrical, manufacturing, construction, and event industries, as well as government agencies. The IPO exercise comprises a public issue of 180.0 million new ordinary shares, representing approximately 19.3% of the company's enlarged issued share capital, and an offer for sale of 65.4 million existing shares, equivalent to 7.0% of the enlarged share capital. Of the 180.0 million new shares, 46.7 million will be offered to the Malaysian public via balloting, 18.7 million allocated to eligible directors, employees, and contributors to the group's success, 63.2 million placed privately with selected investors, and 51.4 million placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti). The 65.4 million existing shares under the offer for sale will also be allocated to Bumiputera investors approved by the Ministry of International Trade and Industry (Miti). Under the underwriting agreement, Mercury Securities has agreed to underwrite a total of 65.4 million Issue Shares made available to the Malaysian public and Pink Form Allocations. Express Powerr is scheduled to be listed on the ACE Market of Bursa Malaysia by the third quarter of 2025. Mercury Securities serves as the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise.
New Straits Times
3 days ago
- Business
- New Straits Times
Express Powerr eyes ACE Market debut in Q3
KUALA LUMPUR: Generator rental firm Express Powerr Solutions (M) Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for its planned listing on the ACE Market of Bursa Malaysia, targeted for the third quarter. The initial public offering (IPO) involves a public issue of 180 million new shares or 19.3 per cent of its enlarged issued share capital, as well as an offer for sale of 65.4 million existing shares, representing 7.0 per cent of its enlarged share capital. Of the 180 million new shares, 46.7 million shares will be made available to the Malaysian public via balloting, while 18.7 million shares to its eligible directors, employees and persons who have contributed to the company's success. Meanwhile, 63.2 million new shares are allocated for private placement to selected investors and 51.4 million shares through private placement to Bumiputera investors approved by the Investment, Trade and Industry Ministry. Additionally, all 65.4 million offer shares to be offered for sale will be made available to Bumiputera investors approved by the ministry through private placement. Pursuant to the underwriting agreement, Mercury Securities has agreed to underwrite a total of 65.4 million new shares made available to the Malaysian public and pink form allocations. Mercury Securities serves as the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO. Managing director Lim Cheng Ten said the listing will accelerate the company's expansion into new end-user markets, including the oil and gas industry, and broaden its geographical coverage. "With this in mind, we see great potential in the oil and gas sector. The industry typically operates in remote and challenging environments, where generators are required as temporary power solutions during exploration, drilling and production operations," he said. Lim said in the first nine months of 2024 alone, 27 oil and gas projects worth RM4.46 billion were approved, presenting strong prospects for the industry. He added that in the utility sector, Tenaga Nasional Bhd (TNB) has invested RM21 billion in its Grid of the Future programme to enhance its transmission and distribution network. "As generator sets are widely used in the engineering, procurement, and construction of power grids as well as other generation and transmission projects, these developments reinforce the continued relevance of the generator rental business," Lim said. Express Powerr is mainly involved in the provision of generator rental services, which are used in critical emergency situations such as power outages, planned maintenance and serve as standby power for events and special occasions, providing a reliable power source when needed most. It also supplies ancillary items such as distribution boards, generator synchronisation panels, transformers, switchgears, load banks and cables to meet the varied requirements of its customers. With a 20-year track record, the company owns a fleet of 111 generator units across various capacities from low and high voltage systems with over 70 per cent of the fleet comprises mobile generator units mounted on a truck, designed for easy transportation and deployment to various locations. In addition to its core business, Express Powerr is also a solar photovoltaics investor under the Net Energy Metering programme and a PV service provider by Sustainable Energy Development Authority Malaysia. The company became an approved vendor of TNB in 2021 and subsequently secured service contracts with TNB in 2022 after having supplied generators indirectly since 2005. The company has also expanded its geographical footprint to Sabah last year, providing services indirectly to Sabah Electricity Sdn Bhd. Express Powerr also serves a diverse range of end-user industries, including mechanical and electrical, manufacturing, construction and event industries, as well as government agencies.
The Star
17-07-2025
- The Star
Former company director claims trial to fraud charges
KLANG: A former director of a company offering umrah packages has been charged in separate Magistrate's Courts here with two counts of dishonest misappropriation of property, amounting to RM48,960.20, two years ago. Datuk Zulkarnain Endut, 44, pleaded not guilty to both charges. In court before Magistrate Siti Zubaidah Mahat on Thursday (July 17), he was charged with misappropriating property, in the form of cash totalling RM27,960.20, belonging to a 45-year-old man in Jalan Tanjung Shawal, Klang, between Feb 1 and July 28, 2023. He was also charged before Magistrate Nor Azilah Mat, with another person still at large, with misappropriating RM21,000 given to them by a man for an umrah package with Emraz Travel and Tours Sdn Bhd. The offence was allegedly committed in Bandar Sultan Suleiman, Klang, between Feb 23 and March 29, 2023. Both charges were framed under Section 403 of the Penal Code, which provides for imprisonment of up to five years with caning, and a possible fine, if found guilty. Magistrates Siti Zubaidah and Nor Azilah allowed him bail of RM2,500 and RM6,000 respectively, and set Sept 24 for mention. – Bernama
The Sun
17-07-2025
- The Sun
Former director charged with misappropriating umrah funds in Klang
KLANG: A former director of a company providing umrah packages faced two charges of dishonest misappropriation of property amounting to RM48,960.20 in separate Magistrate's Courts here. Datuk Zulkarnain Endut, 44, denied both charges. In the first case before Magistrate Siti Zubaidah Mahat, he was accused of misappropriating RM27,960.20 belonging to a 45-year-old man in Jalan Tanjung Shawal between February 1 and July 28, 2023. In the second case before Magistrate Nor Azilah Mat, he and another individual still at large allegedly misused RM21,000 given by a customer for an umrah package under Emraz Travel and Tours Sdn Bhd. The offence occurred in Bandar Sultan Suleiman between February 23 and March 29, 2023. Both charges fall under Section 403 of the Penal Code, carrying a maximum penalty of five years' imprisonment, whipping, and a possible fine if convicted. Magistrates Siti Zubaidah and Nor Azilah granted bail at RM2,500 and RM6,000 respectively, with the next mention set for September 24. Deputy public prosecutors Salman Alfarisi Nawawi and Ahmad Sulfie Abu Hassan handled the cases, while lawyer Muhammad Nur Aiman Mohd Lazim represented Zulkarnain. - Bernama
