Latest news with #RM24mil
The Star
13-05-2025
- Business
- The Star
Challenges to persist for Berjaya Food
PETALING JAYA: Berjaya Food Bhd is expected to continue facing a challenging operating environment as the lingering effects of geopolitical tensions show no clear signs of abating, analysts say. Compounding this is the increasingly crowded coffee chain landscape, which may hinder its efforts to regain market share, according to Maybank Investment Bank Research (Maybank IB Research). Berjaya Food operates the franchises for Starbucks, Kenny Rogers Roasters and Jollibean Foods cafés and restaurants in Malaysia. For its third quarter ended March 31, 2025 (3Q25), the group's net loss widened to RM37.19mil from RM29.76mil in the same period a year ago. This was mainly due to the weaker performance from its Kenny Rogers Roasters operations. Following the weak set of results, Maybank IB Research said it was projecting the net loss for FY25-FY26 increasing to between RM24mil and RM130mil. As for FY27, its earnings estimates have been lowered by 17%. 'Maintain 'sell' with a lower target price of 20 sen based on 2026 price-to-book value of 1.3 times,' the research house said in a report. It added that the group's sales volume remains on a declining trend year-on-year due to a reduced network of Starbucks cafes following the closures of more than 10 stores year-to-date. It also saw softer sales during the Ramadan period, with sales being impacted due to geopolitical tensions. At the same time, the group continued to run heavy product promotions in attempt to drive sales. To reflect a slower-than-expected sales recovery, CIMB Research also lowered its core net loss estimates for FY25 to FY27. 'Accordingly, our target price is lowered to 28 sen from 32 sen and we now peg the stock to a 2.2 times 2026 price-to-book value,' CIMB Research said in a report. The adjustment was to account for Starbucks' weaker brand equity in Malaysia and rising competition in Malaysia's food and beverage segment. The research house said the stock's current valuations have yet to account for the expectations of continued, albeit narrowing, losses through FY25 to FY27. Trading ideas: Perak Transit, Eco-Shop, Sapura Energy, Yoong Onn, Muhibaah, HeiTech Padu, Dnex, Pentamaster, CJ Century, 3REN, ES, ManagePay, Wesrports, Sentral REIT
The Star
24-04-2025
- Automotive
- The Star
JPJ raises over RM24mil from special 'A__A' registration bids
PORT KLANG: The Transport Ministry, through the Road Transport Department (JPJ), has collected more than RM24mil in revenue from bids for the special registration number (NPI) series 'A__A', in conjunction with JPJ's 79th anniversary celebration. Transport Minister Anthony Loke said the highest successful bid was RM902,020 for the number A9A, followed by A11A and A8A, which fetched RM703,007 and RM700,000 respectively. He added that A7A was the fourth highest at RM502,000, followed by A2A at RM490,888. "The five most bid-for numbers were A51A with 40 bidders, A101A with 31, A8118A with 29, A1881A with 27, and A19A also with 27 bidders," he said during a press conference after launching a training programme for car carrier lorry drivers on handling electric vehicles (EVs) here on Thursday (April 24). Loke said the revenue from special number plate bids, including the 'AA' series, would be channelled back to the public through various Ministry of Transport initiatives such as the MyLesen programme, helmet exchange campaigns, and the FlySiswa travel initiative. He also extended his thanks to all participants who took part in the online bidding exercise for the A_A series via the JPJeBid system, which opened on April 19 and closed Wednesday (April 23). – Bernama
The Star
24-04-2025
- The Star
Over 12,000 online fraud cases recorded in Q1 2025
KUALA BERANG: Police recorded 12,110 cases of online fraud or scams nationwide in the first three months of this year, involving RM573.7mil in losses. Bukit Aman Commercial Crime Investigation Department acting director Datuk Rohaimi Md Isa said the number of cases from January to March had increased compared with October to December last year, which recorded 10,715 cases involving RM519.9mil in losses. "In Terengganu, 1,251 cases of online fraud with a loss of RM35.7mil were recorded throughout 2024, compared to only 1,139 cases (RM24mil in losses) throughout 2023," he told reporters after visiting the Ajil police station here on Thursday (April 24). Rohaimi said online fraud crimes include telecommunications crimes, e-finance crimes, 'love-scam', e-commerce crimes, non-existent loans, and non-existent investments. He said the increase in these cases was due, among other things, to the rapid development of technology and the modern lifestyle's focus on using online applications. In addition, he said the rapid development of information technology and artificial intelligence (AI) was also a factor in the increase in online fraud cases. "Criminals are now also taking advantage of technology such as fake digital identity generators, fake websites, automated chatboxes, and 'deepfake' technology to deceive victims. "Generative AI also enables the creation of content that appears authentic and convincing, making it difficult for users to distinguish between genuine and fraudulent communications," he said. He advised the public to take preventive measures such as not clicking on any dubious links received through short messaging systems, WhatsApp messages, Telegram applications and so on, and not sharing banking information with unknown parties. - Bernama
