Latest news with #RM25.5
The Sun
6 days ago
- Business
- The Sun
Malaysia, Japan ink agriculture MOUs worth over RM25 million
KUALA LUMPUR: Malaysia has continued to strengthen cooperation with Japan in the agricultural sector through the signing of Memoranda of Understanding (MoUs) between several companies from both countries at Expo 2025 Osaka today. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, in a Facebook post, said the MoUs, which were expected to generate investments of over US$6 million (RM25.5 million), would not only boost the economy but also strengthen the resilience of the nation's food system. 'Agriculture is not just the work of villagers. It is the future of the nation. 'Let us continue to work hand-in-hand, be it the government, private sector, farmers, and the people, towards a resilient, innovative, and blessed Malaysia MADANI,' he said. Mohamad said he also had the opportunity to launch the Sustainable Agriculture Week at the Malaysia Pavilion in conjunction with the expo. He said Malaysia participated in the expo with the strong belief that sustainable agriculture was not just an option, but a necessity. 'Imagine if one day farmers lose their jobs, agricultural land is left idle, and food becomes increasingly difficult to obtain – that is a warning of the future approaching if we do not act now,' he said. Mohamad said Malaysia was now moving forward with the National Agrofood Policy 2.0 and Shared Prosperity Vision 2030 to modernise agriculture using technology such as drones, the Internet of Things (IoT), and smart systems. 'Even Tongkat Ali, we are increasing its added value to become a premium health product,' he said. Malaysia's participation in Expo 2025 Osaka is spearheaded by the Ministry of Investment, Trade and Industry and supported through a whole-of-government approach involving 21 ministries and 70 agencies. It focuses on seven strategic sectors, namely sustainable agriculture, renewable energy (RE), smart living, green manufacturing, industrial reform, environmental management, and the halal industry.
BusinessToday
26-05-2025
- Business
- BusinessToday
PGB's Q1 Revenue Dips Slightly, Profit Rises 4% To RM468 Million
Petronas Gas' revenue stood at RM1,594.5 million in 1QFY25, a slight decrease of 1.5% or RM24.3 million mainly attributable to lower revenue from Gas Transportation and Regasification segments following downward tariff adjustment arising from sharing factor for prior year's lower internal gas consumption. Gross profit declined by 4.2% or RM25.5 million due to tighter margins recorded at the Gas Transportation and Regasification segments as a result of lower revenue. PBT increased by 2.4% or RM14.6 million, contributed by a higher share of profit from joint venture companies due to higher repair and maintenance incurred in the corresponding quarter. Profit attributable to equity holders for the quarter rose by 4.2% to RM468 million compared to RM456 million recorded in the previous year's quarter. Looking ahead, overall performance for the financial year 2025 is expected to remain resilient and stable, notwithstanding the operational disruption caused by the pipeline fire incident in Putra Heights on 1 April 2025. All core business segments are anticipated to maintain their strength and continue contributing positively to the Group's earnings. Based on current site conditions and the extent of asset damage – pending the outcome of official investigations –the total financial impact from repair and restoration works is estimated at approximately RM170 million. A substantialportion of this expenditure will be capitalised as part of the Company's capital expenditure, with partial cost recovery expected from insurance claim. Revenue loss attributable to the temporary service interruption is projected to be minimal at approximately RM20 million, driven by close collaboration with regulatory authorities, gas shippers, and distributors that enabled the swift restoration of pipeline services and stabilisation of supply. The total estimated profit impact from both asset restoration and revenue loss is projected to be around RM60 million for the year. In response to the incident, the Group said it is intensifying its focus on robust risk management, operational resilience, and proactive mitigation measures. PGB remains firmly committed to maintaining the highest standards of safety and operational excellence, while continuing to pursue disciplined cost management and long-term strategic growth to ensure business continuity and sustainability. Related
Yahoo
25-03-2025
- Business
- Yahoo
Gobind: MDEC offering RM1.5b in financial aid, but talent shortage hindering MSMEs from going digital
KUALA LUMPUR, March 25 -- Talent shortage is one of the major challenges faced by micro, small and medium enterprises (MSMEs) when trying to take their businesses online, said Digital Minister Gobind Singh today. He said Putrajaya is now offering around RM1.5 billion in funds to help MSMEs digitise their business, but there is a lack of know-how to fully utilise the financial aid. 'Many business owners understand how the pandemic affected them, but they still haven't fully adapted to technology. 'The question is, why is there a lack of adoption, and how do we deal with it? One key issue we identified is a lack of talent,' he said during the Business Digitalisation Initiative event with Malaysian Digital Economy Corporation (MDEC) here. Gobind said the government has seen businesses that adopt digital solutions report up to 30 per cent increase in productivity and income, but this potential remains unrealised. The minister added that about 97 per cent of businesses in Malaysia fall under MSMEs, making the sector critical to the country's digital economy growth. As the Malaysian Digital Economy Blueprint (2021-2030) plans to generate RM25.5 billion in income by 2025, he said agencies SME Corp and MDEC have ramped up training initiatives over the past four months on digital banking, e-commerce, and automation. Gobind said one area of resistance among SMEs is e-invoicing, with many business owners citing high costs as a barrier to adoption. He assured them that the government is working on cost-reduction measures, including a new programme offering free and low cost e-invoicing solutions. With the government aiming for 25 per cent economic growth this year, Gobind said he hopes MSMEs can fully leverage digital tools for their businesses. MDEC announced that the RM1.5 billion in funds is made possible through strategic public-private-partnerships among government agencies and supporting partners including financial institutions, digital banks, peer to peer (P2P) lending platforms and local service providers. This fund aims to provide digital solutions for the MSMEs, while offering digital financing facilitation for the community's business operation needs.
