Latest news with #RM283
New Straits Times
28-05-2025
- Business
- New Straits Times
PPB posts higher net profit of RM375.83mil in 1Q25
KUALA LUMPUR: PPB Group Bhd's net profit rose to RM375.83 million in the first quarter ended March 31, 2025 (1Q 2025) from RM337.17 million in 1Q 2024, while its revenue also increased to RM1.35 billion in 1Q 2025 from RM1.29 billion previously. In a filing with Bursa Malaysia today, the group attributed its performance to higher contributions from Wilmar International Ltd, which increased to RM283 million in 1Q 2025 from RM266 million previously. PPB owns an 18.8 per cent equity interest in Wilmar, one of Asia's largest integrated agribusiness groups. "At the same time, core business segments recorded a 25 per cent increase in profit to RM127 million in 1Q 2025 (1Q 2024: RM102 million)," it said. On prospects, it said the grain and agribusiness segment will continue to closely monitor global grain prices and adopt prudent sourcing strategies, given the commodity market's vulnerability to adverse weather conditions in key grain-producing regions and evolving government policies. "These challenges are further compounded by heightened global uncertainties and economic pressures arising from the escalation of United States tariff measures. "Nonetheless, the group remains committed to upholding high product quality by leveraging its technical expertise and delivering reliable customer service. We are confident in our ability to remain resilient and deliver a satisfactory performance in 2025," it added. Meanwhile, PPB said the consumer products segment will continue to expand its product range and strengthen its market presence to enhance distribution efficiency amid rising operating costs. "Supported by resilient domestic household spending, a well-established distribution network and robust logistics infrastructure, the segment is well-positioned to respond effectively to evolving market demand and is expected to deliver a satisfactory performance in 2025," it said. — BERNAMA TAGS: PPB, result, 1Q 2025, Wilmar
New Straits Times
16-05-2025
- Business
- New Straits Times
MARKET PULSE AM MAY 16, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia opened on a positive note Friday, as investors looked ahead to the release of Malaysia's first-quarter GDP data later in the day. The index is anticipated to trade within the 1,570 to 1,580 range throughout the day. In early trading, Fibromat was among the most actively traded stocks, rising by about six per cent to 54 sen. The gain followed news that its subsidiary secured a contract worth RM283 million for erosion control works in Kelantan. In the cryptocurrency market, Bitcoin is trading around RM444,586 level, while Ethereum is at approximately RM10,930. That's it for Market Pulse.
Malaysian Reserve
24-04-2025
- Business
- Malaysian Reserve
IJM acquires 50% stake in JRL Group for RM283m to drive UK expansion
IJM Corporation Bhd has acquired a 50% stake in financially troubled UK construction firm JRL Group Holdings Ltd for £50 million (approximately RM283 million), marking a bold expansion into the UK's competitive and inflation-hit building sector. The deal, completed via the subscription of new ordinary shares, gives IJM access to JRL's £1.45 billion (RM8.49 billion) order book and a vertically integrated operation comprising 14 specialist divisions. While JRL has faced industry-wide headwinds including rising construction costs and labour shortages, IJM sees the partnership as a long-term strategic move to deepen its footprint in the UK and diversify its earnings base. 'The completion of this acquisition marks a significant advancement in IJM's UK growth strategy,' said IJM Group CEO and MD Datuk Lee Chun Fai. 'JRL's strong project delivery credentials, specialised technical expertise and solid order book enhance our construction capabilities… aligning with IJM's long-term plans in the UK market.' Founded in 1996, JRL has delivered complex urban projects across the UK and is currently working on Phase 2 of Royal Mint Gardens — known as 88 Royal Mint Street — a mixed-use scheme that includes a 463-room Wilde Aparthotel and 79 residential units. JRL was also the contractor for Phase 1 of the development, completed in 2020. Though not explicitly framed as a rescue, JRL's need for recapitalisation has been clear. IJM's investment will strengthen JRL's balance sheet and help it deliver on a growing pipeline. JRL MD John Reddington called the partnership a major milestone, saying, 'Finalising this partnership marks a major milestone for JRL, built on mutual trust developed over years of collaboration… Together, we are well-positioned to unlock new opportunities and drive the next phase of growth in the UK.' The acquisition dovetails with IJM Land's property development ambitions in the UK, including its Innova joint venture with Network Rail Property, targeting rail-adjacent sites across London with a projected gross development value of RM17 billion. The collaboration is expected to benefit directly from JRL's ability to deliver complex infrastructure works, including over live rail corridors. JRL has also expanded into development, with some 2,400 build-to-rent and co-living units in the pipeline, and a gross development value of RM4.58 billion. Combined with IJM's other UK assets such as 25 Finsbury Circus and The Wheat Quarter in Hertfordshire, the move marks a clear step in building a full-spectrum presence across construction, development and recurring-income properties in a mature market. While the acquisition carries short-term risks tied to JRL's financial health, IJM is betting on synergy, technical alignment, and the long-term value of being embedded in a strategically important market. — TMR
New Straits Times
24-04-2025
- Business
- New Straits Times
IJM buys 50pct stake in UK's JRL Group for more than RM280mil
KUALA LUMPUR: IJM Corp Bhd has acquired a 50 per cent stake in JRL Group Holdings Ltd for £50 million, or about RM283 million, via the subscription of new ordinary shares in the UK-based contractor. JRL is an integrated construction solutions provider with 14 specialist divisions offering end-to-end contracting, design, manufacturing and plant services. It holds a £1.45 billion order book, providing earnings visibility for the next three years. IJM said the acquisition enhances its core construction capabilities and complements its existing RM6 billion order book. IJM group chief executive officer and managing director (MD) Datuk Lee Chun Fai said the acquisition marks a significant milestone in the company's growth strategy in the UK. "JRL's strong project delivery credentials, specialised technical expertise and solid order book enhance our construction capabilities. "This enables us to effectively pursue complex, transit-oriented and infrastructure-led developments, aligning with IJM's long-term plans in the UK market," he added. IJM said the investment complements IJM Land's flagship Innova joint venture with Network Rail Property, targeting multiple railway-adjacent sites across four London boroughs. "Finalising this partnership marks a major milestone for JRL, built on mutual trust developed over years of collaboration," said JRL Group MD John Reddington. "IJM's global experience and strategic ambition align with our focus on complex, largescale delivery. Together, we are well-positioned to unlock new opportunities and drive the next phase of growth in the UK," he added.
New Straits Times
22-04-2025
- Business
- New Straits Times
Pahang should tap into booming premium birding market, says state rep
KUANTAN: An appointed assemblyman has proposed that the Pahang government intensify efforts to capitalise on avitourism, or birdwatching, a highly specialised area of nature-based tourism. Rizal Jamin described birdwatching as a premium product that had gained popularity, particularly among high-income groups, especially foreigners. "Birdwatching, or avitourism, is a recreational activity that involves cataloguing bird species in a specific habitat and documenting sightings of various species, particularly those that are rare or seldom found in the area. "The activity typically requires the use of high-powered binoculars, digital cameras, and mobile apps for bird species identification. Avitourism guides are experienced and certified in eco-tourism," he said during the debate on the motion of thanks for the royal address by the Sultan of Pahang, Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah, at the state assembly sitting at Wisma Sri Pahang today. Rizal said that the Grand View Research database estimated the global market size of avitourism at nearly US$63 billion (RM283 billion) in 2023, and it is expected to continue growing in the coming years due to increasing demand for eco-tourism activities. "I had the opportunity to participate in a birdwatching activity last month, during which I was taken on a boat ride in Lipis. A total of 42 species, including rare birds such as the Great Slaty Woodpecker and the Black Hornbill, were spotted," he said. "The fee for an avitourism guide ranges from RM500 to RM550 per day, providing a lucrative income for those in rural areas. I would like to propose that avitourism be developed as one of the key tourism products in Pahang," he added.
