Latest news with #RM28mil
The Star
01-08-2025
- Business
- The Star
BWYS to sell Banting industrial properties for RM67mil
BWYS Group Bhd managing director Kang Beng Hai KUALA LUMPUR: BWYS Group Bhd has entered into a sale and purchase agreement with Yusin Machinery (Malaysia) Sdn Bhd for the proposed disposal of industrial properties in Banting, Selangor for RM67mil cash. In a statement, the sheet metal products manufacturer and scaffoldings supplier said the properties are located at Kawasan Perindustrian Olak Lempit, Banting, Selangor, on a developed industrial land measuring approximately 339,386 square feet. The site comprises three blocks of four-storey office buildings, three blocks of single-storey detached factory buildings, and an ancillary structure. BWYS said the proposed disposal is expected to yield a gain of approximately RM33.8mil for the group, to be recognised in the next financial year ending Dec 31, 2026. Managing director Kang Beng Hai said the properties were acquired in January 2019 for RM28mil, and the current offer presents a timely opportunity for the group to unlock meaningful value from the investment. 'The proceeds will be applied towards supporting our ongoing operations and enhancing overall business efficiency. This move allows us to reallocate resources in a way that aligns with our broader business strategy, ensuring we remain well-positioned to capture opportunities and sustain our growth momentum in the coming years,' he said. Of the RM67mil in proceeds, RM37.9mil will go toward repaying bank borrowings, saving the group about RM1.1mil in annual interest. Another RM24mil will fund raw material purchases and operations, while RM5.1mil is allocated for estimated disposal-related expenses. The proposed disposal is expected to be completed in the first quarter of 2026, pending shareholders' approval at an upcoming extraordinary general meeting and relevant regulatory approvals.
The Star
29-07-2025
- Business
- The Star
110 S'wak students get PETRONAS sponsorship for tertiary studies
KUCHING: Some 110 Sarawakian students have received sponsorships totalling RM28mil from PETRONAS for their tertiary studies. The outstanding 2024 SPM school leavers from diverse backgrounds will pursue degrees in engineering, economics, law and other industry-related courses at local and overseas universities under the PETRONAS Powering Knowledge education sponsorship. State Women, Childhood and Community Wellbeing Development Minister Datuk Seri Fatimah Abdullah welcomed the national oil corporation's continuous commitment to developing Sarawakian talent. "By investing in the education and development of Sarawakian youth, PETRONAS is helping us lay the foundation for a future that is resilient, competitive and inclusive," she said at the sponsorship presentation ceremony here on Tuesday (July 29). Fatimah, who was representing Sarawak Premier Tan Sri Abang Johari Openg, said this aligned with the state government's post-Covid-19 development strategy, which aimed to position Sarawak as a high-income developed state by 2030. "At the heart of this vision is our focus on building talent and expanding opportunities across all levels of education, from early childhood to tertiary, from academic pathways to technical and vocational training. "We are determined to ensure that every Sarawakian has the opportunity to thrive and move forward," she said. Fatimah also said the education sponsorship was a platform to shape future professionals and leaders who would contribute to Sarawak's and Malaysia's progress. "What we hope to see in return is not only graduates with academic excellence, but individuals who come back with a sense of responsibility and purpose," she added. PETRONAS senior general manager (human capital expertise) Akmal Niza Ahmad said the Powering Knowledge initiative supported a wide range of programmes to empower Malaysians from all walks of life. "This is part of our commitment, reinforcing how we continue to invest in future talent for the organisation, the industry and the nation," she said. Since its inception in 1975, the PETRONAS education sponsorship has benefitted over 40,000 Malaysian students.
The Star
27-05-2025
- Business
- The Star
Kretam confident of outlook after 1Q profit jumps 71%
PETALING JAYA: Kretam Holdings Bhd is confident about its prospects for 2025, underpinned by current palm oil (CPO) prices and its ongoing initiatives to enhance performance. The group said it continues to adapt by implementing strategic measures aimed at mitigating industry-related risks, emphasising prudent cost control and increasing yield and productivity through advanced technologies and innovative practices. For the first quarter ended March 31, 2025 (1Q25), Kretam's net profit soared 71.1% year-on-year to RM28mil, bringing earnings per share to 1.22 sen, despite revenue falling 5.1% to RM167.1mil. While a decline in fresh fruit bunch (FFB) production volume led to lower turnover, the improvement in net earnings was attributed to higher average selling prices (ASPs) of FFB, CPO and palm kernel (PK). The group said lower estate upkeep cost – due to to reduced spending on manuring, weeding and road maintenance as a result of heavy rainfall during the quarter – also contributed to the bottom line. Kretam added that better margins from palm methyl ester sales, driven by overall lower cost of sales and higher average selling prices, further boosted net profit. Compared to 4Q24, however, revenue decreased by 28% from RM233.3mil, while net profit dropped 63% from RM75.9mil. This was mainly due to higher sales volume and ASPs for CPO and PK in the previous quarter, a fair value gain on investment securities of RM 2.6mil compared to RM23.8mil in 4Q24, and dividend income of RM 3.9mil received in 4Q24. Kretam declared an interim dividend of 1.5 sen per share for 1Q25. The group expects CPO prices to remain volatile throughout the year, influenced by factors such as anticipated improvements in production in the upcoming quarters, as well as broader global issues driving uncertainty in equity and commodity markets. The planter is particularly concerned about the unpredictable nature of international trade policies, as well as geopolitical tensions between Russia and Ukraine.
The Star
22-05-2025
- Business
- The Star
Orgabio optimistic on instant beverage market growth
KUALA LUMPUR: Orgabio Holdings Bhd remains optimistic, supported by the instant beverage market's growth from US$61.64bil in 2023 to US$103.75bil by 2031, at a compound annual growth rate (CAGR) of 6.94%. 'Malaysia's premix market is also expected to grow from US$521.65mil in 2022 to US$835.85mil by 2029 (CAGR: 6.97%). Backed by this positive trajectory, the group will continue to pursue growth opportunities while managing costs prudently and strengthening its competitive positioning,' the instant beverage premix manufacturer said in a statement. In the third quarter ended March 31, Orgabio's net profit halved to RM1.09mil, or earnings per share of 0.44 sen, compared with RM2.12mil, or 0.85 sen, in the year-ago quarter. Revenue, however, climbed to RM28mil against RM22.4mil previously. For the nine months ended March 31, it posted a 9.4% increase in net profit to RM3.4mil, supported by a 44.3% rise in revenue to RM76.8mil. 'We are encouraged by the consistent growth in revenue, particularly from the domestic market. While profitability was impacted by temporary cost pressures and currency volatility, we remain focused on delivering sustainable performance and maintaining operational discipline,' chief executive officer and executive director Ean Yong Hien Voon said. 'With our newly completed factory commencing operations in April 2025, we are well-positioned to ramp up capacity progressively. This facility enhances our ability to serve a broader client base with a more diversified product portfolio and supports our entry into new markets.'
