Latest news with #RM295
New Straits Times
15 hours ago
- Business
- New Straits Times
SP Setia Q2 net profit slips 66pct on weaker land sales, overseas revenue
KUALA LUMPUR: SP Setia Bhd's net profit slipped 66 per cent to RM99.8 million in the second quarter from RM295 million a year ago, dragged down by lower contribution from land sales and reduced revenue from overseas projects. Revenue for the quarter ended June 30, 2025, also fell 36.9 per cent to RM934.7 million from RM1.49 billion last year. In a bourse filing, SP Setia said the decline was primarily due to lower contributions from land sales by RM407 million, as well as reduced revenue from projects in Australia and Vietnam following substantial handovers of completed developments in 2024. In the first half of financial year 2025, the property developer's net profit stood at RM166.8 million, down more than half from RM372 million last year. Revenue also slipped 42 per cent to RM1.7 billion from RM2.97 billion previously. Despite the weaker earnings, the property developer posted stronger sales of RM1.19 billion in the six months, up 34 per cent from RM883 million previously. Domestic projects contributed RM1.42 billion, or 75 per cent of the total. Central region contributed sales totalling RM955 million, while the Southern region accounted for RM430 million. During this review period, Setia has achieved RM1.9 billion of total sales. As at end-June, SP Setia's unbilled sales stood at RM3.9 billion with 42 ongoing projects. The company also has a land bank of 2,100 hectares with an effective gross development value of RM90.18 billion. President and chief executive officer Datuk Choong Kai Wai said the lower overnight policy rate at 2.75 per cent is expected to boost property development industry, particularly in the residential segment. He said the rate cut will improve buyer affordability, reducing developers' financing costs and potentially boosting market sentiment amid heightened, prolonged global uncertainty as well as rising construction costs. "Amid the current market challenges, our outlook remains cautiously optimistic while we look for opportunities to expand our presence across our targeted high-growth segments," he added.
The Sun
a day ago
- Business
- The Sun
F1 revival debate heats up
PETALING JAYA: The idea of reviving Formula 1 (F1) races at the Sepang International Circuit (SIC) has sparked scepticism, with experts warning that the multi-million ringgit price tag could outweigh potential benefits amid the country's current economic and social pressures. Economist Prof Geoffrey Williams said the government should avoid using public funds to finance the event, which Malaysia hosted for nearly two decades before dropping it in 2017. 'If hosting F1 is viable from an economic and business perspective, it should be funded entirely by the private sector. If it is not viable from a private investment perspective, then government investment makes no sense either.' Williams added that F1 should serve as a lesson from the past rather than an aspiration for the future. 'It was not sustainable and did not deliver the economic, social or multiplier effects often claimed by proponents of government involvement. If it had delivered benefits, it would still be running. It did not, hence it was discontinued.' A businessman, who wanted to remain anonymous, echoed these concerns, calling the potential cost unnecessary and misaligned with national priorities. 'Spending US$70 million (about RM295 million) for a single Formula 1 race is totally unnecessary. Once setup and related costs are included, Malaysia could pay more than RM300 million for just one event,' he said. He suggested the funds could instead uplift struggling Malaysians. 'That RM300 million could subsidise 20,000 B40 families with RM15,000 each, helping them financially to own their first home. Supporting 20,000 families would directly benefit at least 100,000 Malaysians.' The businessman also questioned the need to return to F1 given Malaysia's long history with the sport. 'We have hosted F1 for 19 consecutive years. Isn't that enough? With more countries vying to host, fees will only rise. The owners of F1 are savvy and business-minded, not generous. A wiser approach would be to use that money to improve the lives of Malaysians rather than compete for prestige.' SIC chief executive officer Azhan Shafriman Hanif was reported as saying the circuit has not ruled out hosting F1 again but stressed it would require serious funding, strategic planning and nationwide commitment before any proposal could move forward. He added that SIC is ready to coordinate a potential comeback, acting as a bridge between government stakeholders and F1 management. Malaysia last hosted an F1 race in 2017, before ending a 19-year run that began in 1999.
The Star
10-08-2025
- Health
- The Star
Warning against adult pacifiers cites potential health hazards
Comfort aid: Adult pacifiers, retailers and advocates believe, are a destressing tool, promoting better sleep and helping smokers quit — The Straits Times/ANN Adult pacifiers, unlike those for infants, appear to have multiple uses – they are a destressing tool, promote better sleep and help smokers quit, retailers and advocates say. But the prolonged use of the pacifiers – which have become a trend in the recent days in China and other parts of the world such as South Korea and the US – could cause jaw stiffness, shifting teeth and, when used during sleep, choking, warn medical professionals. Some retailers are selling more than 2,000 adult pacifiers a month, according to a South China Morning Post (SCMP) report on Aug 3. The pacifiers, which resemble those made for infants but are larger in size, cost between 10 yuan (RM5.90) and 500 yuan (RM295) each on e-commerce platforms such as Taobao. The Straits Times did not find adult pacifiers for sale on online shopping platforms based in Singapore; the ones for infants sold by local retailers on platforms such as Mothercare SG and FairPrice typically cost about S$10 (RM33) or more. Online reviews for the adult pacifiers have been generally positive. SCMP quoted a buyer describing the product as 'high quality' and saying it felt comfortable to use, without affecting their breathing. Another said that it was helpful for coping with withdrawal symptoms from quitting smoking, while a third said it was a source of comfort when one is stressed. On TikTok, several users from around the world shared that adult pacifiers help them to manage anxiety and sleep better. Some even said the pacifiers were useful for coping with some symptoms of attention deficit hyperactivity disorder such as restlessness, impulsivity and difficulty in focusing. However, some medical professionals are warning against the use of adult pacifiers. According to SCMP's report, Dr Tang Caomin, a dentist in Chengdu, said extended use could lead to jaw stiffness, pain when chewing, and shifting of teeth if used for more than three hours daily. He added that parts of the pacifier could become dislodged and inhaled during sleep. Zhang Mo, a psychologist based in Chengdu, noted that the popularity of such products may reflect deeper emotional needs. She said the answer lies not in reverting to childlike comforts, but in facing one's problems directly. — The Straits Times/ANN
The Star
18-05-2025
- The Star
Melaka cops bust ecstasy ring, arrest three
MELAKA: Police have crippled a drug trafficking ring dealing in ecstasy powder following the arrest of three people, including two Vietnamese women. Melaka Tengah OCPD Asst Comm Christopher Patit said a local man and the women, aged between 22 and 36, were arrested at 5pm on May 14 at an apartment in Taman Melaka Raya here. 'The raid by the Melaka Narcotics Crime Investigation Department uncovered 876.2g of MDMA (ecstasy powder) with an estimated value of RM12,000. 'Police also seized assets worth RM295,547, including a car, 38 pieces of jewellery, two watches and RM3,500 in cash,' he said yesterday, Bernama reported. ACP Christopher said preliminary investigations indicated that the group had been active since early February. The suspects have been remanded for seven days from May 15 to 21, and the case is being investigated under Section 39B of the Dangerous Drugs Act 1952. All three suspects tested positive for ketamine. Police urged the public to continue providing information on drug trafficking activities via the Narcotics Crime Investigation Department hotline at 012-208 7222.
Barnama
17-05-2025
- Barnama
Two Vietnamese Women Among Three Held In Melaka Drug Bust
MELAKA, May 17 (Bernama) -- Police have crippled a drug trafficking syndicate dealing in ecstasy powder after arresting three suspects, including two Vietnamese women, in a raid in Taman Melaka Raya here. Melaka Tengah district police chief ACP Christopher Patit said a local man and the two women, aged between 22 and 36, were nabbed at around 5 pm last Wednesday (May 14) at a unit of the Hilir Kota Apartments. "The raid by the Melaka Narcotics Crime Investigation Department uncovered 876.20 grammes of MDMA (ecstasy powder), estimated to be worth RM12,000. "Police also seized assets belonging to the suspects valued at RM295,547, including a Honda Civic, 38 assorted pieces of jewellery, two watches and RM3,500 in cash," he said in a statement today. Christopher said initial investigations revealed that the syndicate is believed to have been active since early February this year, and the seized drugs were intended for the local market. He said all the suspects tested positive for ketamine, and checks revealed that one of them has three previous criminal records under Section 4(1)(C) of the Common Gaming Houses Act 1953, Section 408 of the Penal Code and Section 18(5) of the Film Censorship Act. "All three suspects have been remanded for seven days from May 15 to 21, and the case is being investigated under Section 39B of the Dangerous Drugs Act 1952. "Police urge members of the public to continue providing information on drug trafficking activities in their areas, which can be channelled through the Narcotics Crime Investigation Department hotline at 012-2087222," he added. -- BERNAMA
