Latest news with #RM3.15
The Sun
26-04-2025
- Business
- The Sun
Johor vendor slammed for ‘ruining market' with RM3.90 burgers instead of RM5, netizens clash
IN a move that left fellow vendors fuming, a burger stall in Kulai, Johor, has been slammed for offering crispy chicken burgers at an eye-catching price of RM3.90, well below the local market rate of RM5. While the affordable price was welcomed by many customers, who saw it as a relief during tough financial times, some vendors were not pleased. The low pricing quickly sparked a heated debate about market competition and sustainability within the local food scene. ALSO READ: No Good Burger: Customer shares disappointing burger with 'no patty, just breading' The controversy erupted after the Kulai-based burger stall went viral on social media. One particularly disgruntled seller decided to confront the RM3.90 vendor directly, sending an angry message that read: 'Oi bro, don't ruin the market! You think you're the only one doing business and slashing prices like this? The market rate for burgers is RM5, be reasonable. Don't come to Kulai and mess things up.' The upset vendor felt that such drastic price cuts could upset the balance and affect the livelihoods of other sellers in the area. In response, the budget burger seller maintained a calm and composed stance, explaining his business approach and the rationale behind his pricing. He said: 'I'm not ruining the market. I just have a good supply chain, which lets me get cheaper ingredients.' He further elaborated: 'If you can get your supplies at a lower cost, why wouldn't you pass on the savings to your customers?' Despite the explanation, tensions remained high. The rival vendor was not convinced and reiterated his concern, warning that the low price could hurt other burger sellers. Netizens flooded the comment sections, with some expressing support for the affordable pricing, while others sided with the upset vendors, warning of the potential harm to the local market. 'Bro, you put up a huge banner saying, ''Promo, promo... crispy chicken burger RM3.90 only (normal price: RM5.00)'. Automatically people won't go to his shop,' one user called zackxgaming99 commented jokingly. 'True, the market price should be maintained. How about you change your strategy? Keep the price at RM5 per burger, but offer a promo like 'buy 2, get a discount,' so two burgers for RM8,' mynameisarap suggested. Omar_haziq_ questioned: 'Since when is there a 'market price'? Eco sells a 1250ml mineral spritzer for RM5, Aeon sells it for RM3.15, and Speedmart sells it for RM2.40. I buy from Speedmart because it's cheaper. Why should I care about the expensive ones? 'What's all this talk about a 'market price'? If you're in business, you set your own prices—why follow what others are doing?' To this, aliefndy replied, 'Bro, you can't compare with companies that make millions a year. Small vendors like us have to keep an eye on the market price too, so it doesn't devalue our products.'
Malaysian Reserve
22-04-2025
- Business
- Malaysian Reserve
Ho Wah plans private placement to raise up to RM4m for debt repayment and working capital
HO WAH Genting Bhd (HWGB) has proposed a private placement of up to 20.55 million new shares, representing 10% of its issued share capital, to raise an estimated RM4.01 million in proceeds. The placement price will be determined later, based on a discount not exceeding 10% to the five-day volume-weighted average market price prior to price fixing. According to HWGB, the bulk of the proceeds, around RM3.15 million, will be used to partially repay its borrowings, specifically a bridging loan from Advance Opportunity Funds and Advance Opportunity Funds 1, which the group expects will yield gross interest savings of approximately RM130,000 per month. The remainder will go toward payment to creditors, working capital, and placement-related expenses. The board said the private placement is the most cost-effective and expedient way to raise funds compared to other options like a rights issue, especially given the uncertain economic climate. It also noted that the placement would strengthen HWGB's capital base without adding new interest-bearing debt. The group acknowledged the challenges facing its power cord division due to high operating costs, intense market competition, and global uncertainties, but it plans to focus on process efficiency and quality improvements to remain competitive. Additionally, HWGB sees growth potential in its healthcare segment, as consumers increasingly prioritise health, wellness, and personal care products. The private placement is subject to approval from Bursa Malaysia Securities and is expected to be completed in the second half of 2025. — TMR
