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New Straits Times
3 days ago
- Business
- New Straits Times
Ge-Shen's earnings surge 58pct, revenue eases in Q1
KUALA LUMPUR: Contract manufacturer Ge-Shen Corporation Bhd posted a 58 per cent jump in net profit to RM5.28 million for the first quarter ended March 31, 2025 (Q1FY25), from RM3.34 million a year ago. The higher profit was driven by strong cost control, better production efficiency, a more focused product and customer base, and gains from the sale of a vacant land in Johor. However, its revenue fell 26.2 per cent to RM54.49 million from RM73.85 million in Q1FY24, mainly due to the impact of US tariffs. Quarter-on-quarter, Ge-Shen's net profit rose sharply from RM3.07 million in the fourth quarter of 2024 to RM5.14 million in Q1FY25, according to the company's filing with Bursa Malaysia. Its revenue dropped 6.4 per cent from RM58.23 million, affected by currency fluctuations and festive season delivery delays. Ge-Shen chief executive officer Dr Adrian Foong Hong Nian said it is taking a cautious approach to spending and expansion amid ongoing tariff uncertainties. "The latest US tariff changes in April 2025 have had minimal impact thanks to our diverse supply chain and risk control efforts. "Our stronger profit came from better cost management. We cut material costs, adjusted workforce levels, and controlled other expenses," he said. Recently, Ge-Shen increased its stake in Kibaru Manufacturing Sdn Bhd to 72 per cent, highlighting its push into the medical device sector. Kibaru specialises in rubber compression and liquid silicone rubber moulding. Over 60 per cent of Kibaru's revenue comes from the medical sector, aligning well with Ge-Shen's growth plans. The company remains positive about its growth outlook, despite concerns over global trade and potential wage hikes in Malaysia and Vietnam. Ge-Shen is aiming for double-digit annual revenue growth by focusing on high-value sectors like medical, industrial, consumer, artificial intelligence, and data centres. "With more automation, better use of enterprise software, and strategic asset sales, Ge-Shen is on track to maintain growth in 2025," it said.
New Straits Times
29-04-2025
- New Straits Times
Johor police smash five drug syndicates, seize nearly 70kg drugs worth RM9mil
JOHOR BARU: Johor police have arrested five men, including a Singaporean, and seized nearly 70kg of drugs worth RM9 million during a five-day crackdown on drug syndicates across four districts between April 20 and 24. State police chief Datuk M. Kumar said five syndicates were crippled. Three of the syndicates had used vehicles to store drugs, while two others used apartments as storage sites. In the first operation on April 20 at 1.30pm along Jalan Abdullah Tahir, a 22-year-old local man was arrested and 9.35kg of ecstasy and 62g of ketamine were seized. The drugs, worth RM1.57 million, were found in an apartment the suspect had rented since early March. The next operation took place on April 21 around 11.30pm at a jetty in Batu Pahat. A 36-year-old local man was arrested with 20.71kg of syabu and 13.99g of Erimin 5 pills, valued at RM3.34 million. Kumar said the second syndicate used a Ford Ranger to store and distribute drugs across the border. The vehicle was operated under someone else's name. On April 23, police busted another syndicate in Kota Tinggi, arresting a 36-year-old local man and seizing 20kg of ecstasy worth RM1.72 million. The suspect had used a rented Honda Civic to store and process the drugs to evade detection. In another raid in Kluang on the same day, authorities seized 9.90kg of ecstasy, 187.30g of ketamine, and a significant quantity of Erimin 5 pills, worth RM1.69 million. A 33-year-old local man was arrested for allegedly using a Proton Iswara to store and distribute the drugs. Later that day, a 47-year-old Singaporean man was arrested at an apartment in Danga Bay at 10pm. He is suspected of using a fake national identity card and had been renting the unit for several months. "In total, we seized 10kg of ecstasy powder, 31.30g of ketamine, 44g of marijuana, nine grams of heroin, six grams of ecstasy pills, and 1.20g of yaba pills, valued at RM1.68 million," Kumar said. All five suspects tested positive for methamphetamine and have been remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952.
The Sun
29-04-2025
- The Sun
Johor police dismantle five drug syndicates, seize nearly 70 kg of drugs worth RM9 million
JOHOR BAHRU: Johor police arrested five men, including a Singaporean, and seized nearly 70 kilogrammes (kg) of drugs worth RM9 million across four districts during a crackdown on drug syndicates in the state from April 20 to 24. State police chief Datuk M. Kumar said that in total, five drug trafficking syndicates were successfully dismantled, three of which used vehicles as drug storage sites, while the other two involved apartments. He added that a 22-year-old local man was arrested in the first operation on April 20 at 1.30 pm along Jalan Abdullah Tahir, with the seizure of 9.35 kg of ecstasy and 62 grams of ketamine, valued at RM1.57 million. 'These drugs were discovered during an inspection of an apartment rented by the suspect since early March,' he said at a press conference at the Johor contingent police headquarters today. He added that the next operation took place on April 21 at around 11.30 pm at a jetty in Batu Pahat, where a 36-year-old local man was arrested with the seizure of 20.71 kg of syabu and 13.99 grams of Erimin 5 pills, valued at RM3.34 million. Kumar said the second syndicate used a Ford Ranger to store and distribute drugs to the neighbouring country, with the suspect operating the vehicle under someone else's name. He also noted that on April 23, police dismantled another syndicate in Kota Tinggi, arresting a 36-year-old local man and seizing 20 kg of ecstasy worth RM1.72 million. The suspect had used a rented Honda Civic to store and process the drugs to avoid detection. In another raid in Kluang on the same day, authorities seized 9.90 kg of ecstasy, 187.30 grams of ketamine, and 78.30 Erimin 5 pills, valued at RM1.69 million. Kumar said a 33-year-old local man was arrested in this operation for allegedly using a Proton Iswara to store and distribute drugs. Also on April 23, a 47-year-old Singaporean man was arrested at an apartment in Danga Bay at 10 pm, suspected of using a fake national identity card and renting the apartment for several months. 'In total, we managed to seize 10 kg of ecstasy powder, 31.30 grams of ketamine, 44 grams of marijuana, nine grams of heroin, six grams of ecstasy pills, and 1.20 grams of yaba pills, all valued at RM1.68 million,' he added. Kumar also said that all five suspects, who tested positive for methamphetamine, have been remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952.
New Straits Times
29-04-2025
- New Straits Times
Johor police dismantle five drug syndicates, seize nearly 70kg drugs worth RM9mil
JOHOR BARU: Johor police arrested five men, including a Singaporean, and seized nearly 70 kg of drugs worth RM9 million across four districts during a crackdown on drug syndicates in the state from April 20 to 24. State police chief Datuk M. Kumar said that in total, five drug trafficking syndicates were successfully dismantled, three of which used vehicles as drug storage sites, while the other two involved apartments. He added that a 22-year-old local man was arrested in the first operation on April 20 at 1.30pm along Jalan Abdullah Tahir, with the seizure of 9.35 kg of ecstasy and 62 grams of ketamine, valued at RM1.57 million. "These drugs were discovered during an inspection of an apartment rented by the suspect since early March," he said at a press conference at the Johor contingent police headquarters today. He added that the next operation took place on April 21 at around 11.30pm at a jetty in Batu Pahat, where a 36-year-old local man was arrested with the seizure of 20.71 kg of syabu and 13.99 grams of Erimin 5 pills, valued at RM3.34 million. Kumar said the second syndicate used a Ford Ranger to store and distribute drugs to the neighbouring country, with the suspect operating the vehicle under someone else's name. He also noted that on April 23, police dismantled another syndicate in Kota Tinggi, arresting a 36-year-old local man and seizing 20 kg of ecstasy worth RM1.72 million. The suspect had used a rented Honda Civic to store and process the drugs to avoid detection. In another raid in Kluang on the same day, authorities seized 9.90 kg of ecstasy, 187.30 grams of ketamine, and 78.30 Erimin 5 pills, valued at RM1.69 million. Kumar said a 33-year-old local man was arrested in this operation for allegedly using a Proton Iswara to store and distribute drugs. Also on April 23, a 47-year-old Singaporean man was arrested at an apartment in Danga Bay at 10 pm, suspected of using a fake national identity card and renting the apartment for several months. "In total, we managed to seize 10 kg of ecstasy powder, 31.30 grams of ketamine, 44 grams of marijuana, nine grams of heroin, six grams of ecstasy pills, and 1.20 grams of yaba pills, all valued at RM1.68 million," he added. Kumar also said that all five suspects, who tested positive for methamphetamine, have been remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952.
The Sun
29-04-2025
- The Sun
Johor police dismantle five drug syndicates, seize nearly 70kg of drugs
JOHOR BAHRU: Johor police arrested five men, including a Singaporean, and seized nearly 70 kilogrammes (kg) of drugs worth RM9 million across four districts during a crackdown on drug syndicates in the state from April 20 to 24. State police chief Datuk M. Kumar said that in total, five drug trafficking syndicates were successfully dismantled, three of which used vehicles as drug storage sites, while the other two involved apartments. He added that a 22-year-old local man was arrested in the first operation on April 20 at 1.30 pm along Jalan Abdullah Tahir, with the seizure of 9.35 kg of ecstasy and 62 grams of ketamine, valued at RM1.57 million. 'These drugs were discovered during an inspection of an apartment rented by the suspect since early March,' he said at a press conference at the Johor contingent police headquarters today. He added that the next operation took place on April 21 at around 11.30 pm at a jetty in Batu Pahat, where a 36-year-old local man was arrested with the seizure of 20.71 kg of syabu and 13.99 grams of Erimin 5 pills, valued at RM3.34 million. Kumar said the second syndicate used a Ford Ranger to store and distribute drugs to the neighbouring country, with the suspect operating the vehicle under someone else's name. He also noted that on April 23, police dismantled another syndicate in Kota Tinggi, arresting a 36-year-old local man and seizing 20 kg of ecstasy worth RM1.72 million. The suspect had used a rented Honda Civic to store and process the drugs to avoid detection. In another raid in Kluang on the same day, authorities seized 9.90 kg of ecstasy, 187.30 grams of ketamine, and 78.30 Erimin 5 pills, valued at RM1.69 million. Kumar said a 33-year-old local man was arrested in this operation for allegedly using a Proton Iswara to store and distribute drugs. Also on April 23, a 47-year-old Singaporean man was arrested at an apartment in Danga Bay at 10 pm, suspected of using a fake national identity card and renting the apartment for several months. 'In total, we managed to seize 10 kg of ecstasy powder, 31.30 grams of ketamine, 44 grams of marijuana, nine grams of heroin, six grams of ecstasy pills, and 1.20 grams of yaba pills, all valued at RM1.68 million,' he added. Kumar also said that all five suspects, who tested positive for methamphetamine, have been remanded until tomorrow for further investigation under Section 39B of the Dangerous Drugs Act 1952.
