Latest news with #RM3.7
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
AirAsia X, Capital A extend aviation restructuring deadline to July 31
AirAsia X Bhd and Capital A Bhd have extended the deadline for their aviation business restructuring deal by two months – from May 31 to July 31, 2025 – to allow time for finalising the terms of AirAsia X's RM1 billion private placement and securing regulatory and lender approvals. In filings to Bursa Malaysia, the companies noted that due diligence for AirAsia Aviation Group and AirAsia Bhd has been completed. The proposed restructuring involves AirAsia X acquiring AirAsia Aviation Group for RM3 billion and AirAsia Bhd for RM3.8 billion, alongside a RM1 billion fundraising exercise led by a sovereign wealth fund. AirAsia X's shares closed 2.33% lower at RM1.68 today, with a market capitalisation of RM751.1 million. Capital A slipped 2.3% to 85 sen, valuing the group at RM3.7 billion. — TMR
The Star
13-05-2025
- Business
- The Star
Malaysia's wholesale, retail trade records RM154bil sales in March 2025
KUALA LUMPUR: Malaysia's wholesale and retail trade sector recorded total sales of RM154 billion in March 2025, marking a year-on-year (y-o-y) growth of 5.7 per cent, said the Department of Statistics Malaysia (DOSM). Chief statistician Datuk Seri Mohd Uzir Mahidin said the growth was driven by the retail trade and wholesale trade sub-sectors. "Retail trade recorded total sales of RM67 billion, an increase of RM4.2 billion or 6.6 per cent y-o-y. Wholesale trade registered total sales of RM67.8 billion in sales, up RM3.7 billion or 5.7 per cent y-o-y. "During the same period, the motor vehicles sub-sector posted sales of RM19.2 billion, reflecting a 2.3 per cent increase from a year ago," he said in a statement today. Mohd Uzir also emphasised that the growth in the retail trade sub-sector was supported by strong performance across various categories, spurred by festive season preparations and increased spending during Ramadan. He noted that the disbursement of Special Aidilfitri Assistance, along with RM1.7 billion under the Sumbangan Tunai Rahmah (STR), significantly boosted consumer activity. "This led to higher consumer traffic in supermarkets, shopping malls, and other retail outlets," he added. In March 2025, Mohd Uzir said the wholesale trade remained resilient, underpinned by strong domestic demand for household goods and food items, in conjunction with the festive season. Sales in the wholesale of household goods rose 7.6 per cent to RM14.5 billion, supported by higher demand in categories such as pharmaceutical and medical goods, perfumeries, cosmetics, toiletries, and jewellery. "The wholesale of food, beverages and tobacco also saw a 7.7 per cent increase, reaching RM14 billion," he said. Meanwhile, the motor vehicles sub-sector recorded growth compared to March last year, led by a 4.1 per cent rise in sales of motor vehicle parts and accessories to RM5.2 billion, followed by a 1.5 per cent increase in motor vehicle sales to RM10.1 billion. DOSM also reported that online retail sales rose by 7.1 per cent y-o-y in March, driven by festive promotions. "In terms of volume index, the wholesale and retail trade increased by five per cent y-o-y. This growth was mainly driven by the wholesale trade sub-sector, which rose by 6.3 per cent, followed by retail trade with a 4.9 per cent increase," it added. - Bernama
Daily Express
08-05-2025
- Business
- Daily Express
Chambers sign pact to boost trade ties
Published on: Thursday, May 08, 2025 Published on: Thu, May 08, 2025 By: Bernama Text Size: Sok (right) exchanges an MoU with his Malaysian counterpart Ng. PHNOM PENH: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Cambodia Chamber of Commerce (CCC) have launched a joint initiative to enhance economic cooperation and increase bilateral trade. The two chambers signed a memorandum of understanding (MoU) on Tuesday to formalise their collaboration, according to a statement from CCC. ACCCIM President Datuk Ng Yih Pyng said the delegation aimed to partner with its Cambodian counterpart to explore new economic opportunities in the Kingdom. 'The main objective of the visit is to explore potential cooperation and promote sustainable events in Asean,' said Ng. The MoU sets out a framework for promoting economic ties and encouraging trade and investment between both countries. Bilateral trade between Malaysia and Cambodia reached about RM3.7 billion (US$865 million) in 2024. Malaysia's key exports to Cambodia include petroleum products, chemicals, textiles, apparel, footwear, metals, and non-metallic mineral products. Cambodian officials pointed to the country's young and energetic workforce, a productive investment climate, and supportive government policies as key advantages. 'There is a close economic relationship between Cambodia and Malaysia, strong trade demand, and Malaysian investment in key sectors,' said CCC Vice President Sok Piseth, according to the statement. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
BusinessToday
24-04-2025
- Business
- BusinessToday
MAHB's New Owners' Decision Could Worry WCT
CIMB Investment Bank Bhd (CIMB Securities) has maintained its HOLD rating on WCT Holdings Bhdwhile lowering its target price to RM0.70 from RM0.87. The company cited heightened uncertainty surrounding the group's new order book outlook and the potential impact of a review of the Subang Airport Regeneration Plan (SARP). The research house has cut its FY25F–27F new contract win projections by 17–50%, now expecting between RM500 million and RM1 billion worth of new jobs annually, down from previous estimates. Analysts believe the recent acquisition of Malaysia Airports Holdings Bhd (MAHB) by the Gateway Development Alliance may lead to a reassessment of the SARP. WCT, through its 60%-owned unit Subang Skypark Sdn Bhd (SSSB), holds a 30-year sub-concession with MAHB for Subang Airport operations. This concession ends in December 2027, with a potential extension of another 29 years. In FY2023, SSSB posted a net loss of RM4.9 million, narrowing from RM5.8 million a year earlier. WCT had previously anticipated the SARP to unlock RM1 billion in job opportunities and revitalise commercial prospects at Subang Skypark. However, according to local news, MAHB is now reviewing the SARP to align it with the Kuala Lumpur International Airport master plan, which could dampen short-term growth potential at Subang. The plan's original RM3.7 billion budget aimed to expand Subang Airport's passenger capacity to eight million by 2030 and enlarge its business aviation footprint to nearly four million sq ft of gross floor area. In addition to the SARP reassessment, AirAsia's relocation of domestic operations to KLIA Terminal 2 in April is seen as a further setback. As at mid-February, WCT's tender book exceeded RM13 billion, though no major new wins have been recorded year-to-date, leaving its outstanding order book at RM2.8 billion as of end-2024. On a more positive note, CIMB Securities highlighted the potential balance sheet boost from the proposed listing of Paradigm REIT by the second quarter of 2025. WCT plans to inject Paradigm Mall PJ, Paradigm Mall JB, and Bukit Tinggi Shopping Centre into the REIT in a RM2.4 billion deal, to be settled through 1.6 billion new REIT units and RM837 million in cash. WCT is expected to retain a 60.7% stake post-listing. The move is anticipated to be earnings-accretive, with WCT's pro forma net loss for FY23 projected to narrow by 14% to RM202 million. The listing would also improve net gearing significantly from 92% to 47%, helping to strengthen its financial position. Despite the REIT uplift, CIM Securities has widened WCT's sum-of-the-parts (SOTP) discount to 70% from 60%, reflecting lingering concerns over future job flows and potential delays in project execution. The stock is trading at a price-to-book ratio of 0.3 times, in line with its historical mean. Related
The Sun
22-04-2025
- Business
- The Sun
Online scams cost 302 Pahang Govt retirees over RM20m since 2022
KUANTAN: Over the past three years, from 2022 to 2024, online scams have cost retired civil servants in Pahang more than RM20 million, affecting 302 individuals, the Pahang legislative assembly was told today. State Consumer Affairs and Human Resources Committee chairman Sim Chon Siang said that in 2022, 85 retirees were scammed, incurring losses of more than RM8.9 million. In 2023, 102 retirees were duped, with losses totalling RM3.7 million, while in 2024, 115 victims recorded losses amounting to RM8.9 million. 'Over the same period, 5,658 other individuals were also targeted in online scams, with total losses reaching RM120 million,' he said during the assembly sitting at Wisma Sri Pahang. He was responding to a question from appointed assemblyman Datuk Wong Tat Chee, who asked how many people in Pahang had fallen victim to online scams in the past three years, and the total losses involving retired civil servants. Meanwhile, State Agriculture, Agro-based Industry, Biotechnology and Education Committee chairman Datuk Seri Mohd Soffi Abd Razak, said the state government has implemented the Pahang Hybrid School Pilot Project in six schools under the Ministry of Education's Digital Education Policy. He said each school was allocated five classrooms, bringing the total number of classrooms involved to 30. The schools selected for the pilot project are Sekolah Menengah Kebangsaan (SMK) Abdul Rahman Talib and SMK Sultanah Hajjah Kalsom in Kuantan, SMK Seri Jengka (Maran), SMK Padang Saujana (Jerantut), SMK Sulaiman (Bentong) and SMK Agama Kuala Lipis (Lipis). He was addressing Datuk Mustapa Long (BN–Padang Tengku), who asked for the list of schools and the number of classrooms involved in the pilot phase of the Digital Education Policy, as well as the sources of funding to support the initiative. Mohd Soffi added that the pilot project also includes SMK RPS Betau in Lipis, a Kampung Angkat MADANI school, which has been allocated two classrooms.
