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New Straits Times
2 hours ago
- Business
- New Straits Times
Capital A's earnings beat expectations, 2025-2027 forecasts upgraded
KUALA LUMPUR: Capital A Bhd's earnings surpassed Maybank Investment Bank Bhd's (Maybank IB) expectations, driven by stronger-than-anticipated ancillary income, led by baggage fees. As a result, Maybank IB revised its core earnings forecasts for financial years 2025, 2026 and 2027 upwards by 43 per cent, 27 per cent and 27 per cent respectively. Capital A reported a core net profit of RM116.8 million for the first quarter of 2025 (1Q25), covering both aviation and non-aviation segments, which made up 33 per cent of Maybank IB's full-year estimate. Maybank IB said the better-than-expected performance was mainly due to ancillary revenue reaching RM60 per passenger in 1Q25, RM3 higher than initially projected. "Extrapolated over the 16.2 million passengers carried in 1Q25, we estimated that this had a RM30 million to RM40 million positive impact on core earnings. "Focusing on non-aviation, it recorded 1Q25 core net profit of RM37.7 million which was within our expectations at 23 per cent of our financial year estimate," it added. Maybank IB expects stronger earnings for Capital A, supported by a weaker US dollar, with every 1 per cent drop potentially adding around US$2 million (or RM8 million to RM9 million) to pre-tax earnings. Additionally, lower jet fuel prices, with each US$1 per barrel decrease, could contribute approximately US$15.6 million (or RM66.4 million). The firm said Capital A's earnings are also expected to benefit from the return to service of the remaining 9 per cent of its fleet by the third quarter of 2025. The company is aiming to have its practice note 17 (PN17) status lifted by September 2025. Additionally, it is considering a dual listing in Hong Kong and plans to list its Brand AA in the United States.
Borneo Post
21 hours ago
- General
- Borneo Post
New home, new hope for Pitas fire victim
Afnah (second from right) receiving the keys to her new house from Harun (right), alongside the team of caring individuals. KOTA KINABALU (June 1): The burdens of a woman who lost her husband, daughter, uncle, and home in a fire in Pitas last year were eased with the construction of a new house. Mother of three, Afnah Tundan, 51, beamed with joy after receiving the keys to her new home from Parti Gagasan Rakyat Sabah (Gagasan Rakyat) Pitas deputy chief Datuk Harun Ismail. The house, built next to the site of her original home, was made possible through assistance from the Sabah State Welfare Foundation (YKNS) and several compassionate individuals. Afnah described the support as a great blessing from Allah SWT. 'I am unemployed and rely on my two working daughters to support me and my youngest child who is still in school, so I couldn't afford to build a new house,' she said. 'After the tragedy, I had to stay at a family member's house, but now Allah SWT has answered my prayers through the kindness of noble people who made this new home a reality. I'd like to thank everyone involved, especially Datuk Harun Ismail, for initiating this assistance,' she added during the handover ceremony in Kampung Taka on May 31. Harun, who is also the chief executive officer of the Sabah Oil and Gas Development Corporation (SOGDC), said approximately RM61,000 was spent on constructing the 500-square-foot house, which began in March. He said YKNS allocated RM30,000 for the project, with the remaining cost covered by concerned individuals as part of their corporate social responsibility (CSR) efforts. The new home includes two bedrooms, a kitchen, a bathroom and basic amenities such as water, electricity, lighting and ceiling fans. 'Afnah's house is now fully ready for her and her children. We hope it brings a new ray of hope to their family,' Harun said. In early August last year, a tragic fire in Kampung Taka claimed the lives of the SK Senaja headmaster, his 12-year-old daughter, and another family member, leaving Afnah without her loved ones and home.
New Straits Times
a day ago
- Sport
- New Straits Times
Rising star Izz Naqiuddin bowls to KL Open victory
SUBANG JAYA: Rising national bowler Izz Naqiuddin Putera Islahuddin continued to stake his claim as a future star after clinching the Mixed Open title at the Kuala Lumpur Open on Sunday. The 21-year-old topped a strong 36-bowler field with 1,993 pinfalls over 10 games at Sunway Mega Lanes, finishing ahead of Ahmad Azriq Izam (1,951) and Ahmad Aidil Abdul Halim (1,882). The field included national stars like Rafiq Ismail and Tun Hakim Tun Hasnul Azam, as well as regional heavyweights Ryan Lalisang, Yannaphon Larpapharat and Australia's Sam Cooley — making Izz's win all the more impressive. "It felt great to come out on top today, especially in a field that had my idol Rafiq Ismail," said Izz, who earned RM30,000 in prize money. "I bowled consistently, didn't have to adjust much. I'm happy because hard work pays off." The victory marked Izz's third career title after winning the Penang Pesta International in 2023 and the Sonic Classic in Singapore last year. The win was also a timely response after a poor title defence at the Sonic Classic and a 16th-place finish at the Malaysian Open last month. Izz was a surprise pick for last year's Asian Championships in Bangkok, selected ahead of regulars like Timmy Tan and Ahmad Muaz Fishol, and he justified it by helping Malaysia win team silver. Now eyeing a spot at the World Championships in Hong Kong or Sea Games in Thailand later this year, Izz hopes this title will boost his case. "This gives me confidence. Only six make the squad, and it would be my debut if I get in," he said. "I'm saving most of the prize money but plan to buy something nice for my dad too." Nur Syazwani Sahar also impressed, retaining her women's Open title with a 10th-place finish (1,776). The 26-year-old had only returned from the United States last Friday after finishing joint 13th at the USBC Queens, where she competed against nearly 200 bowlers. "I started with a perfect game, but a bad pair of lanes threw me off. I regrouped and aimed for a 200 average, finishing with a 243," she said. "Given the jet lag, I'm pretty satisfied." Syazwani took home RM7,850 — RM7,000 for the women's crown and RM850 for her overall finish — and now shifts focus to next week's Singapore Open, where she's targeting a top-10 result. Faten Najihah Ahmad Faik and Lavinia Kho finished as the second and third-best women respectively. Among other notable national stars, Ahmad Muaz Fishol (1,815) and Hafiz Zainuddin (1,813) placed sixth and seventh, while Tun Hakim (1,786) was ninth. Rafiq (1,732) and Timmy Tan (1,706) ended 16th and 19th.
The Sun
a day ago
- Sport
- The Sun
Izz Naqiuddin claims third major title, beats idol Rafiq at KL Open
NATIONAL bowler Izz Naqiuddin Putera Islahuddin could not contain his excitement after stunning his idol and 2018 world champion Muhammad Rafiq Ismail on home ground at the Kuala Lumpur International Open Bowling Championships 2025 held at Sunway Megalanes here today. The 21-year-old rising star delivered a stellar performance to clinch the Men's Open Masters Final title with a total pinfall of 1,993, edging out Ahmad Azriq Izam (1,951) and Ahmad Aidil Abdul Halim (1,882), who finished second and third, respectively. 'It feels incredibly satisfying and exciting to beat my idol, Muhammad Rafiq. This is actually my second win over him, the first being in Singapore. 'To make it even sweeter, this is my maiden title at Sunway, the very place I started training when I was 19,' he told reporters after his triumph. He attributed his success to maintaining focus and consistency throughout the tournament, while refraining from making drastic changes to his game. Izz Naqiuddin took home RM30,000 in prize money and gave his performance a resounding '10 out of 10'. This victory marks the third major title of his career, adding to his wins at the Penang International Bowling Festival in 2023 and the Singapore Open in 2024. Meanwhile, Rafiq settled for 16th place with a total pinfall of 1,732. In the women's division, national bowler Nur Syazwani Sahar emerged as the top performer with a pinfall of 1,776. 'Overall, I think I bowled well, but I struggled a bit in games one to five due to a 'bad pair'. Fortunately, I managed a strong comeback in the final game. 'I'm satisfied with my performance. Next up is the Singapore Open, and my target is to break into the top 10,' she said.
New Straits Times
2 days ago
- Business
- New Straits Times
NST Leader: Closing the 'leak' in gas subsidy abuse
IT comes as no surprise that retailers are once again manipulating subsidies. This time, large commercial kitchens and hawkers have been found misusing the supply of subsidised liquefied petroleum gas (LPG) cylinders meant for household cooking. Following this discovery, the government, effective May 1, prohibited restaurants and eateries, including hawkers, from using the subsidised LPG cylinders, priced at RM26 a unit. Instead, they were ordered to use purple 14kg cylinders at RM70 per unit. Additionally, kitchens must apply for an annual permit if they need more than three cylinders. From May 1 to 20, Domestic Trade and Cost of Living Ministry enforcement officers seized RM883,000 worth of goods from eateries found to be violating the directive. Why the ban? In exploiting an illegal loophole, these commercial kitchens bought the subsidised cylinders in bulk by deceiving mobile gas sellers into delivering them to homes under the false pretence of household use. The cylinders are then transferred to the commercial kitchens. The lower gas price leads to higher profit margins for these eateries, allowing them to sell dishes at RM28 or more, when the same dish might cost only RM8 to RM10 at food stalls. Commercial kitchens had been exploiting this loophole for years, but the current enforcement only partially addresses the problem. Previously, operators rarely absorbed spiked operating costs and instead passed them on to consumers. In this case, commercial kitchens have conveniently "blamed" the higher cost of their cuisine on the government's "subsidy withdrawal", which did not happen. Food and beverage industry trade representatives are appealing for understanding, requesting time to adjust to the new commercial LPG prices while also contesting the ongoing seizures. While this is happening, what actions can curb rising eatery costs? Food businesses could adjust menu prices, optimise cooking practices and explore alternative energy sources. Waste reduction and efficient supply chain management can also reduce costs. Crucially, any price adjustments should be communicated to customers. Commercial kitchens could also strategise by bulk purchasing, negotiating better supplier rates and optimising deliveries, especially e-hailing orders. They could use customer loyalty programmes and discounts to encourage repeat business during inflationary periods. While the food business overhaul incurs costs, the government could assist by setting commercial LPG prices to start at the RM30 to RM50 range, then gradually raise them. Also, government subsidies or programmes related to LPG and other energy sources should be easily available. If commercial kitchens can cleverly source cheaper LPG cylinders, they can apply similar creative skills to reduce fuel costs, ultimately keeping delicious cuisines affordable.
