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New Straits Times
22-04-2025
- Business
- New Straits Times
Petronas Chemicals to drive operational, commercial resilience to boost growth
KUALA LUMPUR: Petronas Chemicals Group Bhd (PCG) is doubling down on its operational and commercial excellence and focusing on safety, plant optimisation, and asset reliability to strengthen resilience. Managing director/chief executive officer Mazuin Ismail said the integrated chemicals producer continues to operate in an increasingly uncertain global environment, intensified by trade tensions and ongoing market volatility. "While we have observed some improvement in commodity prices and a modest recovery in specialty chemicals demand during the first quarter of 2025, the overall outlook remains cautious," he said in a statement today. Mazuin said at the same time, PCG is continuing with its stringent financial discipline and prudent capital spending. He added that the company's growth strategy focuses on building a robust project pipeline that responds to evolving industry dynamics, while leveraging its global innovation network to deliver cutting-edge solutions. "Through these efforts, PCG remains strongly committed to long-term value creation for stakeholders and to stay competitive in an increasingly challenging environment," Mazuin said. PCG today held its 27th annual general meeting to present the company's performance to its shareholders for the financial year ended Dec 31, 2024 (FY2024). Its net profit fell to RM1.175 billion in FY2024 from RM1.696 billion in the preceding year, in line with lower earnings before interest, tax, depreciation and amortisation (Ebitda) and share of loss from associates and joint-ventures. Revenue for the year rose to RM30.67 billion against RM28.67 billion year-on-year on the back of sales volume growth across its three business segments. -- BERNAMA
Associated Press
27-02-2025
- Business
- Associated Press
SCIB Reports Q2FY2025 with Revenue of RM49.83 Million and PBT Growth of 55.32% to RM2.38 Million
KUCHING, MALAYSIA / ACCESS Newswire / February 27, 2025 / Industrialised building systems specialist, Sarawak Consolidated Industries Berhad ('SCIB' or the 'Company') is pleased to announce its financial results for the second quarter ended 31 December 2024 ('Q2FY2025"), demonstrating a turnaround with a revenue of RM49.83 million and a Profit Before Tax ('PBT') of RM2.38 million. This represents an improvement compared to the previous year's corresponding quarter, underscoring the Company's resilient operational strategies, cost efficiency, and steady business recovery. SCIB's Q2FY2025 revenue of RM49.83 million reflects a robust 30.83% increase compared to RM38.09 million in Q2FY2024. Similarly, PBT surged by 55.32% from RM1.53 million to RM2.38 million, primarily driven by contributions from both the Manufacturing and Construction/Engineering, Procurement, Construction and Commissioning ('EPCC') segments. The Manufacturing division, which remains SCIB's core business, recorded RM30.67 million in revenue in the current quarter, an increase from RM28.76 million in the corresponding quarter of the previous year, bolstered by high demand for foundation piles, IBS products, and other precast concrete solutions. Meanwhile, the Construction/EPCC segment experienced an increase of revenue from RM9.33 million in Q2FY2024 to RM19.16 million in Q2FY2025, which resulted in a segmental PBT of RM1.90 million as compared to a Loss Before Tax ('LBT') of RM0.18 million in Q2FY2024. Compared to the immediate preceding quarter ('Q1FY2025"), SCIB recorded a revenue increase from RM45.15 million to RM49.83 million, representing a 10.38% quarter-on-quarter growth. PBT also improved significantly, rising from RM0.14 million in Q1FY2025 to RM2.38 million in Q2FY2025, driven by improved project execution and enhanced operational efficiencies. The Manufacturing segment remained stable with RM30.67 million in revenue, continuing its positive trajectory with demand for SCIB's IBS components and foundation piles. Meanwhile, the Construction/EPCC division rebounded highly with a 52.10% increase in revenue from RM12.60 million in Q1FY2025 to RM19.16 million in Q2FY2025, coupled with a turnaround from a segment loss to a PBT of RM1.90 million, demonstrating improved project execution and disciplined cost management. Ku Chong Hong, Managing Director of SCIB Mr. Ku Chong Hong, Managing Director of SCIB, commented, 'We are pleased to report a financial turnaround in Q2FY2025, driven by the continued growth in our manufacturing and construction/EPCC segments. Our strategic execution and operational efficiencies have resulted in increased profitability, reaffirming the strength of our business fundamentals. The EPCC segment has rebounded with stronger project execution, while our manufacturing division continues to deliver steady revenue growth through rising demand for IBS and precast concrete products in key infrastructure projects.' He further added, 'In line with our commitment to strengthening our financial foundation, we have successfully secured RM48.00million in Islamic banking facilities from Affin Islamic Bank Berhad and an additional RM21.20 million from RHB Islamic Bank Berhad. These facilities provide us with greater financial flexibility to support ongoing and future projects, ensuring a sustainable pipeline of business opportunities. Additionally, the recent land acquisitions in Bintulu, totalling 9.84 hectares across two transactions, position us well for future expansion. These acquisitions will facilitate collaborations with developers for residential housing projects, integrating SCIB's in-house manufactured products to enhance our value proposition in the market. We remain committed to leveraging these strategic investments to drive long-term, sustainable growth.' SCIB remains optimistic about Malaysia's construction and infrastructure sector, bolstered by major government-led initiatives under Budget 2025. With RM421 billion allocated, including RM86 billion for development expenditure, the government's focus on large-scale infrastructure projects presents significant opportunities for industry players. The RM5.9 billion allocated for Sarawak, which includes investments in public infrastructure, education, healthcare, and transport networks, will further drive demand for IBS and precast concrete solutions. SCIB is strategically positioned to capitalise on key projects such as the Sabah-Sarawak Link Road ('SSLR'), the RM6.1 billion North Coastal Highway project, and various school and healthcare facility upgrades in Sarawak. By leveraging the manufacturing expertise and expanding its construction capabilities, SCIB is well-positioned to seize new opportunities in both local and regional markets, reinforcing its commitment to delivering sustainable growth and long-term value for stakeholders. ABOUT SARAWAK CONSOLIDATED INDUSTRIES BERHAD Sarawak Consolidated Industries Berhad ('SCIB') was founded in 1975 and has evolved from a small enterprise into a reputable Group of companies listed on the Main Market of Bursa Malaysia Securities Berhad. Currently, SCIB is operating three factories in Kuching, Sarawak, one factory in the Pending Industrial Estate and two factories in the Demak Laut industrial park. SCIB is well known for professional management and has long history of innovative ideas and technological advances. Coupled with its wealth of experience and research acquired in more than three decades, SCIB offers its clients in-depth expertise through a combination of technology, efficiency and speed. Jazzmin Wan
