Latest news with #RM320
New Straits Times
3 days ago
- Business
- New Straits Times
CTOS' latest interim results fall short as firm lowers FY2025 revenue guidance
KUALA LUMPUR: CTOS Digital Bhd's first half of 2025 (1H25) results fell short of expectations due to the pressure from a weaker gross margin in the second quarter due to an unfavourable sales mix, said CIMB Securities. The results reached just 35 per cent of CIMB Securities's and 33 per cent of consensus full-year forecasts. "CTOS declared a second interim dividend per share (DPS) of 0.65 sen, bringing 1H25 DPS to 1.09 sen - below our expectations. "Meanwhile, net profit declined 22.4 per cent year on year (YoY) to RM36.7 million in 1H25, weighed down by the less-favourable sales mix and higher operating costs," it said in a note. CIMB Securities said CTOS had lowered its financial year 2025 (FY25) revenue guidance to RM320 million from RM352 million and its FY25 net profit forecast to RM87.5 million from RM120.5 million at the mid-point. This implies a 19 per cent YoY decline in net profit in FY25F, down from the previously guided 11 per cent growth. "The downgrade reflects delays in project conversion due to extended sales cycles, a strategic shift to exit low-yielding projects, and a change in several customers' spending patterns. "While ongoing cost optimisation efforts should support a rebound in 2H25, earnings are still expected to remain below 2H24 levels," it said. CIMB Securities cut its FY25 to FY27 earning per share (EPS) estimates by 24–32 per cent to reflect a less-favourable sales mix. This is due to slower conversion in the higher-margin key account and commercial segments, as well as higher tax expenses starting FY26. "CTOS' pioneer tax status is set to expire in November 2026, which may lead to higher effective tax rates in FY27. We now forecast a 26 per cent YoY net profit decline in FY25, followed by a recovery to 13 per cent growth in FY26. "With the downward revisions to our earnings forecasts, we downgrade the stock to Hold from Buy with a lower target price of 90 sen," it added.
New Straits Times
01-07-2025
- Business
- New Straits Times
Avaland buys PJ land for RM49mil
KUALA LUMPUR: Property developer Avaland Bhd is set to strengthen its foothold in the Klang Valley with the acquisition of a 0.88-hectare leasehold land in Section 13, Petaling Jaya for RM49 million. The parcel, currently occupied by a showroom and warehouse, is earmarked for a high-rise commercial development with a projected gross development value of RM320 million. In a filing with Bursa Malaysia, the company said its wholly owned Leisure Event Sdn Bhd had signed a conditional sale and purchase agreement with Comit Communication Technologies (M) Sdn Bhd on July 1. The land, which has a remaining lease tenure of 50 years, will be delivered with vacant possession upon completion of the deal. It is currently zoned for mixed-use development and benefits from proximity to key urban amenities and transport infrastructure. Avaland said the purchase consideration was arrived at on a willing-buyer, willing-seller basis, and is supported by an independent valuation from CBRE WTW Valuation & Advisory Sdn Bhd, which appraised the land at RM49 million. "The land's strategic location within a mature and affluent neighbourhood, coupled with excellent connectivity via major highways and public transportation, offers strong development potential," it said. The acquisition will be funded through a combination of internally generated funds and bank borrowings, with the exact mix to be determined later. Barring unforeseen circumstances, the deal is expected to be completed by the fourth quarter of 2025. Avaland chief executive officer Apollo Bello Tanco said the upcoming project will be part of its AVA Prime series, which focuses on offering well-designed, high-quality homes crafted to cater to professionals and expanding families. "We are confident that this addition to our landbank will further strengthen our development pipeline and contribute positively to the group's long-term earnings," he said.
The Sun
04-06-2025
- Business
- The Sun
Malaysia's Largest Padel Tournament Registration Now Open
THE Volvo Padel Open is set to return in 2025 with its most ambitious edition yet, promising a larger prize pool, expanded competition categories, and enhanced participant experience. The tournament, recognised as the largest of its kind in Malaysia, will run from June 21 to July 27 2025, with registration now officially open. Organised in collaboration with three prominent padel venues in the Klang Valley – Joy Division Padel, Padelground, and PadelKu – this year's tournament will accommodate up to 320 players. Competitors will vie for a share of prizes exceeding RM180,000 in value, including cash, merchandise, complimentary court hours, and an exclusive week-long experience in a fully-electric Volvo vehicle. The registration window closes on July 3, 2025, with a one-off entry fee of RM160 per person or RM320 per team. In a show of appreciation to its customers, Volvo is offering a 50% discount on individual registration fees for Volvo vehicle owners. Acknowledging the rising calibre of local players, the 2025 edition introduces three refined competition categories – Beginner, Intermediate, and Advanced – aimed at accommodating both seasoned competitors and those new to the sport. The Beginner category will now feature an 'americano' format during the qualifying rounds, enabling individual players to partner with multiple teammates in a rotation system. Points are earned through each match, and the top 16 male and female scorers will move on to the semifinals, which are divided into men's and women's divisions. Intermediate and Advanced players will participate in men's or mixed team formats from the outset. Qualifying rounds will adopt a round-robin structure with sets capped at five games. Those advancing will face off in elimination matches played to seven games, with finalists competing in a full match format. READ ALSO: Volvo Padel Open Returns with new format and renewed commitment to local talent To ensure equitable competition, players in the Beginner and Intermediate tiers must undergo skill assessments conducted by professional coaches prior to the tournament. These evaluations will determine appropriate category placement based on actual playing ability. In preparation for the main event, coaching clinics will be made available at no cost for participants in the Beginner and Intermediate categories. Conducted in groups of four, the hour-long sessions are designed to build skills and instil confidence among newer players. The tournament will culminate in a grand finale on July 27. 2025 at the newly unveiled JOY2 complex – Joy Division Padel's latest venue in Jalan Penchala, Petaling Jaya. Featuring two tournament-grade courts, the finals will be open to the public, with exclusive hospitality services provided for all registered participants. The 2025 Volvo Padel Open also benefits from the support of key sponsors. Tactical Padel is the official equipment provider, contributing tournament balls, branded merchandise, and winner prizes. Glacéau vitaminwater, distributed by Coca-Cola Malaysia, will serve as the event's official energy drink, while creative production is managed by Directors' ThinkTank. Those interested in competing in this premier sporting event are encouraged to secure their slots early, as participation is capped. Registration is available online via
The Sun
04-06-2025
- Business
- The Sun
Registrations now open for Malaysia's largest padel tournament
THE Volvo Padel Open is set to return in 2025 with its most ambitious edition yet, promising a larger prize pool, expanded competition categories, and enhanced participant experience. The tournament, recognised as the largest of its kind in Malaysia, will run from June 21 to July 27 2025, with registration now officially open. Organised in collaboration with three prominent padel venues in the Klang Valley – Joy Division Padel, Padelground, and PadelKu – this year's tournament will accommodate up to 320 players. Competitors will vie for a share of prizes exceeding RM180,000 in value, including cash, merchandise, complimentary court hours, and an exclusive week-long experience in a fully-electric Volvo vehicle. The registration window closes on July 3, 2025, with a one-off entry fee of RM160 per person or RM320 per team. In a show of appreciation to its customers, Volvo is offering a 50% discount on individual registration fees for Volvo vehicle owners. Acknowledging the rising calibre of local players, the 2025 edition introduces three refined competition categories – Beginner, Intermediate, and Advanced – aimed at accommodating both seasoned competitors and those new to the sport. The Beginner category will now feature an 'americano' format during the qualifying rounds, enabling individual players to partner with multiple teammates in a rotation system. Points are earned through each match, and the top 16 male and female scorers will move on to the semifinals, which are divided into men's and women's divisions. Intermediate and Advanced players will participate in men's or mixed team formats from the outset. Qualifying rounds will adopt a round-robin structure with sets capped at five games. Those advancing will face off in elimination matches played to seven games, with finalists competing in a full match format. To ensure equitable competition, players in the Beginner and Intermediate tiers must undergo skill assessments conducted by professional coaches prior to the tournament. These evaluations will determine appropriate category placement based on actual playing ability. In preparation for the main event, coaching clinics will be made available at no cost for participants in the Beginner and Intermediate categories. Conducted in groups of four, the hour-long sessions are designed to build skills and instil confidence among newer players. The tournament will culminate in a grand finale on July 27. 2025 at the newly unveiled JOY2 complex – Joy Division Padel's latest venue in Jalan Penchala, Petaling Jaya. Featuring two tournament-grade courts, the finals will be open to the public, with exclusive hospitality services provided for all registered participants. The 2025 Volvo Padel Open also benefits from the support of key sponsors. Tactical Padel is the official equipment provider, contributing tournament balls, branded merchandise, and winner prizes. Glacéau vitaminwater, distributed by Coca-Cola Malaysia, will serve as the event's official energy drink, while creative production is managed by Directors' ThinkTank. Those interested in competing in this premier sporting event are encouraged to secure their slots early, as participation is capped. Registration is available online via
The Sun
13-05-2025
- Business
- The Sun
Selangor formulates water master plan to handle water issues holistically
KUALA SELANGOR: The Selangor government is currently drafting a water master plan to address issues related to long-term water supply, pollution and solving flood problems in certain areas of the state in a holistic manner. Menteri Besar Datuk Seri Amirudin Shari said the master plan, which will be used as a guideline in managing water resources, includes aspects of storage, location of reservoirs and long-term flood control systems, is expected to be completed within a year. 'If there is less water, we face supply problems, but if there is more, there will be floods and this master plan will take both aspects into account comprehensively. 'So far, more than 100 ponds have been identified throughout the state and most of them are in the process of being gazetted as strategic storage areas,' he said when met by reporters after the handover ceremony of the Raw Water Guarantee Scheme (SJAM) Package A and C project, here today. Meanwhile, Amirudin said the implementation of SJAM is part of the state government's proactive steps to ensure sufficient raw water supply for at least the next 50 years. He said SJAM is expected to be one of the biggest initiatives in the history of Selangor's water management towards ensuring a more stable water supply, and this step forward is needed in facing the effects of climate change and rapid development. Amirudin said the handover of the two packages complemented the other two packages that had been operating previously, thus ensuring a continuous water supply to four million residents in Selangor, Kuala Lumpur and Putrajaya. He said that in total, RM320 million was spent on the construction of SJAM with the aim of ensuring water supply to 1.2 million water user accounts in Selangor is guaranteed even during times of pollution. 'I wouldn't dare say 100 per cent but more than 90 per cent will be ensured of receiving continuous water supply despite the possibility of several other unavoidable challenges,' he said.
