Latest news with #RM340
BusinessToday
27-05-2025
- Automotive
- BusinessToday
Sime Darby's 9M Profit Plunges 60% To RM1.29 Billion
Sime Darby Berhad reported a net profit from continuing operations of RM1.29 billion for the Group's nine-month period ended 31 March 2025 (9M FY2025), reflecting a growth of 9.9 per cent from the previous corresponding period. However, on a year-on-year comparison, the group saw a decline of 60% from RM3.21 billion. Revenue, on the other hand, was higher at RM52 billion compared to RM48 billion in 3QFY24. For the third quarter under review, Sime saw its net profit plunge from RM340 million to RM193 million, down 43% from the preceding year's quarter. Revenue was recorded at RM16 billion, which was lower by RM2 billion versus the year before. The performance was mainly attributable to the higher contribution from the UMW division and a higher one-off gain on the disposal of Malaysia Vision Valley (MVV) land, despite lower profits from the Industrial and Motors divisions. The Group's revenue for the nine months increased by 8.2 per cent to RM52.3 billion, compared with RM48.3 billion in the previous financial year. During the quarter under review, the Industrial division recorded a lower PBIT of RM221 million, mainly due to reduced profits from the division's operations in Australasia. In Australasia, profits were impacted by a currency-related parts price adjustment, unfavourable weather conditions, and a weaker Australian dollar against the Malaysian Ringgit. The Motors division reported a reduced PBIT of RM114 million in Q3 FY2025. This is attributed to the lower vehicle sales in most markets, as well as increased competition For the UMW division, PBIT for the quarter under review was largely contributed by the division's automotive business, particularly higher Perodua sales. However, the division saw a decline in PBIT to RM194 million as a result of competitive market conditions. Sime's Group Chief Executive Officer Dato' Jeffri Salim Davidson said, 'We continue to face external headwinds, particularly in the Motors division with ongoing economic uncertainty and the rise of Chinese automotive brands increasingly dominating the market. The consumer segment remains challenging amid the continuing price war and industry overproduction in China. For the UMW division, Toyota and Perodua continue to perform well in Malaysia. Despite the impact of the currency-related parts price adjustment, the long-term prospects for our Industrial division remains positive on the back of robust mining demand. Related
The Star
26-05-2025
- The Star
Retiree loses over RM300,000 to fake investment scheme
KULAI: A retiree lost RM340,000 in a fake scheme promising 30% returns. Kulai OCPD Asst Comm Tan Seng Lee said the 59-year-old, who previously worked in a private company, was tempted by the high returns. The retiree believed he could gain 20% to 30% on his investment within three days. He was instructed to download an app called XC Global to allegedly track his funds, said ACP Tan on Monday (May 26). The retiree deposited RM340k into 13 local bank accounts through 19 transactions, thinking he was investing his savings. The transactions occurred from March 5 to May 21, he added and said that the app indicated earnings of RM936,971.34, but when he attempted to withdraw funds, he was asked for another RM92k. When his account was frozen, he realised he had been scammed, said ACP Tan, adding that the report was filed on Sunday (May 25). ACP Tan reminded the public not to trust schemes promising quick, high returns. He said people can stay informed about scams via the police force's Facebook page. The case is under investigation for cheating under Section 420 of the Penal Code, which includes up to 10 years' imprisonment, caning, and a fine.
Daily Express
17-05-2025
- Politics
- Daily Express
Kota Belud Rice Bowl project a symbol of failure, says Umno Youth Chief
Published on: Saturday, May 17, 2025 Published on: Sat, May 17, 2025 Text Size: Sabah Umno Youth Chief Sufian Abdul Karim has slammed the state government over the failed Kota Belud Rice Bowl Project, calling it a clear symbol of poor planning and weak food security policy. Launched with a RM340 million federal allocation and aimed at boosting Sabah's rice self-sufficiency level (SSL) to 60pc, he said the project has fallen far short, with the state's SSL at just 22.8pc in 2024. Advertisement "Rice output has declined from over 72,000 metric tonnes in 2016 to 67,705 metric tonnes in 2022," he said. Sufian criticised the state for focusing on 'paper projects' rather than real agricultural outcomes, citing unfinished infrastructure, persistent irrigation issues, and shrinking paddy land. 'The government keeps promoting grand slogans, but farmers are still struggling. This is a crisis rooted in mismanagement and lack of political will," he added. He urged the state to take full responsibility for the failure and focus on real action to improve food security, protect farmers, and boost rice production. * 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
The Star
30-04-2025
- Business
- The Star
Builder ordered to refund couple for unfinished work
Johor Consumer Claims Tribunal attending to clients at Menara Ansar in Johor Baru. A financial officer has to put on hold her dream of a new bungalow home as work to level the land for the foundation is still not completed. Noorfarahidah Abd Rahim has plans to build a five-room single-storey bungalow on her 0.16ha land in Kampung Air Puteri, Mersing, Johor. 'We should have moved into the new house but the project did not take place due to the contractor's failure to fulfil his side of the contract,' she said when met outside the Johor Consumer Claims Tribunal at Menara Ansar, Johor Baru. The 42-year-old claimant had engaged the Kuala Lumpur-based builder to build the bungalow with an estimated cost of RM340,000. Noorfarahidah messaged the contractor on Dec 2, 2023, saying that she was interested to hire the company, but it only responded on April 27 last year. 'The company builds houses using the industrialised building system (IBS) which was not available in Johor at that point of time,' she said. The claimant chose the IBS as it was cheaper compared to the conventional methods and lesser time needed to build the house. The company visited the site in Kampung Air Puteri on May 2 last year and the claimant made the first payment of RM10,000 on the same day, followed by RM10,000 on May 7, and RM10,000 on May 14. 'Prior to the start of construction work, the company hired a contractor to fill and level the land as a house foundation,' said Noorfarahidah. She said the ground work started on Aug 8 and finished by Aug 12. However, the respondent failed to pay RM2,800 to the contractor for the job done. 'In the end, we had to pay the RM2,800 to the contractor on Oct 3 last year as the respondent did not entertain calls and messages from the contractor,' said Noorfarahidah. The claimant further said the respondent was supposed to submit the building plan drawn by a registered architect firm to the Mersing District Council (MDM) for approval. 'However, the respondent did not do so. The only building plan we have was the draft of the house plan sketched by my husband,' she said. When Noorfarahidah and her husband bumped into the respondent at a restaurant in Senawang, Negri Sembilan, he gave excuses that he was busy with other projects. 'We wanted to meet with him again but he did not entertain our messages and the only way to meet him was to call using a different number,' she said. The couple then disguised themselves as different persons on the pretext of engaging him to build a house, and they made an appointment to meet in Bangi, Selangor. When the respondent showed up and saw the couple on Oct 8, he was shocked. That was the last time they saw him. 'The respondent claimed that the architect and lawyer for the project had changed, hence building plans submission for approval from the MDM was delayed,' said the claimant. Tribunal president Hafez Zalkapli ordered the respondent to refund RM23,700 to the claimant within two weeks. Those who need assistance in regard to Tribunal matters can call 07-227 1755 or 07-227 1766.
