Latest news with #RM36
The Sun
29-05-2025
- The Sun
GOF seizes over RM800,000 worth of ‘Royal Cannabis' in Pasir Mas
PASIR MAS: A team from the General Operations Force (GOF) Ninth Battalion seized 22.5 kilogrammes (kg) of compressed 'Royal Cannabis' ganja, valued at over RM800,000, in an operation near Banggol Kulim here today. GOF Southeast Brigade Commander Datuk Nik Ros Azhan Nik Ab Hamid said the seizure was made when a patrol team spotted a Proton Wira Aeroback driven by a man behaving suspiciously at around 6 am. 'GOF personnel pursued the car, prompting the driver to speed up to evade arrest before abandoning the vehicle by the roadside with the engine still running,' he said when contacted by reporters today. He said a search of the vehicle uncovered three bundles, each containing 45 packets of compressed ganja. 'We believe the drug smugglers used packaging resembling 'kain pelikat' boxes to deceive the authorities. 'The suspect has not been located, and it is understood that each kilogramme of compressed ganja is estimated to be worth RM36,000,' he said. He added that all the drugs and the vehicle were handed over to the Narcotics Criminal Investigation Division of the Pasir Mas District Police Headquarters (IPD) for further action, with the case investigated under Section 39B of the Dangerous Drugs Act 1952.
New Straits Times
29-05-2025
- New Straits Times
Cannabis smuggled in sarong boxes seized
PASIR MAS: An attempt by a drug smuggler to evade authorities by concealing 22.5kg of cannabis in boxes typically used to pack sarongs was foiled by the General Operations Force (GOF) in an early morning operation today. Southeast Brigade Commander Datuk Nik Ros Azhan Nik Abd Hamid confirmed the case, saying the drugs, worth an estimated RM810,000, were discovered during a routine patrol by a team from the GOF's Ninth Battalion. However, no arrests were made in the 6.20am operation, which took place in Rantau Panjang. He said GOF personnel were conducting their regular rounds when they spotted a black Proton Wira Aeroback driven by a man acting suspiciously and heading towards Customs Gate 2. "When officers attempted to stop the vehicle, the driver sped off but later pulled over at the roadside near the Banggol Kulim traffic light in Rantau Panjang. "The driver then abandoned the car and fled the scene on foot," he said. Upon inspecting the vehicle, he said GOF personnel found 22.5kg of cannabis concealed in the rear passenger seat. "The drugs were packed in 45 small boxes commonly used for sarongs." He said the case is being investigated under Section 39B of the Dangerous Drugs Act 1952, which carries the mandatory death penalty upon conviction. It is learnt that the cannabis, smuggled from a neighbouring country, is priced at about RM36,000 on the Malaysian market.
New Straits Times
25-05-2025
- Business
- New Straits Times
Kossan shielded from US tariff impact by specialty glove focus
KUALA LUMPUR: Kossan Rubber Industries Bhd is expected to be less affected by the tariff as it focuses on specialty gloves which fetch better margins, said Kenanga Research. The research house said the current uncertainty over the US tariffs have also resulted in increasing interest from US buyers on Malaysian players as a viable alternative supply source. Overall, the firm said it does not see a fundamental view change on the gloves sector at these tariff levels. "With the slash in tariffs, this still implies tariffs on Chinese glove makers at 80 per cent in 2025 and a further 130 per cent in 2026. "Buyers have been diversifying sources as a risk management strategy, opting to purchase from other countries including Malaysia," it said in a note. Nevertheless, Kenanga Research said the news on tariffs reduction by the US on Chinese glove makers is negative news flow for local players. "We believe Kossan is expected to be less affected as it focuses on specialty gloves which fetch better margins. "Moreover, with its disciplined cost structure and continuous efforts to streamline operations, the group's profitability is expected to be less impacted by any potential orders slowdown," it said. Meanwhile, Kenanga Research said Kossan's first-quarter net profit for financial year 2025 met expectations, rising 13 per cent to RM36 million. This accounts for 22 per cent and 23 per cent of the firm's and consensus full-year net profit forecasts, respectively. No dividend was announced for quarter, which was in line with expectation, Kenanga Research said. The firm has maintained its earnings forecasts with a target price of RM2.70. "We believe that in terms of PBV valuation, its share price is trading at a level commensurate with pre-tariff imposition. Reiterate 'outperform'," it added.
The Sun
22-05-2025
- The Sun
Penang KPDN seizes RM36,240 worth of illegal diesel in raid
BUKIT MERTAJAM: The Penang branch of the Domestic Trade and Cost of Living Ministry (KPDN) seized a lorry and 2,000 litres of diesel worth a total of RM36,240 during an Ops Tiris 3.0 raid at a petrol station in Simpang Ampat near here yesterday. Its director, S. Jegan, said the department received a public complaint regarding the activity before conducting an operation at 9.30 pm and successfully detected a lorry involved in suspicious diesel refuelling activities. 'A team of enforcement officers conducted an inspection and found a lorry transferring diesel into an IBC tank. Further checks revealed two modified IBC tanks connected with hoses and pumps from the original tank, with an estimated capacity of 1,000 litres, located at the back of the lorry. 'Further checks found that the lorry driver, a local man, failed to produce any authorisation documents to deal with the controlled goods,' he said in a statement today. He added that the department seized all items, including a lorry, a set of hoses and pumps, and two IBC tanks containing 2,000 litres of diesel, all valued at RM36,240, as well as several business documents to assist in the investigation. Jegan said further investigation was underway to identify individuals or companies involved in the diesel distribution chain.
The Sun
22-05-2025
- The Sun
Penang KPDN seizes RM36,240 worth of illegal diesel
BUKIT MERTAJAM: The Penang branch of the Domestic Trade and Cost of Living Ministry (KPDN) seized a lorry and 2,000 litres of diesel worth a total of RM36,240 during an Ops Tiris 3.0 raid at a petrol station in Simpang Ampat near here yesterday. Its director, S. Jegan, said the department received a public complaint regarding the activity before conducting an operation at 9.30 pm and successfully detected a lorry involved in suspicious diesel refuelling activities. 'A team of enforcement officers conducted an inspection and found a lorry transferring diesel into an IBC tank. Further checks revealed two modified IBC tanks connected with hoses and pumps from the original tank, with an estimated capacity of 1,000 litres, located at the back of the lorry. 'Further checks found that the lorry driver, a local man, failed to produce any authorisation documents to deal with the controlled goods,' he said in a statement today. He added that the department seized all items, including a lorry, a set of hoses and pumps, and two IBC tanks containing 2,000 litres of diesel, all valued at RM36,240, as well as several business documents to assist in the investigation. Jegan said further investigation was underway to identify individuals or companies involved in the diesel distribution chain.
