Latest news with #RM4.21
New Straits Times
3 days ago
- Automotive
- New Straits Times
MSB Global posts RM1.51mil net profit, RM13.83mil revenue in Q1
KUALA LUMPUR: MSB Global Group Bhd's reported a net profit of RM1.51 million in the first quarter (Q1) ended March 31, 2025, marking a start in its first reporting period as a listed company. For the quarter under review, the company recorded RM13.83 million revenue and pre-tax profit of RM1.95 million. The company's earnings per share stood at 32 sen, based on the pre-listing share base of 477.00 million shares. In a statement, MSB Global said its revenue continued to be supported by its core business activities in the marketing, trading, and distribution of aftermarket automotive parts and components, which contributed RM9.57 million or 69.20 per cent of the total revenue. Meanwhile, it said the sale of automotive lubricants and fluids accounted for RM4.21 million or 30.45 per cent of total revenue. Export sales, primarily to Singapore, amounted to RM900,000, with the remaining contribution generated from domestic operations, it said. Managing director Datuk Ow Kee Foo said this quarter marks its first financial milestone as a listed entity, and the company is pleased to have maintained profitability while navigating a softer sales cycle. "Our consistent performance reaffirms the strength of our business model, built on trusted brand partnerships, operational discipline, and the growing demand for reliable aftermarket solutions," said Ow. MSB Global said as Malaysia's automotive aftermarket continues to expand, driven by a growing vehicle population and a rising demand for quality maintenance products, the company is confident in its ability to capture a larger share of the market. Backed by its exclusive distribution of the GSP brand and a growing portfolio of proprietary brands, the company remains committed to delivering long-term value for shareholders while scaling its presence across the nation and region, it added.
The Star
3 days ago
- Business
- The Star
Malaysia's international reserves assets at US$118.70bil as of end-April
KUALA LUMPUR: Malaysia's international reserve assets amounted to US$118.70 billion (US$1= RM4.21) as of end-April, 2025, while other foreign currency assets stood at US$1.75 billion, according to Bank Negara Malaysia (BNM). The central bank said the detailed breakdown of international reserves provides forward-looking information on the size, composition and usability of reserves and other foreign currency assets, in accordance with the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) format. It also provides the expected and potential future inflows and outflows of foreign exchange of the federal government and BNM over the next 12-month period. "Overall, the detailed breakdown of international reserves under the IMF SDDS format indicates that as of end-April 2025, Malaysia's international reserves remain usable. BNM said that for the next 12 months, the pre-determined short-term outflows of foreign currency loans, securities, and deposits, which include, among others, scheduled repayment of external borrowings by the government and the maturity of foreign currency Bank Negara Interbank Bills, amounted to US$14.07 billion. "The net short forward positions amounted to US$24.04 billion as of end-April 2025, reflecting the management of ringgit liquidity in the money market,' it added. In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans, said BNM, adding that the projected foreign currency inflows amount to US$2.70 billion in the next 12 months. The central bank said the only contingent short-term net drain on foreign currency assets is government guarantees of foreign currency debt due within one year, amounting to US$419 million. "There are no foreign currency loans with embedded options, and no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks, and other financial institutions. "Bank Negara Malaysia also does not engage in foreign currency options vis-à-vis the ringgit,' it said. - Bernama
BusinessToday
3 days ago
- Business
- BusinessToday
Ringgit Gains On US Dollar After Court Halts Tariff Block
The ringgit opened stronger against the US dollar this morning, buoyed by improved investor confidence in emerging market currencies following a temporary reprieve granted by a US court on Trump-era import tariffs. At 8 am, the local currency surged to 4.2180/2485 against the greenback, up from Thursday's close of 4.2390/2475. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid explained that the US Dollar Index (DXY) slipped below the 100-point mark to 99.278 after the US Court of Appeals for the Federal Circuit stayed a US Court of International Trade ruling that would have blocked most Trump-era tariffs on Wednesday (US time). He noted, 'Apart from that, the second estimate for the first quarter of 2025 US gross domestic product (GDP) contracted 0.2 per cent quarter-on-quarter seasonally adjusted annualised rate (SAAR), slightly better than the first estimate of -0.3 per cent but lower than the 2.4 per cent expansion in the previous quarter.' The economist added that recent US economic data indicated weakening conditions, citing Initial Jobless Claims rising to 240,000 last week compared to consensus estimates of 229,000, while Continuous Jobless Claims increased to 1.91 million for the week ending May 17 from 1.89 million the prior week. Traders and investors are now awaiting the Personal Consumption Expenditure (PCE) inflation data. 'Consensus is pencilling the headline PCE and Core PCE at a moderate pace of 2.2 per cent and 2.5 per cent in April against 2.3 per cent and 2.6 per cent in the prior month,' he said. 'As such, the ringgit is expected to trend higher today, possibly around RM4.21 and RM4.22, owing to a weaker US dollar outlook,' he told Bernama. At the opening, the ringgit appreciated against a basket of major currencies, strengthening to 5.6943/7355 versus the British pound from Thursday's 5.7091/7205, and gaining against the euro at 4.7992/8339 compared to 4.7803/7899 previously. However, it weakened slightly against the Japanese yen to 2.9349/9563 from yesterday's close of 2.9188/9249. The local note also traded mostly higher against its ASEAN counterparts. It improved versus the Singapore dollar to 3.2789/3031 from 3.2853/2921 on Thursday, inched up against the Indonesian rupiah to 258.6/260.6 from 259.9/260.5, and advanced against the Philippine peso to 7.56/7.62 from 7.60/7.62. The ringgit, however, slid against the Thai baht to 12.9565/13.0590 from 12.9321/9647 previously. Related
The Sun
3 days ago
- Business
- The Sun
BNM: Malaysia's international reserves assets at US$118.70b as of end-April
KUALA LUMPUR: Malaysia's international reserve assets amounted to US$118.70 billion (US$1= RM4.21) as of end-April, 2025, while other foreign currency assets stood at US$1.75 billion, according to Bank Negara Malaysia (BNM). The central bank said the detailed breakdown of international reserves provides forward-looking information on the size, composition and usability of reserves and other foreign currency assets, in accordance with the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) format. It also provides the expected and potential future inflows and outflows of foreign exchange of the federal government and BNM over the next 12-month period. 'Overall, the detailed breakdown of international reserves under the IMF SDDS format indicates that as of end-April 2025, Malaysia's international reserves remain usable. BNM said that for the next 12 months, the pre-determined short-term outflows of foreign currency loans, securities, and deposits, which include, among others, scheduled repayment of external borrowings by the government and the maturity of foreign currency Bank Negara Interbank Bills, amounted to US$14.07 billion. 'The net short forward positions amounted to US$24.04 billion as of end-April 2025, reflecting the management of ringgit liquidity in the money market,' it added. In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans, said BNM, adding that the projected foreign currency inflows amount to US$2.70 billion in the next 12 months. The central bank said the only contingent short-term net drain on foreign currency assets is government guarantees of foreign currency debt due within one year, amounting to US$419 million. 'There are no foreign currency loans with embedded options, and no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks, and other financial institutions. 'Bank Negara Malaysia also does not engage in foreign currency options vis-à-vis the ringgit,' it said.
The Sun
3 days ago
- Business
- The Sun
Malaysia's reserves at US$118.7b, remain strong
KUALA LUMPUR: Malaysia's international reserve assets amounted to US$118.70 billion (US$1= RM4.21) as of end-April, 2025, while other foreign currency assets stood at US$1.75 billion, according to Bank Negara Malaysia (BNM). The central bank said the detailed breakdown of international reserves provides forward-looking information on the size, composition and usability of reserves and other foreign currency assets, in accordance with the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) format. It also provides the expected and potential future inflows and outflows of foreign exchange of the federal government and BNM over the next 12-month period. 'Overall, the detailed breakdown of international reserves under the IMF SDDS format indicates that as of end-April 2025, Malaysia's international reserves remain usable. BNM said that for the next 12 months, the pre-determined short-term outflows of foreign currency loans, securities, and deposits, which include, among others, scheduled repayment of external borrowings by the government and the maturity of foreign currency Bank Negara Interbank Bills, amounted to US$14.07 billion. 'The net short forward positions amounted to US$24.04 billion as of end-April 2025, reflecting the management of ringgit liquidity in the money market,' it added. In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans, said BNM, adding that the projected foreign currency inflows amount to US$2.70 billion in the next 12 months. The central bank said the only contingent short-term net drain on foreign currency assets is government guarantees of foreign currency debt due within one year, amounting to US$419 million. 'There are no foreign currency loans with embedded options, and no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks, and other financial institutions. 'Bank Negara Malaysia also does not engage in foreign currency options vis-à-vis the ringgit,' it said.
