Latest news with #RM4.3mil
The Star
3 days ago
- Business
- The Star
Kawan Food's revenue forecast to remain stable
PETALING JAYA: BIMB Research expects Kawan Food Bhd 's revenue to remain stable over the long-term with growth likely to be driven by strong demand for convenient, high-quality frozen food, particularly in key international markets. This will be supported by ongoing product innovation and improved distribution efforts, the research house said in a note to clients. Meanwhile, the group will continue to focus on strengthening its supply-chain resilience and broadening its product offerings. Despite short-term external headwinds, demand remains healthy, as reflected in the group's steady revenue from Malaysia and key export markets, the research house said. However, BIMB Research added that Kawan Food remains cautious given ongoing global volatility from geopolitical tensions and currency fluctuations. On the group's results for the first quarter of this year (1Q25) , the research house said Kawan Food's earnings came below its expectations, with core profit after tax and minority interest of RM4.3mil, which accounts for only 11% of the full-year forecast. Revenue declined by 12.6% year-on-year to RM70.5mil, primarily due to softer demand from export markets with Europe down 25.2% and North America down 52.8%. As a result BIMB Research cut Kawan Food's FY25 and FY26 earnings assumption by 13% and 8% to RM34.4il and RM41.3mil, respectively, to account lower revenue from the export market. It maintained a 'buy' call on the stock with a lower target price of RM1.70 from RM2 earlier.
The Star
02-05-2025
- The Star
Over RM4.3mil lost to online scams in Sandakan in first four months of the year
KOTA KINABALU: More than RM4.3mil was lost to 54 online scam cases in Sandakan district from January to April. A total of 170 online scam cases were reported in the district last year, involving losses amounting to RM23.06mil. Sandakan OCPD Asst Comm Ahsmon Bajah said the victims came from various walks of life, including professionals, business owners and retirees. "Most victims were aged between 31 and 50, and 61.11% were men," he said in a statement on Friday (May 2). He reminded the public to stay alert and avoid becoming mule account holders by handing over their bank details to third parties. 'If convicted, those involved can be investigated under Section 424 of the Penal Code, which carries a penalty of between RM10,000 and RM100,000 in fines, or a jail term of one to seven years, or both,' he said. Police have pledged to continue public education efforts to combat scam cases.
