Latest news with #RM4.45
The Sun
27-05-2025
- Business
- The Sun
Elridge Energy starts FY25 with healthy earnings growth in first quarter
PETALING JAYA: Elridge Energy Holdings Bhd recorded revenue of RM109.67 million and profit before tax of RM18.03 million for the first quarter ended March 31, 2025 (Q1'25). After taxation of RM4.45 million, the group posted a net profit of RM13.58 million. The revenue and the profit were mainly contributed by customers based in Japan, Indonesia and Malaysia. As the group was only listed on the ACE Market of Bursa Malaysia in August 2024, no interim financial reports were prepared for the corresponding quarter in the previous year, and as such, no comparative figures are available. Palm kernel shells (PKS) remain the cornerstone of the group's operations, contributing RM95.81 million or 87.36% of total revenue. The remaining RM13.87 million or 12.64% was derived from the trading and manufacturing of wood pellets. Executive director and CEO Oliver Yeo said, 'Our first-quarter performance reflects the strong and growing demand for sustainable biomass fuel products in international markets. We are pleased to maintain our momentum post-listing and deliver healthy earnings growth in line with our strategic direction.' According to Coherent Market Insights, the PKS industry in the Asia-Pacific is expected to grow at a compound annual growth rate (CAGR) of 8.9% from US$308.6 million in 2024 to US$366.1 million by 2026 (RM1.4 billion to RM1.7 billion). The wood pellet market in the region is forecast to expand at a CAGR of 8.6%, reaching US$12.5 billion in 2026 from US$10.6 billion in 2024. Yeo said, 'To support this growing market, we are executing our expansion plan with the development of new manufacturing sites in Pasir Gudang, Johor; Kuantan, Pahang; and Lahad Datu, Sabah. These facilities will each house two PKS production lines with a combined annual output of 240,000 metric tons per site. The capacity expansion will enhance our ability to secure long-term export contracts and reinforce our position in the regional biomass supply chain.' A total of RM68.14 million from the group's initial public offering proceeds has been allocated to these projects. The investments form part of Elridge Energy's long-term strategy to capitalise on rising global demand for biomass fuels and to contribute to decarbonisation efforts in energy and industrial sectors. 'With a focused expansion strategy, a solid financial footing, and rising demand from international markets, Elridge Energy remains well positioned to deliver sustained value to our shareholders and support the global shift towards renewable energy,' Yeo concluded.
New Straits Times
21-05-2025
- Business
- New Straits Times
Bursa Malaysia remains lower at midday
KUALA LUMPUR: Bursa Malaysia remained lower at the end of the morning trading session, despite the mostly higher regional market performance, as market undertone remains cautious. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.87 points, or 0.25 per cent, to 1,545.0 from Tuesday's close of 1,548.87. The benchmark index opened 4.07 points higher at 1,552.94 and fluctuated between 1,544.02 and 1,553.84 throughout the session. The broader market was negative with 583 decliners outpacing 267 gainers, while 423 counters were unchanged, 1,145 untraded, and seven suspended. Turnover stood at 2.04 billion shares worth RM1.01 billion. In a note, Rakuten Trade Sdn Bhd said the lack of catalysts, coupled with the evaporating daily volume, saw diminishing participation, especially from the retail segment. "As we do not expect the market to stage a trend reversal anytime soon, we believe the index to hover within the 1,545-1,555 range today," it said. Among the heavyweights, CelcomDigi and Petronas Gas both gained 2.0 sen to RM3.90 and RM17.74, respectively, Press Metal improved by 8.0 sen to RM5.04, MISC added 1.0 sen to RM7.67, IHH Healthcare was flat at RM6.95, Maybank shed 4.0 sen to RM10, Public Bank trimmed seven sen to RM4.45, while Tenaga Nasional and CIMB dipped 4.0 sen each to RM14.10 and RM7.0, respectively. For active stocks, Harvest Miracle and Alam Maritim both rose half-a-sen to 18.5 sen and 3.5 sen, respectively, Tanco gained 1.0 sen to 96.5 sen, MYEG was flat at 89.5 sen, Sarawak Cable declined 4.5 sen to 3.5 sen, and Inari Amertron slipped 12 sen to RM1.90. On the index board, the FBM Emas Index dipped 37.32 points to 11,529.59, the FBMT 100 Index fell 32.52 points to 11,284.45, and the FBM Emas Shariah Index shed 11.62 points to 11,451.26. The FBM ACE Index gave up 16.43 points to 4,637.11 while the FBM 70 Index declined 63.94 points to 16,349.43. Sector-wise, the Financial Services Index lost 104.45 points to 18,211.47, the Industrial Products and Services Index was 0.79 of-a-point easier at 155.67, the Energy Index slid 0.29 of-a-point to 714.48, and the Plantation Index garnered 43.47 points to 7,324.40.
New Straits Times
06-05-2025
- Business
- New Straits Times
FGV says no formal takeover notice received from Felda
KUALA LUMPUR: FGV Holdings Bhd has not received any formal notice from the Federal Land Development Authority (Felda) with regards to a takeover offer, as published in a news report recently. In a filing with Bursa Malaysia, the company said any matters pertaining to the group's privatisation will be dealt with by its shareholders. "We wish to clarify that, as of the date of this announcement, FGV has not received any formal notice from Felda pertaining to a takeover offer or any corporate proposal that would lead to the privatisation or delisting of FGV. "It is important to note that any privatisation initiative is FGV's shareholders' matter and not to be dealt at FGV's level until an official notification in respect of such an exercise be communicated to FGV," it said. FGV added it will make the necessary announcement in accordance with the listing requirements on Bursa Malaysia if there is any development on the matter. The clarification from FGV came in response to an article by an English weekly which stated that there were plans by Felda to privatise FGV. The report said that Felda has hired Maybank Investment Bank Bhd to advise on an exercise that could take place within the next three to four months. FGV's share price closed unchanged at RM1.22 on Tuesday, valuing the company at RM4.45 billion.
