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New Straits Times
6 days ago
- Business
- New Straits Times
Kawan Food posts lower Q1 profit on export slowdown, eyes domestic-led recovery
KUALA LUMPUR: Kawan Food Bhd's latest quarterly results reflect the impact of global market volatility and ongoing geopolitical tensions, according to its chairman emeritus and acting group managing director, Gan Thiam Chai. For the first quarter ended March 31, 2025 (Q1 FY25), the group posted a net profit of RM4.7 million — down 48.5 per cent from RM9.2 million in the same quarter last year — due to lower export volumes and unrealised foreign exchange losses. Revenue also fell 12.6 per cent year-on-year to RM70.5 million from RM80.6 million, dragged by softer sales in key export markets including North America and China. Despite the challenges, Gan said domestic sales remained resilient, with stable contributions from Europe and Oceania. "Our business fundamentals remain intact, and we are focused on adapting to market conditions and ensuring operational stability," he added. Looking ahead, Kawan Food expects growth to be supported by sustained domestic demand for its frozen convenience foods, while it continues expanding internationally through innovation, targeted marketing, and improved distribution. To strengthen operations, the group has allocated RM3.3 million in capital expenditure for property, plant, and equipment, aimed at boosting supply chain resilience and manufacturing capacity. Shares of Kawan Food have been on a downward trend for nearly two years, falling from RM2.30 in January 2023 to RM1.29 on Wednesday, giving it a market capitalisation of RM469.61 million.
New Straits Times
7 days ago
- Business
- New Straits Times
MN Holdings' earnings more than doubles in Q3
KUALA LUMPUR: MN Holdings Bhd's net profit more than doubled to RM16.5 million in the third quarter ended March 31, 2025 (3Q25), from RM4.7 million a year ago, on the back of higher revenue. Its quarterly revenue rose to RM127.42 million from RM51.11 million previously, mainly contributed from the substation engineering segment, which increased 248 per cent to RM97.09 million. The company registered higher earnings per share of 3.01 sen compared to 1.12 sen in 3Q24. For the nine-month period (9MFY2025), MN Holdings' net profit increased to RM36.16 million from RM12.78 million a year ago, while revenue rose to RM356.01 million from RM181.18 million previously. The growth was driven by accelerated project execution and higher billings, particularly from the substation engineering segment, which continued to anchor the group's top-line expansion by a 98 per cent increase to RM211.19 million. The company declared a second interim dividend of 0.10 sen per share, reflecting the confidence in its consistent performance and positive earnings trajectory. MN Holdings managing director Datuk Clement Toh said the record performance this quarter reflects its disciplined execution and deep capabilities across key infrastructure segments. He added that with continued demand for energy-related projects, from power distribution to data centres and renewable energy facilities, the company is well-positioned to deliver value and meet Malaysia's evolving infrastructure needs. "Backed by a healthy order book and growing exposure to high-demand segments such as data centres, solar interconnection, and battery energy storage systems, we are confident in sustaining our growth trajectory," he said in a statement. As at March 31, 2025, MN Holdings recorded a robust financial position, with net assets per share at RM0.32 and cash and short-term investments totalling RM73.94 million. Its outstanding order book stood at about RM1.1 billion, providing clear revenue visibility over the next 24 to 36 months.
BusinessToday
7 days ago
- Business
- BusinessToday
Kawan Food's 1Q Profit Declines By 50%, Hit By Poor Export Sales And FX Loss
Kawan Food Berhad announced its first quarter results for the financial period ended 31 March 2025 reporting a year-on-year decline in revenue, mainly due to softer demand in export markets and currency fluctuations. Nonetheless, domestic performance remained encouraging, and regional markets such as Europe and Oceania delivered steady contributions. The Group reported revenue of RM70.5 million in Q1FY25, a 12.6% decrease compared to RM80.6 million in the same quarter last year. The contraction was primarily attributed to reduced sales in the Group's major export markets, particularly North America and China, as well as an unfavourable foreign exchange environment caused by the depreciation of the US Dollar against the Malaysian Ringgit. Profit after ta stood at RM4.7 million, down from RM9.2 million in Q1FY24, largely due to reduced export sales volume and unrealised foreign exchange losses. However, underlying demand remains stable, particularly in the domestic market. Malaysia continues to be the Group's largest revenue contributor, accounting for RM44.1 million or 62.6% of total revenue. This was followed by North America at RM8.6 million (12.2%), Europe at RM8.4 million (11.8%), and the remainder contributed by other regions including the Rest of Asia, Oceania, and Africa. Malaysia recorded a 9.7% year-on-year increase in revenue, supporting steady domestic demand for convenient and quality frozen food options. Europe and Oceania also registered growth of 10.9% and 13.7% respectively, contributing to the Group's overall performance across its key regional markets. The Group expects short-term margin pressure to persist due to ongoing geopolitical tensions and rising costs but remains optimistic about the medium to long-term outlook. Strategic initiatives are underway to deepen market penetration, enhance product innovation, and strengthen supply chain resilience to better serve both domestic and export markets. Related
New Straits Times
26-05-2025
- Business
- New Straits Times
Felda launches RM1.30-a-share takeover offer for FGV, eyes full control
KUALA LUMPUR: The Federal Land Development Authority (Felda) has launched an unconditional voluntary takeover offer to acquire all remaining shares in FGV Holdings Bhd that it does not already own, as it seeks to regain full control of the plantation company. The offer, made through Maybank Investment Bank Bhd, is priced at RM1.30 per share in cash, the bank said on behalf of Felda in a statement issued to FGV's board. As at May 20, the latest practicable date prior to the notice, Felda directly owns 2.54 billion FGV shares, representing 69.50 per cent of the company's issued share capital. Felda is also acting in concert with Felda Asset Holdings Company Sdn Bhd, its wholly-owned subsidiary, among other parties. Together, Felda and its persons acting in concert collectively hold 86.93 per cent of the voting shares in FGV. The move marks Felda's second major attempt to take FGV private after a similar offer in 2020, also at RM1.30 per share, did not result in full control. FGV's issued share capital currently amounts to RM7.03 billion, comprising 3.65 billion ordinary shares and one special share held by the Minister of Finance Incorporated. "The offer complies with the Capital Markets and Services Act 2007 and the Rules on Take-overs, Mergers and Compulsory Acquisitions issued by the Securities Commission Malaysia," Maybank Investment bank said. Earlier, FGV announced that trading in its shares would be suspended all day today, pending a major announcement. FGV's last traded share price was RM1.28, valuing the company at RM4.7 billion. The stock has traded between RM1.17 and RM2.09 since the first privatisation attempt was announced on Dec 8, 2020.
The Sun
14-05-2025
- Business
- The Sun
Sapura Energy returns to profitability, bolstered by restructuring momentum
PETALING JAYA: Sapura Energy Bhd (SEB) staged a turnaround for the financial year ended Jan 31, 2025 (FY25) with profit after tax and minority interest of RM190 million, compared to loss after tax and minority interest of RM509 million in the previous year. Revenue in FY25 stood at RM4.7 billion, an increase of RM385 million, or 8.9% or year-on-year, while the group's earnings before interest, tax, depreciation, and amortisation was RM524 million, the group said in announcing its audited financial results today. SEB's external auditors, Messrs Ernst & Young PLT, accompanied the FY25 audited financial statements with an unqualified audit opinion. In their report, the auditors said SEB's annual financial statements were prepared based on the assumption that the group and the company will continue operating. However, they highlighted a significant uncertainty about this assumption, as the group's and company's current liabilities exceed their current assets, and the group is experiencing serious cash flow problems. Despite the challenges, the financial statements of the group and the company have been prepared based on the assumption that they will continue operating as a going concern. This assumption largely depends on the timely approval, execution and completion of the proposed regularisation plan by the long stop date of March 11, 2026. The plan is essential for carrying out the schemes of arrangement, the conditional funding agreement, and settling business issues related to finished engineering and construction projects on time.
