Latest news with #RM40
New Straits Times
14 hours ago
- New Straits Times
Ministry busts factory siphoning subsidised gas for industrial use in Melaka
MELAKA: A factory in Malim Jaya, which had only recently begun operations, was raided by the Domestic Trade and Cost of Living Ministry for allegedly siphoning subsidised liquefied petroleum gas (LPG) for industrial use. Acting on three weeks of intelligence, enforcement officers swooped in around 7pm yesterday under Op Gasak 2025, seizing equipment and gas cylinders worth an estimated RM40,000. Melaka Domestic Trade director Dr Mohd Hazimin Jamaludin said three Myanmar nationals, aged between 23 and 24, were caught red-handed during the raid. "They were seen transferring subsidised 14kg LPG into 50kg industrial cylinders using modified hoses without authorisation," he said at a press conference today. He added that the gas siphoning operation lacked basic safety measures and was carried out covertly at night. "The factory appeared abandoned and had no signs of being a registered business. "Everything was sealed off from the outside. Had anything gone wrong, it could have triggered a massive explosion due to the number of gas cylinders inside. "They used a dangerous homemade method — heating the 14kg cylinders with kettles filled with hot water and cooling the 50kg ones to speed up the siphoning," he said. Officers seized 104 units of 14kg LPG cylinders, 41 units of 50kg cylinders (including one unbranded tank), and 20 rubber hoses. Zinc sheets used to conceal the activities were also found. The case is being investigated under the Supply Control Act 1961, which carries a fine of up to RM1 million, three years' jail, or both for individuals, and up to RM2 million in fines for companies.
The Star
19 hours ago
- Business
- The Star
New electricity tariff structure offers transparent breakdown, says Fadillah
KUALA LUMPUR: The government's revised electricity tariff structure for Peninsular Malaysia now includes a detailed cost breakdown and new energy efficiency incentives for micro, small and medium enterprises (MSMEs), says Deputy Prime Minister Datuk Seri Fadillah Yusof. Fadillah, who is also the Energy Transition and Water Transformation Minister, said the new structure - announced by the Energy Commission (ST) on June 20 and implemented from July 1, 2025 - features a transparent itemisation of charges to help consumers better understand the cost components of electricity supply. 'For the first time, the electricity tariff structure clearly displays the energy charge, capacity charge, network charge and retail charge for each consumer category,' he told the Dewan Rakyat on Tuesday (July 29). He said this marked a departure from the previous format, which only listed the energy charge and minimum charge. The improved transparency is part of the government's broader effort to raise public awareness and encourage smarter energy use in line with the national energy transition agenda, he said. 'This is an early step towards educating Malaysians to become more energy-conscious consumers,' he added. Fadillah also said that the tariff classification for non-domestic users will no longer be based on economic activity but rather on connection voltage levels. 'This ensures that non-domestic consumers are charged tariffs that reflect the true cost of supplying electricity, while eliminating discrimination based on sector,' he said. The change, he explained, supports sustainability by offering a fair and equal platform for all non-domestic users, regardless of industry. As part of efforts to promote energy efficiency, the government has introduced direct incentives for consumers, including MSMEs with monthly electricity usage of 200kWh or less. 'These targeted incentives are aimed at encouraging efficient energy use among the domestic group and small businesses, which in turn helps balance electricity demand and boost renewable energy generation,' said Fadillah. In addition to these incentives, Fadillah also confirmed that the government has allocated RM40 million under the NUR@Petra programme (Nikmat Untuk Rakyat), aimed at helping households purchase energy-efficient appliances. 'The NUR@Petra programme currently offers rebates of up to RM400 for the purchase of 4- or 5-star energy-efficient air-conditioners and refrigerators,' he said, adding that the move is part of the broader push to reduce electricity consumption through smarter technology adoption. He further clarified that the RM40 monthly electricity rebate, which remains targeted at B40 households, is no longer strictly tied to the e-Kasih database. He said eligibility now also takes into account electricity consumption levels, particularly for households using 600kWh or less per month. 'This rebate system is now partly usage-based, ensuring that support reaches those who genuinely practise prudent energy use, not just those listed under a specific income category,' he said. He stressed that good energy management would not only lower utility costs but also support the broader shift towards cleaner energy sources. Additionally, he said the new tariff structure is designed to drive interest among non-domestic users in adopting renewable energy (RE) as a competitive alternative. 'With greater transparency in cost components, we hope more businesses will explore RE options as part of their corporate responsibility towards achieving net-zero carbon emissions by 2050,' he said. Fadillah assured that the Energy Transition and Water Transformation Ministry, in collaboration with ST and Tenaga Nasional Berhad (TNB), is rolling out infographics and public engagement materials to ensure that users fully understand the changes. Consumers may also contact TNB's careline for further clarification to avoid confusion or anxiety over the new tariff system, he added.
Barnama
20 hours ago
- Barnama
Illegal LPG Decanting Operation Foiled In Malim Jaya
MELAKA, July 29 (Bernama) -- The Ministry of Domestic Trade and Cost of Living (KPDN) Melaka branch busted a misappropriation operation involving subsidised liquefied petroleum gas (LPG) worth RM40,000 during a raid under Op Gasak 2025 in Malim Jaya here yesterday. Its director Dr Mohd Hazimin Jamaludin said three Myanmar nationals, aged 23 and 24, were arrested during the 7pm raid while transferring subsidised 14-kg LPG into 50-kg industrial cylinders using illegal connector hoses. 'This premises was used for decanting without any valid approval, a serious violation that exploits government subsidies meant for the public,' he told a press conference here today.
The Sun
a day ago
- Business
- The Sun
282 vacant PPR units in Rembau open for applications till Aug 10
SEREMBAN: A total of 282 units in the Rembau People's Housing Project (PPR) remain unoccupied, with applications open until August 10 for eligible buyers. Negeri Sembilan Local Government Development, Housing and Transport Committee chairman J. Arul Kumar confirmed the availability, stating that the Chembong Mukim project comprises 452 terraced houses, with 166 already allocated. 'Applicants and spouses must be Malaysian citizens aged 18 and above. Priority is given to husband and wife with a household income of less than RM5,000 per month and who have never owned a house in the name of the applicant or spouse,' Arul Kumar said in a statement. Interested parties can submit applications online through the official portal at The units are priced at RM40,000 each under a hire-purchase scheme, with monthly installments estimated at RM250. The initiative, a collaboration between the Ministry of Housing and Local Government and the Negeri Sembilan state government, aims to provide affordable housing for low-income earners. - Bernama
New Straits Times
2 days ago
- Business
- New Straits Times
Exactly 10 years later, where are Malaysia's G20 GLCs now?
Muhammed Ahmad Hamdan, Diyana Isamudin KUALA LUMPUR: Exactly ten years ago today, 17 government-linked companies (GLCs), collectively known as the G20, "graduated" from a decade-long transformation programme. The programme, which began in 2004, was aimed at sharpening commercial performance, tightening governance and unlocking value across the country's key state-linked corporations. Originally consisting of 20 companies, the list had shrunk to 17 by the time the curtains fell on the initiative on July 28, 2015. A string of mergers, demergers, privatisations and strategic divestments over the years had redrawn the lineup. That milestone was celebrated at a graduation ceremony which also kicked off the three-day GLC Open Day 2015 in August that year, a showcase of achievements touted by Putrajaya as proof that government-linked businesses could hold their own in the open market. A decade on, 11 of those original companies are still trading on Bursa Malaysia. Some have grown their market presence, others have undergone restructuring and a few have seen their financials move sideways. What binds them is that most remain under the stewardship of Malaysia's five major government-linked investment companies, the Employees Provident Fund (EPF), Khazanah Nasional Bhd, Permodalan Nasional Bhd (PNB), Lembaga Tabung Angkatan Tentera (LTAT) and Lembaga Tabung Haji (TH). Leading the pack by a wide margin is Malayan Banking Bhd (Maybank), majority-owned by PNB. Maybank, Malaysia's largest bank, added nearly RM40 billion to its market capitalisation over the past ten years, growing from RM85.46 billion in 2014 to RM123.56 billion as of end-2024. The bank, which continues to be the heavyweight in both asset size and shareholder value, saw revenue climb from RM35.7 billion to RM68.9 billion, while net profit hit RM10 billion in financial year 2024 (FY2024), up from RM6.7 billion a decade earlier. Close on its heels is the country's second-largest bank, CIMB Group Holdings Bhd, whose top shareholders include Khazanah and EPF. The bank more than doubled its net profit over the period, recording RM6.98 billion in FY2024, up from RM3 billion in FY2014. Revenue grew to RM21 billion from RM14 billion, while its market cap swelled to RM88 billion from RM46.3 billion. Telekom Malaysia Bhd (TM), the country's incumbent provider of fixed broadband and enterprise network services, also saw notable gains. The Khazanah-linked firm, with EPF among its key institutional investors, reported net profit of RM2 billion in FY2024, more than double the RM831.8 million booked in FY2014. Revenue edged up to RM11.7 billion, while market capitalisation held steady at RM25.5 billion, almost unchanged from its level a decade ago. National electricity provider Tenaga Nasional Bhd (TNB), in which Khazanah holds a majority stake, recorded RM56.7 billion in revenue in FY2024, up from RM42.8 billion in 2014. During the period, TNB's net profit came in at RM4.7 billion, slightly lower than its RM6.47 billion result ten years earlier, though its market value rose to RM86.8 billion from RM69.9 billion. For Axiata Group Bhd, also part of Khazanah's stable, the story is more complex. Revenue improved from RM18.7 billion to RM22 billion, but net profit declined to RM946 million in FY2024 from RM2.3 billion in 2014. Its market capitalisation shrank to RM22.9 billion from RM60.5 billion. Sime Darby Bhd, a flagship of PNB's portfolio, reported revenue of RM67 billion in 2024, up from RM44 billion a decade earlier. Net profit was largely flat at RM3.3 billion versus RM3.35 billion previously. However, following the group's 2017 demerger, which saw its plantation and property businesses spun off into separate listed entities, Sime Darby's market capitalisation now stands at RM16.1 billion, compared to RM58.6 billion before the split. Bank Islam Malaysia Bhd, formerly listed under BIMB Holdings Bhd and tied to TH, posted revenue of RM4.7 billion in 2024, compared with RM2.97 billion in FY2014. Net profit rose slightly to RM569 million from RM532 million. Market capitalisation, however, eased to RM5.6 billion from RM6 billion over the same period. Affin Holdings Bhd, which falls under LTAT's control, recorded RM2.17 billion in revenue and net profit of RM509.7 million in 2024. Both figures were down from FY2014 levels of RM3.08 billion and RM605 million, respectively. Despite the dip in performance, its market cap rose to RM6.99 billion, up from RM5.64 billion. MBSB Bhd, majority-owned by EPF, saw revenue climb from RM2.6 billion to RM3.7 billion. Net profit, however, fell to RM406.7 million in FY2024 from RM1 billion in 2014. Market capitalisation also edged down to RM6.08 billion from RM6.2 billion. Malaysian Resources Corp Bhd (MRCB), another EPF-linked company, reported flat revenue of RM1.6 billion in 2024, compared to RM1.5 billion in 2014. Net profit fell to RM63.67 million from RM152.6 million, although its market capitalisation rose modestly to RM2.35 billion from RM1.8 billion. TH Plantations Bhd, a subsidiary of TH, reported RM877.7 million in revenue and RM75 million in net profit for 2024, both improvements over its RM488.9 million revenue and RM48 million profit in 2014. However, its market cap more than halved, falling from RM1.5 billion to RM602 million. As these companies continue to navigate changing economic tides, their financial trajectories offer a glimpse into how Malaysia's GLC landscape has evolved since the 10-year transformation programme formally ended. Several others from the original G20 cohort have exited the market entirely. Proton Holdings Bhd was sold by Khazanah to DRB-Hicom and subsequently delisted, while Pos Malaysia Bhd was also divested to DRB-Hicom but remains listed. Boustead Holdings Bhd was taken private by LTAT. Malaysian Airline System Bhd, Malaysia Airports Holdings Bhd and UEM Group Bhd were all privatised. UMW Holdings Bhd was acquired by Sime Darby in 2023 and Chemical Company of Malaysia Bhd was absorbed into Batu Kawan Bhd.
