Latest news with #RM44.5
New Straits Times
6 days ago
- Business
- New Straits Times
Ta Win to sell Selangor land to metal recovery industries for RM44.5mil
KUALA LUMPUR: Ta Win Holdings Bhd's wholly owned subsidiary Ta Win Industries (M) Sdn Bhd has entered into a sale and purchase agreement with Metal Recovery Industries Sdn Bhd to dispose of 1.6187 hectares industrial land located in Selangor for RM44.5 million. The company said in a filing with Bursa Malaysia that the rationale behind the disposal is to focus on core operations as the property is currently vacant and non-operational, making it non-essential to its core business. "It is to monetise this idle asset to unlock cash, which can reduce borrowings and lower interest costs. The cash infusion also improves working capital, positioning Ta Win Group to seize future opportunities and manage market volatility. "The move is resource efficiency – eliminating the ongoing costs of maintaining the unused property supports optimal resource allocation, allowing Ta Win Group to be more responsive to rapidly evolving market demands," it said. The copper wire and rod manufacturer noted that the proposed disposal will result in a net loss of approximately RM3.6 million after deducting estimated incidental costs. It added that in accordance with applicable accounting standards, the revaluation surplus associated with the property will be reclassified from the revaluation reserve to retained earnings within shareholders' equity.
New Straits Times
29-05-2025
- Business
- New Straits Times
BHIC narrows losses to RM5.2mil, revenue surges in Q1 2025
KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC) narrowed its net loss to RM5.2 million in the first quarter to March 31 2025 from RM6.7 million a year ago. BHIC's revenue surged to RM44.5 million from RM19.1 million in the same corresponsing quarter in 2024, underpinned by key defence contracts. "The growth was largely driven by continued progress on the Royal Malaysian Navy's Submarine In-Service Support (ISS) 2 programme," BHIC said today. Its In-Service Support for theRoyal Malaysian Air Force's EC725 helicopters, alongside contracts for the supply, maintenance and training related to the navy's Bofors 40MM L70 gun, are expected to contribute to its financial performance. BHIC said the developments reflect its ongoing efforts to strengthen its position in the defence sector while broadening its revenue base. At the recent Langkawi International Maritime and Aerospace Exhibition 2025, BHIC marked a major milestone by signing strategic Memorandum of Understanding with Airbus Helicopters and framework agreements with PT Dirgantara Indonesia and IPTN North America Inc. "These collaborations aim to boost Malaysia's aerospace and defence capabilities and promote greater regional cooperation. "Our improved performance in Q1 FY2025,with a significant increase in revenue and narrowing of losses, demonstrates that we are moving in the right direction," said BHIC chief executive officer Feroz Razi Ramli. "The momentum, underpinned by ongoing defence contracts and strategic collaborations, reinforces our focus on delivering sustainable growth and long-term value under our #BOLD27 strategy," he added. BHIC remains optimistic yet cautious for 2025. To drive future business growth, the group has introduced #BOLD27 - a three-year strategy (2025-2027) focused on strengthening its core defence business while expanding into selected commercial sectors. The strategy prioritises sustainability, profitability and cash flow, aiming to reinforce BHIC's financial resilience and long-term value creation. "These initiatives form part of #BOLD27, BHIC's strategic drive to elevate regional defence collaboration, aerospace integration and industrial self-sufficiency through meaningful partnerships," it said.
Business Times
27-05-2025
- Automotive
- Business Times
Maybank downgrades Malaysia's Tan Chong Motor to ‘sell' amid widening losses, competition
[SINGAPORE] Maybank Investment Bank has downgraded Malaysia's Tan Chong Motor (TCM) to 'sell', from 'hold' previously, amid widening losses, weak product appeal and intensifying competition. Despite the downgrade, Maybank maintained its target price for the Bursa-listed company at RM0.38, based on an unchanged 0.1 times its forecast book value for FY2025. TCM is the franchise holder for Nissan in Malaysia and Indo-China, as well as Renault in Malaysia and MG in Vietnam. In a report on Monday (May 26), Maybank analyst Loh Yan Jin cited increased downside risks following a recent rally in TCM's share price as the reasons for downgrading its call on the automotive company. The stock has climbed nearly 60 per cent from its 52-week low of RM0.29 to RM0.46 in recent months. 'We believe downside risks have increased following the recent rally in share price,' Loh said. TCM reported a core net loss of RM44.5 million (S$13.5 million) for the first quarter of 2025, more than double the RM18.3 million loss recorded in the same period a year earlier. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Commenting on TCM's widening year-on-year losses, Loh said the latest results were in line with Maybank's full-year forecast of a RM147.3 million loss, but came in below the consensus estimate of a RM129.4 million loss. Revenue for Q1 2025 slipped 2 per cent to RM553 million, weighed down by continued weakness in Nissan sales, which plunged 21 per cent year on year to 1,811 units. However, Loh said the weakness in Malaysia was partially offset by growth in TCM's overseas operations, including Vietnam, Cambodia, Laos and Myanmar. On a quarter-on-quarter basis, TCM's Q1 2025 revenue rose 8.2 per cent from RM511.2 million in Q4 2024, supported by a 22 per cent increase in Nissan sales in Malaysia and higher vehicle assembly and manufacturing activity. Loh attributed this to a rebound from 'seasonally softer' year-end sales, which had been affected by intense promotions and competing model launches. As a result, core net loss for Q1 2025 narrowed by 29 per cent to RM44.5 million from RM62.9 million in Q4 2024. 'Looking ahead, we expect challenges in TCM's automotive segment to persist, underpinned by weak product appeal and intensifying market competition,' Loh said. 'Soft consumer sentiment and unattractive model launches will further weigh down its earnings.' A key re-rating catalyst, she added, would be stronger sales from new product launches or contract assembly deals, but 'visibility remains limited for now'. 'Improved operational efficiencies and better inventory management could also help enhance margins and profitability,' she said. As at 4 pm on Tuesday, shares of TCM are trading RM0.455.
Barnama
23-05-2025
- Business
- Barnama
Penang Future Foundation Awards RM44.5 Million In Scholarships over The Last Decade
GEORGE TOWN, May 23 (Bernama) -- The Penang Future Foundation (PFF), a flagship initiative by the Penang Government, has awarded approximately 805 scholarships worth a total of RM44.5 million since its establishment in 2015. Penang Chief Minister Chow Kon Yeow said the foundation, established to nurture local talent and support Malaysia's next generation of leaders, is funded through a blend of public and private sector contributions. He noted that last year alone, 54 students from diverse backgrounds were awarded scholarships in high-demand fields such as science, technology, engineering and mathematics (STEM), accountancy, and finance. 'As chairman of the PFF, I am immensely proud that this talent scholarship initiative by the state government has marked its 10th year in existence and continuously strives to make a difference. 'In spearheading the state's growth for the next 50 years and to remain as a focal location for investments, attracting and retaining talents have become even more critical in ensuring a steady pipeline of talents to meet the growing demands by industry players,' he said in a statement today. Therefore, Chow said PFF welcomes prospective applicants from all over Malaysia to apply for either the PFF Penang Scholar or the PFF Mutiara Scholar scholarship awards. He noted that interested candidates are advised to check the eligibility requirements, as both categories have different criteria based on, among other factors, the candidate's financial background and scholastic record. 'The PFF Penang Scholar caters for those with a CGPA of 3.67 and above, while the PFF Mutiara Scholar is available for applicants whose CGPA is between 3.00 to 3.66,' he said. The application window for the PFF Scholarship 2025 will be open from July 21 to Aug 15, and interested students are encouraged to keep a lookout for periodic announcements through PFF's website at
