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Business Times
2 days ago
- Business
- Business Times
Riverstone Q2 earnings fall 37.4% to RM45.4 million
[SINGAPORE] Gloves maker Riverstone Holdings posted a 37.4 per cent year on year drop in net profit to RM45.4 million (S$13.8 million) for the quarter ended June from RM72.5 million as higher cost of sales eroded margin. In a regulatory filing published on Thursday (Aug 7), the Malaysia-based, Singapore-listed manufacturer of cleanroom and healthcare globes posted a marginal decrease of 0.8 per cent in revenue to RM244.8 million. Cost of sales surged 21.3 per cent in the second quarter of FY2025. Hence, earnings per share of 3.06 sen for the period was lower than 4.89 sen for the year-ago period. Riverstone Holdings half-year earnings slid 29.6 per cent to RM101.8 million from RM144.7 million, even though revenue inched up 0.1 per cent to RM497.1 million from RM496.4 million. Margin reduction was due to a depreciated greenback against the Malaysian currency (that resulted in foreign exchange translation losses), the product mix shift towards generic healthcare gloves (that have lower margin) as well as full depreciation costs from new capacity that remained idle due to domestic gas supply disruptions. 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 Riverstone Holdings is recommending an interim dividend of 2.5 sen per share for the quarter, down from 4 sen for the year-ago period. It was a cumulative dividend payout of 80 per cent for the half year. Net asset value per share was RM0.98 as at end-June, lower than RM1.06 as at end-December 2024. Chief executive Wong Teek Son said that in spite of intensifying competition, demand for generic healthcare gloves is stable, and this volume-driven segment is expected to help offset higher depreciation costs associated with the commissioning of new production facilities. Cleanroom glove contribution is expected to rise in the second half of the year, underpinned by rising demand from artificial intelligence industries and data centres, he added. Riverstone Holdings shares were up 2.1 per cent or S$0.015 at S$0.725 on Thursday, before the financial results were published.
BusinessToday
30-04-2025
- Business
- BusinessToday
Women-owned Businesses Contribute 3.6% To Overall Economic Sectors In Malaysia
Women-owned establishments, referring to businesses, real estate, or other assets, including businesses fully or partially owned, were at 20.1% of total registered establishments in 2022. The Department of Statistics, which released the details today, said a total of 219,015 active establishments were recorded in 2022 with the services sector recording the highest contribution at 93.6 per cent, driven primarily by the Wholesale and retail trade subsector. This was followed by the Manufacturing sector (3.9%), Construction sector (1.8%), Agriculture sector (0.8%), and the Mining & Quarrying sector (0.01%). The value of gross output generated by Women-Owned Establishments amounted to RM136.9 billion, contributing 3.6 per cent to the overall economic sectors in Malaysia. In 2022, gross output recorded a solid growth of 7.0 per cent compared to 2015. The Services sector generated the highest gross output value at RM83.0 billion or 60.7 per cent, with the main contribution from the Wholesale and retail trade subsector. Gross output was also contributed by the Manufacturing sector (30.1%) and the Agriculture sector (5.8%). Value of intermediate input in 2022 was recorded at RM75.5 billion compared to RM45.4 billion in 2015, with an annual growth rate of 7.5 per cent. DOSM noted that the annual growth was mainly driven by the Manufacturing sector, which recorded an increase of 13.7 per cent. In terms of contribution to intermediate inputs, the Services sector is the highest contribution with RM38.7 billion (share: 51.2%), followed by the Manufacturing sector RM30.7 billion (share: 40.7%), and the Construction sector RM3.1 billion (share: 4.2%). Value added by Women-Owned Establishments grew at 6.5 per cent annually, increasing by RM21.8 billion to RM61.4 billion in 2022 (2015: RM39.6 billion). The main contributor for value added was the Services sector, accounting for 72.2 per cent, while the Manufacturing and Agriculture sectors contributed 17.1 per cent and 8.1 per cent, respectively. The total number of persons engaged in 2022 was 979,812 persons, with an annual growth rate of 2.0 per cent (2015: 853,559 persons). The Services sector led with 788,884 persons (share: 80.5%). Total salaries & wages in 2022 amounted to RM20.5 billion, with an annual growth rate of 5.5 per cent, increasing from RM14.1 billion in 2015. The Services sector recorded the highest salaries and wages at RM15.5 billion (share: 75.5%), followed by the Manufacturing sector at RM3.6 billion (share: 17.5%). However, the highest average monthly salaries and wages were also recorded in the Mining & quarrying sector at RM2,675, followed by the Manufacturing sector RM2,628 and the Construction sector RM2,156. In terms of states, Selangor played a key role in the economic contribution of Women-owned establishments, recording the highest value added at RM18.2 billion (share: 29.6%) with a steady annual increase of 7.5 per cent. W.P. Kuala Lumpur showed a similar growth trend in value added, with an increase of 5.4 per cent, contributing RM10.7 billion. Johor ranked third with RM7.4 billion in value added, accounting for 12.1 per cent. Related
