Latest news with #RM467
New Straits Times
2 days ago
- New Straits Times
Retiree loses over RM460,000 in investment and legal service scams
JOHOR BARU: A retired teacher was not only deceived by a non-existent investment scheme, but the elderly woman also fell victim to a legal service scam, resulting in losses amounting to RM467,237. Johor Baru Selatan district police chief Assistant Commissioner Raub Selamat said police received a report from the 60-year-old woman today. He said the victim stated that the incident began on June 17 after she saw an investment advertisement on Facebook while at her home in Ulu Tiram. "The investment promised extraordinary returns of up to 94 per cent within a day. "Enticed by the lucrative offer, the victim contacted the phone number displayed and was then added to a WhatsApp group that supposedly provided guidance on stock trading. "Over nine days between June 17 and 26, the victim made 20 transactions totalling RM286,337 into several bank accounts belonging to different local individuals. "However, every time the victim attempted to withdraw her profits, the suspect gave various excuses and requested additional payments, until the victim realised she had been deceived," he said in a statement here yesterday. Raub said the victim later sought legal services to help recover the funds, after coming across another advertisement on Facebook. He said the victim then contacted an individual who claimed to represent a law firm and was added to another WhatsApp group. "The victim was taught how to recover her money but was asked to make payments for legal matters. "Between July 4 and Aug 2, the victim made seven transactions amounting to RM180,900 into seven different accounts as payment for the legal process. "The victim continued to be asked for more payments until she realised she was being scammed. "Police checks found that the 23 accounts involved had a total of 24 prior fraud records," he said. The case is being investigated under Section 420 of the Penal Code for cheating.
The Star
3 days ago
- Business
- The Star
Retired teacher lost RM467,237 to investment scam, bogus fund recovery firm
JOHOR BARU: A retired teacher was duped into losing RM467,237 after joining a non-existence investment scheme and legal services. Johor Baru South OCPD Asst Comm Raub Selamat said the 60-year-old woman came across an advertisement of 'Advance Fin Advisory' investment company. He said the victim was at her home in Taman Puteri Wangsa, Ulu Tiram, when she saw the advertisement on Facebook on June 17, 2025. 'The victim was attracted to the 94% profit promised within a day as advertised,'' ACP Raub said in a statement. The victim, he said, contacted the suspect and was added to a WhatsApp group and taught how to start trading the shares. ACP Raub said the victim made 20 transactions to different bank accounts from June 17 until Jun 26, 2025, amounting to RM 286,377. 'The victim was directed to make additional payments when she wanted to withdraw the profits,'' he said. Unable to withdraw the profits the victim sought assistance from a legal firm from an advertisement on Facebook. She then contacted an individual who claimed to be the representative of the 'Benjamin Lee & Co' legal firm. 'The victim was taught on how to recover the profits but had to pay RM180,900 as legal fees,'' he said, adding the victim made seven transactions into seven different banks from July 4 to Aug 2, 2025. He said the victim only realised she was cheated when asked to bank in more money. The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property. ACP Raub reminded the public to be alert and careful especially in matters involving financial transactions or job offers when dealing with unknown persons. The public can go to Semak Mule, CCID Scam Response Centre at 03-26101559 or 03-26101599. Scam victims are advised to call the National Scam Response Centre at 997 to report their case.
New Straits Times
10-07-2025
- Business
- New Straits Times
MARKET PULSE PM JULY 10, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia closed higher today, snapping a three-day losing streak. The rebound was led by banking stocks, which lifted the Bursa Malaysia Financial Services Index into positive territory. Consumer stocks among FBM KLCI constituents also extended their gains, supported by the central bank's rate cut, which is expected to lower borrowing costs and boost spending. Meanwhile, the ringgit strengthened against the greenback today to 4.2500. In the crypto market, Bitcoin jumped to RM467,553 amid Wall Street rally. Ethereum rose to RM11,726, while Solana rose to RM666. That wraps up today's Market Pulse.
New Straits Times
22-05-2025
- Business
- New Straits Times
MARKET PULSE AM MAY 22, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia's 30-stock index opened lower today, mirroring Wall Street's slump amid growing concerns that the new US budget will further strain an already massive deficit. With no fresh catalysts in sight, the benchmark FBM KLCI is expected to remain in consolidation mode, likely oscillating between the 1,540 to 1,550 range today. In the cryptocurrency market, Bitcoin rose to RM467,087 as risk sentiment continues to improve after last month's tariff-induced sell-off. Ethereum showed a positive trend, rising to RM10,988, while Solana traded at RM741. That's it for Market Pulse.
The Sun
21-05-2025
- Business
- The Sun
Pos Malaysia posts RM41.2 mil 1Q net loss amid lower postal, logistics revenue
KUALA LUMPUR: Pos Malaysia Bhd recorded a net loss of RM41.5 million for the first quarter ended March 31, 2025 (1Q 2025), widening from a net loss of RM19.6 million in the same quarter last year, weighed down by lower contributions from its postal and logistics segments. Revenue decreased to RM467 million from RM491 million previously. 'The postal segment remained the largest contributor, generating RM279.1 million in revenue. 'However, this marked a four per cent decline due to lower bulk mail and international mail volumes,' said Pos Malaysia in a Bursa Malaysia filing today. Pos Malaysia said the logistics segment also saw a significant drop in revenue to RM49.1 million from RM64.8 million, mainly due to a decrease in automotive and freight management activities and a change in pricing mechanisms and the extended docking period of a vessel. In contrast, the group said the aviation segment contributed higher revenue of RM93 million in 1Q 2025 compared to RM91.7 million in the previous corresponding quarter, mainly attributable to the in-flight catering business with a higher number of meals uplifted. It added that the others segment continues to grow healthily with higher revenue, mainly attributed to increased sales of digital certificates. POS Malaysia added that while recognising potential challenges, including the uncertain impact of US tariffs on the postal segment, the group remains confident in its transformation efforts and ability to deliver sustainable, long-term value to stakeholders.
