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The Sun
29-05-2025
- Business
- The Sun
Resintech FY25 profit doubles to RM17m on strong pipe system demand
KUALA LUMPUR: Resintech Bhd, a leading manufacturer of plastic pipes, water tanks, and fittings, announced strong financial performance for its financial year ended March 31, 2025 (FY25). The group's revenue increased by 17.94% year-on-year (YoY) to RM125.07 million from RM106.04 million in the previous year, driven primarily by robust demand for its pipe systems and strategic revenue streams, including rental and provision of labour and maintenance services. Profit before tax (PBT) surged 107.98% YoY to RM17.02 million from RM8.18 million in FY24, underpinned by operational efficiencies, improved margins, and a fair value gain of RM5.29 million from investment properties, compared to a fair value loss of RM0.28 million in the previous year. The group's profit after tax and minority interests (PATAMI) increased significantly to RM11.30 million, representing a 87.73% increase from RM6.02 million recorded last year, demonstrating the successful execution of Resintech's strategic initiatives and effective cost management. For the fourth quarter (Q4) of FY25, Resintech reported revenue of RM29.33 million, an increase of 8.94% year-over-year (YoY) from RM26.92 million in Q4 FY24. Profit before tax in Q4 increased significantly to RM7.39 million from RM2.71 million year-over-year (YoY), driven by operational improvements and a substantial fair value gain on investment properties. Commenting on the strong financial results, Resintech managing director Datuk Dr Teh Kim Poo said the robust financial performance achieved this fiscal year reflects the team's consistent efforts in driving operational excellence and strategic growth initiatives. 'The sustained demand for our core plastic pipe systems, coupled with gains from strategic asset management, has considerably strengthened our profitability,' he said in a statement. Resintech continues to strengthen its market leadership, particularly in the thriving water infrastructure and pipe systems segments. The recent strategic initiatives, including significant capital investments in blow moulding machinery for East Malaysia markets, are expected to positively impact the group's topline and bottom line in the upcoming financial year. 'While we remain vigilant regarding the challenges posed by currency fluctuations and rising operational costs, our strategic investments, combined with steady market demand, position Resintech favourably for continued growth. 'Barring unforeseen circumstances, we expect our performance trajectory to remain positive,' Teh said.
BusinessToday
26-05-2025
- Business
- BusinessToday
Solid Start For Maybank With Q1 Profit Rising 4% To RM2.59 Billion
Malayan Banking Bhd recorded a net profit of RM2.59 billion attributable to equity holders for the first quarter ended 31 March 2025 (Q1 FY2025), up 4% year-on-year (YoY) from RM2.49 billion in the same period last year. The Group's performance was underpinned by stronger lending activity and a sharp rebound in its insurance and takaful segment, even as other operating income took a hit from adverse market revaluation effects. Key Highlights for the quarter include: Net profit : RM2.59 billion (+4.0% YoY) : RM2.59 billion (+4.0% YoY) Net interest and Islamic banking income : RM5.29 billion (+0.8% YoY) : RM5.29 billion (+0.8% YoY) Insurance/takaful service results : RM471.4 million (+RM289.3 million YoY) : RM471.4 million (+RM289.3 million YoY) Other operating income : RM2.10 billion (-26.8% YoY) : RM2.10 billion (-26.8% YoY) Impairment losses on loans and debts : RM384.2 million (-17.9% YoY) : RM384.2 million (-17.9% YoY) Overhead expenses : RM3.74 billion (+2.3% YoY) : RM3.74 billion (+2.3% YoY) Maybank's net interest income and Islamic banking income edged up 0.8% to RM5.29 billion, indicating continued resilience in its core banking operations amid evolving market dynamics. The standout performer was the Group's insurance and takaful business, which saw its service result jump by RM289.3 million to RM471.4 million. This was a significant contributor to the Group's overall earnings growth in the quarter. The Group's other operating income, however, declined sharply by RM768.5 million or 26.8% to RM2.10 billion. This was primarily due to unrealised mark-to-market losses on financial investments and liabilities measured at fair value through profit or loss (FVTPL). In contrast to gains in Q1 FY2024, the Group recorded a RM765.6 million loss on investment revaluation and a RM374.6 million loss on financial liabilities. These losses were partially offset by a turnaround in derivatives, with unrealised gains of RM816.0 million, and a higher foreign exchange gain of RM498.9 million for the quarter.C The Group's solid start sets a positive tone for FY2025 as it continues to strengthen its leadership position in Malaysia and the region. Related
Malaysian Reserve
24-04-2025
- Business
- Malaysian Reserve
MyAxis Group eyes LEAP Market listing to raise RM5.3m for expansion
FROZEN meat and processed meat producer MyAxis Group Bhd is set to list on the LEAP Market of Bursa Malaysia, aiming to raise RM5.29 million through a private placement of 44.1 million new shares at 12 sen apiece, implying a market capitalisation of RM40.9 million upon listing. The proceeds will be used to repay bank borrowings (RM3 million), purchase new machinery, support working capital, enhance branding and marketing, and cover listing expenses. MyAxis, through its wholly owned subsidiary KK Fresh Frozen Sdn Bhd, supplies frozen and processed poultry and red meat products, primarily to F&B operators and retail markets. It also plans to commence operations at a new halal-certified processing facility by August 2025, which will more than double its storage and processing capacity. The group posted a strong rebound in earnings, with net profit rising to RM1.75 million in the six-month financial period ended March 2025, up from RM0.10 million a year earlier, driven by higher-margin processed meat sales. Promoters Datuk Tan Hwa Sing and Khoo Lay Tatt will remain majority shareholders post-listing, with 90% and 10% stakes respectively. Looking ahead, MyAxis intends to pursue industry certifications including Halal, MESTI, GMP, HACCP, and VHM, and expand its processed meat line to capture growing demand in Malaysia and the broader halal food segment. ZICO Evolve Capital Sdn Bhd is the approved adviser for the IPO. –TMR
