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BusinessToday
5 days ago
- Business
- BusinessToday
Capital A Records Revenue Of RM5.3 Billion For 1QFY25, PAT Stood At RM194 Million
Capital A recorded revenue of RM5.3 billion for the current quarter (1QFY25) an increase of 1.4% over the corresponding period in 2024. EBITDA for the current period grew 7.2% to RM1.1 billion. The Group recorded a Profit Before Tax of RM 231.4 million as compared to a loss before taxation of RM 249.8 million in 1Q24. Profit After Tax stood at RM194 million—inclusive of RM143 million in one-off expenses relating to non-operating aircraft—to arrive at a 4% PAT margin. Highlights of the Aviation Group: Aviation revenue in 1Q2025 totaled RM4.9 billion, relatively flat Year-on-Year ('YoY') and marginally higher Quarter-on-Quarter (' QoQ'). EBITDA came in at RM980 million, with an EBITDA margin higher YoY at 20% due to an 11% drop in fuel expenses. Depreciation and interest expense costs related to non-operating aircraft amounted to RM143 million. Excluding these, net operating profit ('NOP') stood at RM241 million. Including all items, PAT was RM126 million. Operating cash flow was positive due to overall improvement in the business. Cash flow from investing activities included the purchase of property, plant and equipment and net changes in deposits with licensed banks with a maturity period of more than 3 months and deposits pledged as securities and restricted cash. Cash flow from financing activities for the current year are proceeds from borrowings and net of payment of debt and aircraft lease. Driven by the growth described above, the Continuing Operations reported revenue of RM778.3 million for 1Q25, a 15% increase from the corresponding period last year. Segmentally, the logistics sector contributed 33% of the revenue, MRO services 27% and the online travel platform 16%. The balance 24% was contributed by our brand, inflight and other businesses. The Continuing Operations recorded a positive EBITDA of RM101.9 million in 1Q25, an increase of 24%. Net profit after tax was at RM59.1 million, an increase of RM11.0 million. This improvement included unrealised foreign exchange gains of RM20.6 million, higher brand licence income and improved operating performance across the various segments. Related
New Straits Times
25-05-2025
- New Straits Times
Businessman loses RM5.3mil in investment scam
KUALA LUMPUR: A 67-year-old businessman has lost RM5.3 million after falling victim to a fraudulent, non-existent investment scheme. Selangor police chief Datuk Hussein Omar Khan said preliminary investigations revealed that the scam involved an advertisement on the Google app promoting a fake investment scheme known as Primus Pacific Partners. He said the victim clicked on the advertisement and was redirected to WhatsApp, where contact was established via phone call with a woman who introduced herself as 'Ms Ng', claiming to be an investment coach. "The victim was given an explanation about the investment and was added to a WhatsApp group. "He followed the investment scheme for about a week. "The suspect, 'Ms Ng', then instructed the victim to register as a new investor on a platform named he said in a statement today. Hussein said that at the outset, the victim received an initial return of RM24,308.48, which increased his confidence in the scheme. The victim then made 13 fund transfers totalling RM5.3 million to three different bank accounts. Hussein said the victim was promised returns based on market rates, but when he attempted to withdraw his investment profits, he was told to pay various tax charges. Police have opened an investigation paper under Section 420 of the Penal Code, which carries a maximum penalty of 10 years' jail, whipping, and a fine upon conviction. Police have urged the public to remain vigilant against investment schemes on social media, especially those offering unrealistic returns or involving financial platforms not approved by Bank Negara Malaysia or the Securities Commission Malaysia. Those who encounter suspicious or fraudulent calls may contact the National Scam Response Centre at 997 for verification, advice, or to lodge a report.
Borneo Post
16-05-2025
- Politics
- Borneo Post
Suhaimi accuses Nizam of hypocrisy, blames him for Sabah's development failures
Suhaimi KOTA KINABALU (May 16): Libaran member of parliament Datuk Suhaimi Nasir took Assistant Minister to the Chief Minister of Sabah, Datuk Nizam Titingan, to task and accused him of hypocrisy and political betrayal in the ongoing debate over Sabah's development issues. Suhaimi, a senior Umno Sabah leader, said Nizam's recent public remarks on the state's challenges were a 'sudden burst of spirit' from someone deeply embedded in the system that had contributed to those problems. Nizam 'YB Nizam speaks as though he is a 'sin cleanser,' forgetting that he has been part of the Sabah government for years. The footprints of his failures are still clearly visible in the history of the state's administration,' Suhaimi said in a statement today. Suhaimi questioned Nizam's credibility in criticising Sabah's governance, pointing out that from 1999 to 2023, when the state reportedly earned RM5.3 billion in timber revenue, Nizam served as Assistant Finance Minister and now holds a senior role in the current GRS-led government. 'Datuk Nizam, you are part of the problem, not the solution. Who failed to manage the timber revenue, water, roads, and electricity projects? Do not blame the party, blame the ministers who were alive and responsible, including yourself,' Suhaimi asserted. The Libaran MP further reminded Nizam that several senior GRS leaders today including Chief Minister Datuk Seri Hajiji Noor and Datuk Seri Masidi Manjun, were also part of the former state cabinet. 'If Nizam wants to point fingers over past failures, he should start with those who once sat beside him in the cabinet,' he added. Suhaimi did not hold back in criticising Nizam's departure from Umno, which had once backed him as a candidate, calling it an act of betrayal. 'Without Umno, you might still be waiting in line at the back, never having tasted power. Now, after jumping to GRS for the sake of power and position, you want to act like a people's hero? That's not the spirit of struggle, it is betrayal,' he opined. Highlighting that 90% of Sabah Umno's current leadership had no ties to previous state administrations, Suhaimi said the party is focused on reform, not defending past mistakes. 'We are not burdened by the sins of past administrations. We come forward with renewed resolve and a commitment to correct the mistakes left by people like Nizam,' said Suhaimi. He ended his statement with a clear message: Sabah needs effective leadership, not political theatrics. 'Do not try to cover your failures by throwing mud at others. The people do not need the croaks of frogs from the old political pond. They need sincere and honest voices of development,' he said.
Borneo Post
15-05-2025
- Politics
- Borneo Post
Sabah's infrastructure woes rooted in past govts, not current leadership – Nizam
Nizam KOTA KINABALU (May 15): The State Government should not be blamed for decades of infrastructure neglect rooted in the failure of previous administrations, said Assistant Minister to the Chief Minister, Datuk Nizam Abu Bakar Titingan. Responding to a media statement by Umno Sabah information chief Datuk Suhaimi Nasir, Nizam acknowledged Suhaimi's right as a Member of Parliament to raise public concerns over basic amenities such as water, electricity and roads. However, he stressed that such criticisms must be fair and historically honest. 'Suhaimi referenced RM5.3 billion in timber revenue collected between 1999 and 2023, questioning the disappearance of Sabah's wealth. That statement is in itself an admission that the decades-long Umno and Barisan Nasional-led government failed to channel that wealth into basic infrastructure development for the people of Sabah,' Nizam said. He pointed out that the current government only managed timber revenue from 2020 to 2023 totalling around RM639 million, with an annual average of RM213 million — a fraction of what's needed to fix state-wide infrastructure. 'To put it plainly, it is like trying to buy a Toyota Super King with a Perodua Kancil budget. It's impossible to bridge the development gap inherited from past mismanagement,' he remarked. Nizam also questioned the fate of the RM7.5 billion federal allocation meant for infrastructure between 2006 and 2015 during a period when Umno was still in power both at state and federal levels. 'Where did that RM7.5 billion go? And let's not forget since September 2020, Suhaimi and his party were part of the state government that replaced Warisan. Even the Sabah Umno chief, Datuk Seri Bung Moktar Radin, served as Deputy Chief Minister and Minister of Public Works. Yet, no major solutions were evident during that period,' he said. Nizam asserted that under the current, more structured administration, real efforts are underway to resolve Sabah's long-standing issues such as water supply where major projects including the Ulu Padas Hydroelectric Dam that is expected to be completed by 2030 and will supply 6,000 million litres of water daily, sufficient for the population for 100 years, while contributing 15% to the Sabah power grid. For electricity, it will be addressed through a mix of solar power, battery storage, and interconnection with the Sarawak grid and on roads, the Pan Borneo Federal Highway will resolve many connectivity challenges, while the Sabah state government has allocated nearly RM500 million to upgrade roads, particularly in northern districts. Nizam stressed that many of the state's main roads are federal assets and thus fall under federal jurisdiction. 'As a Member of Parliament, Datuk Suhaimi surely understands the separation of powers between federal and state governments. It's unjust to place the blame solely on the state,' he said. He added that Suhaimi should instead bring the matter to his own party president, who now serves as Minister of Rural and Regional Development and directly responsible for rural infrastructure. 'Under Gabungan Rakyat Sabah (GRS), the people of Sabah have reclaimed administrative sincerity and control. The current government is solving problems at a rate unmatched by previous administrations,' Nizam said. He urged for fact-based, constructive criticism instead of sensational narratives that only stir public anxiety. 'Sabah needs practical solutions, not outdated political rhetoric,' he concluded.
Daily Express
11-05-2025
- Business
- Daily Express
RM5.3 billion from Sustainable Forest Management License Agreement royalty: Chief Minister
Published on: Sunday, May 11, 2025 Published on: Sun, May 11, 2025 Text Size: Safar (fourth left) presenting the Compliance Certificate to a representative of Jawala Plantations Industries. Kota Kinabalu: Sabah collected RM5.3 billion in timber royalties under the Sustainable Forest Management License Agreement (SFMLA) between 1999 and 2023. Chief Minister Datuk Seri Hajiji Noor said the figure represented an average annual revenue of RM213 million and the SFMLA initiative has created about 40,000 jobs for Sabahans. 'It cannot be denied that some are still sceptical or hold negative views about SFMLA activities in Sabah. However, let us not be influenced by unconstructive opinions or instigations that do not contribute to the progress of Sabah,' he said at the Forestry Appreciation event at Sabah International Convention Centre (SICC) on Friday night. His speech was read by State Secretary Datuk Seri Sr Safar Untong. According to Hajiji, Sabah has been a pioneer in sustainable forest management (SFM) through a smart partnership with the private sector following the introduction of the long-term SFMLA in 1997. 'The sustainable forest management concept has greatly assisted the State Government in managing Sabah's vast forest reserves. It not only contributed to the State's economy through the logging sector and timber industry, but also plays a vital role in improving the living standards of local communities residing near licensed areas. 'To date, approximately 1.4 million hectares of Class II Forest Reserves in Sabah have been licensed to 43 SFMLA concessionaires,' he said. Hajiji said the State Government, through the Forestry Department, conducts an annual progress review of each SFMLA concessionaire. Since its inception, nine licenses have been revoked for failure to comply with the agreement conditions. 'This reflects the seriousness of the State Government in implementing the SFMLA concept. However, a majority of the SFMLA concessionaires have demonstrated their commitment to managing the forest sustainably under their concessions. 'The proof is tonight when 32 SFMLA concessionaires receive the Compliance Certificate for their achievement in the 2024 Annual Work Plan,' he said. The Chief Minister called upon all the SFMLA concessionaires involved in the forest plantation management to intensify their efforts to achieve the planting target in their respective areas. 'This is to ensure our goal under the Forest Plantation Development Action Plan 2022-2036, that is about 18,000 hectares of forest plantation per year could be achieved successfully,' he said. According to him, Sabah received an Appreciation Certificate last March from the Natural Resources and Environmental Sustainability Ministry as the third highest State with newly-gazetted protected areas in Malaysia after Johor and Sarawak from 2021 to 2023. In this respect, Sabah had received RM26.45 million under Phase One of the Ecological Fiscal Transfer (EFT) Fund from the Federal Government. 'The fund would add value to Sabah's effort to increase its Totally Protected Area (TPA) to 30 per cent. Sabah has already gazetted 2.012 million hectares of TPA, which is 27.15 per cent of the State's total area. In line with the 2018 Sabah Forest Policy and Hala Tuju Sabah Maju Jaya Development Plan, he said Sabah now needs about 211,000 hectares to achieve this year's 30 per cent TPA goal. Hence, he was glad to announce that the Forestry Department was preparing a proposal paper to gazette a few more critical protected areas under Section 5A of the 1968 Forest Enactment to ensure the TPA target could be met this year. 'I fully support this effort and hope it can be realised in the near future,' he said. Hajiji also said the amendment to the 1968 Forest Enactment passed in the State Assembly in April this year was apt since it gave the State Government the absolute authority to regulate forest-based carbon credit trading activities. He said with the amendment, forest carbon activity would be regulated according to the terms and conditions that safeguard the State's interest, and any monies or revenue derived from the forest carbon credit activity will go directly to the State. The amendment also gave the Chief Conservator of Forests power to close some of the sensitive forest reserves; to issue permits and impose fees for certain activities in a forest reserve; and to amend penalties for forest offences. 'This amendment, which is in line with the provision under the National Forest Act (Amendment) 2022, would further strengthen forest enforcement in combating illegal extraction of forest resources and enhance forest conservation efforts. Since 2010, 34 arrests for forest reserves encroachment could not be prosecuted in the court because the forest reserve was not closed for public access,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
