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New Straits Times
29-05-2025
- Business
- New Straits Times
UEM edgenta secures order book worth RM1.1bil in Q1, bringing total to RM9.3bil
KUALA LUMPUR: UEM Edgenta Bhd has secured an order book worth RM1.1 billion in the first quarter ended March 31, 2025 (1Q FY2025), bringing the company's cumulative order book to RM9.3 billion as at March 31, 2025. Chief financial officer Ahmad Fazril Fauzi said the RM1.1 billion represents 39 per cent of the total order book secured in FY2024. "We secured RM2.8 billion for the whole of last year, and by the first quarter of this year, we have already achieved 39 per cent of that," he said during a virtual analyst and media briefing today. Of the RM9.3 billion order book, RM5.8 billion is contributed by infrastructure services, followed by healthcare solutions (RM2.5 billion), property and facility solutions (RM600 million), and asset consultancy (RM400 million). "We are bullish on the performance going forward, supported by the positive momentum of its international operations as we secured contract wins in key markets such as Saudi Arabia, the United Arab Emirates (UAE) and Singapore. "The group's operations in Saudi Arabia and the UAE achieved a strong 24 per cent year-on-year revenue growth, driven by effective integration efforts and the scaling of newly acquired entities" he added. Elaborating further, he added that in Singapore, new contract wins amounting to RM462.8 million within the Healthcare Solutions division contributed to an encouraging order book, while additional wins in Taiwan (RM328.7 million) are also supporting the group's efforts to stabilise and strengthen its business performance. Commenting on its financial results ended March 31, 2025, Ahmad Fazril said the company is expected to return to profitability as early as the second quarter after recording losses in 1Q FY2025. He attributed the losses to cyclical factors. UEM Edgenta turned red in 1QFY2025, registering a net loss of RM17.95 million compared with RM9.77 million in the same quarter a year ago, while revenue declined to RM646.06 million versus RM677.6 million recorded previously.
The Star
29-05-2025
- Business
- The Star
UEM Edgenta secures order book worth RM1.1bil in 1Q25, bringing total to RM9.3bil
KUALA LUMPUR: UEM Edgenta Bhd has secured an order book worth RM1.1 billion in the first quarter ended March 31, 2025 (1Q FY2025), bringing the company's cumulative order book to RM9.3 billion as at March 31, 2025. Chief financial officer Ahmad Fazril Fauzi said the RM1.1 billion represents 39 per cent of the total order book secured in FY2024. "We secured RM2.8 billion for the whole of last year, and by the first quarter of this year, we have already achieved 39 per cent of that," he said during a virtual analyst and media briefing today. Of the RM9.3 billion order book, RM5.8 billion is contributed by infrastructure services, followed by healthcare solutions (RM2.5 billion), property and facility solutions (RM600 million), and asset consultancy (RM400 million). "We are bullish on the performance going forward, supported by the positive momentum of its international operations as we secured contract wins in key markets such as Saudi Arabia, the United Arab Emirates (UAE) and Singapore. "The group's operations in Saudi Arabia and the UAE achieved a strong 24 per cent year-on-year revenue growth, driven by effective integration efforts and the scaling of newly acquired entities" he added. Elaborating further, he added that in Singapore, new contract wins amounting to RM462.8 million within the Healthcare Solutions division contributed to an encouraging order book, while additional wins in Taiwan (RM328.7 million) are also supporting the group's efforts to stabilise and strengthen its business performance. Commenting on its financial results ended March 31, 2025, Ahmad Fazril said the company is expected to return to profitability as early as the second quarter after recording losses in 1Q FY2025. He attributed the losses to cyclical factors. UEM Edgenta turned red in 1QFY2025, registering a net loss of RM17.95 million compared with RM9.77 million in the same quarter a year ago, while revenue declined to RM646.06 million versus RM677.6 million recorded previously. - Bernama
Barnama
23-05-2025
- Business
- Barnama
KESUMA Studying Proposal To Raise Retirement Age
KLANG, May 23 (Bernama) -- The Ministry of Human Resources (Kesuma) is currently reviewing the proposal to raise the mandatory retirement age from 60 to 65, said Minister Steven Sim. He said the matter was being examined by a special committee led by Kesuma's deputy secretary-general (Policy and International) Dr Mohd Shaharin Umar as it involved labour laws which fell under the ministry's purview. He said Kesuma would seek input and feedback from stakeholders, especially the public sector, workers, and employers, during the study to ensure compliance with international best practices. 'This committee will look at the suitability of raising the retirement age in Malaysia as there are pros and cons, along with certain challenges. However, within the ministry, part of labour market reforms involves reviewing all 28 existing labour laws. 'This is because some of these laws are outdated. We will look at ways to refine and harmonise them, and there are also (provisions) that we need to abolish or update,' he said after the central-level 2025 Union Affairs Development Grant (PHEKS) handover ceremony here today. Yesterday, Prime Minister Datuk Seri Anwar Ibrahim said the proposal to raise the mandatory retirement age from 60 to 65 was among the issues requiring attention and careful consideration. Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said had previously proposed that the government consider raising the mandatory retirement age from 60 to 65. Azalina, who made the suggestion in her personal capacity, said it would be a loss for individuals to retire at 60 when they were still energetic, productive and capable of contributing to the workforce. Regarding today's event, Sim said the government had allocated a total of RM10 million this year, up from RM5.8 million in 2024, marking the highest amount in the history of PHEKS implementation.
New Straits Times
23-05-2025
- Business
- New Straits Times
Steven Sim: Retirement age among 28 labour laws under review
SHAH ALAM: The issue of the retirement age is among 28 labour laws under the purview of the Human Resources Ministry (Kesuma) currently undergoing review, reforms and updates. Human Resources Minister Steven Sim said the matter was being considered carefully, taking into account the suitability of any changes in the Malaysian context, as there are both pros and cons to raising the retirement age. "This issue has its benefits, but also comes with its own challenges. However, Kesuma is already planning various labour market reforms, including reviewing all 28 labour laws under the ministry's jurisdiction. "Some of these laws are outdated, so we are looking at how to streamline, harmonise, and in some cases, repeal or update certain provisions. "I don't want to focus solely on the retirement age issue because there are many aspects within the legislation that require re-evaluation. "We are working to harmonise these laws with the ultimate aim of ensuring Malaysia's labour laws are in line with international best practices," he said when asked to comment on a proposal to raise the retirement age to 65. He was speaking at a press conference after officiating the Central Zone 2025 Trade Union Affairs Programme (Pheks) aid handover ceremony here today. Sim said the review and assessment of the 28 labour laws are currently ongoing. "We are gathering input and feedback from stakeholders, particularly from the public sector, the government, workers, and employers," he added. Yesterday, Prime Minister Datuk Seri Anwar Ibrahim was reported as saying that the proposal to extend the retirement age to 65 should be given serious consideration. On May 20, Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said had proposed that the government consider raising the mandatory retirement age from 60 to 65. Azalina, sharing her personal opinion, said it was a loss to compel individuals to retire at 60 when many are still energetic, productive, and capable of contributing to the workforce. Meanwhile, commenting on today's event, Sim said Kesuma has allocated RM10 million for Pheks this year, compared with RM5.8 million in 2024, the largest increase in the programme's history. "This reflects Kesuma's commitment to strengthening the trade union movement in Malaysia. "The aid can be used for training and education programmes. We want union members to receive proper training, including in skills development, management, leadership, and more. "Secondly, this year we are introducing support for digitalisation, encouraging unions to adopt computer technology and move towards digital platforms," he said. To date, a total of 1,049 applications for the aid have been received, with 551 applications approved amounting to RM7.15 million. This includes 138 applications from the central zone, covering Selangor and the Federal Territories, worth RM2.1 million.
Malay Mail
02-05-2025
- Business
- Malay Mail
Trade unions to receive up to RM50,000 under expanded scheme from May 12
KUALA LUMPUR, May 2 — The Human Resources Ministry (KESUMA) will begin disbursing the Union Affairs Development Grant (PHEKS) starting May 12 to enable trade unions to carry out various programmes, including training initiatives to strengthen their respective organisations. Deputy Human Resources Minister Datuk Seri Abdul Rahman Mohamad said the total grant allocation has been increased to RM10 million this year, compared to RM5.8 million last year. 'With this increased allocation, we can expand the support or increase the amount each union receives. This time, it involves 551 unions. Previously, we provided between RM20,000 and RM50,000 depending on the size of the union. 'This grant is very meaningful for the unions, and we are providing it to support them in running their programmes,' he told reporters after the 2025 Labour Day Celebration and Cuepacs Gathering held here today. Also present were Public Service Department director-general Tan Sri Wan Ahmad Dahlan Abdul Aziz, Cuepacs president Datuk Dr Adnan Mat, and Deputy Inspector-General of Police Datuk Seri Ayob Khan Mydin Pitchay. Abdul Rahman added that he and Human Resources Minister Steven Sim Chee Keong will take turns presenting the grants, starting in Sabah. Earlier, Abdul Rahman highlighted that the Ministry is committed to strengthening policies and workers' protection rights, noting that eight labour-related laws have been drafted and amended since last year. All of these Acts have now been passed in Parliament, marking a significant milestone for the country in reinforcing workers' rights, including the recent amendments to the Sabah and Sarawak Labour Ordinances,' he said. — Bernama
