Latest news with #RM52
The Sun
17 hours ago
- Entertainment
- The Sun
Painting new artistic milestones
INSPIRATIONS come in many forms. For Eston Tan Eok Sim, the 53-year-old is mused by the humanity around him as an artist. From a young age, the Taiwan-based artist has used his surroundings to fuel his artistry. 'My creative process often begins with experiencing life, observing the world around me and listening to my inner emotions. Many of my works are drawn from personal life, family and even reflections on social issues or international events,' shared the contemporary storyteller. His poignant interpretations have served him well as it has allowed him to connect with audiences from all walks of life. From Malaysia, Hong Kong and France to the US, Tan's pieces have been widely collected and exhibited. Many have been auctioned, with realised prices ranging from US$655 (RM2,758) to US$12,383. The most expensive piece was One Day, What If No Current, which was sold for RM52,149 at Bonhams Hong Kong. Tan is set to achieve a new milestone, holding his upcoming exhibition Our Island at AAAC Gallery (All About Art) in Singapore. As he enters his 25th year as an artist, Tan speaks with theSun on his creative growth and the exhibition. When were you first exposed to art? My journey began at the age of nine. I was inspired by artists I saw featured in newspapers. It was a childhood dream. My mother had a profound influence on me. She always said, 'Those who turn their hobbies into their profession find the greatest happiness in life.' Her encouragement stayed with me. Despite financial hardships, I started working at the age of 10 to fund my art materials and studies. What were some of your early artistic memories? I remember sketching on recycled paper and cardboard boxes as a child. I grew up in the countryside and I would use a pencil to capture everything around me – buffaloes, pigs, ducks and the wooden huts of our neighbours. My first formal painting was a simple school landscape but even before that, I had already discovered how much joy drawing brought me. It was a quiet happiness, something pure and deeply personal. What pushed you to pursue art full-time? I decided to become a full-time artist in 2000. The turning point came in 1999 during a group exhibition at Bank Negara Malaysia, where one of my paintings was purchased by the late Toh Puan Mahani. Why Not is among Tan's An Iron Fist in a Velvet Glove series. She is the wife of the former finance minister (Tun Daim Zainuddin). That moment filled me with joy and affirmation because it proved how far I have come as a ' kampung ' boy. I remember telling a group of senior artists, 'Next year, I am going full-time'. Many of them strongly advised against it. But deep down, I believed if I wanted to be a good artist, I had to give it my all. Without focus and commitment, there could be no real growth. I told myself, if hardship is part of the path, let it strengthen me. Is that why you moved to Taiwan? Taiwan gave me the space and freedom to grow as an artist, it is where I found my voice. But Malaysia gave me my foundation – my earliest memories, values and artistic instincts. My roots are in Penang and I feel a deep need to reconnect with where it all began. I also have been returning to Malaysia more frequently, but I still live in Taiwan. Both places are integral to who I am. Do you have a specific piece in your collections you are most proud of? This is a difficult question because my works hold deep personal meaning. Over the past decade, I have shifted from simply painting to truly creating. From Creation of Life to the Roots series, each series has been a reflection of my life, my emotions and my spiritual journey. I no longer just 'make paintings', I pour my heart and soul into every piece. Each work is a dialogue with my experiences and in that sense, many of them are equally important to me. Penang Chief Minister Chow Kon Yeow (left) admiring Tan's art at a recent preview in Penang. How do you pick the galleries to work with? For me, the relationship between an artist and a gallery must be built on mutual trust and a shared long-term vision. I believe the gallery's perspective and sense of purpose are crucial – not just their commercial reach, but their understanding of art's deeper meaning. A good gallery does not just represent – it plans, curates and grows with the artist, allowing them the freedom to focus on creating without distraction. How do you then decide on the price for each piece? Pricing a work of art involves several key factors – its size, level of complexity and my experience in the art market over the years. But perhaps most importantly, I also consider the emotional and symbolic depth of each piece. Tan moved to Taiwan to push his boundaries as an artist. What can you tease us about your upcoming exhibition? My upcoming solo exhibition, Our Island, will be held at AAAC Gallery in Singapore from Aug 30 to Sept 28, in celebration of my 25th year as a full-time artist. We recently held an exclusive preview in my hometown Penang, supported by Robb Report and Pen Marine. I am exploring opportunities to bring this exhibition to Malaysia, which would be very meaningful to me. How do you hope to inspire Malaysians with the exhibition? I hope it will encourage reflection, not just on nature and identity but also on resilience, compassion and emotional honesty. I believe art has the power to open hearts and spark meaningful conversations.
The Sun
17 hours ago
- Entertainment
- The Sun
Penang-born Eston Tan celebrates his 25th anniversary as full-time artist
INSPIRATIONS come in many forms. For Eston Tan Eok Sim, the 53-year-old is mused by the humanity around him as an artist. From a young age, the Taiwan-based artist has used his surroundings to fuel his artistry. 'My creative process often begins with experiencing life, observing the world around me and listening to my inner emotions. Many of my works are drawn from personal life, family and even reflections on social issues or international events,' shared the contemporary storyteller. His poignant interpretations have served him well as it has allowed him to connect with audiences from all walks of life. From Malaysia, Hong Kong and France to the US, Tan's pieces have been widely collected and exhibited. Many have been auctioned, with realised prices ranging from US$655 (RM2,758) to US$12,383. The most expensive piece was One Day, What If No Current, which was sold for RM52,149 at Bonhams Hong Kong. Tan is set to achieve a new milestone, holding his upcoming exhibition Our Island at AAAC Gallery (All About Art) in Singapore. As he enters his 25th year as an artist, Tan speaks with theSun on his creative growth and the exhibition. When were you first exposed to art? My journey began at the age of nine. I was inspired by artists I saw featured in newspapers. It was a childhood dream. My mother had a profound influence on me. She always said, 'Those who turn their hobbies into their profession find the greatest happiness in life.' Her encouragement stayed with me. Despite financial hardships, I started working at the age of 10 to fund my art materials and studies. What were some of your early artistic memories? I remember sketching on recycled paper and cardboard boxes as a child. I grew up in the countryside and I would use a pencil to capture everything around me – buffaloes, pigs, ducks and the wooden huts of our neighbours. My first formal painting was a simple school landscape but even before that, I had already discovered how much joy drawing brought me. It was a quiet happiness, something pure and deeply personal. What pushed you to pursue art full-time? I decided to become a full-time artist in 2000. The turning point came in 1999 during a group exhibition at Bank Negara Malaysia, where one of my paintings was purchased by the late Toh Puan Mahani. She is the wife of the former finance minister (Tun Daim Zainuddin). That moment filled me with joy and affirmation because it proved how far I have come as a 'kampung' boy. I remember telling a group of senior artists, 'Next year, I am going full-time'. Many of them strongly advised against it. But deep down, I believed if I wanted to be a good artist, I had to give it my all. Without focus and commitment, there could be no real growth. I told myself, if hardship is part of the path, let it strengthen me. Is that why you moved to Taiwan? Taiwan gave me the space and freedom to grow as an artist, it is where I found my voice. But Malaysia gave me my foundation – my earliest memories, values and artistic instincts. My roots are in Penang and I feel a deep need to reconnect with where it all began. I also have been returning to Malaysia more frequently, but I still live in Taiwan. Both places are integral to who I am. Do you have a specific piece in your collections you are most proud of? This is a difficult question because my works hold deep personal meaning. Over the past decade, I have shifted from simply painting to truly creating. From Creation of Life to the Roots series, each series has been a reflection of my life, my emotions and my spiritual journey. I no longer just 'make paintings', I pour my heart and soul into every piece. Each work is a dialogue with my experiences and in that sense, many of them are equally important to me. How do you pick the galleries to work with? For me, the relationship between an artist and a gallery must be built on mutual trust and a shared long-term vision. I believe the gallery's perspective and sense of purpose are crucial – not just their commercial reach, but their understanding of art's deeper meaning. A good gallery does not just represent – it plans, curates and grows with the artist, allowing them the freedom to focus on creating without distraction. How do you then decide on the price for each piece? Pricing a work of art involves several key factors – its size, level of complexity and my experience in the art market over the years. But perhaps most importantly, I also consider the emotional and symbolic depth of each piece. What can you tease us about your upcoming exhibition? My upcoming solo exhibition, Our Island, will be held at AAAC Gallery in Singapore from Aug 30 to Sept 28, in celebration of my 25th year as a full-time artist. We recently held an exclusive preview in my hometown Penang, supported by Robb Report and Pen Marine. I am exploring opportunities to bring this exhibition to Malaysia, which would be very meaningful to me. How do you hope to inspire Malaysians with the exhibition? I hope it will encourage reflection, not just on nature and identity but also on resilience, compassion and emotional honesty. I believe art has the power to open hearts and spark meaningful conversations.
BusinessToday
3 days ago
- Business
- BusinessToday
Analysts Downgrade Genting Malaysia, After Sharp Drop In Q1 Profits
CIMB Investment Bank Bhd (CIMB Securities) has downgraded Genting Malaysia Bhd (GENM) to HOLD from Buy, with a sharply lower target price of RM1.95 from RM2.45, while Hong Leong Investment Bank (HLIB) has reiterated its HOLD call with a revised target price of RM1.82, as both research houses flagged significant earnings pressure from weaker-than-expected performance across domestic and international operations. GENM's core net profit for the first quarter of FY25 fell 78% year-on-year to RM52 million, which CIMB said was impacted by a broad-based earnings decline across Resorts World Genting (RWG), the US, and UK segments, compounded by higher net interest cost and an elevated effective tax rate. The results were well below expectations, coming in at only 9% and 8% of CIMB Securities' and consensus full-year forecasts, respectively. HLIB similarly noted that GENM's RM31.1 million core profit for the quarter missed its projection by a wide margin, at just 6% of its FY25 estimate. RWG's gross gaming revenue (GGR) was a key concern, declining 7% year-on-year and 9% quarter-on-quarter, driven mainly by a significant drop in VIP play, which fell 18% year-on-year. Although mass market GGR grew by 7%, it was not enough to offset the overall weakness. CIMB Securities highlighted that hilltop visitations dipped 2% year-on-year, likely impacted by the earlier timing of Hari Raya compared to 2024, which affected non-gaming activities. Meanwhile, EBITDA for the group fell 11% year-on-year to RM869 million, with EBITDA margins shrinking to 31.9%. In the US and Bahamas, EBITDA contracted 22% year-on-year, pressured by higher labour costs and a weaker US dollar against the ringgit. In the UK and Egypt, earnings fell 25% year-on-year under similar conditions, though they were flat quarter-on-quarter. Share of associate losses from Empire Resorts also widened sequentially. HLIB noted that while revenue in the US & Bahamas rose 8.6% quarter-on-quarter, group-wide earnings recovery was insufficient to match past performance due to structural headwinds in international markets. CIMB Securities revised its core earnings estimates down by 37–39% for FY25–27, expecting a 29% drop in FY25 earnings before a modest 12% recovery in FY26, aided by anticipated tourist inflows during Visit Malaysia Year. HLIB likewise slashed its forecasts by 36–40%, citing persistently high finance costs, tax burdens and operating volatility in the US. Despite the earnings headwinds, both brokers pointed out GENM's dividend yields remain relatively attractive at 5.5–6.6% over FY25–27. However, CIMB Securities stressed that valuation at an FY25 EV/EBITDA of 8.3x is only modestly attractive, trading at a 12% discount to its 10-year pre-COVID average. Upside risk remains in the form of a possible full casino licence in Downstate New York, which CIMB Securites estimates could add 40–50 sen to its target price. GENM shares closed at RM1.82 on 30 May, giving the group a market capitalisation of RM10.26 billion. Related
Yahoo
29-05-2025
- Business
- Yahoo
Singapore charges Indonesian traveller with stealing 250,000 KrisFlyer miles to buy pastries and phone at Changi Airport
SINGAPORE, May 29 — An Indonesian man has been charged in a Singapore court for allegedly using over 250,000 KrisFlyer miles from other people's accounts to go on a shopping spree. Rizaldy Primanta Putra, 28, faces four charges under the Computer Misuse Act, news agency Channel News Asia reported today. 'I intend to claim trial to the charges,' he was quoted as saying during a virtual appearance in court. His bail was set at S$15,000 (RM52,600). Citing from court documents, the news agency reported Rizaldy was accused of using 4,672 KrisFlyer miles on June 8, 2024, to buy S$31.15 (RM110) worth of items at Bugis Junction through a KrisPay wallet linked to an account that was not his. Less than two weeks later, on June 21, he allegedly spent another 245,491 KrisFlyer miles — from a different stolen account — to buy goods worth S$1,636.61 (RM5,730) at Changi Airport. He faces two additional charges for illegally logging into those accounts via the Kris+ app. Singapore police said Rizaldy had purchased access to the compromised accounts online while he was overseas. He then flew to Singapore in June 2024, where he allegedly used the stolen miles to buy pastries in Bugis and a phone and phone case at Changi Airport. The offences only came to light in October 2024, when Singapore Airlines lodged a police report after spotting suspicious redemptions flagged by retailers. By that time, Rizaldy had already left Singapore in September 2024. He was identified as a suspect following investigations that included reviewing CCTV footage. He was arrested at Changi Airport on January 11 upon returning to Singapore. If convicted of causing unauthorised modification of computer material by using others' KrisFlyer miles, he faces up to three years in jail, a fine of up to S$10,000 (RM35,000), or both. For each charge of accessing someone's account without authorisation, he could be jailed for up to two years, fined S$5,000 (RM17,500), or both.
BusinessToday
27-05-2025
- Automotive
- BusinessToday
Sime Darby's 9M Profit Plunges 60% To RM1.29 Billion
Sime Darby Berhad reported a net profit from continuing operations of RM1.29 billion for the Group's nine-month period ended 31 March 2025 (9M FY2025), reflecting a growth of 9.9 per cent from the previous corresponding period. However, on a year-on-year comparison, the group saw a decline of 60% from RM3.21 billion. Revenue, on the other hand, was higher at RM52 billion compared to RM48 billion in 3QFY24. For the third quarter under review, Sime saw its net profit plunge from RM340 million to RM193 million, down 43% from the preceding year's quarter. Revenue was recorded at RM16 billion, which was lower by RM2 billion versus the year before. The performance was mainly attributable to the higher contribution from the UMW division and a higher one-off gain on the disposal of Malaysia Vision Valley (MVV) land, despite lower profits from the Industrial and Motors divisions. The Group's revenue for the nine months increased by 8.2 per cent to RM52.3 billion, compared with RM48.3 billion in the previous financial year. During the quarter under review, the Industrial division recorded a lower PBIT of RM221 million, mainly due to reduced profits from the division's operations in Australasia. In Australasia, profits were impacted by a currency-related parts price adjustment, unfavourable weather conditions, and a weaker Australian dollar against the Malaysian Ringgit. The Motors division reported a reduced PBIT of RM114 million in Q3 FY2025. This is attributed to the lower vehicle sales in most markets, as well as increased competition For the UMW division, PBIT for the quarter under review was largely contributed by the division's automotive business, particularly higher Perodua sales. However, the division saw a decline in PBIT to RM194 million as a result of competitive market conditions. Sime's Group Chief Executive Officer Dato' Jeffri Salim Davidson said, 'We continue to face external headwinds, particularly in the Motors division with ongoing economic uncertainty and the rise of Chinese automotive brands increasingly dominating the market. The consumer segment remains challenging amid the continuing price war and industry overproduction in China. For the UMW division, Toyota and Perodua continue to perform well in Malaysia. Despite the impact of the currency-related parts price adjustment, the long-term prospects for our Industrial division remains positive on the back of robust mining demand. Related
