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New Straits Times
6 days ago
- Business
- New Straits Times
KPJ Healthcare shares fall to one-month low, volume at year high
KUALA LUMPUR: Shares of KPJ Healthcare Bhd fell nearly 10 per cent in active trade on Friday, with volume surging to its highest level this year, after the group reported a drop in first-quarter earnings. The stock was the third most actively traded on Bursa Malaysia, opening at RM2.88, down 2.7 per cent from yesterday's close of RM2.96, before slipping 9.8 per cent to a morning low of RM2.67. At 11.05am, KPJ was trading at RM2.72, down 8.11 per cent to its lowest in over a month, with 30.95 million shares changing hands. This marked its highest single-day volume since Dec 13, 2024. Year-to-date, KPJ shares were still up 15.7 per cent, having started the year at RM2.35. This values the group at about RM12.27 billion. Yesterday, KPJ announced a 21.7 per cent decline in net profit to RM57 million for the first quarter ended March 31, 2025, down from RM72.8 million a year earlier, despite revenue rising seven per cent to RM971.8 million. The group attributed the weaker earnings to higher operating expenses and increased depreciation stemming from ongoing investments in new and existing hospital infrastructure. KPJ said it remains committed to its expansion strategy, which includes the development of new specialist hospitals and the enhancement of digital health services to meet evolving patient needs. There are at least 17 research firms covering the stock, according to Bursa Marketplace. Of these, 11 have a 'buy' call, five rate it a 'hold' and one recommends a 'sell'. The consensus 12-month target price stands at RM2.99, indicating an upside potential of about one per cent from Thursday's closing price.
New Straits Times
6 days ago
- Business
- New Straits Times
KPJ Healthcare's Q1 net profit falls to RM57mil, revenue up to RM971.8mil
KUALA LUMPUR: KPJ Healthcare Bhd recorded a net profit of RM57 million in the first quarter (Q1) of March 31, 2025, down 20 per cent from RM71 million in the same period last year Its revenue, however, increased 7.0 per cent to RM971.8 million from RM908 million previously, driven by the increase in patients' visits, as well as increased bed capacity. In a filing with Bursa Malaysia, the hospital operator said Malaysia segment contributed about 98 per cent of its total revenue, a 7.0 per cent increase from RM892.5 million last year. It added that the earnings before interest, taxes, depreciation and amortisation (Ebitda) of RM210.3 million in Q1 was higher by 9.0 per cent, while pre-tax profit stood at RM101.2 million. Others segment recorded revenue of RM17.1 million for the current quarter, a 6.0 per cent increase from RM16.1 million previously. The Ebitda fell to RM1.6 million due to the impairment of land in an oversea associate operation, amounting RM6.2 million. Accordingly, its pre-tax loss decreased to RM3.4 million compared to a pre-tax profit of RM3.9 million previously. "In March 2025, KPJ Healthcare opened its 30th hospital in Kuala Selangor, further advancing its capacity and reinforcing its position as Malaysia's largest private healthcare provider. "The group remains cautiously optimistic about its prospects for the financial year 2025, bolstered by its ongoing asset optimisation programme, capacity expansion and efforts to enhance operational efficiency," the company added.
New Straits Times
18-05-2025
- Entertainment
- New Straits Times
Elton John blasts UK government over 'criminal' copyright plans
LONDON: British pop legend Elton John branded the UK government "absolute losers" today over planned copyright law changes that would hand exemptions to tech firms. In a blistering interview broadcast by the BBC, "Rocket Man" star John said he felt "incredibly betrayed" and accused the government of preparing to "rob young people of their legacy and their income." The changes which he branded "criminal" would allow tech firms to use creators' content freely unless the rights holders opt out. But John, 78, who has sold over 300 million records worldwide in his decades-long career, said young artists did not have the resources "to fight big tech." He said he was not against artificial intelligence (AI) but that when it came to music and creativity a line should be drawn. The government's Data (Use and Access) Bill is currently going through parliament. The parliament's upper house supported an amendment designed to ensure copyright holders would have to give permission over whether their work was used and, in turn, see what elements had been taken, by who and when. But on Wednesday MPs in the lower house, in which the Labour government has a huge majority, voted down the changes. If the government's planned changes to copyright laws went ahead they would be "committing theft, thievery on a high scale", John told the BBC's Sunday with Laura Kuenssberg programme. "The government are just being absolute losers and I'm very angry about it," John said, blasting Technology Secretary Peter Kyle as a "bit of a moron." Prime Minister Keir Starmer has previously said the government needs to "get the balance right" with copyright and AI while noting that the technology represented "a huge opportunity." "They have no right to sell us down the river," John added, urging Starmer to "wise up" and "see sense." More than 1,000 musicians including Kate Bush, Annie Lennox and Damon Albarn released a silent album in February to protest at the proposed changes, saying they would legalise music theft. Earlier this month, writers and musicians including John and Bush also condemned the proposals as a "wholesale giveaway" to Silicon Valley in a letter to The Times newspaper. Other signatories included musicians Paul McCartney, Ed Sheeran, Dua Lipa and Sting, and writers Kazuo Ishiguro, Michael Morpurgo and Helen Fielding. A Department for Science, Innovation and Technology spokesperson said the bill was focused on "unlocking the secure and effective use of data for the public interest – boosting the economy by an estimated £10 billion (RM57 billion) over the course of the next 10 years." - AFP
New Straits Times
12-05-2025
- New Straits Times
Selangor Customs seize over RM770,000 worth of prohibited goods in Port Klang
KUALA LUMPUR: The Selangor Customs Department thwarted attempts to smuggle four types of prohibited goods into the country, with total seizures estimated at RM772,000, including unpaid duties and taxes. Its director, Tun Norlela Azumi Ramli, said the enforcement division made the seizures in four separate operations at the Free Zone areas of Port Klang in March. In the first case, the enforcement team detained a 20-foot container carrying 10,000kg of rice on March 25. Tun Nurlela Azmi said checks showed that the rice had been imported without a valid permit. "The goods were falsely declared as basil seed, mixed leaf, and mixed spices in an attempt to evade the import permit requirement under Padiberas Nasional Bhd (Bernas). "The estimated value of the seized rice was RM170,000, with RM68,000 in unpaid duties and taxes," she said in a statement today. The second seizure, made on March 20, involved a 40-foot container holding 147,600 units of electrical accessories valued at RM163,622.50. She said the importer was believed to have used incorrect declarations and tariff codes to avoid obtaining approval from the Energy Commission (ST) and SIRIM. The unpaid duties and taxes involved were estimated at RM57,768.18. In the third case, Tun Nurlela Azmi said customs officers seized 492 units of electric bicycles worth RM123,000 from a 40-foot container on March 25. The importer allegedly declared the items as bicycle parts to avoid the need for a permit from the Investment, Trade and Industry Ministry (MITI). The final case involved a shipment of 7,320 litres of ethyl alcohol, found on March 20. The goods, believed to have originated from Europe, were declared as ethanol solution to evade permit requirements from the department's director-general. The seized alcohol was valued at RM73,200 with unpaid duties and taxes totalling RM117,229. Tun Norlela Azmi also urged the public to assist the department in combating smuggling activities involving cigarettes, liquor, firecrackers, drugs, vehicles and other contraband, warning that such crimes not only affect national revenue but also pose a threat to public safety and national security.
Daily Express
10-05-2025
- Business
- Daily Express
Action on illegal lodgings hailed: Budget hotels also want fee move reviewed
Published on: Saturday, May 10, 2025 Published on: Sat, May 10, 2025 Text Size: 'While tourist numbers are up, hotel receipts are down. This might be due to tourists staying at unregulated STRA units, which don't contribute to the economy through licensing or taxes,' Ong (3rd from right) said. Kota Kinabalu: The Sabah chapter of the Malaysia Budget & Business Hotel Association (MyBHA) commended City Hall for its recent crackdown on 207 illegal STRA (Short Term Rental Accommodation) operators and urged for a statewide expansion of enforcement. 'We hope the government sustains this momentum and take a page from Penang's proactive STRA regulation efforts,' said its Chairman, James Ong Kim Loke. There is concern that unregulated STRA platforms may be contributing to lower hotel revenues, despite rising tourist arrivals. 'While tourist numbers are up, hotel receipts are down. This might be due to tourists staying at unregulated STRA units, which don't contribute to the economy through licensing or taxes,' Ong said. He also urged the State Government to intervene in City Hall's (DBKK) decision to revert to the original hotel licensing fee structure, calling it outdated and unsustainable. He said the licensing fees, calculated based on the number of occupied rooms per night, unfairly burden hotel operators and contradict the principle that such fees should be fixed operational expenses. 'This by-law is not cast in stone and can be overridden if the will is there. It is not right to charge guests indirectly through a fluctuating licensing fee. 'It penalises hotels for doing better,' said Ong. He added that MyBHA members had two meetings with DBKK last year, but the sessions were largely one-sided. 'We were just informed the old directive from 1989 allowing RM10 per room per year would be lifted by January 1, 2025. It gave the impression that it was non-negotiable.' Ong said some hotels have yet to pay the new 2025 licensing fees, pending the outcome of MyBHA's request for an urgent meeting with DBKK on the matter. He said Melaka and Penang imposed fixed business licence and signage fees while revenue from heritage tax is transparently managed and reinvested in tourism. He criticised DBKK's method of charging licensing fees as a revenue-based model, calling it an unpredictable and punitive fluctuating tax. A second-class 100-room hotel operating at 60 percent occupancy, he explained, would face a licensing fee of RM4,800 per month amounting to RM57,600 annually. 'This is just too much for small players like us. Why single us out? Are hotel operators the only ones occupying Kota Kinabalu City?' he said. He warned that unless changes are made, hotel operators may be forced to raise room rates, making them less competitive and giving more ground to illegal operators. MyBHA Sabah also hopes to seek an audience with Datuk Seri Panglima Masidi Manjun, the state's Finance Minister and former Minister of Tourism. 'He should understand our predicament better. Our members are doing their best to run viable businesses. We just want fair governance and a conducive environment to survive in 2025.' * 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
