Latest news with #RM585
New Straits Times
28-05-2025
- Business
- New Straits Times
CIMB Securities upgrades Hap Seng Plantations to 'Buy' on solid fundamentals
KUALA LUMPUR: CIMB Securities Sdn Bhd has upgraded Hap Seng Plantations Holdings Bhd to a 'Buy' call from 'Hold' with an unchanged target price of RM2.02 per share, citing attractive valuations following a recent share price correction. The firm said the stock's valuation has become compelling, with an enterprise value (EV) of RM25,000 per hectare for its planted estates, which is below the estimated replanting cost of RM30,000 per hectare. CIMB Securities projects weaker sequential earnings due to a lower average crude palm oil (CPO) price of RM4,319 per tonne in April 2025, compared to an average of RM4,723 per tonne in the first quarter of financial year 2025 (1QFY25). However, it noted that the downside is expected to be partly offset by higher fresh fruit bunch (FFB) output. Hap Seng recorded FFB production of 51,387 tonnes in April, representing an 8.8 per cent increase month-on-month and a 12.5 per cent rise year-on-year (YoY). "We believe the stock has re-rating potential, supported by its undervalued estates, a solid net cash position of RM585 million or 73 sen per share as of March 31, 2025, and projected dividend yields of 4.6 per cent to 5.5 per cent for FY25 to FY27, based on a 60 per cent payout ratio," the firm said in a note. CIMB Securities has re-evaluated its stance on Hap Seng Plantations following the release of the company's first quarter earnings. The company reported a core net profit of RM39 million for 1QFY25, representing a 60.5 per cent YoY increase but a 35.5 per cent quarter-on-quarter decline. "The results were broadly in line with our and consensus expectations, accounting for 29 per cent of our and 25 per cent of consensus full-year estimates. "The main disappointment was the 11 per cent YoY and 27 per cent QoQ drop in FFB output, attributed to wet weather across Hap Seng's estates, falling short of the FY25 target of 9.0 per cent FFB output growth," it added.
The Star
05-05-2025
- The Star
Suspected meth found in deserted car
KOTA BARU: More than 18kg of crystal powder suspected to be drugs has been seized by the authorities from an abandoned car in Pasir Mas. The Customs Department suspected the substance to be methamphetamine, worth RM585,664. Its Kelantan director, Wan Jamal Abdul Salam Wan Long, said that acting on a tip-off, an operation team from the Kota Baru enforcement branch conducted a raid at Kampung Resak, Pasir Mas, on April 10. During the search, the team found a Proton Iswara abandoned in the area. He said an inspection of the car found a sack containing 17 compressed pieces of clear white powder resembling crystals, Bernama reported. 'Initial investigations found that the syndicate involved is believed to be using the vehicle as a temporary storage place before the drugs were distributed to customers,' he said in a statement yesterday. The case is being investigated under Section 39B(1)(a) of the Dangerous Drugs Act. If convicted under the provision, offenders could face the death penalty or life imprisonment with not less than 15 strokes of the cane. Wan Jamal urged the public with information related to smuggling activities, including cigarettes, liquor, firecrackers, drugs and vehicles to call the Customs' toll-free line at 1-800-88-8855 or contact any nearby Customs office. 'The identity of the informant will be kept confidential,' he added.
The Star
04-05-2025
- Entertainment
- The Star
Cat surprises with hotpot drop
Compiled by JAROD LIM, RAHIMY RAHIM and R. ARAVINTHAN NINE diners who were enjoying themselves at an open air hotpot restaurant in Chongqing, China, were scalded by hot soup after a cat fell into the pot from the second floor, China Press reported. The boiling spicy broth splashed, burning the customers. Fortunately, none were seriously injured. The cat, however, suffered burns and abrasions on all four legs, along with fractures. The cat's treatment cost up to 1,000 yuan per day (RM585). 'If no one comes forward to claim the cat, it might have to start working at the hotpot restaurant to pay off its debt,' the owner quipped. As a gesture of goodwill, the restaurant waived all charges for that evening. > Hong Kong actor Louis Koo has opened up about his chronic neck pain, Sin Chew Daily reported. While promoting Vital Sign, which is set to be released on May 15 in Malaysia, Koo said the pain is so bad that he sometimes takes morphine to help sleep. 'My neck has been hurting for three or four years now and I can't sleep unless I take morphine. Sometimes the pain is so bad I can't even lift my arms.' Koo earlier revealed that he had suffered a retinal tear and has been wearing sunglasses for recent public events. He is scheduled to undergo surgery later this month. > Mandopop star Wang Leehom had a fall during a concert in Hangzhou, China, due to a lift platform descending prematurely, Oriental Daily reported. While performing the song Heaven and Earth Dragon, Wang was suspended by wires for an aerial segment designed to create a dramatic 'flying' visual effect. However, after the wires detached and he was preparing to land, the lift platform suddenly began to descend, causing him to lose his footing. 'This was a lapse in our team's safety protocols, and we apologise for it,' said the manager. While the fall was minor and no injuries were sustained, fans were visibly shaken after footage surfaced online. The above articles are compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). As such, stories are grouped according to the respective language/medium. Where a paragraph begins with a >, it denotes a separate news item.
Malay Mail
04-05-2025
- Malay Mail
Customs Dept seizes methamphetamine worth more than RM500,000 in abandoned car
KOTA BHARU, May 4 — The Royal Malaysian Customs Department (JKDM) seized 18.032 kilogrammes of white crystal powder, suspected to be methamphetamine, worth RM585,664 in an abandoned car in Kampung Resak, Pasir Mas, last month (April 10). Its Kelantan director, Wan Jamal Abdul Salam Wan Long, said that acting on a tip-off, an operation team from the Kota Bharu enforcement branch conducted a raid there at 7.18 am last April 10 and found a Proton Iswara car abandoned in the area. He said an inspection of the car found a sack containing 17 compressed pieces of clear white powder resembling crystals, suspected to be methamphetamine. 'Initial investigations found that the syndicate involved is believed to be using the vehicle as a temporary storage place before the drugs were distributed to customers,' he said in a statement today. He said the case is investigated under Section 39B(1)(a) of the Dangerous Drugs Act, which provides the death penalty or life imprisonment with not less than 15 strokes of the cane if convicted. He urged the public with information related to smuggling activities, including cigarettes, liquor, firecrackers, drugs and vehicles to call the Customs Toll Free Line at 1-800-88-8855 or by contacting any nearby customs office. The identity of the informant will be kept confidential,' he said. — Bernama
The Sun
04-05-2025
- The Sun
Custom Dept seizes methamphetamine worth more than RM500,000 in abandoned car
KOTA BHARU: The Royal Malaysian Customs Department (JKDM) seized 18.032 kilogrammes of white crystal powder, suspected to be methamphetamine, worth RM585,664 in an abandoned car in Kampung Resak, Pasir Mas, last month (April 10). Its Kelantan director, Wan Jamal Abdul Salam Wan Long, said that acting on a tip-off, an operation team from the Kota Bharu enforcement branch conducted a raid there at 7.18 am last April 10 and found a Proton Iswara car abandoned in the area. He said an inspection of the car found a sack containing 17 compressed pieces of clear white powder resembling crystals, suspected to be methamphetamine. 'Initial investigations found that the syndicate involved is believed to be using the vehicle as a temporary storage place before the drugs were distributed to customers,' he said in a statement today. He said the case is investigated under Section 39B(1)(a) of the Dangerous Drugs Act, which provides the death penalty or life imprisonment with not less than 15 strokes of the cane if convicted. He urged the public with information related to smuggling activities, including cigarettes, liquor, firecrackers, drugs and vehicles to call the Customs Toll Free Line at 1-800-88-8855 or by contacting any nearby customs office. The identity of the informant will be kept confidential,' he said.
