Latest news with #RM5mil
The Star
7 days ago
- Business
- The Star
MACC seizes RM32mil in assets belonging to 'Tan Sri' in highway funds probe
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized various assets worth RM32mil believed to belong to a highway concessionnaire with the title 'Tan Sri', following an investigation into the misappropriation of highway construction funds in the Klang Valley. According to a source, among the items seized were handbags, jewellery, luxury vehicles, watches and cash after the MACC Investigation Division searched two residences belonging to the individual in the capital. The source stated that in the search, MACC seized 217 luxury watches of various brands estimated to be worth about RM5mil, 27 handbags worth over RM1mil and jewellery valued at RM4mil. "During the search, MACC also seized nine luxury vehicles such as Bentley, Mercedes-Benz and Range Rover worth almost RM7mil," it said on Thursday (May 29). The source added that following the search, MACC also found a storage containing various types of luxury liquor in another residence estimated to be worth about RM3mi and believed to be linked to money-laundering activities. "In the same operation, MACC also seized another luxury residential unit in the capital estimated to be worth around RM12mil," he said. The source also explained that all goods and assets were seized for the purpose of further investigation under the MACC Act 2009 and the Anti-Money Laundering and Anti-Terrorism Financing Act 2001. – Bernama
The Star
27-05-2025
- Business
- The Star
Comfort Gloves expects local firms to maintain resilience
PETALING JAYA: Comfort Gloves Bhd (CGB) expects local glove manufacturers to be well-positioned to maintain their resilience despite ongoing global trade uncertainties, bolstered by favourable US import tariffs that provide a competitive edge over other major Asian exporters. 'While the sector is currently managing short-term pressures including anticipated sequential sales declines due to intensified global competition and potential market share adjustments in the European Union, the industry's fundamentals remain strong,' the company said in a filing with Bursa Malaysia yesterday. For its first quarter ended March 31, 2025, it reported a net loss of RM10.62mil, compared with a net loss of RM10.63mil a year earlier. 'This was mainly attributed to significant reduction in foreign exchange gain by RM5mil, lower inventory provision and written down of RM2.5mil as well as a lower recognition of deferred tax credit amounting to RM2.8mil,' it said. Revenue during the quarter rose to RM106.61mil from RM67.21mil in the previous corresponding quarter.
The Star
13-05-2025
- General
- The Star
Crematorium serving Kuala Langat communities to be ready by end-2026
TO serve a growing non-Muslim population, Kuala Langat Municipal Council (MPKL) will open its first crematorium by the end of next year. Estimated to cost RM5mil, the facility will be built on 0.4ha at a Hindu cemetery along Jalan Serdang Belah, Kampung Sungai Buaya in Banting, Selangor. Construction is expected to take 18 months. Speaking at a groundbreaking ceremony held at a shopping centre in Telok Panglima Garang, state investment, trade and mobility committee chairman Ng Sze Han said the crematorium would have three modern incineration units. 'Presently, Kuala Langat families have to go to facilities in Klang or Sepang, or use open burning methods,' he said. Also present at the event were state housing and culture committee chairman Datuk Borhan Aman Shah and MPKL president Mohd Hasry Nor Mohd. Besides the incinerators, building plans include space for religious ceremonies, restrooms and parking that can accommodate three buses, 25 cars and 30 motorcycles. 'There will also be a guardhouse and administrative office, and the facility will be disable- friendly. 'This project has been designed to meet the needs of the district's growing community of Hindus, Buddhists, Christians and Sikhs. 'It will provide a comfortable space for families of the deceased to conduct final rites in an organised manner,' said Mohd Hasry. — By VIJENTHI NAIR
The Star
09-05-2025
- Business
- The Star
Kelantan aims to draw tourists with pull-net fishing
KOTA BARU: Kelantan will revive traditional pull-net fishing, once a common practice among local fishermen, as a new tourism attraction along its beaches. State tourism, culture, arts and heritage committee chairman Datuk Kamaruddin Md Nor said the activity, which requires 20 to 30 people to haul a net along up to a kilometre of shoreline, allows visitors to participate directly rather than remain spectators. 'Pull-net fishing has largely faded from practice. 'We want to revive it not only as a cultural experience but as a healing and recreational activity that brings people together,' he told reporters at the launch of MATTA Fair Kelantan 2025 yesterday, Bernama reported. The initiative is part of the state's Indahnya Kelantan 2025 campaign, which includes 41 tourism events covering heritage, arts, sport, eco and community tourism. Kamaruddin noted the success of monsoon-season surfing introduced at Pantai Kemasin in Bachok last year, which drew more than 3,000 visitors, as a sign of growing interest in niche tourism. The three-day MATTA Fair, which focuses on island destinations and ecotourism, targets RM5mil in sales and is expected to attract around 5,000 visitors. Separately, Kamaruddin said the National Heritage Department is awaiting funding approval from the Finance Ministry to begin repairs on the Sultan Ismail Suspension Bridge in Kuala Krai, which is over a century old and reportedly at risk of collapse. He said the department has completed a full structural assessment and submitted a funding request, expressing hope that restoration work would begin soon.
The Star
07-05-2025
- Business
- The Star
RM5mil in scholarships, loans for 57 students
BAC Education Group founder and managing director S. Raja Singham making a symbolic presentation of scholarships to Surendran. A NON-PROFIT organisation is offering RM5mil worth of scholarships and financial assistance, in partnership with 10 universities and colleges. The partnership, called the HOPE initiative (Harnessing Opportunities for Pathways in Education), will offer 57 financially disadvantaged Malaysian students an opportunity to pursue foundation, diploma and bachelor degree programmes across multiple disciplines. The universities and colleges will offer tuition fee waivers between 50% and 100% to qualified students, while Amma Foundation will provide financial grants or interest-free study loans to finance part of the fees. Universities and colleges participating in Amma Foundation's HOPE Initiative are Asia Pacific University of Innovation and Technology (APU), Brickfields Asia College (BAC), HELP University, IACT College, Mahsa University, Reliance College, Sunway University, Sunway College, University Malaysia of Computer Science & Engineering (UniMy) and Veritas University College. Malaysian students who have completed their Sijil Pelajaran Malaysia (SPM)/O-Level or equivalent and the Sijil Tinggi Persekolahan Malaysia (STPM)/foundation/pre-university programmes may apply for foundation, diploma or bachelor degree programmes in disciplines such as medicine, dentistry, pharmacy, engineering, computer science, cybersecurity, robotics & automation, psychology, law, business, finance, media and communications, early childhood, hotel management and culinary arts. Sunway University head of scholarship and student life Soo Ee Sarn making a symbolic presentation of scholarships to Surendran. Amma Foundation president Datuk Surendran Menon said, 'The cost of quality tertiary education in Malaysia continues to soar and is often beyond the means of many Malaysians. 'Amma Foundation wants to help increase access by creating various routes and opportunities for financially disadvantaged students to achieve their educational goals. 'To reach a wider target audience, we created the HOPE initiative to provide financial aid to students from economically disadvantaged backgrounds and support students with academic resources, mentorship and career development opportunities,' he said. A fundraising dinner raised RM500,000 in pledges for Amma Foundation. Many guests also pledged to support this initiative over the next three years. At its next nationwide roadshow, the foundation will identify and shortlist well-deserving Malaysian students from B40 and M40 households. Applicants must be Malaysian citizens below 25 years old with household incomes within the B40 and M40 income ranges. Applicants must show academic excellence and commitment to the pursuit of higher education and demonstrate leadership potential and strong community engagement.
