Latest news with #RM6.3mil
The Star
7 days ago
- Business
- The Star
OSK's momentum to rebound across key segments
HLIB Research said on the current trajectory, the capital financing segment is poised to deliver record-high earnings in financial year 2025. PETALING JAYA: OSK Holdings Bhd 's performance is expected to accelerate meaningfully in the coming quarters, driven by broad-based recovery and strong order pipelines across its core businesses. Hong Leong Investment Bank (HLIB) Research said OSK reported a core profit after tax and minority interests (patami) of RM125.4mil in the first quarter of financial year 2025 (1Q25). The research house noted that the results were within its expectation, making up 22% of its full-year forecast. On a year-on-year (y-o-y) basis, OSK's pre-tax profit was flattish at minus 0.6%. HLIB Research said the lower contribution from the property development segment attributed to lower profit margin from existing projects compared to 1Q24. 'The decline in industries was due to operating expenses tied to newly acquired factories in Johor Baru, which reported pre-tax profit of minus RM6.3mil. 'Excluding the losses, the segment would have recorded a pre-tax profit improvement of 18.6%, in tandem with the higher sales volume. 'Overall, core patami increased slightly by 2.1% due to lower taxes,' the research house said in a report yesterday. The group's capital financing division recorded 1Q25 pre-tax profit of RM30.9mil, which was up by 18.2% y-o-y. The positive performance was supported by the strong loan growth across all segments from conventional, civil servant and Australia. 'Loan portfolio continues to show robust momentum, growing sizeably to RM2.43bil as at March 31, 2025, which was up by 11.3% quarter-on-quarter (q-o-q). 'The q-o-q loan growth was supported by all segments: conventional (up 11.3%), civil servant financing ( up 4.8%), Australia (up 11.3%),' HLIB Research said. The research house said on the current trajectory, the capital financing segment is poised to deliver record-high earnings in financial year 2025 and is likely to emerge as a key earnings driver, on par with the group's property segment. Meanwhile, property sales were impacted in 1Q25 as both Chinese New Year and Hari Raya fell within the same period, resulting in fewer working days and temporary disruption in transaction activity. 'That said, momentum is expected to rebound, supported by a robust portfolio of ongoing projects and an active launch pipeline slated for the coming quarters,' HLIB Research said.
The Star
21-05-2025
- The Star
Police dismantle drug syndicate in Bukit Mertajam
BUKIT MERTAJAM: Police have dismantled a drug syndicate following the arrest of six suspects and the seizure of 37.8kg of methylenedioxy-N-hydroxy-N-methylamphetamine (MDMA) worth RM6.3mil. State police chief Comm Datuk Hamzah Ahmad said all suspects, who are locals, were apprehended during a raid by the state Narcotic Criminal Investigation Department (NCID) between 2pm on Tuesday (May 20) and 4.30am on Wednesday (May 21). "The suspects, aged between 33 and 41, were detained at several locations in George Town," he said during a press conference at the Central Seberang Perai police headquarters on Wednesday (May 21). Comm Hamzah said police, based on intelligence work, detained a suspicious man during the first raid at a roadside in George Town. Despite initially resisting arrest, the suspect led police to a public car park in George Town, where they discovered drugs packaged in a car. "In the car, police found two zippered cloth bags containing 532 purple and gold packets filled with MDMA powder, weighing about 18,420g. "Police also found five boxes containing 777 plastic packets of various colours filled with MDMA powder, weighing 19,380g," he said. Comm Hamzah said police also confiscated a plastic package containing paper and plastic bags intended for couriering the drugs to their customers. Following the discovery, police arrested another five suspects in different locations in George Town. He said police believe the syndicate used the car to store the drugs. During the raid, police confiscated seven vehicles worth RM297,000, jewellery worth RM1,500, and RM2,550 in cash. Police believe the syndicate has been active since early this year, and the seized drugs could be used 800,000 times. "We also believe the drugs were meant for customers in entertainment centres in Penang," he said. Comm Hamzah said five of the suspects tested negative for Benzo and ketamine. The suspects also have prior criminal and drug records. They have been remanded for seven days from May 21 to May 27 to assist in investigations. The case is being investigated under Section 39B of the Dangerous Drugs Act 1952, which provides for the death sentence or life imprisonment upon conviction.
