Latest news with #RM66
The Sun
6 days ago
- Business
- The Sun
Johor rolls out new housing plan for low income group outside eKasih system
ISKANDAR PUTERI: The newly introduced Rumah Prihatin Johor (RPJ) housing initiative to help low-income individuals in rural areas own homes, is expected to begin construction in August. State Housing and Local Government Committee chairman Datuk Mohd Jafni Md Shukor said RPJ is a state government initiative to fill the gap in housing aid for those who are excluded or not listed under the e-Kasih database, but still fall under the low-income category. He said applications are now open for 500 units to be developed with an allocation of RM15 million, offering two categories of homes priced at RM86,000 for three-bedroom units and RM66,000 for two-bedroom units. 'These houses will be built on privately owned land and are expected to be completed within seven months. 'This is one of the fastest and most effective housing programmes ever implemented in Johor, with direct impact on the people,' he told a press conference here today. Mohd Jafni said the state government is also providing a subsidy of RM30,000 and successful applicants are only required to pay RM36,000 or RM56,000, depending on the type of home. He said the RPJ eligibility conditions have also been improved, including considering applicants who share land with family and have not received any form of housing assistance from any agency. Meanwhile, under the Rumah Kasih Johor (RKJ) initiative, construction of 500 housing units has been ongoing since 2023 and will continue until 2026 across all 56 state constituencies, with an allocation of over RM67.5 million. So far, 50 units have been completed and handed over to recipients, while 120 units are under construction and 165 units are in the implementation stage, he said. Mohd Jafni said the RPJ and RKJ initiatives were implemented with strong cooperation from the Johor Housing Development Corporation (PKPJ), local authorities, district offices and elected representatives. He also reminded the public that the state government has not appointed any agents or middlemen for applications involving the Johor Affordable Housing (RMMJ) scheme, and all applications must be made through the 'erumah' portal.
New Straits Times
29-05-2025
- Business
- New Straits Times
Genting Q1 profit on track despite one-off charges
KUALA LUMPUR: Genting Plantations Bhd's core net profit of RM121 million in the first quarter (Q1) 2025 met expectations, accounting for 39 per cent and 38 per cent of CIMB Securities Research's and Bloomberg consensus full-year estimates, respectively. The research house considers this to be in line with expectations, as it expects weaker earnings in the coming quarters for Genting Plantation due to lower crude palm oil (CPO) prices and higher production costs. Reported net profit, however, the firm said, came in significantly lower at RM61 million, mainly due to RM72 million in impairment charges. "Of this, RM66 million was related to the provision for potential income loss from some parts of its Indonesian planted estates that have been demarcated as forest land by the Indonesian government under a recent regulation. "No dividend was declared in Q1 2025, in line with expectations," it said. Meanwhile, CIMB Securities said the negative surprise this quarter was a RM66 million impairment on Genting Plantation's Indonesian bearer plants, arising from the likely reclassification of some parts of its mature oil palm estates as forest land by the Indonesian government. The firm has maintained its Hold rating but lowered its target price to RM5.28 per share, applying a higher 20 per cent discount (from 15 per cent) to its sum-of-parts (SOP) valuation to reflect growing regulatory risks in Indonesia. "The higher discount reflects increasing regulatory risks in Indonesia, where 57 per cent of Genting Plantation's planted estates are located. "It also captures our earlier concerns about Genting Plantation's proposed RM676 million acquisition of two land parcels (totalling 152 ha) in Jakarta for property development — a segment in which the company has no prior track record in Indonesia, posing execution risks," it said. On a positive note, CIMB Securities said Genting Plantation recently completed the sale of 213.9 hectares of land in Mukim Paya Rumput, Melaka, to Scientex for RM333.8 million. The transaction, completed on 21 May, will allow Genting Plantation to recognise a one-off net gain of RM284.9 million, it added.
Yahoo
05-04-2025
- Yahoo
Syndicates illegally mining gold in Pahang, Kelantan protected forests, says Forestry Dept chief
KUALA LUMPUR, April 5 — Illegal gold miners are reportedly targeting remote forest reserves in Malaysia's east coast, using cover activities like agriculture and other mineral extraction to avoid detection. Sinar Harian today reported Forestry Department Director-General Zahari Ibrahim as saying that these syndicates often conduct reconnaissance to identify gold-rich spots before bringing in heavy machinery and mining equipment. 'Once an area is identified, the syndicates bring in machinery including backhoes, excavators, four-wheel-drive vehicles, as well as equipment such as sluice boxes, water pumps and generators,' he was quoted as saying. 'These operations are also carried out with the involvement of foreign workers'. The syndicates were also said to sometimes include former licensed miners and employ 'tontos' — lookouts paid to monitor enforcement officers and delay raids. Some individuals reportedly also operate on a smaller scale using traditional panning methods based on personal knowledge of mineral hotspots. Zahari was quoted as saying that to date, the department has seized equipment worth RM66,500, with most cases concentrated in Pahang and Kelantan. Illegal operations were said to be detected through satellite imaging and on-ground patrols, with offenders often clearing large forest areas and using chemicals that harm the soil and biodiversity. He reportedly said that each hectare of forest reserve lost is valued at around RM5 million due to environmental and economic impacts, including damage to ecosystems and water sources. Zahari reportedly urged the public to respect protected forests, warning that illegal mining leads to long-term national losses and will be met with firm enforcement.
