Latest news with #RM705
New Straits Times
6 days ago
- Business
- New Straits Times
RM705bil in investments proposed to secure US trade relief
KUALA LUMPUR: Malaysia has offered US$150 billion (RM705 billion) in commitments from private companies and government-linked companies (GLCs) in its recent tariff negotiations with the United States. The commitments include planned purchases in the US semiconductor, aerospace, and data centre sectors, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. This includes Malaysia Aviation Group's (MAG) commitment to purchase Boeing aircraft worth US$19 billion in stages until 2035, he added. "This does not burden the nation's finances. In fact, it contributes to economic strengthening through commercial transactions and private sector investments. "This approach is not just about reducing tariffs, but also about unlocking greater opportunities for the private sector and GLCs to invest and grow. It is a step that will benefit the national economy in the long term," he told the Dewan Rakyat. He was responding to a question from Lim Guan Eng (PH–Bagan), who had asked what steps the government had taken to achieve a 19 per cent tariff reduction and what concessions were offered to the US. Tengku Zafrul said the large-scale investment commitments do not involve government spending and do not impose any additional fiscal burden on the country. "As part of the negotiations, Malaysia has offered tariff reductions on 98.4 per cent of US products — including both industrial and agricultural goods — of which 60.4 per cent are subject to zero duties," he said. He added that the government had introduced several non-tariff measures, including streamlining halal regulations, enhancing labour standards, and improving compliance with intellectual property and environmental rights. He said the ministry had successfully led a strategic negotiation process that resulted in a 19 per cent tariff reduction — aligning Malaysia with the rate imposed by other Asean countries.
Barnama
20-06-2025
- Health
- Barnama
Kelantan Records Decline In Dengue Cases, Wolbachia Mosquito Release Shows Results
KOTA BHARU, June 20 (Bernama) -- The number of dengue fever cases in Kelantan dropped by 12.5 percent, with 875 cases recorded in the first half of this year compared to 1,000 cases during the same period last year, said State Health director Datuk Dr Zaini Hussin. However, he noted that the number of dengue outbreaks rose to 66 from 50 in the same period, although no fatalities were reported. 'This year, there have been no dengue hotspot localities in Kelantan. The current trend remains low, with 17 cases reported in epidemiological week 24. 'Kelantan currently ranks ninth among Malaysian states with the highest number of dengue cases,' he told Bernama at the Gotong-Royong Mega Perangi Aedes 1.0 launch and release of Wolbachia-infected Aedes mosquitoes, officiated by state executive councillor for Local Government, Housing, Health and Environment, Hilmi Abdullah. Dr Zaini also reported that 180,414 premises have been inspected for Aedes mosquito breeding grounds in Kelantan as of mid-June this year, resulting in 501 compounds issued, amounting to RM250,000. He said a total of 73,900 Wolbachia-infected Aedes mosquitoes have been released in Pondok Terusan, Pasir Tumboh, and Kubur Maras, Kota Bharu in 2021, and in Bandar Baru Kubang Kerian today. He noted that no dengue cases have been reported in Pondok Terusan since the release, compared to 134 cases over the previous five years. 'In Kubur Maras, only two dengue cases have been recorded, one each in 2023 and 2024, compared to 81 cases in the five years before 2021,' he said. Dr Zaini added that the Ministry of Health (MOH) has spent an estimated RM705,500 over the past four years on dengue control efforts in Pondok Terusan and Kubur Maras.
The Sun
26-05-2025
- Business
- The Sun
Kobay Technology eyes growth in contract manufacturing, advanced technologies
GEORGETOWN: Main market-listed leading engineering solutions provider, Kobay Technology Bhd's net profit decreased 87.14% to RM705,000 for the third quarter (Q3 ended March 31, 2025 (FY25) from RM5.48 million posted in the same quarter last year due to intensified pricing competition and changes in the overall product mix. Revenue for the quarter stood at RM81.4 million compared to RM87.8 million posted in Q3 FY24 due to a shift in sales towards a lower-margin product mix and subdued market demand for higher-margin products during the quarter. For the nine-month (9M) period, Kobay recorded an 8.2% year-on-year (YoY) increase in revenue, reaching RM257.3 million compared to RM237.8 million in the 9M of FY24. The growth was primarily driven by commendable growth in the manufacturing segment, which saw a 10.9% YoY rise in revenue to RM164.2 million in 9M FY25, up from RM148.1 million in 9M FY24. Higher sales orders across the core mainly propelled this improvement in manufacturing business units, though this was partially offset by a softer demand for higher-margin products and the incubating project, which contributed substantially, resulting in a lower margin recorded. Profit before tax (PBT) for the manufacturing segment rose by 2.7% YoY to RM11.7 million, versus RM11.4 million in 9M FY24. Reflecting the top-line performance, the group's net profit for 9M FY25 saw a modest climb of 0.9% YoY to RM10.2 million vis-à-vis RM10.1 million in 9M FY24. Managing Director and CEO Datuk Seri Koay Hean Eng said the company's 9M FY25 results highlight the group's resilience amid a challenging and volatile operating environment, characterised by tariffs, export controls, and supply chain restrictions that continue to affect the global economy. He said this policy uncertainty complicates investment and manufacturing decisions, potentially impacting long-term capacity planning. On a brighter note, Koay said the global semiconductor industry continues to show vitality, with the Semiconductor Industry Association (SIA) reporting an 18.8% YoY increase in global semiconductor sales to US$167.7 billion in the first quarter of 2025. The World Semiconductor Trade Statistics (WSTS) also projects the industry to reach approximately US$697 billion this year, an 11.2% surge. 'Against this backdrop, the group is actively advancing its diversification efforts into the contract manufacturing (CM) services as part of our broader strategic approach to adapt to market conditions. 'These efforts, combined with investments in advanced manufacturing technologies, are expected to drive long-term growth and stabilise performance on a YoY basis. 'Alongside these efforts, we remain optimistic about the prospects of our property development division. This outlook is fuelled by ongoing infrastructure projects, government initiatives, and a revival in tourism activity, all expected to bolster property markets in key locations such as Langkawi and Penang. 'Moving forward, we intend to time upcoming product launches to align with evolving buyer trends while exercising prudent risk management and maintaining operational discipline. 'Our pharmaceutical and healthcare division expects steady demand in the future, supported by growing health awareness, preventive care trends, and demographic changes such as an ageing population. 'Nevertheless, inflation and rising living costs may weigh on consumer appetite soon. To navigate this, we are expanding our product range, exploring new market segments such as high-margin niche medical products, improving operational efficiency, and strengthening our digital marketing efforts to enhance brand presence. 'As we progress, we will prioritise agility and responsiveness as essential for navigating an increasingly complex and dynamic market landscape. By remaining adaptable and proactive, we aim to manage challenges effectively while building sustainable growth over time,' Koay said.
The Sun
26-05-2025
- Business
- The Sun
SunBiz 26-05- 2025 04:58 PM
GEORGETOWN: Main market-listed leading engineering solutions provider, Kobay Technology Bhd's net profit decreased 87.14% to RM705,000 for the third quarter (Q3 ended March 31, 2025 (FY25) from RM5.48 million posted in the same quarter last year due to intensified pricing competition and changes in the overall product mix. Revenue for the quarter stood at RM81.4 million compared to RM87.8 million posted in Q3 FY24 due to a shift in sales towards a lower-margin product mix and subdued market demand for higher-margin products during the quarter. For the nine-month (9M) period, Kobay recorded an 8.2% year-on-year (YoY) increase in revenue, reaching RM257.3 million compared to RM237.8 million in the 9M of FY24. The growth was primarily driven by commendable growth in the manufacturing segment, which saw a 10.9% YoY rise in revenue to RM164.2 million in 9M FY25, up from RM148.1 million in 9M FY24. Higher sales orders across the core mainly propelled this improvement in manufacturing business units, though this was partially offset by a softer demand for higher-margin products and the incubating project, which contributed substantially, resulting in a lower margin recorded. Profit before tax (PBT) for the manufacturing segment rose by 2.7% YoY to RM11.7 million, versus RM11.4 million in 9M FY24. Reflecting the top-line performance, the group's net profit for 9M FY25 saw a modest climb of 0.9% YoY to RM10.2 million vis-à-vis RM10.1 million in 9M FY24. Managing Director and CEO Datuk Seri Koay Hean Eng said the company's 9M FY25 results highlight the group's resilience amid a challenging and volatile operating environment, characterised by tariffs, export controls, and supply chain restrictions that continue to affect the global economy. He said this policy uncertainty complicates investment and manufacturing decisions, potentially impacting long-term capacity planning. On a brighter note, Koay said the global semiconductor industry continues to show vitality, with the Semiconductor Industry Association (SIA) reporting an 18.8% YoY increase in global semiconductor sales to US$167.7 billion in the first quarter of 2025. The World Semiconductor Trade Statistics (WSTS) also projects the industry to reach approximately US$697 billion this year, an 11.2% surge. 'Against this backdrop, the group is actively advancing its diversification efforts into the contract manufacturing (CM) services as part of our broader strategic approach to adapt to market conditions. 'These efforts, combined with investments in advanced manufacturing technologies, are expected to drive long-term growth and stabilise performance on a YoY basis. 'Alongside these efforts, we remain optimistic about the prospects of our property development division. This outlook is fuelled by ongoing infrastructure projects, government initiatives, and a revival in tourism activity, all expected to bolster property markets in key locations such as Langkawi and Penang. 'Moving forward, we intend to time upcoming product launches to align with evolving buyer trends while exercising prudent risk management and maintaining operational discipline. 'Our pharmaceutical and healthcare division expects steady demand in the future, supported by growing health awareness, preventive care trends, and demographic changes such as an ageing population. 'Nevertheless, inflation and rising living costs may weigh on consumer appetite soon. To navigate this, we are expanding our product range, exploring new market segments such as high-margin niche medical products, improving operational efficiency, and strengthening our digital marketing efforts to enhance brand presence. 'As we progress, we will prioritise agility and responsiveness as essential for navigating an increasingly complex and dynamic market landscape. By remaining adaptable and proactive, we aim to manage challenges effectively while building sustainable growth over time,' Koay said. With investments in advanced manufacturing technologies, Kobay Technology is expected to drive long-term growth and stabilise performance on a YoY basis.
