Latest news with #TMK
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
MINEX Central Asia 2025 Forum to be held in Tashkent
Basant Ahmed On June 24-25, Tashkent will host the MINEX Central Asia 2025 Forum, one of the largest and most reputable industry events in the region. This forum, dedicated to the global future of critical minerals, is being organized under the auspices of the Ministry of Mining Industry and Geology and the Uzbekistan Technological Metals Complex (TMK). The forum's business agenda will cover the following key areas: – Building resilient supply chains for rare and strategic metals; – Strengthening regional strategic partnerships and fostering investment confidence; – Implementation of ESG standards and sustainable practices in the mining sector; – Innovation, digitalization, and advanced processing technologies; – Scientific collaboration and training of qualified professionals; – Integration into global markets and support for high-tech initiatives with international participation. For the first time, the forum will include the presentation of the Central Asian Mining & Geological Exploration Award, which aims to recognize outstanding achievements, innovations, and contributions to sustainable development in the mining and geological exploration industries of Central Asia. Uzbekistan Technological Metals Complex (TMK) invites all those involved in critical minerals, sustainable supply chains, green transformation, or international cooperation to participate in MINEX Central Asia 2025 Forum. The upcoming forum promises to become a key platform for professional dialogue and partnership. For more information and registration, please visit: read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks
The Star
6 days ago
- Business
- The Star
TMK Chemical first-quarter earnings at RM21mil
PETALING JAYA: TMK Chemical Bhd is staying cautious over its outlook for this year, saying that its performance may be influenced by several key challenges, including the impact of policies from the United States that affect global trade and international relations. The group said these factors are expected to contribute to volatility in the pricing of inorganic chemicals across both domestic and international markets. Releasing its results for the first quarter ended March (1Q25) yesterday, TMK posted a net profit of RM20.8mil on the back of a revenue of RM258mil. TMK provides a range of chemical manufacturing, distribution, storage and logistics services. As the group was only listed on the Main Market of Bursa Malaysia last Dec 12, there was no corresponding year-on-year quarter with which to compare its performance, although the group did report that its total chemical-management segment accounted for 98.6% of the quarterly turnover. Compared with the preceding three months ended Dec 31 (4Q24), net profit saw a 9.2% dip from RM22.9mil, as revenue declined by 12.2%. TMK pointed to lower sales volumes during 1Q25 as primary reason for the decrease. The group's earnings per share for 1Q25 stood at 2.08 sen. In a filing with Bursa Malaysia, TMK said additional challenges going forward include fluctuating market demand and supply conditions, ongoing global geopolitical conflict, recessionary risks, and exchange rate fluctuations involving the US dollar, Singapore dollar, and the Vietnamese dong. 'The group also faces intense market competition. In response, we remain committed to enhancing productivity and strengthening supply chain resilience to better withstand these external, uncontrollable factors,' TMK said in its filing.
West Australian
19-05-2025
- Business
- West Australian
TMK gets set for coal seam gas as ex-Sino exec joins board
Just days after selling its offshore gas interests in WA to focus on the company's Gurvantes XXXV coal seam gas play in Mongolia, TMK Energy has appointed coal seam gas expert and former Sino Gas and Energy managing director Glenn Corrie to its board. Corrie has worked across the energy, private equity and investment management sectors and has a record of leading listed and private companies through major growth and transition phases. As managing director of formerly ASX-listed Sino Gas and Energy, Corrie was largely responsible for stuffing half a billion dollars into shareholders' pockets when that company was taken private in 2018 for that amount by United States private equity group, Lone Star Funds. At the time Sino had developed a string of coal seam gas projects, largely in the Ordos Basin, China's largest gas-producing region. Corrie has also held leadership roles at United Kingdom-based Neo Energy and Ophir Energy, which was also taken out by private interests for about half a billion dollars. He is currently chief executive director and managing director at Perth-based clean hydrogen technology company Hazer Group. Earlier in his career, the petroleum geophysicist spent more than a decade at Shell International, where he worked through commercial and business development roles to become the manager of global LNG strategy and portfolio. 'Securing someone of Glenn's calibre is a significant endorsement of the Gurvantes project. Glenn's knowledge and experience, particularly from his time at Sino Gas & Energy, add to the skills profile of the board.' TMK Energy chairman John Warburton Corrie said TMK was well advanced in running a ruler over Gurvantes, which is strategically located to serve an energy-hungry part of the world. 'I'm looking forward to working alongside the board and management, drawing on prior experience and extensive knowledge of the region to unlock what is clearly a potentially significant discovered resource,' he said . Gurvantes is less than 20 kilometres from the Chinese border and close to existing gas infrastructure in northern China. The location offers the company a great leg-up to supply gas into the world's largest energy market. To free up resources for the final push at Gurvantes and lessen its risk exposure to expensive offshore operations, TMK last week executed a sale agreement to divest its 20 per cent interest in the Talisman Deeps offshore project in Western Australia's Barrow-Dampier sub-basin. Management agreed on a deferred $1 million consideration for the sale, payable when Talisman starts commercial oil or gas production. Meanwhile, TMK's Pilot Well project within Gurvantes has been moving ahead at pace in southern Mongolia. The company has been setting record gas production levels at Pilot Well and most recently announced a 10 per cent boost in its March output to achieve more than 10,000 cubic metres of gas. Pilot Well also pumped out record daily gas volumes in March. Gas slugs and reservoir pressure tests of several of Gurvantes' Lucky Fox wells also offer promising signs that the company's pilot well project is heading towards its critical desorption pressure. TMK also plans to drill an additional pilot production well at Lucky Fox before the end of June, which would help lift its production volumes and potentially add to gas sales under a sales agreement with Jens Energie LLC. The company's contingent resource (2C) of 1214 billion cubic feet (BCF) of gas is Mongolia's biggest. The project currently contains a 5300BCF prospective resource across its total 8400-square-kilometre ground. With Corrie on board and Gurvantes seemingly smoothly progressing towards commercial production, TMK is well poised to take further steps towards the project's commercialisation. With that in hand, the company has now moved strategic partnerships and potential offtake agreements to the top of its to-do list. Is your ASX-listed company doing something interesting? Contact:
Yahoo
28-04-2025
- Business
- Yahoo
TMK Chemical Bhd Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag
Revenue: RM1.30b (flat on FY 2023). Net income: RM111.4m (up 21% from FY 2023). Profit margin: 8.5% (up from 7.0% in FY 2023). EPS: RM0.50. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates. The primary driver behind last 12 months revenue was the Provision of Chemical Management segment contributing a total revenue of RM1.48b (113% of total revenue). Notably, cost of sales worth RM1.06b amounted to 81% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to RM52.6m (40% of total expenses). Explore how TMK's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Chemicals industry in Malaysia. Performance of the Malaysian Chemicals industry. The company's shares are down 2.7% from a week ago. While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on TMK Chemical Bhd's balance sheet health. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Euronews
13-03-2025
- Business
- Euronews
Swiss-Russian claims EU Council ignored Court's sanctions annulment
Swiss-Russian Alexander Pumpyanskiy has told Euronews that his continued inclusion on the EU sanctions list is aberrant and shows the Council is flying against a decision of the EU Courts. Alexander Pumpyanskiy is a son of Russian businessman Dmitry Pumpyanskiy, who until 2022 was the head of Russia's largest pipe manufacturer TMK. He was present at Vladimir Putin's first meeting with businessmen after the start of the full-scale invasion. Meanwhile Alexander, a long-term resident of Geneva, was the Chairman at TMK and Chairman & President at Sinara. Both companies were accused of supporting Russia's war efforts. TMK is a key supplier of manufactured steel to Russian energy giant Gazprom, while Sinara is a prominent Russian investment bank, both allegedly linked to Russia's aggression against Ukraine. The EU has imposed sanctions on nearly 1,700 people and more than 400 entities over Russia's war in Ukraine. In April 2024, the EU's General Court lifted sanctions against the two Russian billionaires Mikhail Fridman and Petr Aven, ruling that the EU had failed to demonstrate their role in undermining Ukraine. However, subsequent EU decisions kept them on the sanctions list under a different justification, classifying them as "leading businesspersons providing substantial revenue" to Russia. He was originally included in sanctions lists as associated with his father, Dmitry Pumpyanskiy, based upon positions he held in his companies, but is now listed under the EU's 2023 amended sanctions criteria, which include "close family members who benefit from listed individuals." The General Court annulled these decisions, noting procedural flaws and insufficient justification since Pumpyanskiy had resigned from his corporate positions, and the Council did not appeal the decision. "Unfortunately the Council didn't execute the decision, and 18 months later I find myself still on the sanctions list," Pumpyanskiy told Euronews, adding, "It's a completely aberrant decision, which I don't understand; effectively, the Council is not implementing the court's decision when it doesn't suit them." "The reason for listing me in 2022 was the association with my father," he said, adding that "it been three years since I left the board of those companies and I won the case, so the only thing left on which to base the decision is the relationship to my father." In the interview, Pumpyanskiy related his experience of sanctions. "The first thing is that your finances are affected. The banks block your accounts. That's the first stage; after that, other problems follow: you're cut from all the basic services that everyone needs, especially mobile phones, domestic internet, insurance, cars, etc., so, bit by bit, daily life became extremely complicated for me." The Council did not respond to a request for comment. European Union countries are in a race against time to convince Hungary to renew the sanctions that the European Union has imposed on more than 2,400 individuals and entities, mainly from Russia, in response to the full-scale invasion of Ukraine. Sanctions need to be renewed every six months by unanimity. The veto has played out throughout the week in meetings between ambassadors. After unsuccessful attempts on Monday and Wednesday, envoys gathered again on Thursday, hoping a breakthrough could be found. But this was not the case. Hungary has demanded several names be removed from the blacklist, several diplomats told Euronews. The names have not been made public. Radio Free Europe previously reported the identity of seven oligarchs, including Mikhail Fridman and Dmitry Mazepin, and Russia's sports minister as part of Hungary's request. The deadlock puts the bloc in a situation of extraordinary suspense: the sanctions are set to expire at 23:59 CET on Saturday and there is no immediate Plan B to replace them. Ambassadors are scheduled to meet on Friday morning, although another attempt before then is not ruled out, given the pace at which the clock is ticking. "We are working full steam on Plan A," said a diplomat with knowledge of the process. "There's still time for Plan A to materialise. I wouldn't like to engage in speculation." "I keep my fingers crossed for a successful outcome," the diplomat added. The saga marks the second time in three months that Viktor Orbán's government has put Brussels on edge by threatening to undo the sanctions regime that the bloc has painstakingly built since February 2022. In January, it took exception to sectoral sections, which cover sweeping bans on oil, coal, technology, finance, luxury goods, transport and broadcasting, and the freezing of €210 billion in assets from Russia's Central Bank. Budapest eventually relented. This time, it set its sights on the blacklist that includes hundreds of military commanders, government officials, oligarchs, propagandists and Wagner Group mercenaries, as well as President Vladimir Putin and his foreign minister, Sergey Lavrov, among others. The blacklist also targets hundreds of Russian companies in the military, banking, transport, energy, diamond, aviation, IT, telecoms and media sectors. Hungary argues that Donald Trump's inauguration as US president and his efforts to strike a peace deal merit a rethink of EU support for Ukraine and EU sanctions on Russia. The position is not shared by other member states, who believe pressure on Moscow should continue for the duration of the war. They also want to pursue a "peace through strength" strategy to reinforce Ukraine's standing in the negotiations and establish the country's armed forces as an effective security guarantee. Orbán disagrees with the "peace through strength" mantra and last week prevented the adoption of joint conclusions on Ukraine at the end of a special EU summit, forcing his fellow leaders to release an attached "extract" signed off by 26. "Hungary has a different strategic approach on Ukraine," said António Costa, the president of the European Council. "That means that Hungary is isolated among the 27. We respect Hungary's position, but it's one out of 27. And 26 are more than one." The stark political divergence played out during the talks among ambassadors, with Hungary managing to block the roll-over on at least three separate occasions this week. The veto comes two days after US and Ukrainian officials announced significant progress in their negotiations, easing tensions between both sides. Ukraine said it was ready to implement an interim 30-day ceasefire provided Russia reciprocated, while the US agreed to immediately lift the suspension on military assistance and intelligence-sharing with Kyiv, which caused consternation in Brussels. "Ball is in Russia's court," said US Secretary of State Marco Rubio. In response, Vladimir Putin asked for certain "nuances" to be clarified, such as how the ceasefire would be monitored on the ground, before committing to the proposal. The European Commission confirmed on Thursday that it was already working on a 17th package of sanctions against Russia.
