
Encorp hopes better financial year 2025
Chairman Mohd Yusmadi Mohd Yusoff said the improvement will be driven by new developments in Kuantan, as well as the company's existing foothold in Johor's trade zone.
'If this year we can chart anything around RM10 million, I'd be more than happy. For me, change has to be gradual,' he told SunBiz in an exclusive interview.
Appointed on Sept 29, 2023, Mohd Yusmadi – a lawyer and former senator – now leads the company that is 62% owned by Felda Investment Corp Sdn Bhd.
'As Felda's builder, with projects stretching from Perlis to Sabah and even abroad, we must leverage this affiliation. Felda is a significant group. At the same time, we need to adopt AI and technology to remain competitive.'
Mohd Yusmadi said Encorp stands to benefit from the upcoming Johor-Singapore Special Economic Zone given its existing landbank in the area.
'I want Encorp to focus more on the economic zone. We still have a few units left over there, but that can be a good start. Compared to other developers, we are not a fresh or new player there. We already have one leg there.'
Encorp's landbank in Johor includes the Encorp Marina Puteri Harbour development, which occupies about 3.3 acres of prime waterfront land along the Straits of Johor .
Mohd Yusmadi said the group's five-star hotel project in Kuantan, developed in partnership with Touch Group – with a gross development value of over RM500 million – is already progressing.
'In Balau we are pushing for a five-star hotel and serviced apartments with Touch Group. We are now in discussions with a few potential partners,' he disclosed.
Encorp has faced governance-related issues and operational setbacks in recent years.
Mohd Yusmadi said there is no compromise when it comes to integrity and governance under his leadership, .
'I say it, I practise it, and I show it. That's why last year, as many people were informed, yes, we did have governance issues. But I want to send a message to the media, investor, and our shareholders – under my leadership, governance is a priority.
'Maybe because I'm a former politician, I understand the role of government.'
From a capital appreciation perspective, Mohd Yusmadi said Encorp had faced several governance-related challenges, which the leadership team has worked to address through firm top-level commitment. 'For example, the issue of uncollected tenancies involving millions of ringgit.'
He added that governance was his first transformation strategy upon taking the helm, and the impact is now becoming evident.
'For the first time since 2016, Encorp turned a profit, as shown in last year's financial report. We even gave bonuses to both executive and non-executive staff.'
Encorp posted its first annual profit since 2016 in FY24, recording RM3.4 million in net profit, compared with a net loss of RM8.5 million in the previous year.
The improved performance was attributed to higher gross margins, with RM79.3 million gross profit on RM104 million revenue; a significant reduction in cost of sales, down to RM24.7 million from RM57.2 million in FY23; and better control of finance costs coupled with the recovery of longstanding receivables.
The group posted a profit before tax of RM6.1 million despite a revenue decline to RM104 million from RM129.2 million in FY23, mainly due to weaker performance in the property development segment.
'Maybe it's my lack of property background that became an advantage. I came in with a fresh perspective. As a senior lawyer who often troubleshoots corporate issues, I bring a strong problem-solving mindset,' Mohd Yusmadi said.
He noted that Encorp retained all its staff throughout the Covid-19 period. 'Our HR department confirmed that we didn't let go of anyone during the pandemic. That sends a strong signal to the public that Encorp is a stable and promising company.'

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The Star
20 hours ago
- The Star
Crowds flock to final day of Star Education Fair in JB
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Universiti Tenaga Nasional (Uniten) Computing and Informatics senior lecturer Dr Lim Kok Cheng said that among the courses that attracted the most attention during the fair was its newly introduced Master's in Artificial Intelligence. 'We've also launched a Master's in Computer Science majoring in AI, and both programmes started their intake this year. 'These are among the most talked-about programmes throughout the two-day fair,' he added. Dr Lim said visitors, especially working professionals and tech-savvy students, were intrigued by the AI offerings and asked detailed questions about the course structure and career prospects. Management and Science University (MSU) academic councillor and lecturer Adly Zaihardi Muhamad Said said the university received strong interest from both working adults and fresh graduates during the fair. 'The response has been encouraging. Many working adults looking to further their studies dropped by to enquire about postgraduate options, especially master's and PhD programmes,' he said when met at the fair at the Persada International Convention Centre here. He said MSU offers over 140 programmes, with more than 20 at the postgraduate level, including those delivered in a blended format that combines monthly physical classes with online learning. Lincoln University College marketing executive P. Harshinni said the institution offers over 160 programmes ranging from foundation to PhD levels. She added that the university's Master of Business Administration (MBA) programme is currently one of the most popular, especially among working adults. 'We're offering the full MBA course at RM10,000, which can be completed within one to two years via online distance learning. "The offer is valid until the end of this year,' she said. Akademi Laut Malaysia (Alam) business and management faculty head Dr A. Ramesh Babu said the academy received a fair number of enquiries from visitors interested in maritime-related careers. 'Alam offers seven diploma programmes tailored for both seafaring and shore-based careers. "Students who are keen to work on board ships can opt for diplomas in Marine Engineering, Nautical Studies or Marine Electro-Technology, while those interested in shore-based roles can choose from Maritime Business Administration, Maritime Management, Maritime Services, or Maritime Transportation and Logistics. 'We also offer more than 100 short courses tailored for the marine industry, ranging from five days to six months,' he said. Ramesh said demand for these short courses has increased, with the Diploma in Maritime Transportation and Logistics and Diploma in Maritime Management being the most sought-after. Universiti Tunku Abdul Rahman (UTAR) programme promotion division assistant manager Chin Kok Keong said the university offers a wide range of programmes, from foundation to postgraduate studies. 'We have courses in medical studies, engineering, IT, arts and social sciences. There's a good balance across faculties, and each programme has its own unique teaching style,' he said. He added that UTAR offers achievement-based scholarships to eligible SPM and STPM school-leavers. 'Our university is also one of the most affordable, and our graduates have a marketability rate of between 95% and 97%,' he said. Universiti Malaya marketing centre assistant registrar Mohd Hazyq Askyel Mohd Fuad said most visitors to their booth were interested in the university's foundation and undergraduate programmes. 'Most enquiries were about our foundation and bachelor's degree programmes. "We're hoping for a larger crowd as the foundation application deadline is closing in about a week,' he said. He added that Universiti Malaya offers on-the-spot offer letters and direct intake, which many students were not aware of prior to the fair. 'We managed to issue several immediate offer letters today, and it was a pleasant surprise for many visitors,' he said. The fair, which is being till Sunday (July 6), runs between 11am and 6pm at the Persada International Convention Centre here. The Star Education Fair, now in its 38th year, is one of the country's pioneer education exhibitions. For more details on the Star Education Fair, visit or email edufair@


New Straits Times
a day ago
- New Straits Times
SST and new electricity tariffs: Relief measures to ease transition
PUTRAJAYA: As Malaysia enters the second half of 2025, the government's fiscal recalibration through an expanded Sales and Service Tax (SST) and revised electricity tariffs mark a strategic move to strengthen national finances while prioritising the welfare of the rakyat. Despite early concerns over rising living costs, the rollout includes various measures designed to cushion the impact, especially for households and small businesses. From tax exemptions on personal care services such as haircuts, facials and manicures, to anticipated cash assistance and a more progressive electricity tariff system where higher usage brackets are charged more, the government appears to be listening and responding to public sentiment. For the average Malaysian, the mood is gradually shifting from anxiety to cautious optimism, as support mechanisms are in place to help those most in need. SST expansion with built-in relief The government has expanded the SST to cover more services and selected imported goods as part of efforts to boost revenue. However, following engagement sessions and public feedback, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim recently announced tax exemptions for four imported fruits commonly found on Malaysian dining tables - apples, oranges, mandarin oranges and dates. He also raised the SST registration threshold for leasing and financial services from RM500,000 to RM1 million, offering relief to smaller businesses. Meanwhile, services such as haircuts, facials and manicures have been excluded from the expanded SST, a modest but welcome move that helps maintain the affordability of everyday self-care. "This move helps maintain the affordability of key food items and supports household purchasing power," said Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid. Another key policy change taking effect this month is the revised electricity tariff, which affects more than 23.6 million domestic users in Peninsular Malaysia. The new rates, effective from July 1, 2025 until Dec 31, 2027, fall under the Incentive-Based Regulation (IBR) framework under Section 26 of the Electricity Supply Act 1990. The Energy Commission has set the average base tariff rate at 45.40 sen per kilowatt-hour, slightly lower than the 45.62 sen approved in December 2024. This adjustment is expected to reduce overall electricity costs while promoting energy-saving habits, particularly during off-peak hours. External challenges remain Despite domestic reforms, global uncertainties continue to weigh on Malaysia's economic outlook. Mohd Afzanizam warned that the upcoming expiry of the United States' temporary suspension of reciprocal tariffs on July 9 could increase pressure on Malaysian exports if Washington reimposes steep duties. However, the administration of US President Donald Trump has signalled the possibility of extending the suspension, a move that could offer short-term relief to Malaysian exporters, particularly in the electrical and electronics, palm oil, rubber and machinery sectors. Economists say such an extension would reflect a more measured US trade stance and could help stabilise global market sentiment, which is a much-needed breather for emerging economies navigating inflation, currency volatility and geopolitical risks. At the same time, ongoing tensions in the Middle East continue to fuel oil price fluctuations, adding pressure to Malaysia's fuel subsidy rationalisation efforts. Global price volatility could increase consumer costs and complicate the implementation of subsidy reforms. Relief measures and stronger fiscal footing While the government's fiscal reforms are geared toward long-term stability, public sentiment remains sensitive to immediate cost-of-living issues. Uncertainty still lingers over the implementation of RON95 fuel subsidy rationalisation and the full impact of SST and electricity adjustments on consumer behaviour. Nevertheless, there are signs of relief on the horizon. Mohd Afzanizam noted that there may be room for monetary easing, including a potential 25 basis points cut in the overnight policy rate (OPR) as early as this month (July 9). In a separate move, Bank Negara Malaysia's decision in May to reduce the statutory reserve requirement by 100 basis points had already injected about RM19 billion into the banking system, providing liquidity to support economic activity. "On the fiscal front, the government's disciplined approach appears to be yielding results. The fiscal deficit narrowed to RM22 billion or 4.5 per cent of gross domestic product in the first quarter of 2025, down from RM26 billion or 5.7 per cent in the same period last year. "Savings from the diesel subsidy rationalisation and SST reforms introduced in 2024 have opened up fiscal space, enabling the government to increase targeted assistance. The combined allocation for Sumbangan Tunai Rahmah and Sumbangan Asas Rahmah has been raised to RM13 billion this year from RM10 billion in 2024. "This careful balancing act is supporting investor confidence and helping to preserve Malaysia's sovereign credit ratings," he said. International rating agencies like Moody's, S&P, and Fitch are expected to maintain Malaysia's current sovereign ratings, a crucial factor in attracting long-term foreign investment. As Malaysians adjust to this new fiscal environment, the coming months will test not only household resilience but also the government's ability to sustain reforms while protecting the wellbeing of the rakyat.

Barnama
a day ago
- Barnama
SST And New Electricity Tariffs: Relief Measures To Ease Transition
Despite early concerns over rising living costs, the rollout includes various measures designed to cushion the impact, especially for households and small businesses. PUTRAJAYA, July 6 (Bernama) -- As Malaysia enters the second half of 2025, the government's fiscal recalibration through an expanded Sales and Service Tax (SST) and revised electricity tariffs mark a strategic move to strengthen national finances while prioritising the welfare of the rakyat. For the average Malaysian, the mood is gradually shifting from anxiety to cautious optimism, as support mechanisms are in place to help those most in need. From tax exemptions on personal care services such as haircuts, facials and manicures, to anticipated cash assistance and a more progressive electricity tariff system where higher usage brackets are charged more, the government appears to be listening and responding to public sentiment. He also raised the SST registration threshold for leasing and financial services from RM500,000 to RM1 million, offering relief to smaller businesses. Meanwhile, services such as haircuts, facials and manicures have been excluded from the expanded SST, a modest but welcome move that helps maintain the affordability of everyday self-care. The government has expanded the SST to cover more services and selected imported goods as part of efforts to boost revenue. However, following engagement sessions and public feedback, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim recently announced tax exemptions for four imported fruits commonly found on Malaysian dining tables - apples, oranges, mandarin oranges and dates. 'This move helps maintain the affordability of key food items and supports household purchasing power,' said Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid. Another key policy change taking effect this month is the revised electricity tariff, which affects more than 23.6 million domestic users in Peninsular Malaysia. The new rates, effective from July 1, 2025 until Dec 31, 2027, fall under the Incentive-Based Regulation (IBR) framework under Section 26 of the Electricity Supply Act 1990. The Energy Commission has set the average base tariff rate at 45.40 sen per kilowatt-hour, slightly lower than the 45.62 sen approved in December 2024. This adjustment is expected to reduce overall electricity costs while promoting energy-saving habits, particularly during off-peak hours. External challenges remain Despite domestic reforms, global uncertainties continue to weigh on Malaysia's economic outlook. Mohd Afzanizam warned that the upcoming expiry of the United States' temporary suspension of reciprocal tariffs on July 9 could increase pressure on Malaysian exports if Washington reimposes steep duties. However, the administration of US President Donald Trump has signalled the possibility of extending the suspension, a move that could offer short-term relief to Malaysian exporters, particularly in the electrical and electronics, palm oil, rubber and machinery sectors. Economists say such an extension would reflect a more measured US trade stance and could help stabilise global market sentiment, which is a much-needed breather for emerging economies navigating inflation, currency volatility and geopolitical risks. At the same time, ongoing tensions in the Middle East continue to fuel oil price fluctuations, adding pressure to Malaysia's fuel subsidy rationalisation efforts. Global price volatility could increase consumer costs and complicate the implementation of subsidy reforms. Relief measures and stronger fiscal footing While the government's fiscal reforms are geared toward long-term stability, public sentiment remains sensitive to immediate cost-of-living issues. Uncertainty still lingers over the implementation of RON95 fuel subsidy rationalisation and the full impact of SST and electricity adjustments on consumer behaviour. Nevertheless, there are signs of relief on the horizon. Mohd Afzanizam noted that there may be room for monetary easing, including a potential 25 basis points cut in the overnight policy rate (OPR) as early as this month (July 9). In a separate move, Bank Negara Malaysia's decision in May to reduce the statutory reserve requirement by 100 basis points had already injected about RM19 billion into the banking system, providing liquidity to support economic activity. 'On the fiscal front, the government's disciplined approach appears to be yielding results. The fiscal deficit narrowed to RM22 billion or 4.5 per cent of gross domestic product in the first quarter of 2025, down from RM26 billion or 5.7 per cent in the same period last year. 'Savings from the diesel subsidy rationalisation and SST reforms introduced in 2024 have opened up fiscal space, enabling the government to increase targeted assistance. The combined allocation for Sumbangan Tunai Rahmah and Sumbangan Asas Rahmah has been raised to RM13 billion this year from RM10 billion in 2024. 'This careful balancing act is supporting investor confidence and helping to preserve Malaysia's sovereign credit ratings,' he said. International rating agencies like Moody's, S&P, and Fitch are expected to maintain Malaysia's current sovereign ratings, a crucial factor in attracting long-term foreign investment. As Malaysians adjust to this new fiscal environment, the coming months will test not only household resilience but also the government's ability to sustain reforms while protecting the wellbeing of the rakyat. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial