Latest news with #14thAnnualGeneralMeeting
The Star
19-06-2025
- Business
- The Star
MSM reiterates call for tariff to curb dumping of imported sugar
KUALA LUMPUR: MSM Malaysia Holdings Bhd reiterates its call for a tariff on imported sugar to address the ongoing influx of low-priced Thai sugar into the domestic market. Group chief executive officer Syed Feizal Syed Mohammad said MSM, which produces refined sugar for both industrial and retail consumption, and Central Sugars Refinery Sdn Bhd (CSR) have jointly requested the government to consider imposing a tariff on imported sugar, particularly from Thailand, to safeguard the domestic sugar industry from dumping practices. He pointed out that when Thai sugar was dumped into Vietnam's market, the Vietnamese did not hesitate to impose a 48 per cent tariff. "Our effective production capacity, combined with CSR, is about 2.8 million tonnes per year, and domestic demand is about 1.55 million tonnes per year. "So we have enough capacity to meet the demand, and there is no need to import sugar,' he told a press conference after MSM's 14th Annual General Meeting here today. Syed Feizal emphasised that MSM can compete in terms of scale and efficiency, but stressed that protection is necessary in cases of price dumping. "It is not that we cannot compete. But why do we have to face dumping practices? Liberalising the market sometimes works against the local industry and even the ringgit,' he added. Regarding the revision and expansion of the Sales and Service Tax (SST), Syed Feizal said MSM is engaging with the Royal Malaysian Customs Department and the Ministry of Finance (MOF) to determine whether the five per cent SST applies to raw sugar used in production. He said that while MSM could pass on the cost to industrial users, the retail segment, which is governed by a controlled ceiling price, would be impacted. "What we will not be able to pass on is consumer products, which are on the retail shelves, because these products are under a controlled ceiling price. "So that clarity is required, and we are engaging the government accordingly,' he added. - Bernama
The Sun
19-06-2025
- Business
- The Sun
MSM reiterates call for tariff to curb dumping of imported sugar
KUALA LUMPUR: MSM Malaysia Holdings Bhd reiterates its call for a tariff on imported sugar to address the ongoing influx of low-priced Thai sugar into the domestic market. Group chief executive officer Syed Feizal Syed Mohammad said MSM, which produces refined sugar for both industrial and retail consumption, and Central Sugars Refinery Sdn Bhd (CSR) have jointly requested the government to consider imposing a tariff on imported sugar, particularly from Thailand, to safeguard the domestic sugar industry from dumping practices. He pointed out that when Thai sugar was dumped into Vietnam's market, the Vietnamese did not hesitate to impose a 48 per cent tariff. 'Our effective production capacity, combined with CSR, is about 2.8 million tonnes per year, and domestic demand is about 1.55 million tonnes per year. 'So we have enough capacity to meet the demand, and there is no need to import sugar,' he told a press conference after MSM's 14th Annual General Meeting here today. Syed Feizal emphasised that MSM can compete in terms of scale and efficiency, but stressed that protection is necessary in cases of price dumping. 'It is not that we cannot compete. But why do we have to face dumping practices? Liberalising the market sometimes works against the local industry and even the ringgit,' he added. Regarding the revision and expansion of the Sales and Service Tax (SST), Syed Feizal said MSM is engaging with the Royal Malaysian Customs Department and the Ministry of Finance (MOF) to determine whether the five per cent SST applies to raw sugar used in production. He said that while MSM could pass on the cost to industrial users, the retail segment, which is governed by a controlled ceiling price, would be impacted. 'What we will not be able to pass on is consumer products, which are on the retail shelves, because these products are under a controlled ceiling price. 'So that clarity is required, and we are engaging the government accordingly,' he added.
News18
13-05-2025
- Business
- News18
Dividend Stock: BSE 500 IT Share Fixes Record Date For 175% Final Dividend Of FY25
Last Updated: Happiest Minds Technologies reported that its total income for the Q4 FY25 grew 28 per cent YoY to Rs 57,052 lakh. Dividend Stock: Happiest Minds Technologies has fixed the record day of Friday, July 18, 2025 for the final dividend of Rs 3.50 per equity share for the financial year 2024-25. It is subject to the approval of the shareholders at the ensuing 14th Annual General Meeting (AGM) of the company. Record date helps for r determining the list of equity shareholders in the Register of Members of the Company and the beneficial owners in the records of the Depositories as on the Record Date who will be entitled to the Final dividend declared for FY 2024-25. Happiest Minds Q4 Results Happiest Minds Technologies reported that its total income for the Q4 FY25 grew 28 per cent YoY to Rs 57,052 lakh, with EBITDA up 19.3 per cent to Rs 10,984 lakhs. EBITDA declined 6% QoQ on account of an unfortunate bad debt of Rs 1,204 lakhs while growing 1.5 per cent YoY. PAT stood at Rs 3,401 lakhs. Looking at the year ended March 31, 2025, operating revenues at $ 243.36 million, registering a growth of 24.2 per cent. Total income of Rs 216,222 lakhs with a jump of 26.4 per cent. EBITDA of Rs 46,224 lakhs, 21.4 per cent. PAT for the year ended March 31, 2025 stood at Rs 18,466 lakhs with a gain of 8.5% from the previous fiscal year. Adjusted EPS stood at Rs 16.37. digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. It is done this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/ augmented reality, etc. First Published: May 13, 2025, 12:36 IST
