Latest news with #Hartalega
Free Malaysia Today
08-07-2025
- Free Malaysia Today
Salesman charged with fraud over sale of gloves worth RM5.1mil
P Dinesh allegedly deceived a person into believing 150,000 non-existent boxes of gloves were already in stock at Hartalega Sdn Bhd's warehouse. (Bernama pic) PETALING JAYA : A salesman pleaded not guilty in the Kuala Lumpur sessions court today to a charge of fraud involving the sale and purchase of gloves worth a total of RM5.1 million five years ago. P Dinesh, 36, together with Aspen Broadway Sdn Bhd director R Gopinatan Pillai, allegedly deceived a person into believing 150,000 non-existent boxes of Coats Nitrile Examination gloves were already in stock at Hartalega Sdn Bhd's warehouse. The victim transferred RM5.1 million into a bank account belonging to a law firm appointed by Aspen Broadway. The offence was allegedly committed at a condominium in Jalan Tun Ismail, Kuala Lumpur, on Nov 9, 2020, under Section 420 of the Penal Code, which provides up to 10 years' imprisonment, whipping and a fine if convicted. Judge Azrul Darus allowed Dinesh bail of RM100,000 with one surety and also ordered him to surrender his passport to the court and to report to a nearby police station once a month. Deputy public prosecutor Chow Siang Kong appeared for the prosecution while lawyer Akmal Taufik represented Dinesh. The court set July 28 for mention. On Feb 10, Gopinatan was charged with one count of fraud and seven counts of money laundering involving the sale and purchase of gloves.
The Sun
08-07-2025
- The Sun
Salesman pleads not guilty to RM5.1m glove fraud in Kuala Lumpur
KUALA LUMPUR: A salesman has denied allegations of cheating in a RM5.1 million glove sale fraud case dating back five years. P. Dinesh, 36, was charged alongside the director of Aspen Broadway Sdn Bhd for deceiving a buyer into believing 150,000 boxes of Hartalega gloves were available in stock. The victim transferred RM5.1 million through a law firm after being told the gloves were stored at Hartalega's warehouse. However, the stock never existed. The transaction was processed via a bank account linked to a law firm appointed by Aspen Broadway. The alleged offence took place at a condominium in Jalan Tun Ismail on November 9, 2020. Dinesh was charged under Section 420 of the Penal Code, which carries a maximum penalty of 10 years' jail, whipping, or a fine if convicted. Sessions Court Judge Azrul Darus granted Dinesh bail at RM100,000 with one surety. He must surrender his passport and report monthly to the police. The next mention is set for July 28. Deputy Public Prosecutor Chow Siang Kong led the prosecution, while lawyer Mohd Akmal Mohd Taufik represented Dinesh. Earlier this year, Aspen Broadway's director, R. Gopinatan Pillai, faced similar fraud and money laundering charges. - Bernama
New Straits Times
08-07-2025
- New Straits Times
Assistant to company director charged with cheating over RM5.1 million glove deal
KUALA LUMPUR: An assistant to a company director claimed trial at the Sessions Court today (July 7) to a charge of cheating a businesswoman out of RM5.1 million from purported sales of non-existent nitrile examination gloves five years ago. P. Dinesh, 36, entered his plea after the charge was read out to him before judge Azrul Darus. He was accused of committing the offence with company director R. Gopinathan Pillai, who had been charged at another Sessions Court in February. The victim, who owns Atlas Holdings, was allegedly deceived by Dinesh into believing that 150,000 boxes of Coats Nitrile Examination Gloves under the Hartalega brand were stored at the Hartalega Sdn Bhd warehouse, ready for sale and delivery by Gopinathan's company, Aspen Broadway. However, the gloves did not exist, and he allegedly induced the victim to transfer RM5.1 million through a law firm to a bank account of another law firm appointed by Aspen Broadway — a transaction the victim would not have made had he known he was being deceived. The offence allegedly occurred at about 11am at a condominium in Jalan Tun Ismail on Nov 9, 2020. The offence under Section 420 of the Penal Code read with Section 34 carries a jail term of not less than one year and not exceeding 10 years, whipping and a fine upon conviction. Deputy public prosecutor Chow Siang Kong proposed a RM500,000 bail with two sureties bail. He also applied for the accused to surrender his passport to the court and report to the police station monthly as additional conditions. However, lawyer Mohd Akmal Mohd Taufik argued for a lower bail, describing the prosecution's suggested sum as excessive and punitive. He said his client, who earns RM1,500 as a salesman, was supporting his wife, a school-going child and a sickly mother. "My client has been cooperative throughout the investigation. He has also promised to attend all court proceedings," he said. The judge granted bail at RM100,000 with one surety and allowed the additional conditions. July 28 was set for document submission. In February this year, Gopinathan, a company director, claimed trial to one charge of cheating and seven counts of money laundering involving RM5.1 million in connection with the purported sale of non-existent nitrile examination gloves five years ago. The 60-year-old was granted a RM280,000 bail with two sureties.
Yahoo
16-06-2025
- Business
- Yahoo
Hartalega Holdings Berhad (KLSE:HARTA) Will Want To Turn Around Its Return Trends
There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at Hartalega Holdings Berhad (KLSE:HARTA), it didn't seem to tick all of these boxes. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Hartalega Holdings Berhad is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.011 = RM50m ÷ (RM4.7b - RM240m) (Based on the trailing twelve months to March 2025). Therefore, Hartalega Holdings Berhad has an ROCE of 1.1%. Ultimately, that's a low return and it under-performs the Medical Equipment industry average of 8.1%. Check out our latest analysis for Hartalega Holdings Berhad Above you can see how the current ROCE for Hartalega Holdings Berhad compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Hartalega Holdings Berhad . On the surface, the trend of ROCE at Hartalega Holdings Berhad doesn't inspire confidence. To be more specific, ROCE has fallen from 19% over the last five years. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run. Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Hartalega Holdings Berhad. Despite these promising trends, the stock has collapsed 82% over the last five years, so there could be other factors hurting the company's prospects. Therefore, we'd suggest researching the stock further to uncover more about the business. If you're still interested in Hartalega Holdings Berhad it's worth checking out our to see if it's trading at an attractive price in other respects. While Hartalega Holdings Berhad may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
With 47% ownership, Hartalega Holdings Berhad (KLSE:HARTA) insiders have a lot riding on the company's future
Hartalega Holdings Berhad's significant insider ownership suggests inherent interests in company's expansion 56% of the business is held by the top 3 shareholders Institutions own 21% of Hartalega Holdings Berhad We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. A look at the shareholders of Hartalega Holdings Berhad (KLSE:HARTA) can tell us which group is most powerful. We can see that individual insiders own the lion's share in the company with 47% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company. So it follows, every decision made by insiders of Hartalega Holdings Berhad regarding the company's future would be crucial to them. Let's delve deeper into each type of owner of Hartalega Holdings Berhad, beginning with the chart below. View our latest analysis for Hartalega Holdings Berhad Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. We can see that Hartalega Holdings Berhad does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Hartalega Holdings Berhad, (below). Of course, keep in mind that there are other factors to consider, too. Hartalega Holdings Berhad is not owned by hedge funds. From our data, we infer that the largest shareholder is Kam Kuan (who also holds the title of Top Key Executive) with 40% of shares outstanding. Its usually considered a good sign when insiders own a significant number of shares in the company, and in this case, we're glad to see a company insider play the role of a key stakeholder. Budi Tenggara Sdn Bhd is the second largest shareholder owning 8.6% of common stock, and Kumpulan Wang Persaraan holds about 6.5% of the company stock. To make our study more interesting, we found that the top 3 shareholders have a majority ownership in the company, meaning that they are powerful enough to influence the decisions of the company. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Our information suggests that insiders maintain a significant holding in Hartalega Holdings Berhad. Insiders own RM3.1b worth of shares in the RM6.5b company. That's quite meaningful. Most would be pleased to see the board is investing alongside them. You may wish to access this free chart showing recent trading by insiders. With a 22% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Hartalega Holdings Berhad. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. Our data indicates that Private Companies hold 9.7%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. While it is well worth considering the different groups that own a company, there are other factors that are even more important. I always like to check for a history of revenue growth. You can too, by accessing this free chart of historic revenue and earnings in this detailed graph. Ultimately the future is most important. You can access this free report on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
