Latest news with #Hoe
Malaysian Reserve
19-07-2025
- Climate
- Malaysian Reserve
Intense heat waves pose rising health hazard: Expert
KUALA LUMPUR — Climate change is fuelling heat waves that are becoming more frequent and intense, posing a growing challenge to human health, according to a medical expert who has called for updated metrics and criteria to address the issue, Xinhua reported. When a heat wave hits, it is important to go beyond the traditional consideration of the temperature shown on a thermometer but to pay attention to the 'wet-bulb global temperature', which comprehensively accounts for factors such as temperature, humidity, wind speed, and radiant heat. This metric more accurately reflects the actual threat of high temperatures to human health, said Victor Hoe Chee Wai of the Department of Social and Preventive Medicine at the Faculty of Medicine, University of Malaya, in a recent exclusive interview with Xinhua. Hoe said that a wet-bulb thermometer is created by covering a regular thermometer with a wet cloth and placing it in moving air. As the water evaporates, it cools the thermometer, resulting in a reading that is lower than the regular air temperature. Unlike standard air temperature, which is also known as 'dry-bulb temperature', the wet-bulb global temperature better reflects how environmental heat stress affects health, particularly in outdoor or occupational settings. Hoe emphasised that this is particularly important for Malaysia, a tropical country located near the equator, where high temperatures and humidity are present year-round, with average annual temperatures ranging from 21 to 32 degrees Celsius. Hoe noted that as global temperatures rise and humidity levels increase, dangerous high-temperature events are becoming more frequent, and even areas with cooler climates in the past are no longer immune. — BERNAMA-XINHUA
New Straits Times
23-06-2025
- Business
- New Straits Times
Cuckoo, Samsung team up to deliver smart home solutions in Malaysia
KUALA LUMPUR: Cuckoo International (MAL) Bhd and Samsung Malaysia Electronics have entered a strategic partnership to roll out a new suite of smart healthy home solutions in Malaysia. The move is set to expand Cuckoo's product lineup to include Samsung's consumer electronics, it said in a statement today. The collaboration, named the Cuckoo Smart Healthy Home Co-Created Programme with Samsung, marks Cuckoo's latest push under its "co-created" business segment, which has become a key revenue driver for the company. Under the partnership, Cuckoo will distribute Samsung products including smartphones, smart TVs, AirDressers, refrigerators, and washing machines, integrating them into its wellness-focused product ecosystem. Cuckoo said the new range of products will be available for purchase beginning July 1. The co-created segment, which includes past collaborations with LSK, Fujiaire and OGAWA Malaysia, contributed 20.2 per cent of the group's total revenue in 2024, up from 2.9 per cent in 2021. The company posted RM1.24 billion in revenue for 2024, its highest on record. In the first quarter of 2025, the segment generated RM58.3 million, or 19.7 per cent of total revenue. "This segment is all about working with like-minded business partners to unlock greater value, for our customers and the company," Hoe added.
Business Times
19-06-2025
- Business
- Business Times
South Korea's Cuckoo set for Malaysia debut after scaling down IPO
[SEOUL] A subsidiary of South Korean home-appliance maker Cuckoo Holdings is set to go public in Malaysia after a scaled-down offering that is expected to raise RM395 million (S$119.4 million). Cuckoo International (Mal) will begin trading on June 24, two months after postponing its initial public offering (IPO) due to market volatility. The final amount raised may vary as the company is waiting for approval from the bourse to reduce its public shareholding spread to 20 per cent from the current 25 per cent. Its revised offer price of RM1.08 per share, from RM1.29 previously, will value the company at RM1.55 billion. The company's debut will be closely watched for clues on demand for consumption stocks given the tepid retail subscription rate for Cuckoo. Chief executive officer Hoe Kian Choon is confident that its prospects and sizeable market share in the local home-appliance rental segment will draw investors. 'A lot of our investors were happy' that the offering was put off to ride out the volatility sparked by the US tariff announcement in April, Hoe said. 'None of our cornerstone investors left.' While market uncertainty remains high, the situation is 'more stable now,' allowing the company to revive its listing plans, he added. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Hoe, who founded the local company in 2014 as a distributor of Cuckoo products, has grown the business on the strength of its water purifier rental segment. Cuckoo Malaysia also co-creates some new products with other brands for the domestic market. The company's promising outlook prompted its Korean supplier to take up a majority stake in the Malaysian firm. Hoe said that Cuckoo Malaysia has secured nearly a fifth of the local appliance rental market and opportunities to cross-sell products among its one million active-subscriber base would help the company achieve double-digit revenue growth over the next few years. Cuckoo Malaysia's profit after tax for the first nine months of 2024 jumped 75 per cent from the previous corresponding period to RM104 million. Revenue rose 13 per cent. 'Malaysia's market is growing not only in number of households but also in household debt,' Hoe noted. 'Malaysians are looking for the best way to actually maximise their value for money. Rental will be one of the ways for them to enjoy a standard of living.' Korean rival Coway's wholly-owned local unit currently has market leadership in the rental space. Hoe, a former Coway executive, aims to catch up with other Cuckoo offerings including mattresses, massage chairs and air purifiers. Consumer brands that are centred on mass-market affordability have done well in Malaysia. Two of the country's biggest IPOs in the past year were retail chains that catered to customers looking to stretch the dollar – mini-mart operator 99 Speed Mart Retail Holdings and dollar-store chain Eco-Shop Marketing. Hoe said that Cuckoo's business fundamentals remain sound given little exposure to external shocks. While it is vulnerable to a stronger US currency – the company buys stock from its Korean parent in dollars – strong recurring income from its rental segment helps ease the pressure. Cuckoo will use proceeds from the IPO to open new concept stores that will allow cash-and-carry purchases and expand its business in Singapore. BLOOMBERG
Business Times
19-06-2025
- Business
- Business Times
Korea's Cuckoo set for Malaysia debut after scaling down IPO
(Bloomberg) – A subsidiary of South Korean home-appliance maker Cuckoo Holdings is set to go public in Malaysia after a scaled-down offering that's expected to raise RM395 million (S$119.4 million). Cuckoo International (Mal) will begin trading on June 24, two months after postponing its initial public offering due to market volatility. The final amount raised may vary as the company is waiting for approval from the bourse to reduce its public shareholding spread to 20 per cent from the current 25 per cent. Its revised offer price of RM1.08 per share, from RM1.29 previously, will value the company at RM1.55 billion. The company's debut will be closely watched for clues on demand for consumption stocks given the tepid retail subscription rate for Cuckoo. Chief executive officer Hoe Kian Choon is confident that its prospects and sizeable market share in the local home-appliance rental segment will draw investors. 'A lot of our investors were happy' that the offering was put off to ride out the volatility sparked by the US tariff announcement in April, Hoe said in an interview. 'None of our cornerstone investors left.' While market uncertainty remains high, the situation is 'more stable now,' allowing the company to revive its listing plans, he said. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Hoe, who founded the local company in 2014 as a distributor of Cuckoo products, has grown the business on the strength of its water purifier rental segment. Cuckoo Malaysia also co-creates some new products with other brands for the domestic market. The company's promising outlook prompted its Korean supplier to take up a majority stake in the Malaysian firm. Hoe said Cuckoo Malaysia has secured nearly a fifth of the local appliance rental market and opportunities to cross-sell products among its one million active-subscriber base would help the company achieve double-digit revenue growth over the next few years. Cuckoo Malaysia's profit after tax for the first nine months of 2024 jumped 75 per cent from the previous corresponding period to RM104 million. Revenue rose 13 per cent. 'Malaysia's market is growing not only in number of households but also in household debt,' Hoe said. 'Malaysians are looking for the best way to actually maximize their value for money. Rental will be one of the ways for them to enjoy a standard of living.' Korean rival Coway's wholly-owned local unit currently has market leadership in the rental space. Hoe, a former Coway executive, aims to catch up with other Cuckoo offerings including mattresses, massage chairs and air purifiers. Consumer brands that are centred on mass-market affordability have done well in Malaysia. Two of the country's biggest IPOs in the past year were retail chains that catered to customers looking to stretch the dollar – mini-mart operator 99 Speed Mart Retail Holdings and dollar-store chain Eco-Shop Marketing. Hoe said Cuckoo's business fundamentals remain sound given little exposure to external shocks. While it is vulnerable to a stronger US currency – the company buys stock from its Korean parent in dollars – strong recurring income from its rental segment helps ease the pressure. Cuckoo will use proceeds from the IPO to open new concept stores that will allow cash-and-carry purchases and expand its business in Singapore. BLOOMBERG
The Star
16-06-2025
- Business
- The Star
Employer searches for manager who allegedly siphoned RM2.5mil
Johor MCA deputy secretary Chan San San (second from left) discussing with Koh Chew Siee (second from right) and Hoe Hong Seng (right) and their lawyer Tan Jun Jie (left) during a press conference held at Pasir Gudang MCA office here in Johor Baru on Monday (June 16). JOHOR BARU: An employer is searching for his former manager, who has been missing after allegedly siphoning RM2.5mil from the company's account nearly two years ago. The company's business development manager Hoe Hong Seng said they discovered issues with their account when an auditor found discrepancies during an internal investigation. "So far, we have evidence that about RM2.5mil of the company's money is missing, but we have reason to believe the actual amount could reach RM10mil. "Our auditors found payment receipts from our customers between January 2018 and November 2023, but the money did not end up in our account," he added. Hoe said this at a press conference organised by Johor MCA deputy secretary Chan San San, held at the Pasir Gudang MCA division office on Monday (June 16). He added that after discovering the missing money in the company's account, they met with the 58-year-old manager, who had been working with them since 2004. He claimed the manager did not deny taking the money and promised to repay RM100,000. But, the company refused her offer because Hoe said the manager had taken more than RM2mil. Hoe also claimed soon after their meeting, the manager ran away and despite numerous attempts to find her, including calling her mobile phone, failed to locate her. Hoe added that the manager's husband told them they were divorced and the latter has no idea where she is. Meanwhile, the company's owner and director, Koh Chew Siee, said he hopes his former employee will reach out to them and find an amicable solution. "I hope she can call us soon so we can discuss this matter and find a proper solution," he added. When contacted, Seri Alam OCPD Asst Comm Mohd Sohaimi Ishak confirmed the report and said an investigation has been opened under Section 408 of the Penal Code. He added that efforts are underway to locate and arrest the suspect to assist with police investigations.
