Latest news with #Inland
The Sun
22-06-2025
- Business
- The Sun
Kedah records investments totalling RM4.2 billion in 1Q 2025
ALOR SETAR: Kedah recorded RM4.2 billion in investments in the first quarter of this year (1Q 2025), which is expected to generate over 1,400 job opportunities. Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor said the manufacturing sector accounted for the largest share with RM3.9 billion in investments -- the third highest among Malaysian states during the same period. 'The high-value manufacturing sector is expected to continue growing strongly despite the current geopolitical and economic uncertainties. 'This growth is being driven by the development of Phase 4A and Phase 5 of the Kulim Hi-Tech Park, the Kulim Industrial Corridor, and new industrial areas such as the Kedah Rubber City and the Kedah Science Technology Park,' he said. He was speaking at the investiture ceremony in conjunction with the 83rd birthday celebration of the Sultan of Kedah, Al-Aminul Karim Sultan Sallehuddin Sultan Badlishah, at Istana Anak Bukit here today. According to Muhammad Sanusi, investors' willingness to invest in Kedah was a manifestation of the stability, transparency, and effectiveness of the state government's policies. Meanwhile, he said the development of the Border Town Corridor has shown positive progress, particularly with the opening of the Inland Clearance Depot (ICD), a logistics hub at the Delapan Special Border Economic Zone in Bukit Kayu Hitam. He said the hub is capable of attracting additional container traffic estimated at 240,000 twenty-foot equivalent units (TEUs) from southern Thailand, potentially contributing up to RM843 million annually to Kedah's gross domestic product. 'This border town development is further supported by the construction of a connecting road between the Bukit Kayu Hitam Immigration, Customs, Quarantine and Security Complex and the Sadao Customs, Immigration and Quarantine Complex in Thailand, which is expected to be completed by September. 'This strategic infrastructure is projected to boost the Malaysia–Thailand bilateral trade from RM117 billion in 2023 to RM141 billion by 2027, benefiting Kedah through increased cross-border economic activities,' he said. Additionally, Muhammad Sanusi said that the state recorded 1.5 million tourist arrivals in 1Q 2025 through ongoing promotional efforts in conjunction with the Visit Kedah Year 2025. 'I am confident that the target of seven million tourists can be achieved through the 170 programmes outlined in the Visit Kedah 2025 calendar of events, including 45 major events that will feature elements of sports, gastronomy, technology, and spirituality,' he added.
The Sun
22-06-2025
- Business
- The Sun
Kedah records investments totalling RM4.2b in 1Q 2025
ALOR SETAR: Kedah recorded RM4.2 billion in investments in the first quarter of this year (1Q 2025), which is expected to generate over 1,400 job opportunities. Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor said the manufacturing sector accounted for the largest share with RM3.9 billion in investments -- the third highest among Malaysian states during the same period. 'The high-value manufacturing sector is expected to continue growing strongly despite the current geopolitical and economic uncertainties. 'This growth is being driven by the development of Phase 4A and Phase 5 of the Kulim Hi-Tech Park, the Kulim Industrial Corridor, and new industrial areas such as the Kedah Rubber City and the Kedah Science Technology Park,' he said. He was speaking at the investiture ceremony in conjunction with the 83rd birthday celebration of the Sultan of Kedah, Al-Aminul Karim Sultan Sallehuddin Sultan Badlishah, at Istana Anak Bukit here today. According to Muhammad Sanusi, investors' willingness to invest in Kedah was a manifestation of the stability, transparency, and effectiveness of the state government's policies. Meanwhile, he said the development of the Border Town Corridor has shown positive progress, particularly with the opening of the Inland Clearance Depot (ICD), a logistics hub at the Delapan Special Border Economic Zone in Bukit Kayu Hitam. He said the hub is capable of attracting additional container traffic estimated at 240,000 twenty-foot equivalent units (TEUs) from southern Thailand, potentially contributing up to RM843 million annually to Kedah's gross domestic product. 'This border town development is further supported by the construction of a connecting road between the Bukit Kayu Hitam Immigration, Customs, Quarantine and Security Complex and the Sadao Customs, Immigration and Quarantine Complex in Thailand, which is expected to be completed by September. 'This strategic infrastructure is projected to boost the Malaysia–Thailand bilateral trade from RM117 billion in 2023 to RM141 billion by 2027, benefiting Kedah through increased cross-border economic activities,' he said. Additionally, Muhammad Sanusi said that the state recorded 1.5 million tourist arrivals in 1Q 2025 through ongoing promotional efforts in conjunction with the Visit Kedah Year 2025. 'I am confident that the target of seven million tourists can be achieved through the 170 programmes outlined in the Visit Kedah 2025 calendar of events, including 45 major events that will feature elements of sports, gastronomy, technology, and spirituality,' he added.
The Herald
03-06-2025
- Business
- The Herald
Petrol and diesel prices to drop at midnight
At midnight motorists will be greeted by the fourth consecutive month of fuel price decreases. The minister of mineral and petroleum resources said the lower prices are due to an improvement in the rand/US dollar exchange rate and the decrease in the international oil price. The retail prices of both grades of petrol decrease by 5c/ l on Wednesday, while the wholesale price of diesel reduces 37c/ l . Illuminating paraffin sees a 56c/ l reduction. The decreases would have been even more had it not been for the 16c increase for petrol and 15c increase for diesel in the general fuel levy (GFL) announced by finance minister Enoch Godongwana in the latest iteration of his 2025 budget speech earlier in May. Godongwana said the adjustment — the first in three years — would help fill the gap from his rejected VAT hike proposal and ease the main budget deficit. Fuel price decreases from Wednesday Inland: Petrol 95 unleaded: R21.40/ l — R21.35/ l — R21.35/ Petrol 93 unleaded: R21.29/ l — R21.24/ l — R21.24/ Diesel 0.05%: R18.90/ l — R18.53 /l — R18.53 Diesel 0.005%: R18.94/ l — R18.53/l Coast: Petrol 95 unleaded: R20.61/ l — R20.56 /l — R20.56 Petrol 93 unleaded: R20.50/ l — R20.45 /l — R20.45 Diesel 0.05%: R18.11/ l — R17.74 /l — R17.74 Diesel 0.005%: R18.18/ l — R17.81/l
Yahoo
14-04-2025
- Business
- Yahoo
Inland Appoints Industry Veteran Michael Beringer as Chief Financial Officer
OAK BROOK, Ill., April 14, 2025--(BUSINESS WIRE)--The Inland Real Estate Group, LLC, part of The Inland Real Estate Group of Companies, Inc. ("Inland" or the "Company") which is one of the nation's largest commercial real estate and finance groups, announced today the appointment of Michael Beringer as its Chief Financial Officer ("CFO"). Beringer will be responsible for managing the finance function for Inland and assisting in identifying opportunities to deploy capital across Inland's ever expanding commercial real estate platform. As a trusted business partner to senior management, the Inland Board of Managers and other senior management team members across the Inland member companies, Beringer will help shape financial strategies and reporting across the organization. He will report to Tony Chereso, President and Chief Executive Officer of Inland, and formerly Inland's CFO. "Mike brings deep industry expertise and a wealth of corporate real estate financial and institutional knowledge, strategic leadership and a history of successful execution to the Company," commented Chereso. "As we continue to invest in Inland and its member companies, Mike's financial acumen, operational and institutional expertise will be instrumental in driving our ability to execute on our strategic growth initiatives." "I am thrilled to join Inland and build on its nearly six-decade long track record of integrity and expertise in the commercial real estate and finance industry," said Beringer. "I look forward to working closely with Tony and his collaborative and dynamic team to help lead Inland toward continued growth and success." Beringer formerly served as the Chief Financial Officer of Sterling Bay, a national real estate investment, development and operations firm with a diverse portfolio spanning creative office, life sciences, residential and industrial assets. At Sterling Bay, he led all accounting, tax and treasury functions with a focus on strategic initiatives including redefining the budget and forecast process, system implementation and improved processes and procedures. Prior to that, he was Senior Vice President of Finance at Revantage, a Blackstone-affiliated company, where he provided strategic oversite of all finance functions including accounting, tax and treasury while partnering across Blackstone's various portfolio companies. He has held various roles at EQ Office, a Blackstone Portfolio Company, including Senior Director of Investment Reporting. For more than 20 years he has worked in accounting and corporate finance at various real estate investment companies. Beringer received his Bachelor of Science in accounting from Millikin University and his Master of Business Administration from Northern Illinois University. He is a Certified Public Accountant (CPA) and serves on the Executive Board of the Darien Youth Club. About The Inland Real Estate Group, LLC "Inland" refers to some or all of the entities that are part of The Inland Real Estate Group of Companies, Inc., including The Inland Real Estate Group, LLC, which is comprised of a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by such entities or subsidiaries thereof. Inland has been creating, developing, and supporting member companies for more than 55 years that provide real estate-related investment products and commercial real estate services for both third parties and Inland member companies. For more information, visit View source version on Contacts Nicole Spreck, Inland Communications(630) 586-4896 Sign in to access your portfolio
Yahoo
22-03-2025
- Business
- Yahoo
MaineGeneral Health to lay off more than 100 workers to address budget shortfalls
Mar. 21—WATERVILLE — More than 100 employees of MaineGeneral Health will be laid off next month as administrators seek to address budget shortfalls caused by the high cost of doing business and declining reimbursements. MaineGeneral Health President and CEO Nathan Howell said Friday that in an effort to be transparent, and with continuing uncertainty related to Northern Light Inland Hospital's planned closure, MaineGeneral informed workers that about 100 people will be laid off in mid-April. It is unclear exactly what positions will be cut in the upcoming layoffs. Asked what departments will be affected, Joy McKenna, MaineGeneral's director of marketing and communications, said officials are "still in the process of identifying those details." McKenna later clarified that MaineGeneral plans to eliminate the equivalent of about 100 full-time positions from its workforce of about 5,000 people. The term "full-time equivalent" combines the hours worked by both full-time and part-time employees into a single, equivalent unit, meaning two half-time employees would comprise a single full-time equivalent position. "A reduction in force is always among the very last actions we want to consider, as our employees are our greatest resources," Howell said in a statement. "However, we need to ensure that we are operating as efficiently and effectively as possible." Northern Light Health announced earlier this month that Inland Hospital, located on Kennedy Memorial Drive in Waterville, would cease operations May 27, about 300 people would be laid off and the hospital would close June 11. Inland is the only inpatient hospital in Waterville. MaineGeneral Health officials said last week they are working with Northern Light to learn the scope of changes that will occur as part of Inland's closure, including the number of staff and patients who will be affected and how MaineGeneral may be able to take on certain staff and help meet community needs. The Inland closure adds to a complicated, challenging financial situation at MaineGeneral, which is similar to what other hospitals in Maine are facing, officials say. Howell said Friday that the current crisis in MaineCare funding compounds an already tenuous footing for MaineGeneral and other hospitals. "Maine's nonprofit hospitals are challenged by declining reimbursement rates from payers — reimbursement rates are not covering the actual cost of care," he said. "Additionally, we are experiencing excessive denials, especially from Medicare Advantage plans. The cost of doing business is increasing, which is not unique to health care. These are just some of the multiple challenges that we have been facing." "The impact of the partial MaineCare payments that started March 12 (due to failure to pass the supplemental budget), is a financial hit to the health system of approximately $600,000 per week. We need to find a way to mitigate those losses as quickly as possible." Howell said MaineGeneral has been transparent with its nearly 5,000 employees that budget shortfalls must be addressed now and into the next fiscal year, starting July 1. Additional actions planned to help mitigate losses, he said, include putting a hold on employee travel other than what is needed for the services and business of the health system, with no out-of-state travel. MaineGeneral Health is also putting a hold on filling open positions that are not necessary for the provision of health care services; reviewing the remaining budget for the fiscal year and putting a freeze on spending where possible; and putting a hold on providing sponsorship dollars. "We believe doing this difficult work now will set us up for a more financially sustainable future, as we want to remain independent and available to meet the health care needs of our community now and into the future," Howell said. MaineGeneral has many locations throughout central Maine, including the inpatient hospital MaineGeneral Medical Center and the Harold Alfond Center for Cancer Care, located on the same campus in Augusta, and health care offices and facilities in Gardiner, Hallowell, Belgrade, Winthrop and Fairfield. Thayer Center for Health, Elmwood Primary Care and other offices and practices are located in Waterville. Contacted Friday, Jessica Picard, communications director for the Maine Department of Labor, said that due to confidentiality rules, the department can neither confirm nor deny whether a company has notified the DOL of layoffs. But DOL does post Worker Adjustment & Retraining Act, or WARN notices it receives. Such notices are required in certain circumstances, and the department reaches out to offer rapid response services for affected workers. The WARN Act is a federal law requiring employers to give advance notice to workers facing a plant closure or mass layoff. The advance notices gives workers and their families transition time to adjust to the prospective loss of employment, seek and find other jobs and, with help from the local workforce development areas, receive skill training or retraining to allow them to compete in the job market. WARN requires that a 60-day notice be given to employers with 100 or more full-time workers. Maine requires a 90-day notice for a covered establishment that is relocating or closing. The department's Rapid Response team is working with Inland employees, as well as with human resources departments of companies that Inland contracted with, to help affected workers, Picard said. "In general, any workers statewide who are impacted by a layoff should reach out to their local CareerCenter, which can help connect them to reemployment services, training, and other information," Picard said in an email. The CareerCenter may be reached by email at by phone at 207-623-7981, or through the LiveChat feature at Copy the Story Link
