Latest news with #RM1.3bil
The Star
a day ago
- Business
- The Star
Pineapples go from field to fortune
Fruitful industry: Mohamad (left), Deputy Agriculture and Food Security Minister Datuk Arthur Joseph Kurup (right) and Malaysian Pineapple Industry Board chairman Sheikh Umar Bagharib Ali (second from right) looking at bags made from pineapple threads. — THOMAS YONG/The Star JOHOR BARU: Malaysia's pineapple industry has grown into a billion-ringgit venture, with farmers earning up to RM9,000 a month, marking a major milestone in the country's agri-food success story. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said the nation recorded RM1.3bil in pineapple output value in 2024, a 34% increase from the previous year. He added that the country's pineapple production volume rose 17% to 520,000 metric tonnes, cultivated across 13,000ha of productive farmland. 'This shows that pineapples are not just a fruit we enjoy, but a true engine of rural economic development,' he said at the inaugural Malaysian Pineapple Day celebration yesterday. Mohamad said Malaysia now has over 8,000 pineapple growers and more than 300 companies involved in the sector. The self-sufficiency level for pineapples has reached 103%, enabling Malaysia to meet domestic demand and expand its export potential. He highlighted the case of a Johor farmer who doubled his income from RM180,000 to RM350,000 annually by making use of drone technology. In Pahang, the Hijrah Asnaf Pineapple Farming programme has helped 18 participants, mainly from underprivileged groups, earn monthly incomes of up to RM5,000 after just a few months of cultivation. 'The Federal Government has allocated RM75mil for pineapple development in Sarawak under the 12th Malaysia Plan.' Mohamad praised Sarawak's innovation in using pineapple waste as livestock feed and the launch of the new Sarawak Gold variety as an alternative to the MD2 premium hybrid. Mohamad said in Kedah, artificial intelligence and satellite imaging are being used to monitor crops, boosting yield by 30% while reducing operational costs by 40%. He said these technological advances are helping Malaysia prepare to meet growing demand from foreign markets such as China and Singapore. Mohamad said Johor remains the top pineapple-producing state in the country, contributing 68% of total cultivated land.
The Star
2 days ago
- Business
- The Star
Malaysia's pineapple industry reaches billion-ringgit milestone
JOHOR BARU: Malaysia's pineapple industry has become a billion-ringgit sector, with farmers earning up to RM9,000 a month, marking a significant milestone in the country's agri-food success story. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu announced that the nation recorded RM1.3bil in pineapple output value in 2024, reflecting a 34% increase from the previous year. He noted that the country's pineapple production volume rose 17% to 520,000 metric tonnes, cultivated across 13,000ha of productive farmland. "This shows that pineapples are not just a fruit we enjoy, but a true engine of rural economic development," he said in his speech at the inaugural Malaysian Pineapple Day celebration held at a shopping mall on Friday (June 27). Mohamad added that Malaysia now has more than 8,000 pineapple growers and over 300 companies involved in the sector, ranging from small to large-scale operations. He stated that the self-sufficiency level for pineapples has reached 103%, allowing Malaysia to meet its domestic demand and expand its export potential. Mohamad Sabu highlighted the case of a Johor farmer who doubled his income from RM180,000 to RM350,000 annually by integrating drone technology into his operations. In Pahang, the Hijrah Asnaf Pineapple Farming programme has helped 18 participants, mainly from underprivileged groups, earn monthly incomes of up to RM5,000 after just a few months of cultivation. "The Federal Government has allocated RM75 million for pineapple development in Sarawak under the 12th Malaysia Plan (RMK-12). Farmers in Ulu Moyan three are already producing 50 tonnes of pineapples monthly and have set up their own processing facilities," he added. Mohamad also commended Sarawak's innovation in using pineapple waste as livestock feed and the launch of the new Sarawak Gold (SG1) variety as an alternative to the MD2 premium hybrid. "This shows a strong commitment from the Sarawak government to turn pineapple into a strategic commodity while supporting green economy principles," he said. In Kedah, artificial intelligence (AI) and satellite imaging are being used to monitor crops, boosting yield by 30% while reducing operational costs by 40%. He said these advances in technologies are helping prepare Malaysia to meet growing demand from foreign markets like China and Singapore. "Under the upcoming 13th Malaysia Plan, the ministry aims to expand cultivated land to 30,000 hectares, increase production to 1 million metric tonnes, and double pineapple exports from 2,300 to 4,000 containers annually," he added. Mohamad also noted that Johor remains the top pineapple-producing state in the country, contributing 68% of total cultivated land, thanks to strong collaboration with the state government. He urged more states, private firms, and individuals to participate in the pineapple sector, highlighting that the crop is now both a national asset and a symbol of rural transformation.
The Star
22-05-2025
- Business
- The Star
YTL Corp quarterly revenue increases
PETALING JAYA: YTL Corp Bhd expects the performance of its business segment to remain resilient going forward due to the essential nature of its operations. For the third quarter ended March 31, 2025 (3Q25), the group posted a 15.5% year-on-year (y-o-y) decline in net profit to RM419.4mil, translating to an earnings per share of 3.81 sen. This is despite a higher revenue which grew by 1.5% y-o-y to RM7.3bil. For the nine-month period ended March 31, 2025 (9M25), YTL Corp's net profit was down by 17% y-o-y to RM1.3bil, while revenue was up by 4% y-o-y to RM23.2bil. Earnings before interest, tax, depreciation and amortisation for 9M25 remained steady at RM6.9bil, compared with RM7bil in 9M24. YTL Group executive chairman Tan Sri Francis Yeoh Sock Ping said the group delivered solid results for the period under review, with all divisions continuing to turn in healthy performances. 'Results from our utilities segment moderated following an exceptional performance driven by the power generation sub-segment in Singapore last year, and we continue to see good turnaround in the UK water and sewerage sub-segment,' he said in a statement yesterday. Yeoh added that the cement division recorded a strong set of results, whilst higher revenue in the construction segment due to an increase in work volumes from third-party construction projects was impacted by elevated construction costs. 'Meanwhile, the hotel division continued to achieve higher occupancy rates and stronger average room rates across key properties,' he said. YTL Power, meanwhile, recorded a revenue of RM16.25bil for 9M25 compared to RM15.98bil for the corresponding 9M24. Profit before tax decreased to RM2.24bil for the current period under review over RM2.88bil for the same period last year, whilst profit after tax stood at RM1.79bil this year compared to RM2.39bil for the same period last year. YTL Power executive chairman Yeoh said the group's performance remained strong for the financial year to date, prompting a higher interim dividend of four sen per share. 'Performance of the power generation segment in Singapore has continued to moderate on the back of lower pool and retail prices, following exceptional results seen last year. 'In our water and sewerage segment, higher revenue resulted from the increase in price allowed by the UK regulator, as well as revenue contribution from our operations in Malaysia, with profit improving primarily due to the said price increase in the United Kingdom, coupled with the decrease in inflationary pressures on index-linked bonds,' he said. Yeoh added that the telecommunication segment recorded better performance in the current period due to higher project revenue, whilst in the investment holding segment, higher revenue was contributed mainly by the consultancy services sub-segment, although profit was impacted by unrealised foreign-exchange losses. YTL Power declared a higher interim dividend of four sen per ordinary share in respect of the financial year ending June 30, 2025, compared to three sen per ordinary share declared in the corresponding quarter last year. The book closure and payment dates for which are June 25, 2025 and July 10, 2025, respectively. Malayan Cement's revenue remained stable at RM3.42bil in 9M25 compared to RM3.41bil for the corresponding 9M24. Profit before tax increased 43% to RM718.3mil for the nine months under review compared to RM503.4mil for the same period last year, whilst profit after tax rose 59% to RM507.5mil in the current period under review over RM318.7mil for the same period last year. Malayan Cement executive chairman Yeoh said the better performance was due to improved operational efficiencies, lower production costs, reduced borrowing costs and the absence of recognition of share option costs in the current quarter, coupled with a one-off gain from a compulsory land acquisition recorded in the last quarter. YTL Hospitality-REIT recorded a revenue of RM421.3mil for 9M25, approximating that of the corresponding 9M24, whilst net property income grew 2% to RM228.1mil compared to RM223.7mil for the same period last year.
The Star
22-05-2025
- Business
- The Star
YTL Corp expects its business to stay resilient
PETALING JAYA: YTL Corp Bhd expects the performance of its business segment to remain resilient going forward due to the essential nature of its operations. For the third quarter ended March 31, 2025 (3Q25), the group posted a 15.5% year-on-year (y-o-y) decline in net profit to RM419.4mil, translating to an earnings per share of 3.81 sen. This is despite a higher revenue which grew by 1.5% y-o-y to RM7.3bil. For the nine-month period ended March 31, 2025 (9MFY25), YTL Corp's net profit was down by 17% y-o-y to RM1.3bil, while revenue was up by 4% y-o-y to RM23.2bil. Earnings before interest, tax, depreciation and amortisation for 9MFY25 remained steady at RM6.9bil, compared with RM7bil for 9MFY24. YTL Group executive chairman Tan Sri Francis Yeoh Sock Ping said the group delivered solid results for the period under review, with all divisions continuing to turn in healthy performances. 'Results from our utilities segment moderated following an exceptional performance driven by the power generation sub-segment in Singapore last year, and we continue to see good turnaround in the UK water and sewerage sub-segment,' he said in a statement yesterday. Yeoh added that the cement division recorded a strong set of results, whilst higher revenue in the construction segment due to an increase in work volumes from third-party construction projects was impacted by elevated construction costs. 'Meanwhile, the hotels division continued to achieve higher occupancy rates and stronger average room rates across key properties,' he said. YTL Power recorded revenue of RM16.25bil for 9MFY25 compared to RM15.98bil for the corresponding 9MFY24. Profit before tax decreased to RM2.24bil for the current period under review over RM2.88bil for the same period last year, whilst profit after tax stood at RM1.79bil this year compared to RM2.39bil for the same period last year. YTL Power executive chairman Yeoh said the group's performance remained strong for the financial year to date, prompting a higher interim dividend of 4 sen per share. 'Performance of the power generation segment in Singapore has continued to moderate on the back of lower pool and retail prices, following exceptional results seen last year. In our water and sewerage segment, higher revenue resulted from the increase in price allowed by the UK regulator, as well as revenue contribution from our operations in Malaysia, with profit improving primarily due to the said price increase in the UK, coupled with the decrease in inflationary pressures on index-linked bonds,' he said. Yeoh added that the telecommunication segment recorded better performance in the current period due to higher project revenue, whilst in the investment holding segment, higher revenue was contributed mainly by the consultancy services sub-segment, although profit was impacted by unrealised foreign exchange losses. YTL Power declared a higher interim dividend of 4 sen per ordinary share in respect of the financial year ending June 30, 2025, compared to 3 sen per ordinary share declared in the corresponding quarter last year. The book closure and payment dates for which are June 25, 2025 and July 10, 2025, respectively. Meanwhile, Malayan Cement's revenue remained stable at RM3.42bil for 9MFY25 compared to RM3.41bil for the corresponding 9MFY24. Profit before tax increased 43% to RM718.3mil for the nine months under review compared to RM503.4mil for the same period last year, whilst profit after tax rose 59% to RM507.5mil in the current period under review over RM318.7mil for the same period last year. Malayan Cement executive chairman Yeoh said the better performance was due to improved operational efficiencies, lower production costs, reduced borrowing costs and the absence of recognition of share option costs in the current quarter, coupled with a one-off gain from a compulsory land acquisition recorded in the last quarter. 'The group's ongoing cost reduction and efficiency efforts, supported by strong leadership and innovation, have yielded positive results. All business units contributed to the improved performance, showcasing the strength of the group's diversified portfolio, with the ready-mix concrete business excelling in delivering high-value, bespoke products tailored to the evolving needs of the construction industry,' he said. Meanwhile, YTL Hospitality REIT recorded revenue of RM421.3mil for 9MFY25, approximating that of the corresponding 9MFY24, whilst net property income grew 2% to RM228.1mil for the current period under review compared to RM223.7mil for the same period last year.
The Star
20-05-2025
- Business
- The Star
Eversendai secures RM1.3bil in contracts
KUALA LUMPUR: Eversendai Corp Bhd has secured three projects in UAE, India and Singapore with a combined value of RM1.3bil, it announced to the stock exchange today. With the inclusion of these projects, the group's oustanding order book has risen to a record RM6.6bil. In the UAE, Eversendai Offshore has secured a project from Dragados Offshore S.A.U., Spain, for the fabrication of structural steel for the offshore converter blocks (topside) for the LanWin2, BalWin3 and LanWin4 offshore grid connection projects in Germany. The offshore grid connection systems LanWin2, BalWin3 and LanWin4 are part of TenneT's 2GW programme, which sets new standards in offshore grid infrastructure and doubles the existing transmission capacity of offshore grid connection systems. Eversendai said the blocks for the three topsides - which will be executed at the fabrication facility in Ras Al Khaimah in the UAE - will be delivered progressively by December 2027. Meanwhile, Eversendai in India has secured the Chennai International Airport's Phase II modernisation project, focused on significantly expanding the airport's capacity. It said the terminal 2 extension will add around 1.2 million square feet of space to the terminal buildings. Lastly, Eversendai has secured a contract for the construction of the New Science Centre in Singapore, with the composite building consisting of truss, columns, and beams from Level 2 to roof. "The scope for all these projects includes engineering, connection design, shop drawings, steel material supply, fabrication, delivery, erection of structural steel work," said the group.
