Latest news with #RM1.55
The Sun
3 days ago
- Business
- The Sun
Penang airport expansion set for completion by June 2028
SEPANG: Malaysia Airports Holdings Bhd (MAHB) is on track to complete the Penang International Airport (PIA) expansion by June 2028, with phased construction already in progress. Group managing director Datuk Mohd Izani Ghani confirmed the RM1.55 billion project will double the airport's annual passenger capacity from 6.5 million to 12 million. The expansion is structured in three phases. Phase One involves relocating government offices, including the Civil Aviation Authority of Malaysia and the Malaysian Meteorological Department, from the airport site. Phase Two focuses on apron expansion, while Phase Three, covering terminal upgrades, is in final design stages. 'We aim for board approval and contractor appointment by year-end to meet the 2028 deadline,' Mohd Izani said during a media briefing on MAHB's strategic plans. The company also secured federal approval to expand Kota Kinabalu International Airport (KKIA), which is nearing its nine-million-passenger limit. MAHB is finalising plans to raise KKIA's capacity to 12 million, with contractor selection expected by December. Upgrades for tier-two airports in Tawau, Miri, and Kota Bharu are also underway. Kota Bharu's Phase One was completed last August, with Phase Two set for early 2026. Tawau and Miri's projects will be federally funded. On Sarawak's proposal for a new Kuching International Airport, Mohd Izani noted discussions are ongoing between state and federal authorities. MAHB holds the first right to manage new airports under its federal agreement, but economic feasibility for dual-city airports remains under review. Langkawi International Airport, a four-time winner in the under-five-million-passenger category, recently upgraded its VIP lounge. However, Mohd Izani highlighted untapped tourism potential, urging stronger collaboration with tourism agencies to rival destinations like Bali and Phuket. Subang Airport's terminal expansion, completed last year, increased capacity to three million passengers annually. With AirAsia shifting jet operations to KLIA Terminal 2 and Firefly potentially exiting Subang, MAHB is reassigning slots, possibly to foreign airlines, pending Transport Ministry discussions. - Bernama
Barnama
3 days ago
- Business
- Barnama
Malaysia Airports Targets June 2028 For Completion Of Penang Expansion
BUSINESS SEPANG, July 18 (Bernama) -- Malaysia Airports Holdings Bhd (MAHB) aims to complete the Penang International Airport (PIA) expansion project by June 2028, with several phases of work already underway, said group managing director Datuk Mohd Izani Ghani. The expansion project, estimated to cost approximately RM1.55 billion, is designed to address long-term capacity constraints and enhance the passenger experience at one of Malaysia's busiest regional airports. Upon completion, the airport's handling capacity is expected to increase from the current 6.5 million passengers per year to 12 million. The project is being carried out in three phases, he said, with the first phase involving infrastructure works, including the relocation of government agency offices such as the Civil Aviation Authority of Malaysia and the Malaysian Meteorological Department, which are currently situated within the airport compound. Mohd Izani said work on Phase One has already commenced, while Phase Two, focused on apron expansion, is also progressing, and Phase Three, involving the main terminal expansion, is in the final design stage, with board approval and contractor appointment targeted by year-end. 'The target completion date remains June 2028, and we are committed to meeting that timeline,' Mohd Izani told reporters during a media briefing on MAHB's strategic direction here today. Mohd Izani, who was appointed to the role in August last year, also confirmed that the government has approved the expansion of Kota Kinabalu International Airport (KKIA), which is nearing its maximum capacity of nine million passengers annually. MAHB is currently finalising the development plan to expand KKIA's capacity to 12 million passengers and aims to appoint a contractor by year-end. Other tier two airports in the MAHB network are also set for upgrades. These include Tawau, Miri and Kota Bharu.
Borneo Post
3 days ago
- Politics
- Borneo Post
Tiong channels RM2.2 mln to Sibu groups, stresses accountability and real impact
The Malaysian Red Crescent Society Sibu chairman, Penghulu Chua Hiong Kee (eighth left), receives a cheque from Ting, while Teo (fourth right) and others look on. – Photo by Peter Boon SIBU (July 17): A total of RM2.2 million in federal allocations was distributed to 152 recipients here today, with Tourism, Arts and Culture Minister, Dato Sri Tiong King Sing, underscoring the need for accountability and meaningful use of public funds. Of the total, RM1.55 million was disbursed to 137 recipients under the Special Project Allocation (PPK), while another RM660,000 went to 15 recipients under the Special Allocation by Minister (PKM). Tiong, who is also Bintulu MP and Dudong assemblyman, was represented by his special duties officer Agatha Ting during the cheque presentation ceremony held at the United Chinese Association (UCA) Sibu hall. In delivering his speech through Ting, Tiong reminded all recipients that public funds must not be wasted or used for personal gain. 'I hope these funds will be used properly and not just for the sake of spending, but to truly benefit the community. 'Every sen must go for something meaningful, not wasted or personal advantages,' he said. He added that recipients are required to submit a full report on how the funds are used as a condition for any future support. 'So you must submit your report. If there's no report, how can you get another round of support? 'I want to help, but you must also do your part. Be accountable. Only then I can continue to justify giving more funding to support your organisations,' he said. Aside from the cheque allocations, five laptops and printers were presented to longhouse residents, along with 10 hampers for local youth members. Also in attendance were Progressive Democratic Party (PDP) Dudong Division chairman Datuk Teo Boon Siew and PDP Pelawan chairman Datuk Lau Cheng Kiong. funds Sibu Tiong King Sing
New Straits Times
19-06-2025
- Business
- New Straits Times
Tenaganita commends RM1.55 million payout order to Bangladeshi workers
KUALA LUMPUR: Human rights organisation Tenaganita has commended a recent decision by the Kuala Lumpur Labour Department, which ordered Meranti Binamas Sdn Bhd to pay nearly RM1.55 million in unpaid wages and related violations to 74 Bangladeshi migrant workers. The payment, totaling RM1,548,000, follows claims filed by the workers through Tenaganita for unpaid wages and related labour violations. Tenaganita executive director Glorene A Das said the latest development represents a significant step forward in the fight for justice and dignity for migrant workers in Malaysia. "The decision affirms that employers must be held accountable for their obligations and that the rights of workers, particularly migrant workers who are often silenced and made invisibilise, must be asserted without compromise," she said in a statement. The case saw the workers, including lead claimant Md Kabir Hossain, pay exorbitant recruitment fees of up to RM25,000 to secure jobs promised under official permits. However, upon arrival in Malaysia, they were left without employment, wages, or adequate living conditions, exposed to legal risks and mental distress. The workers lived for months in overcrowded and unsanitary hostels in Pudu, without income or support, some even contemplating suicide due to the desperation they endured. The case was led by Tenaganita's consultant and lead case officer Abdul Aziz bin Ismail. Aziz, in response to the decision said; "It has been a long and winding road, but we finally have a decision and an order from the Labour Department. This is a significant achievement for the workers and for Tenaganita. It sets yet another precedent that even large, seemingly untouchable companies can be held accountable when workers stand united and demand justice." By ordering Meranti Binamas Sdn Bhd to pay the amounts due, the department has sent a clear message that employers cannot exploit workers with impunity." Such a case was not isolated. "Tenaganita has documented hundreds of similar cases involving fraud, deception, and labour rights violations under the pretense of legal recruitment. We raised these issues in our International Migrants Day 2024 statement, highlighting the systemic failures that have plagued Malaysia's labour migration governance. "Tenaganita continues to urge the government to ensure that the payment is made promptly and in full, and that systemic reform is undertaken to prevent similar abuses in the future. We also call on the authorities to take proactive steps to identify other affected workers and ensure they too have access to redress.
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
