Latest news with #RM1.85
The Star
6 days ago
- Business
- The Star
Warisan TC expects RM1.85mil net gains from RM49mil Selangor land sale
KUALA LUMPUR: Warisan TC Holdings Bhd (WTCH) expects to record a net gain of RM1.85 million from the sale of an industrial property in Selangor to Leisure Event Sdn Bhd, a wholly-owned subsidiary of property developer Avaland Bhd , for RM49 million. It was previously reported on July 1 that WTCH had divested the industrial property in Petaling Jaya to unlock value and strengthen its working capital. In a filing with Bursa Malaysia today, WTCH said the group intends to utilise the proceeds for working capital purposes, including procurement of inventory in the ordinary course of business (RM38.24 million), capital expenditure (RM9 million), as well as expenses and taxation for the disposal (RM1.76 million). WTCH said the disposal is being undertaken by its 75.5 per cent-owned unit, Comit Communication Technologies (M) Sdn Bhd (CCT), which has entered into a sale and purchase agreement with Leisure Event. It added that the net book value of the property as per the audited financial statements of CCT for the financial year ended Dec 31, 2024, stood at RM45.4 million. - Bernama
New Straits Times
6 days ago
- Business
- New Straits Times
Warisan TC expects RM1.85mil net gain from RM49mil Selangor land sale
KUALA LUMPUR: Warisan TC Holdings Bhd (WTCH) expects to record a net gain of RM1.85 million from the sale of an industrial property in Selangor to Leisure Event Sdn Bhd, a wholly-owned subsidiary of property developer Avaland Bhd, for RM49 million. It was previously reported on July 1 that WTCH had divested the industrial property in Petaling Jaya to unlock value and strengthen its working capital. In a filing with Bursa Malaysia today, WTCH said the group intends to utilise the proceeds for working capital purposes, including procurement of inventory in the ordinary course of business (RM38.24 million), capital expenditure (RM9 million), as well as expenses and taxation for the disposal (RM1.76 million). WTCH said the disposal is being undertaken by its 75.5 per cent-owned unit, Comit Communication Technologies (M) Sdn Bhd (CCT), which has entered into a sale and purchase agreement with Leisure Event. It added that the net book value of the property as per the audited financial statements of CCT for the financial year ended Dec 31, 2024, stood at RM45.4 million.
New Straits Times
30-06-2025
- Business
- New Straits Times
Sapura Energy records Q1 losses, expects better quarters ahead
KUALA LUMPUR: Sapura Energy Bhd posts losses in its first quarter (Q1) of financial year 2026 but says things may improve in the coming quarters. It posted a net loss of RM477.96 million for the quarter ended April 30, 2025 compared with a net profit of RM82.13 million a year ago. The group said the performance was mainly impacted by foreseeable losses relating to a challenging engineering & construction (E&C) project in Angola, along with lower activity levels across other segments. Group revenue for the quarter fell to RM801.37 million from RM1.18 billion previously. As a result, Sapura Energy registered a loss per share of 2.60 sen compared to 0.45 sen in 1Q25, it said in a filing to Bursa Malaysia today. The group's drilling segment saw lower activity in 1Q26, as its rigs were transitioning between projects, while activities in the operations and maintenance (O&M) segment were affected by seasonal factors. The group expects its financial performance to improve in the coming quarters, supported by progressive revenue recognition from ongoing E&C projects and the redeployment of drilling rigs under newly secured contracts. Sapura Energy group chief executive officer Muhammad Zamri Jusoh said the quarter reflects the timing mismatch between cost and revenue recognition, particularly in the E&C segment. "What's more important is that the underlying operations continue to deliver progress, and we expect a gradual rebound in the coming quarters," he added. On its prospects, Sapura Energy said it continues to pursue balance sheet realignment and its operational turnaround, as part of its financial turnaround. The group's unrestricted cash balance stood at RM1.85 billion as at April 30, 2025, underpinning business continuity while it advances its restructuring journey. The group's RM7.9 billion orderbook provides revenue visibility, with an additional RM4.8 billion representing its 50 per cent share in the non-consolidated order book held by joint ventures and associates. The group is also repositioning its E&C segment to align with shifting industry dynamics. This includes optimising the deployment of key assets - such as Sapura 3500 and Sapura 1200 - to regions with stronger market demand. In tandem, Sapura Energy's drilling segment aims to capitalise on its market leadership in tender-assist drilling solutions, by broadening its global reach, with strategic focus on Southeast Asia and Africa. The group is also pursuing the expansion of its O&M segment beyond Malaysia, actively targeting regional opportunities to strengthen and diversify its order book. "This is a transitionary phase for Sapura Energy," Zamri said. "We are focused on protecting value while positioning ourselves for future resilience. "Despite a challenging start to the financial year, we remain committed to restoring stakeholder confidence and delivering sustainable outcomes," he added.
New Straits Times
28-05-2025
- Politics
- New Straits Times
RM450mil flood mitigation project in Melaka gets green light
ALOR GAJAH: The federal government has approved RM450 million in funding for the Sungai Baru Flood Mitigation Plan (RTB) in Masjid Tanah, aimed at addressing recurring floods in the area. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh said the project will span a 15km stretch from Sungai Durian Daun to the mouth of Sungai Kuala Baru, and will include the construction of four flood retention ponds in Kampung Londang, Kampung Jeram, Kampung Lubuk Redan and Taman Gamelan. "This is a long-term initiative to tackle the flood problems affecting Masjid Tanah," he told reporters after visiting a Department of Irrigation and Drainage (DID) pump house as part of the Wakil Rakyat Untuk Rakyat (WRUR) engagement programme for the Lendu constituency at Taman Masjid Tanah Ria. Also present were State Secretary Datuk Azhar Arshad, State Science, Technology, Innovation and Digital Communications Committee chairman Datuk Fairul Nizam Roslan and Lendu assemblyman Datuk Seri Sulaiman Md Ali. For short-term flood prevention, Ab Rauf said the DID is implementing RM3.3 million worth of state-funded projects, including the installation of pumps, construction of pump houses and compact substations, and river maintenance works. Two existing flood retention ponds, Durian Daun and Solok Duku, are also undergoing rehabilitation at a combined cost of RM1.85 million, with completion expected by December. On a separate matter, Ab Rauf urged the state's stage bus operator to take greater responsibility for safety standards, calling for improved driver training following a series of fatal public transport accidents. He said several incidents were linked to negligent driving, resulting in loss of life. – Bernama
The Sun
28-05-2025
- Politics
- The Sun
RM450 mln flood mitigation project in Melaka gets green light
ALOR GAJAH: The federal government has approved RM450 million in funding for the Sungai Baru Flood Mitigation Plan (RTB) in Masjid Tanah, aimed at addressing recurring floods in the area. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh said the project will span a 15-kilometre stretch from Sungai Durian Daun to the mouth of Sungai Kuala Baru, and will include the construction of four flood retention ponds in Kampung Londang, Kampung Jeram, Kampung Lubuk Redan and Taman Gamelan. 'This is a long-term initiative to tackle the flood problems affecting Masjid Tanah,' he told reporters after visiting a Department of Irrigation and Drainage (JPS) pump house as part of the Wakil Rakyat Untuk Rakyat (WRUR) engagement programme for the Lendu constituency at Taman Masjid Tanah Ria. Also present were State Secretary Datuk Azhar Arshad, State Science, Technology, Innovation and Digital Communications Committee chairman Datuk Fairul Nizam Roslan and Lendu assemblyman Datuk Seri Sulaiman Md Ali. For short-term flood prevention, Ab Rauf said the DID is implementing RM3.3 million worth of state-funded projects, including the installation of pumps, construction of pump houses and compact substations, and river maintenance works. Two existing flood retention ponds, Durian Daun and Solok Duku, are also undergoing rehabilitation at a combined cost of RM1.85 million, with completion expected by December. Separately, Ab Rauf urged the state's stage bus operator to take greater responsibility for safety standards, calling for improved driver training following a series of fatal public transport accidents. He noted that several incidents were linked to negligent driving, resulting in loss of life.
