Latest news with #RM1.87
The Sun
2 days ago
- Business
- The Sun
Ancom Nylex posts RM63.5 million net profit for FY25 – a ‘demanding' year
PETALING JAYA: Southeast Asia's leading fully integrated chemical group Ancom Nylex Bhd registered revenue of RM1.87 billion for the financial year ended May 31, 2025 (FY25) compared to RM2 billion a year ago. The drop was attributed mainly to softer contributions from the industrial chemicals segment, due to lower selling prices and volumes. Meanwhile, FY25 net profit came in at RM63.5 million, down from RM81.5 million last year, primarily attributed to elevated freight costs and unfavourable foreign exchange fluctuations. For the fourth quarter of FY25 (Q4'25), the group posted revenue of RM459.4 million, compared to RM487.2 million in the same quarter last year. This was predominantly due to the lower contribution from the industrial chemicals business. On a positive note, the agrichem segment delivered revenue growth of 16.1% to RM135.4 million in Q4'25, up from RM116.6 million in Q4'24, driven by higher sales. At the bottom line, Q4'Y25 net profit stood at RM17.1 million compared to RM18.4 million last year. This was primarily due to elevated production costs in the agrichem business as well as a higher effective tax rate. Managing director and group CEO Datuk Lee Cheun Wei said FY25 has been a demanding year, marked by key geopolitical events that led to elevated freight costs and unfavourable foreign exchange fluctuations, which in turn impacted the group's overall performance. He said escalating tariffs and volatile trade conditions could further impact both global and domestic economic projections, making it increasingly challenging to predict trends in raw material costs and market prices. Despite these headwinds, Malaysia's economic growth is anticipated to remain positive over the next 12 months, with potential for further advancement should global conditions stabilise, Lee noted. 'On a much brighter note, we are pleased to share that the commercial production of our new active ingredient (AI) has commenced. Production yield has been increasing steadily, and deliveries to our customers are already under way. This marks an important milestone, further strengthening our position in the value chain and cementing our role as the sole large-scale producer of AI for herbicides in Southeast Asia,' he said in a statement. Turning to Ancom's MSMA-based products, Lee said the group continues to capitalise on its position as one of only two producers globally, seizing opportunities arising from the market demand gaps. 'The overall demand for our agrichem segment remains stable. Looking ahead, we anticipate the upcoming financial year (FY26) to be a better year for us, given the promising opportunities ahead while remaining vigilant of the headwinds.' For FY25, the group has paid a first interim dividend by distributing treasury shares on a 4:100 basis, as well as a second interim dividend by distributing treasury shares on a 1:100 basis. Ancom Nylex's financial position continued to improve, with net gearing improving to 0.29 times as of the end of May 2025, compared to 0.38 times at the close of the previous financial year (end of May 2024). Total borrowings declined to RM323.1 million at the close of the financial year under review compared to RM347.6 million as at 31 May 2024. Notably, more than 85% of the total borrowings are for short-term working capital needs.
Barnama
2 days ago
- Business
- Barnama
PETRA Approves 48 Renewable Energy Projects, To Generate RM1.87 Billion In Investments
PUTRAJAYA, July 18 (Bernama) -- The Ministry of Energy Transition and Water Transformation (PETRA), through the Sustainable Energy Development Authority (SEDA) Malaysia, has approved the development of 48 Renewable Energy (RE) projects from biogas, biomass and small hydropower sources, with a total capacity of 181.25 megawatts (MW), under the Feed-in Tariff (FiT) mechanism. PETRA, in a statement today, said the approved RE projects were expected to generate investments worth RM1.87 billion in the renewable energy sector and would begin supplying green electricity to Tenaga Nasional Bhd (TNB) from as early as 2028. "The implementation of new RE projects under the Feed-in Tariff mechanism is part of PETRA's commitment to increasing the share of RE in the national electricity supply mix to 70 per cent by 2050. "The effort to boost the capacity of biogas, biomass and small hydropower sources will also strengthen the reliability of the country's electricity supply by diversifying RE generation sources and providing firm or consistent electricity supply,' the statement read. The ministry said it was confident that the FiT mechanism-based RE initiative would serve as a catalyst for a more progressive and positive growth of the domestic renewable energy industry, in line with the core principles of Malaysia MADANI, which emphasised sustainability, innovation and shared prosperity. 'The government announced the offering and opening of FiT approval applications totalling 190MW for three RE sources – biogas, biomass and small hydropower – from Jan 15 to Feb 19, 2025. PETRA said the government had invited eligible RE developers to submit applications for participation in an e-bidding process during that period. A total of 59 applications were received, with 48 that met the prescribed technical and financial criteria approved. The approvals comprise 20 projects with a total quota of 30.93MW for green electricity generation from biogas, eight projects with a quota of 53.50MW (biomass), and 20 projects with a quota of 96.82MW (small hydropower).
The Sun
2 days ago
- Business
- The Sun
Malaysia approves 48 renewable energy projects worth RM1.87 billion
PUTRAJAYA: The Ministry of Energy Transition and Water Transformation (PETRA) has approved 48 renewable energy (RE) projects under the Feed-in Tariff (FiT) mechanism, expected to generate RM1.87 billion in investments. These projects, covering biogas, biomass, and small hydropower, will contribute 181.25 megawatts (MW) to Malaysia's energy grid, with operations starting as early as 2028. PETRA stated that the initiative aligns with Malaysia's goal to increase renewable energy's share in the national electricity supply to 70% by 2050. 'The diversification of RE sources will enhance grid reliability and ensure consistent electricity supply,' the ministry said. The government had opened applications for 190MW of FiT quotas earlier this year, receiving 59 submissions. Of these, 48 met technical and financial requirements, including 20 biogas projects (30.93MW), eight biomass projects (53.50MW), and 20 small hydropower projects (96.82MW). PETRA emphasised that the FiT mechanism will drive sustainable growth in Malaysia's RE sector, supporting the Malaysia MADANI vision of innovation and shared prosperity. Interested developers can view e-bidding results on SEDA Malaysia's official website. - Bernama
New Straits Times
2 days ago
- Business
- New Straits Times
Petra approves 48 renewable energy projects, to generate RM1.87bil in investments
PUTRAJAYA: The Ministry of Energy Transition and Water Transformation (PETRA), through the Sustainable Energy Development Authority (SEDA) Malaysia, has approved the development of 48 Renewable Energy (RE) projects from biogas, biomass and small hydropower sources, with a total capacity of 181.25 megawatts (MW), under the Feed-in Tariff (FiT) mechanism. PETRA, in a statement today, said the approved RE projects were expected to generate investments worth RM1.87 billion in the renewable energy sector and would begin supplying green electricity to Tenaga Nasional Bhd (TNB) from as early as 2028. "The implementation of new RE projects under the Feed-in Tariff mechanism is part of PETRA's commitment to increasing the share of RE in the national electricity supply mix to 70 per cent by 2050. "The effort to boost the capacity of biogas, biomass and small hydropower sources will also strengthen the reliability of the country's electricity supply by diversifying RE generation sources and providing firm or consistent electricity supply," the statement read. The ministry said it was confident that the FiT mechanism-based RE initiative would serve as a catalyst for a more progressive and positive growth of the domestic renewable energy industry, in line with the core principles of Malaysia MADANI, which emphasised sustainability, innovation and shared prosperity. "The government announced the offering and opening of FiT approval applications totalling 190MW for three RE sources – biogas, biomass and small hydropower – from Jan 15 to Feb 19, 2025. PETRA said the government had invited eligible RE developers to submit applications for participation in an e-bidding process during that period. A total of 59 applications were received, with 48 that met the prescribed technical and financial criteria approved. The approvals comprise 20 projects with a total quota of 30.93MW for green electricity generation from biogas, eight projects with a quota of 53.50MW (biomass), and 20 projects with a quota of 96.82MW (small hydropower). Further details on the e-bidding results under the Feed-in Tariff mechanism managed by SEDA Malaysia are available on its official website at
Barnama
3 days ago
- Business
- Barnama
Ancom Nylex's Net Profit For FY2025 Slips To RM63.49 Mln
BUSINESS KUALA LUMPUR, July 17 (Bernama) -- Ancom Nylex Bhd's net profit for the financial year ended May 31, 2025 (FY2025) slipped to RM63.49 million compared to RM81.47 million recorded in FY2024. Revenue fell to RM1.87 billion from RM1.99 billion previously, the group said in a filing with Bursa Malaysia today. Ancom said the lower revenue was largely due to softer contributions from the industrial chemicals segment caused by lower selling prices and volumes, while weaker net profit was chiefly attributed to elevated freight costs and unfavourable foreign exchange (forex) fluctuations. Its managing director and group chief executive officer, Datuk Lee Cheun Wei, said FY2025 has been a demanding year, marked by key geopolitical events that led to elevated freight costs and unfavourable forex fluctuations, which in turn impacted the overall performance. 'Escalating tariffs and volatile trade conditions could further affect both global and domestic economic projections, making it increasingly challenging to anticipate trends in raw material costs and market prices. 'Despite these headwinds, Malaysia's economic growth is anticipated to remain positive over the next 12 months, with potential for further advancement should global conditions stabilise,' he said. For the fourth quarter ended May 31, 2025 (4Q 2025), the group registered a lower net profit of RM17.071 million from RM18.44 million registered in 4Q2024, while revenue fell to RM459.4 million from RM487.2 million previously. For FY2025, the group has paid a first interim dividend by way of distribution of treasury shares on the basis of four treasury shares for every 100 shares, as well as a second interim dividend by way of distribution of treasury shares on the basis of one treasury share for every 100 shares. -- BERNAMA
