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New Straits Times
17 hours ago
- Automotive
- New Straits Times
Electric Rapid Buses on Malaysian roads by 2026
KUALA LUMPUR: The government is expected to roll out electric-powered Rapid Buses starting from the second quarter of next year, says Transport Minister Anthony Loke. He said the tender had already been called and the awarding of the contract would be made soon. "The tender has closed. The appointment of the contractor will be made soon. It will take around 12 months to complete. "Our condition is that these buses must be built locally. Even though the technology may come from other countries, the assembly must be done in our country so that we can benefit from technology transfer and provide opportunities to local companies," he said after the unveiling ceremony of new diesel-powered Rapid Buses for Rapid KL and Rapid Penang. Loke added that Prasarana Malaysia Bhd (Prasarana) would receive the buses in phases, possibly starting from the second quarter after it has received all the diesel-powered buses. It would be the last diesel-powered buses to be received by Prasarana. Prasarana is the owner and operator of Rapid Bus. In March, Finance Minister II Datuk Seri Amir Hamzah Azizan said the ministry allocated RM1.9 billion to Prasarana to purchase 1,660 new diesel and electric buses in stages over a period of three years. He said 310 of the buses would be diesel-engine units, the last batch to use that engine type, while the remaining units would be electric vehicles.
New Straits Times
27-06-2025
- Business
- New Straits Times
Poh Huat earnings under pressure amid cost surge, tariffs
KUALA LUMPUR: Furniture manufacturer Poh Huat Resources Holdings Bhd is likely to see softer near-term earnings, weighed down by persistent inflation, rising operating costs, and the appreciation of the ringgit, according to Public Investment Bank Bhd (PublicInvest). The company's key export market, the United States, has seen buyers take a cautious stance after having front-loaded orders in anticipation of higher tariffs. "This is worsened by the fact that customers are now adopting a wait-and-see strategy after they had front-loaded orders ahead of higher tariff implementation. "On a positive note, a slight rebound in office furniture orders is expected next quarter, as some customers have confirmed orders and are expediting their shipments within the 90-day tariff grace period," it said. PublicInvest has also revised Poh Huat's financial year 2025 to 2027 (FY25-FY27) earnings forecast downwards by approximately 20-50 per cent. It said this is to factor in the persistent inflationary pressures, rising operational costs and global trade uncertainties stemming from the imposition of import tariffs by the US. The firm has maintained an "Underperform" call on Poh Huat, with a lower target price of RM0.90 from RM1.16 previously. Poh Huat's headline net profit for the second quarter (2Q) of FY25 declined by 92.0 per cent year-on-year (YoY) to RM0.6 million. The sharp decline was attributed to lower orders and shipments of office furniture from its Malaysian operations, higher material and labour costs, and a decline in net other income due to a foreign exchange loss of RM1.9 million, compared to a gain of RM2.3 million in the same quarter last year. Excluding non-operating items, Poh Huat's first half (1H) of FY25 core net profit of RM10.9 million came in below PublicInvest's and consensus estimates at 28.7 per cent and 32.8 per cent of full-year forecasts, respectively. "The discrepancy in our forecast was mainly due to the lower-than-expected contribution and higher operating costs from the Malaysian operations," PublicInvest noted. The group's revenue also declined to RM98.3 million in 2Q25, mainly due to reduced office furniture shipments from Malaysia, as customers had front-loaded orders ahead of the second presidency of Donald Trump and anticipated trade barriers. Its home furniture shipments from Vietnam also remained weak, with some US customers holding back orders in April 2025 due to new import tariffs. Nevertheless, Poh Huat had declared a second interim dividend of two sen for the financial period.
New Straits Times
17-06-2025
- Business
- New Straits Times
Iran-Israel conflict to drive up export costs, says Johari Ghani
KUALA LUMPUR: The escalating conflict between Iran and Israel is expected to impact the country's commodity export industry, particularly through a sharp increase in logistics and transportation costs, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. He said although the demand for key commodities such as rubber and palm oil is not expected to be directly affected, as they are essential goods, disrupted shipping routes will cause export costs to soar. Johari said shipping companies are now forced to avoid risky areas and choose alternative routes that are longer, or unload goods at safe ports before transporting them by land, thus increasing costs. "When there is a war like the one between Iran and Israel, the logistics costs of products bound for the region will increase. Transportation costs can rise by up to three times. "As a country that is highly dependent on international trade, any disruption in the world's geopolitical landscape will definitely affect us. "Our GDP (Gross Domestic Product) is around RM1.9 trillion. But our trade volume with the world is almost RM2.8 trillion, almost RM3 trillion. This means we are very dependent on trade. So when international trade is affected, it will indirectly affect us," he said. Johari said this at the launch of the Industry Linkage Fund (ILF) 2.0 and the enhancement of the Automation and Green Technology Fund (FAT-G), organised by the Malaysian Rubber Council, here today. Johari said, for example, that the cost of sending a container to West Africa used to be around US$1,200 (RM5,089), but it can now reach up to US$3,000 (RM12,722) — and at one point, even hit US$6,000 (RM25,443) — due to geopolitical risks. He, however, assured that the fundamentals of the country's commodity industry remain strong because Malaysia's main markets, namely India, China, and the European Union are still stable and not directly affected by the conflict. "Demand for food and essential products such as rubber gloves will always be there. The only challenge now is to manage the increasing logistics costs so that the competitiveness of our products is not affected," he said. Recognising the increasingly complex external challenges, Johari said that local industries need to continue to strengthen their resilience through innovation and efficiency improvements. "This is why funds like the ILF and FAT-G are so important. They aim to help local companies, especially small and medium enterprises, to invest in technology, automation, and research and development to produce high-value-added products that are more competitive in the global market," he said.
Borneo Post
12-06-2025
- Business
- Borneo Post
S'wak entrepreneurs see RM1.9 mln sales boost in 2024 through Insken business coaching
(Front, from fourth left) Mustaffa, Ripin, Muhamad Hafez, and Dr Izham in a group photo with certificate recipients and representatives of Sarawak-based agencies and NGOs during the ceremony. KUCHING (June 12): A total of 119 Sarawakian entrepreneurs under the Insken Bumiputera Business Coaching (IBBC) programme recorded a sales increase of RM1.9 million in 2024, according to National Institute of Entrepreneurship (Insken) chairman Mustaffa Kamil Ayub. Speaking at the Program Seminar Usahawan Madani Asas Pembangunan Produk dan Servis (SAPPS) at Kuching South City Council (MBKS) Auditorium here today, he highlighted the tangible outcomes of the IBBC programme. 'In 2024, a total of 1,046 Sarawak entrepreneurs participated in Insken programmes. Of these, 119 received guidance through the IBBC, resulting in RM1.9 million in increased sales, 93 new jobs created and 10 entrepreneurs moving from micro to small enterprise status,' he said. Mustaffa emphasised that continuous learning and entrepreneurial knowledge play a major role in success. 'The knowledge shared is not just theoretical – it produces real impact and tangible results,' he added. He said Insken programmes, including the SAPPS, offer training, seminars, and coaching focused on boosting sales and creating job opportunities. 'SAPPS is not just an ordinary seminar. Today, 30 selected entrepreneurs are undergoing product and service assessments with coaches and industry players to receive direct feedback aimed at strengthening their products for the market.' The seminar, now in its second edition in Sarawak, is a collaboration between Insken, Human Resource Development Corporation (HRD Corp), the State Ministry of International Trade, Industry and Investment (Mintred), as well as local agencies and entrepreneurial non-governmental organisations (NGOs). Mustaffa expressed appreciation to all parties involved, as well as to State Deputy Minister for Youth, Sports and Entrepreneur Development Sarawak Datuk Dr Ripin Lamat, who officiated the event. He noted that Insken has a branch in Kuching as part of its long-term commitment to supporting entrepreneurs across Sarawak. 'Our presence here is not symbolic. It is a concrete effort to expand access to quality entrepreneurial programmes,' he said. In conjunction with the seminar, Insken is also hosting an e-BizClinic, offering free consultations by Insken's BisKaunselor, alongside information booths on training and guidance available beyond the seminar. In this regard, Mustaffa urged participants to take full advantage of the opportunities available. 'Let the knowledge gained here not just be stored, but implemented as a strategy to elevate your business to greater heights.' Also present were Insken director of Training Ts Dr Izham Naquiddin Shah Arif Shah and HRD Corp head of regional operations division Muhamad Hafez Kamaruddin. entrepreneurs IBBC Insken Bumiputera Business Coaching Kuching
Borneo Post
29-05-2025
- Health
- Borneo Post
Kuching's Hospital Sentosa receives RM946,000 equipment donation
Dr Sim (seated centre) and other guests (from left) Wee, Yevette, Larry, Dr Rosliwati, Yap in a photo call with the hospital staff members at the handover ceremony today. – Photo by Jude Toyat KUCHING (May 29): Hospital Sentosa here today received a donation of medical and non-medical equipment worth RM946,000 from The Church of Jesus Christ of Latter-day Saints, facilitated by the Rotary Club of Urban Kuching. The handover ceremony, held at the hospital, was officiated by Deputy Premier Datuk Amar Dr Sim Kui Hian, who is also Public Health, Housing and Local Government Minister. In his keynote address, Dr Sim expressed appreciation to both organisations for their generous contribution, which he said would significantly enhance mental healthcare services in the state. 'This morning, we are coming together not just to deliver love, but actually deliver with patience and enthusiasm,' he said. The donation is part of a broader initiative totalling RM1.9 million, which also saw Hospital Bau receiving RM511,000 worth of equipment on May 26, and Hospital Lundu receiving RM395,000 on May 27. Dr Sim commended Elder Larry and Sister Yevette Hathaway of The Church of Jesus Christ of Latter-day Saints, headquartered in Salt Lake City, Utah, for their dedication and contributions. He said the contribution is aimed at strengthening hospital operations by equipping healthcare professionals with essential tools, especially in the field of mental health. 'Even though Hospital Sentosa is the only major specialist hospital institute to focus on mental health in Sarawak, this shows how inclusive it is. 'It's always very hard in our community when you say mental hospitals, everybody has this stigma, but they forget that mental health now is really quite common and crying for help in the community,' he said. Dr Sim also highlighted the pressing need for healthcare development in Sarawak, stating that 70 per cent of the state's healthcare facilities are currently in a dilapidated state. He reiterated Sarawak's call for greater autonomy in healthcare management under Article 95C of the Federal Constitution, in line with the Malaysia Agreement 1963. He noted that the Sarawak government remains committed to improving healthcare infrastructure, citing the state's RM1 billion allocation for the upcoming cancer hospital in Kuching. He further emphasised the importance of collaboration between local and international partners to enhance public health services, stating that the impact of current efforts will be felt for years to come. 'What you do today, in 20 years, may be very different. You have to sow the seed. Whether through government efforts or other initiatives, we will continue to evolve and transform,' he said. Also present were Kota Sentosa assemblyman Wilfred Yap, Hospital Sentosa director Dr Rosliwati Mohd Yusoff and Nigel Wee, who represented the President of the Rotary Club of Urban Kuching.
