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Barnama
22-06-2025
- Business
- Barnama
Cooperatives Urged To Implement Digitalisation Immediately To Remain Competitive
PUTRAJAYA, June 22 (Bernama) -- Coooperatives have been urged to implement digitalisation initiatives immediately and make full use of modern technology to ensure they remain competitive. Cooperatives Commission of Malaysia chairman Datuk Ahmad Norihan Jalal said the current business environment in Malaysia was challenging and required cooperatives to use technologies such as artificial intelligence (AI) and Internet of Things (IoT). 'We cannot be complacent, the business world will continue to change and cooperatives need to ride this wave of change. If cooperatives don't adapt, they will be left behind,' he said at a media conference after attending Koperasi Sahabat Amanah Ikhtiar Malaysia Berhad's (Koop Sahabat) annual general meeting here today. Ahmad Norihan said digitalisation would speed up various process in cooperatives, from internal administration to e-commerce, and will not only boost efficiency but open up more job opportunities. 'Digital transformation in cooperatives must be seen as a long term investment. AI, IoT and digital systems aren't new things,' he added. Ahmad Norihan praised Koop Sahabat for launching an AI-based virtual support system, YATI, that was capable of giving immediate feedback and speed up access for its members, stating that the cooperative was brave in being innovative. Meanwhile Koop Sahabat chairman Mohd Najib Mohd Noor announced a dividend of 10 per cent for the 2024 financial year involving a total of RM10.5 million for 449,848 members. 'Our revenue was rather high with a profit of RM37 million, about a 140 per cent rise from the previous year,' he said, adding that the Ar-Rahnu business was the highest contributor to the cooperative's revenue, followed by investments in real estate and housing projects. -- BERNAMA
The Sun
22-06-2025
- Business
- The Sun
Cooperatives urged to embrace digital tech for growth
PUTRAJAYA: Coooperatives have been urged to implement digitalisation initiatives immediately and make full use of modern technology to ensure they remain competitive. Cooperatives Commission of Malaysia chairman Datuk Ahmad Norihan Jalal said the current business environment in Malaysia was challenging and required cooperatives to use technologies such as artificial intelligence (AI) and Internet of Things (IoT). 'We cannot be complacent, the business world will continue to change and cooperatives need to ride this wave of change. If cooperatives don't adapt, they will be left behind,' he said at a media conference after attending Koperasi Sahabat Amanah Ikhtiar Malaysia Berhad's (Koop Sahabat) annual general meeting here today. Ahmad Norihan said digitalisation would speed up various process in cooperatives, from internal administration to e-commerce, and will not only boost efficiency but open up more job opportunities. 'Digital transformation in cooperatives must be seen as a long term investment. AI, IoT and digital systems aren't new things,' he added. Ahmad Norihan praised Koop Sahabat for launching an AI-based virtual support system, YATI, that was capable of giving immediate feedback and speed up access for its members, stating that the cooperative was brave in being innovative. Meanwhile Koop Sahabat chairman Mohd Najib Mohd Noor announced a dividend of 10 per cent for the 2024 financial year involving a total of RM10.5 million for 449,848 members. 'Our revenue was rather high with a profit of RM37 million, about a 140 per cent rise from the previous year,' he said, adding that the Ar-Rahnu business was the highest contributor to the cooperative's revenue, followed by investments in real estate and housing projects.
BusinessToday
20-06-2025
- Business
- BusinessToday
Commentary: Growing Foreign Reserves And What it All Means
Malaysia's central bank, Bank Negara Malaysia (BNM), recently reported an increase in its international reserves, reaching USD119.6 billion as of May 30, 2025, up from USD119.1 billion just two weeks earlier. This modest growth in foreign reserves signals positive developments in Malaysia's economy, reflecting its resilience in navigating global economic challenges. It highlights the country's ability to manage external pressures and provides a buffer against potential financial shocks. However, the key question remains: what does this mean for the everyday citizens? How can we interpret this trend as a sign of a strengthening economy, and how does it translate into tangible benefits for the people? Why Our Money Pile is Growing? One main reason our reserves are increasing is that Malaysia is selling more goods to other countries than it buys. For example, in April 2025, Malaysia sold RM10.5 billion more in goods than it bought, especially in electronics and gas. When we export a lot, more foreign money comes into the country. This extra foreign currency is then kept by BNM as part of its reserves. This shows Malaysia's strength in making and selling important products worldwide. Another big factor is that foreign investors are putting their money into Malaysian government bonds. These bonds offer better returns compared to those in countries like the U.S. or Japan, where interest rates might not be as good anymore. In May 2025 alone, foreign investors brought in RM2.6 billion. When these investors bring in foreign money and convert it to Ringgit to buy our bonds, it directly adds to BNM's foreign currency reserves. This trend highlights that investors trust Malaysia's economy. What This Extra Money Means for Malaysia? Having USD119.6 billion in reserves is a big deal. It means Malaysia has enough foreign money to pay for about 5 months of imported goods and services. This is well above the recommended 3 months by the IMF, a global financial body. This cushion helps Malaysia if import prices go up or if global trade faces problems. Also, these reserves are almost equal to our short-term foreign debts (0.9 times), showing that we don't rely too much on quick foreign loans to run our economy. This strong position makes us less vulnerable to sudden money outflows. Our reserves are also made up of different types of assets, which gives BNM more flexibility. Most of it, USD106.4 billion, is in foreign currencies. We also have USD5.8 billion in Special Drawing Rights (a type of international money from the IMF) and USD3.8 billion in gold. Having this mix of assets helps BNM act fast if there's a global money crisis or if a lot of foreign money suddenly leaves the country. It means BNM has many options to handle financial pressures. Impact on the Ringgit and Economic Policy This steady increase in our foreign reserves suggests that the Malaysian Ringgit might become more stable after being a bit weak. When investors worldwide see Malaysia has strong reserves and can attract foreign money, it makes them see Malaysia as a safe and attractive place among growing economies. This improved perception could boost confidence in the Ringgit, making its value more steady and potentially stronger against other major currencies. If our reserves keep growing, it means BNM will have more room to make decisions about our economy. For instance, BNM might be able to slightly lower interest rates if needed, without worrying too much about the Ringgit losing value or losing trust from investors. This flexibility is very important in today's uncertain global economy, allowing BNM to support Malaysia's economic growth without risking financial stability. Our 'Economic Shield' in a Shaky World Essentially, this rise in Malaysia's international reserves is more than just a number. It's a vital 'economic shield' that gives Malaysia significant power and freedom in managing its money and economy. In a world full of unclear interest rates, political tensions, and unpredictable supply chains, having a big financial buffer is extremely important. This 'shield' helps Malaysia handle unexpected global problems, like a sudden economic slowdown or a quick exit of foreign money, by lessening their impact. It also keeps investors confident, as they know BNM has the resources to protect the Ringgit and keep the financial system stable. Plus, strong reserves allow BNM to support economic growth when necessary, without being held back by a weak financial position. Overall, these strong reserves show Malaysia's smart economic planning and its ability to deal with global financial challenges. Conclusion As a conclusion, the growth in Malaysia's international reserves to USD119.6 billion is unequivocally a positive signal, extending beyond mere financial figures. For the average Malaysian, this translates into tangible benefits, a more stable Ringgit means greater purchasing power for imports and overseas travel, while reduced inflation helps stretch household budgets. Furthermore, these robust reserves act as a crucial national safety net, safeguarding jobs and businesses during global uncertainties and bolstering confidence in our financial system. Ultimately, this increased 'economic shield' empowers BNM to maintain stability and foster sustainable growth, directly enhancing the economic well-being and security of all Malaysians in a volatile global landscape. By Dr. Shahrul Azman Abd Razak Researcher and Islamic Finance Consultant Kuala Nerang, Kedah Related
The Star
16-06-2025
- Business
- The Star
Felda dispatches offer documents for FGV privatisation plan, closing july 7
KUALA LUMPUR: The Federal Land Development Authority (Felda) today said it has dispatched the offer documents for its plan to privatise FGV Holdings Bhd , with the offer closing at 5 pm on Monday, July 7, 2025, unless extended. In a filing with Bursa Malaysia, Felda said the offer, made via Maybank Investment Bank, will remain open for acceptance until the first closing date or such later date as may be determined and announced by Maybank on its behalf. The offer forms part of Felda's unconditional voluntary takeover bid to acquire all remaining FGV shares at RM1.30 each. Despite holding a collective 82.34 per cent stake through Felda and its subsidiary, Felda Holdings Company Sdn Bhd, the agency said it has limited influence over FGV's management as it does not control the board. "Upon successful privatisation, Felda will be better positioned to enhance FGV Group's operational and financial efficiencies by streamlining its upstream and downstream plantation operations. "Accordingly, Felda is offering holders the opportunity to realise their investment in the offer shares for cash at the offer price, representing a 9.91 per cent premium over the six-month volume-weighted average market price of RM1.1828 as at the latest practicable date (LPD),' it added. The latest bid, launched on May 26 at RM1.30 per share, mirrors Felda's earlier, unsuccessful attempt to privatise FGV in 2020. That year, Felda triggered a mandatory takeover offer after increasing its stake in FGV from 33.66 per cent by acquiring shares from Retirement Fund Inc (KWAP) and Urusharta Jamaah for RM658 million. FGV, which debuted in 2012 at RM4.55 a share, raised RM10.5 billion in one of Malaysia's largest initial public offerings. Its share price has since declined significantly, prompting repeated privatisation efforts. - Bernama
Daily Express
31-05-2025
- Business
- Daily Express
Life Water Berhad acquires Twinine
Published on: Friday, May 30, 2025 Published on: Fri, May 30, 2025 Text Size: Twinine recorded steady audited revenues of RM8.60 million in FY2022 and FY2023, and an unaudited RM8.50 million in FY2024, with a three-year average profit after tax (PAT) of RM0.91 million. Kota Kinabalu: Life Water Berhad, one of Sabah's leading beverage manufacturers, is taking a major leap beyond its core business with the RM10.5 million acquisition of Twinine Sdn Bhd, a seasoned player in the sauces and condiments market. Life Water Managing Director Liaw Hen Kong, said the move marks a significant milestone in Life Water's diversification strategy, while its core drinking water segment is set to grow by 40 percent with new production capacity coming online by the end of 2025. 'The acquisition was formalized via a Share Sale Agreement (SSA) to acquire 100 percent equity interest in Twinine, a company with over 35 years of experience and market presence across Sabah's West Coast, parts of Sarawak and Brunei,' he said in a statement. He said Twinine recorded steady audited revenues of RM8.60 million in FY2022 and FY2023, and an unaudited RM8.50 million in FY2024, with a three-year average profit after tax (PAT) of RM0.91 million. 'This is a strategic step forward in expanding our presence within the broader FMCG space. 'Twinine's product line complements our distribution capabilities, and we see clear potential to accelerate growth through cross-branding and tapping into shared consumer segments. We're particularly excited about bringing their products deeper into the East Coast of Sabah, where our existing network gives us a strong foothold,' he added. Advertisement As part of its integration plan, he said, the company will introduce dual-shift operations at Twinine's existing facility to boost production. 'The Group is also exploring the establishment of a new manufacturing site at the Kota Kinabalu Industrial Park to support long-term growth in the condiments category. Twinine's founder will remain on board for two years to guide the transition and help drive expansion plans,' Liaw said. The acquisition is expected to enhance group earnings and accelerate Life Water's entry into new consumer markets under its broader fast-moving consumer goods (FMCG) strategy. The company also revealed that its core drinking water operations are on track for a 40 percent capacity increase by the end of 2025. Liaw said The Group's new Keningau plant, operational since early this year, has already added 59 million liters of annual production, pushing total capacity to 448 million liters per annum. Further expansion is underway at the Sandakan Sibuga Plant 1, where a new manufacturing line is being commissioned and expected to be completed in the second half of 2025. 'This will add another 178 million liters of annual capacity, raising the Group's total production to 626 million liters—a 40 percent increase compared to current levels,' he said. The company also announced its financial performance for the third quarter ended 31 March 2025 (Q3FY25), reporting RM43.12 million in revenue—up 0.95 percent from the previous quarter—driven by seasonal demand for carbonated and fruit beverages. Liaw emphasised that the drinking water segment remained the largest contributor, accounting for 82.6 percent of revenue. The Group achieved a gross profit (GP) of RM19.52 million with a GP margin of 45.3 percent, while profit before tax (PBT) was RM8.11 million and PAT stood at RM6.48 million. Margins slightly moderated due to the implementation of the minimum wage policy and temporary inefficiencies linked to expansion. For the nine-month period ended March 31, Life Water recorded RM128.42 million in revenue and RM20.97 million in PAT, maintaining a solid PAT margin of 16.3 percent. With a two-pronged strategy of organic growth and strategic diversification, Life Water is positioning itself as a rising multi-category FMCG player in East Malaysia. The Twinine acquisition enhances its product offerings and opens new growth channels, while the expanded production footprint ensures continued leadership in the bottled water space. Liaw said, as consumer demand evolves and competition intensifies, Life Water remains optimistic about its growth trajectory for FY2025 and beyond. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
