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New Straits Times
6 hours ago
- Business
- New Straits Times
Malaysia's June exports record surprise year on year fall of 3.5pct
KUALA LUMPUR: Malaysia's exports unexpectedly fell 3.5 per cent in June from a year earlier to their lowest since December 2023, after a decline in shipments of petroleum products, liquefied natural gas, chemicals, iron and steel and other metals, government data showed on Friday. June's exports had been expected to grow 5.5 per cent on an annual basis, according to a median forecast among economists surveyed by Reuters. Exports to major trading partners such as the United States, the European Union and Taiwan registered growth in June but exports to China fell by 9.3 per cent due to a fall in exports of LNG, chemicals and metals, the Trade Ministry said in a statement. Exports to the Asean region also fell 13.8 per cent following a reduction in demand for electrical and electronic goods as well as petroleum products, the Ministry added. Imports in June grew 1.2 per cent from a year earlier, data from the trade ministry showed, below the poll forecast of a 10 per cent increase. Malaysia recorded a trade surplus of RM8.6 billion (US$2.03 billion) in June, below the poll's forecast of RM10.8 billion.
The Star
08-07-2025
- Business
- The Star
Sapura Energy to convene EGM for shareholders' approval of regularisation plan
KUALA LUMPUR: Sapura Energy Bhd (SEB) will convene an extraordinary general meeting (EGM) on July 30, 2025, for shareholders to vote on its proposed regularisation plan aimed at restoring the company's financial health and exiting Practice Note 17 (PN17) status. In a filing with Bursa Malaysia today, SEB outlined four key components of the plan, which include capital reconstruction, debt restructuring, fundraising, and a proposed exemption for Malaysia Development Holding Sdn Bhd (MDH) and its partners from making a mandatory general offer. SEB said the capital reconstruction exercise involves a 99.99 per cent reduction and a 20-to-1 share consolidation, but neither exercise will affect the percentage shareholding of existing shareholders. The company also plans to reduce its borrowings from RM10.8 billion to RM5.6 billion under the debt restructuring proposal, which is expected to cut annual interest costs by 60 per cent or more than RM500 million. Meanwhile, MDH will subscribe up to RM1.1 billion in redeemable convertible loan stocks (RCLS) to help settle outstanding vendor payments in the local oil and gas ecosystem. The final component of the plan seeks to exempt MDH and its persons acting in concert from making a mandatory offer should they fully convert their RCLS. SEB said a dedicated shareholders' help desk will be set up from July 15 to assist with queries regarding the proposed regularisation plan. With shareholders' approval, the company aims to strengthen its equity position, improve liquidity and contract execution, restore market credibility, and eventually apply to exit its PN17 status upon recording two consecutive quarters of profit post-restructuring. Group chief executive officer Muhammad Zamri Jusoh described the proposals as a decisive step in shaping the company's future and determining whether it can transform into a resilient, profitable enterprise. "By addressing legacy liabilities, enhancing our equity base and securing strategic support, we are rebuilding the foundation for future profitability and shareholder returns. "We recommend that all shareholders vote in favour of these proposals and support SEB's recovery and value creation journey,' he added. - Bernama
New Straits Times
19-06-2025
- New Straits Times
Cops seize heroin base, MDMA worth RM10.8m at border [WATCH]
KUBANG PASU: Police have foiled attempts to smuggle into the country heroin base and MDMA powder worth RM10.8 million from Thailand following the separate arrests of two Malaysians on Sunday. The suspects, a 37-year-old man and a 35-year-old woman, were arrested in a joint operation involving Thailand's Narcotics Control Board Office, Penang's and Kedah's Narcotics Criminal Investigation Departments and the Kedah and Perlis Narcotics Secretariats. Bukit Aman Narcotics Investigation Department (Intelligence/Operations) acting director Deputy Commissioner Mat Zani @ Mohd Salahuddin Che Ali said the first arrest took place at 5.40pm when a man driving a Honda Accord was stopped at the Bukit Kayu Hitam Immigration, Customs, Quarantine and Security Complex. He said a search of the vehicle uncovered 160 plastic packets containing heroin base weighing approximately 59.2kg, hidden in a specially modified compartment behind the rear passenger seat. "Following the first arrest, we intercepted another Honda Accord driven by a female suspect at a petrol station along the North-South Expressway in Bukit Kayu Hitam," he said at a press conference at the Kubang Pasu police headquarters. "An inspection uncovered 155 transparent plastic packets containing compressed lumps believed to be heroin base and 35 plastic packets of powder suspected to be MDMA, weighing an estimated 2.37kg." Mat Zani said the drugs could have supplied some 7.8 million users. He added that 120.46kg of heroin base and 2.37kg of MDMA powder were seized, with an estimated street value of RM10.8 million. "The syndicate's modus operandi involved using modified private vehicles to smuggle drugs from a neighbouring country for processing in Penang. "The two suspects are unrelated and were paid up to RM20,000 each to transport the drugs into Malaysia." Checks confirmed that neither suspect had any prior criminal record. He said the seizure was the largest in the northern region to date, and further arrests were expected in both Malaysia and Thailand. The case is being investigated under Section 39B of the Dangerous Drugs Act 1952, which carries the death penalty or life imprisonment with a minimum of 12 strokes of the cane upon conviction. "Both suspects have been remanded for seven days from June 16 to 22 for further investigations. "Initial urine tests on both suspects returned negative for drug use."
The Sun
19-06-2025
- The Sun
Bukit Aman: Two held, drugs worth nearly RM11 million seized in Bukit Kayu Hitam
JITRA: Police foiled an attempt to smuggle heroin base and methylenedioxy-methamphetamine (MDMA) powder from Thailand with the arrest of two individuals in separate operations in Bukit Kayu Hitam on Sunday (June 15). Bukit Aman Narcotics Criminal Investigation Department (NCID) acting director DCP Mat Zani @ Mohd Salahuddin Che Ali said the operation, conducted in collaboration with Thai authorities, resulted in the seizure of 120.46 kilogrammes (kg) of heroin base and 2.37 kg of MDMA, with an estimated value of RM10.8 million. He said the arrests were made based on intelligence sharing and coordinated efforts between the Royal Thai Police, Kedah NCID, and Penang NCID. 'The first arrest involved a 37-year-old male suspect who was driving a Honda Accord. He was stopped at 5.40 pm at the Bukit Kayu Hitam Immigration, Customs, Quarantine and Security (ICQS) Complex, where an inspection uncovered 160 transparent plastic packages containing compressed heroin base, weighing 59.20 kg, hidden in a specially modified compartment behind the rear passenger seat. 'At 5.55 pm the same day, police intercepted another Honda Accord, this time driven by a 35-year-old woman, at a petrol station along the North-South Expressway, from the direction of the Bukit Kayu Hitam ICQS Complex,' he said. 'An inspection of a specially modified compartment behind the rear passenger seat uncovered 155 transparent plastic packages containing compressed heroin base weighing 61.26 kg, along with 35 packets of MDMA powder weighing 2.37 kg,' he told reporters at the Kubang Pasu police headquarters here today. Mat Zani said the syndicate's modus operandi involved using privately owned vehicles modified specifically for smuggling drugs from neighbouring countries into Malaysia, before transporting them for processing in Penang and other parts of the northern region. He added that the two suspects were believed to be acting as 'transporters' and were each paid RM20,000 to deliver the illicit substances. 'This was the syndicate's second attempt to smuggle drugs into the country, and successfully foiled,' he said, adding that police have identified other members of the syndicate and are working to detain them for further investigation. He said both suspects had no prior criminal records and tested negative for drugs. They have been remanded for seven days, starting June 16, to assist in investigations under Section 39B of the Dangerous Drugs Act 1952. 'Action has also been taken under the Dangerous Drugs (Forfeiture of Property) Act 1988, with three vehicles, estimated to be worth RM66,000, seized for further action,' he said.
New Straits Times
19-06-2025
- New Straits Times
Cops seize heroin base, MDMA worth RM10.8m at border
KUBANG PASU: Police have foiled attempts to smuggle into the country heroin base and MDMA powder worth RM10.8 million from Thailand following the separate arrests of two Malaysians on Sunday. The suspects, a 37-year-old man and a 35-year-old woman, were arrested in a joint operation involving Thailand's Narcotics Control Board Office, Penang's and Kedah's Narcotics Criminal Investigation Departments and the Kedah and Perlis Narcotics Secretariats. Bukit Aman Narcotics Investigation Department (Intelligence/Operations) acting director Deputy Commissioner Mat Zani @ Mohd Salahuddin Che Ali said the first arrest took place at 5.40pm when a man driving a Honda Accord was stopped at the Bukit Kayu Hitam Immigration, Customs, Quarantine and Security Complex. He said a search of the vehicle uncovered 160 plastic packets containing heroin base weighing approximately 59.2kg, hidden in a specially modified compartment behind the rear passenger seat. "Following the first arrest, we intercepted another Honda Accord driven by a female suspect at a petrol station along the North-South Expressway in Bukit Kayu Hitam," he said at a press conference at the Kubang Pasu police headquarters. "An inspection uncovered 155 transparent plastic packets containing compressed lumps believed to be heroin base and 35 plastic packets of powder suspected to be MDMA, weighing an estimated 2.37kg." Mat Zani said the drugs could have supplied some 7.8 million users. He added that 120.46kg of heroin base and 2.37kg of MDMA powder were seized, with an estimated street value of RM10.8 million. "The syndicate's modus operandi involved using modified private vehicles to smuggle drugs from a neighbouring country for processing in Penang. "The two suspects are unrelated and were paid up to RM20,000 each to transport the drugs into Malaysia." Checks confirmed that neither suspect had any prior criminal record. He said the seizure was the largest in the northern region to date, and further arrests were expected in both Malaysia and Thailand. The case is being investigated under Section 39B of the Dangerous Drugs Act 1952, which carries the death penalty or life imprisonment with a minimum of 12 strokes of the cane upon conviction. "Both suspects have been remanded for seven days from June 16 to 22 for further investigations.
