Latest news with #RM11.6
Borneo Post
05-07-2025
- Business
- Borneo Post
State Government allocates RM11.6 million to YUM this year
Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor with YUM Tuaran members and families at Dewan Sri Sulaman Tuaran. TUARAN (July 5): The State Government has allocated RM11.6 million to Yayasan Usaha Maju (YUM) this year to continue its Micro Credit Programme aimed at empowering local entrepreneurs, particularly among low-income women. Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said the State Government is committed to assisting YUM in fulfilling its role by providing sufficient funds to allow it to operate and offer loan services to its members. Under the 12th Malaysia Plan, he said YUM had also been allocated a RM10 million grant for its loan revolving fund, in addition to the annual grant from the government to fund some of its loan programme operational costs. Speaking at the Tuaran YUM Family Day at the Dewan Sri Sulaman here on Saturday, the Chief Minister hoped YUM borrowers would repay their loans promptly, allowing more people to benefit from the programme. 'The success of borrowers in utilising the YUM loan effectively not only helps to increase their income, but also enables the agency to expand its efforts to assist more people in improving their livelihoods, thanks to a sufficient loan revolving fund. 'At the same time, YUM members must continuously enhance their business skills by participating in workshops, courses, training including those provided by other agencies, be innovative and to adopt the latest technologies in order to expand their respective business markets,' he said. YUM is a state trust body under the State Ministry of Finance that provides micro credit services aimed at assisting hardcore poor households to lift themselves out of poverty through loan capital for undertaking income-generating activities. 'Since its inception in 1995, Yayasan Usaha Maju has become one of the most important agencies in empowering the people's economy at the grassroots level, particularly among the rural and interior communities,' he said. The Chief Minister said YUM has disbursed RM805.25 million in loans, involving 152,021 loan units to 47,389 borrowers, with 18,888 members still having active loans. 'The loan repayment performance is also highly commendable, with a cumulative repayment rate exceeding 96 per cent. This indicates that the borrowers, all of whom are women, are good paymasters,' he said. Meanwhile, nearly 20 per cent of the YUM's borrowers who were previously below the poverty line have successfully achieved a monthly income surpassing the poverty line. 'This is a notable achievement and proves that YUM's loan programme is capable of increasing income and lifting people out of poverty,' he said. 'I would like to congratulate all the staff of YUM on this achievement, as well as all its members who have made the best use of this micro credit services. 'I hope that this year, Yayasan Usaha Maju will achieve even greater success,' he said.
Daily Express
05-07-2025
- Business
- Daily Express
RM11.6 million allocated to YUM for micro credit this year
Published on: Saturday, July 05, 2025 Published on: Sat, Jul 05, 2025 Text Size: Hajiji with YUM Tuaran members and families at the event. - Pic by CMD TUARAN: The State Government has allocated RM11.6 million to Yayasan Usaha Maju (YUM) this year to continue its Micro Credit Programme aimed at empowering local entrepreneurs, especially low-income women. Chief Minister Datuk Seri Hajiji Noor said the government remains committed to supporting YUM through sufficient funding to ensure its operations and loan services continue. Advertisement Under the 12th Malaysia Plan, YUM also received an additional RM10 million for its loan revolving fund, alongside the annual government grant for operational costs. Speaking at the Tuaran YUM Family Day on Saturday, Hajiji urged borrowers to repay their loans promptly to enable more people to benefit, noting that the current repayment rate exceeds 96 per cent. Since its establishment in 1995, YUM has disbursed over RM805 million in loans, and nearly 20 per cent of its borrowers have successfully risen above the poverty line. * 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
New Straits Times
10-06-2025
- Business
- New Straits Times
NCER records RM20.38 billion in realised investments in Kedah last year
ALOR STAR: The Northern Corridor Economic Region (NCER) recorded RM20.38 billion in realised investments in Kedah in 2024, a significant increase from RM11.6 billion the previous year. Northern Corridor Implementation Authority (NCIA) chief executive, Datuk Mohamad Haris Kader Sultan, attributed this achievement to close collaboration between the Kedah state government and the Malaysian Investment Development Authority (Mida). He said the positive investment trend had continued into 2025, with RM9.11 billion in realised investments recorded as of May 31, creating nearly 2,000 job opportunities. "This strong performance reflects the high level of confidence investors and industry players have in the future potential of Kedah and the northern region as a whole. "NCIA will continue to play a vital role, strengthening collaboration with the Kedah state government and relevant agencies to ensure investment realisation in the state meets the expectations of investors," he said in a statement issued after attending the Kedah NCER Steering Committee meeting, chaired by Menteri Besar Datuk Seri Muhammad Sanusi Md Nor. Meanwhile, Sanusi said that the NCIA had secured five investors for Phase 1 of the Kedah Rubber City (KRC) project, located in the Padang Terap district. He added that Tenaga Nasional Bhd (TNB) had completed the electricity infrastructure for KRC. "The state government will apply for funding from the Economy Ministry to upgrade the road connecting Pokok Sena to Padang Terap," he told reporters following the meeting. Sanusi also announced that the NCIA has attracted a potential investor for the Kedah Science and Technology Park in Bukit Kayu Hitam. In addition, the NCIA has completed the Integrated Community and Economic Centre (iCON) project in Yan, while the Baling iCON facility has reached 90 per cent completion. iCON is an extension of NCER's empowerNCER entrepreneurship development programme, aimed at improving community livelihoods and economic participation. Sanusi expressed his gratitude to the federal government for facilitating the smooth implementation of NCIA-led projects across the state.
The Sun
29-05-2025
- Business
- The Sun
Winstar Capital to expand production capacity with 4 lines at new RM14.5m plant
KUALA LUMPUR: Winstar Capital Bhd's new facility, currently under construction in Ijok, Selangor, will boost annual manufacturing capacity to 15,285 tonnes from 6,705 tonnes. The target will be achieved through the acquisition of four additional aluminium extrusion lines. 'The new facility and the acquisition of four additional aluminium extrusion lines are part of our growth strategy, which will significantly boost our production capacity. This expansion is a key step in meeting rising demand and strengthening our market position,' Winstar Capital CEO Chua Boon Hong told reporters after the company's annual general meeting today. Winstar Capital has commenced construction of a manufacturing facility adjacent to its existing plant in Ijok, aiming to support its growth ambitions and meet rising demand. Known as the Lot 903 Facility, the new site, with an estimated cost of RM14.50 million, spans some 80,000 square feet and is designed to accommodate four aluminium extrusion lines along with expanded storage space. Chua said the expansion is progressing well under the original schedule, despite the current tariff episode created by the US government, which has disrupted the global supply chain. 'We anticipate stronger demand coming from our customers towards the end of 2025. We are likely to bring forward the installation of another two new aluminium extrusion lines by the first quarter of 2026, instead of only installing them in the second quarter of 2026,' he added. The new facility is financed through a combination of bank borrowings and internally generated funds, of which RM11.6 million in loans have been secured. In its presentation, Winstar Capital noted that the strategic expansion will boost the group's operational efficiency. Construction began in April 2024 with operations expected to commence by the third quarter of this year. The estimated cost of acquiring the new extrusion lines is RM9.55 million, which will be funded primarily with the proceeds from its public issue. Should there be any shortfall, the group intends to cover the additional costs using bank borrowings and internally generated funds. Chua said, 'With this expansion, we will be able to offer a broader range of extruded aluminium profiles to meet the diverse needs of our customers. As of Dec 31, 2024, we had a total of approximately 5,954 stock-keeping units for our aluminium extrusion segment and the trading and distribution of building materials segment.' He said that with higher tariffs imposed on Chinese aluminium product manufacturers by the US government, Winstar Capital has received a growing number of inquiries from potential European and US customers considering purchasing aluminium products from Malaysian manufacturers. 'Many of them are actively looking for alternative suppliers in Southeast Asia to reduce their overreliance on Chinese manufacturers. This shift in global sourcing is creating new opportunities for us,' Chua stated. Winstar Capital recorded revenue of RM203.39 million for FY24, marking an increase of RM49.7 million or 32.3% compared to RM153.69 million in FY23. The increase was mainly attributable to higher revenue from the aluminium extrusion segment, which rose by RM32.84 million, mainly due to greater demand from customers in the construction and property development industries. In tandem with the revenue growth, the group's gross profit increased by RM6 million, or 19.8%, from RM30.35 million in FY23 to RM36.35 million in FY24. Despite the increase in gross profit, Winstar Capital reported a decrease in profit before tax (PBT) by RM2.09 million, or 17.8%, from RM11.72 million in FY23 to RM9.63 million in FY24. The PBT margin decreased from 7.6% in FY23 to 4.7% in FY24.
The Sun
24-04-2025
- Business
- The Sun
AME REIT Q4 rental income rises to RM13m
JOHOR BHARU: Industrial REIT AME Real Estate Investment Trust (AME REIT) delivered a 4.6% growth in rental income to RM13.1 million for the fourth quarter ended March 31, 2025 (Q4'25) from RM12.5 million in the previous corresponding quarter. The higher rental income supported a 1.6% increase in net property income (NPI) to RM11.6 million compared to RM11.4 million previously. The improved performance was mainly driven by income contributions from the acquisitions of two fully-leased industrial properties during Q4'25. For the 12 months ended March 31, 2025 (FY25), AME REIT generated total rental income of RM50.9 million, a 6% increase from RM48 million in the previous year, and NPI of RM46.4 million, rising 4.5% from RM44.4 million previously. AME REIT, in a statement said it will distribute RM9.7 million in distributable income for Q4'25, equivalent to a distribution per unit (DPU) of 1.83 sen. The distributable income is adjusted for gain in fair value of investment properties less deferred tax expenses, unbilled lease income receivables, management fees payable in units, and amortisation of capitalised financing costs. The Q4'25 income distribution is payable on May 30, 2025 to unitholders whose names appear in the Record of Depositors of AME REIT at the close of business on May 9, 2025. Total income distribution for FY25 will amount to RM39.2 million, representing 99.99% of distributable income for the year and resulting in a DPU of 7.43 sen. I REIT Managers Sdn Bhd CEO and executive director Chan Wai Leo said: 'AME REIT's Q4'25 performance reflects the positive impact of our accretive acquisitions, supporting stable rental income growth and consistent returns to unitholders. Our growth will be further fuelled by the ongoing purchase of five more fully-leased industrial properties in Iskandar Malaysia for a total purchase consideration of RM147.8 million from our sponsor AME Elite Consortium Bhd. The acquisitions, comprising 460,267 sq ft of ALA, are expected to be completed in phases between the third quarter of 2025 and the first quarter of 2026.' Going forward, he added they are focused on continued expansion in the Malaysian industrial property market to optimise sustainable long-term returns. AME REIT's portfolio includes 39 properties — 36 industrial units with 2.1 million sq ft of lettable space, and 3 industrial-related assets. Most are located in AME Group's industrial parks in Iskandar Malaysia. As at March 31, 2025, AME REIT's properties under management are valued at RM773.5 million.
