Latest news with #RM125
Daily Express
5 days ago
- Business
- Daily Express
Water filter refund claim thrown out
Published on: Friday, July 25, 2025 Published on: Fri, Jul 25, 2025 By: Crystal E Hermenegildus Text Size: The Tribunal accepted the respondent's position and noted that the Claimant had fully utilised the product since 2016, and had received all the agreed maintenance services up to this point. Kota Kinabalu: The Consumer Claims Tribunal has dismissed a claim by a man seeking continued maintenance or a full refund for a water filter that has since been discontinued by the manufacturer. Tribunal President Salmi Zalinah Abdul Rahim ruled that the manufacturer, Coway Malaysia Sdn Bhd, was not contractually obligated to continue servicing the product beyond the stated service period, especially after production and spare parts had ceased. The Claimant had purchased a Coway Villaem water filter on December 23, 2016, under a five-year instalment plan with monthly payments of RM125. After completing his payment contract, he continued subscribing to annual maintenance services, paying RM693 per year until the agreed maintenance period expiry on March 31, 2025. However, the claimant was informed by Coway that the periodic maintenance service for his unit would no longer be available after that date, as the Villaem model and its replacement parts were no longer in production. Dissatisfied, he filed a claim demanding either: the respondent continue the maintenance service for his existing unit, or the Respondent Coway refund him the full price of the water filter and accept its return so that he could purchase a new one. In response, Coway informed the Tribunal that the Villaem model had been discontinued since September 6, 2019, and spare parts would only be supplied while stocks lasted. It explained that the model had been replaced with the Villaem II in March 2019, and more recently by the Villaem III in December 2024. The respondent also referred to the terms and conditions of its Service Application Membership Form, which states that while it will make 'best effort' attempts to continue maintenance services after discontinuing a product, it is under no obligation to do so beyond a reasonable period, and customers are not entitled to damages or compensation if services cannot be sustained. The Tribunal accepted the respondent's position and noted that the Claimant had fully utilised the product since 2016, and had received all the agreed maintenance services up to this point. In her ruling, Salmi said it would not be reasonable for the Claimant to expect a full refund for a product that had been used extensively over a number of years. * 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
7 days ago
- New Straits Times
GOF seizes RM125,000 worth of vape products in Kelantan raid
KOTA BARU: The General Operations Force (GOF) seized 1,242 units of electronic cigarette liquid and 36 boxes of electronic cigarette devices in a raid on a premises in Jalan Jeli Kelewek, Tanah Merah on Monday. GOF Southeast Brigade commander Datuk Nik Ros Azhan Nik Ab Hamid said the seizure was carried out under Op Taring Wawasan Kelantan at 10.15pm. He said an inspection found that a 43-year-old local man in the premises failed to produce any valid ownership documents or storage permission for the liquid and vape devices from the Tanah Merah district council (MDTM). "A total of 1,242 units of liquid and 36 boxes of vape devices were found in the premises. The total seizure is estimated to be worth RM125,000, and the items have been handed over to the council for further action. "The case is being investigated under Sections 3(1) and 8(1) of the MDTM Business and Industrial Trade Licensing By-Laws 2019," he said in a statement today. –BERNAMA
The Star
7 days ago
- The Star
GOF seizes vape liquid, devices worth RM125,000 in Tanah Merah, Kelantan
KOTA BARU: The General Operations Force (GOF) has seized 1,242 units of vape liquid and 36 boxes of electronic cigarettes from premises in Jalan Jeli Kelewek, Tanah Merah. South-East Brigade commander Datuk Nik Ros Azhan Nik Ab Hamid (pic) said the seizure was carried out under Ops Taring Wawasan Kelantan at 10.15pm on Monday (July 21). He said an inspection of the premises found a 43-year-old local man present without any valid ownership documents and authorisation to possess and store the items from the Tanah Merah District Council. "A total of 1,242 units of liquid and 36 boxes of vape devices were found in the premises. The total seizure is estimated to be worth RM125,000 and the items have been handed over to the district council for further action. "The case is being investigated under Sections 3(1) and 8(1) of the council's Business and Industrial Trade Licensing By-Laws 2019,' he said in a statement on Wednesday (July 23). – Bernama
New Straits Times
15-07-2025
- Business
- New Straits Times
Econpile set for earnings surge after clearing project backlog
KUALA LUMPUR: With legacy projects now behind it and RM580 million worth of jobs in hand, Econpile Holdings Bhd is setting the stage for a sharper earnings recovery, according to CGS International. The research house said this marks a turnaround that could drive a surge of more than 600 per cent in core earnings per share (EPS) in the current financial year. CGS maintained its "Add" rating on the construction and piling specialist with a target price of 46 sen, representing a 21 per cent upside from its current price of 38 sen. "Econpile's orderbook is now free of lingering legacy issues, which should lead to better earnings and margin recovery as new projects kick in," it said in a research note. The company had previously encountered setbacks in several projects, including the Face 3 development, a Mont Kiara job and road upgrading works in Pahang. CGS noted that these issues have since been resolved. With legacy projects cleared, Econpile is expected to rebound from a net loss of RM25.2 million in FY25 to a net profit of RM21.6 million in FY26 and further to RM45.6 million in FY27, supported by stronger revenue recognition and more consistent project execution. This translates into core EPS growth of 652 per cent in FY26, followed by a further 111 per cent in FY27. Just two weeks into the new financial year that began on July 1, Econpile has already secured RM125 million worth of new jobs, or 31 per cent of its FY26 target of RM400 million. This includes a RM98.2 million contract for bored piling and basement works for Malaysia Milk's plant extension in Kapar, Klang, awarded by Eastmont Sdn Bhd and a RM27 million job for two serviced apartment blocks in Selangor. CGS expects more job wins ahead, supported by the rollout of government infrastructure, data centre and industrial building projects. It sees Econpile as a prime beneficiary, given its ownership of the largest fleet of bored pile rigs in Malaysia. "Key re-rating catalysts include the crystallisation of Econpile's memorandum of understanding for the Sungai Klang Link project, which could pave the way for RM1.4 billion worth of piling contracts," it said. Downside risks include potential delays in the rollout of large-scale infrastructure jobs and higher raw material costs, which could affect margins and order flows. With legacy issues resolved and strong job momentum early in the year, CGS said Econpile is well-positioned to deliver stronger results moving forward.
New Straits Times
14-07-2025
- Business
- New Straits Times
Econpile order book tops RM570mil, first above RM500mil since FY22
KUALA LUMPUR: Econpile Holdings Bhd's outstanding order book is currently estimated at around RM570 million, with new contract wins for the financial year 2026 (FY26) to date totaling RM125 million. In a note, RHB Investment Bank Bhd (RHB Research) highlighted that this marks the first time Econpile's order book has exceeded the RM500 million level since the third quarter of FY22, when it stood at RM550 million at the end of the first quarter of that year. "The group's tenderbook stands at approximately RM1 billion, comprising private and public sector jobs. "Potential rerating catalysts include faster-than-expected approval for the Sungai Klang Link project (worth RM300-RM500 million for piling works). "Profitability-wise, we expect gross profit margins for this latest job to be between five and eight per cent," it added. Meanwhile, RHB Research also highlighted that Econpile has announced its second job win for FY26 and its third win within a two-week timeframe. The group secured a RM98 million contract from Eastmont to undertake bored piling works for Blocks C and D, basement construction for Block C, and pile cap works for Block D within a proposed industrial development in Kapar, Klang. This is Econpile's largest contract win since October 2023. RHB Research said given that the majority of Econpile's contracts pertain to property development works, the latest win indicates the group's comeback in the industrial space. "The said project is expected to be completed within 13 months from July. "The last time Econpile clinched a job related to an industrial building was in April 2022, which was a RM23 million contract from CJ Synergy Solutions for a five-storey industrial building in Section 20, Petaling Jaya," it noted. Overall, RHB Research has maintained a "Buy" call on Econpile, with a higher target price of 48 sen from 42 sen previously. It remains positive on the group's track record in infrastructure jobs compared to other piling contractors. The firm also made no changes to the group's earnings estimates, as the latest win is within its FY26 job replenishment target.
