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New Straits Times
4 days ago
- Business
- New Straits Times
Glomac's Q4 earnings fall on tax expenses, revenue rises 20pct
KUALA LUMPUR: Glomac Bhd recorded an 84 per cent drop in net profit to RM2.41 million for the fourth quarter ended April 30, 2025 (4QFY25) from RM15.2 million a year earlier, due to higher tax expenses. Despite the profit decline, Glomac's revenue rose 20 per cent to RM74.9 million from RM62.4 million previously, driven by steady progress at its ongoing property development projects. For the full financial year, Glomac's net profit fell 33 per cent to RM15.6 million from RM23.6 million, while revenue slipped 10 per cent to RM238.3 million from RM267.6 million last year. The property developer proposed a single-tier final dividend of 1.25 sen per ordinary share for the financial year 2025 (FY25), pending approval from shareholders at the upcoming annual general meeting. This comes after the single-tier interim dividend of 1.0 sen per share paid in December 2024, bringing the total dividend payout for FY25 to 2.25 sen per share. Looking ahead to the financial year 2026, Glomac aims to maintain its launch momentum while continuing to take a disciplined and market-driven approach in introducing new products. "Glomac is planning new launches with a total estimated gross developmental value (GDV) of RM324 million, comprising entirely of landed residential properties. "Key upcoming launches include two new phases of double-storey terrace houses at Serai@SBCR and a new phase of semi-detached homes at KEYS, Lakeside Residences," it said. Glomac said it remains in a strong financial position to support its future development plans, backed by healthy cash reserves and minimal net gearing. The company also enhanced its capital structure with the establishment of a sukuk Wakalah programme, offering a funding capacity of up to RM3.0 billion.
Borneo Post
22-06-2025
- Business
- Borneo Post
48 weekly markets upgraded in Sabah to boost rural economy, food security
Arthur (second from left) after officiating the Pasar Tamu at Rancangan Belia Tiulon in Sook. SOOK (June 22): A total of 48 pasar tamu (weekly markets) across Sabah have been successfully upgraded or newly constructed under a Federal Agricultural Marketing Authority (FAMA) initiative, aimed at strengthening rural economic activity and supporting the National Food Security Policy. Deputy Minister of Agriculture and Food Security, Datuk Arthur Joseph Kurup, said the projects — funded with an allocation of RM15.6 million from the Federal Government — are now fully completed. Speaking to the media after officiating the upgraded Pasar Tamu at Rancangan Belia Tiulon in Sook, Arthur noted the transformation these projects brought to rural trading facilities. 'Previously, traders here used only wooden tables and canvas sheets to shield themselves from the sun and rain. With the upgraded infrastructure, I see great potential for further development,' he said. The Pasar Tamu at Rancangan Belia Sook, established in 2021 with just eight traders, has since expanded to include 40 regular vendors. The market upgrade, which began on 25 September 2024, was completed on 2 April 2025. Arthur, who is also the Member of Parliament for Pensiangan, said the upgrades reflect the government's commitment to empowering rural agro-entrepreneurs by providing more comfortable and conducive business environments. 'These projects were carried out in phases, prioritising markets most in need of repair or those no longer suitable for use. The upgraded markets are expected to boost the competitiveness of local agricultural products and spur local economic activity,' he said. The officiating event drew participation from the local community, including village leaders, government officials, and agro-based entrepreneurs. Also present were FAMA Director-General Abdul Rashid Bahri, FAMA Sabah and Labuan director Sarman Sidno and FAMA Market Institution Division director Mohd Shahrizan Mansor. With the upgraded facilities, the pasar tamu now offers a more systematic and appealing space for local entrepreneurs while serving as a weekly economic and social hub. It is hoped that the initiative will not only foster entrepreneurship but also preserve the traditional market culture that defines Sabah's rural communities.
