Latest news with #RM16.2
New Straits Times
6 days ago
- Automotive
- New Straits Times
OSK's entry into motorcycle financing offers fresh growth, says HLIB
KUALA LUMPUR: OSK Holdings Bhd's move into motorcycle financing opens up a new growth opportunity in an expanding market while helping diversify its risk across various customer segments. According to Hong Leong Investment Bank (HLIB), OSK is not entering the segment from scratch and the acquisition of Wilayah Credit provides a faster entry, as the company already has strong dealer networks and operational expertise. HLIB said it also comes with a valuable customer database and credit behaviour insights, which OSK can leverage across its broader financing ecosystem. "With OSK's strong treasury team and ability to secure competitive funding, there is potential to scale up the loan portfolio more effectively post-acquisition," it said. HLIB noted that OSK has agreed to acquire Wilayah Credit for RM16.5 million, a sum that is around RM300,000 higher than its net assets of RM16.2 million, translating to a premium of roughly 7.7 per cent after factoring in the disposal of shop lots. The research firm said the premium is justified, as the real value of the acquisition goes beyond physical assets. It includes intangible advantages such as a robust customer database, long-standing dealer relationships, and a solid market presence, which are not reflected in the balance sheet. "While the acquisition is modest in size, it reflects OSK's proactive approach to managing and diversifying its risk," the firm said. HLIB has reiterated its 'Buy' recommendation on OSK, keeping the target price unchanged at RM2.00. The firm highlighted OSK's attractive multi-engine growth story, driven by the rapid expansion of its private credit segment, which has recorded a strong five-year compound annual growth rate (CAGR) of 24.8 per cent and is becoming a major contributor to the group's overall growth.
New Straits Times
24-06-2025
- Entertainment
- New Straits Times
#SHOWBIZ: HK actor Moses Chan says wife Aimee manages his finances
HONG KONG: TVB actor Moses Chan is no stranger to success in Hong Kong's film industry. With a reported annual income of HK$30 million (RM16.2 million), the 54-year-old is the highest-paid artiste of the broadcasting company. But rather than managing that fortune on his own, Chan entrusts them to his wife, Hong Kong-based Canadian actress Aimee Chan. In a recent report by JayneStars, Moses revealed that Aimee, 44, takes charge of their household expenses. "I handle matters outside the home while Aimee looks after the kids. She's great at managing everything, so I leave the household finances to her. When it comes to business and signing contracts, that's where I step in," he said. The award-winning actor added that he and his wife are transparent about where their money goes. "Aimee has her own money, but mine is shared. I don't have personal savings. As a man, I believe in taking responsibility for the future of my family. That's what being a real man is about," he said. Moses and Aimee, who share three children, recently celebrated their 12th wedding anniversary.
Malaysian Reserve
23-06-2025
- Business
- Malaysian Reserve
FoundPac sells loss-making SDKM stake for RM250,000 in strategic refocus
FOUNDPAC Group Bhd has disposed of its entire 70% equity stake and all redeemable convertible preference shares in SDKM Technologies Sdn Bhd for RM250,000 in cash to SDKM director and shareholder Kameda Shin, as part of a strategic exit from the loss-making unit. The disposal, completed today, through wholly owned subsidiary FoundPac Capital Sdn Bhd, includes 6.3 million ordinary shares and 5 million preference shares in SDKM. The company said the deal is part of its broader restructuring strategy aimed at strengthening its financial position and focusing on its profitable precision engineering business. SDKM, which manufactures accessory cables and connectors, has posted cumulative losses exceeding RM16.2 million since FY2022, with negative shareholders' funds of RM0.6 million as of May 2025. In conjunction with the sale, FoundPac also wrote off RM7 million in inter-company loans to SDKM. 'The proposed disposal is necessary and represents a strategic step towards strengthening FoundPac Group's financial position and footing,' the company said in its filing. The transaction will result in an estimated RM8.31 million loss for the group in FY2025, but FoundPac said the long-term benefits, particularly reduced financial strain and sharper operational focus, outweigh the short-term hit. The RM250,000 proceeds will be used for working capital. Upon completion, SDKM will cease to be a subsidiary of FoundPac. — TMR
New Straits Times
29-04-2025
- Business
- New Straits Times
Malaysia digital initiatives secures RM16.2bil worth of investments in four months
GEORGE TOWN: The total approved investments under the Malaysia Digital (MD) initiative reached RM16.2 billion from January to April this year, backed by strong global investor confidence, said Digital Minister Gobind Singh Deo. The minister said the investment momentum is expected to generate almost 6,500 job opportunities and reinforce Malaysia's position as a regional digital leader. He said that out of the total approved investment, RM9.9 billion or more than 60 per cent, was contributed by data centres and cloud investments. "From an innovation lens, AI (artificial intelligence) companies now make up the largest share of new MD status companies at 27 per cent, followed by data centres (23 per cent) and Global Business Services (11.5 per cent). "Investor confidence in Malaysia remains strong. Our top five sources of foreign direct investments include the Netherlands, Singapore, Hong Kong, India and the United Kingdom, a reflection of our robust infrastructure and investor-friendly policies," he said when delivering his keynote speech at the MD Open Day 2025 here, today. Also present were Penang Deputy Chief Minister II Jagdeep Singh Deo, Penang Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari and Malaysia Digital Economy Corporation (MDEC) non-executive chairman Syed Ibrahim Syed Noh. Therefore, Gobind said those achievements reaffirmed Malaysia's appeal as a leading digital investment destination and, more importantly, reflect the real-world impact we are driving across our economy and workforce. Elaborating, he said to date, Malaysia has hosted 3,891 active MD companies, including 254 in the northern region, and currently, Penang alone has attracted RM1.23 billion in MD-approved investments, with 266 jobs expected to be created. "While 93 per cent of these investments are driven by data centres and cloud, more than 60 per cent of job opportunities are in high-value sectors such as IC (integrated circuit) design and embedded software," he added. The MD Open Day 2025 is a dedicated platform for engagement between MD-status companies, investors, government agencies, and key stakeholders within Malaysia's digital economy ecosystem. The event also marked the official launch of the Digital Ministry's northern regional office, reinforcing the government's commitment to regional empowerment and nationwide alignment.
New Straits Times
29-04-2025
- Business
- New Straits Times
Malaysia digital initiatives secures RM16.2 bil worth of investments in four months
GEORGE TOWN: The total approved investments under the Malaysia Digital (MD) initiative reached RM16.2 billion from January to April this year, backed by strong global investor confidence, said Digital Minister Gobind Singh Deo. The minister said the investment momentum is expected to generate almost 6,500 job opportunities and reinforce Malaysia's position as a regional digital leader. He said that out of the total approved investment, RM9.9 billion or more than 60 per cent, was contributed by data centres and cloud investments. "From an innovation lens, AI (artificial intelligence) companies now make up the largest share of new MD status companies at 27 per cent, followed by data centres (23 per cent) and Global Business Services (11.5 per cent). "Investor confidence in Malaysia remains strong. Our top five sources of foreign direct investments include the Netherlands, Singapore, Hong Kong, India and the United Kingdom, a reflection of our robust infrastructure and investor-friendly policies," he said when delivering his keynote speech at the MD Open Day 2025 here, today. Also present were Penang Deputy Chief Minister II Jagdeep Singh Deo, Penang Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari and Malaysia Digital Economy Corporation (MDEC) non-executive chairman Syed Ibrahim Syed Noh. Therefore, Gobind said those achievements reaffirmed Malaysia's appeal as a leading digital investment destination and, more importantly, reflect the real-world impact we are driving across our economy and workforce. Elaborating, he said to date, Malaysia has hosted 3,891 active MD companies, including 254 in the northern region, and currently, Penang alone has attracted RM1.23 billion in MD-approved investments, with 266 jobs expected to be created. "While 93 per cent of these investments are driven by data centres and cloud, more than 60 per cent of job opportunities are in high-value sectors such as IC (integrated circuit) design and embedded software," he added. The MD Open Day 2025 is a dedicated platform for engagement between MD-status companies, investors, government agencies, and key stakeholders within Malaysia's digital economy ecosystem. The event also marked the official launch of the Digital Ministry's northern regional office, reinforcing the government's commitment to regional empowerment and nationwide alignment.
