Latest news with #RM2.12mil
The Star
7 days ago
- The Star
GOF seizes over RM2mil worth of contraband cigarettes
KOTA BHARU: The General Operations Force (GOF) Southeast Brigade seized contraband cigarettes valued at RM2.12mil during three separate raids conducted under Ops Taring Alpha 1 in Tumpat from July 6 to 8. Its commander, Datuk Nik Ros Azhan Nik Ab Hamid, said the raids, conducted by a GOF team from Battalion 8, took place between 10.45pm and 3.30am at Kampung Kuala Tanjung Jetty, Jalan Kampung Morak and Pantai Geting. "As a result of the raids at all three locations, the operation team seized a total of 1,137,400 sticks of contraband white cigarettes. "In the raid at Jalan Kampung Morak, a 29-year-old man was also arrested on suspicion of being paid to deliver the smuggled cigarettes to a designated location. No arrests were made at the other two locations," he said in a statement on Wednesday (July 9). Nik Ros Azhan said all the seized items were handed over to the Criminal Investigation Department of the Tumpat District Police Headquarters for further action. – Bernama
The Star
22-05-2025
- Business
- The Star
Orgabio optimistic on instant beverage market growth
KUALA LUMPUR: Orgabio Holdings Bhd remains optimistic, supported by the instant beverage market's growth from US$61.64bil in 2023 to US$103.75bil by 2031, at a compound annual growth rate (CAGR) of 6.94%. 'Malaysia's premix market is also expected to grow from US$521.65mil in 2022 to US$835.85mil by 2029 (CAGR: 6.97%). Backed by this positive trajectory, the group will continue to pursue growth opportunities while managing costs prudently and strengthening its competitive positioning,' the instant beverage premix manufacturer said in a statement. In the third quarter ended March 31, Orgabio's net profit halved to RM1.09mil, or earnings per share of 0.44 sen, compared with RM2.12mil, or 0.85 sen, in the year-ago quarter. Revenue, however, climbed to RM28mil against RM22.4mil previously. For the nine months ended March 31, it posted a 9.4% increase in net profit to RM3.4mil, supported by a 44.3% rise in revenue to RM76.8mil. 'We are encouraged by the consistent growth in revenue, particularly from the domestic market. While profitability was impacted by temporary cost pressures and currency volatility, we remain focused on delivering sustainable performance and maintaining operational discipline,' chief executive officer and executive director Ean Yong Hien Voon said. 'With our newly completed factory commencing operations in April 2025, we are well-positioned to ramp up capacity progressively. This facility enhances our ability to serve a broader client base with a more diversified product portfolio and supports our entry into new markets.'
