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BusinessToday
3 days ago
- Business
- BusinessToday
Top Glove Saw Q3 Profits Decline 32% To RM34 Million
Top Glove Corporation Bhd announced its third quarter ended (3QFY2025),and nine months ended May 31, 2025 (9MFY2025), The group reported a sales revenue of RM2.6 billion, representing a notable year-on-year increase of 55%. Profit After Tax and Minority Interest (PATAMI) saw an uptick of 222% to RM71 million compared to 9MFY2024, while Sales Volume also growing by 65% over the corresponding period. In 3QFY2025, the Group recorded Sales Revenue of RM830 million, a 6% decrease compared to the preceding second quarter (2QFY2025). PATAMI showed an improvement, rising by 17% quarter-on-quarter to RM35 million. However, on yoy basis, the group saw its net profit decline 32% compared to RM50 million achieved in the period before in 2024. Raw material prices in 3QFY2025 experienced a downtrend quarter-on-quarter, with the average natural latex concentrate price decreasing by 9% and the average nitrile latex price declining by 4%. Lim Cheong Guan, Managing Director of Top Glove, acknowledged the headwinds impacting the quarter. 'Our 3QFY2025 performance was impacted by pronounced headwinds, chiefly lower Average Selling Prices (ASPs), heightened competition, coupled with cost savings pass-through,' he remarked. 'However, it is encouraging that we have remained profitable while successfully delivering volume growth.' Despite evolving tariff actions and trade dynamics that may limit near-term visibility, Top Glove said remains confident in the long-term prospects of the glove industry. The company believes the industry continues to be supported by robust fundamentals and heightened hygiene awareness post-pandemic. Related
The Star
4 days ago
- Business
- The Star
Gamuda posts higher 3Q net profit, declares 10c dividend
KUALA LUMPUR: Gamuda Bhd recorded a higher net profit of RM671 million for the third quarter ended April 30, 2025 (3Q), up five per cent year-on-year, driven by stronger performance in its domestic construction projects. "Property sales grew 10 per cent to RM2.6 billion compared with RM2.3 billion sold last year, primarily driven by several quick-turnaround projects in Vietnam,' the engineering and construction group said in a statement today. During the same period, Gamuda's revenue increased by 14 per cent to RM11.5 billion from RM10 billion recorded in the corresponding period last year. The group's quarterly earnings rose five per cent to RM247 million, also supported by its domestic construction division, where earnings tripled to RM104 million compared to the same quarter last year. The board of directors has declared a second interim dividend of five sen per share, bringing the year-to-date dividend to 10 sen per share, representing a 25 per cent increase from the previous year's eight sen (adjusted following 1:1 bonus share issuance). Gamuda said its domestic operations have gained momentum, with its orderbook contributing 41 per cent of the total RM35 billion construction orderbook, representing a substantial portion of the group's overall performance. It noted that construction revenue and net profit rose by four per cent and 40 per cent, respectively, during the third quarter. Gamuda also noted that its data centre investments have begun to yield positive returns, contributing meaningfully to the engineering division's pre-tax earnings. "This development marks a significant milestone for the group's expansion strategy, positioning it well to meet growing demand for digital infrastructure,' it added. - Bernama
Barnama
4 days ago
- Business
- Barnama
Gamuda Posts Higher 3Q Net Profit, Declares 10 Sen Dividend
BUSINESS Gamuda Group rewards shareholders with an increased dividend of 10 sen, up from previous year's 8 sen KUALA LUMPUR, June 26 (Bernama) -- Gamuda Bhd recorded a higher net profit of RM671 million for the third quarter ended April 30, 2025 (3Q), up five per cent year-on-year, driven by stronger performance in its domestic construction projects. 'Property sales grew 10 per cent to RM2.6 billion compared with RM2.3 billion sold last year, primarily driven by several quick-turnaround projects in Vietnam,' the engineering and construction group said in a statement today. During the same period, Gamuda's revenue increased by 14 per cent to RM11.5 billion from RM10 billion recorded in the corresponding period last year. The group's quarterly earnings rose five per cent to RM247 million, also supported by its domestic construction division, where earnings tripled to RM104 million compared to the same quarter last year. The board of directors has declared a second interim dividend of five sen per share, bringing the year-to-date dividend to 10 sen per share, representing a 25 per cent increase from the previous year's eight sen (adjusted following 1:1 bonus share issuance). Gamuda said its domestic operations have gained momentum, with its orderbook contributing 41 per cent of the total RM35 billion construction orderbook, representing a substantial portion of the group's overall performance. It noted that construction revenue and net profit rose by four per cent and 40 per cent, respectively, during the third quarter. Gamuda also noted that its data centre investments have begun to yield positive returns, contributing meaningfully to the engineering division's pre-tax earnings. 'This development marks a significant milestone for the group's expansion strategy, positioning it well to meet growing demand for digital infrastructure,' it added.
Borneo Post
21-06-2025
- Business
- Borneo Post
Gurdwara Sahib Miri gets RM500,000 Unifor boost for renovation works
Ting (sixth left) hands over the cheque from Unifor to Gurmokh, as others look on. MIRI (June 21): Gurdwara Sahib Miri has received an allocation of RM500,000 from the Unit for Other Religions (Unifor) to support its ongoing renovation works. The cheque was handed over by State Deputy Minister of Tourism, Creative Industry and Performing Arts, Datuk Sebastian Ting during a brief ceremony at the temple yesterday. In his remarks, the Piasau assemblyman also reminded recipients to utilise the allocation without delay and to ensure that all costs and expenditures would be properly documented. 'Make sure to use the funds and report what has been done, so there is a proper record. 'If everything is in order, it will be easier for them (Unifor) to consider future applications,' he advised. The Sikh community in Miri has roots dating back to the 1880s, with the original 'gurdwara' (Sikh temple) built in 1919, and the current building completed in 1975. Today, it continues to serve as a place of worship and learning for the Sikh families in the area. According to the project director Gurvir Singh Sandhu, the current upgrading initiative was approved in 2021, with physical works kicking off in 2022. 'The renovation works are now about 80 per cent complete and are expected to finish by early July,' said Gurvir. Among the new features being introduced are Dayak-inspired motifs on the glass panels by the entrance, reflecting the community's appreciation for local cultures and Sarawak's multi-ethnic landscape. Ting also noted that the Sikh community here had received a total of RM2.6 million in Unifor funding over the years for various phases of upgrading works on the temple. 'In recent years, the temple has undergone various improvements including upgrades to the 'langar' hall, kitchen facilities, and space expansion to accommodate major religious events.' The ceremony concluded with Ting doing a brief walkaround of the newly-renovated areas, accompanied by Gurvir, Gurdwara Sahib Miri president Gurmokh Singh, and the committee members. allocation Gurdwara Sahib Miri lead renovation Sebastian Ting Unifor
BusinessToday
20-06-2025
- Business
- BusinessToday
Commentary: Growing Foreign Reserves And What it All Means
Malaysia's central bank, Bank Negara Malaysia (BNM), recently reported an increase in its international reserves, reaching USD119.6 billion as of May 30, 2025, up from USD119.1 billion just two weeks earlier. This modest growth in foreign reserves signals positive developments in Malaysia's economy, reflecting its resilience in navigating global economic challenges. It highlights the country's ability to manage external pressures and provides a buffer against potential financial shocks. However, the key question remains: what does this mean for the everyday citizens? How can we interpret this trend as a sign of a strengthening economy, and how does it translate into tangible benefits for the people? Why Our Money Pile is Growing? One main reason our reserves are increasing is that Malaysia is selling more goods to other countries than it buys. For example, in April 2025, Malaysia sold RM10.5 billion more in goods than it bought, especially in electronics and gas. When we export a lot, more foreign money comes into the country. This extra foreign currency is then kept by BNM as part of its reserves. This shows Malaysia's strength in making and selling important products worldwide. Another big factor is that foreign investors are putting their money into Malaysian government bonds. These bonds offer better returns compared to those in countries like the U.S. or Japan, where interest rates might not be as good anymore. In May 2025 alone, foreign investors brought in RM2.6 billion. When these investors bring in foreign money and convert it to Ringgit to buy our bonds, it directly adds to BNM's foreign currency reserves. This trend highlights that investors trust Malaysia's economy. What This Extra Money Means for Malaysia? Having USD119.6 billion in reserves is a big deal. It means Malaysia has enough foreign money to pay for about 5 months of imported goods and services. This is well above the recommended 3 months by the IMF, a global financial body. This cushion helps Malaysia if import prices go up or if global trade faces problems. Also, these reserves are almost equal to our short-term foreign debts (0.9 times), showing that we don't rely too much on quick foreign loans to run our economy. This strong position makes us less vulnerable to sudden money outflows. Our reserves are also made up of different types of assets, which gives BNM more flexibility. Most of it, USD106.4 billion, is in foreign currencies. We also have USD5.8 billion in Special Drawing Rights (a type of international money from the IMF) and USD3.8 billion in gold. Having this mix of assets helps BNM act fast if there's a global money crisis or if a lot of foreign money suddenly leaves the country. It means BNM has many options to handle financial pressures. Impact on the Ringgit and Economic Policy This steady increase in our foreign reserves suggests that the Malaysian Ringgit might become more stable after being a bit weak. When investors worldwide see Malaysia has strong reserves and can attract foreign money, it makes them see Malaysia as a safe and attractive place among growing economies. This improved perception could boost confidence in the Ringgit, making its value more steady and potentially stronger against other major currencies. If our reserves keep growing, it means BNM will have more room to make decisions about our economy. For instance, BNM might be able to slightly lower interest rates if needed, without worrying too much about the Ringgit losing value or losing trust from investors. This flexibility is very important in today's uncertain global economy, allowing BNM to support Malaysia's economic growth without risking financial stability. Our 'Economic Shield' in a Shaky World Essentially, this rise in Malaysia's international reserves is more than just a number. It's a vital 'economic shield' that gives Malaysia significant power and freedom in managing its money and economy. In a world full of unclear interest rates, political tensions, and unpredictable supply chains, having a big financial buffer is extremely important. This 'shield' helps Malaysia handle unexpected global problems, like a sudden economic slowdown or a quick exit of foreign money, by lessening their impact. It also keeps investors confident, as they know BNM has the resources to protect the Ringgit and keep the financial system stable. Plus, strong reserves allow BNM to support economic growth when necessary, without being held back by a weak financial position. Overall, these strong reserves show Malaysia's smart economic planning and its ability to deal with global financial challenges. Conclusion As a conclusion, the growth in Malaysia's international reserves to USD119.6 billion is unequivocally a positive signal, extending beyond mere financial figures. For the average Malaysian, this translates into tangible benefits, a more stable Ringgit means greater purchasing power for imports and overseas travel, while reduced inflation helps stretch household budgets. Furthermore, these robust reserves act as a crucial national safety net, safeguarding jobs and businesses during global uncertainties and bolstering confidence in our financial system. Ultimately, this increased 'economic shield' empowers BNM to maintain stability and foster sustainable growth, directly enhancing the economic well-being and security of all Malaysians in a volatile global landscape. By Dr. Shahrul Azman Abd Razak Researcher and Islamic Finance Consultant Kuala Nerang, Kedah Related
