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New Straits Times
3 days ago
- Automotive
- New Straits Times
WCT's PLUS contract to add up to 4pct to annual earnings
KUALA LUMPUR: WCT Holdings Bhd's new contract to build additional lanes along the Sedenak–Simpang Renggam stretch of the North-South Expressway is expected to add 2–4 per cent to its annual earnings over the 36-month project period. Public Investment Bank Bhd (PublicInvest) said this is WCT's first win of the year and makes up 36.5 per cent of its RM1 billion job replenishment target for financial year 2025 (FY25). "With this job win, WCT's outstanding construction order book is estimated to increase by 14.6 per cent to RM2.8 billion," it said. However, it maintained its current forecasts, as the job win falls within its FY25 order book replenishment assumptions. The RM365.2 million contract, awarded by Projek Lebuhraya Usahasama Bhd, covers the construction of additional lanes along the Yong Peng (North) to Senai (North) stretch, specifically Phase 2 from Sedenak to Simpang Renggam in Johor. The scope of work includes site clearing, demolition, earthworks, drainage, pavement construction, road markings, installation of road furniture, geotechnical works, bridge building, environmental protection measures, utility relocation, road lighting systems, and the extension of vehicular box culverts. This second phase of the highway expansion was announced under Budget 2024, aimed at upgrading the Simpang Renggam-Machap section from four to six lanes to alleviate traffic congestion in the southern corridor.
The Sun
5 days ago
- Business
- The Sun
Tetra Pak sees strong growth potential beyond daily sector
HO CHI MINH CITY: Tetra Pak, a Swedish-Swiss multinational food processing and packaging solutions company, sees strong growth potential in Malaysia and across Asia-Pacific beyond the milk category, said its president and CEO Adolfo Orive. He highlighted growing consumer demand for a variety of beverages such as plant-based, fruit juices, coffee, iced tea, protein-enriched, oatmeal and energy products, signalling a broader shift in the Malaysian and regional beverage markets. Orive said that globally, the demand for protein is on the rise, and Malaysia is no exception, protein is becoming increasingly important to consumers. The whole of Asia-Pacific is a great source of those new beverage categories, he said. 'Our role is to support a wide range of products tailored to different age groups, lifestyles and consumption. 'We commit to making food safe and available everywhere, and that is what we have been doing for more than 75 years,' he told Bernama. Additionally, Orive stressed the importance of sustainable packaging solutions that have a positive impact on the environment – currently, about 70% of Tetra Pak's packaging materials come from renewable sources, contributing to lower carbon dioxide emissions. 'We believe our packaging is already a strong and positive option in terms of sustainability, and we are committed to going further. 'Our goal is to keep investing in innovations that make our packaging even more sustainable for society as a whole,' he said. Tetra Pak has invested about €500 million (RM2.49 billion) in research and development over the past five years, underscoring its commitment to innovation, sustainability and meeting the evolving needs of the global food and beverage industry. On Thursday, Tetra Pak announced the expansion of its facility in Binh Duong, Vietnam, with the launch of Phase 2, following an additional investment of €97 million. This follows the inauguration of Phase 1 in 2019, as the company aims to better serve the growing demands of Vietnam and the broader Asia-Pacific markets. Serving as a regional production hub, Tetra Pak Binh Duong supplies packaging solutions to Vietnam and several key Asia-Pacific markets, including Thailand, Malaysia, Indonesia, Singapore, the Philippines, Australia and New Zealand. The production capacity at Tetra Pak's Binh Duong facility has reached 30 billion packs annually. Currently, Tetra Pak operates an office in Malaysia, which primarily serves all consumers and customers in the country. Among the notable companies using Tetra Pak's packaging in Malaysia are Fraser & Neave Holdings Bhd, Farm Fresh Bhd, and Nestle. Asia-Pacific remains one of the world's most dynamic food and beverage markets, valued at US$667 billion (RM2.8 billion) in 2023 and projected to reach US$900 billion by 2028. Meanwhile, Tetra Pak Malaysia, Singapore, Philippines and Indonesia managing director Michael Wu said the company views Malaysia as a stable and reliable market. 'We see Malaysia as a secure baseline, and each year we target around 2% to 3% value growth to stay ahead of inflation. At the same time, we see strong potential to drive more innovation here,' he said. Wu noted that many of the products launched by customers in Malaysia have been in the market for years, and there is a clear opportunity to introduce new offerings, especially for younger and more diverse consumer segments. 'Malaysia is uniquely multiracial, with Malays, Chinese, Indians (and other ethnic groups), as well as a growing number of foreign tourists or residents. That diversity presents a valuable opportunity to innovate,' he explained. Before its expansion, Tetra Pak's Binh Duong facility supplied only 60% of the packaging materials used in Malaysia. However, following the upgrade, over 95% of the packaging material for the Malaysian market is now produced at the Binh Duong site, he said.
New Straits Times
01-07-2025
- Politics
- New Straits Times
Bung Moktar: Court case won't diminish support for me
KOTA KINABALU: The ongoing court case will not affect support for him, said Sabah Barisan Nasional chief Datuk Seri Bung Moktar Radin. "This case has been ongoing for almost six years, and I have won two elections while facing it," he told the New Straits Times. Bung's court case began on May 3, 2019, when he pleaded not guilty to three charges of accepting bribes amounting to RM2.8 million in return for approving Felcra's investment of RM150 million in Public Mutual unit trust funds. His wife, Datin Seri Zizie Izette, 45, also pleaded not guilty to three charges of abetting her husband in the matter at the same place, date and time. In May, the Court of Appeal ordered Bung Moktar and his wife to continue their defence in the graft case. Last week, he was reported to have dismissed rumours that he would step aside in the upcoming state election, adding that he would continue to defend his Lamag state assembly seat, which he has held since the 2020 state election. Bung Moktar any attempt to sideline him would jeopardise the party's revival in Sabah. "I am confident that the truth will ultimately prevail. "I don't see how my court case can affect the support for me," said the former state deputy chief minister, who has served as member of parliament for Kinabatangan since 1999. On grassroots support, Bung said that members have been wishing the best for their leaders, as Barisan Nasional has a track record of developing Sabah when in power. "In politics, it is almost impossible for any leader to gain 100 per cent support; however, grassroots acceptance of Umno-BN is steadily increasing."
New Straits Times
17-06-2025
- Business
- New Straits Times
Iran-Israel conflict to drive up export costs, says Johari Ghani
KUALA LUMPUR: The escalating conflict between Iran and Israel is expected to impact the country's commodity export industry, particularly through a sharp increase in logistics and transportation costs, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. He said although the demand for key commodities such as rubber and palm oil is not expected to be directly affected, as they are essential goods, disrupted shipping routes will cause export costs to soar. Johari said shipping companies are now forced to avoid risky areas and choose alternative routes that are longer, or unload goods at safe ports before transporting them by land, thus increasing costs. "When there is a war like the one between Iran and Israel, the logistics costs of products bound for the region will increase. Transportation costs can rise by up to three times. "As a country that is highly dependent on international trade, any disruption in the world's geopolitical landscape will definitely affect us. "Our GDP (Gross Domestic Product) is around RM1.9 trillion. But our trade volume with the world is almost RM2.8 trillion, almost RM3 trillion. This means we are very dependent on trade. So when international trade is affected, it will indirectly affect us," he said. Johari said this at the launch of the Industry Linkage Fund (ILF) 2.0 and the enhancement of the Automation and Green Technology Fund (FAT-G), organised by the Malaysian Rubber Council, here today. Johari said, for example, that the cost of sending a container to West Africa used to be around US$1,200 (RM5,089), but it can now reach up to US$3,000 (RM12,722) — and at one point, even hit US$6,000 (RM25,443) — due to geopolitical risks. He, however, assured that the fundamentals of the country's commodity industry remain strong because Malaysia's main markets, namely India, China, and the European Union are still stable and not directly affected by the conflict. "Demand for food and essential products such as rubber gloves will always be there. The only challenge now is to manage the increasing logistics costs so that the competitiveness of our products is not affected," he said. Recognising the increasingly complex external challenges, Johari said that local industries need to continue to strengthen their resilience through innovation and efficiency improvements. "This is why funds like the ILF and FAT-G are so important. They aim to help local companies, especially small and medium enterprises, to invest in technology, automation, and research and development to produce high-value-added products that are more competitive in the global market," he said.
See - Sada Elbalad
10-06-2025
- Business
- See - Sada Elbalad
Malaysian Jewelry Exports Surge, Boosted By Gulf ,Asian Markets
Waleed Farouk Both Singapore and the United Arab Emirates are experiencing a significant increase in their purchases of Malaysian gold jewelry, as rising global gold prices have dampened domestic demand, according to the Penang Jewellers Association. Josson Khor, an advisor to the association, said that foreign demand, coupled with strong prices, will push Malaysian gold jewelry exports this year beyond the $2.17 billion recorded in 2024. He noted that about 80% of Malaysian gold jewelry exports come from manufacturers and exporters based in Penang. Khor added, "There is stable demand from overseas markets for Malaysian gold jewelry, as the cost of local craftsmen remains competitive, despite the shortage of this specialized labor." It is worth noting that gold prices remain up more than 26% since the beginning of 2025, despite having retreated slightly from their record peak of $3,431 per ounce last month. According to data from the Malaysia External Trade Development Corporation, domestic gold jewelry exports reached $780 million (RM3.3 billion) during the period from January to April 2025, compared to approximately $6.6 million (RM2.8 billion) during the same period last year. The UAE recorded the highest purchase volume, importing jewelry worth $260 million (RM1.12 billion), a 7.4% increase, while Singapore increased its imports by nearly 16% to $240 million (RM1 billion). Conversely, domestic demand has suffered a significant decline due to high prices, with average retail gold jewelry sales halving from around 10 kg per month, according to Khor. The Penang Jewellers Association has approximately 650 members, more than 60% of whom are small and medium-sized enterprises (SMEs) with an annual turnover of less than RM25 million. Khor warned that continued high gold prices could lead to a further contraction in domestic retail sales, predicting they will fall to around 4 kg per month by 2027. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
