Latest news with #RM23.4
Barnama
24-06-2025
- Business
- Barnama
Johor Records Highest Agricultural Sector Sales Of RM27.2 Bilion
GENERAL ISKANDAR PUTERI, June 24 (Bernama) -- Johor continues to strengthen its position as the leader in the agricultural sector when it successfully recorded the highest sales value of RM27.2 billion last year. State Agriculture, Agro-based Industry and Rural Development Committee chairman Datuk Zahari Sarip said the amount involved sales of crop sub-sector of RM20.9 billion, livestock (RM4.7 billion), aquaculture (RM1 billion) and fisheries (RM7 million). "Johor continues to strengthen its position as a leader in the country's agricultural sector when it successfully recorded the highest sales value based on the latest statistics from the interim findings of the 2024 Agricultural Census by the Department of Statistics Malaysia (DOSM). "This achievement not only reflects the fundamental strength of the agricultural sector in Johor, but is also the result of strategic planning and collaboration, the implementation of comprehensive policies and close cooperation between the state government and the federal government, implementing agencies, investors and all entrepreneurs who are the backbone of the development of this sector. He told reporters after chairing the Johor State Food Security Working Committee Meeting at Dato' Jaafar Muhammad Building Operations Room here today. He also expressed his appreciation to the Ministry of Agriculture and Food Security (KPKM) which has channeled an allocation of RM23.4 million as support to strengthen the implementation of various high-impact initiatives and programmes. Meanwhile, he said the state government is formulating several strategies to ensure that players in the agriculture and food security sector are not left out of the rapid development trend in the Johor-Singapore Special Economic Zone (JS-SEZ). He said a series of workshops and engagement sessions are being implemented to comprehensively discuss protection and support measures for agricultural sector entrepreneurs so that they remain relevant in the state's long-term development plan. He said that as an initial step, Johor is driving several high-impact projects including the development of modern agricultural activities such as 'vertical farming' between a local company and a company from Singapore.
The Sun
24-06-2025
- Business
- The Sun
Johor leads Malaysia's agriculture with RM27.2 billion sales in 2023
ISKANDAR PUTERI: Johor has solidified its status as Malaysia's agricultural leader after recording RM27.2 billion in sector sales last year, the highest nationwide. State Agriculture, Agro-based Industry, and Rural Development Committee chairman Datuk Zahari Sarip attributed the success to strong sub-sector performances: crops (RM20.9 billion), livestock (RM4.7 billion), aquaculture (RM1 billion), and fisheries (RM7 million). The figures stem from the Department of Statistics Malaysia's (DOSM) 2024 Agricultural Census interim findings. Zahari credited Johor's achievement to strategic planning, federal-state collaboration, and robust private-sector involvement. He spoke after chairing the Johor State Food Security Working Committee meeting at the Dato' Jaafar Muhammad Building. The Ministry of Agriculture and Food Security (KPKM) allocated RM23.4 million to support high-impact agricultural programs, further boosting the sector. Zahari emphasized Johor's proactive measures to integrate farmers into the Johor-Singapore Special Economic Zone (JS-SEZ) development. Workshops and engagement sessions are underway to safeguard agricultural entrepreneurs' interests while aligning them with long-term state growth. Key initiatives include modern farming projects like *vertical farming* through local-Singaporean partnerships. Zahari noted, *'We are studying how the government can protect those involved in agriculture and food security, ensuring they benefit from JS-SEZ opportunities.'* Incentives for food security investors in southern Johor are also being drafted.
The Sun
24-06-2025
- Business
- The Sun
Johor leads Malaysia's agriculture with RM27.2 billion sales
ISKANDAR PUTERI: Johor has solidified its status as Malaysia's agricultural leader after recording RM27.2 billion in sector sales last year, the highest nationwide. State Agriculture, Agro-based Industry, and Rural Development Committee chairman Datuk Zahari Sarip attributed the success to strong sub-sector performances: crops (RM20.9 billion), livestock (RM4.7 billion), aquaculture (RM1 billion), and fisheries (RM7 million). The figures stem from the Department of Statistics Malaysia's (DOSM) 2024 Agricultural Census interim findings. Zahari credited Johor's achievement to strategic planning, federal-state collaboration, and robust private-sector involvement. He spoke after chairing the Johor State Food Security Working Committee meeting at the Dato' Jaafar Muhammad Building. The Ministry of Agriculture and Food Security (KPKM) allocated RM23.4 million to support high-impact agricultural programs, further boosting the sector. Zahari emphasized Johor's proactive measures to integrate farmers into the Johor-Singapore Special Economic Zone (JS-SEZ) development. Workshops and engagement sessions are underway to safeguard agricultural entrepreneurs' interests while aligning them with long-term state growth. Key initiatives include modern farming projects like *vertical farming* through local-Singaporean partnerships. Zahari noted, *'We are studying how the government can protect those involved in agriculture and food security, ensuring they benefit from JS-SEZ opportunities.'* Incentives for food security investors in southern Johor are also being drafted.
Malaysian Reserve
23-06-2025
- Business
- Malaysian Reserve
Pan Merchant's retail IPO tranche undersubscribed at 0.37 times
PAN Merchant Berhad's initial public offering (IPO) was undersubscribed by the Malaysian public, with the public portion receiving applications for only 16.93 million new shares out of 45.8 million shares offered, representing a subscription rate of 0.37 times, the company said in a Bursa Malaysia filing today. Under the public category, the Bumiputera portion was subscribed at 0.19 times, while the remaining public portion registered a 0.55 times subscription rate. Despite the undersubscription in the retail tranche, Pan Merchant said its IPO has been completed successfully due to strong support from private placement investors. The private placement to selected investors and to identified Bumiputera investors approved by MITI were both fully placed out. Additionally, the 18.3 million new shares allocated to eligible directors, employees and persons who have contributed to the success of the group were fully subscribed following clawback and reallocation. Pan Merchant's shares are slated to be listed on the ACE Market of Bursa Malaysia on July 1, 2025. Commenting on the market conditions, CEO Lim Teck Seong said: 'We acknowledge the market sentiment remains selective, especially among retail investors, but we remain confident in our fundamentals and long-term growth strategy.' He added: 'The full take-up by institutional investors and strategic shareholders is a strong vote of confidence in our business model and prospects.' Pan Merchant, a construction and project management services provider, is seeking to raise RM23.4 million from the IPO to fund working capital, repayment of bank borrowings, and listing expenses. — TMR
The Sun
12-06-2025
- Business
- The Sun
VS Industry feels impact of lower sales orders, higher expenses and unfavourable forex
PETALING JAYA: Electronics manufacturing services provider VS. Industry Bhd posted revenue of RM909.4 million for the third quarter ended April 30, 2025 (Q3'25) versus RM1.01 billion in the corresponding period a year ago. Parallel with the top-line performance, Q3'25 net profit stood at RM23.4 million, compared to RM54.4 million in the previous corresponding quarter. The company's performance was affected by lower sales orders from existing customers, higher operating expenses and unfavourable foreign exchange rates. On a quarter-on-quarter (q-o-q) basis, revenue was marginally higher at RM909.4 million compared to RM908.8 million. Nevertheless, Q3'25 net profit jumped 54.5% q-o-q to RM23.8 million from RM15.4 million, driven by lower operating expenses. Meanwhile, the group reported revenue of RM2.93 billion for nine months of FY25 (9M25), compared to RM3.03 billion in the prior year. Net profit for 9M25 was RM69.7 million, compared to RM119.4 million last year. This was attributed mainly to the factors cited above. Net foreign exchange loss in 9M25 stood at RM1.3 million, compared to a net gain of RM28.6 million in the corresponding period last year. Managing director Datuk SY Gan said the global business landscape, already weighed down by subdued consumer sentiment, inflationary pressures, and geopolitical tensions, faced further headwinds and volatility following a series of announcements in early April on revised tariff measures imposed on various trading nations, including Malaysia. 'The announcements resulted in specific customers adjusting their orders in response to the newly imposed tariff measures. The overall order flow situation in Malaysia and Singapore in the near term will be contingent upon the prevailing consumer sentiments and the evolving development surrounding tariff measures, primarily upon expiry of the 90-day grace period in early July 2025. 'Despite this, the group remains engaged with our customers on new product development programmes, and continues to pursue opportunities for recovery in the quarters ahead with the anticipated new model launches by some of our customers.' Meanwhile, Gan said, the group has commenced mass production in the Philippines and the utilisation rate will gradually increase towards the end of the year. 'Despite the external headwinds, we remain positive on the Group's long-term outlook, supported by a resilient customer base, strong vertical integration capabilities, sound financial fundamentals, and prudent cost and risk management,' he added. The board has declared a share dividend by distributing treasury shares on a one-for-every-125 existing ordinary shares basis.
