Latest news with #RM233
New Straits Times
24-06-2025
- Business
- New Straits Times
Crest Builder secures RM233mil Sunway Flora 2 contract
KUALA LUMPUR: Crest Builder Holdings Bhd's unit Crest Builder Sdn Bhd has received a RM233 million construction contract from Sunway Group. The contract, which received from Sunway's subsidiary Sunway Flora Sdn Bhd, involves the construction of the main building for the Sunway Flora 2 mixed development located in Taman Mutiara Bukit Jalil, Kuala Lumpur. The project comprises a 41-storey and 43-storey high-rise blocks with 686 units of serviced apartments, along with five levels of elevated car parks and various recreational facilities. The construction period is expected to span around 36 months from the scheduled site possession date. In a statement, Crest Builder said the latest contract boosts total outstanding order book to about RM1.7 billion, further solidifying its construction pipeline and ensuring steady earnings visibility for the next four years. It said the job reflects the group's continued success in securing high-value projects from established developers and reaffirms the company's strong track record in delivering high-quality, timely construction solutions for complex urban developments. Crest Builder group managing director Eric Yong said the company secured the second contract from Sunway Group following last year's Sunway Velocity 3 project. "Securing this follow-up project validates our team's capabilities, commitment and consistent delivery. "With this project, we continue to enhance our portfolio of high-value urban developments and reinforce our position as a trusted partner in delivering quality and timely construction solutions," he added.
Borneo Post
10-06-2025
- Business
- Borneo Post
RM16.6 million worth of smuggled goods seized at Sepanggar Port
Siti (second left) and her officers showing some of the seized items. KOTA KINABALU (June 10): The Royal Malaysian Customs Department (Sabah) seized RM16.6 million worth of smuggled goods in a series of raids at Sepanggar Port here last month. Sabah Customs Department Assistant Director General Siti Mang said the items seized between May 14 and 29 included liquor, frozen chicken and rice. In the first case, Customs officers inspected 33 containers and discovered 659,856 litres of various types of liquor worth RM3.97 million. The estimated duties and taxes amounted to RM11.86 million. In a second raid on May 16, officers inspected a container carrying 28 tonnes of frozen chicken valued at RM233,400. The duties and taxes were estimated at RM93,360. None of the frozen chicken products had a valid import permit. On May 29, officers uncovered 150 tonnes of fragrant and glutinous rice worth RM356,250, with duties and taxes totaling RM142,500. All cases are being investigated under Section 135(1)(a) of the Customs Act 1967. Siti said smuggling activities not only cause significant revenue loss but also pose risks to national security and public well-being. She urged the public to cooperate with the Customs Department by reporting any smuggling activities via the Customs Toll-Free line at 1-800-88-8855.
New Straits Times
27-05-2025
- Business
- New Straits Times
TM's fibre deal with U Mobile to boost earnings by up to RM230mil in FY27 — CIMB
KUALA LUMPUR: Telekom Malaysia Bhd's (TM) recent contract win from from U Mobile to provide fibre backhaul services for the second 5G network is expected to generate RM100 million to RM230 million in its revenue for the financial year 2026 (FY26) and FY27. CIMB Securities Research said this development comes as little surprise, given that TM has by far the most extensive domestic fibre network in Malaysia and is thus the best-positioned to support U Mobile in achieving its 5G coverage targets of 80 per cent by the second half of 2026 (2H26) and 90 per cent by 2H27. The firm said the contract implies that TM will generate an average revenue of RM240 million per annum (pa) once fibre connectivity has been fully provided. "However, to be conservative, we assume that TM will only generate RM100 million in revenue in FY26. "This is because U Mobile may want to start the fibre backhaul leases closer to the commercial launch of its 5G services in 2H26 to minimise expenses and given that it has prepaid RM233 million for 5G wholesale leases from Digital Nasional Bhd (DNB)," it said. Thereafter, CIMB Securities expects TM's revenue from the contract to climb to RM230 million in FY27 (and to RM240 million pa from FY28). To roll out the fibre, the firm has assumed that TM would need to incur capex of RM430 million over FY26 to FY27, or 18 per cent of the 10-year contract revenue. "Factoring in these assumptions, we have raised our FY26 to FY27F core earning per share (EPS) estimates by 2–4 per cent. Post revisions, we forecast TM's core EPS to grow 5.6 per cent/2.7 per cent/2.2 per cent year on year in FY25/FY26/FY27, respectively. "This is an improvement over our earlier projections of largely flat core EPS in FY26 to FY27." CIMB Securities has reiterated its 'Buy' rating on TM, raising its target price by 4 per cent to RM7.55 following the upward revision in earnings forecasts.
The Star
13-05-2025
- Business
- The Star
CelcomDigi, Mof Inc, YTL, Maxis & DNB sign revised agreement on DNB shareholding structure
KUALA LUMPUR: A significant restructuring in the shareholding of Digital Nasional Bhd (DNB) has been confirmed through a newly signed Letter of Variation dated today, altering key terms in the previously agreed shareholders agreement on June 28, 2024. The revised agreement involves Infranation Sdn Bhd (CelcomDigi), a wholly-owned subsidiary of CelcomDigi Bhd (CDB), Minister of Finance (Incorporated) [MoF Inc], YTL Power International Bhd (YTL Power), Maxis Broadband Sdn Bhd (Maxis), U Mobile Sdn Bhd (U Mobile), and DNB, according to a Bursa Malaysia filing by CDB. Under the new terms, U Mobile will divest its entire 100,000 shares in DNB to MoF Inc, YTL, CelcomDigi, and Maxis. Each party will acquire a proportion of the shares for RM1.00 per share, totalling an acquisition price of RM100,000. This transaction is set to be completed on May 30, 2025. The breakdown of share acquisition are as follows: MoF Inc - one share (RM1); YTL - 33,333 shares (RM33,333); CelcomDigi 33,333 shares (RM33,333); and Maxis 33,333 shares (RM33,333). With this transaction, U Mobile forfeits the right to exercise any put or call options previously available under the shareholders agreement. Following the acquisition, the ownership structure of DNB has been revised. MoF Inc will hold an issued share capital of RM500,100,002, representing 41.67 per cent of the combined ownership, with no shareholder advance. YTL, CelcomDigi, and Maxis will each hold issued share capital of RM133,333 and have provided shareholder advances of RM233,233,333, resulting in each holding a 19.44 per cent ownership stake in DNB. Meanwhile, CDB said that the Letter of Variation will not have any material impact on its earnings per share (EPS), net assets per share (NAPS), gearing, share capital, or major shareholders' direct or indirect holdings for the financial year ending Dec 31, 2025 (FY2025). In a separate filing, Maxis said MoF Inc shall exercise its put option to sell its ordinary shares and transfer its shareholder advance in DNB, within one month after Nov 12, 2025. This timeline may be extended if mutually agreed in writing by MoF Inc, YTL, CelcomDigi, and Maxis. "If MoF Inc. fails to exercise the put option within the said period, the put option will lapse, and the remaining shareholders may activate their call option within one month thereafter," it said. Maxis has clarified that the proposed investment will not have a material impact on its EPS, NAPS, or gearing of the group for FY2025. Any further material developments will be announced in due course, it added. - Bernama
Malay Mail
06-05-2025
- Malay Mail
Macau Scam strikes yet again as Penang woman loses RM489,550
NIBONG TEBAL, May 6 — A woman working for a private company lost RM489,550 after falling victim to a Macau Scam syndicate recently. Seberang Perai Selatan (SPS) police chief Supt Jay January Siowou said the 39-year-old woman received a phone call on Feb 17 from an individual claiming to be a police officer, who accused her of being involved in a criminal case. 'The individual claimed that the suspect needed to make payments to settle the investigation that is supposedly being carried out against her. The suspect also threatened her not to inform anyone of the matter. 'The woman then made 47 online cash transactions amounting to RM256,550 to 13 different bank accounts and 12 cash deposits amounting to RM233,000 to four different bank accounts via the cash deposit machine, with the amount transferred totalling RM489,550,' he said in a statement yesterday. He said the victim only realised she had been duped after confiding in her younger brother and lodged a report at the Sungai Bakap Police Station yesterday, adding that the case is being investigated under Section 420 of the Penal Code for cheating. — Bernama
