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New Straits Times
6 days ago
- Business
- New Straits Times
EcoWorld Q2 earnings jump 85pct to RM123mil on land sale
KUALA LUMPUR: Eco World Development Group Bhd (EcoWorld Malaysia) posted a net profit of RM129.8 million for the second quarter ended April 30, 2025, up 85.3 per cent from RM70 million a year ago, driven by higher revenue from a major land sale. EcoWorld Malaysia's revenue rose 52 per cent to RM878.2 million from RM555.8 million in the same quarter last year. The increase was mainly driven by the full consolidation of Paragon Pinnacle's results and the substantial recognition of revenue from the sale of 123 acres of industrial land to Microsoft Payments (Malaysia) Sdn Bhd. For the quarter, EcoWorld Malaysia declared a second interim dividend of two sen per share, bringing the total dividends declared for the year to date (YTD) to three sen per share. President and chief executive officer Datuk Chang Khim Wah said EcoWorld Malaysia is on course to surpass its RM3.5 billion sales target for the financial year 2025 (FY25). He noted that within the first seven months of FY25, the group has already secured RM2.99 billion in sales, amounting to 85 per cent of its full-year target. "The YTD sales in FY25 is also 37 per cent higher than what we achieved in the same period of financial year 2024. "This has enabled the group to chart an all-time high in our future revenue position which stands at RM5.22 billion as at May 31, 2025," he said. Chang said the company continues to observe steady demand from local manufacturers for its ready-built factories and smaller industrial land plots within its business parks in Iskandar Malaysia and the Klang Valley. He added that in 2Q25, EcoWorld Malaysia finalised a strategic partnership with SD Guthrie Berhad and NS Corporation to jointly develop 483.5 hectares of land in Bukit Pelandok, Negeri Sembilan.
Barnama
24-06-2025
- Barnama
Selangor KPDN Disposes Over RM3.5 Mln Worth Of Seized Counterfeit Goods
SHAH ALAM, June 24 (Bernama) -- The Domestic Trade and Cost of Living Ministry (KPDN) has disposed of over RM3.5 million worth of seized counterfeit goods at the Bukit Raja Exhibits Storage here today. Selangor KPDN director Mohd Zuhairi Mat Radey said the disposal involved goods related to 64 cases that have completed their court processes between January 2024 and May this year, and is the largest for the state in the past five years. 'Disposed items include 41,000 self-care products, 4,000 clothing accessories, 4,370 watches and clothing items, 11,900 pairs of shoes and sandals, and 300 motorcycle accessories,' he told reporters immediately after the disposal here today, adding that other items disposed include electrical appliances and equipment used in misappropriation of controlled items, such as pumps, flow meters, connecting hoses and intermediate bulk containers with an estimated value of RM250,000.
The Sun
24-06-2025
- Business
- The Sun
Selangor KPDN destroys RM3.5mil fake goods in major bust
SHAH ALAM: The Domestic Trade and Cost of Living Ministry (KPDN) destroyed counterfeit goods worth over RM3.5 million today at the Bukit Raja Exhibits Storage in Selangor. This marks the state's largest disposal operation in half a decade. Selangor KPDN director Mohd Zuhairi Mat Radey confirmed the seized items stemmed from 64 resolved court cases between January 2024 and May 2024. 'The disposed items include 41,000 self-care products, 4,000 clothing accessories, 4,370 watches and garments, 11,900 footwear units, and 300 motorcycle parts,' he stated during a press briefing. Additional confiscated equipment involved in controlled item misappropriation—such as pumps, flow meters, and storage containers—valued at RM250,000 were also discarded. The cases fell under multiple laws, including the Trademarks Act 2019, Control of Supplies Act 1961, and Copyright Act 1987. Mohd Zuhairi emphasized the ministry's commitment to curbing illicit trade and protecting consumer rights.
The Sun
24-06-2025
- Business
- The Sun
Selangor KPDN Destroys RM3.5M Fake Goods in Major Bust
SHAH ALAM: The Domestic Trade and Cost of Living Ministry (KPDN) destroyed counterfeit goods worth over RM3.5 million today at the Bukit Raja Exhibits Storage in Selangor. This marks the state's largest disposal operation in half a decade. Selangor KPDN director Mohd Zuhairi Mat Radey confirmed the seized items stemmed from 64 resolved court cases between January 2024 and May 2024. 'The disposed items include 41,000 self-care products, 4,000 clothing accessories, 4,370 watches and garments, 11,900 footwear units, and 300 motorcycle parts,' he stated during a press briefing. Additional confiscated equipment involved in controlled item misappropriation—such as pumps, flow meters, and storage containers—valued at RM250,000 were also discarded. The cases fell under multiple laws, including the Trademarks Act 2019, Control of Supplies Act 1961, and Copyright Act 1987. Mohd Zuhairi emphasized the ministry's commitment to curbing illicit trade and protecting consumer rights.
Herald Malaysia
20-06-2025
- Business
- Herald Malaysia
Vatican Bank reports RM159 million profit in 2024
The Vatican Bank, officially known as the Institute for the Works of Religion (IOR), reported a net profit of €32.8 million (RM158,952 million) for 2024, a seven per cent increase from the previous year. Jun 20, 2025 The Vatican Bank. (CNA/Andrea Gagliarducci VATICAN: The Vatican Bank, officially known as the Institute for the Works of Religion (IOR), reported a net profit of €32.8 million (RM158,952 million) for 2024, a seven per cent increase from the previous year. The growth was driven by higher interest, commission, and brokerage income, along with tighter cost control. The total volume of client assets rose to €5.7 billion (RM27 billion), and net assets increased to €731.9 million (RM3.5 billion). The IOR's strong performance also led to a dividend of €13.8 million (RM66 million) being allocated to the Holy Father, reaffirming its mission to support the Church's religious and charitable works. All investments were conducted in line with Catholic social teaching, with 100 per cent of asset management lines posting gains and 79 per cent outperforming their benchmarks. The bank's Tier 1 capital ratio — a key indicator of financial stability — reached 69.43 per cent, a 16.1 per cent rise from 2023, due to reduced risk exposure and stronger equity. This places the IOR among the most well-capitalised financial institutions globally in terms of liquidity and solvency. Improvements in technology and staffing in 2024 further enhanced the IOR's operations and customer service. As the only financial institution authorised to operate within Vatican City, its audited financials confirmed compliance with international accounting standards and another year of stable, sustained growth. --CNA
