Latest news with #RM4.24
Barnama
19 hours ago
- Business
- Barnama
Mary Kay Releases 2025 Sustainability Report, Reaffirms Global Impact Goals
BUSINESS The annual sustainability report highlights Mary Kay's decades-long dedication to social, economic, and environmental sustainability – core pillars central to its business strategy and its purpose-driven legacy rooted in the company's mission of 'enriching women's lives' around the world. (Photo Courtesy: Mary Kay Inc.) KUALA LUMPUR, July 16 (Bernama) -- Mary Kay Inc has published its 2025 Sustainability Report, detailing progress toward its 2030 goals while showcasing key achievements in 2024 across environmental, social, and economic pillars. 'For over 60 years, our company has championed initiatives that empower women, protect the planet, and build resilient communities. This report reaffirms our long-term commitments and celebrates the measurable impact we are making worldwide,' said Mary Kay Chief Executive Officer, Ryan Rogers in a statement. In 2024, Mary Kay advanced its responsible packaging strategy, with its TimeWise Targeted-Action Toning Lotion bottle comprising 94 per cent post-consumer recycled (PCR) content. The company also reported that 93 per cent of palm oil used by its suppliers was certified by the Roundtable on Sustainable Palm Oil (RSPO), while 80 per cent of shea use came from Global Shea Alliance (GSA) members. At its Richard R. Rogers (R3) research and development and manufacturing facility in Texas, 100 per cent of water used was treated and recycled back into the local watershed. The company marked major milestones in long-standing partnerships, supporting 100 conservation projects with The Nature Conservancy and 34 ecosystem preservation efforts with the Arbor Day Foundation. On the social front, Mary Kay's Pink Changing Lives initiative surpassed US$230 million in global donations since 1996. More than 600,000 women worldwide were impacted in 2024 through empowerment programmes delivered at various levels. (US$1=RM4.24) The company also supported women in science, technology, engineering and mathematics (STEM), awarding 37 grants to young women from 16 countries and funding eight grants through the Madam C.J. Walker initiative with the Society of Cosmetic Chemists while also serving as a special award organisation at the 2024 International Science and Engineering Fair. Women continue to power Mary Kay's global operations, making up 63 per cent of its workforce, with 57 per cent in leadership roles across its top 10 markets. Economically, Mary Kay expanded into Kyrgyzstan and strengthened its digital sales channels with 'Phygital"—blending physical and digital strategies—in Mexico and Brazil, with plans to expand to Colombia in 2025.
The Star
6 days ago
- Business
- The Star
Deloitte: Malaysia leads Southeast Asia in IPO performance for 1H25
KUALA LUMPUR: Malaysia emerged at the top of the leaderboard for Southeast Asia's initial public offering (IPO) capital market with 66 per cent or US$940 million (US$1=RM4.24) raised across Southeast Asia during the first half of 2025 (1H 2025), according to the Deloitte Mid-Year IPO Snapshot 2025 report. The report highlighted that Malaysia's IPO capital market continued its impressive momentum from last year, leading the Southeast Asia bourses in all three key metrics: total IPO funds raised, market capitalisation and number of IPOs. In a statement today, Deloitte said household brand Eco-Shop Marketing Bhd led the IPO amount raised by Malaysia at US$230 million, and its share price rose six per cent on its first day on the Main Market of Bursa Malaysia. "With 32 IPOs in the 1H 2025, Malaysia has six top-10 listings in the region in 2025. It has the largest IPO listing in Southeast Asia thus far - a dollar store chain that raised US$230 million. "Malaysia recorded approximately 48 per cent increase in the number of listings, with IPO amount raised increasing by approximately 109 per cent, along with a corresponding uptick in total IPO market capitalisation by approximately 165 per cent," it said. According to the Deloitte report, the Southeast Asia capital market recorded 53 IPOs in 1H 2025, raising over US$1.4 billion in IPO proceeds and achieving US$7.7 billion in IPO market capitalisation. "This compares to 67 IPOs in 1H 2024, which raised under US$1.4 billion with over US$5.8 billion in market capitalisation," it said. Deloitte Malaysia Transactions Accounting Support partner Wong Kar Choon said the IPO outlook in Malaysia remains optimistic for the remainder of 2025, with 32 listings recorded as of June 30, 2025, putting Bursa Malaysia on track to meet its full-year target of 60 listings. "However, the recent US trade tariffs and geopolitical tension have introduced uncertainty, and we foresee that there could be an impact on the IPO market. "This situation may lead to cautious investor sentiments as investors may adopt a more cautious approach and favour less risky assets during these uncertain periods," he said. Wong added that companies might delay their IPO plans, especially for export-driven companies that are affected by supply chain disruptions and cost pressures. - Bernama
The Star
7 days ago
- Business
- The Star
Margma calls for tariff talks with US over glove duty hike
KUALA LUMPUR: The Malaysian Rubber Glove Manufacturers Association (MARGMA) has urged the government to promptly enter sectoral tariff negotiations with the United States (US) following Washington's decision to raise import duties on rubber gloves to 25 per cent from Aug 1, 2025. MARGMA president Oon Kim Hung said members were ready to support the government's efforts in engaging with the US to seek an exemption or, at minimum, maintain the existing 10 per cent tariff. "These gloves are not luxury items but essential medical supplies. A 25 per cent tariff will disrupt supply chains, drive up healthcare costs, and hinder patient safety,' he said in a statement today. The association said Malaysia's glove industry has long collaborated with the Malaysian Rubber Board (MRB) and the Ministry of Investment, Trade and Industry (MITI) to curb trans-shipment abuse and maintain its reputation for quality and responsible manufacturing. MARGMA called on Malaysia's trade negotiators to seek the same sector-specific consideration granted to other strategic industries, to ensure continued access for US healthcare providers to Malaysian-made gloves. It noted that Malaysia supplies nearly half of the US demand for natural rubber and nitrile gloves - critical healthcare products subject to strict US Food and Drug Administration (FDA) standards. With US demand projected by MITI to reach US$4.17 billion by 2030, MARGMA warned that higher tariffs could threaten patient care and drive up costs for hospitals and other healthcare providers.(US$1 = RM4.24). "Rather than undermining US manufacturing, Malaysian glove makers have demonstrated their commitment to the American market. For example, Supermax Corporation Bhd has invested US$350 million in a production facility in Texas, highlighting our industry's long-term dedication to supporting US healthcare,' Oon said. He added that MARGMA reaffirmed its commitment to a sustainable global supply and expressed hope for a tariff outcome that balanced fair trade with public health priorities in both countries. - Bernama
Barnama
20-06-2025
- Business
- Barnama
OMS Reports Growth, Expansion Ahead Of First Earnings Call
BUSINESS KUALA LUMPUR, June 20 (Bernama) -- OMS Energy Technologies Inc (OMS), a manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG), has issued a business update ahead of its inaugural earnings call following its successful Nasdaq listing in May 2025. The company's expanding customer base, growing talent pool, and continued investment in research and development (R&D) are positioning OMS for long-term success, according to a statement. Its Chief Executive Officer, How Meng Hock said OMS enters the public market with a solid foundation, supported by strong partnerships, manufacturing capabilities, and prudent financial management. OMS recently secured a letter of award from Grupo Simples Oil for SWS in Angola's Onshore Kwanza Basin, expanding its presence in West Africa. In Indonesia, new clients such as PT Seleraya Belida and Pertamina Hulu Sanga Sanga are contributing to sales growth, while PTTEP in Thailand renewed its three-year contract effective July 1. Long-standing partnerships continue to anchor the company's revenue stream. A 10-year agreement with Saudi Aramco is expected to generate between US$120 million and US$200 million annually. OMS also maintains a strong supply relationship with Halliburton, with steady order volumes from its Malaysia and Singapore operations. (US$1=RM4.24) With 11 manufacturing facilities across six countries such as Singapore, Malaysia, Brunei, Saudi Arabia, Thailand and Indonesia, OMS is strategically positioned in key oil and gas regions. The company's localisation strategy supports eligibility for government tenders while enriching its workforce through local hiring and compliance with Saudi Arabia's IKTVA and Indonesia's TKDN requirements. In product innovation, OMS invested US$1.1 million in additive manufacturing (AM) R&D to develop a metallic seal for its high-pressure-high-temperature (HPHT) gate valves. The project has completed its initial proof-of-concept phase and is expected to enhance supply chain efficiency and material selection. OMS continues to collaborate with institutions such as the Singapore Institute of Manufacturing and Technology (SIMTech) to advance its R&D efforts. Its delivery performance under long-term contracts with Saudi Aramco and Halliburton remains strong, supported by balanced manufacturing capacity and strategic facility locations. The company prioritises workplace safety and environmental compliance, holding ISO 9001, API Q1, ISO 45001, and ISO 14001 certifications across all manufacturing sites. It recently completed its annual surveillance audit, reinforcing its environmental, social, and governance (ESG) commitments.
The Sun
20-06-2025
- Business
- The Sun
BNM's international reserves rise to US$119.9b
KUALA LUMPUR, June 20 (Bernama) -- The international reserves of Bank Negara Malaysia (BNM) increased marginally to US$119.9 billion (US$1=RM4.24) as at June 13, 2025, from US$119.60 billion recorded as at May 30, 2025. In a statement today, the central bank said the reserves position is sufficient to finance 5.0 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$106.7 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights (SDRs) (US$5.8 billion), gold (US$3.8 billion) and other reserve assets (US$2.3 billion). Total assets amounted to RM630.55 billion, comprising gold and foreign exchange and other reserves, including SDRs (RM531.12 billion), Malaysian government papers (RM12.91 billion), deposits with financial institutions (RM4.26 million), loans and advances (RM27.08 billion), land and buildings (RM4.58 billion), and other assets (RM50.57 billion). BNM said total capital and liabilities amounted to RM630.55 billion, comprising paid-up capital (RM100 million), reserves (RM194.93 billion), currency in circulation (RM172.73 billion), deposits by financial institutions (RM127.93 billion), federal government deposits (RM10.53 billion), other deposits (RM82.23 billion), Bank Negara papers (RM10.55 billion), allocation of SDRs (RM28.38 billion), and other liabilities (RM3.13 billion).
