Latest news with #RM4.3mil
The Star
a day ago
- Business
- The Star
Better second half forecast for Texchem Resources
PETALING JAYA: Texchem Resources Bhd is expected to see better earnings in the second half of this year, supported by ongoing volume recovery, contributions from new business initiatives, and seasonally stronger demand, analysts say. In a report, RHB Research said such factors would support operating leverage for the diversified group with a focus on polymer engineering. According to the research house, the group's first half earnings came in below expectations due to weaker performances in the industrial and food segments. For the first half of this year (1H25), core earnings came in at RM4.3mil compared with 1H24, meeting 26% of RHB Research's full-year forecast. The research house noted the group's current six times price-earnings valuation is undemanding and does not reflect the prospects for a recovery. RHB Research said year-on-year, revenue for 1H25 fell 0.6% to RM566.8mil on the back of weaker earnings from the industrial segment because of reported price dumping by China. The food division's earnings were also down 11.1% amid softer global fishmeal prices. 'That said, 1H25 earnings before interest, taxes, depreciation, and amortisation margins expanded 1.7 percentage points to 8.5%, supported by stronger contributions from polymer engineering and improving margins for the restaurant division,' the research house said. Quarter-on-quarter (q-o-q), revenue increased 0.7% in the second quarter to RM284.4mil, driven by continued recovery in polymer engineering and seasonally stronger sales in the restaurant segment. But profit for the same quarter fell 7.9% q-o-q to RM2.1mil mainly dragged by challenging operating conditions in Myanmar, which affected the food division. The group operates a seafood processing factory established in Myanmar in 2003 to process fresh seafood harvested from the Andaman Sea. Besides that, it also own local seafood factories to process domestic seafood landings. However, the ongoing civil war in Myanmar has weighed on the economy. Meanwhile, the research house said the polymer business is expected to benefit from the ongoing recovery in the hard disk drive and semiconductor industries, with continued growth from medical life science customers. 'Several new high-margin projects are gaining traction, and more are in the pipeline, supporting margin improvements and operating leverage,' RHB Research said. It added that for the food segment, management is looking to refresh menus and expand into suburban locations, which tends to deliver stronger margins. The appreciation of the ringgit is also likely to help ease raw-material price. However, the research house cautioned that external pressures that will be hard to mitigate will include the industrial segment's weaker demand due to price dumping by China. 'The food division has diversified its supply chain to Thailand since FY24 to manage the impact of foreign exchange controls, and management remains hopeful on gradual easing of those restrictions,' it said. RHB Research said it was downgrading its FY25 to FY27 earnings for Texchem by 14%, 5%, and 5%, respectively, after lowering its margin assumptions for the industrial and food segments. 'Consequently, we lower our target price to RM1.37 which implies a blended 11.2 times forecast FY25 price-earnings multiple. Key risks include weaker-than-expected sales and orders and fluctuations in chemical prices.'
The Star
19-06-2025
- Entertainment
- The Star
Kenneth Ma says part of his salary goes to wife Roxanne Tong & his parents
Hong Kong celebrity couple Kenneth Ma and Roxanne Tong are set to meet fans in Malaysia on June 28. Photo: Kenneth Ma/Instagram Hong Kong actor Kenneth Ma is booked and busy. Over the past few days, the 51-year-old has been on the go – attending a conference in Guangzhou, flying back to Hong Kong for the opening of an automotive company and then heading back to Guangzhou for a brand event. And there's no slowing down. Ma's slated to head to Shenzhen soon for the production of the highly anticipated Queen Of News Season Two, alongside acclaimed actress Charmaine Sheh. He's also holding a meet-and-greet alongside his wife, fellow TVB star Roxanne Tong, in Malaysia on June 28. In a recent interview with HK01, Ma expressed his gratitude for the steady stream of work coming his way in both Hong Kong and mainland China. Describing himself as a relatively cautious person, the actor said he likes to earn in advance and save for the future. 'Money is money. You never know what you might need it for in the future. The economy isn't doing well these days, so it's important to store up for rainy days,' he added. 'I believe money is meant to be spent. When the time comes to use it, you should (spend it wisely).' Ma also opened up about how he distributes his income, revealing that part of his salary goes to his wife while another portion is set aside for his parents. For the record, Ma was previously listed as the second highest-paid TVB actor in 2021, with an annual income of HK$8mil (RM4.3mil). 'Finding work in Hong Kong is very stressful. My dad has been retired for over 20 years. Both families also need support,' he said.
The Star
03-06-2025
- Business
- The Star
Kawan Food's revenue forecast to remain stable
PETALING JAYA: BIMB Research expects Kawan Food Bhd 's revenue to remain stable over the long-term with growth likely to be driven by strong demand for convenient, high-quality frozen food, particularly in key international markets. This will be supported by ongoing product innovation and improved distribution efforts, the research house said in a note to clients. Meanwhile, the group will continue to focus on strengthening its supply-chain resilience and broadening its product offerings. Despite short-term external headwinds, demand remains healthy, as reflected in the group's steady revenue from Malaysia and key export markets, the research house said. However, BIMB Research added that Kawan Food remains cautious given ongoing global volatility from geopolitical tensions and currency fluctuations. On the group's results for the first quarter of this year (1Q25) , the research house said Kawan Food's earnings came below its expectations, with core profit after tax and minority interest of RM4.3mil, which accounts for only 11% of the full-year forecast. Revenue declined by 12.6% year-on-year to RM70.5mil, primarily due to softer demand from export markets with Europe down 25.2% and North America down 52.8%. As a result BIMB Research cut Kawan Food's FY25 and FY26 earnings assumption by 13% and 8% to RM34.4il and RM41.3mil, respectively, to account lower revenue from the export market. It maintained a 'buy' call on the stock with a lower target price of RM1.70 from RM2 earlier.
The Star
02-05-2025
- The Star
Over RM4.3mil lost to online scams in Sandakan in first four months of the year
KOTA KINABALU: More than RM4.3mil was lost to 54 online scam cases in Sandakan district from January to April. A total of 170 online scam cases were reported in the district last year, involving losses amounting to RM23.06mil. Sandakan OCPD Asst Comm Ahsmon Bajah said the victims came from various walks of life, including professionals, business owners and retirees. "Most victims were aged between 31 and 50, and 61.11% were men," he said in a statement on Friday (May 2). He reminded the public to stay alert and avoid becoming mule account holders by handing over their bank details to third parties. 'If convicted, those involved can be investigated under Section 424 of the Penal Code, which carries a penalty of between RM10,000 and RM100,000 in fines, or a jail term of one to seven years, or both,' he said. Police have pledged to continue public education efforts to combat scam cases.
