Latest news with #RM5.9
The Sun
05-07-2025
- Business
- The Sun
Pahang gets RM5.9 billion for 38 water infrastructure projects
KUANTAN: The federal government has allocated RM5.9 billion for 38 water infrastructure projects in Pahang under the 12th Malaysia Plan (12MP). The Ministry of Energy Transition and Water Transformation (PETRA) confirmed the funding, which aims to improve clean water access and sustainable supply services. Datuk Mohd Rodzwan Mohd Baba Sakri, PETRA Deputy Secretary-General (Water), stated that RM504.2 million was approved this year under the Fifth Rolling Plan (RP5). 'The federal government remains committed to ensuring sustainable project implementation for the benefit of Pahang residents,' he said during the World Water Day (HAS) celebration. The event, themed 'Water for Life' and carrying the slogan 'AirKU, HidupKU, DuniaKU,' was held at Dataran Sayangi Kuantan. Pahang Investment, Industry, Science, Technology, and Innovation Committee chairman Datuk Mohamad Nizar Mohamad Najib officiated the two-day celebration.
New Straits Times
24-06-2025
- Business
- New Straits Times
SSF Home's Q4 net profit falls 5pct on margin pressure
KUALA LUMPUR: SSF Home Group Bhd posted a five per cent drop in net profit to RM5.8 million for the fourth quarter ended April 30, 2025, from RM6.2 million a year earlier, dragged by a lower gross profit margin. Quarterly revenue edged up 0.7 per cent to RM50.9 million, supported by sales from newly opened outlets. For the full year, net profit fell 17.8 per cent to RM5.9 million from RM7.2 million, as revenue slipped four per cent to RM152.5 million from RM158.9 million due to weaker overall sales. The company expects rising production and logistics costs from the expanded Sales and Service Tax, inflationary pressures, and slower global growth amid geopolitical tensions and trade negotiations with the United States. However, it expressed confidence in adapting through strategic pricing, improved cost efficiency, and strong supply chain partnerships. "The group remains committed to strengthening its retail positioning through value-for-money offerings, strategic pricing, and product innovation that align with evolving consumer preferences. "In line with our rebranding efforts, SSF Home is focused on delivering affordable and practical home living solutions, supported by refreshed store formats and enhanced customer experience," it said in a bourse filing. Executive director Lok Kok Khong said the group remained focused on executing its strategic plans despite a tough operating landscape. "This includes expanding into major urban areas, enhancing the retail experience, and staying in tune with shifting consumer preferences," he said.
New Straits Times
19-06-2025
- Business
- New Straits Times
Govt urges closer industry ties with MPOB to boost palm oil R&D
Previous Next BANGI: The government is inviting industry players to collaborate closely with the Malaysian Palm Oil Board (MPOB) to advance research and development (R&D) in strategic areas of the palm oil industry. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said enhanced collaboration with MPOB would lead to the commercialisation of more innovations, benefiting both entrepreneurs and the agency. "When entrepreneurs are confident in their R&D, about 70 per cent of it can be commercialised," he told reporters at the MPOB Palm Oil Technology Transfer Programme (TOT) 2025, here today. "When that happens, they benefit, and so does MPOB, which can earn royalties for endorsing these innovations," he added. In his speech, Johari said one of MPOB's initiatives is to collaborate with Kuala Lumpur Kepong Bhd's subsidiary KL-Kepong Industrial Holdings Sdn Bhd, SALCRA in Sarawak and the Johor State Agriculture Corp to commercialise animal feed technology. He said this initiative has the potential to significantly reduce import dependency and ensure the resilience of the local supply chain. Johari added that MPOB will explore research into developing eco-friendly palm-based products to replace conventional, non-sustainable alternatives. He said palm-based transformer insulating oil is currently being considered by Tenaga Nasional Bhd as a replacement for petroleum-based transformer oil in the country's power substation network. "Palm-based transformer oil has market potential estimated to reach a value of US$287 million by 2030," he said. To date, the commercialisation of MPOB technologies has generated more than RM5.9 billion in market value, contributing to operational efficiency and product value enhancement across the palm oil sector. "I am confident that the MPOB TOT Programme will benefit industry players and all attendees by providing an opportunity to interact with technology inventors and research officers.
Hype Malaysia
10-06-2025
- Entertainment
- Hype Malaysia
POP MART Founder Wang Ning Now Richest Person In China's Henan Province
The POP MART craze is taking the world by storm! The popularity of these collectable dolls has gone through the roof. The results? Catapulting the wealth of the founder, Wang Ning (王宁). According to reports, the founder and CEO of Pop Mart International Group recently saw an increase in his net worth. As reported on the Forbes website, Wang Ning's net worth recently jumped by US$1.4 billion (approximately RM5.9 billion), and he's now worth US$ 21.7 billion (approximately RM88 billion). With this new net worth, the 38-year-old is now the wealthiest man in Henan, China. Forbes attributes Wang Ning's wealth to the success of his toy company, founded in 2010. The brand, known for its figurine blind boxes, became a publicly listed company in Hong Kong in 2020. POP MART boasts a variety of products from different series, including Dimoo, Skullpanda and Molly. However, its most popular character is Labubu, which debuted under the company in 2019. The Labubu character is the brainchild of Hong Kong artist Kasing Lung (龍家昇), who designed the character in 2015. The artist's partnership with POP MART in 2019 helped popularise the character and the accompanying 'Monsters' line. However, Labubus only became a sought-after collectable after BLACKPINK's Lisa was spotted with a Labubu keychain on her bag, sparking a trend in Southeast and East Asia. POP MART currently operates over 500 stores worldwide, with 100 overseas outlets. In Malaysia, there are seven POP MART outlets, including the largest store in The Exchange TRX. Surprisingly, Wang Ning revealed that the company's overseas business sales could exceed 50% by the end of 2025, surpassing its domestic Chinese sales. This revelation hints at POP MART's growing global popularity. With new collaborations and launches happening every month, it won't be long before Wang Ning's net worth increases again. What are your thoughts on this? Sources: Oriental Daily, Forbes What's your Reaction? +1 0 +1 0 +1 0 +1 0 +1 0 +1 0
BusinessToday
22-05-2025
- Business
- BusinessToday
KLK 2Q Profit Falls To RM154 Million, Hit By Overseas Associate Losses, FX Impact
Kuala Lumpur Kepong Bhd Kuala Lumpur Kepong Berhad (KLK) posted a lower net profit of RM154 million for its second quarter ended March 31, 2025 (2QFY25), down from RM220 million in the preceding quarter, despite a rise in group revenue to RM6.3 billion, compared to RM5.9 billion in 1QFY25. On a year-on-year basis, KLK's 2Q pre-tax profit rose 15% to RM269.9 million from RM234.7 million in 2QFY24, supported by a 16.2% increase in revenue to RM6.34 billion. Segmental Performance Manufacturing The group's manufacturing segment narrowed its loss to RM38.3 million, compared to RM53.4 million in 1QFY25. The improvement was largely driven by: Higher revenue of RM5.42 billion (1QFY25: RM4.76 billion), Stronger profit contribution from the Oleochemical division, and A smaller loss from its non-oleochemical operations. However, the segment continued to be weighed down by losses in its refinery and kernel crushing operations. Property Development The property segment saw its profit slump 53.4% to RM3.5 million, from RM7.5 million in 1QFY25, on lower revenue of RM39.7 million (1QFY25: RM44.1 million), reflecting a slower property market. Investment Holding/Others This segment posted a larger loss of RM94.8 million, widening from RM58.1 million in the previous quarter. The decline came despite a stronger farming profit of RM34.6 million (1QFY25: RM186,000), as the group absorbed a RM63.3 million equity loss from its UK-listed associate Synthomer plc, which continues to face performance headwinds. Net corporate expenses increased to RM54.8 million (1QFY25: RM50.6 million), mainly due to a larger foreign exchange loss of RM40 million from the translation of intercompany loans denominated in foreign currencies. This was partly offset by a RM3.9 million gain from land sales and government acquisitions. Despite challenges in its manufacturing and investment holding arms, KLK remains supported by steady revenue growth and contributions from its oleochemical business. However, the group's near-term profitability may remain volatile due to external pressures, particularly from its overseas associate performance and currency fluctuations Related
