Latest news with #RM580
New Straits Times
6 days ago
- Automotive
- New Straits Times
Jo Ghani: Govt exploring ways to expand biodiesel use
BANTING: The government is looking to expand the use of biodiesel in the country in its efforts towards a more sustainable fuel source, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. He said the national biodiesel programme, which has been running since 2011, has stalled in terms of adopting a higher blend of palm biodiesel, citing capital expenditure and infrastructure constraints. "In 2019, Malaysia made B7 mandatory for the industrial sector and B10 for the logistics sector, but we have not moved to B20 since then because it requires significant capital expenditure of RM580 million. "So we are working on how to implement it, who should bear the subsidy, and we want to see what happens once it becomes B20, how it will affect diesel prices, all of that needs to be examined," he told reporters after launching the B30 Biodiesel pilot project at SD Guthrie Bhd's Golden Hope Academy in Carey Island today. As for today's event, SD Guthrie Bhd will fully transition to using B30 biodiesel for all its operational machinery and company vehicles that run on diesel at its plantation operations in Carey Island. B30 biodiesel, a blend of 30 per cent palm-based biodiesel and 70 per cent petroleum-based diesel, is a cleaner fuel and can reduce greenhouse gas (GHG) emissions by up to 23 per cent per litre compared to conventional diesel. He said that if biodiesel usage can be widely implemented nationwide, there may be price adjustments for the commodity. However, Johari declined to elaborate on how it might affect the targeted fuel subsidies, saying it is still too early to disclose details. "The use of palm biodiesel offers clear environmental benefits. It not only helps reduce GHG emissions compared to traditional diesel, but it is also sulphur-free," he added.
The Star
6 days ago
- Automotive
- The Star
Johari: Govt exploring ways to expand biodiesel use
Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani BANTING: The government is looking to expand the use of biodiesel in the country in its efforts towards a more sustainable source of fuel, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. He said the national biodiesel program, which has been running since 2011, has stalled in terms of adopting a higher blend of palm biodiesel, citing capital expenditure and infrastructure constraints. "In 2019, Malaysia made B7 mandatory for the industrial sector and B10 for the logistics sector, but we have not moved to B20 since then because it requires significant capital expenditure of RM580 million. "So we are working on how to implement it, who should bear the subsidy, and we want to see what happens once it becomes B20 - how it will affect the diesel prices - all of that needs to be examined," he told reporters after launching the B30 Biodiesel pilot project at Guthrie's Golden Hope Academy in Carey Island today. As for today's event, SD Guthrie Bhd will fully transition to using B30 biodiesel for all its operational machinery and company vehicles that run on diesel at its plantation operations in Carey Island. B30 biodiesel, a blend of 30 per cent palm-based biodiesel and 70 per cent petroleum-based diesel, is a cleaner fuel and can reduce greenhouse gas (GHG) emissions by up to 23 per cent per litre compared to conventional diesel. He explained that if biodiesel usage can be widely implemented nationwide, there may be price adjustments for the commodity. However, Johari declined to elaborate on how it might affect the targeted fuel subsidies, saying it is still too early to disclose details. "The use of palm biodiesel offers clear environmental benefits. It not only helps reduce GHG emissions compared to traditional diesel, but it is also sulphur-free," he added. - Bernama
The Sun
6 days ago
- Automotive
- The Sun
Malaysia explores biodiesel expansion for sustainable fuel
BANTING: The government is actively exploring ways to expand biodiesel usage nationwide as part of its push for cleaner and more sustainable fuel alternatives, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. He noted that while Malaysia's biodiesel program has been in place since 2011, progress towards higher blends like B20 has been slow due to financial and logistical hurdles. 'In 2019, we mandated B7 for industries and B10 for logistics, but moving to B20 requires RM580 million in capital expenditure. We are studying the financial impact and subsidy mechanisms before implementation,' he explained during the launch of the B30 biodiesel pilot project at Guthrie's Golden Hope Academy in Carey Island. The B30 initiative, led by SD Guthrie Bhd, involves switching all plantation machinery and company diesel vehicles to a 30 per cent palm biodiesel blend. This fuel reduces greenhouse gas emissions by up to 23 per cent per litre compared to conventional diesel. Johari emphasised that wider biodiesel adoption could influence palm oil prices but declined to comment on potential fuel subsidy adjustments, stating it was premature to disclose details. 'The environmental advantages are clear. Palm biodiesel cuts emissions and is sulphur-free, making it a greener alternative,' he added. The government continues to assess the economic and infrastructural feasibility of scaling up biodiesel usage across industries. - Bernama
New Straits Times
15-07-2025
- Business
- New Straits Times
Econpile set for earnings surge after clearing project backlog
KUALA LUMPUR: With legacy projects now behind it and RM580 million worth of jobs in hand, Econpile Holdings Bhd is setting the stage for a sharper earnings recovery, according to CGS International. The research house said this marks a turnaround that could drive a surge of more than 600 per cent in core earnings per share (EPS) in the current financial year. CGS maintained its "Add" rating on the construction and piling specialist with a target price of 46 sen, representing a 21 per cent upside from its current price of 38 sen. "Econpile's orderbook is now free of lingering legacy issues, which should lead to better earnings and margin recovery as new projects kick in," it said in a research note. The company had previously encountered setbacks in several projects, including the Face 3 development, a Mont Kiara job and road upgrading works in Pahang. CGS noted that these issues have since been resolved. With legacy projects cleared, Econpile is expected to rebound from a net loss of RM25.2 million in FY25 to a net profit of RM21.6 million in FY26 and further to RM45.6 million in FY27, supported by stronger revenue recognition and more consistent project execution. This translates into core EPS growth of 652 per cent in FY26, followed by a further 111 per cent in FY27. Just two weeks into the new financial year that began on July 1, Econpile has already secured RM125 million worth of new jobs, or 31 per cent of its FY26 target of RM400 million. This includes a RM98.2 million contract for bored piling and basement works for Malaysia Milk's plant extension in Kapar, Klang, awarded by Eastmont Sdn Bhd and a RM27 million job for two serviced apartment blocks in Selangor. CGS expects more job wins ahead, supported by the rollout of government infrastructure, data centre and industrial building projects. It sees Econpile as a prime beneficiary, given its ownership of the largest fleet of bored pile rigs in Malaysia. "Key re-rating catalysts include the crystallisation of Econpile's memorandum of understanding for the Sungai Klang Link project, which could pave the way for RM1.4 billion worth of piling contracts," it said. Downside risks include potential delays in the rollout of large-scale infrastructure jobs and higher raw material costs, which could affect margins and order flows. With legacy issues resolved and strong job momentum early in the year, CGS said Econpile is well-positioned to deliver stronger results moving forward.
New Straits Times
02-07-2025
- Business
- New Straits Times
Tropicana, MBSB Bank offer attractive financing for Johor's Skypark Kepler
JOHOR BHARU: Tropicana Corp Bhd has teamed up with MBSB Bank to offer an attractive financing package for Skypark Kepler, the first branded residences by Banyan Group, located within the Lido Waterfront Boulevard (Lido) development in Johor. Under the collaboration, eligible buyers can enjoy competitive financing margins from as low as 3.85 per cent and flexible loan tenures of up to 35 years. The exclusive financing solution, coupled with a special preferential rate, is tailored specifically for Skypark Kepler purchasers, said Usman Ghouse, MBSB Bank's group head of consumer banking. "We are proud to support Tropicana's Skypark Kepler with a tailored financing package, making premium homeownership more accessible to various buyers alike," said Usman. "This collaboration reflects MBSB Bank's ongoing commitment to empower aspiring homeowners through smart, flexible financial solutions." Skypark Kepler is the first phase of Lido, strategically situated within the Johor Bahru Waterfront Zone - a premium incentive area under the Flagship A Johor-Singapore Special Economic Zone. Starting from RM580,000, Skypark Kepler comprises 1,596 fully furnished designer units ranging from 463 sq ft to 807 sq ft across two elegant 54-storey towers, designed to appeal to young professionals, families and retirees alike. Tropicana managing director for marketing, sales and business development Ixora Ang shared that partially furnished units in Tower A are priced at about RM1,300 per sq ft, while the fully furnished residences in Tower B, featuring premium fittings and furnishings from brands like Samsung and Kohler, are priced at about RM1,800 per sq ft. "We conceptualised the Lido master plan years ago, envisioning it as Johor's future metropolis and our crown jewel in the Southern region. Lido will be a landmark township integrating seven key components, exceptional connectivity, and sustainable smart city living," she said. "We hosted soft launches to gauge the market response to this first, branded residences, and have received positive feedback." Tropicana executive director for marketing and sales Jenny Low said around 80 units at Skypark Kepler have been sold to date, with a gross development value of RM100 million - most purchases coming from foreign buyers. Skypark Kepler's official launch was marked by the unveiling of its new show units and an upgraded property gallery at Danga Bay. The freehold development stands out for its many unique features, including international zoning, proximity to the Johor Bahru-Singapore Rapid Transit System, unobstructed waterfront views, a 2.5km coastal boardwalk, a 32-acre green park, and a cultural centre. In November 2024, Tropicana held the official groundbreaking ceremony with main contractor China State Construction Engineering Corporation and signed partnership agreements with Banyan Group, Samsung, and Kohler for the residences' premium finishes and appliances. In May 2025, Tropicana appointed global architecture firm Skidmore, Owings and Merrill to lead the Lidomaster plan transformation. According to Dr. Jeffrey Yee, Tropicana's managing director for the southern region, Skypark Kepler is slated for completion and handover by late 2029 or early 2030.
