Latest news with #RM64
New Straits Times
2 days ago
- New Straits Times
Drug trafficking syndicate smashed – RM64,000 in narcotics seized, 4 arrested
GEORGE TOWN: Police have crippled a drug trafficking syndicate operating across Penang and Kedah with the arrest of four men and the seizure of over RM64,000 worth of drugs and assets in a two-day operation. The arrests were made between 4pm on Sunday and 5am yesterday by a team from the state Narcotics Criminal Investigation Department (NCID), following intelligence gathered on the syndicate's activities, believed to have been active since May. Acting state police chief Datuk Mohd Alwi Zainal Abidin said three suspects, aged between 32 and 61, were detained at a vehicle parking lot in Seberang Jaya, where police discovered 10 compressed packets of dried leaves believed to be ganja, hidden in two canvas bags in the car boot. "The total weight of the seized ganja from the first raid was 9,920g, with an estimated street value of RM53,500," he said in a statement today. Acting on leads from the initial arrests, police conducted a follow-up raid in Gurun, Kedah, where another man was arrested. Alwi said further inspection led to the discovery of a gunny sack containing seven packets of suspected ganja weighing 6,995g, four packets of heroin (30.34g), and three packets of syabu (3.45g). "The combined volume of drugs seized is sufficient for about 35,000 uses," added Alwi. Urine screenings revealed that three of the suspects tested positive for methamphetamine, while the fourth tested positive for a combination of amphetamine, methamphetamine, ketamine and morphine. Alwi said all four had prior records of criminal and drug-related offences. The suspects have been remanded for seven days from yesterday until July 27 to assist in investigations under Section 39B of the Dangerous Drugs Act 1952, which carries the mandatory death penalty or life imprisonment and whipping of not less than 12 strokes upon conviction. As part of asset forfeiture measures under the Dangerous Drugs (Forfeiture of Property) Act 1988, police also seized a Perodua Rusa valued at RM11,000. The total value of the drug haul and seized assets is estimated at RM64,500. Alwi reaffirmed the police's commitment to eradicating drug distribution networks, adding that joint efforts with other enforcement agencies would continue in a bid to strengthen intelligence sharing and enforcement actions. The public is urged to report any information related to drug abuse or trafficking to the NCID via its hotline at 012-208 7222.
New Straits Times
2 days ago
- New Straits Times
Four arrested, RM64,500 drugs seized in Penang, Kedah raids
GEORGE TOWN: Police have crippled a drug trafficking syndicate operating across Penang and Kedah with the arrest of four men and the seizure of over RM64,000 worth of drugs and assets in a two-day operation. The arrests were made between 4pm on Sunday and 5am yesterday by a team from the state Narcotics Criminal Investigation Department (NCID), following intelligence gathered on the syndicate's activities, believed to have been active since May. Acting state police chief Datuk Mohd Alwi Zainal Abidin said three suspects, aged between 32 and 61, were detained at a vehicle parking lot in Seberang Jaya, where police discovered 10 compressed packets of dried leaves believed to be ganja, hidden in two canvas bags in the car boot. "The total weight of the seized ganja from the first raid was 9,920g, with an estimated street value of RM53,500," he said in a statement today. Acting on leads from the initial arrests, police conducted a follow-up raid in Gurun, Kedah, where another man was arrested. Alwi said further inspection led to the discovery of a gunny sack containing seven packets of suspected ganja weighing 6,995g, four packets of heroin (30.34g), and three packets of syabu (3.45g). "The combined volume of drugs seized is sufficient for about 35,000 uses," added Alwi. Urine screenings revealed that three of the suspects tested positive for methamphetamine, while the fourth tested positive for a combination of amphetamine, methamphetamine, ketamine and morphine. Alwi said all four had prior records of criminal and drug-related offences. The suspects have been remanded for seven days from yesterday until July 27 to assist in investigations under Section 39B of the Dangerous Drugs Act 1952, which carries the mandatory death penalty or life imprisonment and whipping of not less than 12 strokes upon conviction. As part of asset forfeiture measures under the Dangerous Drugs (Forfeiture of Property) Act 1988, police also seized a Perodua Rusa valued at RM11,000. The total value of the drug haul and seized assets is estimated at RM64,500. Alwi reaffirmed the police's commitment to eradicating drug distribution networks, adding that joint efforts with other enforcement agencies would continue in a bid to strengthen intelligence sharing and enforcement actions. The public is urged to report any information related to drug abuse or trafficking to the NCID via its hotline at 012-208 7222.
New Straits Times
3 days ago
- Business
- New Straits Times
Bursa Malaysia Q2 earnings likely to fall on weak trading, says Affin Hwang
KUALA LUMPUR: Bursa Malaysia Bhd may report a second straight quarterly decline in earnings for the second quarter of 2025 (2Q25), as weak market sentiment and reduced trading activity continue to weigh on its performance. Affin Hwang Investment Bank Bhd expects Bursa Malaysia's 2Q25 net profit to come in at RM64 million, down 6.4 per cent quarter-on-quarter and 20.3 per cent year-on-year. Affin Hwang said the weaker performance would be attributed to lower trading activity across the board, particularly among local institutional investors. "Due to a more cautious market sentiment, Bursa Malaysia saw another subdued quarter, with 2Q25 average daily value (ADV) declining to RM2.4 billion. "This further dampens the overall the first half of 2025 equity ADV, which came in lower by 23.5 per cent year-on-year at RM2.6 billion," the firm added. "Until there is more clarity regarding ongoing global trade negotiations, we believe investors are likely to maintain a wait-and-see approach, keeping market sentiment muted in the near term," Affin Hwang said. Affin Hwang also revised its earnings forecast for Bursa Malaysia downwards, citing the lack of a strong catalyst in the second half of the year. It also lowered its equity ADV assumptions for 2025, 2026 and 2027 to RM2.6 billion, RM2.8 billion, and RM2.9 billion respectively, from RM2.8 billion, RM2.9 billion and RM3.0 billion previously. This has resulted in earnings forecast cuts of 5 per cent for 2025, and 3 per cent each for 2026 and 2027. Bursa Malaysia is expected to release its latest results on July 29. Affin Hwang maintained its "Hold" call on Bursa Malaysia but reduced its target price to RM7.50 from RM7.70 previously. The firm said the revised valuation is based on a price-to-earnings ratio (PER) of 22 times, which is in line with Bursa Malaysia's 10-year average. "At a calendar year 2026 price to earnings ratio of 23 times, Bursa Malaysia is trading slightly below the regional peers at about 26 times, which we view as fair given Malaysia's relatively smaller market capitalisation and lower trading velocity," it added.
Daily Express
05-07-2025
- Daily Express
RM103,000 Criminal Breach of Trust: Clerk claims trial
Published on: Saturday, July 05, 2025 Published on: Sat, Jul 05, 2025 By: Cynthia D Baga Text Size: The offence, under Section 408 of the Penal Code, carries a jail term of between one and 14 years, and whipping, and liable to fine, on conviction. Kota Kinabalu: A 37-year-old accountant clerk claimed trial to three counts of committing criminal breach of trust involving a sum of RM103,351.36. Brandon Ng Jia Lie made the plea after the charges were read before three Sessions Court Judges, Hurman Hussain, Elsie Primus and Noor Hafizah Mohd Salim, Friday. Advertisement On the first count, Ng is accused of breaching the trust given to him as an accountant clerk by depositing two cheques amounting to RM6,462.50 belonged to Syarikat Sime Darby Industrial Sdn Bhd, into his bank account for his own use. The alleged incident took place between Nov 16, 2021 and Dec 31, 2021 at the Standard Chartered Bank Malaysia Berhad, here. On the second count, he allegedly committed criminal breach of trust by depositing another eight cheques amounting to RM64,169.26 belonged to Syarikat Sime Darby Industrial Sdn Bhd, into his bank account for his own use, between Feb 29, 2022 and Dec 29, 2022 at the same place. On the third count, Ng is accused of committing the offence by depositing five cheques amounting to RM32,719.60 belonged to Syarikat Sime Darby Industrial Sdn Bhd, into his bank account for his own use at the same place between Feb 3, 2023 and July 27, 2023. The offence, under Section 408 of the Penal Code, carries a jail term of between one and 14 years, and whipping, and liable to fine, on conviction. The court set Aug 12, this year, and released on bail of RM5,000 in two local sureties for each charge. Ng was also ordered to report to the nearest police station every first and third Friday of the month and his passport, if any, to be impounded by the court until the disposal of his case. Earlier, the prosecution objected to bail Ng on the grounds that he has three charges against him but if the court were to grant bail, there were several conditions to be imposed on him. Ng, who was not represented, asked for bail to be given to him saying that it was his first court case and if he was denied bail, there's no one else to financially provide for his family since his wife is a full-time housewife. He also claimed that he has no authority to sign or approve any cheque. Ng requested for the amount of bail to be between RM2,000 and RM3,000, adding that he would apply for the legal service from the National Legal Aid Foundation. Deputy Public Prosecutor (DPP) Nurul Shafeerah Mad Iskim and DPP Fazriel Fardiansyah Abdul Kadir appeared for the prosecution * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
30-06-2025
- Business
- The Sun
Perak's socioeconomic recovery gains momentum under 2030 plan
LENGGONG: Perak is making steady progress in its socioeconomic recovery following the pandemic, with significant improvements recorded under the Perak Sejahtera 2030 development plan, said Menteri Besar Datuk Seri Saarani Mohamad. Speaking at the third-year progress report presentation, Saarani highlighted that 108 out of 272 planned projects have been completed since the initiative's launch in June 2022. Another 128 projects are underway, while 36 are in pre-implementation stages. 'The state government has identified 127 additional projects to be included in the Perak Sejahtera 2030 Dashboard for systematic monitoring,' he said. The state is focusing on five key economic growth nodes while exploring new sectors such as the Blue, Green, and Care Economies to drive sustainable development. Economic indicators reflect Perak's recovery, with the state shifting from a RM70 million deficit to a surplus of RM64 million in 2023, the highest in its history. Unemployment has also declined to 3.9 per cent in 2024 from 4.7 per cent in 2021. 'The improved financial performance allows us to increase welfare allocations, ensuring better support for those in need,' Saarani added. The progress is attributed to strong collaboration between state and federal governments in implementing people-centric initiatives.
