Latest news with #RM67
New Straits Times
07-07-2025
- Business
- New Straits Times
PMCK to post steady earnings growth through FY27
KUALA LUMPUR: Private healthcare provider PMCK Bhd is expected to register higher core earnings from financial year 2024 (FY24) to FY27, supported by room upgrades and stronger revenue intensity. Hong Leong Investment Bank (HLIB) said it projects PMCK's core earnings to grow at a compound annual growth rate (CAGR) of 3.8 per cent over the three-year period. The firm is scheduled for listing on Wednesday, aiming to raise RM67 million from its initial public offering at 22 sen per share. HLIB said values PMCK at 22 sen per share, based on a 10 times enterprise value-to-earnings before interest, taxes, depreciation and amortisation (Ebitda) multiple on its 2026 forecast. "This reflects a 25 per cent discount to the sector average of 13.5 times," HLIB said in a note, adding that the discount is warranted as PMCK has a more limited geographic presence, mainly concentrated in Kedah. It said unlike IHH Healthcare Bhd and KPJ Healthcare Bhd, which offer tertiary care, PMCK primarily operates as a community hospital providing secondary care and its projected three-year earnings CAGR of 3.8 per cent lags behind IHH's 9.7 per cent and KPJ's 9.2 per cent. PMCK is a private healthcare provider delivering a wide array of services, which include specialist consultant care, healthcare support and various medical service segments. These additional services encompass general dental care, polyclinic treatments, and medical laboratory testing. At present, PMCK runs a 121-bed private medical centre, along with a polyclinic, two dental clinics and a medical laboratory.
New Straits Times
01-07-2025
- Politics
- New Straits Times
55 vetted for free Rumah Kasih Johor homes
JOHOR BAHRU: A total of 55 candidates from various districts in Johor have been vetted to receive free homes under the Rumah Kasih Johor (RKJ) programme. Johor Housing and Local Government Committee chairman Datuk Mohd Jafni Shukor said that 36 candidates would be supported, 18 rejected, and the remaining one would be suspended pending further evaluation. He said that candidates were selected during an RKJ selection committee meeting that he chaired today, with presentations by seven district offices – Batu Pahat, Mersing, Kota Tinggi, Kulai, Pontian, Johor Bahru, and Kluang. "The meeting is a manifestation of the state government's determination to ensure that selection is fair and based on the true needs of the public. "We cannot only view it from the administrative aspect, but view it with empathy and integrity so that the homes given can really be a ray of hope to those who have been neglected," he said, adding that the decision was made through consensus and based on strict criteria. Machap, Kota Iskandar, Johor Jaya, Tiram, Mahkota, Mengkibol, Paloh, Tenggaroh, Semarang, Seri Medan, Pekan Nenas, Panti, Pasir Raja, Johor Lama, Layang-Layang, Kahang, Penawar, and Kukup were among the state constituencies involved in the programme, and Kota Iskandar assemblyman Datuk Pandak Ahmad and Penawar assemblyman Fauziah Misri were also present at the meeting. The Johor government allocated RM67 million for the building of 500 free units under the RKJ programme, while in 2023, 50 units worth RM6.5 million were completed and handed to recipients, Mohd Jafni said. "This year, 165 units worth RM22 million are in the process of technical investigation and site visits, with the first building phase starting on May 15," he added.— BERNAMA
Focus Malaysia
26-06-2025
- Business
- Focus Malaysia
The day when SMI has all its AGM resolutions rejected by majority shareholders
PROPERTY developer South Malaysia Industries Bhd (SMI) which is facing backlash over governance concern has had all four resolutions proposed by its current board of directors 'rejected and voted down' during the company's 53rd annual general meeting (AGM) in Johor Bahru today (June 26). This decisive rejection came from proxies representing Target 1 Sdn Bhd, Honsin Apparel Sdn Bhd and HIQ Media (M) Sdn Bhd who collectively hold 50.05% of SMI's shares. 'Given this absolute majority, the outcome of the voting was effectively determined, rendering further polling unnecessary,' the company pointed out in a Bursa Malaysia filing 'Consequently, pursuant to an order from the Kuala Lumpur High Court dated June 20 arising from an application filed by (self-nominated director) Teh Chee Hoe, the AGM has been adjourned to a future date to be set by the Court. The four resolutions set out in SMI's Notice of the 53rd AGM were: To re-appoint Messrs UHY Malaysia PLT as auditors of the company until the conclusion of the next AGM at a remuneration to be determined by the directors; To approve the payment of directors' fees and benefits of up to RM350,000 to non-executive directors of the company and subsidiaries; To re-elect Latifah Abdul Latiff who is retiring by rotation given she has offered herself for re-election; and Authority to allot and issue shares in general pursuant to Sections 75 and 76 of the Companies Act 2016. 'This unprecedented outcome demonstrates shareholders' concerns regarding the governance and direction of the company, hence marking a pivotal moment for SMI and its stakeholders,' a market observer told FocusM. Earlier on June 17, SMI said it had rejected a proposal to nominate Teh and three others as directors at its AGM, citing violations of corporate and securities regulations. In a stock exchange filing, SMI had received the proposal on June 12 from Teh who nominated Ng Fun Kim, Ling Chi Hoong, Amy Tan Li Peng and himself for election to the company's board. 'Based on the investigations by the company, the SMI board of has been advised that Teh did not satisfy the requirements of Section 323 of the Companies Act 2016 (CA 2016),' noted SMI. 'Additionally, he (Teh) is also connected to Target 1 Sdn Bhd which has issued a notice of unconditional mandatory take-over offer dated Aug 20 on the company (SMI).' At the close of today's (June 26) market trading, SMI was down 0.5 sen or 1.54% to 32 sen with 1,000 shares traded, thus valuing the company at RM67 mil. – June 26, 2025
Borneo Post
09-06-2025
- Business
- Borneo Post
Sharp land tax increase puts financial pressure on Miri cooperative
Chong (third left) presides over the cooperative's AGM. MIRI (June 9): Koperasi Petani-Petani Miri Berhad has voiced serious concern over a sharp spike in its annual land tax, which has surged by 325 per cent – from RM440 to RM4,249 – posing a significant challenge to its 2025 financial planning. During its annual general meeting yesterday, secretary Oscar Chai revealed that the 2024 budget had only allocated RM1,000 for land tax, leaving a shortfall of RM3,249 due to the unexpected increase. 'The 2024 budget had only allocated RM1,000 for land tax. This unexpected increase left us a shortfall of RM3,429. 'In addition, Telekom Malaysia's rate hike in communication charges resulted in costs exceeding the initial budget by RM3602.10,' said Chai. The cumulative impact of these increases has led to a deficit of RM802.10, he highlighted. To address the situation, members of the cooperative unanimously agreed to adjust and subsidise the budget shortfalls for land tax and communication expenses. Meanwhile, board chairman Chong Vui Kuok proposed an 8.5 per cent dividend pay-out for the 2025 financial year – the highest in recent years – as a gesture of appreciation for members' continued support and contributions. 'In 2024, the cooperative recorded a total income of RM229, 722.00 and a net profit of RM67,433.00. 'This would not have been possible without the tireless support and trust of our members,' said Chong, adding that the board is committed to giving back to members through meaningful dividends. He further explained that the cooperative's income streams are primarily derived from dividends on investments in Bank Rakyat, agricultural land management fees, and rental income from shop lots and fixed deposits. In 2024 alone, it received RM91,439.15 in dividends from its RM554,207.00 investment in Bank Rakyat, he added. The proposed dividend distribution will be finalised upon member agreement and internal approval. Currently, the cooperative has 300 registered members managing over 300 acres of agricultural land. Beyond financial matters, the cooperative also reported efforts to upgrade and maintain critical agricultural infrastructure – including drainage systems, weed control, and road access. It also announced that new land lease agreements are being finalised to ensure fairness and improved returns for members managing larger land plots. These initiatives underscore the cooperative's strategic commitment to sustainable growth, financial prudence, and long-term member benefits. Koperasi Petani-Petani Miri Berhad land tax lead Oscar Chai
New Straits Times
28-05-2025
- New Straits Times
Perlis Customs seizes untaxed ciggies, liquor, arrests senior citizen
PADANG BESAR: Perlis Customs seized untaxed cigarettes and liquor worth over RM34,000, with unpaid duties exceeding RM70,000, in two separate raids in Taiping, Perak and Sungai Petani, Kedah over the weekend. The contraband was found stored in residential homes repurposed as makeshift warehouses. During one of the operations, a 60-year-old man believed to be the mastermind behind the illegal activity was arrested. Officers also seized three vehicles allegedly used to transport the untaxed goods. State Customs director Ismail Hashim said the first raid was conducted at 2.15am on May 17 following a tip-off about suspicious activities at the suspect's residence. "We found three cars parked outside the house. Upon inspection, 24,210 sticks of undeclared cigarettes and 113.25 litres of liquor were found in the boot of the vehicles," he said. The suspect, a trader, allegedly confessed to running the smuggling operation from his home for the past year. Authorities believe the goods were sourced from the Klang Valley. "The seized cigarettes include cigarettes from Indonesia and Germany. They were believed to be intended for distribution around Taiping," he said. In the second raid at about 1.30pm the same day, officers stormed a vacant house in Bukit Banyan, Sungai Petani and found 73,040 sticks of cigarettes worth RM50,563.80 hidden in a living room. "Although the two cases are not directly linked, we believe the modus operandi is similar, using cars or vacant premises as storage sites before distributing the items around Taiping and Sungai Petani," Ismail said. He added that the cigarettes and liquor found in the vehicles during the first raid appeared to have been recently acquired from suppliers. In total, 97,250 sticks of cigarettes worth RM33,258 were seized, involving unpaid duties estimated at RM67,510.80. The 113.25 litres of liquor were valued at RM1,489.52, with duties totalling RM2,734.41. "All three vehicles, believed to belong to the suspect, were also seized. Each is estimated to be worth around RM10,000," Ismail said. Cigarettes and liquor are restricted items and subject to import permits issued by the Customs Director-General under Items 1 and 3, Schedule III, Part II of the Customs (Prohibition of Imports) Order 2023. The case is being investigated under Section 135(1)(d) of the Customs Act 1967. If convicted, the offender may be fined not less than 10 times the value of the goods or RM100,000, whichever is higher, and not more than 20 times the value or RM500,000, or face imprisonment of between six months and five years, or both.
