Latest news with #RM7.1
The Sun
23-06-2025
- The Sun
Johor cops bust RM7.1 million drug syndicate in two major raids
JOHOR BAHRU: Johor Police have successfully busted a drug trafficking syndicate believed to have been active since the beginning of this year through two separate raids in residential areas around Johor Bahru, with the value of the seizure estimated to exceed RM7.1 million. Johor police chief CP Datuk M Kumar said the special operation was carried out by the Narcotics Criminal Investigation Department (NCID) of the Johor police contingent headquarters with Bukit Aman Narcotics Criminal Investigation Division, at about 7.30 pm, between June 14 and 15. He said that in the first raid at a two-storey terrace house in Taman Mutiara Rini, police arrested a 45-year-old local man believed to be the mastermind along with a 34-year-old Vietnamese woman. 'As a result of the inspection, police seized 2.67 kilogrammes of powder believed to be ecstasy and 368 grammes of drugs suspected to be marijuana,' he said in a press conference today. Following the arrest, police launched a second raid on another terrace house about a kilometre from the first location, which had also been rented by the same male suspect since May 2024 and arrested a 23-year-old Vietnamese woman. 'In this second raid, police seized 38 kg of ecstasy powder and 1.37 kg of ketamine,' he said. In both raids, police also seized two cars worth RM190,000, cash RM49,150 and various jewellery worth RM17,630, with the total seizure amounting to RM265,615. He said the two foreign women were believed to have entered the country legally, but further investigations were being conducted into their travel documents. The syndicate is believed to operate in an organised manner, including using social media and delivery via 'runners' and police believe there are still members at large out there and investigations are underway to track them down. He said that apart from being used as a residence, the first house is believed to be used as a place to store drugs, while the second house is a location to package the drug powder into small packets which are believed to be sold in the local market for RM250 to RM350. Kumar said urine tests showed that the man involved tested positive for methamphetamine while the two foreign women tested positive for ketamine and benzodiazepines. All of them have been remanded until June 26 for further investigation under Section 39B of the Dangerous Drugs Act 1952 and Section 6(1)(c) of the Immigration Act 1959/63.
Barnama
23-06-2025
- Barnama
Johor Police Smash Drug Trafficking Syndicate, Seize Drugs Worth Over RM7.1 Mln
JOHOR BAHRU, June 22 (Bernama) -- Johor Police have successfully busted a drug trafficking syndicate believed to have been active since the beginning of this year through two separate raids in residential areas around Johor Bahru, with the value of the seizure estimated to exceed RM7.1 million. Johor police chief CP Datuk M Kumar said the special operation was carried out by the Narcotics Criminal Investigation Department (NCID) of the Johor police contingent headquarters with Bukit Aman Narcotics Criminal Investigation Division, at about 7.30 pm, between June 14 and 15. He said that in the first raid at a two-storey terrace house in Taman Mutiara Rini, police arrested a 45-year-old local man believed to be the mastermind along with a 34-year-old Vietnamese woman. 'As a result of the inspection, police seized 2.67 kilogrammes of powder believed to be ecstasy and 368 grammes of drugs suspected to be marijuana,' he said in a press conference today. Following the arrest, police launched a second raid on another terrace house about a kilometre from the first location, which had also been rented by the same male suspect since May 2024 and arrested a 23-year-old Vietnamese woman. 'In this second raid, police seized 38 kg of ecstasy powder and 1.37 kg of ketamine,' he said. In both raids, police also seized two cars worth RM190,000, cash RM49,150 and various jewellery worth RM17,630, with the total seizure amounting to RM265,615. He said the two foreign women were believed to have entered the country legally, but further investigations were being conducted into their travel documents. The syndicate is believed to operate in an organised manner, including using social media and delivery via 'runners' and police believe there are still members at large out there and investigations are underway to track them down.
New Straits Times
10-06-2025
- Business
- New Straits Times
ASM Automation valued at 21 sen, 24pct above IPO ahead of July 2 debut
KUALA LUMPUR: ACE Market-bound ASM Automation Group Bhd (ASM) boasts a fair value estimate of 21 sen, representing a 23.5 per cent upside from its initial public offering (IPO) price of 17 sen, according to Malacca Securities Sdn Bhd. The firm said the valuation is based on a forward price-to-earnings ratio of 15 times, applied to the automation machinery solutions provider's projected mid-point earnings per share of 1.38 sen for the financial year 2026. "We believe the discount is justified given ASM's smaller market capitalisation, coupled with its single-digit top line growth," the brokerage said in a research report released Tuesday. ASM is scheduled to debut on Bursa Malaysia's ACE Market on July 2. The IPO, which opened for application on May 29 until June 19, is expected to raise RM21.8 million. The bulk of the proceeds will fund business expansion, with 52.2 per cent earmarked for land and factory construction, 10.5 per cent for demonstration machinery and 9.2 per cent for design and development. The remainder will be used for working capital and listing expenses. According to Malacca Securities, ASM holds just a one per cent share of the automation machinery solutions market, but its ability to offer end-to-end automation for food and beverage (F&B) manufacturers is seen as a key strength. "This is reflected in its notable average customer base of 220 as per Financial Years Under Review, including prominent clients like Adabi Consumer Industries Sdn Bhd and Malayan Flour Mills. "ASM's D&D capabilities have also long been hidden gems that F&B manufacturers have yet to recognise," the firm said. Unlike many of ASM's competitors that only supply machinery, the firm said ASM is able to customise its solutions to meet a wide range of manufacturing needs and industry applications. ASM's market versatility is also evident in its involvement beyond F&B, including sectors such as poultry and currency note sorting, which enhances its growth potential. "Given this flexibility, clients are able to utilise more of their manufacturing space, leading to better factory space utilisation and enabling better economies of scale — a win-win situation. "Aligned with government initiatives to shift Malaysia towards a digital economy, ASM intends to enhance its internet of things solutions and robotics technology through its in-house engineering and development with approximately RM2.0 million," the firm added. For the financial year 2024, ASM posted a net profit of RM7.1 million and revenue of RM39.13 million, with a healthy balance sheet. Despite a modest 1.5 per cent earnings compound annual growth rate over three years, ASM is viewed as having stable prospects, underpinned by customised solutions, a stronger capital base and alignment with Malaysia's automation agenda. However, key risks include project delays, supply chain disruptions, talent retention issues, and geopolitical or regulatory uncertainties.
The Star
05-06-2025
- Business
- The Star
PETRONAS not exiting Canada, says group CEO
President and group CEO Tan Sri Tengku Muhammad Taufik Tengku Kamadjaja Aziz KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has reiterated that the company is not exiting Canada. "Canada is not on our exit radar. We're not exiting Canada. We are constantly entertaining overtures and proposals. "That is going to be the natural course of business and it (Canada) is a very resource-endowed geography,' president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said at an editors' briefing here today. Tengku Muhammad Taufik said, in fact, liquefied natural gas (LNG) is coming on stream from Canada, with the first cargo in a couple of weeks. He said there will be a regular shipping out of LNG from Canada, which is at 25 per cent. "We have 53 trillion cubic feet (TCF) of reserves. It is strategically positioned between that coast of Canada and Japan, South Korea, Taiwan, and even China. "Some other LNG routes are compromised by geopolitical hostility… That is another advantage. That was the rationale to do this. We built that node. We wanted to make sure it's strategically positioned, having locational advantage. Petronas hopes to have more engagements and constructive dialogues for the national oil firm to activate additional LNG leverage in Canada. "We hope that the Canadian (new) government will be more appreciative and supportive of it becoming a new, cleaner energy source for the rest of the developing world,' he added. Tengku Muhammad Taufik stressed that it was crucial for Petronas to preserve its position in market share in the LNG space in Canada while also looking at how to build its upstream portfolio effectively. Responding on a question whether Petronas will look to liquidate some assets or diversify, Tengku Muhammad Taufik said Petronas would continue its asset rationalisation to keep its operations lean. He noted that the divestment exercise was done in Argentina as Petronas could not make its assets worked in the country and found an interested party to acquire them. In April this year, Buenos Aires-based Vista Energy has reportedly acquired Petronas' 50 per cent stake in the La Amarga Chica oil field in Argentina's Vaca Muerta shale basin for about US$1.5 billion (RM7.1 billion). The second-biggest crude oil producer in the area will pay US$900 million upfront for the stake, with one-third of that sum financed through a loan from Banco Santander SA, while the remainder will be paid in two instalments in 2029 and 2030. - Bernama
The Sun
05-06-2025
- Business
- The Sun
Petronas not exiting Canada, says group CEO
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has reiterated that the company is not exiting Canada. 'Canada is not on our exit radar. We're not exiting Canada. We are constantly entertaining overtures and proposals. 'That is going to be the natural course of business and it (Canada) is a very resource-endowed geography,' president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said at an editors' briefing here today. Tengku Muhammad Taufik said, in fact, liquefied natural gas (LNG) is coming on stream from Canada, with the first cargo in a couple of weeks. He said there will be a regular shipping out of LNG from Canada, which is at 25 per cent. 'We have 53 trillion cubic feet (TCF) of reserves. It is strategically positioned between that coast of Canada and Japan, South Korea, Taiwan, and even China. 'Some other LNG routes are compromised by geopolitical hostility... That is another advantage. That was the rationale to do this. We built that node. We wanted to make sure it's strategically positioned, having locational advantage. Petronas hopes to have more engagements and constructive dialogues for the national oil firm to activate additional LNG leverage in Canada. 'We hope that the Canadian (new) government will be more appreciative and supportive of it becoming a new, cleaner energy source for the rest of the developing world,' he added. Tengku Muhammad Taufik stressed that it was crucial for Petronas to preserve its position in market share in the LNG space in Canada while also looking at how to build its upstream portfolio effectively. Responding on a question whether Petronas will look to liquidate some assets or diversify, Tengku Muhammad Taufik said Petronas would continue its asset rationalisation to keep its operations lean. He noted that the divestment exercise was done in Argentina as Petronas could not make its assets worked in the country and found an interested party to acquire them. In April this year, Buenos Aires-based Vista Energy has reportedly acquired Petronas' 50 per cent stake in the La Amarga Chica oil field in Argentina's Vaca Muerta shale basin for about US$1.5 billion (RM7.1 billion). The second-biggest crude oil producer in the area will pay US$900 million upfront for the stake, with one-third of that sum financed through a loan from Banco Santander SA, while the remainder will be paid in two instalments in 2029 and 2030.
