Latest news with #RM73
Barnama
18-06-2025
- Business
- Barnama
ANGKASA Eyes Early Achievement Of RM73 Bln Cooperative Revenue Target
KUALA TERENGGANU, June 18 (Bernama) – Angkatan Koperasi Kebangsaan Malaysia Bhd (ANGKASA) expects to achieve its long-term revenue target of RM73 billion by year-end, five years ahead of the 2030 goal set under the Malaysian Cooperative Policy (DAKOM). Its president Datuk Seri Dr Abdul Fattah Abdullah attributed the upbeat forecast to steady annual growth of around RM5 billion, buoyed by broader economic expansion and a range of government-backed initiatives aimed at strengthening the sector. 'The government has introduced various programmes to energise cooperative businesses, which have had a direct impact on revenue,' he said at the ANGKASA Terengganu Cooperative Appreciation Ceremony 2025 held here today. Also present were the Terengganu Cooperative Commission director Awang Ruslli Mohammad and ANGKASA Terengganu chairman Mohamed Yusoff. Abdul Fattah noted that a key factor behind the momentum is the MADANI Rahmah Sales Programme. Last year, the government allocated RM2 million to support 200 ANGKASA-linked cooperatives under the initiative. That funding has since grown to RM10 million, benefiting 444 cooperatives this year. Looking ahead, he said ANGKASA aims to establish 400 new mosque-based cooperatives in 2025, adding to the 600 currently in operation. These grassroots initiatives are intended to boost local economic participation and self-reliance, he added. Abdul Fattah also pointed to rising cooperative engagement in food production and retail as a key revenue driver.
The Sun
13-06-2025
- Business
- The Sun
Two school cooperatives manage to generate more than RM2 million in revenue
GOMBAK: A total of two school cooperatives successfully generated revenue exceeding RM2 million, while 42 others recorded revenue of over RM1 million for the 2024 accounts. The President of Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA), Datuk Seri Dr Abdul Fattah Abdullah, stated that this revenue was achieved through the retail sector, which is a high-impact business capable of bringing significant profits. 'This achievement proves that school cooperatives can be a serious entrepreneurial and business platform, thus becoming the backbone for the formation of successful cooperative entrepreneurs in the future,' he said. He said this when met by Bernama after the School Cooperative RM1 Million Revenue Recognition Award Ceremony at Sekolah Menengah Kebangsaan Taman Melawati, here, today. Abdul Fattah, who is also the President of the ASEAN Cooperative Organisation (ACO), said that the two school cooperatives that recorded over RM2 million in revenue were Koperasi Sekolah Menengah Kebangsaan (SMK) Vokasional Tanah Merah Berhad in Kelantan and Koperasi SMK Kota Kemuning, Shah Alam Berhad in Selangor. Meanwhile, the top three states that recorded school cooperative achievements with revenue exceeding RM1 million were Selangor with 11 cooperatives, followed by Perak (5), and Johor (4). Meanwhile, Abdul Fattah said he is confident that the cooperative movement's revenue target of RM73 billion by 2030, as set by the Malaysian Cooperative Policy 2030 (DaKom 2030), can be achieved this year. According to him, the cooperative movement in the country has so far recorded a revenue of RM68.2 billion. 'Every year there is an increase (in revenue) of RM5 billion. InsyaAllah... the target of RM73 billion can be achieved earlier than targeted,' he added.
Barnama
13-06-2025
- Business
- Barnama
Two School Cooperatives Manage To Generate More Than RM2 Mln In Revenue
GOMBAK, June 13 (Bernama) -- A total of two school cooperatives successfully generated revenue exceeding RM2 million, while 42 others recorded revenue of over RM1 million for the 2024 accounts. The President of Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA), Datuk Seri Dr Abdul Fattah Abdullah, stated that this revenue was achieved through the retail sector, which is a high-impact business capable of bringing significant profits. "This achievement proves that school cooperatives can be a serious entrepreneurial and business platform, thus becoming the backbone for the formation of successful cooperative entrepreneurs in the future," he said. He said this when met by Bernama after the School Cooperative RM1 Million Revenue Recognition Award Ceremony at Sekolah Menengah Kebangsaan Taman Melawati, here, today. Abdul Fattah, who is also the President of the ASEAN Cooperative Organisation (ACO), said that the two school cooperatives that recorded over RM2 million in revenue were Koperasi Sekolah Menengah Kebangsaan (SMK) Vokasional Tanah Merah Berhad in Kelantan and Koperasi SMK Kota Kemuning, Shah Alam Berhad in Selangor. Meanwhile, the top three states that recorded school cooperative achievements with revenue exceeding RM1 million were Selangor with 11 cooperatives, followed by Perak (5), and Johor (4). Meanwhile, Abdul Fattah said he is confident that the cooperative movement's revenue target of RM73 billion by 2030, as set by the Malaysian Cooperative Policy 2030 (DaKom 2030), can be achieved this year. According to him, the cooperative movement in the country has so far recorded a revenue of RM68.2 billion. "Every year there is an increase (in revenue) of RM5 billion. InsyaAllah... the target of RM73 billion can be achieved earlier than targeted," he added.
Rakyat Post
06-06-2025
- Business
- Rakyat Post
Kelantan Homeowners Turn Flood Zones Into Financial Opportunities
Subscribe to our FREE Picture this: You're scrolling through property listings, desperately trying to escape the crushing reality of six-figure home prices, when suddenly, like a mirage in the desert of Malaysian real estate, you spot it. A single-storey terrace house for RM73,000. That's not a typo. We're talking about the price of a mid-range sedan for an actual house with walls, a roof, and everything. Too good to be true? Well, there's a splash of reality you should know about. A local real estate agent recently shared his journey of discovery about this seemingly incredible deal in Pasir Mas, Kelantan. At first glance, the photos show a neat row of houses in a well-planned residential area – the kind of place where you might imagine kids riding bikes and neighbours exchanging rendang recipes during Hari Raya. Plot Twist: When Your Living Room Becomes Atlantis But here's where the plot thickens – and by thickens, we mean quite literally gets submerged. After some digital sleuthing, our intrepid agent uncovered photos that would make Aquaman feel right at home: the entire neighbourhood transformed into an impromptu water park during flood seasons. The listing is a masterclass in why due diligence isn't just real estate jargon – it's your lifeline to avoiding an unexpected swimming pool where your living room should be. For now, this particular slice of Malaysian real estate remains a testament to the age-old wisdom: location, location, location – and maybe check the flood maps while you're at it. Creative Claims: The Unexpected Economics of Flood Zone Living But here's where things get interesting – and surprisingly profitable, according to one creative homeowner. In comments that are raising eyebrows, social media users who claimed to be among the homeowners there shared their unconventional financial strategies. Every time floods hit (which is apparently quite regular), a homeowner said he claimed flood insurance (around RM10,000), building insurance (around RM13,000), and government aid (RM1,000). 'After three floods and three claims,' the homeowner cheekily notes, 'it's like getting the house for free.' They've essentially turned natural disaster insurance into an unexpected investment strategy. Kita dah tahu banjir akan berlaku setiap tahun kan? Saya sarankan ambil perlindungan Takaful yang cover rumah dan isi rumah. Contoh: 1) Rumah = RM 200,000 2) Isi rumah = RM 50,000 Jumlah perlindungan setahun RM 330. Atau RM 28 sahaja sebulan. Buat tindakan bijak sekarang. — Ikhwan Hafiz (@IkhwanHafizLFP) When Monsoon Meets Mortgage: The Reality Check However, before you rush to become a flood-zone property mogul, there's a catch (isn't there always?). As one commenter wisely pointed out, 'Even if you get the house for free, you can't live in it if it's always flooding.' Another noted that insurance companies are catching on – new buyers might find it harder to get coverage now that the area is officially recognised as flood-prone. A resident from nearby Kemaman, Terengganu, chimed in, confirming this isn't an isolated case – flood insurance claims are an annual ritual for many in these areas. The story has evolved from a cautionary tale about too-good-to-be-true real estate into something more complex: a peek into how some Malaysians have adapted to their challenging circumstances, finding silver linings in the storm clouds – quite literally. Depa kata acara tahunan. Tak tau la kelantan ni insurans banjir cover ke tak — afiq (@cognitivebiass) READ MORE : READ MORE : READ MORE : DISCLAIMER : This article is provided for general information purposes only. The views, information and experiences shared are based on publicly available information and individual social media posts. Any references to specific properties, areas, or financial matters should not be taken as financial or investment advice. Readers are strongly advised to conduct their own due diligence and seek professional advice before making any property-related decisions. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
New Straits Times
30-05-2025
- Business
- New Straits Times
Padini's Q3 earnings beat forecasts on stronger margins
KUALA LUMPUR: Padini Holdings Bhd's third-quarter (Q3) results for the financial year ending June 30, 2025 (FY25), exceeded expectations due to stronger-than-anticipated gross profit margins, said Maybank Investment Bank Bhd (Maybank IB). The company reported a net profit of RM73 million for Q3, bringing its cumulative nine-month profit to RM152 million. This represents 92 per cent of Maybank IB's full-year forecast and 99 per cent of consensus estimates. "The earnings beat was primarily driven by better-than-expected gross profit margins. Padini also declared a fourth interim dividend per share (DPS) of 1.8 sen and a special DPS of one sen," Maybank IB said in a note. Looking ahead, the research house expects sequential earnings to be seasonally weaker in the absence of major festivities, though the recent appreciation of the ringgit against the renminbi could offer some cushion. "We have raised our FY25 earnings forecast by five per cent to reflect stronger gross margins, while maintaining our FY26 and FY27 estimates. Rolling forward our valuation to FY26, we raise our target price to RM2.85," it said. Maybank IB maintained its 'Buy' call on Padini, citing its mass-market positioning and affordability, which make it a key beneficiary of rising consumer disposable income.
