Latest news with #RM9.8mil
The Star
11-07-2025
- Business
- The Star
SkyGate to raise stake in SkyGate Integration to 95% via RM9.8mil share deal
KUALA LUMPUR: SkyGate Solutions Bhd has entered into a share sale agreement with Ong Chee Fui to acquire a 44% equity interest in SkyGate Integration Sdn Bhd for RM9.8mil. In a filing with Bursa Malaysia, the telecommunications and technology firm said the purchase will be fully satisfied through the issuance of approximately 14.63 million new SkyGate shares at 67 sen per share. This follows SkyGate's earlier announcement on April 15, 2025 regarding the acquisition of a 51% stake in SkyGate Integration for RM10.71mi cash. As part of that deal, SkyGate Integration owed RM1.08mil to Ong, which was part of a loan from Kumpulan Modal Perdana Sdn Bhd (KMP). Under the current proposal, SkyGate will settle the RM1.08mil owed to Ong by issuing 1.61 million new SkyGate shares at 67 sen per share. Upon completion of the proposed acquisition, SkyGate Integration will become a 95%-owned subsidiary of the company. SkyGate said the proposed acquisition is part of its long-term strategy to grow the group's business, strengthen operations, and deliver greater value to shareholders. It added that the move will enhance its market position and support growth in the electrical and electronics (E&E) sector. SkyGate Integration's expertise in software development, system integration, and technology solutions complements the group's existing portfolio, allowing it to offer a wider range of services to more customers.
The Star
30-06-2025
- Business
- The Star
Consumer caution to weigh on Beshom's earnings
PETALING JAYA: Herbal medicines and healthcare products company Beshom Holdings Bhd may face near-term earnings headwinds as the government's fuel subsidy rationalisation and the expanded sales and service tax (SST) take effect in the second half of the year. The policy changes may weigh on consumer sentiment, analysts said. In recently released results for its financial year ended April 30 (FY25), Beshom said its core earnings of RM9.8mil declined 14.7% year-on-year despite a 2.6% increase in revenue to RM155.1mil. TA Research said the results came in within expectations, accounting for 100% of its projections and consensus forecasts. The earnings decline was due to weaker performances across both the company's wholesale and retail divisions, which partially offset the improved results from the multi-level marketing (MLM) division. There was also a higher effective tax rate of 30.9% in FY25, compared with 24.2% in the previous year. Despite weaker earnings in FY25, the group declared a final dividend of 1.5 sen per share for the quarter under review, bringing its year-to-date dividends to three sen a share. Revenue for the group's wholesale division increased slightly in FY25, supported by stronger sales from one of its new ranges of wellness products. The MLM division also saw a small increase in revenue following stronger sales of fashion and beauty products. However, the retail division underperformed because of reduced sales of higher-margin products, coupled with higher operating and marketing expenses. Going forward in the absence of major festive periods, TA Research anticipates headwinds to persist in the first half of FY26. 'Nonetheless, we forecast a stronger performance in FY26's second half, supported by festive-driven demand. The research house maintained a 'hold' rating on the stock and kept its target price unchanged at 64 sen based on 12 times FY26's earnings per share.
The Star
15-05-2025
- Politics
- The Star
Johor govt to haul up contractors if high-impact projects are delayed
JOHOR BARU: Contractors will have to answer to the Johor government if their high-impact projects, including flood mitigation works, face issues or delays in completion. Housing and local government committee chairman Datuk Mohd Jafni Md Shukor said this was to ensure that any issues arising are tackled early on to avoid delays. 'The state government has allocated about RM100mil for high-impact developments this year, which involves more than 10 projects in various parts of Johor. 'These include flood mitigation projects at hotspots such as Kampung Mohd Amin with an allocation of RM9.8mil and the construction of an on-site detention pond in the low-lying Jalan Dato Sulaiman worth RM7.7mil,' he said after visiting the project sites on Thursday (May 15). He said RM10.3mil was also allocated to upgrade Johor Baru Hutan Bandar in three phases to improve its children's pool, campsite and jogging tracks; RM2.7mil to upgrade the Taman Merdeka park; RM7.3mil for phase two upgrades of the Johor Zoo; and RM9.3mil to widen Persiaran Abu Bakar Sultan from the existing four lanes to six. The other projects include the RM18.7mil Sungai Lebam upgrading works in Pengerang to turn the area into a tourism attraction with a children's water park and recreational facilities. He said most of the projects were scheduled for completion by the end of this year, also in time for Visit Johor 2026, which is set to kick off on Jan 1. 'We are monitoring the progress of the projects regularly to give monthly updates to Mentri Besar Datuk Onn Hafiz Ghazi's office, as he is particular about meeting deadlines. 'If there are... delays, the contractor will be called in for questioning as the state government wants to ensure the projects' completion." Jafni, accompanied by Johor Baru mayor Datuk Mohd Haffiz Ahmad and government agency representatives, also visited several project sites such as the roadworks near the Bangunan Sultan Iskandar customs, immigration and quarantine complex, and repainting of the overhead pedestrian crossings in Skudai Kiri.
