Latest news with #ShahrilRidzaRidzuan
The Star
10-06-2025
- Business
- The Star
Paradigm-REIT makes Main Market debut, the largest M-REIT IPO in over a decade
KUALA LUMPUR: Paradigm Real Estate Investment Trust (Paradigm-REIT) began trading on the Main Market of Bursa Malaysia today, opening at its initial public offering (IPO) price of RM1. At 9.42 am, the counter advanced two sen, or 2%, to RM1.02, with 13.85 million shares changing hands, making it one of the most actively traded counters. 'The listing of Paradigm REIT marks a proud milestone for our team and Malaysia's REIT landscape. While we opened flat at RM1.00, we view this as a stable and encouraging start — especially in a market where volatility has become the norm,' Paradigm REIT Management Sdn Bhd chairman and independent non-executive director Tan Sri Shahril Ridza Ridzuan said in a statement. He added that strong support from both institutional and retail investors reflects confidence in the REIT's portfolio and long-term strategy. 'We remain focused on delivering consistent value to our unitholders and executing our strategy in making our assets more value-accretive,' Shahril said. Paradigm REIT's current portfolio comprises three prime shopping centres – Paradigm Mall Petaling Jaya, Paradigm Mall Johor Bahru, and Bukit Tinggi Shopping Centre – collectively valued at RM2.4bil and strategically located in high-traffic, high-growth urban areas. The IPO is the largest Malaysian REIT IPO in the past 13 years and one of the largest IPOs in Malaysia for 2025. Paradigm REIT has committed to distributing at least 90% of its distributable income on a half-yearly basis, making it an appealing proposition for income-seeking investors.
New Straits Times
28-05-2025
- Business
- New Straits Times
Axiata's Q1 earnings more than double to RM160mil
KUALA LUMPUR: Axiata Group Bhd posted a strong set of results for the first quarter ended March 31, 2025 (1QFY2025), with net profit more than doubling to RM159.8 million from RM60.03 million a year earlier. This was underpinned by merger synergies, lower depreciation and amortisation expenses, favourable foreign exchange (Forex) movements and a higher profit contribution from CelcomDigi Bhd. However, its revenue fell 11.3 per cent to RM5.09 billion, weighed down by the depreciation of the Indonesian rupiah and Bangladeshi taka. The improved bottom line was also supported by reduced impairment charges, lower marketing and promotional spending, and net forex gains amounting to RM28.4 million. In a statement, the group noted that all of its telecommunications units except XLSmart, contributed to earnings growth, alongside continued momentum from CelcomDigi. "Underlying net profit was impacted by one-off losses, without which it would have recorded a 7.4 per cent growth," it said. Chairman Tan Sri Shahril Ridza Ridzuan said the results demonstrate Axiata's ability to adapt, integrate and grow amid a volatile macroeconomic environment. "With a solid financial footing, strategic clarity and strong leadership across our markets, we are laying the groundwork for enduring relevance in Southeast and South Asia's digital future. "The board remains focused on ensuring governance strength, strategic discipline and long-term resilience as we continue to shape the next chapter of the group," he added. Axiata's basic earnings per share rose to 1.7 sen in 1QFY2025 from 0.7 sen in the corresponding quarter last year. Axiata said both of its jointly controlled entities are progressing well in their integration efforts, with synergy realisation on track. CelcomDigi is expected to generate RM700 million in annual run-rate synergies by 2027, while XLSmart is targeting annual pre-tax synergies of between US$300 million (RM1.27 billion) and US$400 million within the same period. The group is actively monetising its infrastructure assets, including Link Net and Edotco Group, as part of its strategy to attract capital investment and pare down debt. Axiata's frontier market operations - Robi Axiata Ltd, Dialog Axiata PLC and Smart Axiata - continued to demonstrate resilience, posting strong profit growth and positive cash flow despite ongoing market volatility.
The Star
28-05-2025
- Business
- The Star
Axiata's 1Q net profit leaps to RM159.84mil
KUALA LUMPUR: Now in the second year of its 5*5 strategy, Axiata Group Bhd realised robust bottomline growth in the first quarter of 2025, underpinned by lower depreciation and amortisation, forex gains, lower net finance costs and a higher share of results from CelcomDigi. In the quarter under review, the telco group reported a net profit of RM159.84mil, more than double the net profit of RM60.03mil in the year-ago quarter, bringing its earnings per share to 1.7 sen from 0.7 sen previously. This was despite an 11.3% lower revenue of RM5.09bil, down from RM5.74bil in 1QFY24, due to forex translation, notably from the depreciation of the Indonesian rupiah and Bangladeshi taka. According to the group, there was substantial progress in 1QFY25 towards its strategic long-term and medium-term portfolio ambitions, driven by a sharper portfolio mindset. "The group's operational start to the new financial year clearly demonstrates our commitment to creating value from our portfolio of businesses. This quarter's performance highlights Axiata's ability to adapt, integrate and grow in a dynamic regional landscape, even amidst macroeconomic volatility," said chairman Tan Sri Shahril Ridza Ridzuan. Group CEO and managing director Vivek Sood said the group has taken steps to reposition towards its long and medium-term portfolio objectives. "We are confident that our strategic framework, focused on strengthening connectivity and convergence businesses while streamlining our portfolio for value creation and monetisation, will enable us to capitalise on significant market opportunities."
