FGV posts RM36.5mil Q1 profit on stronger CPO prices
KUALA LUMPUR: FGV Holdings Bhd returned to profitability in the first quarter ended March 31, 2025 (Q1 FY25).
The company posted a net profit of RM36.5 million compared to a net loss of RM13.5 million in the same period last year, lifted by higher crude palm oil (CPO) prices.
Its revenue rose 10.8 per cent to RM5 billion for the period from RM4.5 billion previously, driven by a higher average crude palm oil (CPO) price.
FGV said the average crude palm oil (CPO) price realised for the quarter was RM4,784 per tonne, higher than RM3,907 per tonne last year.
In a statement, the company said the plantation division remained the main revenue contributor, supported by a six per cent improvement in fresh fruit bunch (FFB) yield and a 24 per cent increase in FFB price.
Despite the current higher CPO price of about RM4,700 per tonne, FGV expects the price to ease to around RM4,000 per tonne in the coming months, as supply improves with favourable weather, seasonally higher cropping cycles and the absence of festive-related demand.
Group chief executive officer Fakhrunniam Othman said the steady growth compared to the same quarter last year reflects the
resilience of operations and the positive impacts of ongoing agronomic improvements.
"While challenges persist across several business segments, we are focused on driving operational efficiency, unlocking value from underperforming assets and further enhancing integration across the group to ensure long-term, sustainable growth across plantation, oils and fats, sugar, logistics and support and the consumer products divisions," he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
10 hours ago
- The Star
Setel and TNG Digital bring in-app fuel payments to TNG eWallet at PETRONAS stations nationwide
Setel chief executive officer Abdullah Ayman Awaluddin (right) and TNG Digital chief executive officer Alan Ni showcasing the Setel and TNG eWallet apps during the MoU signing ceremony to mark the launch of the 'PETRONAS via Setel' mini programme. KUALA LUMPUR: Setel Ventures Sdn Bhd (Setel) has formalised a strategic partnership with TNG Digital Sdn Bhd (TNGD) to enable fuelling and payments right at the pump via TNG eWallet, available at over 1,000 PETRONAS stations nationwide. This landmark integration brings Setel's proprietary pump-and-pay technology to one of Malaysia's largest digital wallets. The collaboration, formalised through a recent Memorandum of Understanding (MoU), allows users to pay for fuel seamlessly without leaving their vehicle or needing to download a separate app. The new feature is available through the 'PETRONAS via Setel' mini programme within the TNG eWallet. Setel chief executive officer Abdullah Ayman Awaluddin said, 'This partnership reflects our ongoing commitment to scale Setel's platform through ecosystem integration that delivers meaningful impact. 'Refuelling is a high-frequency transaction. Embedding Setel within TNG eWallet allows us to meet users where they are and reinforce our vision to deliver seamless and frictionless mobility and retail experiences through digital innovation.' TNG Digital chief executive officer Alan Ni said, 'This partnership with Setel supports our goal of integrating practical, everyday services into the lives of our users. 'Fuel payments are a regular routine for many individuals and this collaboration makes the process faster and more accessible, while creating new touchpoints within PETRONAS' nationwide network. 'We actively encourage partnerships that not only enhance convenience for users, but also give our partners the opportunity to reach a wider, digitally engaged audience.' To mark the launch, a limited-time promotion will reward the first 50,000 eligible transactions made through the TNG eWallet mini programme with RM5 worth of Mesra Rewards points. This applies to new users of Setel and Mesra Rewards, as well as existing Mesra users linking their ID to Setel for the first time. Additionally, users will also earn TNG eWallet's GOrewards points for each transaction made through the mini programme (terms and conditions apply). Beyond the immediate rewards, this partnership reflects Setel and TNG Digital's shared ambition to make everyday mobility smarter and more rewarding – merging fuel, payments and loyalty into one integrated experience for Malaysian motorists.
The Sun
12 hours ago
- The Sun
Misinformation, staff shortage hitch to e-invoicing compliance
PETALING JAYA: A large number of micro, small and medium enterprises (MSMEs) are struggling to navigate Malaysia's upcoming e-invoicing mandate, largely due to misinformation, manpower shortages and a persistent reliance on manual processes. This is the finding of global e-invoicing provider Xero, based on a recent survey involving 500 MSMEs across the country. 'The 'why' is clear to most. It's the 'what' and 'how' that businesses are grappling with,' Xero Asia managing director Karen Wines told theSun. 'Many MSMEs lack dedicated finance or tech teams to lead the transition. In fact 49% report challenges in digitising large volumes of data, while 45% cite limited internal technical expertise as a key barrier.' She added that such struggles are not unique to Malaysia, as small businesses globally face similar hurdles in adopting digital systems. Karen said mindset remains a major stumbling block as many still depend on spreadsheets or manual record-keeping. 'The attitude of 'don't fix what isn't broken' makes some hesitant to adopt digital tools, especially if they associate them with higher costs, complexity, or a steep learning curve.' Nevertheless, she urged MSMEs to embrace gradual digitalisation, saying that even small steps could deliver significant long-term gains. 'Smaller businesses often benefit the most. With limited staff and resources, automation helps cut time spent on repetitive tasks while improving cash flow visibility and accuracy.' Meanwhile, Chia, Ka & Partners (CKP) managing partner Jeremy Chia welcomed the government's recent decision to delay the rollout of e-invoicing, noting that many MSMEs are still unprepared. He said confusion remains rife, with some wrongly assuming e-invoicing merely involves emailing invoices. 'In reality, it means adopting structured data formats, ensuring secure submission via the MyInvois portal, and integrating systems in line with the framework of the Inland Revenue Board (IRB).' Chia said e-invoicing offers long-term advantages, including faster payments, better financial oversight and reduced human error. 'It will also nudge more SMEs to adopt monthly rather than annual accounting, improving financial transparency and record-keeping. 'The shift will ease audits, enable better tax planning and accelerate digitalisation across the sector.' It was reported that Malaysia's move towards e-invoicing is part of a broader effort to modernise tax administration under the Tax Reform Committee, established in 2018. The IRB first outlined plans for e-invoicing in 2023 under the National e-Invoicing Initiative, citing the need to boost tax compliance, reduce fraud and improve efficiency. Initially scheduled for rollout in Aug 2025 for businesses with RM100 million annual revenue, the mandate has since been staggered. Following pushback from smaller enterprises, the government postponed implementation for MSMEs to January next year (for those earning RM1 million–RM5 million annually) and July 2026 (for those below RM1 million). The delays come amid industry concerns over readiness, cost and integration challenges, especially among micro-enterprises that lack the digital infrastructure of larger firms. Despite this, authorities have maintained that e-invoicing will be compulsory across the board, making preparation critical for long-term business resilience.
Daily Express
13 hours ago
- Daily Express
What's happening with ‘BMW-class' smart toilets, Ti asks Nga
Published on: Monday, June 23, 2025 Published on: Mon, Jun 23, 2025 By: Sean Augustin, FMT Text Size: Former MCA vice-president Ti Lian Ker said housing and local government minister Nga Kor Ming owed the public an explanation. PETALING JAYA: Former MCA vice-president Ti Lian Ker has demanded an update from housing and local government minister Nga Kor Ming on the minister's initiative to turn four public toilets into smart toilets. Ti said there had not been any progress report after Nga announced in November that an additional RM4 million had been allocated for the toilets to be built in four locations in Kuala Lumpur and Putrajaya. 'It isn't a paltry sum, which is why the ministry owes the tax-paying public an update,' he said. Ti said the public needed toilets that were clean and functioning. However he questioned the need to spend RM4 million on four toilets at a time when the people were grappling with the increasing cost of living. 'This money could be put into better use by providing low cost housing for the needy. We should not be tone deaf to the plight of the hard-core poor by replacing their needs for shelter with million dollar toilets,' he said. Last year, Nga said funds were allocated to construct two 'BMW-i' or Bersih, Menawan, Wangi (clean, attractive, and fragrant) smart toilets each in Kuala Lumpur and Putrajaya, with such features as built-in automatic bidets, automatic floor-cleaning machines, and automatic doors for people with disabilities. Advertisement Ti said today: 'We don't need no BMW-class toilets. We need functional and easy to maintain toilets instead of high class toilets with higher end maintenance.' He said a recent outcry over a MyKiosk project by Nga's ministry had made it even more urgent for an update on the toilet scheme. In May, Selangor MCA Youth filed a complaint calling for an investigation into the project's funding and execution. In response, Nga dismissed allegations that the initiative was a white elephant. Under the plan, standardised trading spaces will be provided for rent by the B40 group and small traders. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
