Latest news with #RM1.7
New Straits Times
2 days ago
- Business
- New Straits Times
Kenanga IB sees limited impact on Scientex from US tariffs
KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB) expects only minimal direct impact from the US tariffs threat for Scientex Bhd as the group has a manufacturing plant in the United States, making its exports to the US below five per cent of its total revenue. Kenanga IB said management had guided on a challenging outlook for its plastic packaging segment given global economic and tariffs uncertainties and aggressive competition in the market. "As the price of crude oil has surged more than 10 per cent lately largely due to the latest escalations of geopolitical tensions in the Middle East, we are monitoring any potential increase in resin price," it said in a note today. In a Bursa Malaysia filing yesterday, Scientex recorded a lower net profit of RM123.87 million for the third quarter ended April 30, 2025, compared with RM130.50 million in the same period a year ago. The packaging manufacturer and property developer said lower profit was mainly attributed to lower export sales and foreign exchange losses in the packaging division, which saw its revenue decline by 6.4 per cent to RM614.8 million from RM656.9 million. For its property division, Kenanga IB said sales of its affordable properties should continue to be resilient given encouraging take-up rates from recent launches. The group's unbilled sales stood at RM1.7 billion as of the second quarter of this fiancial year. "In the past one year, we observe continuous demand for affordable houses priced below the RM500,000 mark while we saw rising appetite for housing in the range of RM500,000 to RM1 million signalling improving affordability," it added. The research house maintained Scientex as 'market perform' with a higher target price of RM3.60 from RM3.34 previously. As of 10.53 am, Scientex's share price rose one sen to RM3.35, with 789,00 shares traded on Bursa Malaysia.
The Sun
4 days ago
- Business
- The Sun
Malaysian Takaful Association donates RM50,000 to support UPSI bus crash victims
TANJONG MALIM: The Malaysian Takaful Association (MTA) has contributed RM50,000 to the Ministry of Higher Education's Prihatin Fund to support the families and students of Universiti Pendidikan Sultan Idris (UPSI) affected by the recent bus crash in Gerik. MTA chief executive officer Mohd Radzuan Mohamed said the funds were raised through contributions from corporate entities directly involved in the national takaful industry. 'We are deeply saddened by this tragedy. On behalf of the takaful industry, we extend our heartfelt condolences to all the families affected. 'This is a moment for unity. While we cannot undo what has happened, this contribution reflects our compassion and our commitment to serving the community,' he told Bernama at the UPSI students' bus tragedy memorial held at the Tuanku Canselor Hall last night. Also present at the event were Perak Menteri Besar Datuk Seri Saarani Mohamad, Higher Education Minister Datuk Seri Dr Zambry Abd Kadir, State Secretary Datuk Ahmad Suaidi Abdul Rahim, state executive councillor for Education, Higher Education, Youth and Sports Khairudin Abu Hanipah, and UPSI vice-chancellor Prof Datuk Dr Md Amin Md Taff. Mohd Radzuan noted that in addition to MTA, several takaful companies such as Etiqa Takaful, Syarikat Takaful Malaysia and Hong Leong MSIG Takaful Berhad also contributed to the Prihatin Fund. The fund, established specifically to support the victims and families affected by the UPSI student bus crash in Gerik, has to date raised RM1.7 million in donations. 'Of that amount, 10 percent came from MTA and takaful companies directly involved in the industry. This reflects our commitment to the core takaful principle of mutual assistance, built on a foundation of community spirit and solidarity,' he said. On June 9, 15 UPSI students were killed after a chartered bus traveling from Jertih, Terengganu, to the university's main campus in Tanjung Malim overturned following a collision with a Perodua Alza along the East-West Highway. The crash also left 33 others injured, including the bus driver and assistant, as well as the driver and three passengers in the Perodua Alza.
Barnama
4 days ago
- Business
- Barnama
Malaysian Takaful Association Donates RM50,000 To Support UPSI Bus Crash Victims
TANJONG MALIM, June 17 (Bernama) -- The Malaysian Takaful Association (MTA) has contributed RM50,000 to the Ministry of Higher Education's Prihatin Fund to support the families and students of Universiti Pendidikan Sultan Idris (UPSI) affected by the recent bus crash in Gerik. MTA chief executive officer Mohd Radzuan Mohamed said the funds were raised through contributions from corporate entities directly involved in the national takaful industry. 'We are deeply saddened by this tragedy. On behalf of the takaful industry, we extend our heartfelt condolences to all the families affected. 'This is a moment for unity. While we cannot undo what has happened, this contribution reflects our compassion and our commitment to serving the community,' he told Bernama at the UPSI students' bus tragedy memorial held at the Tuanku Canselor Hall last night. Also present at the event were Perak Menteri Besar Datuk Seri Saarani Mohamad, Higher Education Minister Datuk Seri Dr Zambry Abd Kadir, State Secretary Datuk Ahmad Suaidi Abdul Rahim, state executive councillor for Education, Higher Education, Youth and Sports Khairudin Abu Hanipah, and UPSI vice-chancellor Prof Datuk Dr Md Amin Md Taff. Mohd Radzuan noted that in addition to MTA, several takaful companies such as Etiqa Takaful, Syarikat Takaful Malaysia and Hong Leong MSIG Takaful Berhad also contributed to the Prihatin Fund. The fund, established specifically to support the victims and families affected by the UPSI student bus crash in Gerik, has to date raised RM1.7 million in donations. 'Of that amount, 10 percent came from MTA and takaful companies directly involved in the industry. This reflects our commitment to the core takaful principle of mutual assistance, built on a foundation of community spirit and solidarity,' he said. On June 9, 15 UPSI students were killed after a chartered bus traveling from Jertih, Terengganu, to the university's main campus in Tanjung Malim overturned following a collision with a Perodua Alza along the East-West Highway.
The Sun
4 days ago
- Business
- The Sun
MTA donates RM50,000 to support UPSI bus crash victims
TANJONG MALIM: The Malaysian Takaful Association (MTA) has contributed RM50,000 to the Ministry of Higher Education's Prihatin Fund to support the families and students of Universiti Pendidikan Sultan Idris (UPSI) affected by the recent bus crash in Gerik. MTA chief executive officer Mohd Radzuan Mohamed said the funds were raised through contributions from corporate entities directly involved in the national takaful industry. 'We are deeply saddened by this tragedy. On behalf of the takaful industry, we extend our heartfelt condolences to all the families affected. 'This is a moment for unity. While we cannot undo what has happened, this contribution reflects our compassion and our commitment to serving the community,' he told Bernama at the UPSI students' bus tragedy memorial held at the Tuanku Canselor Hall last night. Also present at the event were Perak Menteri Besar Datuk Seri Saarani Mohamad, Higher Education Minister Datuk Seri Dr Zambry Abd Kadir, State Secretary Datuk Ahmad Suaidi Abdul Rahim, state executive councillor for Education, Higher Education, Youth and Sports Khairudin Abu Hanipah, and UPSI vice-chancellor Prof Datuk Dr Md Amin Md Taff. Mohd Radzuan noted that in addition to MTA, several takaful companies such as Etiqa Takaful, Syarikat Takaful Malaysia and Hong Leong MSIG Takaful Berhad also contributed to the Prihatin Fund. The fund, established specifically to support the victims and families affected by the UPSI student bus crash in Gerik, has to date raised RM1.7 million in donations. 'Of that amount, 10 percent came from MTA and takaful companies directly involved in the industry. This reflects our commitment to the core takaful principle of mutual assistance, built on a foundation of community spirit and solidarity,' he said. On June 9, 15 UPSI students were killed after a chartered bus traveling from Jertih, Terengganu, to the university's main campus in Tanjung Malim overturned following a collision with a Perodua Alza along the East-West Highway. The crash also left 33 others injured, including the bus driver and assistant, as well as the driver and three passengers in the Perodua Alza.
New Straits Times
4 days ago
- New Straits Times
Company manager loses over RM1.7mil in share investment scam
JOHOR BARU: A 67-year-old man lost more than RM1.7 million after falling victim to a share investment scam via WhatsApp. Johor police chief CP Datuk M Kumar said the victim, a private company manager, lodged a report on June 12 claiming that his phone number had been added to a WhatsApp group named 'C-10 Freeman Saham 17' in April. "The victim was promised daily returns of five to 10 percent based on market share prices and his investment amount. Enticed by the offer, he made 12 fund transfers between April 16 and May 30 to five different bank accounts, totalling RM1,772,603," he said in a statement last night. However, after making the payments, the victim did not receive the promised returns. Instead, he was asked to pay an additional RM500,000, which raised suspicions and led him to believe he had been scammed. "To date, the promised returns have not been received, resulting in a total loss of RM1,772,603," he said. The case is being investigated under Section 420 of the Penal Code, which carries a jail term of between one and ten years, caning, and a possible fine upon conviction. He urged the public to remain vigilant and not be easily swayed by investment offers on social media that promise quick and high returns with minimal effort. "The public is also advised to verify such offers with relevant authorities such as the Royal Malaysia Police, Bank Negara Malaysia, and the Securities Commission to ensure their legitimacy. "In addition, use the Semak Mule service to check the status of bank accounts and phone numbers before proceeding with any payments," he added. He also called on the public to stay informed about current commercial crime trends to avoid falling prey to scams. Information on common scam tactics can be found on the official social media accounts of the Commercial Crime Investigation Department on Facebook, Instagram, and TikTok. – BERNAMA
