Latest news with #RM10.8mil
The Star
4 days ago
- The Star
Two held, drugs worth nearly RM11mil seized in Bukit Kayu Hitam, say cops
JITRA- Police foiled an attempt to smuggle heroin base and methylenedioxy-methamphetamine (MDMA) powder from Thailand with the arrest of two individuals in separate operations in Bukit Kayu Hitam on Sunday (June 15). Bukit Aman Narcotics Criminal Investigation Department (NCID) acting director DCP Mat Zani @ Mohd Salahuddin Che Ali said the operation, conducted in collaboration with Thai authorities, resulted in the seizure of 120.46kg of heroin base and 2.37kg of MDMA, with an estimated value of RM10.8mil. He said the arrests were made based on intelligence sharing and coordinated efforts between the Royal Thai Police, Kedah NCID, and Penang NCID. "The first arrest involved a 37-year-old male suspect who was driving a car. He was stopped at 5.40pm at the Bukit Kayu Hitam Immigration, Customs, Quarantine and Security (ICQS) Complex, where an inspection uncovered 160 transparent plastic packages containing compressed heroin base, weighing 59.20kg, hidden in a specially modified compartment behind the rear passenger seat. "At 5.55pm the same day, police intercepted another car, this time driven by a 35-year-old woman, at a petrol station along the North-South Expressway, from the direction of the Bukit Kayu Hitam ICQS Complex,' he said. "An inspection of a specially modified compartment behind the rear passenger seat uncovered 155 transparent plastic packages containing compressed heroin base weighing 61.26kg, along with 35 packets of MDMA powder weighing 2.37kg,' he told reporters at the Kubang Pasu police headquarters here Thursday (June 19). Mat Zani said the syndicate's modus operandi involved using privately owned vehicles modified specifically for smuggling drugs from neighbouring countries into Malaysia, before transporting them for processing in Penang and other parts of the northern region. He added that the two suspects were believed to be acting as 'transporters' and were each paid RM20,000 to deliver the illicit substances. "This was the syndicate's second attempt to smuggle drugs into the country, and successfully foiled,' he said, adding that police have identified other members of the syndicate and are working to detain them for further investigation. He said both suspects had no prior criminal records and tested negative for drugs. They have been remanded for seven days, starting June 16, to assist in investigations under Section 39B of the Dangerous Drugs Act 1952. "Action has also been taken under the Dangerous Drugs (Forfeiture of Property) Act 1988, with three vehicles, estimated to be worth RM66,000, seized for further action,' he said. - Bernama
The Star
26-05-2025
- Business
- The Star
TH Plantations to gain from output recovery
PETALING JAYA: TH Plantations Bhd is expected to post better earnings, given the anticipation of a recovery in output following recently normalised weather, says Maybank Investment Bank Research (Maybank IB). The planter recorded a headline profit after tax and minority interest (Patmi) of RM8.4mil for the first quarter of financial year 2025 (1Q25), which was down 67% quarter-on-quarter and eased 2% year-on-year (y-o-y). Its Patmi was watered down by unrealised foreign-exchange loss, mitigated by fair value gains on biological assets. Adjusted, TH Plantations posted a 1Q25 core Patmi of RM10.8mil that was 23% of Maybank IB's full-year forecasts. The research house had lowered TH Plantations' earnings forecasts as the 1Q25 results were slightly below expectations. 'Following our earnings cut, we lowered our target price on the stock to 54 sen from 58 sen previously,' the research house noted. Maybank IB has also conservatively trimmed TH Plantations' fresh fruit bunch growth by 4% for financial year 2025 (FY25), FY26 and FY27 respectively, which implied y-o-y growth estimates for FY25 at 1% (previously 5%) while FY26 and FY27 growth estimates were unchanged at 2% y-o-y. Meanwhile, the it has cut its FY25-FY27 core Patmi by 7% each year. It said 'earnings are sensitive to output changes due to our all-in operating cost to customer forecast of RM2,800 per tonne.' 'The group's key catalyst remains the speed of its deleveraging exercise to improve its balance sheet position,' said Maybank IB. It added that the banking group continued to earmark RM810mil of its assets for disposal as at end-March 2025.
