Latest news with #RM3.5bil
The Star
5 days ago
- Business
- The Star
Stats Dept introducing agricultural production index to aid national food security
KEPALA BATAS: The Statistics Department will introduce a National Agricultural Production Index to strengthen food security by addressing critical data gaps in the agriculture sector. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the index, to be pushed quarterly, would offer a more comprehensive view of agricultural output, supporting evidence-based policymaking in a sector central to both livelihoods and economic stability. The index is being developed in collaboration with several government agencies and will mirror existing statistical frameworks used for the manufacturing, electricity and services sectors. "This data will help identify which areas are experiencing increases in agricultural output and the information can be shared across agencies for planning and policy-making purposes," he said on Tuesday (June 17) after launching the 2024 Penang Interim Agriculture Census Report, officiated by Penang agrotechnology, food security and cooperative development committee chairman Fahmi Zainol here. Until now, national agricultural statistics have focused primarily on palm oil and padi production, which he described as 'not comprehensive.' The new index, he said, would offer more structured and detailed coverage of the broader agricultural sector. Preliminary findings from the 2024 Agriculture Census indicate that the sector recorded sales of RM161bil in 2023, employing 1.7 million people. These figures underscore the industry's potential if backed by strategic policies and innovation. In Penang alone, agricultural sales reached RM3.5bil, despite the state's small size. Individual farmers accounted for 93.1% of agricultural holdings, with organisations making up the remaining 6.9%. The census also highlighted the active role played by senior citizens, with more than half of Malaysians aged 60 and above still engaged in agriculture. Mohd Uzir noted that the presence of older farmers in the field remains strong, while youth involvement presents further opportunities to enhance sector productivity. – Bernama
The Star
13-06-2025
- Business
- The Star
RM3.5bil in assets and funds seized by MACC since 2020
BANGI: Some RM3.5bil in assets and funds were seized by graft busters since 2020, says Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki. He said there had been 34,819 reports from 2020 to April this year. 'From the reports received, 5,145 investigation papers were opened while 5,703 individuals were detained. 'Of those detained, 2,479 have been charged and 1,274 were found guilty by the courts. 'We also seized some RM3.5bil in assets and funds and performed forfeiture of RM27.8bil of assets and properties during the five-year period,' he said during the MACC Law Enforcement Accreditation Programme convocation ceremony yesterday. In his speech, Azam stressed on the importance of the role played by the graduates in anti-corruption enforcement. 'You are not only expected to be corruption-free but you have the responsibility to create more awareness and understanding towards the importance of combating corruption,' he said. Azam said the MACC will not compromise in taking action against any individual, including its own officers, if they are involved in corrupt activities. 'Be the unsung hero who is firm in holding on to your principle. Integrity is priceless and must be preserved,' he said. Later at a press conference, Azam said the length of investigations for high profile graft cases had been shortened by enhancing the skills of officers and adoption of new technology. 'In the past, a high-profile case could take us up to one-and-a-half years to complete the investigation paper but now, we can do so within six months,' he said. 'This is a credit to our approach, which focusses on equipping our officers with skills and the use of latest technology.' Despite MACC having to deal with more than 30,000 reports since 2020, Azam pointed out that increasing the MACC workforce is not an answer to dealing with the situation. 'I don't see how adding a large number of MACC officers is the solution to effectively combat corruption in this country. 'The most important thing is our approach. 'For example, about 10 years ago, we would need to dispatch many officers to conduct surveillance. 'But now, we just use technology to locate suspects and witnesses,' he said. Azam also said the MACC would collaborate with various parties, especially in technical and forensic accounting. 'For example, we worked with the Malaysian Institute of Accountants to assist in asset tracing and forensic accounting. 'We also form international cooperation to assist with our investigations,' he added. Azam said the public could expect announcements soon of several high-profile cases being brought to court, which is proof of how quickly MACC is now able to conclude its investigations.
The Star
12-06-2025
- The Star
MACC forfeited RM27.8bil worth of assets, funds since 2020, says Azam Baki
BANGI: Graft busters received a total of 34,819 reports from 2020 to April 2025, says Tan Sri Azam Baki. The Malaysian Anti-Corruption Commission (MACC) chief commissioner said from the reports received, 5,145 investigation papers were opened while 5,703 individuals were detained. "Of those detained 2,479 have been charged and 1,274 were found guilty by the courts. "We also seized some RM3.5bil in assets and funds and performed forfeiture of RM27.8bil of assets and properties during the five-year period," he said in his speech during the second MACC Law Enforcement Accreditation Programme Convocation ceremony on Thursday (June 12). He said the role of the graduates in anti-corruption enforcement is important. "You are not only expected to be free from corruption but also to raise awareness and understanding about the importance of combating it," he said. Azam said the MACC will not compromise in taking action against any individual, including its own officers if they are involved in corrupt activities. "Be the unsung hero who is firm in holding on to principles. The value of integrity is priceless and must be preserved," he added.
The Star
29-05-2025
- Business
- The Star
SunCon wins RM1.2bil deal
SunCon said the works are expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2025 onwards. PETALING JAYA: Sunway Construction Group Bhd (SunCon) has accepted work orders from a multinational technology company headquartered in the United States in respect of the provision of general contractor works for two data centre projects, worth RM1.16bil. In a filing with Bursa Malaysia, the company said the works are scheduled to commence immediately, with final completion expected by February 2027. 'The works will not have any effect on the share capital and substantial shareholders' shareholding of SunCon as it does not involve any allotment or issuance of new shares by SunCon. 'The works are not expected to have any immediate material effect on the earnings per share, net assets per share and gearing of SunCon for the financial year ending Dec 31, 2025.' However, barring any unforeseen circumstances, SunCon said the works are expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2025 onwards. 'As of today, SunCon group's total outstanding order book stands at RM7.9bil. This includes new projects secured to date this year, totaling RM3.5bil, which encompasses the above mentioned works.'
The Star
29-05-2025
- Business
- The Star
IJM Corp upbeat about construction activity
IJM Corp group chief executive officer and managing director Datuk Lee Chun Fai. PETALING JAYA: IJM Corp Bhd is confident of delivering satisfactory operational performance for the financial year ending March 31, 2026 (FY26). In a statement, group chief executive officer and managing director Datuk Lee Chun Fai said the group's RM7.6bil outstanding order book would be complemented by a further RM3.5bil from its 50% acquisition of JRL Group post the financial year-end, strengthening its construction capabilities and expanding our presence in the United Kingdom. 'Looking ahead, IJM Corp is well-positioned to benefit from national growth priorities such as infrastructure investment, the development of special economic zones in Johor and the rising demand for digital infrastructure.' For the fourth quarter ended March 31, 2025 (4Q25), IJM Corp's net profit dipped to RM128.95mil from RM305.52mil in the previous corresponding period, while revenue rose to RM1.79bil from RM1.76bil a year earlier. For FY25, IJM Corp's net profit dropped to RM403.38mil from RM600.28mil in the previous corresponding period, while revenue grew to RM6.25bil from RM5.92bil previously. IJM Corp said the construction division remained the key revenue contributor, supported by a high level of construction activity, while the industry division continued to benefit from a strong order book and the ongoing rollout of data centres and infrastructure projects. The group's improving outlook is further supported by resilient property sales in FY25, sustained unbilled sales, and steadfast efforts to grow its business, backed by strategic locations of its developments and the strength of its established brand. The property division recorded RM1.5bil in sales for FY25, supported by unbilled sales of RM1.5bil. According to Lee, the group is also positioning its overseas property portfolio as a key engine for growth. 'The redevelopment of 25 Finsbury Circus presents a rare opportunity to transform a historic landmark into a modern, high-performance workspace. 'The building is undergoing a sustainability-led refurbishment that will increase its total footprint by 26%. 'Securing a 20-year lease with an international law firm enhances our recurring income profile and affirms the long-term potential of our UK property strategy,' Lee said. Additionally, IJM Corp said that Kuantan Port recorded lower cargo throughput in FY25, achieving 24.3 million tonnes. 'However, the long-term growth prospects for the port remain strong, underpinned by new foreign direct investments at the Malaysia-China Kuantan Industrial Park (MCKIP). 'The government's continued infrastructure investment in the region, particularly via the East Coast Rail Link, reinforces Kuantan Port's role as a strategic logistics and trade hub for the East Coast,' he said. As the port operator and infrastructure enabler, IJM Corp said it is well-positioned to benefit from the growing industrial activity and cargo throughput driven by MCKIP. Commenting on the group's FY25 performance, Lee said: 'Despite external headwinds, our results underscore the group's operational resilience and progress on key strategic fronts.' 'We remain focused on execution, strengthening fundamentals, and driving long-term growth across all business divisions,' he added.
