Latest news with #RM3.6
The Sun
5 days ago
- Business
- The Sun
Merchantrade Asia aiming for digital payroll disbursements of RM5 billion in 2025
PETALING JAYA: Merchantrade Asia Sdn Bhd's digital payroll solution surpassed RM3.6 billion in salary disbursements to foreign worker e-wallet accounts in 2024, highlighting the company's continued leadership in digitising and transforming payroll processes while advancing financial inclusion for underserved communities. Maintaining this momentum, Merchantrade Asia is aiming to achieve an ambitious payroll volume target of RM5 billion by the end of 2025. Founder and managing director Ramasamy K Veeran said the RM3.6 billion disbursed in 2024 not only demonstrates the impact of the company's solution but also reflects a clear shift among Malaysian employers towards digital wage solutions that enhance productivity, transparency and employee well-being. 'We are focused on building on this growth to reach RM5 billion in 2025 by deepening our partnerships, strengthening our onboarding capabilities, and continuously innovating to meet employer and worker needs,' he said in a statement. The company has positioned itself as a trusted enabler of digital wage disbursement solutions for Malaysian businesses, from large corporations to SMEs across sectors including plantation, manufacturing, construction, and services. More than 40 public-listed companies now rely on the solution for secure, efficient, and transparent salary payments to their migrant workforce. Merchantrade Asia's digital payroll offering was strengthened following its recognition as an approved issuer of a designated payment instrument under the Employment Order 2024 by the Ministry of Human Resources. Designed for convenience and scale, Merchantrade Asia's digital payroll system includes mass onboarding at the employer's premises, an easy-to-use portal, training, and access to 97 branches and 450 agent locations nationwide that act as service centres. With comprehensive support for employers from onboarding to after-sales service, the solution is a more sought-after choice compared to traditional banks, particularly for the foreign worker segment. For foreign workers, salaries are credited directly into the Merchantrade Money e-wallet, enabling access to a suite of digital financial services. This includes international remittances, mobile top-ups, micro-insurance, bill payments, and retail and online payments with the Visa prepaid card. One of the key features of Merchantrade Asia's payroll service is its capability to facilitate Social Security Organisation payments directly into Merchantrade Money accounts. This integration simplifies the claims process for eligible foreign workers and supports employers in managing their social protection obligations.
Focus Malaysia
11-06-2025
- Business
- Focus Malaysia
Merchantrade's digital payroll service surpasses RM3.6b, targets RM5b in 2025
MERCHANTRADE Asia Sdn Bhd, Malaysia's non-bank money services business operator and leading wallet player, has today (June 11) revealed that its digital payroll solution has surpassed RM3.6 bil in salary disbursements to foreign worker e-wallet accounts in 2024. This milestone highlights the company's continued leadership in digitising and transforming payroll processes while advancing financial inclusion for underserved communities. Merchantrade now sets its sights on an ambitious target of RM5 biln in payroll volume by end-2025. To-date, Merchantrade has positioned itself as a trusted enabler of digital wage disbursement solutions for Malaysian businesses – from large corporates to SMEs across sectors including plantation, manufacturing, construction and services. More than 40 public listed companies now rely on the solution for secure, efficient and transparent salary payments to their migrant workforce. Merchantrade's digital payroll offering was further strengthened following its recognition as an approved issuer of a designated payment instrument under the Employment Order 2024 by the Human Resources Ministry (KESUMA). 'The RM3.6 bil disbursed in 2024 not only demonstrates the impact of our solution but also reflects a clear shift among Malaysian employers towards digital wage solutions that enhance productivity, transparency and employee well-being,' commented Merchantrade's founder and managing director Ramasamy K. Veeran. 'We're focused on extending this growth to reach RM5 bil in 2025 by deepening our partnerships, strengthening our onboarding capabilities and continuously innovating to meet employer and worker needs.' In a nutshell, Merchantrade's digital payroll system delivers distinct advantages for both employers and employees. Designed for convenience and scale, Merchantrade's digital payroll system includes mass-onboarding at the employers premise, an easy-to-use portal, training and access to 97 branches and 450 agent locations nationwide that act as service centres. For foreign workers, salaries are credited directly into the Merchantrade Money e-wallet, thus enabling access to a suite of digital financial services. This includes international remittances, mobile top-ups, micro-insurance, bill payments as well as retail and online payments with the Visa prepaid card. One of the key features of Merchantrade's payroll service is its capability to facilitate PERKESO (SOCSO) payments directly into Merchantrade Money accounts. This integration simplifies the claims process for eligible foreign workers and supports employers in managing their social protection obligations. – June 11, 2025
New Straits Times
03-06-2025
- Business
- New Straits Times
Ta Win to sell Selangor land to metal recovery industries for RM44.5mil
KUALA LUMPUR: Ta Win Holdings Bhd's wholly owned subsidiary Ta Win Industries (M) Sdn Bhd has entered into a sale and purchase agreement with Metal Recovery Industries Sdn Bhd to dispose of 1.6187 hectares industrial land located in Selangor for RM44.5 million. The company said in a filing with Bursa Malaysia that the rationale behind the disposal is to focus on core operations as the property is currently vacant and non-operational, making it non-essential to its core business. "It is to monetise this idle asset to unlock cash, which can reduce borrowings and lower interest costs. The cash infusion also improves working capital, positioning Ta Win Group to seize future opportunities and manage market volatility. "The move is resource efficiency – eliminating the ongoing costs of maintaining the unused property supports optimal resource allocation, allowing Ta Win Group to be more responsive to rapidly evolving market demands," it said. The copper wire and rod manufacturer noted that the proposed disposal will result in a net loss of approximately RM3.6 million after deducting estimated incidental costs. It added that in accordance with applicable accounting standards, the revaluation surplus associated with the property will be reclassified from the revaluation reserve to retained earnings within shareholders' equity.
BusinessToday
30-05-2025
- Business
- BusinessToday
Analysts Back Sime Darby Property On Its Solid Pipeline Of Projects
Sime Darby Property Bhd - Ready-built Warehouse (Source Official wesite Nov 2024) Sime Darby Property Bhd (SDPR) maintains strong analyst support with RHB Investment Bank Bhd (RHB Research) and Hong Leong Investment Bank Bhd (HLIB) both reaffirming their BUY calls. RHB Research assigns a target price of RM2.33, implying a 64% upside from the current market price of RM1.42, while HLIB maintains a slightly more conservative target price of RM2.05, projecting a 44.4% capital gain plus a dividend yield of 2.3%, resulting in an expected total return of 46.7%. The positive outlook reflects confidence in Sime Darby Property's resilient sales momentum and strategic development plans. According to RHB Research, Sime Darby Property's first quarter of fiscal 2025 earnings fell short of expectations due to delayed recognition of some industrial property sales. Nevertheless, property sales remained robust at RM928 million, putting the company on track to meet its annual sales target of RM3.6 billion. The quarter saw industrial products contributing half of total sales, with residential high-rise, landed residential, and commercial properties making up the remainder. RHB Research noted the upcoming launch of KLGCC Mall in the second half of 2025 and the timely delivery of two data centres as key growth drivers. The firm also highlighted improved cost efficiency and reduced finance expenses as positive factors, with net gearing slightly rising to 0.28 times. HLIB described the first quarter results as within expectations, with core profit after tax and minority interests (PATAMI) rising 20.1% quarter-on-quarter to RM115.6 million despite a 10.8% revenue decline. This was largely attributed to better profit margins from a favourable product mix and lower compliance costs. Sales for the quarter were steady at RM927.5 million, representing about 26% of the company's full-year sales target. HLIB also pointed to strong unbilled sales of RM3.84 billion, the highest since 2017, signalling healthy revenue visibility. The firm forecasts steady earnings growth, adjusting its FY25 and FY26 projections slightly while introducing a positive outlook for FY27 with core PATAMI expected to reach RM663.2 million. Both research houses highlight the strength of Sime Darby Property's industrial segment, with HLIB emphasising the ongoing construction of Google's hyperscale data centre, scheduled for completion in the second half of 2026. The company's investment property portfolio is expanding, with KLGCC Mall nearing opening and strong occupancy gains in its Metrohub industrial assets. These recurring income streams are expected to boost future earnings as leasing activity remains robust. Looking forward, analysts are optimistic about Sime Darby Property's prospects, citing its diversified product offerings across residential, commercial, and industrial sectors as a key advantage. The anticipated completion of the East Coast Rail Link (ECRL) by end-2026 is expected to benefit the company's industrial landbank near Klang station, improving sales and rental yields. Both RHB and HLIB believe the group's balanced approach, combining development-driven growth with steady expansion of its investment property segment positions Sime Darby Property well for sustainable long-term earnings growth. In conclusion, Sime Darby Property continues to deliver on its strategic goals with solid sales momentum and growing recurring income, backed by positive analyst ratings and substantial upside potential from current share prices. Related
New Straits Times
29-05-2025
- Business
- New Straits Times
Sime Darby property optimistic on 2025 outlook, backed by RM3.8bil unbilled sales
KUALA LUMPUR: Sime Darby Property Bhd remains optimistic about its outlook for 2025, underpinned by record-high unbilled sales of RM3.84 billion in 2024, despite concerns over ongoing global tariff uncertainties. Group managing director Datuk Azmir Merican said the group's focus on execution and portfolio diversification has enabled it to navigate external headwinds effectively. "A key concern for this year and 2026 is whether future launches and bank lending will be affected," he said during a virtual press conference today. In the first quarter ended 31 March 2025 (Q1FY25), Sime Darby Property recorded RM927.5 million in sales, representing 26 per cent of its full-year target of RM3.6 billion. Of this, industrial products contributed 50 per cent, followed by residential high-rise units at 27 per cent, landed homes at 16 per cent, and commercial properties at seven per cent. Azmir said the group plans to launch RM3.3 billion in gross development value across 3,044 units for the remainder of 2025. This will include industrial projects worth RM1.21 billion, residential landed homes at RM1.12 billion, residential high-rise units at RM1.07 billion, and commercial properties at RM546 million. Internationally, the group's flagship Battersea Power Station development in the United Kingdom continues to gain traction. Footfall increased eight per cent year-on-year in Q1FY25, bringing total visitors since its 2022 opening to over 30 million. The Phase 3B (Electric Boulevard) residential component recorded a take-up rate of 74 per cent, up six per cent quarter-on-quarter, while commercial leasing remains steady at 45 per cent, with efforts ongoing to secure more long-term tenants. In May 2025, the property developer secured planning approval for Phase 3C, which will comprise 306 new homes including 121 senior living units with anticipated completion by 2029. Azmir highlighted the group is scheduled to open the upcoming KLGCC Mall within the prestigious Kuala Lumpur Golf & Country Club (KLGCC) precinct in the second half of the year. The new retail asset is expected to strengthen Sime Darby Property's recurring income strategy, joining its existing investment properties such as KL East Mall and Elmina Lakeside Mall. He added the group's SHIFT25 transformation agenda, aimed at becoming a fully integrated real estate player by the end of 2025, is progressing steadily. These goals will be further supported by the group's growing industrial portfolio, particularly in data centre leasing, logistics parks, and warehouse operations, alongside improving performance across its retail segment.
