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BusinessToday
a day ago
- Business
- BusinessToday
Hartanah Kenyalang Posts RM1.3 Million In Net Profit On Construction Gains
Hartanah Kenyalang Bhd reported a net profit of RM1.3 million for the second quarter ended April 30, 2025, on the back of RM30.1 million in total revenue, primarily driven by its building construction services segment. The segment contributed RM21.6 million, or 72% of total revenue, with major contributions from ongoing and completed projects such as the State Archive Project, Yayasan International Schools in Sibu and Kuching, and the Sekolah Daif projects in Tambay and Tebedu. While this marks the company's first interim financial report following its ACE Market listing, the group's revenue was 32.8% lower compared to the preceding quarter's RM44.8 million, largely due to the near-completion or handover of several key projects. For the six-month period, Hartanah Kenyalang posted RM74.9 million in revenue and RM3.2 million in net profit. Looking ahead, the group remains optimistic, citing positive momentum in Sarawak's construction industry as a key driver for future growth. Related
New Straits Times
2 days ago
- Business
- New Straits Times
Johor eyes RCEP firms with Asean Industrial Park plan as investments hit RM30.1bil
ISKANDAR PUTERI: Johor is planning to establish an Asean Industrial Park within the Johor-Singapore Special Economic Zone (JS-SEZ), targeting companies from Regional Comprehensive Economic Partnership (RCEP) countries, Menteri Besar Datuk Onn Hafiz Ghazi announced today. He said the initiative aims to position Johor as a strategic gateway for RCEP investors seeking high-impact growth in Southeast Asia. The proposal was unveiled at the Nikkei Forum Medini Johor 2025, where Onn Hafiz also revealed Johor recorded RM30.1 billion in approved investments in the first quarter of this year alone, outpacing its total nine-month performance in 2024. "This is not just about Johor being football champions. Johor is now an investment champion," he said. "RM30.1 billion in Q1, up from RM4.1 billion a year ago, shows deep investor trust and reflects the strength of our fundamentals." Onn Hafiz credited federal support, close cooperation with Singapore and a no-nonsense facilitation approach as key factors behind the surge. Through the Invest Malaysia Facilitation Centre–Johor (IMFC-J) and the Johor Super Lane (JSL), the state has implemented fast-track approvals for strategic investments, cutting processing time from three months to as little as one day. "In five months, IMFC-J processed 439 enquiries, facilitated 57 potential investments worth RM26.18 billion, and secured RM16.71 billion in committed deals. This is real efficiency. This is Johor redefining facilitation," he said. He also said that mobility and talent development were critical to maintaining momentum. Reiterated that connectivity remains a critical pillar, he said Johor is powering ahead with major projects including the Johor Baru–Singapore Rapid Transit System (RTS) Link, which is on track for completion by end-2026. Other projects are the Gemas–Johor Baru Electric Train Service (ETS) double-tracking, operational by year-end,the Elevated Autonomous Rapid Transit (E-ART), and the North-South Expressway expansion and Senai–Desaru Expressway. To ensure human capital keeps pace, the Johor Talent Development Council (JTDC) is working to deliver 10,000 job-ready graduates by 2026 in key JS-SEZ sectors, including smart manufacturing, semiconductors, digital infrastructure, and renewable energy. Onn Hafiz said the workforce planning is embedded from the outset of every investor engagement, supported by six public universities and 15 Technical and Vocational Education and Training (TVET) centres. Addressing Japanese investors directly, Onn Hafiz said Japan has long played a starring role in Malaysia's economic development, and called on Japanese and RCEP partners to co-develop the proposed Asean Industrial Park in Johor. He thanked Prime Minister Datuk Seri Anwar Ibrahim for his support in elevating Johor's regional profile and championing the JS-SEZ initiative. He also acknowledged Iskandar Investment Berhad (IIB) and Nikkei Inc. for choosing Johor to host the prestigious global forum. "Johor is making history - and the world is watching," he said. Themed Driving Asia's Innovation Hub, the two-day Nikkei Forum Medini Johor 2025 gathered more than 800 delegates in person and online, further cementing Johor's emergence as a rising force in the regional economic landscape.
New Straits Times
11-06-2025
- Business
- New Straits Times
Johor tops Q1 investment charts with RM30.1b in approved investments
JOHOR BARU: Johor recorded the highest investment performance in Malaysia for the first quarter of this year, securing RM30.1 billion in approved investments, reinforcing its position as the nation's leading investment destination. The strong showing reflected Johor's economic journey, bolstered by strategic federal and state policies aimed at high-value, future-proof sectors. State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said most of the investment inflow was channelled into high-impact service sectors, such as logistics, data centres and modern business facilities, which aligned with Johor's ambition to become a leading digital and advanced industrial hub. He attributed the success to several ongoing strategic efforts, including the establishment of the Invest Malaysia Facilitation Centre, which has streamlined investor engagement and approvals. Close coordination with key agencies such as the Malaysian Investment Development Authority, Iskandar Regional Development Authority and local authorities has played a critical role in accelerating investment flows, he said today. The Johor-Singapore Special Economic Zone, which continues to attract strong international interest, was singled out as a growth catalyst. Enhanced infrastructure, such as upgraded road networks, ports and reliable energy supply, has further strengthened Johor's investment appeal. "Johor's consistent policy direction and business facilitation efforts are paying off, with greater investor confidence translating into real capital commitments and job creation. "Stable and pro-industry policy frameworks, including the Johor Fast Lane initiative and skilled workforce development through the Johor Talent Development Council, are also major factors," Lee said. The state pledged to maintain its momentum by strengthening its investment ecosystem, ensuring balanced regional development and unlocking inclusive growth opportunities for Johoreans.
Barnama
14-05-2025
- Business
- Barnama
ACE Market-bound Signature Alliance Aims To Raise RM161.2 Mln From IPO
BUSINESS KUALA LUMPUR, May 14 (Bernama) -- Interior fitting-out specialist Signature Alliance Group Bhd (SAG) aims to raise RM161.2 million through its initial public offering (IPO), ahead of its scheduled listing on the ACE Market of Bursa Malaysia Securities Bhd on June 5, 2025. The IPO involves the issuance of 260 million new shares at an issue price of 62 sen per share. Of the total proceeds, SAG said RM88 million (54.6 per cent) will be used to establish a new corporate office and production facility in Selangor to increase automation and enhance project delivery, while RM30.1 million (18.7 per cent) will be allocated for working capital to support its interior fitting-out projects. The remainder of the funds will go towards repaying bank borrowings (RM20 million), establishing branch offices in Penang and Johor (RM12 million), acquiring machinery and equipment (RM4 million), and covering listing expenses (RM7.1 million). Executive director and group chief executive officer Darren Chang said the expansion is necessary, as the company's existing factories in Bandar Baru Bangi and Puchong are no longer sufficient to support its growing operations. 'One of our key goals is to centralise our office operations, as we currently do not have enough space. "The funds raised will allow us to bring everyone together under one roof, expand our production facilities, and invest in new machinery to increase our production capacity,' he said at a press conference held in conjunction with the company's prospectus launch. Chang added that despite the underperformance of several recent ACE Market debutants due to challenging market conditions, the company is confident in its ability to deliver strong results. In a separate statement, the company said that for the financial years ended Dec 31, 2021, to Dec 31, 2024, and up to April 16, 2025, SAG had completed 624 interior fitting-out projects, with a total value of RM391.6 million.
BusinessToday
14-05-2025
- Business
- BusinessToday
Signature Alliance Aims To Raise RM161.2 Million From ACE Market Listing
Signature Alliance Group Berhad expects to raise RM161.2 million under its listing exercise on the ACE Market of Bursa Malaysia Securities Berhad. In a statement released today, the company, which is mainly involved in interior furniture said it plans to use RM88.0 million or 54.6% of the proceeds raised from the initial public offering to establish a new corporate office and production facility in Selangor to increase automation and further strengthen its project delivery capabilities. A further RM30.1 million (18.7%) of the proceeds will be used for working capital purposes to meet the working capital requirements for its interior fitting-out projects. The remainder of the proceeds it added will be used to repay bank borrowings amounting to RM20.0 million (12.4%); RM12.0 million (7.4%) to expand and establish branch offices in Pulau Pinang and Johor to strengthen the company presence regionally in Peninsular Malaysia; RM4.0 million (2.5%) to acquire additional machinery and equipment for the production facility while the remaining RM7.1 million (4.4%) to defray the estimated listing expenses. For the past 4 financial years ended ('FY') 31 December 2021 to 31 December 2024 and up to 16 April 2025, SAG has completed 624 interior fitting-out projects, with a combined value of RM391.6 million. As at 16 April 2025, the Company has 69 ongoing projects with total contract value of RM902.4 million and unbilled contract value of RM388.6 million or 43.1% of the total value. For the financial year ended 31 December 2024 ('FY2024'), SAG's net profit jumped 290.4% to RM40.6 million from RM10.4 million a year ago ('FY2023') on higher gross profit ('GP') and net gain on impairment of financial assets and contract assets. FY2024's revenue rose 122.6% to RM386.0 million from RM173.4 million in FY2023. During the period under review, the Company's GP expanded to RM81.7 million, translating to a GP margin of 21.2%, versus 16.9% in FY2023 due to a mix of contributions from interior fitting-out projects with higher GP margins. Net profit margin for FY2024 also improved to 10.5% from 6.0% a year ago. Under the listing exercise, SAG is issuing 260.0 million new shares representing 26.0% of its enlarged share capital. There is no sale of existing shares. At an IPO price of RM0.62 per share, SAG's market capitalisation is projected to be RM620 million, based on its enlarged share capital of 1.0 billion shares. SAG's listing on the ACE Market of Bursa Securities is tentatively scheduled on 5 June 2025. M&A Securities Sdn Bhd is the Adviser, Sponsor, Managing Underwriter, Joint Underwriter and Joint Placement Agent while Affin Hwang Investment Bank Berhad is the Joint Underwriter and Joint Placement Agent for the IPO exercise. Related
