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New Straits Times
23-05-2025
- Business
- New Straits Times
Kossan's Q1 core profit exceeds estimates, analyst raises FY25 outlook
KUALA LUMPUR: Hong Leong Investment Bank Bhd (HLIB Research) has raised Kossan Rubber Industries Bhd's earnings forecasts following upbeat results in the first quarter of financial year 2025 (Q1FY25). The firm said the glovemaker's core profit after tax and minority interest (PATMI) of RM31.9 million, up 29.1 per cent year-on-year, exceeded its own full-year forecast by 26 per cent but within consensus' projection of 20 per cent. The stronger earnings were driven by higher revenue and profit before tax margin from the glove and clean-room segment. Therefore, HLIB Research raised its financial year 2025 (FY25) profit by 23 per cent to mainly account for higher average sales price (ASP) and profit before tax margin assumptions for the glove and clean-room segment. "However, we conservatively maintain our FY26 forecast, which we deem reasonable under the current outlook. Besides, we introduce a FY27 core PATMI of RM264.8 million, representing a 13 per cent year-on-year increase," it said in a note. Despite stronger earnings in Q1, HLIB Research expects Kossan to deliver relatively flat earnings in the second quarter (Q2), followed by a stronger performance in the second half of the financial year 2025 (2HFY24). The firm pointed out that the glove and clean-room segment is expected to post flattish quarterly sales volume as US customers are still sitting on excessive inventories built up from 4QFY2, noting that a more meaningful restocking cycle is only anticipated in 2HFY25. On pricing, it expects Kossan to lower the ASP around US$0.5-1.0 each 1000 pieces in Q2, primarily reflecting the pass-through of lower nitrile butadiene rubber prices in Q1 amid intense competition. "Despite the ringgit's recent strength against the US dollar since late April, increasing by three point 3.0 per cent, we expect this segment to deliver relatively flat quarter-on-quarter earnings, primarily supported by a further moderation in raw material costs in Q2. "For the total rubber product segment, a flattish sequential performance is anticipated. Overall, the group's earnings are expected to remain steady in Q2, with a gradual recovery expected in the following quarters," the firm added.
Borneo Post
14-05-2025
- Business
- Borneo Post
Digital Ministry aims to boost Malaysia's creative industry into regional powerhouse
Ugak (centre) receives a memento from Sudarnoto while Snowdan (second left) and others look on. — Photo by Roystein Emmor KUCHING (May 14): The Digital Ministry is committed to accelerating the growth of Malaysia's creative content industry, said its Deputy Minister Datuk Wilson Ugak Kumbong. He said the ministry aims to empower local creators, strengthen the digital ecosystem, and position Malaysia as a regional powerhouse in digital content. 'Through strategic initiatives such as the Creative Content Fund grants, we are supporting the development and production of high-quality, market-ready content. 'The Digital Ministry, through the Malaysian Digital Economy Corporation (MDEC), is also investing in structured programmes that offer training, mentorship, and industry matching, ensuring our local talents are equipped with the skills and guidance they need to succeed,' he said when officiating at the opening of 'Kre8tif! East 2025' at Makeramai Makerspace here today. Ugak said that the ministry is also committed to expanding market access, providing platforms for local content creators to reach regional and international audiences. He said these efforts are in line with Malaysia's ambition to become a digital content hub, with the creative sector projected to contribute over RM31.9 billion to the national Gross Domestic Product (GDP) by 2025. Meanwhile, Ugak noted that the ministry had, in 2024, conducted the 'Jelajah Malaysia Digital' (JMD) programme across Sarawak to uplift digital skills among underserved communities, including the B40 group, youth, small business owners, senior citizens, persons with disabilities and others. 'This Friday, the Jelajah Malaysia Digital programme will take place in Sarawak, with Digital Minister Gobind Singh Deo expected to attend. JMD plays a critical role in further showcasing the rapid growth and strength of Sarawak's digital economy,' he said. Ugak also announced that MDEC will host the Asean Digital Content Summit 2025 this September at the Persada Johor International Convention Centre, alongside the Kre8tif Business Xchange. 'This summit will gather government agencies, industry leaders, academia and the public to foster deeper collaboration and accelerate the development of Asean's digital creative industry. 'This initiative positions Malaysia, and especially our talents from Borneo, at the heart of regional growth,' he said. According to a statement, the two-day Kre8tif! East 2025 event features global industry leaders and experts, offering Sarawak's creative community valuable insights, idea-sharing, and collaboration opportunities. The programme, organised by MDEC and Sarawak Digital Economy Corporation (SDEC), includes panel discussions, exhibitions, and strategic networking sessions aimed at fostering growth in the digital creative space. Among the event's key speakers were representatives from Les' Copaque Production, Streamline Studios, Warner Bros. Discovery, Toon2Tango, Polygon Pictures, Ventura Interactive, Scenic, and Algoin Tech. A major highlight was the announcement of a new partnership between Les' Copaque Production and Streamline Studios to develop the Upin & Ipin Universe – an ambitious transmedia project encompassing games, animation, and immersive digital experiences. The initiative marks a bold step toward globalising one of Malaysia's most beloved intellectual properties. A memorandum of understanding was also signed between MDEC and MYTV Broadcasting Malaysia, establishing a national platform to showcase local animation content to wider audiences. Also present were Sarawak Deputy Minister of Creative Industry and Performing Arts, Datuk Snowdan Lawan and SDEC chief executive officer Dato Sudarnoto Osman.
