Latest news with #RM5.9
New Straits Times
3 days ago
- Business
- New Straits Times
Govt urges closer industry ties with MPOB to boost palm oil R&D
Previous Next BANGI: The government is inviting industry players to collaborate closely with the Malaysian Palm Oil Board (MPOB) to advance research and development (R&D) in strategic areas of the palm oil industry. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said enhanced collaboration with MPOB would lead to the commercialisation of more innovations, benefiting both entrepreneurs and the agency. "When entrepreneurs are confident in their R&D, about 70 per cent of it can be commercialised," he told reporters at the MPOB Palm Oil Technology Transfer Programme (TOT) 2025, here today. "When that happens, they benefit, and so does MPOB, which can earn royalties for endorsing these innovations," he added. In his speech, Johari said one of MPOB's initiatives is to collaborate with Kuala Lumpur Kepong Bhd's subsidiary KL-Kepong Industrial Holdings Sdn Bhd, SALCRA in Sarawak and the Johor State Agriculture Corp to commercialise animal feed technology. He said this initiative has the potential to significantly reduce import dependency and ensure the resilience of the local supply chain. Johari added that MPOB will explore research into developing eco-friendly palm-based products to replace conventional, non-sustainable alternatives. He said palm-based transformer insulating oil is currently being considered by Tenaga Nasional Bhd as a replacement for petroleum-based transformer oil in the country's power substation network. "Palm-based transformer oil has market potential estimated to reach a value of US$287 million by 2030," he said. To date, the commercialisation of MPOB technologies has generated more than RM5.9 billion in market value, contributing to operational efficiency and product value enhancement across the palm oil sector. "I am confident that the MPOB TOT Programme will benefit industry players and all attendees by providing an opportunity to interact with technology inventors and research officers.
Hype Malaysia
10-06-2025
- Entertainment
- Hype Malaysia
POP MART Founder Wang Ning Now Richest Person In China's Henan Province
The POP MART craze is taking the world by storm! The popularity of these collectable dolls has gone through the roof. The results? Catapulting the wealth of the founder, Wang Ning (王宁). According to reports, the founder and CEO of Pop Mart International Group recently saw an increase in his net worth. As reported on the Forbes website, Wang Ning's net worth recently jumped by US$1.4 billion (approximately RM5.9 billion), and he's now worth US$ 21.7 billion (approximately RM88 billion). With this new net worth, the 38-year-old is now the wealthiest man in Henan, China. Forbes attributes Wang Ning's wealth to the success of his toy company, founded in 2010. The brand, known for its figurine blind boxes, became a publicly listed company in Hong Kong in 2020. POP MART boasts a variety of products from different series, including Dimoo, Skullpanda and Molly. However, its most popular character is Labubu, which debuted under the company in 2019. The Labubu character is the brainchild of Hong Kong artist Kasing Lung (龍家昇), who designed the character in 2015. The artist's partnership with POP MART in 2019 helped popularise the character and the accompanying 'Monsters' line. However, Labubus only became a sought-after collectable after BLACKPINK's Lisa was spotted with a Labubu keychain on her bag, sparking a trend in Southeast and East Asia. POP MART currently operates over 500 stores worldwide, with 100 overseas outlets. In Malaysia, there are seven POP MART outlets, including the largest store in The Exchange TRX. Surprisingly, Wang Ning revealed that the company's overseas business sales could exceed 50% by the end of 2025, surpassing its domestic Chinese sales. This revelation hints at POP MART's growing global popularity. With new collaborations and launches happening every month, it won't be long before Wang Ning's net worth increases again. What are your thoughts on this? Sources: Oriental Daily, Forbes What's your Reaction? +1 0 +1 0 +1 0 +1 0 +1 0 +1 0
BusinessToday
22-05-2025
- Business
- BusinessToday
KLK 2Q Profit Falls To RM154 Million, Hit By Overseas Associate Losses, FX Impact
Kuala Lumpur Kepong Bhd Kuala Lumpur Kepong Berhad (KLK) posted a lower net profit of RM154 million for its second quarter ended March 31, 2025 (2QFY25), down from RM220 million in the preceding quarter, despite a rise in group revenue to RM6.3 billion, compared to RM5.9 billion in 1QFY25. On a year-on-year basis, KLK's 2Q pre-tax profit rose 15% to RM269.9 million from RM234.7 million in 2QFY24, supported by a 16.2% increase in revenue to RM6.34 billion. Segmental Performance Manufacturing The group's manufacturing segment narrowed its loss to RM38.3 million, compared to RM53.4 million in 1QFY25. The improvement was largely driven by: Higher revenue of RM5.42 billion (1QFY25: RM4.76 billion), Stronger profit contribution from the Oleochemical division, and A smaller loss from its non-oleochemical operations. However, the segment continued to be weighed down by losses in its refinery and kernel crushing operations. Property Development The property segment saw its profit slump 53.4% to RM3.5 million, from RM7.5 million in 1QFY25, on lower revenue of RM39.7 million (1QFY25: RM44.1 million), reflecting a slower property market. Investment Holding/Others This segment posted a larger loss of RM94.8 million, widening from RM58.1 million in the previous quarter. The decline came despite a stronger farming profit of RM34.6 million (1QFY25: RM186,000), as the group absorbed a RM63.3 million equity loss from its UK-listed associate Synthomer plc, which continues to face performance headwinds. Net corporate expenses increased to RM54.8 million (1QFY25: RM50.6 million), mainly due to a larger foreign exchange loss of RM40 million from the translation of intercompany loans denominated in foreign currencies. This was partly offset by a RM3.9 million gain from land sales and government acquisitions. Despite challenges in its manufacturing and investment holding arms, KLK remains supported by steady revenue growth and contributions from its oleochemical business. However, the group's near-term profitability may remain volatile due to external pressures, particularly from its overseas associate performance and currency fluctuations Related
New Straits Times
02-05-2025
- Business
- New Straits Times
Ministry passes key data to Malaysia's chief negotiator for tariff talks with US
KUALA LUMPUR: The Plantation and Commodities Ministry has presented key trade data to Malaysia's chief negotiator for the upcoming formal tariff negotiations with the US. Its minister Datuk Seri Johari Abdul Ghani said the data highlights the strength and value of Malaysia's commodity exports to the US in supporting the country's trade position. "The US is not our biggest buyer as Europe, India and China account for over 40 per cent of our palm oil exports. "However, with total global agri-commodity exports standing at RM186 billion, the US is still an important part of the equation," Johari told a press conference at the Malaysia Palm Oil Industry's (MPOB) silver jubilee gala night held in conjunction with its 25th anniversary. The event celebrated the contributions of various stakeholders and MPOB's strategic partners who have collaborated and shared their expertise in advancing the nation's palm oil industry. MPOB also recognised the media and individuals who have made significant contributions to the development of the palm oil sector. Meanwhile, in his speech, Johari said in 2024, Malaysia produced 19.3 million tonnes of crude palm oil. The country generated RM114.4 billion in export revenue, with palm oil remaining the country's third-largest export contributor. "To ensure the palm oil industry continues to contribute to the national economy, a holistic approach is crucial. "Our efforts will focus on increasing yields through the use of high-quality planting materials, replanting at the recommended rates, adopting the latest milling and processing technologies, and ensuring the quality of sustainable palm oil products," he said. Johari credited MPOB for driving technological innovation, having commercialised more than 200 high-impact technologies, adding over RM5.9 billion in market value. "May MPOB remain dynamic in strengthening world-class research, expanding international strategic collaborations, and ensuring that the industry's benefits reach all stakeholders, especially smallholders, who are the backbone of the nation's palm oil sector," he said.
