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Daily Express
05-06-2025
- Business
- Daily Express
Joining GRS was a clear choice: Joniston
Published on: Thursday, June 05, 2025 Published on: Thu, Jun 05, 2025 Text Size: Joniston emphasised that some critics bring up PBS's past to score political points but forget that many ideas PBS supported before are now accepted by others. - FMT pic Kota Kinabalu: Gabungan Rakyat Sabah (GRS) cum Parti Bersatu Sabah (PBS) Information Chief Datuk Joniston Bangkuai said PBS has always fought for Sabah's autonomy. He said Umno Information Chief cum Libaran MP Datuk Suhaimi Nasir's statement 'does not need a long reply', and stressed that PBS believes Sabah should be led by parties based in the State, making decisions that fit Sabah's needs. 'PBS has always stood for Sabah to be governed by its own people, with leaders who protect our rights and respect our identity,' he said. He admitted PBS's history is not perfect but said the party has always fought for fair treatment in Malaysia and a strong voice for the State. Joniston emphasised that some critics bring up PBS's past to score political points but forget that many ideas PBS supported before are now accepted by others. 'We were once criticised for asking for stronger local leadership and Sabah's rights. Now, those ideas are supported by former opponents,' he said. He said PBS left Barisan Nasional (BN) after careful thought, asking if it was best for Sabah. Joining GRS was a clear choice to work with local parties focused on Sabah's growth. Answering Suhaimi's insult calling him 'immature,' Joniston said PBS's strength comes from how it serves Sabah, defends its rights and builds a better future, not from old alliances. Looking ahead, Joniston is hopeful about Sabah's progress with GRS leading the State and working with the Federal Government under Prime Minister Datuk Seri Anwar Ibrahim. He highlighted key wins like the federal special annual grant rising from RM50 million to RM600 million, and efforts to get back 40 per cent of Sabah's revenue from the Federal Government. Another important step is the deal between Sabah and Petronas, which lets local companies take part in the State's oil and gas industry, helping Sabah's revenue reach RM6.9 billion last year. 'With GRS leading and good teamwork with the Federal Government, Sabah is moving forward towards a brighter future,' Joniston said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
29-05-2025
- Business
- New Straits Times
Magma's losses widen, revenue falls in Q1
KUALA LUMPUR: Magma Group Bhd's net loss widened in the first quarter (Q1) ended March 31, 2025 due to higher corporate-related and capital restructuring expenses. The company recorded a net loss of RM6.9 million for the quarter, compared to RM4.27 million in the same period last year, as revenue declined 8.5 per cent to RM6.3 million from RM6.9 million, according to a bourse filing. Its revenue from the hotel operation segment amounted to RM5.73 million, lower than RM6.29 million a year earlier. Meanwhile, the hotel management segment posted revenue of RM609,000, down from RM636,000 previously. In a statement, Magma said it has completed the acquisition of a 0.9-hectare plot in Mont Kiara valued at RM80 million and balance sheet restructuring. The land is slated for future commercial development and positions Magma for long-term growth in the urban property segment. The company also entered into a joint venture with Chagee (M) Sdn Bhd that will spearhead the expansion of Chagee's retail presence nationwide while introducing curated tea experiences that align with evolving consumer trends. Magma group managing director cum group chief executive officer Datuk Seri Thomas Liang Chee Fong said while Q1 results reflect transitional headwinds, the completion of land acquisition and strategic partnership with Chagee mark a meaningful shift in corporate narrative. "We are repositioning Magma as a forward-looking hospitality and lifestyle group, leveraging our core strengths to unlock new revenue streams, strengthen brand equity and align with the evolving Malaysian consumer. "With a stronger foundation now in place, we see compelling opportunities to scale recurring income across hospitality, food and beverage and property in a sustainable and value-accretive manner," he added.
New Straits Times
28-05-2025
- Business
- New Straits Times
Media Prima posts results that reflect adverse market conditions, ongoing industry evolution
KUALA LUMPUR: Media Prima Bhd, the country's largest integrated media group, posted RM211.6 million revenue and RM1.0 milion net profit in the third quarter ended March 31 2025 (Q3 FY25). The results were supported by an 11 per cent year-over-year growth in non-advertising revenue, which enabled the group to balance the impact of adverse market conditions on advertising revenue. Culmulatively, Media Prima's revenue in the first nine months stood at RM634.5 million, with a net profit of RM6.9 million. The performance was achieved amid challenging market conditions and ongoing industry evolution throughout the period, the company said. The results also reflect the group's efforts in managing its diverse portfolio which include broadcasting, publishing, digital media, out-of-home, home shopping and Omnia, an integrated media solutions and creative services provider. Media platforms that recorded encouraging performance include home shopping and audio under the broadcasting segment. Group chairman Datuk Seri Dr Syed Hussian Aljunid said the results reflect the ongoing dynamic nature of the media industry and broader economic conditions. He said the group remains steadfast in executing its three-year strategic roadmap, which emphasises enhancing content quality, premiumising inventory and diligently identifying new revenue opportunities. "These initiatives are crucial for building resilience and establishing a solid foundation for sustainable growth. "Our commitment to improving operational effectiveness across all segments is unwavering as we navigate current market challenges," he said. Group managing director Rafiq Razali said Media Prima is navigating a complex market which includes significant shifts in advertising and consumer behaviour. He said the home shopping segment's quarterly performance is encouraging. "While certain segments faced headwinds, particularly in advertising revenue, our focus remains on prudent cost management and the strategic execution of our business plan. "We are continuously working to enhance our operational effectiveness while relying on data insights to understand audience preference and market trends to deliver value," he said. Rafiq added that Media Prima will maintain a prudent perspective for the rest of the financial year, anticipating continued pressure on advertising expenditure due to economic uncertainties and the evolving media landscape.
Daily Express
21-05-2025
- Politics
- Daily Express
Joniston warns of free-for-all in Sabah polls
Published on: Wednesday, May 21, 2025 Published on: Wed, May 21, 2025 Text Size: KIULU: The state election may see a free-for-all due to unresolved seat negotiations among parties eyeing alliances, said Gabungan Rakyat Sabah (GRS) information chief Datuk Joniston Bangkuai. He said GRS is ready to go solo as previously indicated by the Chief Minister and GRS chairman Datuk Seri Hajiji Noor, following a pact between Barisan Nasional (BN) and Pakatan Harapan (PH) which sidelined GRS. Joniston said such a scenario could benefit voters, turning the election into a referendum between local coalitions and those aligned with peninsula-based parties. He cited GRS's ability to secure federal cooperation, increase the special grant to RM600 million, and raise Sabah's revenue to RM6.9 billion as proof of effective local governance. Reminding voters of the failed attempt to topple the State Government in January 2023, he called for political stability and leadership rooted in Sabah's interests. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
