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New Straits Times
6 days ago
- Entertainment
- New Straits Times
#SHOWBIZ: Kim Soo-hyun's luxury apartment seized over unpaid advertiser's penalty fee
SEOUL: One of South Korean actor Kim Soo-hyun's luxury apartments worth three billion won (RM9.2 million) has been seized. According to AsiaOne, the medical aesthetic device brand Classys, which previously signed Soo-hyun as their brand model, filed for the provisional seizure over an unpaid penalty fee due to a breach of contract, which the Seoul Eastern District Court approved recently. The company had ended their contract with the 37-year-old after his explosive scandal where he was accused of dating the late actress Kim Sae-ron when she was underaged. She died from suicide in February this year. Soo-hyun has denied the allegations, claiming they started seeing each other when she was 19 years old. He owns three Galleria Foret apartments, which he bought in 2013 and 2014. His lawyers reportedly confirmed one of his units had been seized. His drama Knock-Off - which was supposed to premiere in the first half of 2025 - has also been postponed indefinitely.
New Straits Times
28-05-2025
- Business
- New Straits Times
Kawan Food posts lower Q1 profit on export slowdown, eyes domestic-led recovery
KUALA LUMPUR: Kawan Food Bhd's latest quarterly results reflect the impact of global market volatility and ongoing geopolitical tensions, according to its chairman emeritus and acting group managing director, Gan Thiam Chai. For the first quarter ended March 31, 2025 (Q1 FY25), the group posted a net profit of RM4.7 million — down 48.5 per cent from RM9.2 million in the same quarter last year — due to lower export volumes and unrealised foreign exchange losses. Revenue also fell 12.6 per cent year-on-year to RM70.5 million from RM80.6 million, dragged by softer sales in key export markets including North America and China. Despite the challenges, Gan said domestic sales remained resilient, with stable contributions from Europe and Oceania. "Our business fundamentals remain intact, and we are focused on adapting to market conditions and ensuring operational stability," he added. Looking ahead, Kawan Food expects growth to be supported by sustained domestic demand for its frozen convenience foods, while it continues expanding internationally through innovation, targeted marketing, and improved distribution. To strengthen operations, the group has allocated RM3.3 million in capital expenditure for property, plant, and equipment, aimed at boosting supply chain resilience and manufacturing capacity. Shares of Kawan Food have been on a downward trend for nearly two years, falling from RM2.30 in January 2023 to RM1.29 on Wednesday, giving it a market capitalisation of RM469.61 million.
