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on the way 60c
limit up ...
today rally again
powerful up yesterday
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MyEG Services Bhd said net profit rose 6.74% to RM75.51 million in the fourth quarter ended Dec 31, 2021 from RM70.74 in the preceding quarter, boosted by revenue from Covid-19 health screenings, and online motorcycle insurance and road tax renewal service. Quarterly revenue increased 10.13% to RM149.89 million from RM136.10 million previously, as the group witnessed increased revenue contribution from its screening and accommodation arrangement service for inbound travellers.
The integrated engineering support services provider said its quarterly revenue leapt 41.6% to RM77.81 million from RM54.94 million, underpinned by the group's larger involvement in the life science and medical technology industry.
UWC Bhd's net profit more than doubled to RM27.24 million in the second quarter ended Jan 31, 2021 (2QFY21), compared with RM13.31 million in the previous year's corresponding quarter due to a higher revenue recorded amid strong global demand in the semiconductor industry.
2021-01-21 15:18 | Report Abuse
ATA IMS suspends all factory ops for a week on account of high Covid-19 cases in Johor Bahru
(Jan 5): Electronics manufacturing service (EMS) company ATA IMS Bhd, which is headquartered in Johor Bahru, has temporarily shut down the operations of all its factories there on account of the high daily number of Covid-19 infections there.
As a number of our staff and workers have also been tested positive for Covid-19, the management has made this decision for voluntary temporary shutdown for the benefit of our employees and the community, as our top priority is the health and safety of our employees and to stem the spread of Covid-19 infections.
During this shutdown period, the company is working closely with the Johor state Ministry of Health (KKM) to conduct PCR testing for all workers, and for cleaning and sanitisation of our premises, according to KKM’s guidelines and stringent SOP. All employees have been strongly encouraged to stay home and observe the health preventive measures at all times,
2021-01-13 00:10 | Report Abuse
Condom manufacturer Karex says 35 employees tested positive for Covid-19
(Dec 21): Karex Bhd said 35 of its employees have tested positive for Covid-19, out of 2,000 that had been screened for the virus.
In a filing with Bursa Malaysia today, the condom manufacturer said 28 cases were discovered from screening conducted at its catheter facility located in Pontian, Johor on Dec 16.
The remaining seven, it said, were isolated cases found in its two other condom factories.
Karex wishes to inform that commencing Nov 23, 2020, we have decided to voluntarily conduct Covid-19 screening for our employees, both local and foreign, across all of our facilities in Malaysia.We wish to inform that, to date, we have completed routine screening of over 2,000 of our employees and have discovered a total of 35 positive cases. We will continue to conduct screening across all of our facilities and provide updates on the matter," said the group.
Karex said the affected catheter facility is closed temporarily for disinfection and sanitisation processes and is expected to resume operations in stages beginning Dec 25.
We immediately notified the Ministry of Health (MoH) and have worked with them to identify close contacts of our affected employees as well as to ensure that our affected employees were provided proper medical care and placed in quarantine for subsequent screening.
Karex will continue to adhere to the standard operating procedures as directed by the National Security Council and the MoH in order to ensure the necessary safeguards are in place to prevent the spread of Covid-19 and to ensure that our employees are provided a safe and healthy working environment," it added.
Karex's share price closed 1.5 sen or 1.82% lower at 81 sen, bringing a market capitalisation of RM811.92 million. A total of 1.23 million shares changed hands.
According to Top Glove, it has already temporarily stopped production at 16 facilities in Meru since Nov 18. Meanwhile, the other 12 facilities have been operating at much reduced capacities.
We are committed to proceeding with the MoH's recommended Covid-19 screening test of the balance workers and staff of our factories in Meru, Klang.
The safety and well-being of our employees and local community are of our utmost priority towards containing the situation and to flatten the Covid-19 curve
According to the Ministry of Health (MoH), the Teratai cluster that is linked to Top Glove's workers reported 1,067 new Covid-19 cases today.
As of today, there are 2,524 positive cases (43.8%) that have been reported to be relating to the Teratai cluster, out of a total of 5,767 individuals who have been screened. A total of 1,330 samples are confirmed to be negative, while 1,913 are pending for results.
Based on data prepared by the MoH, the latest tally of active cases in the cluster — meaning patients who carry high transmission risks and have to be admitted to hospitals and quarantined — stood at 2,359.
All cases linked to this cluster involve 164 Malaysians and 2,360 foreigners aged between two and 68 years.
Most of the cases from this cluster are the factory workers in Meru, located in Klang. All positive cases were hospitalised and their close contacts were quarantined to prevent the spread of infections,said MoH director-general Tan Sri Dr Noor Hisham Abdullah at a media briefing today.
Earlier today, Senior Minister (Security) Datuk Seri Ismail Sabri Yaakob announced that a total of 28 Top Glove factories in Klang would cease operations in stages to allow factory workers to undergo screening and mandatory quarantine in an effort to contain the spread of the virus among Top Glove employees.
Top Glove Corp Bhd has confirmed that it will temporarily shut down 28 factories in Klang, Selangor following an insurgence of Covid-19 cases among its workers.
Top Glove, the world's largest glove manufacturer, has 41 factories in Malaysia.
Response thus far has been lukewarm but we have not given up hope. In absence of any success, we may have to plead to the government for help
Like never before, billboards have been erected at estates and mills, advertisements placed in the media, and intense engagement with the authorities to entice locals are done on a regular basis,
But now as lockdown policies restrict travel in many parts of the region, and the Malaysian government looks to cut back hiring of migrant workers, palm growers are left with little choice. The industry is also reaching out to drug rehabilitation centers for potential workers
2020-09-09 10:03 | Report Abuse
The lack of workers has plagued Malaysian growers for years. Despite incentives like free housing, electricity and social amenities, locals shun the labour intensive process of harvesting palm fruit, pushing the industry to employ migrant workers from Indonesia, Bangladesh and India. Dependence on foreign labour is now more than 80%
The bullish prices experienced now cannot be fully exploited and this is going to be a big loss to both the industry and the government. Benchmark futures in Kuala Lumpur have surged almost 50% from their low in May
Malaysian palm growers have employed prisoners since 2016, Nageeb said, but the search is intensifying as the coronavirus exacerbates the labour shortage. Malaysia, the biggest grower after Indonesia, was already short of about 36,000 workers before the pandemic, he said. Now that’s risen significantly, which means the country may see up to a 30% loss in potential output
Producers of the tropical oil are reaching out to prison departments in search of locals for work in the palm industry that’s considered dirty, difficult and dangerous, according to the Malaysian Palm Oil Association, a growers’ group that represents 40% of the palm-planted area in the country.
The coronavirus crisis has pushed the Malaysian palm oil industry into a labour crunch so severe that it’s turning to prisoners for help.
2020-09-09 10:00 | Report Abuse
Palm oil growers seek prisoners to end virus-driven labour crunch
Magni-Tech expects its operating environment for the rest of FY21 to be challenging given the yet-to-abate Covid-19 pandemic, and uncertainties about the pace of economic and business recovery.
Its packaging segment, however, recorded a 32% rise in PBT — despite a 2.9% slip in revenue to RM23.85 million on lower sale orders — thanks to lower raw material costs.
The lower revenue, on top of lower investment income, resulted in lower profit before tax (PBT) for its garment segment, which fell 14.1% to RM33.33 million
Its garment segment, which contributed to over 90% of the group's revenue in 1QFY21, recorded an 11.4% drop in revenue to RM268.14 million. The segment is its main income-generating segment and accounted for 95.2% of the group's profit from operations
The garment maker, which is also involved in the manufacturing and sale of flexible plastic packaging goods and corrugated cartons, said its financial performance for the quarter was considered "fairly satisfactory" given the pandemic-driven sharp economic contraction that had significantly impacted practically all business sectors across the globe
Magni-Tech Industries Bhd's net profit for the first quarter ended July 31, 2020 (1QFY21) fell 12.3% to RM26.76 million from RM30.51 million a year earlier, as revenue dropped 10.8% to RM291.99 million from RM327.33 million
The company said construction of the remaining lines is in the pipeline, with the construction of Plant 7 of the NGC also targeted to commence in late 2020
IWH takes cognizance of Ekovest as being one of its long-term trusted business partners that has the necessary skills and technical know-how to undertake largescale infrastructure developments. The Bandar Malaysia project is a prime national economic project, in which Ekovest’s direct participation and investment in IWH-CREC will potentially generate billions in order book sales arising from future infrastructure and development of Bandar Malaysia, which has an estimated gross development value (GDV) of approximately RM140 billion," said Ekovest, adding the outcome of the negotiation will be announced in due course
Ekovest's announcement comes less than two months after it was revealed that TRX City, an indirect wholly-owned unit of Malaysia's Ministry of Finance, had given IWC-CREC a four-and-a-half-month extension to pay the balance RM1.1 billion upfront deposit for the stake buy.
Ekovest said it was offered the opportunity — via a letter it received today from IWH — to explore the company's participation as a strategic investor in the development by taking up IWH's stake in IWH CREC Sdn Bhd (IWC-CREC)
The company has been loss-making since 2017. For the six months ended June 30, 2020,
new business to contribute 25% or more of the group’s net profits or net assets moving forward, barring any unforeseen circumstances
Notwithstanding the proposed diversification, the board intends to continue with its existing principal activities in the same manner. Yi-Lai is principally involved in the manufacture and sale of ceramic and homogeneous tiles, trading and distribution of tiles
Yi-Lai said it will provide funding to meet the financing conditions for the new business up to a commitment amount of RM9.5 million
Both companies intend to set up a joint venture firm to run the new business, with Yi-Lai holding a 49% equity interest and TechBase the remaining 51%
Yi-Lai said it has entered into an agreement with TechBase to collaborate for the purpose of establishing its new IT solutions business, which specialises in the provision of blockchain and system integration services
Ceramic and tiles manufacturer Yi-Lai Bhd is venturing into the information technology (IT) solutions business in partnership with TechBase Solution Sdn Bhd, a company controlled by its newly-appointed executive director Au Yee Boon
The completion of this expansion will bring the group’s total installed capacity to 76 billion pieces per annum.
the group’s preliminary plans for NGC 2.0 entailed seven production plants, comprising 82 production lines with an installed capacity of 32 billion pieces of gloves.
Towards this end, during the year, the group has acquired a parcel of land located in Banting, Selangor, totalling approximately 38.44 hectares...this is intended to serve as the future site for NGC 2.0
As we expand and diversify our market base, this sets the foundation for our next phase of expansion — NGC 2.0
2020-09-09 09:51 | Report Abuse
Premised on this, the group’s strategic growth plans are aligned with the anticipated long-term needs of the global healthcare industry
Stock: [HIBISCS]: HIBISCUS PETROLEUM BHD
2022-02-24 23:49 | Report Abuse