Posted by Believe3222 > 2024-01-22 09:19 | Report Abuse

need papa help again

Posted by Starship2 > 2024-01-24 13:55 | Report Abuse

72 % owned by Iskandar Hldgs ..which in turn is about 72 % owned by Mirzam Mahathir based on online data

Posted by Starship2 > 2024-01-24 14:02 | Report Abuse

Looks like he is also the CEO of the company

Posted by hhhiii123 > 2024-01-24 22:36 | Report Abuse

I am thinking to buy, i better avoid it, later kena forfeit by MACC lol

Posted by Medusa > 2024-01-25 20:20 | Report Abuse

Limit Up or Limit Down?

Kikiki…

PETALING JAYA: Mirzan Mahathir, the eldest son of former Prime Minister Dr Mahathir Mohamad, has been in the news for all the wrong reasons recently.

However, his company Betamek Bhd has brought him some cheer after its net profit surged 205% to RM5.05 million in its third quarter ended Dec 31, 2023 (Q3 FY2024) from RM1.66 million a year ago.

For the nine-month period to Dec 31, 2023, net profit increased 46.88% to RM15.51 million from RM10.56 million a year ago, while revenue rose to RM166 million from RM149.76 million in the comparative period.

The two-fold jump in quarterly profit was on the back of “strong demand” for its automotive electronics products and components from main customer Perusahaan Otomobil Kedua Sdn Bhd (Perodua), it said in a statement yesterday.


The electronics manufacturing services (EMS) provider’s quarterly revenue rose 8.2% to RM59.22 million from RM54.73 million a year earlier on higher revenue contribution from both the vehicle audio and video (AV) products and vehicle accessories segments.

Betamek declared a second interim single-tier dividend of 2 sen per share for the financial year ending March 31, 2024, to be paid on Feb 23.

Mirzan, 65, has a 72% deemed interest in the company via Iskandar Holdings Sdn Bhd, an investment holding company.

Betamek was established some 33 years ago through its wholly-owned subsidiary Betamek Electronics (M) Sdn Bhd. In the early 1990s, Mirzan became a major shareholder of the company.

Its No. 1 customer Perodua was founded in 1993 as the second national car maker, a project inspired by Mahathir as part of his grand strategy to speed up Malaysia’s industrialisation.

MACC probe

On Jan 18, the Malaysian Anti-Corruption Commission (MACC) confirmed Mirzan had been given 30 days to declare all his assets, both in the country or abroad.

The MACC said the order was an extension to an investigation being carried out in relation to information contained in the Panama Papers.

The anti-graft agency said it was also looking at Mirzan’s business activities related to sales and purchases of government-linked companies.

The next day, Betamek said it continues to operate its business “as usual” despite its managing director (Mirzan) being called by the MACC to assist with a probe.

“We wish to announce that the said investigation is unrelated to Betamek.

“As such, Betamek operates its business as usual without any interruption on our production and delivery of products to our customers,” the company said in a filing with Bursa Malaysia.

The company was listed on the ACE Market on Oct 26, 2022, at an IPO price of 50 sen. Its shares closed at 41 sen yesterday, valuing the company at RM184.5 million.