Kuala Lumpur News

In this latest installment of Kuala Lumpur news, we highlight the strong Q1 FY 2024 performance of Hektar REIT with RM28.4 million in revenue, Flexidynamic’s RM4.75 million Q1 revenue bolstered by new infrastructure projects, and Samaiden’s record-breaking Q3 FY 2024 with RM75 million in revenue driven by robust green initiatives and strategic project executions, and more.

Samaiden Q3 Revenue Surge

Samaiden Group Berhad (“Samaiden”), a renewable energy specialist in EPCC of solar PV systems and power plants, announces its financial results for Q3 FY2024. The Group recorded a remarkable revenue of RM75 million, a 68.3 per cent increase from RM44.6 million in Q3 FY2023, driven by higher project progress.
Profit before taxation (PBT) for Q3 FY2024 rose to RM5.6 million, a 106.1 per cent increase from RM2.7 million in Q3 FY2023. Year-to-date, Samaiden reported RM170 million in revenue and a PBT of RM13.8 million, reflecting sustained growth and effective management strategies.
Comparing Q3 FY2024 to Q2 FY2024, revenue increased by 53.6 per cent from RM48.8 million, and PBT rose by 33.3 per cent from RM4.2 million, highlighting strong operational execution.
Group Managing Director, Ir. Chow Pui Hee, stated, “Achieving RM75 million in revenue for Q3 FY2024 underscores our effective strategies and the robust demand in Malaysia’s RE sector. The government’s initiatives, such as the Corporate Green Power Programme, significantly bolster our growth prospects. As Malaysia targets a 70 per cent renewable energy mix by 2050, Samaiden is strategically positioned to lead and support this ambitious transformation.”
Samaiden’s total orderbook as of 31 March 2024 stands at RM354.3 million, expected to contribute positively over the next three years. The company’s growth is further supported by Malaysia’s comprehensive RE initiatives and strong emphasis on ESG principles.

Flexidynamic Q1 Revenue

Flexidynamic Holdings Berhad (“Flexidynamic”), a key solutions provider for the rubber glove manufacturing industry, announced its Q1 FY2024 financial results.
The Group recorded RM4.75 million in revenue, down from RM10.80 million in Q1 FY2023, due to customers prioritising repair and maintenance over expansion amidst the Covid-19 resurgence.
Profit before taxation (PBT) for Q1 FY2024 was RM0.15 million, compared to RM0.78 million in Q1 FY2023, attributed to reduced revenue but offset by effective cost management.
The sequential decrease from RM8.66 million in Q4 FY2023 to RM4.75 million in Q1 FY2024 reflects the completion of high-margin projects in the previous quarter.
Managing Director Mr. Tan Kong Leong stated, “Despite challenging market conditions, our emphasis on cost management and operational efficiency has enabled us to maintain profitability. Securing the RM12.4 million contract for the water treatment plant and water intake at Loji Rawatan Air Chupak, Jajahan Gua Musang, Kelantan, marks a significant milestone in our strategic expansion into renewable energy and infrastructure projects.”
Flexidynamic, established in 2021, has grown its presence in Southeast Asia through strategic acquisitions and expansions.
The recent RM12.4 million contract further diversifies its portfolio into infrastructure, promising future growth and stability.

Hektar REIT Q1 Growth

Hektar Asset Management Sdn. Bhd., manager of Hektar Real Estate Investment Trust (Hektar REIT), announced strong Q1 FY 2024 results with improved operational efficiency.
Revenue grew by 3.2 per cent to RM28.4 million compared to Q4 FY2023, while Net Property Income (NPI) increased by 3.1 per cent to RM14.4 million.
The portfolio occupancy rate reached 87.2 per cent with a positive rental reversion of 3.5 per cent.
CEO Johari Shukri Jamil remarked, “Our recent diversification strategy is aligned with our objective to deliver attractive returns to our unitholders by injecting assets with accretive yield into Hektar REIT.”
Hektar REIT continues its Asset Enhancement Initiatives (AEI) at Subang Parade, which includes new key tenants and infrastructure upgrades. Additionally, the new Hektar Loyalty mobile application is in the final development stage to enhance customer engagement.
In January 2024, unitholders approved a diversification strategy to include non-retail assets, starting with the acquisition of Kolej Yayasan Saad Melaka. Hektar REIT aims for 20 per cent of its portfolio to consist of non-retail assets within the next five years, boosting portfolio resilience and consistent returns.
Hektar REIT also issued RM215.0 million Medium Term Notes under its RM500 million programme, guaranteed by the Credit Guarantee and Investment Facility (CGIF) of the Asian Development Bank (ADB). This AAA-rated tranche aims to support refinancing, capital expenditure, and AEI for Subang Parade.

Baking for a Cause

Women from the Lembah Subang and Seri Pantai People’s Housing Projects (PPR) have initiated a charity baking effort for this year’s Raya celebration. Supported by MyKasih Foundation, these home bakers, part of Cadbury Dairy Milk’s Kuih Raya Dari Hati initiative, produced 150,000 cookies over two weeks.
These bakers, mainly from low-income households, baked 2,000 tubs of Raya cookies, including Cadbury Chocolate Tarts and Cadbury Cheese Tarts. The cookies, purchased by Cadbury Dairy Milk Malaysia, were distributed to over 30 welfare homes and underprivileged communities with the help of Food Aid Foundation.
“Our partnership with MyKasih allows us to embody Cadbury Dairy Milk’s generosity by supporting local communities in remarkable ways. We are inspired by these women, who are working tirelessly to supplement their family income. We hope this Kuih Raya Dari Hati edition inspires communities to collaborate and uplift each other,” said See Mei Sin, Marketing Head for Malaysia and Singapore at Mondelēz International.
Nur Sharzi Bashar, who led the team of bakers at Lembah Subang PPR, shared her enthusiasm: “Two years ago, I started baking because my late sister and I had this dream of opening our own café. Now, getting to bake with Cadbury Dairy Milk and MyKasih has given me a chance to keep our dream alive. It is more than just making money, but every cookie we make reminds me of all the lives we could touch out there.”
The initiative is part of #MDLZPrihatin, a collaboration between Mondelēz International (Malaysia) and MyKasih to empower underserved families and communities through various forms of assistance, including food aid, education, skills development, and entrepreneurship.

MR D.I.Y. Lyrics Contest

MR D.I.Y. Group [M] Berhad [MR D.I.Y.] is inviting aspiring lyricists and music enthusiasts to participate in the ‘Merdeka Lyrics Competition,’ themed ‘Bersama Satu Suara.’
To celebrate Malaysia’s independence, MR D.I.Y. has collaborated with local singers Jaclyn Victor, Alif Satar, Alif Satar & The Locos, and Priscilla Abby, who will perform a song featuring the winning lyrics.
The competition offers prizes worth RM20,000.
The grand prize winner will receive RM10,000 in cash, the first prize winner RM5,000, the second prize winner RM2,000, and six consolation prize winners will each get RM500.

To participate, contestants need to:

1. Listen to the demo song on MR D.I.Y.’s social media: Demo Song
2. View the template and submit entries to: Entry Form
3. For more information, visit: MR D.I.Y. Contest Info

Join the competition and showcase your lyrical creativity for a chance to win big!