Kuala Lumpur News

In a series of significant developments, companies in Malaysia have demonstrated resilience and innovation.
Minetech Resources Berhad, Varia Berhad, and Daythree Digital Berhad reported strong financial results, reflecting strategic growth and operational efficiencies.
MADCash Sdn. Bhd. received international recognition for its impactful work with women entrepreneurs. Additionally, DAMO Academy partnered with the WHO Collaborating Center on Digital Health to advance medical AI innovations, highlighting a commitment to improving global healthcare.
These achievements underscore the dynamic progress within Malaysia’s corporate landscape.
Read more on the details below:

KYSM Ranks Top 5

Malacca, May 29: Kolej Yayasan Saad Melaka (KYSM) has achieved outstanding results in the Sijil Pelajaran Malaysia (SPM) 2023 exams, with nearly 50 per cent of candidates earning straight As. Out of 168 students, 81 attained this remarkable feat, placing KYSM among the top 10 best schools in Malaysia based on the Average School Grade (GPS).
KYSM’s GPS of 1.257 ranked 5th nationally, an improvement from last year’s 7th place, compared to the National Average Grade (GPN) of 4.60. “The remarkable achievement is the founder’s forward-looking vision turned to reality,” said Principal Tan Cheh Li. The school emphasizes character development and enhanced skills, offering extended curricula such as coding, IT, Mandarin, music, swimming, and leadership training.
Straight A+ SPM graduate Jasmine Hasya Junaidi expressed her gratitude, stating, “KYS has provided me with the best platform to become the best version of myself.”

SCIB Reports Strong Q3FY2024

Kuching, May 29: Sarawak Consolidated Industries Berhad (SCIB) announced a strong Q3FY2024 with RM44.3 million in revenue, a 36.86 per cent increase from RM32.4 million in Q3FY2023.
Profit Before Tax (PBT) stood at RM1.6 million, up from RM0.2 million in the same period last year.
The Construction/EPCC segment reported RM14.6 million in revenue, while the Manufacturing division saw an increase to RM29.7 million. Quarter-on-quarter, revenue grew 16.3 per cent from RM38.1 million in Q2FY2024.
SCIB’s subsidiary, SCIB Industrialised Building System Sdn. Bhd., secured a revised RM162.0 million contract for the PR1MA housing project in Kelantan, including residential units and various facilities.
“Achieving a profitable Q3FY2024 underscores our resilience and strategic vision,” said Ku Chong Hong, Managing Director of SCIB.
“Our recent milestones, including significant contracts and strategic land acquisitions, are crucial to our long-term objectives.”
SCIB remains optimistic about future prospects, focusing on strategic recalibrations, governance, and seizing growth opportunities to drive sustainable growth and deliver long-term value to stakeholders.

Daythree Digital Reports Revenue

Kuala Lumpur, May 29: Daythree Digital Berhad (“Daythree”) announced strong Q1 FY2024 financial results, with a revenue of RM23.7 million and a Profit Before Tax (PBT) of RM2.3 million.
The Group declared a first interim dividend of 0.725 sen per share, amounting to RM3.48 million, payable on 28 June 2024.
Managing Director Raymond Davadass stated, “We continue to leverage our technology and industry expertise to deliver unparalleled service to our clients. This dividend declaration further underscores our resilience amidst challenges and our strategic execution.”
During the AGM, all five resolutions were passed, reinforcing shareholder confidence in Daythree’s strategic direction. With the GBS industry expected to grow significantly, Daythree is well-positioned for long-term success. The company’s share price stands at RM0.350, with a market capitalisation of RM168.0 million.

Leyla’s Quest Launched

Kuala Lumpur, May 29: Ninot Aziz’s latest YA novel, “Leyla’s Quest: Echoes of Uthmaniyah,” was launched at the KL International Book Fair by Khair Ngadiron and Adibah Omar.
The novel explores the connection between the ancient Ottoman Empire, Aceh, and Melaka.
Ninot, an award-winning author, said, “I have always believed in the importance of storytelling to our societies. By retelling this story, I hope ‘Leyla’s Quest’ will inspire young people to think about the world around them.”
The novel follows Leyla, a modern-day e-gamer of Asian-Turkish descent, as she discovers a deep connection to her past.
The book cover, inspired by Turkish motifs and Malay heritage, reflects the historical ties between the two civilizations.
“Leyla’s Quest” is available at KLIBF and Hikayat Fandom Book Gallery.

Cybersecurity Skills Shortage

Kuala Lumpur, May 30: Sophos released its inaugural “MSP Perspectives 2024” survey report, highlighting that the biggest challenge for Managed Service Providers (MSPs) is keeping up with the latest cybersecurity solutions, cited by 39 per cent of respondents. Hiring new cybersecurity analysts to cope with customer growth and emerging threats was also a top concern.
The survey indicates that MSPs view the shortage of in-house cybersecurity skills as the biggest risk to their businesses and clients. Stolen credentials and unpatched vulnerabilities are also major concerns. Nearly a third (29 per cent) of ransomware attacks begin with compromised credentials.
“The speed of innovation across the cybersecurity battleground means it’s harder than ever for MSPs to keep up with threats and the cyber controls designed to stop them,” said Scott Barlow, vice president of MSP at Sophos.
In response, there is growing demand for managed detection and response (MDR) services. Currently, 81 per cent of MSPs offer MDR, with 97 per cent of those not currently offering it planning to add it. Most MSPs (66 per cent) use a third-party vendor to deliver MDR services, with 15 per cent delivering jointly through their own SOC and a third-party vendor.
Additional findings include increased demand for cyber insurance-related support and the need for flexibility from MDR providers. Data for the report comes from a survey of 350 MSPs across the U.S., U.K., Germany, and Australia.

Malaysian Wins Car

Kuala Lumpur, May 30: Muhammad Najmi Adha bin Hj Nasir, 28, won a new Perodua Bezza, his first car, in Lactel’s Hari Raya ‘Beli & Menang’ contest.
“Winning this car is truly a game-changer. I am even more motivated to obtain my driving licence so that I can drive my ageing parents around and take care of family needs,” said Najmi.
The “Kebaikan & Kebahagian Berbuka Bersama Lactel” contest ran from 1 March to 30 April and saw significant participation.
“At Lactalis, we prioritise everyday nutritional needs, especially during Ramadan,” said Paul Cazes, General Manager of Lactalis Malaysia.
Participants who purchased Lactel products worth RM15 had a chance to win prizes, including a Perodua Bezza, 42-inch Sharp TV, and Dyson V8 Slim Fluffy vacuum cleaner, along with weekly prizes like La Gourmet Vintage Tiffin and Touch n’ Go e-Wallet credits.

MR D.I.Y. Brings Back Bounce & Bingo

Kuala Lumpur, May 30: MR D.I.Y. Group [M] Berhad announces the return of its popular ‘Bounce & Bingo’ Championship.
Now in its second edition, the competition offers cash and prizes worth up to RM30,000.
“We received an overwhelming response to the first edition of Bounce & Bingo from our customers.
The game’s simple mechanics have proven to be enjoyable for everyone.
This time, it is even better, as we have increased the value of the prizes,” said Alex Goh, Head of Marketing.
The national-level tournament will take place from 8 to 9 June 2024 at 100 MR D.I.Y. stores, with the Grand Final at MR. D.I.Y. PLUS Mid Valley, Kuala Lumpur.
The champion will receive RM10,000 cash, with additional prizes for runners-up and consolation winners.
Pre-tournament practice sessions are available at selected MR. D.I.Y. stores from 31 May to 7 June 2024. Participants can join the tournament from 7 to 9 June 2024.

Varia Reports Strong Q4

Kuala Lumpur, May 30: Varia Berhad reported strong financial results for Q4 FY2024, with revenue surging to RM65.78 million, a 1,654 per cent increase from the previous year’s quarter.
Profit Before Tax (PBT) reached RM1.99 million, up 33 per cent from RM1.49 million last year.
“The strategic acquisition of PTM and the successful execution of significant projects have been pivotal to Varia’s outstanding financial performance in Q4 FY2024,” said Datuk Benson Lau, Managing Director of Varia.
For the twelve months ending 31 March 2024, Varia’s revenue stood at RM148.31 million, a 404 per cent increase from RM29.41 million the previous year.
The Group achieved a PBT of RM8.39 million, a substantial turnaround from a Loss Before Tax (LBT) of RM10.81 million in the prior year.
Looking ahead, Varia is set for continued growth, with PTM’s diversified order book valued at RM1.10 billion. A notable project includes the “Rancangan Tebatan Banjir Sungai Klang” in Selangor, valued at RM94.86 million.

Minetech Reports Resilient Q4

Kuala Lumpur, May 30: Minetech Resources Berhad reported solid financial performance for Q4 FY2024, achieving RM33.47 million in revenue despite challenging market conditions.
The company recorded a gross profit of RM3.62 million, up from RM3.40 million in Q4 FY2023.
For the fiscal year ending 31 March 2024, Minetech’s revenue rose to RM128.14 million from RM123.77 million the previous year, with a gross profit of RM14.97 million.
Abang Abdillah Izzarim, Executive Chairman of Minetech, stated, “While the quarter presented several challenges, our strategic direction and adaptability have proven effective. The contract renewal for the Selinsing Gold Mine Project is a testament to our capabilities and commitment to growth.”
Minetech reported a net loss of RM8.82 million for FY2024, an improvement from the RM11.87 million loss the previous year, attributed to enhanced operational efficiencies and strategic project completions. The company’s share price closed at RM0.135, with a market capitalization of RM241 million.

MADCash Wins Two Awards

Kuala Lumpur, May 31: MADCash Sdn. Bhd., a Malaysian fintech company, won two awards at the 2024 Money Awareness & Inclusion Awards (MAIAs).
The company received honors for Best For-profit Project for Underserved Communities and Closing The Gender Gap.
“We are super thrilled to receive this international recognition from the MAIAs,” said Nuraizah Shamsul Baharin, managing director of MADCash.
“Winning these two awards is a testimony to our hard work and the amazing effort put in by the women we fund.”
Michael Gilmore, founder of MAIAs, remarked, “MADCash’s awards in two categories demonstrate their robust approach to supporting underserved women entrepreneurs.”
MADCash was the only project in 2024 to achieve double wins.
The MAIAs highlight exceptional programs aimed at increasing financial awareness and access to fair finance globally.

DAMO Academy Partners WHO

Kuala Lumpur, May 31: DAMO Academy, Alibaba Group’s research institute, has partnered with the WHO Collaborating Center on Digital Health to advance medical AI innovations for developing countries.
The partnership was announced at the AI for Good Global Summit in Geneva.
Le Lu, Head of DAMO Academy’s medical AI team, stated, “Together, we aim to improve healthcare for those in need through advancements in medical AI development and digital health accessibility.”
Shan Xu, Head of the WHO Collaborating Centre on Digital Health, added, “Our collaboration symbolizes a joint commitment to harnessing digital innovations to foster global health and wellness.”
The partnership will focus on research, advisory, and training in digital health and AI, aiming to improve global health, especially in developing countries.
DAMO Academy’s AI technology has shown significant progress in early cancer detection, with high sensitivity and specificity in a large-scale test.