Given the current challenging overall economic landscape, Astro Malaysia Holdings Berhad will be undertaking a Voluntary Separation Scheme (VSS) that will allow the Group to further simplify the organisation, enhance operational efficiency and reduce annual operating expenses.
The VSS is offered purely on a voluntary basis.
Three subsidiaries of Scomi Group Bhd have, on Dec 7, applied for Judicial Management via a Judicial Management Order (“JM Order”) from the High Court of Malaya, Shah Alam as part of its exercise to undergo a financial restructuring scheme to put it on a firm footing.
The three companies are Scomi Engineering Bhd (SEB, Scomi Rail Bhd (SRB) and Scomi Transit Project Brazil (Sao Paulo) Sdn Bhd (STPBSP).
UMW Holdings Bhd’s Group profit before taxation (PBT) jumped more than tenfold while revenue increased by 23.5%, arising from improved contributions from all three of its core businesses.
The Automotive segment successfully capitalised on positive consumer sentiment during the Goods and Services Tax (GST)-free period; while the decision to focus on more urbanised sectors in the Equipment segment led to higher sales with increased demand in the construction sector.