19/06/2025

BIZ & FINANCE THURSDAY | JUNE 19, 2025

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Wentel Engineering optimistic on revenue growth for 2026

M’sia in position to develop Islamic finance market space: Affin Bank KUALA LUMPUR; Malaysia is well positioned to develop the Islamic finance market space and be a hub for liquidity pooling, supported by growing demand in Islamic secure funding, said Affin Bank executive director of group treasury Hanif Ghulam. He said Islamic secure funding, specifically the Mortgage Guarantee Investment Programme, reached RM42 billion in 2024. “The Islamic financial market has developed over the last few years, especially with the central bank’s initiatives to ensure market stability. We have built the depth of liquidity in the Malaysian Islamic financial space. “So, we are well positioned not only to respond to potential downside scenarios but also to seize opportunities in the market. We also have a large and wide array of products to cater for any risk in currencies and also commodities,” he told Bernama at the sidelines of Sasana Symposium 2025 yesterday. Hanif also highlighted Malay sia’s potential in attracting invest ments through sustainable and environmental, social and gover nance-related projects such as solar and hydroelectric. To attract more foreign inflows into the Islamic capital market, he stressed the importance of standardising documentation and improving the legal framework, as well as easing entry and exit for investors in line with investment opportunity profile requirements. “If we can just get our infra structure well planned, well developed in terms of documentation and access, we can grow this market by twofold or threefold,” said Hanif, who is also chairman of the Islamic financial market subcommittee. Yap said global semiconductor sales are projected to grow to US$697 billion (RM2.96 trillion) in 2025 from US$627 billion in 2024 (+11%), and Singapore contributes 11% of global chip output and 20% of chip equipment production. under the semifinished and assembly segment. Financial controller Yap Yew Wei said this is because the semicon ductor segment has large room to grow and they are starting off from a small base. “We expect our security screen ing equipment business to make organic growth but no surge of revenue for now,” he said at the press conference. “For the semiconductor segment there is room for us to pick up for both front end and back end customers,” he added.

for the coming year,” Chuah said. Wentel Engineering registered a profit after tax of RM6.1 million in the first quarter ended March 30, 2025, on the back of RM31.2 million in revenue. The growth is primarily attributed to high demand of E&E products including capital equip ment, advanced packaging and wire bonding. There was no dividend declared for the first quarter and financial year-to-date. Security screening equipment remained Wentel Engineering’s fundamental business as it con tributed 64.7% of its total revenue for the quarter. However, on a quarter-on-quarter basis, the com pany’s E&E segment, which pro duces semiconductors, is surging faster than its security screening equipment business, which falls

Chuah said at a press conference when announcing the company’s first quarter FY 2025 results yesterday. He said Wentel remains committed to leveraging its com petitive strengths and expanding the company’s market presence as means to drive value creation for stakeholders. This commitment will be supported by an expansion of a new manufacturing plant in Johor Bahru, which is targeted to begin operations in the first half of 2026. “The new plant is expected to substantially enhance our pro duction capacity and operational efficiencies, positioning us to capitalise on the resurgence of global trade economies. As demand rises, we are confident to achieve satisfactory financial performance

o Company eyes market in Singapore, says E&E sector there is on strong multiyear expansion trajectory

KUALA LUMPUR: Metal fabricator and assembler Wentel Engineering Holdings Bhd is optimistic that its revenue growth will be good in 2026, especially with its business operations remaining strong, parti cularly in Singapore. Group CEO Chuah Chong Syn said the company targets its products at the Singaporean market more than the local market in Malaysia. Ű BY MAHADHIR MONIHULDIN sunbiz@thesundaily.com

“Singapore’s electronic and electrical (E&E) sector is on a strong multiyear growth trajectory, supported by global semiconductor recovery, rising electronics exports and a robust ecosystem of manu facturing and R&D infrastructure,” he explained. In April 2025, Singapore’s elec tronics manufacturing output surged 15.2% year-on-year, outper forming regional peers and this reflects strong global demand for semiconductors, test equipment, and high-precision components,

Pharmaniaga aims to emerge from PN17 status by end-2025 or first-quarter 2026

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

expected to take about a week. “We’re targeting to complete the fundraising exercise by August,” said Zulkifli. “By end-August, we expect to complete the entire regularisation plan.” Under Bursa Malaysia’s rules, the group must record two consecutive quarters of net profit before it can exit PN17. However, Zulkifli said Pharmaniaga is seeking a waiver to shorten the wait time.“We’re proposing to consider one quarter before and one after the completion, instead of two full quarters post-completion.” As to the AGM, all 13 resolutions tabled were passed with 99% approval. “This shows that shareholders believe in our strategy and our journey towards exiting PN17,” Zulkifli remarked. He said that for 2024, the group recorded a profit after tax (PAT) of RM133.8 million, compared with a loss of about RM78 million previously. “We are targeting for 2025 about RM4 billion in revenue with a PAT of RM60

KUALA LUMPUR: Pharmaniaga Bhd is targeting to exit Practice Note 17 (PN17) status as early as end-2025 or by the first quarter of 2026. Managing director Zulkifli Jafar said its RM352.2 million rights issue and private placement will be the driver of its regularisation plan. “We are targeting, we are hoping, in the best-case scenario, we are out at the end of this year. In the worst-case scenario, we are out in the first quarter of 2026,” he said at a press conference after Pharmaniaga’s 27th AGM yesterday. Zulkifli said a substantial amount from the funds raised under the regularisation plan will be used to pare down its debt. “That paring down of our debt alone will save about 16 million a year on interest.” Pharmaniaga has 21 market days to finalise the private placement and the rights issue together with the subscription. The group will then undertake a capital reduction exercise,

From left: Pharmaniaga COO Ahmad Shahredzuan Mohamed Shariff, chairman Datuk Seri Abdul Razak Jaafar, Zulkifli and CFO Noraini Mohamed Ali at a press conference after the company’s AGM.

after it reported major financial losses. Pharmaniaga incurred a RM552.3 million impairment due to excess inventory of Sinovac Covid-19 vaccines.

million. This is our target although we hope we can achieve better than that.” Pharmaniaga, a subsidiary of Boustead Holdings Bhd, was classified as a PN17 company in February 2023

Petronas expands deepwater portfolio in Suriname with PSC for Block 66 PETALING JAYA: Petroliam Nasional Bhd (Petronas), through wholly owned subsidiary Petronas Suriname E&P BV, has signed a production sharing contract (PSC) for Block 66, located in the deepwater region offshore Suriname. where Petronas has recorded a series of exploration and appraisal suc cesses. Building on this strong foundation, Petronas is optimistic that the positive momentum and learn ings from Block 52 will carry over into Block 66 as it continues to explore and unlock the hydrocarbon potential of the area. existing operations in Suriname. The signing ceremony took place during the Suriname Energy Oil and Gas Summit and Exhibition with Petronas represented by vice-president of inter national assets of upstream, Mohd Redhani Abdul Rahman. Staatsolie Maatschappij Suriname was repre sented by managing director Annand Jagesar and Paradise Oil Company by director Rekha Bissumbhar. Mohd Redhani said, “This high-value, high-potential assets and deliver long-term value through global partnerships and deepwater innovation. With its prime location and significant resource potential, Block 66 complements Petronas’ existing deepwater portfolio. “We look forward to advancing our partnership with Staatsolie to unlock new energy opportunities together,“ he added.

The agreement was signed with Staatsolie Maatschappij Suriname NV and Paradise Oil Company NV, a wholly owned subsidiary of Staatsolie. Under the PSC, Petronas holds the operatorship with 80% participating interest, while POC holds the remaining 20%. Spanning about 3,390 sq km, Block 66 lies directly adjacent to Block 52,

In a statement yesterday, Petronas said the PSC includes a firm commitment to drill two exploration wells, targeting drill-ready prospects that offer significant resource potential and are strategically positioned to unlock synergies with Petronas’

This latest addition brings Petronas’ offshore interest in Suri name to six blocks, strengthening its position in the country following four discoveries to date.

acquisition marks a pivotal step in Petronas’ expansion into the prolific Suriname-Guyana hydrocarbon basin, aligning with our strategy to unlock