02/05/2026

BIZ & FINANCE SATURDAY | MAY 2, 2026

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‘Mideast tensions cloud Tasco’s freight outlook’

Japan keen to expand food products and technology in Malaysia KUALA LUMPUR: Japan is keen to enhance the promotion of its food products in Malaysia and to cooperate in food technology, particularly in reducing greenhouse gas emissions (GHG), according to its Agriculture, Forestry and Fisheries Minister, Norikazu Suzuki. The minister said Japan is currently importing large volumes of palm oil from Malaysia while exporting rice, wagyu beef, and other Japanese products to the Southeast Asian nation. “I hope that we will be able to have exchanges in the food industry going forward so that Malaysian people will be able to enjoy more of Japanese culture and food services,” he told the media during a visit to Jaya Grocer at LaLaport Bukit Bintang City Centre here yesterday. According to a statement by Japan’s Agriculture, Forestry and Fisheries Ministry, Suzuki travelled to Bangladesh and Malaysia from April 28 to May 1 to hold meetings with government officials and conduct site visits to strengthen bilateral relations and expand exports of Japanese agricultural, forestry, and fishery products, and food. Yesterday, Suzuki exchanged views with Malaysian companies supplying Japan with urea, a raw material for fertilisers, as well as crude oil and petroleum products. He also held discussions with local retailers in Malaysia to expand exports of Japanese agricultural, forestry, and fishery products in addition to food. “I think it is important to provide a stable supply for Japan. Fertiliser prices will surely rise in the future. We will be looking at the impact of this on the farming industry and taking measures to support it,” he said. – Bernama Azizan appointed director of Bursa’s Islamic capital market KUALA LUMPUR: Bursa Malaysia Bhd has appointed Azizan Abdul Aziz as director of its Islamic capital market (ICM) effective yesterday. The bourse operator said in a statement that Azizan would assume the new role in addition to his current position as Bursa’s chief financial officer (CFO). Bursa Malaysia CEO Datuk Fad’l Mohamed said the appointment reflects Bursa Malaysia’s continued focus on strengthening its Islamic capital market proposition alongside its broader strategic priorities. According to the statement, Malaysia’s Islamic capital market remains a key pillar of the domestic capital market, having expanded from RM2.2 trillion in 2020 to RM2.7 trillion by end 2025, with shariah-compliant equities and sukuk contributing RM1.3 trillion and RM1.4 trillio, respectively. Reflecting the depth of shariah investing locally, syariah-compliant companies make up more than 80% of public listed companies on Bursa Malaysia. – Bernama M&G group, having joined the group in 2018 and has held several key leadership positions since 2022. These include his roles as chief operating officer of the downstream division, general manager corporate of Jasa Merin and subsequently deputy CEO of Jasa Merin, where he was progressively entrusted with broader responsibilities across both divisions and active participation in senior management engage ments.

PETALING JAYA: Tasco Bhd’s international business solutions (IBS) segment is likely to navigate a more challenging operating landscape amid ongoing geopolitical tensions in the Middle East, which have introduced intermittent volatility through higher fuel costs, trade rerouting and congestion at key shipping chokepoints, leading to firmer pricing in certain lanes. Berjaya Research Sdn Bhd, in a report, said although demand remains measured as customers adopt a cautious approach to shipment planning, the group’s disciplined cost management and the strategic forward pricing

o BerjayaResearchsaysgroup’sdisciplinedcostmanagement andstrategicforwardpricingframeworkshouldhelpmitigate margincompressionandsupportearningsresilience

Meanwhile, profitability improved signi ficantly with profit before tax more-than doubling and Patami recovering to RM9 million from a loss of RM2.4 million in Q4 FY25, driven mainly by a turnaround in the contract logistics division after it was affected by a one-off RM8.4 million warehouse write-off last year, coupled with ongoing operational improvements and cost efficiencies. Quarter-on-quarter (QoQ), revenue edged higher by 1.9% as the DBS segment improved 3.5%, while the IBS segment was largely stable. However, Patami contracted 15.5%, weighed down by higher finance costs and effective tax rate. Tasco declared a final dividend of 1.75 sen per share for FY26, higher than the 1.25 sen declared in FY25. “We maintain our Buy recommendation on Tasco with an unchanged target price of RM0.62, based on an unchanged target price to-earnings ratio of 10.0x pegged to our FY27 earnings per share. “We continue to favour Tasco for its diversified clientele base, healthy balance sheet with a net cash position, and expansion into business segments like cold supply chain and supply chain solutions. “Key downside risks include weaker-than expected business volumes, volatile freight rates, and escalating geopolitical tensions,” Berjaya Research noted.

improve operational efficiency and maximise the benefits of the integrated logistic services tax allowance incentive scheme ahead of its expiry in mid-2026, Berjaya Research said. On earnings, Berjaya Research said Tasco’s profit after tax and minority interest (Patami)

rebounded 43% year-on-year (YoY) to RM37.5 million in FY26, despite a 10% YoY decline in revenue to RM910.5 million due to softer contributions across both the IBS (-12.6% YoY) and DBS (- 8.0% YoY) segments. Nevertheless, Patami im proved on the back of stronger cost discipline, en hanced operational effi ciency and better operating leverage. Berjaya Research said

framework introduced by its parent company should help mitigate margin com pression and support earnings resilience during periods of rate volatility. Tasco’s IBS segment focuses on air and ocean freight forwarding, handling international shipments and buyer consolidation. Berjaya Research noted that within the domestic business solutions (DBS) segment, the group remains

Tasco’s FY26 results came in broadly in line with expectations, with revenue and Patami making up 98.2% and 96.4% of our full year forecasts respectively. Tasco’s revenue increased modestly by 3.5% to RM230.3 million in Q4 FY26, from RM222.6 million in the previous corresponding quarter, supported by stronger performance across most divisions within both the IBS (+1.8%) and DBS (+4.6%) segments, partially offset by declines in ocean freight forwarding (-17.7%) and the cold supply chain (-6.2%) divisions.

focused on its mid-to long-term growth strategy, supported by ongoing capacity expansion and rising warehouse utilisation. The firm noted that Tasco’s 400,000 sq ft extension at the Shah Alam Logistics Centre and the redevelopment of the Northport, Port Klang facility into a 300,000 sq ft modern warehouse remains on track for completion by mid-2026, with committed take-up providing better earnings visibility. Further, continued enhancements to logistics capabilities are also expected to

Fraser & Neave posts softer Q2, first-half results KUALA LUMPUR: Fraser & Neave Holdings Bhd’s (F&N) net profit for the second quarter ended March 31, 2026 (Q2’26) eased to RM96.27 million compared to RM140.33 million a year ago. RM309.35 million a year ago. Revenue declined 6.9% year-on-year to RM2.53 billion from RM2.72 billion. underpin the group’s long-term growth.” Lim said the group is confident in delivering stronger performance over the medium to long term.

The conglomerate, with its F&B speciality, said F&B Malaysia achieved a 2.3% revenue growth, which partially offset the 19% decline in F&B Indochina over the first half of FY2026 due to softer market conditions and pro longed border closures. On the group’s performance, CEO Lim Yew Hoe said although external factors have impacted near-term performance, the group’s core fundamentals remain sound, and it is managing these challenges proactively. “Despite heightened cost pressures and more cautious consumer spending, our core dairy and beverages business in Malaysia remains stable, reflecting sustained demand, supported by the strength of our market position. “At the same time, cost discipline and our ongoing strategic investments continue to approved by the board in 2022, designed to ensure leadership continuity and long-term operational stability across the group’s upstream and downstream divisions. Under the new structure, Hafidz will assume overall responsibility for Jasa Merin and continue to oversee both divisions,

“Our investments today, including F&N AgriValley and our dairy facility in Cambodia, are strengthening supply chain resilience and cost efficiency as we navigate evolving market conditions,” he added. Lim said the group is proactively managing cost pressures and supply chain disruptions due to heightened global and regional geo political uncertainties, which have elevated input costs. “We remain focused on executing our key priorities while maintaining a prudent and measured approach. We will continue to balance cost pressures with market sensitivities, with any price adjustments, if necessary, implemented gradually and considered only as a last resort,” Lim said. – Bernama

Revenue fell 7.6% to RM1.23 billion against RM1.33 billion last year, mainly due to weaker performance in Indochina’s food and beverage (F&B). Revenue for Indonesia F&B declined 16.9% amid softer market conditions and prolonged border closures, while F&B Malaysia recorded a 1% decline. “Core beverage and dairy businesses saw sustained demand in domestic markets despite ongoing global and regional geopolitical uncertainties and cautious consumer sentiment,” the company said in a Bursa Malaysia filing. The group posted a lower net profit of RM208.46 million for the first half of its 2026 financial year ended March 31 versus

Abdul Hafidz takes over as CEO of Marine & General subsidiary Jasa Merin PETALING JAYA: Marine & General Bhd (M&G) has appointed Abdul Hafidz Abdul Rahman as CEO of subsidiary Jasa Merin (Malaysia) Sdn Bhd effective yesterday. supported by a strengthened operational leadership team. Hafidz’s appointment forms part of a broader leadership transition, with a new

Hafidz succeeds Mohd Noor Ismardi Idris, who has retired following the completion of the current financial year, in line with the group’s structured leadership succession plan. The appointment marks the culmination of a multiyear succession planning initiative

generation management team being put in place to lead Jasa Merin into its next phase of growth. Hafidz has extensive experience within the