The Star Online: Business
The Star Online: Business |
- Restoran Oversea owner works his way up from earning just RM15 a month
- Fresh new start for Ibraco
- TM Q1 profit down
| Restoran Oversea owner works his way up from earning just RM15 a month Posted: 25 May 2011 06:39 PM PDT WHILE Yu Soo Chye's successful journey as an entrepreneur is well reflected and widely documented he owns Restoran Oversea, a booming restaurant chain which offers fine Chinese cuisine his real triumph really is from how he has worked his way up from earning a paltry RM15 monthly salary as a restaurant help back in 1957 to managing and owning a multi-million dollar business. "I'm a very fulfilled and blessed person with support from my family, workers and public over the last 30 years. I always dreamed of having my own restaurant when I was young and I made it come true. My sons and daughters are also helping me with my business now by playing different roles," he said. Since 1977, Restoran Oversea has gained much popularity for offering exquisite contemporary Chinese cuisine in Malaysia. Yu is the managing director and chief consultant of Oversea Enterprise Bhd which owns seven Restoran Oversea outlets, one "dim sum" outlet, one caf and two manufacturing plants in Malaysia. * Full story in The Star today. If you have a similar story to share e-mail us at inspired@thestar.com.my Full Feed Generated by Get Full RSS, sponsored by USA Best Price. |
| Posted: 25 May 2011 06:39 PM PDT KUCHING: Property developer Ibraco Bhd, which has exited the Practice Note 17 (PN17) list, will embark on a new residential project in Stutong here. The company also plans to extend its property development activities to other major towns in Sarawak and venture into construction business. Chief executive officer Chew Chiaw Han said Ibraco would launch the proposed Stutong housing project, comprising 77 single-storey terraced and semi-detached houses, in July. "The project will have a gross development value (GDV) of about RM15mil," he told StarBiz. Bursa Malaysia on Tuesday removed Ibraco from the PN17 classification, about six months after the company completed its regularistion scheme. Ibraco was classified a PN17 company after its revenue for the financial year ended Dec 31, 2009 fell below 5% of its paid-up capital. The company's regularisation scheme involved the development of Tabuan Tranquility, a massive commercial, industrial and residential project along Kuching-Samarahan Expressway. The mixed development on 66ha will comprise 640 double-storey terraced houses, 108 semi-detached houses, 60 units of three-storey townhouses, 76 units of four-storey shophouses, 72 semi-detached industrial buildings, an office block and a petrol station. Tabuan Tranquility, to be developed in five phases up to 2015, has a GDV of RM517mil. Chew said all the 76 shophouses priced between RM1mil and RM1.79mil had been sold. These shophouses are expected to be completed in July. "About 85% of the Tabuan Tranquility phase 5 residential development, comprising 204 terraced houses and 38 semi-detached houses, have been booked," he added. These houses are expected to ready by November 2012. Chew said Ibraco also planned to undertake its first mixed property development in Bintulu or Miri. He said the company had identified the land and might carry out the development via a joint venture with the landowner. Although the plan has yet to be finalised, he hoped the project could take off this year. To diversify its activities, Chew said Ibraco planned to venture into construction, including infrastructure and civil building works, for the private and public sectors. "We are actively studying it. Ibraco is an experienced contractor and has all the expertise," he added. Ibraco, which has built about 10,000 properties over the years in the Tabuan area here, has a land bank of about 285ha, mostly in Kuching and Lundu.
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| Posted: 25 May 2011 06:38 PM PDT KUALA LUMPUR: Telekom Malaysia Bhd's (TM) net profit for its first quarter ended March 31 (Q1FY11) was down 32.8% to RM163.3mil from a year ago mainly due to lower unrealised exchange gains on translation of foreign currency borrowings. But the revenue for the quarter under review recorded a 1.1% growth to RM2.15bil year-on-year (y-o-y), mainly attributed to higher revenue from data, Internet and multimedia services, which when combined contributed 57% of the group's total revenue for the quarter. Earnings per share was down to 4.6 sen for the quarter from 6.9 sen a year ago. Boosted by higher revenue and lower tax expense, normalised profit after tax and minority interest was up 40.3% y-o-y to RM122.3mil. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 1.5% to RM730.9mil compared with same quarter last year. Group chief executive officer Datuk Seri Zamzamzairani Mohd Isa (pic) said the company was making steady progress in all aspects of performance and operations despite the competitive market environment. "We again returned a strong normalised EBITDA margin of 33.6% as a result of increasing revenue and controlled spending. In the first quarter, we continue to witness data and Internet driving our revenue. "The mix of voice to non-voice revenue continues to change with voice now contributing 43.0% of revenue, while non-voice contributed 57% collectively," he said in a statement yesterday. Segmentally, data revenue increased by 6.8% in Q1FY11 to RM424.6mil compared with the corresponding quarter in 2010 arising from demand for higher bandwidth services. Internet and multimedia services turned in higher revenue by 12.7% to RM453.4mil in the quarter under review. However, other telecommunications services recorded a decrease of 3% to RM346.1mil Q1FY11 from a year ago. On operational performance, Zamzamzairani said it reflected TM's market leadership, growing data services, Internet and multimedia business, and prudent cost management. "Internet continues to be a strong revenue driver for TM with continuous growth in our Streamyx customer base with over 28,000 net additions in Q1FY11. "In addition, UniFi has also been successfully rolled out to 808,000 premises ... UniFi demand has also been very strong since its launch last year," he said.
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