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Nvidia CEO Optimistic About Global Tech Cooperation Under Trump Administration

Nvidia CEO Jensen Huang expressed confidence that global collaboration in science and technology will persist, even amid potential tighter export controls from the incoming Trump administration. Huang on Global Cooperation Despite the Trump administration’s previous restrictions on exporting US technology to China, Huang believes international collaboration remains essential. “Open science and global cooperation across math and science have been the foundation of societal and scientific advancements for a very long time,” Huang stated during a media session in Hong Kong. He emphasized Nvidia's commitment to balancing compliance with laws and policies while continuing to advance technology and serve customers globally. The Age of AI During a speech at the Hong Kong University of Science and Technology (HKUST) , Huang declared, “The age of AI has started — a new computing era that will impact every industry and every field of science.” Highlighting Nvidia’s innovations, he describe
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Ecofirst’s 4Q Profit Soars Over 140% on Strong Sales from KL-48 Project

Ecofirst Consolidated Bhd (KL) reported a remarkable increase in net profit for the fourth quarter, more than doubling from the same period last year, thanks to a robust sales conversion rate for its KL-48 project in Chan Sow Lin, Kuala Lumpur.

Key Takeaways:

  • Stellar 4Q Performance: Net profit for the three months ended May 31, 2024 (4QFY2024), surged to RM41.51 million, up from RM17 million a year ago. Revenue jumped nearly fivefold to RM87.86 million from RM17.84 million.

  • KL-48 Project Success: The KL-48 project achieved a sales conversion rate of over 80%, with site work progress at over 22% as of May 31, 2024. The project, valued at approximately RM1 billion, is strategically located and offers attractive pricing and features.

  • Future Prospects: Ecofirst is focused on boosting KL-48 property sales and scouting for development-ready land to enhance future performance. The company is also exploring joint ventures and rejuvenating abandoned projects.

  • Annual Performance: For the full financial year, Ecofirst’s net profit declined by 12% to RM12.64 million, mainly due to a provision for the writedown of an asset worth RM15.18 million amid unfavorable market conditions and higher administrative expenses. However, revenue soared by 427% to RM165.79 million, driven by contributions from the KL-48 project.

Ecofirst’s strategic focus on the KL-48 project and exploration of new opportunities position it well for future growth, despite some challenges in the broader market.

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