Latest
Destini forms JV with KTMB for rail maintenance
KUALA LUMPUR (Feb 24): Destini Bhd has entered into an agreement with Keretapi Tanah Melayu Bhd (KTMB) to establish a joint-venture (JV) company, ET Sdn Bhd (ETSB), to expand its capabilities in maint...
More:
Aeon’s net profit dips to RM41.42m in FY2020
KUALA LUMPUR, Feb 24 — Aeon Co (M) Bhd’s net profit for the financial year (FY) ended December 31, 2020, fell to RM41.42 million from RM109.229 million registered last year.
More:
MyEG again denies abusing its dominant position
KUALA LUMPUR (Feb 24): MY EG Services Bhd (MyEG) has again denied committing any offences of abusing its dominant position as part of its judicial review appeal at the Court of Appeal for the RM9.34 m...
Heathrow airport dives into £2.0b annual loss
LONDON, Feb 24 — London’s Heathrow airport dived into a net loss of £2.0 billion (RM11.4 billion) last year, a result that “underlines the devastating impact of Covid-19 on aviation”, it said...
Hap Seng Plantations posts higher 4Q net profit of RM36.95mil
KUALA LUMPUR: Hap Seng Plantations Holdings Bhd posted an 18.6% increase in net profit to RM36.95mil in the fourth quarter ended Dec 31, 2021, as compared to RM31.17mil in the previous corresponding quarter on higher average selling prices of crude palm oil (CPO) and palm kernel (PK)
Perodua plans capex of RM1.2b in 2021
RAWANG (Feb 24): Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is planning capital expenditure (capex) of RM1.18 billion on research and development (R&D) and expansion of sales network in 2021.
Hong Kong stocks dive on stamp duty plan
HONG KONG, Feb 24 — Hong Kong shares ended with hefty losses today after the city’s finance chief said he would hike stamp duty on equity trade for the first time in almost three decades.
SEDA appoints Hamzah Hussin as CEO
KUALA LUMPUR: Sustainable Energy Development Authority (SEDA) Malaysia has appointed Datuk Hamzah Hussin as its new chief executive officer, effective Feb 22, 2021.
Cover Story: The EV race Can Malaysia keep up?
I’M done with Malaysia. I am packing up and going to India and Indonesia to sell my technology to local bus manufacturers there,” says a Shah Alam-based developer of technology for electric bus po...
Tokyo's Nikkei ends sharply lower
TOKYO, Feb 24 ― Tokyo's benchmark stock index closed down more than one per cent today, hit by fears that an expected strong recovery in the global economy will fan inflation.
Catalist-listed Zico issues profit warning for FY20
KUALA LUMPUR (Feb 24): Zico Holdings Inc, an integrated provider of multidisciplinary professional services, has filed a profit warning with the Singapore Stock Exchange (SGX) as it expects to incur l...
Datasonic impacted by lower supply of passports
KUALA LUMPUR: Datasonic Group Bhd reported a weaker set of financial results in the nine months ended Dec 31,2020 mainly due to lower supply of passports provided due to the Covid-19 and international travel curbs.
Petronas finds gas 90km off Sarawak
KUALA LUMPUR: Petroliam Nasional Bhd found a gas from the Dokong-1 wildcat exploration well in Block SK417 production sharing contract (PSC), located in the shallow waters of Baram Province.
More:
Gloves, pharma stocks weigh on market
KUALA LUMPUR: Glove makers continued to lose ground in late morning trade on Wednesday while pharma stocks also followed as the vaccines for the Covid-19 are rolled out.
Govt to continue assisting glove industry
IPOH: The government will continue to assist the manufacturing sector, especially the rubber glove industry to maintain Malaysia’s position as a main player in the supply of rubber gloves for the gl...
More:
Asian stocks open lower on inflation fears
MIAMI, Feb 23 ― Asian equities opened lower today on concerns about rising interest rates and rich equity valuations and following a downdraft in US and European overnight trading.
Petronas Chemicals leads KLCI’s rebound
KUALA LUMPUR: Petronas Chemicals underpinned the FBM KLCI’s rebound early Wednesday after its strong fourth quarter earnings and also firm crude oil prices.
TechnipFMC clinches Petronas Carigali contract
KUALA LUMPUR: International oil and gas services company TechnipFMC’s subsidiary has secured a substantial contract – ranging from US$250mil to US$500mil – from Petronas Carigali Sdn Bhd for the Limbayong deepwater development project offshore Malaysia.
More:
Frontken posts record net profit in 4Q
KUALA LUMPUR: Frontken Corp Bhd’s net profit rose to RM23.29mil in the fourth quarter ended Dec 31,2020 (Q4 2020) from RM18.20mil in the same period the previous year.
BToto sees higher earnings
PETALING JAYA: Berjaya Sports Toto Bhd’s (BToto) net profit for its second quarter ended Dec 31,2020 rose to RM65.06mil from RM61.94mil in the previous corresponding period, mainly due to lower prize payouts as well as lower operating expenses incurred during the period.
Land & General posts 3Q net profit of RM7.24m
KUALA LUMPUR: Land & General Bhd (L&G) posted a net profit of RM7.24mil in the third quarter ended Dec 31,2020, against a net loss of RM637,000 in the same period of the previous year.
More:
Mobilia makes strong debut on Ace Market
KUALA LUMPUR: Home furniture manufacturer Mobilia Holdings Bhd made a strong debut on Bursa Malaysia’s Ace Market yesterday as it opened at 65 sen – a premium of 42 sen from its offering price of 23 sen.
More:
Marriott names new CEO after Sorenson death
WASHINGTON, Feb2 4 ― Marriott International yesterday appointed Anthony Capuano as chief executive, replacing Arne Sorenson, who died last week following a battle with cancer.
Billionaire Lufthansa investor Thiele dies aged 79
BERLIN, Feb 24 ― German billionaire Heinz Hermann Thiele, the biggest shareholder in Lufthansa airline, died yesterday aged 79, announced Knorr-Bremse, the company through which he built his fortune...
Applications for feed-in tariff quota to be opened in June
PUTRAJAYA: The government, through the Sustainable Energy Development Authority (Seda), will open applications for feed-in tariff (FiT) quotas totalling 188 megawatts for biogas, mini hydro and biomass resources in Peninsular Malaysia in June.
More:
Reliance to spin off O2C ops with US$25bil loan
MUMBAI: Reliance Industries Ltd (RIL) has started carving out its new oil-to-chemicals (O2C) operation into an independent unit with a US$25bil loan from the parent, as billionaire Mukesh Ambani steps up efforts to unlock the value of his businesses.
Thai exports continue to rise in January
BANGKOK: Thailand’s exports in January rose for a second straight month, climbing 0.35% from a year earlier, and should continue to grow this year as the global economy recovers, the commerce ministry said.
Saudi wealth fund targets startups
LONDON: Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd, joining the trend for state investors in the region to put money into early-stage companies.
Low-carbon steel becomes top priority
SHANGHAI: As China pursues cleaner, low-carbon and more efficient steel sector development, analysts expect multinational companies to carry out deeper and higher-quality cooperation in the Chinese market this year despite the impact of Covid-19.
Insight - Another Boeing crisis? Not exactly
IT’S never helpful for the aviation community when fiery debris falls from the sky onto a large US city. But some perspective is warranted on this weekend’s incident involving a United Airlines Holdings Inc-operated Boeing Co 777 jet.
Industry soaring high
BEIJING: China is leading the global civil aviation industry in recovering from the impact of Covid-19. The nation’s economic resilience and growth momentum continue to inspire confidence among multinationals in the aviation industry.
Brazil’s Vale bullish on conditions in China
RIO DE JANEIRO: Brazilian mining company Vale SA said it will continue investing in China and further expand its presence in the country, which has been witnessing an ever increasing share of the global mining giant’s total sales.
Lucid Motors to go public with US$24bil valuation
SAN FRANCISCO: Lucid Motors Inc is merging with a blank-cheque company run by financier Michael Klein that values the combined entity at a pro-forma equity value of US$24bil, the biggest in a series of deals involving electric-vehicle (EV) startups cashing in on investor appetite for battery-powered cars.
Iron ore imports hit record in 2020
BEIJING: China’s iron ore imports hit a record 1.17 billion tonnes in 2020, with the average import price up 7.3% year-on-year to US$101.7 per tonne, which analysts say reflects robust demand in the downstream steel market and a continued and stable recovery of the Chinese economy.
Brazil's Petrobras rebounds partly from stock plunge
SAO PAULO, Feb 24 ― Shares in Brazil's state-run oil company, Petrobras, partly regained their losses yesterday after diving by more than 20 per cent on news that President Jair Bolsonaro was changi...
More:
GameStop finance head to resign March 26
NEW YORK, Feb 24 ― GameStop Chief Financial Officer Jim Bell will resign on March 26, the video game retailer said yesterday, with the departure coming weeks after big bets by individual investors t...
Jetmakers to lose orders
Planemakers Airbus and Boeing are bracing for hefty jet order cancellations from troubled Norwegian Air amid restructuring proceedings, industry sources said.
Petron Q4 earnings up 45% on improved refining margins
PETALING JAYA: Petron Malaysia Refining and Marketing Bhd’s net profit for its fourth quarter ended Dec 31,2020 rose 45% to RM42.02mil from RM28.97mil in the previous corresponding period, boosted by improved refining margins and net inventory gains from recovering oil prices in the final quarter of 2020.
More:
Revenue increase for Sunway Construction Group
PETALING JAYA: Sunway Construction Group Bhd’s (SunCon) net profit for its fourth quarter ended Dec 31,2020, stood at RM30.20mil compared with RM31.64mil in the previous corresponding period, while revenue in the fourth quarter rose to RM627.24mil from RM485.94mil a year earlier.
More:
Perak Transit to manage bus terminal
PETALING JAYA: Perak Transit Bhd (PTB), via its wholly-owned subsidiary Terminal Urus Sdn Bhd, has entered into a collaboration agreement with NSS IT Solution Sdn Bhd to manage Terminal Bas Shahab Perdana, a bus terminal in Alor Setar, Kedah.
Petronas Chemicals posts strong Q4 earnings
KUALA LUMPUR: Petronas Chemicals Bhd posted a strong set of earnings in the fourth quarter ended Dec 31,2020 with net profit of RM466mil, underpinned by a recovery in petrochemical product prices, and it expects an improvement this year
More:
Powell says economy still needs Fed support, pushes back on inflation worries
WASHINGTON: Federal Reserve Chair Jerome Powell, pushing back on suggestions that loose monetary policy risked unleashing inflation and financial risks in what may be an emerging economic boom, said the central bank would keep its attention focused on getting Americans back to work as a vaccine-related recovery proceeds.
Oil price settles mixed amid post-storm uncertainty
NEW YORK: Oil prices settled near year-long highs on Tuesday on signs that global coronavirus restrictions were being eased, although concerns about the pace of a U.S. economic recovery and the return of Texas oil production kept gains in check.
Higher earnings for Manulife Holdings
KUALA LUMPUR: Manulife Holdings Bhd posted net profit of RM23.41mil in the fourth quarter ended Dec 31,2020 boosted by net realised gains and net fair value gains from its equity investments.
Berjaya Sports Toto posts higher 2Q net profit of RM65m
KUALA LUMPUR: Berjaya Sports Toto (M) Bhd posted net profit of RM65.06mil in the second quarter ended Dec 31,2020, an increase of 5% from RM61.94mil a year ago due to higher pre-tax profit from iH.R. Owen Plc (H.R. Owen).
SunCon posts net profit of RM30.2mil in Q4
KUALA LUMPUR: Sunway Construction Bhd posted a net profit of RM30.2mil in the fourth quarter ended Dec 31, 2020, slightly lower than RM31.64mil in the previous corresponding quarter due to a provision made in the construction segment.
IOI records jump in 2Q net profit to RM355.7mil
KUALA LUMPUR: IOI Corp Bhd posted a 66% jump in net profit in the second quarter ended Dec 31, 2020, to RM355.7mil from RM213.5mil in the previous corresponding quarter on the back of higher contribution from the plantations segment.
Poh Kong confident of fairly solid year
GOLD prices may be tapering off from last year’s peak, but Poh Kong Holdings Bhd remains optimistic of a better performance this year on the back of resilient demand for gold jewellery and investmen...
Vitrox’s 4Q profit jumps 79% as quarterly revenue hits record high
IATA plans digital travel pass to steer airlines towards recovery
US stocks drop amid inflation fears, vaccine progress
IMF chief warns pandemic leaving some countries behind
New York shuts cryptocurrency exchanges which hid losses
Malaysia Airlines to introduce Digital Travel Health Pass
SPV-driven 5G roll out will ensure digital divide risk ‘kept to a minimum’,...
Record breaking earnings for VSTECS in FY20, declares 4.5 sen dividend
Prestar's 4Q net profit jumps five-fold on stronger demand and higher selling...
Malaysia urged to explain deportation of Myanmar detainees despite court order
India’s largest stock exchange reopens after telecoms glitch
Geely Auto and Volvo Cars to launch powertrain venture after merger scrapped
D&O net profit surges 119% in 4Q amid higher demand, auto industry recovery
Malaysia’s Jan CPI records lowest deflation since March last year, falling by 0...
Allianz Malaysia posts higher net profit of RM520.32 mil in FY20
EVENING 5: Five things you need to know today
Strong aluminium prices lift Press Metal 4Q profit, declares 1.25 sen dividend
Inari Amertron posts best quarterly net profit in 2Q, to pay 2.5 sen dividend
South Africa sets out budget as economy reels from pandemic
Better operating profit from China narrows Parkson’s 2Q net loss
UOB Research: Malaysia’s headline inflation sees smaller contraction of 0.2pc
Rising aluminium prices lift Press Metal profits
AEON Malaysia registers RM41.4mil net profit in FY20
Genting Plantations says 4Q net profit up 28%, declares 15 sen dividend
DRB-Hicom 4Q profit surges on higher contributions from auto, property segments
Rubberex posts record FY20 earnings as 4Q profit scales new high with 203%...
SDB launches CSR initiative One-Two-Boost for adults with disabilities
Zico Holdings MD Chew claims 2014 agreement he signed with Zaid was drafted in...
AirAsia Group recognises RM299m loss on Japan associate's bankruptcy proceedings
UK bank Lloyds logs profit slump on virus hit
MIDF Research maintains 2021 inflation forecast at 1.8pc
Chair of Japan automaker Suzuki to step down
Ringgit marginally higher versus US dollar on improved sentiment
AirAsia takes RM320mil hit due to Japan unit bankruptcy
AirAsia Group says recognised RM299m loss in 2H2020 due to Japan associate...
Hap Seng Plantations' 4Q net profit rises on higher commodity prices
Globetronics Technology’s 4Q net profit rises 15.97% on higher revenue
Petronas makes oil discovery offshore East Java in Indonesia
MARC says 2021 investments unlikely to return to pre-pandemic level
Dayang Enterprise’s 4Q net profit plunges 83.17% on slow work orders
Bursa ends lower as vaccination programme intensifies selling in glove counters
Net foreign buying of ringgit bonds at RM3.7b in January
TM foresees flat or low single-digit revenue growth for FY21
Sunway joins global push for climate-related financial disclosures
Vitrox to expand capacity as Q4 revenue surges to new high
TM to invest 14% to 18% of FY21 revenue for capex purposes
Tek Seng returns to the black in 4Q on stronger PVC earnings, profitable solar...
French hotel giant Accor plunges into red as virus hits
Sterling rises past US$1.42, hits highest vs euro in a year
UOA Development net profit slips to RM391.28m in FY20
Dayang sees recovery in FY21 on higher oil prices after a weak Q4
FBM KLCI declines 7.5 points; almost 1,000 stocks in red
FBM KLCI closes down 7.5 points at 1,557.55
Yang di-Pertuan Agong says Parliament sittings may take place during state of...
European equities mixed at open
Finance minister: Govt approves RM1.259b under Penjana SME financing scheme
Perodua earmarks RM1.2b for capex this year
Iberdrola to spend more than $180 bln by 2030 after profit rises
Hong Kong hikes share trading tax, stock plunges despite record profit
China shares slump most in 7 months as tightening fears mount
Majuperak to raise RM21m from placing out new shares
Cover Story: Competition for EVs in Southeast Asia heats up
Malaysia on track for economic recovery with rollout of vaccination programme...
UK's Sunak could extend stamp duty holiday until June-end, says report
Tech: Yoodo to connect with more users this year
Malaysia's economy seen 'at risk' as MCO spurs slowdown bets — Moody’s Analytics
Several states in peninsula begin receiving Covid-19 vaccine
Sugarbook founder charged with inciting mischief over 'sugar babies' claims
Datasonic 3Q net profit slumps on lower demand for passport, consumables and...
Tashin, AYS, YKGI, Industronics, Sin Heng Chan, Samchem, Jade Marvel, Fajarbaru...
Bursa Malaysia working with vendors to address glitch, says CEO
Bridging the digital divide in Southeast Asia
Malaysia-Singapore Business Council urges reinstatement of travel bubble
Telekom Malaysia 4Q net profit at RM259m versus RM51m net loss a year earlier
KLCI struggles to keep gains as heavyweight glovemakers drag on vaccine rollout
Bursa Malaysia stays in positive territory at mid-day
Moody’s: Global economies to remain uneven this year due to Covid-19 impact
Moody's Analytics: MCO 2.0 will impact Malaysia's economic growth this year
UOA Development posts FY20 net profit of RM391.29mil
AirAsia shares slip on profit-taking; Choi emerges as substantial shareholder
Telekom Malaysia posts FY20 net profit of RM1.01b
LKL unit to exclusively distribute Singaporean trace tokens, eyes Selangor as...
High Court allows MACC to forfeit RM1.5m from MonSpace director Jessy Lai Chai...
Statistic Dept: Malaysia’s CPI fell 0.2pc yoy in January 2021
Hong Kong plans HK$101.6b budget deficit in 2021/22 fiscal year
Blue chips rally on earnings optimism
MY Say: Vigilante capitalism — should we cheer it on?
Malaysia CPI declined 0.2% year-on-year in January 2021
Syarikat Takaful up 6% on firm 4Q earnings, positive outlook
Bursa Malaysia in green zone at mid-morning, but selling in glove heavyweights persists
Denso Malaysia invests RM160m in advanced semicon production
Australia, NZ dlrs extend rally, RBNZ emphasises policy patience
Glove stocks in the red as first phase of Malaysia's vaccination programme...
JF Apex raises Frontken target price to RM5.78 on higher FY21, FY22 earnings...
MIDF upgrades PetChem to 'buy' with higher target price
HLIB Research upgrades BToto to 'buy', raises target price by 13% to RM2.40 on...
Tokyo stocks open lower on lingering inflation worries
CSC earnings above expectations
Hibiscus Petroleum to ride on oil price momentum
Ringgit rebounds against US dollar in early trade
Quick take: Maxis shares up on technical buy
Quick take: Alcom jumps 38% after strong earnings report
Trading ideas: Nestle, PetChem, IOI Corp, SunCon, AT Systematization
PPB earnings buoyed by higher CPO price
RLEB comes out strong despite challenges in industry
Opening of theme park by mid-2021, raises optimism of Genting group’s prospects
EasyJet bookings soar as England readies lockdown exit
Dollar stabilises after Powell, pound hits three-year high
Sterling hits US$1.41 for the first time in three years
IOI earnings to remains strong in 2H, says Kenanga
Berjaya Sports Toto sales recovery on track
Thailand plans new curbs on cryptocurrency
Influx of HK buyers fails to stem London’s posh home slide
Teladan Setia to focus on Melaka property sector
Elon Musk loses US$15bil in a day after bitcoin warning
Commodities hit highest since 2013 amid inflation concern
Pimco gets burned as Just Energy craters after Texas loss
Leong Hup Q4 net profit soars to RM52.56mil on higher revenue
Padini surged on higher trading volume, says RHB Retail Research
U.S. stocks up on Powell; Asia set for mixed start
Lucid Motors' US$62b valuation sparks bubble concerns
Apple plans to increase dividend, approves stock payout to CEO, says report
S&P 500, Dow close higher in late session turnaround
Global stocks rebound on Powell policy remarks, oil gains
HSBC to invest US$6bil in Asia after its profits beat estimates
Crude to rally sooner, higher than expected
Genting Malaysia invests RM3.23bil in theme park
US$43 mln investment turns into a US$3.3bil windfall
Three months to repair power cable under Penang Bridge, says TNB
Preparations underway for vaccinations in several States
Nestle, PetChem, Perak Transit, IOI Corp, Leong Hup International, Sunway...
Fed’s Powell pledges low rates until inflation exceeds two per cent
UN: Workers’ rights under threat as online work surges five-fold
Manulife’s 4Q net profit jumps 71% to RM23m, proposes 7 sen dividend
ATA IMS’s 3Q profit surges 165% on strong order flows
EVENING 5: Five things you need to know today
Perak Transit 4Q net profit grows 12% amid contribution from new IPTT, declares...
Industry calls for stiffer penalties against digital piracy amid annual losses...
Syarikat Takaful posts higher 4Q profit on savings from management expenses
IOI Corp posts 66% jump in 4Q net profit amid high CPO prices
Syarikat Takaful Malaysia posts RM362.42m profit for FY20
Bursa to consider applications for lower public shareholding spread at 15%-20%
Berjaya Sports Toto’s 2Q net profit up 5%, pays 2.5 sen dividend
Leong Hup 4Q net profit grew by 78% on better margins from livestock and other...
4% dividend announced for PTPTN’s education savings scheme
Moody’s Investors Service: Global sukuk issuance to stabilise to US$190b-US$200b in 2021
Race to roll out Covid-19 vaccines puts spotlight on logistical challenges
Axiata tower unit stake sale stalls after Myanmar coup — sources
Covid-19: Malaysia reports 2,468 new cases with 14 more deaths
Pos Malaysia on recovery track
Telcos to gain from 5G fast-track
Net profit improvement