Kenanga upgrades STMKB to 'outperform'
KUALA LUMPUR: Kenanga Research has upgraded Syarikat Takaful Malaysia Keluarga Bhd's outlook following an improved earnings result in 3QFY20 from the previous quarter.
Trading ideas: Top Glove, AirAsia, Wah Seong, My EG, Inari
KUALA LUMPUR: Top Glove Corporation, AirAsia Group, Wah Seong, MY EG Services and Inari Amertron are among the stocks which could see trading interest on Wednesday after the barrage of corporate news, according to TA Securities Research.
IJM unit wins RM315mil Penang construction job
KUALA LUMPUR: IJM Corp Bhd’s wholly-owned subsidiary IJM Construction Sdn Bhd has bagged a RM314.8mil contract from Laksana Positif Sdn Bhd for the construction of a 34-storey hotel and office tower at The Light City in Gelugor, Penang.
Land & General net profit up eight-fold
PETALING JAYA: Land & General Bhd posted an eight-fold increase in net profit to RM14.08mil for the second quarter ended Sept 30 on the back of higher contributions from its property, education and other divisions.
Luno rides on cryptocurrency to grow customer base
PETALING JAYA: Luno Malaysia, the largest digital asset exchange in the country with about 180,000 users, is confident of significantly growing its customer base in 2021, underpinned by the rising popularity of cryptocurrency.
MyEG earnings at RM70.74mil
KUALA LUMPUR: MyEG Services Bhd posted a net profit of RM70.74mil on the back of a RM136.09mil revenue in the third quarter ended Sept 30,2020, which was an improvement from the second quarter, due to its concession-related services
Malakoff aims to further grow RE venture
PETALING JAYA: Malakoff Corp Bhd registered a 46.2% decline in net profit to RM50.8mil in the third quarter ended Sept 30,2020, as compared to RM94.5mil in the corresponding quarter last year.
AirAsia revenue rises in Q3
PETALING JAYA: AirAsia Group Bhd has posted a revenue of RM443mil for its third quarter ended Sept 30, representing a 272% increase compared to the preceding quarter but a decline of 86% year-on-year (y-o-y).
Is it time for countries to open their borders?
PETALING JAYA: It is important for some countries to open their borders to support trade and recovery, although the shape and nature of recovery among the individual Asean members remain uncertain and can vary by country, senior fellow at Yusof Ishak Institute (ISEAS) in Singapore Dr Jayant Menon told a webinar.
Oil price closes at highest level since March
NEW YORK: Oil rose about 4% on Tuesday to touch highs not seen since March as a third promising coronavirus vaccine raised hope for fuel- demand recovery and U.S. President-elect Joe Biden began his transition to the White House.
40 production companies get RM13.9 mil from FINAS
PUTRAJAYA (Nov 24): Some 40 production companies have received offer letters for funds totalling RM13.927 million from the National Film Development Corporation’s (FINAS) Digital Content Fund (DKD) ...
Berjaya Land, Inari, Hong Leong Industries, AirAsia, ARB, Malakoff, UEM Sunrise...
KUALA LUMPUR (Nov 24): Based on corporate announcements and news flow today, stocks that may be in focus tomorrow (Nov 25) include: Berjaya Land Bhd, Inari Amertron Bhd, Hong Leong Industries Bhd, Air...
AirAsia Group’s net loss widens to RM851.78m in Q3
Revenue plunged 86 per cent to RM442.91 million during the quarter under review from RM3.07 billion previously, as the Covid-19 pandemic continued to adversely affect demand for flights, said the low-...
Class action lawsuits to become EU law
The measure will become law within the next two years, once it is published in EU’s official administrative gazette, and member states change their laws to include it.
Airlines set to lose US$157bil amid worsening slump - IATA
PARIS (Reuters) - Airlines are on course to lose a total US$157 billion this year and next, their main global body warned on Tuesday, further downgrading its industry outlook in response to a second wave of coronavirus infections and shutdowns afflicting major markets.
Tesla set to breach US$500b in market value
Shares of the electric-car maker have risen nearly 28 per cent since the S&P Dow Jones Indices confirmed they would add the company to Wall Street’s benchmark index from December 21.
CPO December contract closes lower at RM3,448
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today, in line with the weaker soybean oil prices on the US Chicago Board of Trade (CBOT).
Wee: I will resign if I am lying about KVDT2 project
KUALA LUMPUR (Nov 24): Transport Minister Datuk Seri Dr Wee Ka Siong said today that he will quit if he is found to be lying about the Klang Valley Double Tracking 2 (KVDT2) project as well as the ong...
Leong Hup International's 3Q results up on-quarter
KUALA LUMPUR: Integrated poultry company Leong Hup International Bhd recorded an improvement in its third quarter results ended Sept 30,2020 from a quarter ago with net profit at RM22.53mil on revenue of RM1.57bil.
PBA 3Q net profit jumps nearly 83% to RM11.3m
KUALA LUMPUR: Penang water supply operator PBA Holdings Bhd saw its net profit jump by 82.8% to RM11.30mil in the third quarter ended Sept 30,2020 from RM6.18mil a year ago boosted by an increase in domestic water revenue.
Germany revises up Q3 economic growth
The record increase in gross domestic product (GDP) beat the preliminary estimate of 8.2 per cent quarter-on-quarter announced in October, federal statistics agency Destatis said.
Emirates remain optimistic on outlook in Malaysia
He said the international airline has recently increased its flight frequency between Kuala Lumpur and Dubai from its existing four-time to five-time weekly service when other airlines decided to grou...
UEM Sunrise posts RM28.9mil loss in Q3
KUALA LUMPUR: Property developer UEM Sunrise Bhd remained in the red for a third consecutive quarters, but is planning to ramp up new launches amid a pick up in sales.
Over 1,000 stocks in red on Budget, Top Glove woes
KUALA LUMPUR: Bursa Malaysia recorded more than 1,000 counters in the red at the close on Tuesday on concerns about the ability of the government to get a majority of the MPs to support the Budget 2021 proposals on Thursday.
The quick and quiet rise of RM2 stores
A number of businesses have had to close down amid an extremely tough operating environment, but a particular category of stores has been seeing growing demand in Malaysia.
Ex-CEO of glove maker WRP charged with CBT
SHAH ALAM (Nov 24): Datuk Lee Son Hong, a former chief executive officer (CEO) of glove manufacturer WRP Asia Pacific Sdn Bhd, was charged in the Sessions Court here today with eight counts of crimin...
JD Health to raise US$4b in HK's largest IPO of 2020
HONG KONG: JD Health, the healthcare arm of Chinese e-tailer JD.com Inc, aims to raise up to $4 billion in Hong Kong's largest initial public offering (IPO) of 2020, three people with direct knowledge of the matter told Reuters.
OCBC Malaysia banks on digital for growth
IT is undeniable that digitalisation will expand the reach of banks, especially the foreign ones in Malaysia that have a limited number of branches, but how effective is it in terms of translating int...
Water conundrum in Selangor
IN a brief conversation with The Edge last week, a director of Pengurusan Air Selangor Sdn Bhd declined to comment on the many disruptions of water supply in the state.
CCK 3Q net profit rises 20% to RM9.25mil
PETALING JAYA: East Malaysian retail chain store and supermarket operator CCK Consolidated Holdings Bhd posted a 20.2% year-on-year increase in net profit to RM9.25mil for the third quarter ended September 30, 2020.
Aneka Jaringan unit forms joint venture
KUALA LUMPUR: Aneka Jaringan Holdings Bhd’s wholly-owned subsidiary, Aneka Jaringan Sdn Bhd, has formed a joint venture (JV) company in the Philippines with Sunway Geotechnics (M) Sdn Bhd (SunGeo) and Pertama Crane & Engineering Sdn Bhd.
Jewellers fall as gold lost lustre
KUALA LUMPUR (Nov 24): Shares in jewellers Poh Kong Holdings Bhd and Tomei Consolidated Bhd fell this morning as gold prices slumped 2% to a four-month low yesterday.
Top Glove, Budget worries weigh on sentiment
KUALA LUMPUR: Investors' concerns about whether the Budget 2021 would get majority approval in Parliament on Thursday and the closure of some of Top Glove's plants weighed on Bursa Malaysia at midday on Tuesday.
Post-Budget 2021: The case for a debt jubilee
“You can’t cross the sea merely by standing and staring at the water.” — Rabindranath Tagore, Indian Poet Laureate (1861-1941) Life-changing events can and do sometimes shake us to our core.
Zaid sues Zaid Ibrahim & Co
KUALA LUMPUR (Nov 24): Former de-facto Law Minister Datuk Mohamed Zaid Ibrahim has filed a suit against his former law firm Messrs Zaid Ibrahim & Co, following the termination of his chairmanship in ...
Danone to cut about 2,000 jobs
PARIS: Danone will cut as many as 2,000 jobs, including one in four positions at its global headquarters in Paris, as the world’s largest yogurt maker attempts to revive profitability amid the pandemic.
Blackstone seeks US$5bil for second Asia fund
HONG KONG: Blackstone Group Inc is doubling down on Asia, seeking to raise at least US$5bil for its second private equity fund focused on the region, people familiar with the matter said.
Biden to inherit US economic policy deadlock
WASHINGTON, Nov 24 — From the Federal Reserve to the trading houses of Wall Street, economists and analysts agree the US economy needs more stimulus to bounce back from the coronavirus downturn.
Top Glove, Petronas Dagangan weigh on KLCI
KUALA LUMPUR: Bursa Malaysia got off Tuesday on a cautious note as losses in Top Glove and profit taking on Petronas Dagangan weighed on the FBM KLCI amid a weaker broader market.
Four factors to determine Spore’s pace of recovery
SINGAPORE: While Singapore is turning the corner in its economic recovery, it still has a long way to go as it adapts to the new realities of the Covid-19 world, said Trade and Industry Minister Chan Chun Sing yesterday.
HLT posts lower earnings
KUALA LUMPUR: HLT Global Bhd, a maker of glove-dipping lines and rubber gloves, reported a surge in quarterly revenue, but its earnings in the three-month ended Sept 30 were lower due to a sharp increase in operating expenses.
Serba Dinamik Q3 net profit jumps 30.8%
PETALING JAYA: Serba Dinamik Holdings Bhd’s net profit rose 30.8% to RM148mil in the third quarter (Q3) ended Sept 30 from RM113.2mil in the corresponding period last year, in tandem with its higher revenue.