PM did not announce GKP 5.0, Bernama clarifies
KUALA LUMPUR (July 25): Prime Minister Tan Sri Muhyiddin Yassin did not make an announcement on Prihatin Special Grant (GKP) 5.0 as reported by Bernama, following a media conference by the premier yes...
Penang CM undergoes home quarantine
GEORGE TOWN (July 25): Penang Chief Minister Chow Kon Yeow is undergoing home quarantine, after an escort officer tested positive for Covid-19. In a statement today, Chow said he had taken an RT-PCR t...
UK economy faces US$6.3b hit from 'pingdemic', CEBR says
LONDON: The U.K.’s economy could face a loss of more than 4.6 billion pounds ($6.3 billions) in just four weeks if rules on self-isolation following a "ping” from the NHS app aren’t relaxed, according to data from Centre for Economics and Business Research.
The conservation issue
KUALA LUMPUR (July 25): To mark World Nature Conservation Day, observed annually on July 28, Options talks to Datu Md Ahbam Abulani from Hutan; Dr Wong Siew Te, the chief executive officer (CEO) of t...
Flat week for FBM KLCI
The sell-off on Wall Street on the first day of the trading week sent shivers down the spines of equities traders as the combined impact of resurgent Covid-19 cases and inflation fears were taking precedence over the economic recovery theme.
Managing the risk of rating downgrade
IN contrast to our earlier expectation that Malaysia’s economic growth would recover in 2021, and projected to expand by 5.5%–6.0% (Bank Negara: 6.0%–7.5%), we now believe that such view does not hold water anymore.
Eye On Stock - Dufu Technology
DUFU Technology Corp Bhd (code: 7233) is making its way higher in the ongoing range-bound channel after having made two previous unsuccessful attempts to break out.
Urgent case for public healthcare reform
KUALA LUMPUR (July 24): The Covid-19 pandemic has highlighted flaws in the public healthcare system as the many positive cases have placed enormous strain on government hospitals and facilities.
CTOS, the pride and legacy of Creador
CTOS Digital Bhd closed its initial public offering (IPO) debut at RM1.62, which is 47% above its IPO price of RM 1.10. Considering the weak market sentiment amidst raging Covid-19 cases in the region and political uncertainty, I would say the IPO was a huge success.
Malaysia needs a big reset button
AS the nation is fighting a tough battle against the raging Covid-19 pandemic, three particular news items have caught the attention of investors as it has brought to life the issues that have been bugging the country for a long time.
Hong Seng to acquire 51% in RZAC
PETALING JAYA: Hong Seng Consolidated Bhd’s wholly-owned subsidiary, HS Bio Sdn Bhd, has signed a heads of agreement following a proposed acquisition of 51% shareholdings in RZAC Immunesafe Sdn Bhd ...
CPI up 3.4% in June
PETALING JAYA: The country’s inflation rate, as measured by the Consumer Price Index (CPI), rose 3.4% in June, due to higher fuel prices when compared with a year ago, but the increase was lower than a survey of 3.5%.
Dynafront makes debut at 23 sen
KUALA LUMPUR: Dynafront Holdings Bhd, an insurance technology specialist, made its debut on the LEAP Market of Bursa Securities Malaysia yesterday at 23 sen a share, which was a premium of two sen or 9.6% over its offer price of 21 sen.
Economy faces challenges in recovery momentum
PETALING JAYA: The economy is anticipated to face challenges in preserving the recovery momentum as the Leading Index (LI), which acts as an indicator of the future movement of the overall economy, eased to 6.9% in May 2021 year-on-year (y-o-y) after rising 15.7% in April, said the Department of Statistics Malaysia (DOSM).
BAT posts higher Q2 net profit
KUALA LUMPUR: Cigarette maker British American Tobacco (M) Bhd’s net profit for the second quarter ended June 30, 2021, was higher at RM71.62mil, from RM54.61mil a year ago driven by domestic volume growth.
NTPM Q4 earnings at RM5.6mil
KUALA LUMPUR: NTPM Holdings Bhd’s net profit for its fourth quarter ended April 30, 2021 rose to RM5.60mil from RM4.08mil in the previous corresponding period, while revenue was lower at RM188.53mil from RM201.62mil a year earlier.
Kelington rides on semiconductor upcycle
AMIDST the coronavirus-induced market sell-off in 2020, local semiconductor stocks shone on the back of robust demand for chips as lockdowns and travel restrictions prompted consumers to buy more smartphones and electronic devices.
The toll on employment
IT is not easy finding the exact number of people employed in the hotel industry but industry experts put the figure at around 200,000 prior to the pandemic.
Ringgit ends marginally lower against US dollar
KUALA LUMPUR, July 23 — The ringgit reversed yesterday’s gains to end lower against the US dollar today as the high number of daily Covid-19 cases continued to weigh on sentiment, a dealer said.
KPMG's banking audits not up to scratch, says UK watchdog
LONDON (Reuters) - KPMG's bank audits needed improvements for an "unacceptable" third year running and the accounting firm will be closely monitored, Britain's auditing watchdog said on Friday in an unusually blunt assessment of leading accountants.
Bursa Malaysia remains lower at mid-afternoon
KUALA LUMPUR, July 23 ― Bursa Malaysia continued to stay in the negative zone at mid-afternoon today with the key index remaining in consolidation mode ahead of the weekend.
Bursa Malaysia ends morning session lower
KUALA LUMPUR, July 23 ― Bursa Malaysia’s key index remained lower at the end of the morning trading session today, weighed down by selling activities in selected heavyweights.
FBM KLCI fails to extend rally
KUALA LUMPUR: The previous rally was short-lived as the FBM KLC returned to profit-taking mode on Friday, with expectations that it will close the day firmly in consolidation mode.
AirAsia extends credit account validity to 3 years
KUALA LUMPUR: Due to the curbs on air travel due to the pandemic, AirAsia has extended the credit account validity period to three years from the date of issuance for all of its guests with a valid credit account issued before June 30, 2021.
Loss-making Paos jumps ahead of 4Q results
KUALA LUMPUR: Shares of loss-making Paos Holdings Bhd surged to a high of 63.5 sen on Friday in the absence of any fresh positive news while it is due to announce its fourth quarter results ended May 31, 2021.
Ringgit opens slightly lower against US dollar
KUALA LUMPUR (July 23): The ringgit opened slightly lower against the US dollar today as buying sentiment on the local unit deteriorated after Malaysia reported its second-highest daily Covid-1...
SupportLine: Greatech, SDS Group, MR DIY
Greatech Technology Bhd is experiencing some consolidation pressure but remains afloat of a short-term ascending trend line.Trading above all the key SMA lines, the stock is looking well-supported as ...
China to expand further solar power capacity
BEIJING: China is still expected to add up to 65 GigaWatts (GW) of solar power capacity in 2021, its solar manufacturing association said, taking total solar installations beyond 300 GW by the end of the year.
Cautious start for Bursa as Petronas stocks weigh
KUALA LUMPUR: Bursa Malaysia got off to a cautious start on Friday, weighed down by losses in Petronas Dagangan, Petronas Chemicals, KL Kepong and HLFG after the rebound the previous day but tech and chip stocks advanced.
Temasek defends its green goals
SINGAPORE: It might seem contradictory to invest in carbon-emitting polluters while pledging to be an eco-trailblaser but that’s exactly what Singapore state investor Temasek Holdings Pte is attempt...
The week That Was - AMMB, CTOS, Bitcoin,
AMMB in RM2.29bil deal AMMB on Monday said a 51% owned unit is selling its general insurance business to Liberty Insurance Bhd for RM2.29bil in a cash and shares deal.
Outstanding order book a boost for Sapura
KUALA LUMPUR: AmInvestment Research believes that Sapura Energy Bhd’s outstanding order book can increase by 10% to RM13bil based on the group’s bids of RM53bil currently.
Outlook for CMMT remains challenging
KUALA LUMPUR: The outlook for CapitaLand Malaysia Mall Trust remains challenging due to the worsening impact of the Covid-19 pandemic in the Klang Valley, although there are expectations of a recovery in the fourth quarter of the year.
Communications and multimedia sustainable during pandemic
KUALA LUMPUR: The communications and multimedia industry (C&M) remains sustainable despite the challenges posed by the Covid-19 pandemic, as the rise in online transactions as well as online learning and work-from-home activities boosted demand for its services.
Grab and Food Panda set good examples
KUALA LUMPUR: A total of 64,773 active contributors, comprising Grab Malaysia and Food Panda delivery partners have registered for and contributed to the Self-Employed Social Security Scheme (SESSS) under the Social Security Organisation (Socso) as of July 9, 2021.
Insight - Billionaire who missed out on TikTok is trying to beat it
IN 2017, Su Hua, the founder of a Chinese startup called Kuaishou Technology, was on the verge of closing the biggest deal of his career – the acquisition of a fledgling video service that would become TikTok. But arch-rival ByteDance Ltd swooped in with a better offer, and Su missed out on what has become a global sensation.Now, the 38-year-old entrepreneur is getting some payback
Higher earnings for United Plantations
KUALA LUMPUR: United Plantations Bhd’s (UP) net profit advanced to RM135.78mil in the second quarter (Q2) ended June 30, 2021 from RM123.59mil in the same period last year
CMMT’s net property income soars
PETALING JAYA: Capitaland Malaysia Mall Trust (CMMT) saw its a net property income (NPI) increase 36.5% to RM26.4mil for the second quarter ended June 30, 2021, from RM19.4mil in the corresponding per...
Vitrox posts record quarterly profit
PETALING JAYA: Vitrox Corp Bhd posted a record quarterly net profit of RM50.64mil, 121% higher year-on-year, for its second quarter ended June 30, 2021.
Uber buys trucking software firm for US$2.25b
SAN FRANCISCO, July 23 ― Uber yesterday announced a US$2.25 billion (RM9.5 billion) deal to beef up its freight unit with the acquisition of a firm specializing in logistics management software.
Upbeat quarterly update lifts Twitter shares
SAN FRANCISCO, July 23 ― Twitter yesterday posted better-than-expected results for the recently ended quarter with gains in revenue, profit and its user base, sparking a rally in shares of the messa...
UOA REIT Q2 earnings double despite soft market
PETALING JAYA: The net profit of UOA Real Estate Investment Trust (REIT) more than doubled in the second quarter ended June 30, led by stronger gross rentals as well as interest and other income.
TH regulation under Bank Negara an interim solution
KUALA LUMPUR: The regulation of Lembaga Tabung Haji (TH) under Bank Negara is an interim solution and will not change the original nature of TH as a superior agency especially in the management of pilgrims, according to the Finance Ministry.
JanaNiaga to ease SME cashflow issues
PETALING JAYA: The National Supply Chain Finance Platform or JanaNiaga is expected to contribute up to RM4.8bil a year to improve the cash liquidity of small and medium enterprises (SMEs).
Japan's power plan will rattle coal, LNG exporters
LAUNCESTON, Australia: Japan has been largely forgotten as a source of demand for energy commodities, overshadowed by the rapid rise of China, but the country's new electricity generation targets will shake the market up.
US gas prices at multi-year highs
LONDON: U.S. natural gas prices have surged to multi-year highs which will conserve scarce stocks, encourage more gas-focused drilling and promote a temporary switch back towards coal-fired generation this summer.
ViTrox Corp, Ireka Corp, Hong Seng, Tiong Nam, UOA REIT, CapitaLand Malaysia,...
KUALA LUMPUR (July 22) : Based on corporate announcements and news flow today, companies in focus on Friday (July 23) may include ViTrox Corp Bhd, Ireka Corp Bhd, Hong Seng Consolidated Bhd, Tiong N...
PM attends 'Malaysia Berzikir' programme
KUALA LUMPUR (July 22): Prime Minister Tan Sri Muhyiddin Yassin participated in the ‘Malaysia Berzikir’ programme during the ‘Forum Perdana Ehwal Islam’ slot as part of efforts to face the Cov...