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Bursa Malaysia ends higher

Bursa Malaysia ends higher

KUALA LUMPUR: Bursa Malaysia ended higher on continued buying interest in selected heavyweight stocks, led by the finance sector, coupled with the bounce on regional peers, dealers said. The barometer index was mainly lifted by Public Bank and CIMB Group, which together accounted for 4.59 points of the index. At the close, the key FTSE […]

February 23, 2018 | By | Reply More
FGV to sell more non-performing assets

FGV to sell more non-performing assets

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) plans to divest two or three non-core and non-performing assets or investments this year. Group president and CEO Datuk Zakaria Arshad said talks with the related parties are underway. “One or two of them (deals) has already concluded. We need to sign the sale and purchase agreement,” […]

February 23, 2018 | By | Reply More
Allianz posts RM86.78 million net profit in Q4

Allianz posts RM86.78 million net profit in Q4

PETALING JAYA: Allianz Malaysia Bhd’s net profit declined 3.6% to RM86.78 million for the fourth quarter ended December 31, 2017 against RM89.98 million in the previous corresponding period, due to lower contribution from the general insurance segment. Revenue was flat at RM1.21 billion for the quarter under review. Allianz saw its full-year net profit down […]

February 23, 2018 | By | Reply More
Scientex buys flexible plastic packaging firm for RM190 million

Scientex buys flexible plastic packaging firm for RM190 million

PETALING JAYA: Scientex Bhd is acquiring the entire stake in Klang Hock Plastic Industries Sdn Bhd (KHPI) for RM190 million cash, which will set the tone for the group to become a regional powerhouse in the flexible plastic packaging market. The group said in a Bursa Malaysia filing that its wholly owned subsidiary Scientex Packaging […]

February 23, 2018 | By | Reply More
IOI Corp's Q2 net profit skyrockets on forex gains, declares 4.5 sen dividend

IOI Corp's Q2 net profit skyrockets on forex gains, declares 4.5 sen dividend

PETALING JAYA: IOI Corp Bhd’s net profit for the second quarter ended December 31,2017 jumped 38 fold to RM595.9 million from RM15.6 million a year ago, due to significant forex translation gains amounting to RM196.4 million as opposed to forex losses of RM330 million in the preceding year’s corresponding quarter. The group’s revenue fell 4.3% […]

February 23, 2018 | By | Reply More
Petrol One's Q2 profit more than halves on absence of forex gain

Petrol One's Q2 profit more than halves on absence of forex gain

PETALING JAYA: Petrol One Resources Bhd saw its net profit slump by 54.25% to RM419,000 in the second quarter ended December 31,2017 from RM916,000 a year ago, due to the absence of large unrealised exchange profit, which was recorded in the preceding year’s corresponding period. Revenue rose 7.9% to RM3.2 million in the quarter under […]

February 23, 2018 | By | Reply More
Lower construction materials contribution pulls Cahya Mata Sarawak Q4 earnings down 35.17%

Lower construction materials contribution pulls Cahya Mata Sarawak Q4 earnings down 35.17%

PETALING JAYA: Cahya Mata Sarawak Bhd (CMSB) saw its net profit for the fourth quarter ended December 31, 2017 slump 35.17% to RM65.80 million from RM101.51 million a year ago, due to higher production cost of cement, provision for soil erosion remedial works, foreign exchange loses and lower share of results of joint ventures. Revenue […]

February 23, 2018 | By | Reply More
FGV Q4 earnings down 31.9%

FGV Q4 earnings down 31.9%

PETALING JAYA: FGV Holdings Bhd’s net profit fell 31.9% to RM76.57 million for the fourth quarter ended Dec 31, 2017, from RM112.46 million in the previous corresponding quarter. Revenue for the quarter decreased 17% to RM4.28 billion, compared with RM5.15 billion in the same period in 2016. For the full year, FGV’s net profit jumped […]

February 23, 2018 | By | Reply More
Leading Index up 1.6% in December, economy seen expanding in first half

Leading Index up 1.6% in December, economy seen expanding in first half

PETALING JAYA: The Malaysian economy is expected to continue to grow in view of the favourable Leading Index (LI) and Coincident Index (CI) in December 2017 albeit slower momentum, according to the Department of Statistics Malaysia. “Supported by the level of both Diffusion Indexes sustaining above 50.0%, it is expected that the economic growth will continue […]

February 23, 2018 | By | Reply More
Ringgit rebounds to open higher against US dollar

Ringgit rebounds to open higher against US dollar

KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar today on a technical correction after three consecutive days of losses. At 9.00am, the ringgit stood at 3.9020/9060 against the greenback from Thursday’s close of 3.9150/9190. OANDA Corp Head of Trading for Asia Pacific, Stephen Innes said the ringgit was supported by higher […]

February 23, 2018 | By | Reply More