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The rapid rise and fall of the Anbang empire

The rapid rise and fall of the Anbang empire

RARELY in corporate history has a giant come and gone so quickly. Anbang was founded in 2004 as a small Chinese car-insurance company. By the start of last year it ranked among the world’s biggest insurers with some $300bn of assets, including stakes in hotels and financial firms across America, Europe and Asia. Given another […]

February 23, 2018 | By | Reply More
Pestech International posts 68pc jump in earnings 

Pestech International posts 68pc jump in earnings 

  KUALA LUMPUR: The future is electric for Pestech International Bhd (Pestech) as the company reported a 68 per cent jump in earnings in the second quarter ended December 31, 2017. The company expects its investment in rail electrification technology to open up new business opportunities in Malaysia and other neighbouring countries. Pestech, during the quarter under […]

February 23, 2018 | By | Reply More
Encorp Bhd registers loss of RM28m in 4Q17

Encorp Bhd registers loss of RM28m in 4Q17

February 23, 2018 @ 9:01pm KUALA LUMPUR: Property firm Encorp Bhd under Felda Investment Corp Sdn Bhd made a RM28 million loss in the last three months ended December 31, 2017, as revenue drops by more than a quarter to RM106.8 million. Encorp attributed the weak financial performance slower sales, coupled with losses in fair value of […]

February 23, 2018 | By | Reply More
Mega First FY17 net profit jumps to RM157.71m

Mega First FY17 net profit jumps to RM157.71m

KUALA LUMPUR: Mega First Corporation Bhd’s net profit for the financial year 2017 (FY17) ended Dec 31, 2017 jumped 36.5 per cent to RM157.71 million from FY16’s RM115.56 million on the back of a strong performance by its power division. The diversified company saw its FY17 revenue surge 51 per cent to RM910.86 million from RM600.74 […]

February 23, 2018 | By | Reply More
YTL Corp's Q2 net profit slips 4.54pc

YTL Corp's Q2 net profit slips 4.54pc

KUALA LUMPUR: Conglomerate, YTL Corporation Bhd’s net profit for the second quarter ended Dec 31, 2017, slipped 4.54 per cent to RM294.91 million compared with RM308.96 million raked in the same quarter in the previous year. Revenue was higher at RM3.89 billion versus RM3.62 billion, previously. In a filing with Bursa Malaysia, YTL Corp said for […]

February 23, 2018 | By | Reply More
Axiata seeks potential acquisitions in digital financial services sector

Axiata seeks potential acquisitions in digital financial services sector

KUALA LUMPUR: Axiata Group Bhd is scouting around for potential acquisitions in the financial technology (fintech), advertising technology (adtech) and Internet-of-Thing (IoT) companies as it is allocating RM200 million for expansion into the three areas this year. President and Group Chief Executive Officer Tan Sri Jamaludin Ibrahim said two-thirds of the amount would be spent […]

February 23, 2018 | By | Reply More
Ringgit ends marginally lower versus US dollar

Ringgit ends marginally lower versus US dollar

KUALA LUMPUR: The ringgit ended marginally lower against the US dollar today, amid the tapering of global oil prices, said dealers. At 6pm, the local note was quoted at 3.9170/9200 versus the greenback from 3.9150/9190 on Thursday. Oanda Corp Asia Head of Trading for Asia Pacific Stephen Innes told Bernama, the crude oil market continued […]

February 23, 2018 | By | Reply More
Scomi Engineering to be delisted on Feb 28

Scomi Engineering to be delisted on Feb 28

PETALING JAYA: Scomi Engineering Bhd (SEB) will be delisted from Bursa Malaysia on February 28 after the completion of its merger with parent company Scomi Group Bhd. To recap, it was supposed to be a three-way merger between Scomi, SEB and Scomi Energy Services Bhd (SESB). However, the proposal received objection from SESB shareholders. As […]

February 23, 2018 | By | Reply More
FGV's net profit soars fourfold to RM143.73m

FGV's net profit soars fourfold to RM143.73m

By NST Business   KUALA LUMPUR: Felda Global Ventures Holdings Bhd’s net profit soared more than four times to RM143.73 million in the year ended Dec 31 2017 from RM31.47 million previously. This is despite revenue easing 1.5 per cent to RM16.97 billion from RM17.24 billion. FGV’s fourth quarter net profit, however, dropped 31.9 per […]

February 23, 2018 | By | Reply More
YTL Corp Q2 earnings fall 14.6% on lower contribution from most business segments

YTL Corp Q2 earnings fall 14.6% on lower contribution from most business segments

PETALING JAYA: YTL Corp Bhd saw its net profit decline 14.6% to RM126.09 million for the second quarter ended Dec 31, 2017, from RM147.69 million in the previous corresponding quarter due to lower earnings from most business segments. Revenue for the quarter up 7.7% to RM3.9 billion compared with RM3.62 billion in the same period […]

February 23, 2018 | By | Reply More