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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
FGV says Q4 net profit fell by a third

FGV says Q4 net profit fell by a third

KUALA LUMPUR: Felda Global Ventures Bhd, the world’s third-biggest palm plantation operator, on Friday said net profits for the last quarter fell by a third year-on-year. FGV saw net profits of RM76.6 million (US$19.62 million) for the quarter that ended in December, down from RM112 million the previous year, it said in a local stock […]

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
Media Prima posts fifth consecutive loss for Q4 2017

Media Prima posts fifth consecutive loss for Q4 2017

Media giant says costs related to impairments and downsizing of its workforce contributed to the decline. Blogspot pic PETALING JAYA: Media Prima has continued its downward streak, posting a fifth consecutive quarterly loss with an income deficit of RM378.2 million against a net profit of RM5 million in its fourth quarter ended Dec 31 last […]

February 23, 2018 | By | Reply More
Sime Darby Bhd bullish on continued growth for industrial, motors divisions

Sime Darby Bhd bullish on continued growth for industrial, motors divisions

KUALA LUMPUR: Sime Darby Bhd is upbeat on maintaining its robust growth in industrial and motor divisions for the financial year, ending June 30, 2018 (FY18). Group chief executive officer Jeffri Salim Davidson said the multinational company would focus on expanding its core businesses, driven by encouraging performances in the previous quarters. He said the […]

February 23, 2018 | By | Reply More
Dimension Data Adopts Cisco Umbrella

Dimension Data Adopts Cisco Umbrella

Dimension Data extended its protection from ransomware, phishing attacks, bot networks and all types of malicious software with Cisco Umbrella, the industry’s first Secure Internet Gateway (SIG) in the cloud that provides the first line of defence against threats on the Internet. This move is to protect its 28,000 employees and addressing its clients’ requirement […]

February 23, 2018 | By | Reply More
CMSB records higher earnings, revenue for FY17

CMSB records higher earnings, revenue for FY17

KUALA LUMPUR: Cahya Mata Sarawak Bhd’s (CMSB) net profit rose to RM249.02 million in the financial year ended Dec 31, 2017 (FY17), from RM217.31 million a year earlier. Revenue for the period increased to RM1.61 billion from RM1.55 billion recorded previously while earnings per share rose to 20.03 sen versus 15.75 sen. “The increase in […]

February 23, 2018 | By | Reply More
US tells India to cut tariffs as trade friction heats up

US tells India to cut tariffs as trade friction heats up

Donald Trump also says he will push for a ‘reciprocal tax’ against countries, including US allies, that levy tariffs on American products. NEW DELHI: US businesses and diplomats are pressing India to cut tariffs, industry and government sources say, after New Delhi’s move to increase customs duties on dozens of products to help its flagship […]

February 23, 2018 | By | Reply More
IOI Corporation registers RM596m net profit, RM2.4b revenue in Q2

IOI Corporation registers RM596m net profit, RM2.4b revenue in Q2

KUALA LUMPUR: IOI Corp Bhd’s net profit surged more than 37 times to RM595.9 per cent in the second quarter (Q2) ended December 31, 2017 from RM15.6 million a year ago. In a filing to Bursa Malaysia today, IOI said this was due mainly to net foreign currency translation gain on foreign currency denominated borrowings […]

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