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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
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
Snapchat parent’s stock plummets after Kylie Jenner tweet

Snapchat parent’s stock plummets after Kylie Jenner tweet

Jenner has huge followings on various social media platforms, including Twitter and Instagram. WASHINGTON: Snapchat’s parent company lost some US$1.3 billion in market value on Thursday after reality star Kylie Jenner’s tweeted that she was no longer using the messaging service. “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh […]

February 23, 2018 | By | Reply More
Indonesia raises US$1.25 billion in first Asian sovereign green bond sale

Indonesia raises US$1.25 billion in first Asian sovereign green bond sale

Indonesia raises US$1.25 billion in first Asian sovereign green bond sale Reuters JAKARTA: Indonesia has become the first Asian country to sell “green” bonds internationally in a US$1.25 billion deal as one of the world’s worst greenhouse gas emitters tapped into investor interest in climate-friendly investments. Globally, US$155.5 billion of so-called green bonds were sold […]

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
Natural Gas Named as Future Energy for Malaysia

Natural Gas Named as Future Energy for Malaysia

In collaboration with the International Gas Union (IGU), the Malaysian Gas Association (MGA) held the IGU Diplomatic Gas Forum, which is a series of forums in several major worldwide cities including Washington, Stockholm and Madrid. The forums are designed to create awareness on the gas market and benefits of natural gas amongst the diplomatic corps […]

February 23, 2018 | By | Reply More
South Korean SK Group signs MoU with Malaysia

South Korean SK Group signs MoU with Malaysia

KUALA LUMPUR: South Korean-based SK Group has signed a memorandum of understanding with Malaysia to invest in the latter to create blue ocean business opportunities in key sectors. The second largest conglomerate by market capitalisation in South Korea, has “bigger aspirations” for its regional head office in Malaysia, to be set up within four months, […]

February 23, 2018 | By | Reply More
GM to propose wage freeze, no bonuses for South Korean workers this year

GM to propose wage freeze, no bonuses for South Korean workers this year

SEOUL: General Motors Co will propose a base wage freeze and no bonuses this year as well a suspension of some worker benefits at its money-losing South Korean unit, in an effort to cut costs, showed an internal letter seen by Reuters on Friday. GM announced last week it would shut a plant in the […]

February 23, 2018 | By | Reply More