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Pengerang petrochem project struggles to attract the 'big guns'

Pengerang petrochem project struggles to attract the 'big guns'

KUALA LUMPUR: The completion of the Pengerang Integrated Petroleum Complex (PIPC) is likely to be delayed as Johor Petroleum Development Corp (JPDC) struggles to attract new big investors at a time when oil majors in the upstream segment are tightening their belts. JPDC CEO Mohd Yazid Ja’afar (pix) said Phase 1 of PIPC is on […]

January 27, 2016 | By | Reply More
MIER projects 4.7% GDP growth

MIER projects 4.7% GDP growth

KUALA LUMPUR: The Malaysian Institute of Economic Research (MIER) is maintaining its gross domestic product (GDP) forecast of 4.7% for 2016 amid gloomy global economic outlook and low oil prices. While acknowledging the projection is relatively “optimistic”, MIER executive director Dr Zakariah Abdul Rashid said this is supported by the strong fundamentals in the country’s […]

January 27, 2016 | By | Reply More
Consumer sentiment hit fresh low in Q4: MIER

Consumer sentiment hit fresh low in Q4: MIER

KUALA LUMPUR: Malaysia’s consumer sentiment hit a fresh low in the fourth quarter (Q4) of 2015, according to a survey by the Malaysian Institute of Economic Research (MIER). MIER’s consumer sentiment index dipped 6.4 points to 63.8 points in Q4 from 70.2 points in Q3, the worst ever. Year-on-year, the drop was 19.2 points from […]

January 27, 2016 | By | Reply More
Caring Pharmacy posts RM1.92m net profit in Q2

Caring Pharmacy posts RM1.92m net profit in Q2

PETALING JAYA: Caring Pharmacy Group Bhd’s net profit was flat at RM1.92 million for the second quarter ended Nov 30, 2015 against RM2.09 million in the previous corresponding period, due to lower margins due to lower selling prices with increased competition. Revenue, however, went up 10.42% from RM89.01 million to RM98.29 million, contributed by the […]

January 27, 2016 | By | Reply More
LPI Capital Q4 earnings down 12.7%

LPI Capital Q4 earnings down 12.7%

PETALING JAYA: LPI Capital Bhd’s net profit declined by 12.7% to RM102.21 million for its fourth quarter ended Dec 31, 2015 (Q4’FY15) from RM117.06 million a year ago, due to lower realised gains on its investment in equities. Revenue for the quarter was up 6.5% to RM338.62 million, from RM299.17 million previously, mainly driven by […]

January 27, 2016 | By | Reply More
Poh Kong cautiously upbeat on 2016 growth

Poh Kong cautiously upbeat on 2016 growth

KUALA LUMPUR: Jewellery retail chain Poh Kong Holdings Bhd is cautiously optimistic on its 2016 growth prospects despite registering a decrease in profit for the first quarter ended Oct 31, 2015 (Q1FY16). “Post GST (Goods and Services Tax) implementation, the whole (retail) market was impacted negatively. Consumer sentiment has actually turned quite bad,” its executive […]

January 27, 2016 | By | Reply More
Maybank IB Research keeps jobless rate forecast at 3.2-3.3%

Maybank IB Research keeps jobless rate forecast at 3.2-3.3%

PETALING JAYA: Maybank IB Research is maintaining its unemployment rate forecasts at 3.2%-3.3% this year, amid slower economic growth and rising operating costs, due to factors like subsidy cuts/removals, weak ringgit and hike in minimum wage. In a report released on Monday, its analyst Suhaimi Ilias said the research house believes that these factors will […]

January 27, 2016 | By | Reply More
Takaful Q4 net profit up 22.3%

Takaful Q4 net profit up 22.3%

PETALING JAYA: Syarikat Takaful Malaysia Bhd reported a 22.3% increase in net profit to RM36.38 million for the fourth quarter ended Dec 31, 2015 against RM29.75 million in the previous corresponding period due to higher wakalah fee income. Revenue was flat at RM403.34 million compared with RM401.49 million in the same period last year. The […]

January 27, 2016 | By | Reply More
Safety net for SMEs to leverage on TPP already in place

Safety net for SMEs to leverage on TPP already in place

KUALA LUMPUR: Local small and medium enterprises (SMEs) should leverage on the market access offered under the Trans-Pacific Partnership (TPP) agreement given the government has already put in place a safety net to help them venture abroad. Dispelling the misperception that 30% or 195,000 SMEs “will disappear” after the TPP, Institute of Strategic and International […]

January 27, 2016 | By | Reply More
EBay's fails to post revenue growth in holiday quarter

EBay's fails to post revenue growth in holiday quarter

REUTERS: EBay Inc reported no growth in revenue in the holiday quarter, during which it faced intense competition from bigger e-commerce rival Amazon.com Inc as well as traditional retailers. The company’s revenue was US$2.32 billion in the fourth quarter ended Dec. 31, flat with a year earlier. Net income fell to US$477 million, or 39 […]

January 27, 2016 | By | Reply More