Items filtered by date: August 2017
Wednesday, 30 August 2017 09:58

Malaysia – A Stellar Year

By Edward Lee (Head, ASEAN Economic Research Standard Chartered Bank) and Jonathan Koh (Economist, Asia Standard Chartered Bank, Singapore Branch) 

Standard Chartered Bank is raising its 2017 GDP growth forecast for Malaysia to 5.4% from 4.6%. 

This reflects strong H1 growth of 5.7%, although we still expect growth to ease in H2. Two key areas positively surprised us in the H1 data: (1) the resilience of private consumption, which rose close to 7% y/y; and (2) private investment, which increased 10% y/y. 

Published in OPINION
Wednesday, 30 August 2017 09:57

Sunway Group Registers 33.2% Jump In Profits

Sunway Bhd recorded a second quarter ended 30 June 2017 pre-tax profit of RM271.4 million and a net profit of RM233.3 million, a jump of 33.2% and 29.7% respectively from the same quarter last year due to better performance from most business segments. 

Profits were also boosted by the share of higher fair value gains from the annual revaluation exercise done on Sunway REIT properties of RM56.8 million in the current quarter, compared to RM23.7 million in the corresponding quarter of the previous financial year. 

Published in CORPORATE

MSM Malaysia Holdings Bhd (MSM), the country’s leading refined sugar producer and a subsidiary of Felda Global Ventures Holdings Berhad (FGV), is boosted with a 2.4% profit margin improvement for its Q2 FY17 against the preceding Q1 FY17 mainly due to the sales spike during the Hari Raya festive season. 

Taking into consideration that 80% of MSM’s operating costs is highly dependent on global market price of raw sugar and foreign exchange rate, the quarterly profit margin improvement is a clear sign of confidence that MSM is focused on growing its market share penetration strategies. 

Published in CORPORATE

Marine & General Bhd announced its results for the quarter ended 30 June 2017 by reporting a revenue of RM 37.8 million. The Company also reported an impairment charge of RM 48.9 million resulting in a loss before tax (“LBT”) for the quarter of RM 78.3 million. 

This performance is lower compared to the revenue of RM 41.2 million and LBT of RM 20.6 million recorded for the corresponding quarter the year prior.

Published in CORPORATE

Danajamin Nasional Berhad (Danajamin), the country’s first Financial Guarantee Insurer, yesterday announced that it is guaranteeing a 19-year RM340 million Medium Term Note Programme (MTN Programme) issued by Northern Gateway Infrastructure Sdn Bhd (NGISB).

This transaction marks Danajamin’s inaugural drop off guarantee for a ‘live’ bond which was established by NGISB in 2013.

Published in CORPORATE

CAB Cakaran Corporation Bhd, a Bursa Malaysia Main Market listed integrated poultry producer, registered a net profit of RM13.74 million for its 3nd quarter ended 30 June 2017 (3QFY2017), representing a 162% increase from RM5.23 million in the corresponding period last year. Its revenue stood at RM382.27 million, a 40.5% increase as compared to RM272.08 million a year ago.

In a filing to Bursa Malaysia, the largest broiler in Malaysia said that the increase in its revenue and profit for the reporting period was mainly due to the strong sales growth of the integrated poultry farming, processing division and the inclusion of sales from the newly-acquired subsidiary, Farm’s Best Food Industries Sdn Bhd (FBFI).

Published in CORPORATE

AirAsia Bhd, which reported its results for the quarter ended 30 June 2017 (2Q17), posted second quarter 2017 revenue of RM2.38 billion, up 19% on a like-for-like basis from RM1.99 billion in the same quarter last year. Revenue growth was supported by a 10% increase in passengers carried alongside a two percentage point increase in load factor. 

Operating profit was reported at RM517 million, up 37% from the same quarter last year. Net profit was reported at a lower RM140 million in 2Q17 compared to RM298 million in 2Q16 due to a one-off tax charge of RM212 million from the Group’s participation in the Indonesia Tax Amnesty Programme. In 2Q17, Share of results of associates turned to a loss of RM1 million as Thai AirAsia posted a profit decline on continuing weakness in the operating environment. Operating profit for Thai AirAsia fell 48% year-on-year to THB397 million.

Published in CORPORATE
Wednesday, 30 August 2017 09:41

7-Eleven Enjoys Good Run

7-Eleven Malaysia Holdings Bhd achieved significant improvement in its revenue and net profit in the second quarter of 2017 by 6.3% and 26.8% respectively compared to the first quarter. 

“We are confident that our strategic review of the business and the implementation of our “Back to Basics” program, will strengthen and solidify 7-Eleven Malaysia as the customer’s first choice of convenience store operators. This will be achieved via, the effective leveraging of our supply chain operations, and the sharpening of our offerings to our customers, with a key focus on Fresh Food and In-store services,” said Acting CEO Ho Meng. 

Published in CORPORATE

Internet Alliance (IA) - also known as “Persatuan Hubungan Internet Selangor dan Kua-la Lumpur”, a non-profit organisation that collectively facilitate over 80 per cent of Ma-laysia’s active Internet scene aims to double its membership by end of 2017

The current IA membership comprises about 50 odd members, who are largely made up of Internet Service Provider (ISP) corporations and businesses. The alliance made the pledge at the recent AGM where it appointed new committee for the next one year.

Published in GENERAL

PETRONAS LNG Ltd. (PLL), a subsidiary of PETRONAS, has signed a 15-year Sale and Purchase Agreement (SPA) with S-OIL Corporation (S-OIL) to supply liquefied natural gas (LNG) to be used as fuel for S-OIL’s new plant operations and as feedstock for hydrogen production.

Under the long-term SPA, signed on 25 August 2017 in Kuala Lumpur, PLL is committed to deliver up to 0.7 million tonnes per annum (MTPA) of LNG to S-OIL beginning 2018. Signing on behalf of PLL was its Chairman, Ahmad Adly Alias while S-OIL was represented by Dr. Ryu Yul, its President, Corporate Strategy and Services.

Published in CORPORATE
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