Items filtered by date: May 2018

Bursa Malaysia Berhad successfully launched an enhanced US Dollar (USD) Denominated Refined, Bleached and Deodorised (RBD) Palm Olein Futures Contract (FPOL) to promote a more inclusive trading community on Bursa Malaysia Derivatives (BMD), in line with Bursa Malaysia’s aim to enhance product diversity in its trading sphere.

Its chief executive officer, Datuk Seri Tajuddin Atan said, “We are pleased to introduce the improved US Dollar Denominated FPOL as it provides more trading opportunities and flexibility to a wider group of investors, both domestic and foreign, who wish to explore commodity derivatives.

Published in GENERAL

As the Raya season approaches, Malaysians are gearing up to hit the road and reunite with their families to celebrate.

According to the Royal Malaysian Police, the influx of traffic on the road results in up to 1,500 accidents per day during the Hari Raya period every year.

Published in FEATURES

Former governor of Bank Negara Malaysia, Tan Sri Zeti Akhtar Aziz, was awarded the William “Bill” Seidman Award for Lifetime Achievement in Leadership in the Financial Services Industry for 2018, at The Asian Banker Future of Finance Summit 2018 at Aman Summer Palace on 23rd May 2018.

The guest of honour at the Leadership Achievement Awards Ceremony and Dinner was Sir Tim Berners-Lee, inventor of the World Wide Web, and was attended by about 100 top banking and financial industry executives from across Asia Pacific, the Middle East and Africa.

Published in GENERAL

Universal Robots, the leading collaborative robotics company, is strengthening its partner network in Malaysia. The four new partners, industrial technology integrators, will provide SMEs and enterprises with robot automation solutions. Frost & Sullivan finds that the total automation and control market in Malaysia will be worth USD 409 million (RM1.636 billion) by 2021.

Bizit Systems in Johor, Multitrade Asiapac and Servo Dynamics in Penang, and T. E. M. Engineering in the Klang Valley, join a growing network of UR channel partners in Southeast Asia to support increasing demand for collaborative robots (cobots) in the region. In Malaysia, cobots are deployed in industries such as electronics, automotive, semiconductor, furniture and consumer products.

Published in GENERAL

The financial services professionals are urged to cultivate and inculcate in the spirit of social responsibility and self-regulation for a culture of protection, compliance and risk management, among themselves and with the regulators.

“We are at the forefront as well as at the battlefront of the possibilities and challenges of FinTech. The Financial Services Professional Board (FSPB) is an industry-driven body enjoined to play that role in Malaysia’s financial services industry along with other similar bodies, said by FSPB Chairman, Tan Sri Dr Mohd Munir Abdul Majid at the opening of The Business Ethics Conference 2018 in Kuala Lumpur yesterday.

Published in GENERAL
Thursday, 24 May 2018 14:11

WCT Q1 Profit Up 17% to RM38.3million

WCT Holdings Bhd, a leading engineering and construction as well as property company, announced today that it had registered a net profit of RM38.3 million for the first quarter ended 31 March 2018. This was 17% higher compared with RM32.8 million recorded in the same corresponding quarter last year.

Revenue for the current quarter was also higher at RM540 million compared with RM473 million recorded in the first quarter of the last financial year. The improved revenue was primarily attributed to the Group’s Engineering and Construction segment which accounted for 83% of the Group’s consolidated revenue.

Published in CORPORATE

PRICEWORTH International Bhd saw its net profit surge six times to RM10.3 million for the nine months ended 31 March 2018.

The timber and sustainable forest management group’s 526 percent jump in net profit followed a 17.5 percent rise in revenue to RM130.4 million for the nine months, it said in an announcement to Bursa Malaysia.

Published in CORPORATE
Thursday, 24 May 2018 14:04

MSM Finds Its Sweet Spot

MSM Malaysia Holdings Berhad (MSM), the country’s leading refined sugar producer and a subsidiary of Felda Global Ventures Holdings Berhad (FGV), swings back to the black in its first quarter ended 31 March 2018 (Q1FY18), as it delivers a net profit of RM15.81 million against a net loss of RM34.62 million recorded in the prior year comparable period.

Earnings per share for the quarter under review stood at RM2.25 against RM4.93 in loss per share in Q1FY17. The much-improved performance in the current quarter was attributable mainly due to lower raw material costs and favorable foreign exchange rate. Also boosting MSM’s performance is the reduction of administrative expenses, down 33.0% quarter-on-quarter or RM9.1 million from RM23.8 million.

Published in CORPORATE

Malakoff Corporation Bhd, a member of MMC Group, recorded RM1,604.2 million in revenue for the quarter ended 31 March 2018 (“1Q FY2018”), a decrease of 10% from RM1,781.0 million reported in the corresponding quarter ended 31 March 2017 (“1Q FY2017”). The Group also recorded lower profit before tax of RM97.0 million compared with RM174.7 million reported in 1Q FY2017, a decrease of 44.5%.

The drop in revenue was primarily attributed to lower capacity payment recorded from Segari Energy Ventures Sdn. Bhd. (“SEV”) following the reduction in tariff under the extended Power Purchase Agreement (“PPA”) effective from 1 July 2017.

Published in CORPORATE

The Kuala Lumpur Convention Centre hosted its eleventh annual buka puasa gathering for 94 children from Living Hope and Yayasan Generasi Gemilang, as well as 32 National Kidney Foundation (NKF) Malaysia patients and their families to an evening of fun and festivities.

All guests were treated to the Centre’s ‘A Nostalgic Ramadan Journey’, a sumptuous buka puasa feast featuring a delectable spread of mouth-watering signature dishes and hometown favourites specially prepared by its award-winning Chefs.

Published in GENERAL
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