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Sundaily (Asia) 02/27/2020 02:59
PETALING JAYA: RHB Bank Bhd posted a net profit of RM621.01 million in the fourth quarter ended Dec 31, 2019, 9.8% higher compared with RM565.43 million in the same quarter a year ago, mainly due to higher net fund based and non-fund based income as well as the absence of one-off impairment on other non-financial assets. The bank’s revenue grew 3.37% to RM3.42 billion from RM3.31 billion previously. It has proposed a final dividend of 18.5 sen per share, bringing the total dividend to 31 sen per share for the year with the highest ever payout ratio 50.1%. For the full-year period, RHB posted a net profit of RM2.48 billion, up 7.7% from RM2.31 billion in the previous year, thanks to higher net income, lower expected credit losses (ECL) for l.
Sundaily (Asia) 02/27/2020 02:14
HONG KONG/LONDON: Standard Chartered booked a robust 46% jump in annual profit but warned a key earnings target would take longer to meet as the coronavirus epidemic adds to headwinds in its main markets of China and Hong Kong. The epidemic could lead to a rise in bad loans, it said but did not provide specific guidance on the potential impact.
Sundaily (Asia) 02/27/2020 02:05
PETALING JAYA: Datasonic Group Bhd, which was queried by Bursa Malaysia yesterday over a sharp fall in its share price, saw its net profit for the third quarter ended Dec 31, 2019 double to RM20.18 million from RM9 million a year ago, thanks to higher revenue from the supply of smart cards, passports and provision of personalisation services, as well as lower finance costs. Revenue jumped 32.1% to RM74.97 million from RM56.76 million.
Sundaily (Asia) 02/27/2020 01:41
KUALA LUMPUR: The minority shareholders of TA Global Bhd have expressed their dissatisfaction over the conditional general offer to delist the property firm at 28 sen per share. Over 20 investors and remisiers were present at the TA Global’s “Privatisation”: Implication to Minority Shareholders forum organised by the Minority Shareholders Watch Group (MSWG) today. One investor opined that the 28 sen offer price is a slap in the face of minority investors as it does not reflect the value of the shares. According to MSWG’s calculation, it represents a 74.5% or 82 sen discount on the counter’s revised net asset value of RM1.10 per share. Apart from the cash offer, TA Global shareholders can opt for the share swap option based on an exchange rat.
Sundaily (Asia) 02/27/2020 00:54
PETALING JAYA: Malayan Banking Bhd posted a net profit of RM2.45 billion for the fourth quarter ended Dec 31, 2019, a 5.3% increase from RM2.33 billion recorded in the previous corresponding quarter, boosted by robust performances of its community financial services, Islamic banking and insurance & takaful segments. This also came on the back of a net gain in investment income of RM185.5 million for the quarter, as compared to a net loss in investment income of RM352.6 million in Q4 18. Revenue rose 6.1% to RM12.98 billion, from RM12.23 billion. The group has proposed a final dividend of 39 sen per share, which together with the interim dividend of 25 sen per share, takes the full-year dividend to 64 sen per share. This translates into a fu.
Sundaily (Asia) 02/27/2020 00:50
PETALING JAYA: AMMB Holdings Bhd reported a 9.2% increase in net profit to RM382.15 million for the third quarter ended December 31, 2019 against RM349.88 million in the same quarter a year ago, underpinned by higher net interest income and other operating income. Its revenue came in at RM2.37 billion, 3% higher than RM2.3 billion previously. For the nine-month period, AMMB’s net profit also expanded 4.5% to RM1.09 billion from RM1.05 billion a year ago, with revenue rising 4.8% to RM7.11 billion from RM6.79 billion. AMMB said in a filing with the stock exchange that its nine-month total income soared 9.1% to RM3.24 billion, driven by a 6.1% growth in net interest income and net interest margin of 1.93%. Non-interest income also went up 14.
Sundaily (Asia) 02/27/2020 00:11
PETALING JAYA : The general insurance industry registered a decline of 0.8% in 2019 with total gross direct premiums of RM17.41 billion, according to the General Insurance Association of Malaysia (PIAM), as it anticipates the general insurance industry will continue to stagnate for 2020. Motor remained the largest class with a market share of 48.3% in 2019, followed by fire at 19.3%. Motor insurance recorded gross direct premiums of RM8.42 billion with a drop of 0.4%.
Sundaily (Asia) 02/26/2020 23:06
KUALA LUMPUR : The 103 Malaysian exporters that participated in the food and beverage (F&B) trade fair, Gulfood in Dubai recently, generated RM566 million in sales throughout the event held from Feb 16-20. The Malaysia External Trade Development Corporation (MATRADE) in a statement today said throughout the five-day exhibition, Malaysian companies show cased a variety of F&B including coffee, tea & cocoa, ‘ready-to-eat’ meals, beverages, cooking oil, frozen food, sauce & paste, ingredients, and functional foods. Malaysian brands, it said were exposed to over 80,000 trade visitors from around 150 countries. Other government agencies that also coordinated the Malaysia Pavilion were Malaysian Palm Oil Council (MPOC), Federal Agricultural Marke.
Sundaily (Asia) 02/26/2020 22:27
PETALING JAYA: Datasonic Group Bhd’s share price jumped as high 17 sen or 16.35% to RM1.21 this morning on bargain hunting after it responded to an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd yesterday. Datasonic, whose trading was halted for an hour this morning, surged 10.58% to RM1.15 at 10.54am on 57.18 million shares done. The company said it is not aware of any corporate development or any change that may account for the sudden sharp fall in the company’s share price. "We are not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity.
Sundaily (Asia) 02/26/2020 21:07
SINGAPORE : Oil and Asian share markets slipped on Thursday, struggling to find a footing as the rapid global spread of the coronavirus left investors on edge and seeking safety in gold and bonds. Most new virus cases are now being reported outside China - the origin of the outbreak - with South Korea, Italy and Iran emerging as new epicentres. Brazil reported its first infection overnight and U.S. health authorities have said a global pandemic is likely. President Donald Trump, who played down the risks - comparing the new virus to the flu - appeared to offer little support to markets focused on news of the pathogen’s spread. U.S. stock futures fell as far as 1% as he spoke. MSCI’s broadest index of Asia-Pacific shares outside Japan traded.
Sundaily (Asia) 02/26/2020 20:55
KUALA LUMPUR : The ringgit opened higher today against the US dollar on better demand due to investors’ improved risk appetite ahead of the announcement of the government’s economic stimulus package later today. At 9 am, the local note appreciated 100 basis points to 4.2130/2200 against the greenback from 4.2230/2280 on Wednesday. The initiative aimed to stimulate Malaysia’s economy and mitigate any adverse repercussions arising from the COVID-19 outbreak and other external uncertainties. It will be announced by the interim Prime Minister, Tun Dr Mahathir Mohamad. “This (stimulus package) announcement would help restore investors’ confidence in the market, which has been under pressure recently due to uncertainties in the local political la.
Sundaily (Asia) 02/26/2020 20:53
KUALA LUMPUR : Shares on Bursa Malaysia opened on a higher note today on buying interest in key index stocks backed by positive push of the economic stimulus package to be unveiled later today. As at 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.94 points higher to 1,498.13 compared with yesterday’s close of 1495,19. The market opened 1.54 points higher at 1,496.73. On the broader market, losers slightly overtook gainers 161 to 153 with 138 counters unchanged, 1,589 untraded and 70 others suspended. Turnover amounted to 201.55 million shares worth RM65.81 million. The physical price of gold as at 9,30am stood at RM216.28 per gramme, down 65 sen from RM216.93 at 5pm yesterday.
Sundaily (Asia) 02/26/2020 08:15
PETALING JAYA:. National oil and gas company Petroliam Nasional Bhd (Petronas) reported lower earnings for the fourth quarter ended Dec 31, 2019 (Q4’19) of RM4.1 billion, a 71% drop from RM14.3 billion in Q4’18, due primarily to an impairment of assets and lower revenue. During the group’s financial performance briefing yesterday, Petronas president and group CEO Tan Sri Zulkiflee Wan Ariffin said excluding the impairment charges, the group’s net profit stood at RM9.2 billion, a 14% reduction from Q4’18. Revenue for the quarter was RM64 billion, 8% lower than RM69.9 billion at the same time last year on lower average realised prices for major products. For the full year, its net profit was RM40.5 billion, 27% lower than the RM55.3 billion in.
Sundaily (Asia) 02/26/2020 08:07
PETALING JAYA:. Berjaya Corp Bhd (BCorp) registered a revenue of RM2.08 billion in the second quarter ended Dec 31, 2019, substantially contributed by the gaming business segment operated by Sports Toto Malaysia Sdn Bhd from its strong 4D Jackpot sales, and the motor distribution business segment operated by HR Owen Plc. The group reported a pre-tax loss of RM61.66 million in the current quarter under review mainly due to operating expenses incurred by the overseas and local property projects, further impairment on the balance of Berjaya (China) Great Mall Co Ltd (GMOC) sales proceeds in anticipation of the delay in the recovery proceedings, and also impairment of certain property, plant and equipment. The group, however, reported a profit f.
Sundaily (Asia) 02/26/2020 08:03
PETALING JAYA:. As the local bourse has slipped into bear market territory after the recent selloff, MIDF Research cautioned that it could propagate a rise in “stale bulls”, which will negatively impact the short- to medium-term price momentum of the equity market, said MIDF Research. The term “stale bulls” refers to investors who bought shares with hopes that their prices would rise and now find that they have not risen and want to sell them. “Hence the main consequence of entering the bear territory is principally on the short- to medium-term market valuation as burgeoning stale bulls may generate upper resistance in subsequent cyclic upturns,” the research house said in a report today. A bull market ends when its price falls more than 20%
Sundaily (Asia) 02/26/2020 08:01
PETALING JAYA:. The Covid-19 outbreak is estimated to shave 0.3% and 0.5% off Malaysia’s gross domestic product (GDP) in 2020, according to RAM Ratings. This is based on the assumption of a six and nine months of depressed private consumption, trade and supply chain disruptions. The rating agency said the outbreak will have an immediate impact within discretionary services and industries such as domestic tourism, retail and food and beverage.
Sundaily (Asia) 02/26/2020 05:47
KUALA LUMPUR : The ringgit snapped its seven-day losing streak against the US dollar today, lifted by improved investors’ risk appetite ahead of the government’s Economic Stimulus Package announcement tomorrow. At 6pm, the local note appreciated to 4.2230/2280 against the greenback from 4.2310/2350 on Tuesday. In a tweet, the interim Prime Minister Tun Dr Mahathir Mohamad said he attended a meeting with the Finance Ministry’s top officials in regards to the tabling of the economic package. The initiative aimed to stimulate Malaysia’s economy and mitigate any adverse repercussions arising from the Covid-19 outbreak and other external uncertainties. “This (stimulus package) announcement would help restore investors’ confidence in the market,
Sundaily (Asia) 02/26/2020 05:04
KUALA LUMPUR : Bursa Malaysia ended in the red amidst a choppy trading day today, as the key FTSE Bursa Malaysia KLCI (FBM KLCI) was dragged down by Petronas Chemicals (PChem) due to its weaker earnings performance announced earlier today. At the close, the index declined 5.69 points to 1,495.19 compared with yesterday’s close of 1,500.88. Throughout the day, the FBM KLCI moved between 1,485.24 to 1,508.53. On the broader market, losers trounced gainers 538 to 350, while 393 counters were unchanged, 720 untraded and 25 others suspended. Turnover rose to 3.86 billion shares worth RM3.07 billion compared with 3.10 billion shares worth RM2.75 billion yesterday. PChem which announced its financial results today saw its net profit for the financ.

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