DRB-Hicom Bhd requested yesterday to suspend the trading of its shares today, pending the release of a material announcement, whichRead More
DRB-HICOM : Major Announcement at 12PM Today
PETALING JAYA: Pos Malaysia Bhd’s net profit fell 25.9% to RM10.64 million for the fourth quarter ended March 31, 2017 against RM14.35 million in the previous corresponding period, due to higher cost of sales and operating expenses as well as finance cost.
Revenue for the quarter under review, however, soared 46.6% from RM433.64 million to RM635.55 million.
Pos Malaysia said in a filing with the stock exchange that it expects the group’s prospects to remain positive in the near to medium term, with continued growth in e-commerce, domestic and regional remained as one of the key growth drivers for it.
“Favourable demographics, competitive pricing and increased reliability of the fulfilment functions by the marketplace platforms are expected to spur the increase in online purchases, especially consumer goods, in Malaysia and the region,” it opined.
Pos Malaysia’s full-year net profit rose 33.2% from RM63.09 million to RM84.06 million on the back of a 21.2% rise in revenue from RM1.72 billion to RM2.08 billion.
Pos Malaysia’s fourth quarter earnings 25.9% lower
Market Preview : KLCI [24.5.2017]
The FBM KLCI is expected to trade range-bound today, with support seen at 1,762 points, in line with the overnight gains at Wall Street and euro zone markets. Based on corporate announcements and news flow yesterday, stocks in focus today may include: 1. DRB-Hicom Bhd said trading in its securities will be suspended effective 9am tomorrow (May 24), pending an announcement. Accordingly, all structured warrants related to the group will also be suspended at the same time. 2. Samchem Holdings Bhd today revealed the seven shareholders seeking to remove executive director (ED) Ng Soh Kian from his post. 3. OrientalRead More
Repsol’s Bunga Pakma, Kinabalu projects on track
KUCHING: Repsol Oil and Gas Malaysia Ltd’s (Repsol) Bunga Pakma development and Kinabalu redevelopment offshore oil platform projects are on track for their transportation and installation (T&I) phases. The two projects are within the last legs of their Engineering, Procurement and Construction (EPC) phases which are carried out by OceanMight Sdn Bhd (OMSB), an affiliate […]
Iraq paves way for Opec deal with support for nine more months
KUALA LUMPUR, May 23 — Iraq backed a proposal from Saudi Arabia and Russia to extend output cuts for nine months, removing one of the last remaining obstacles to an agreement at the Opec meeting in Vienna this week. Opec’s second-largest…
Matrix Concepts proposes RM250m sukuk programme
PETALING JAYA: Matrix Concepts Holdings Bhd yesterday lodged with the Securities Commission Malaysia its proposed issuance of Islamic commercial papers and medium-term notes to establish a RM250 million sukuk wakalah programme.
The sukuk wakalah will have a tenure of seven years and the first issuance will be made within 60 business days from the lodgement date. It will be unrated and is structured based on the syariah principle of Wakalah Bi Al-Istithmar.
Proceeds raised from the issuance of sukuk wakalah under the programme may be used by the company for, among others, syariah-compliant purposes to finance future investments; to finance working capital requirements, capital expenditure, and other general corporate purposes; and to defray expenses in relation to the programme.
Maybank Investment Bank Bhd is the sole principal adviser, lead arranger, and lead manager for the sukuk wakalah programme.