Monday, August 29th, 2016

 

HLFG, FGV, Brahim’s, Sunway, CIMB Group, UMW Holdings, MyEG Services, Barakah, Melati Ehsan & IOI Properties

HLFG, FGV, Brahim's, Sunway, CIMB Group, UMW Holdings, MyEG Services, Barakah, Melati Ehsan & IOI Properties

KUALA LUMPUR (Aug 29): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Tuesday, Aug 30) could include: AirAsia Bhd, Hong Leong Financial Group Bhd (HLFG), Felda Global Ventures Holdings Bhd (FGV), Brahim’s Holdings Bhd, Sunway Bhd, CIMB Group Holdings Bhd, UMW Holdings Bhd, MyEG Services Bhd, Barakah Offshore Petroleum Bhd, Melati Ehsan Holdings Bhd and IOI Properties Group Bhd.

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Source: The Edge Markets


Singapore steps up Zika prevention effort as confirmed cases rise to 56

Singapore steps up Zika prevention effort as confirmed cases rise to 56

SINGAPORE (Aug 29): Singapore confirmed 15 new cases of locally-transmitted Zika infections on Monday, taking the tally to 56, as authorities step up efforts to contain the outbreak.

All the cases were in or near the Aljunied area in the southeast of the city-state, and most were foreign workers from a nearby construction site owned by GuocoLand, where testing for the virus is now complete, the health ministry said in a statement.

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Source: The Edge Markets


Wall Street rises as hawkish Fed boosts financial stocks

NEW YORK, Aug 29 — Wall Street rose this morning, helped by financial stocks that gained a day after Federal Reserve Chair Janet Yellen said the case for an interest rate hike had strengthened. Yellen, addressing a gathering of global central… Source: The Malay Mail Online


GuocoLand’s FY16 earnings more than double to S$608 mil on disposal gain

GuocoLand’s FY16 earnings more than double to S$608 mil on disposal gain

SINGAPORE (Aug 29): Developer GuocoLand more than doubled its FY16 earnings ended June to S$606.7 million, from S$226.4 million a year ago, on higher other income which increased by S$523.5 million, mainly due to a gain from the group’s disposal of subsidiaries relating to the Dongzhimen project.

Revenue dipped 9% to S$1.06 billion, from S$1.26 billion, mainly due to lower revenue recognised for Singapore and China. This was due to the absence of contribution from Goodwood Residence and Seasons Park, as these were substantially sold in the previous financial year.

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Source: The Edge Markets


Researchers find first U.S. bacteria with worrisome superbug genes

NEW YORK (Aug 29): New Jersey researchers said on Monday they had identified perhaps the first strain of E. Coli bacteria in the United States with mobile genes that make it resistant to two types of antibiotics now considered last-line defenses against superbugs.

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Source: The Edge Markets


DutaLand sinks into the red in FY16, plans par value reduction to pare loss

KUALA LUMPUR (Aug 29): Dutaland Bhd, which has swung into the red in its financial year ended June 30, 2016 (FY16), is proposing the reduction of its entire share premium account, and a par value reduction, to raise RM441.56 million to eliminate its accumulated losses.

Its accumulated losses at the company level amounted to RM385.33 million, and to RM45.74 million at the group level, as at June 30, 2016

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Source: The Edge Markets


Southeast Asia needs to up its game to combat Zika – experts

Southeast Asia needs to up its game to combat Zika - experts

BANGKOK/KUALA LUMPUR/JAKARTA/HANOI/PHNOM PENH/SYDNEY (Aug 29): The spread of the Zika virus across tropical Southeast Asia is likely to be significantly under-reported, as local health authorities fail to conduct adequate screening, regional experts said on Monday.

International travel hub Singapore confirmed 41 locally-transmitted cases of the mosquito-borne virus on Sunday, and said it anticipated more, raising fears about how quickly it could disperse throughout the region.

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Source: The Edge Markets


YTL’s takeover offer for YTL e-Solutions turns unconditional

YTL’s takeover offer for YTL e-Solutions turns unconditional

KUALA LUMPUR (Aug 29): YTL Corp Bhd’s takeover offer for YTL e-Solutions Bhd has turned unconditional today, after Bursa Malaysia granted several approvals to YTL Corp, which has secured a 75.71% stake in YTL e-Solutions.

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Source: The Edge Markets


Opus goodwill impairment drags UEM Edgenta into the red in 2Q

Opus goodwill impairment drags UEM Edgenta into the red in 2Q

KUALA LUMPUR (Aug 29): UEM Edgenta Bhd’s recognition of a RM64.38 million impairment loss on goodwill for its Canadian based subsidiary, Opus Stewart Weir Ltd, as well as an impairment on Opus’s Australian operations, has dragged the group into the red for the second quarter.

UEM Edgenta recorded a net loss of RM8.04 million or 0.97 per share for the quarter ended June 30, 2016 (2QFY16), compared with a net profit of RM58.85 million or 7.23 sen per share for 2QFY15.

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Source: The Edge Markets


AirAsia’s Q2 pre-tax profit jumps to RM253.81m

KUALA LUMPUR, Aug 29 — AirAsia Bhd, Asia’s biggest budget airline, chalked up a higher pre-tax profit of RM253.81 million for the second quarter ended June 30, 2016 from RM48.76 million in the same quarter last year. Revenue was RM1.62… Source: The Malay Mail Online