Thursday, April 20th, 2017


Carlsberg confident of growth despite soft consumer sentiments

PETALING JAYA: Carlsberg Brewery Malaysia Bhd believes there are still growth prospects despite softer consumer sentiments in Malaysia and Singapore.

Its Managing Director, Lars Lehmann, expects the market to be flat in terms of volume but believes that it's revenue generators which is its premium range and Carlsberg Smooth Draught, in the mainstream range, will bolster growth in terms of revenue.

Carlsberg's Sri Lankan unit, Lion Brewery (Ceylon) PLC, which has not been in operations for several months due to floods, is on the road to recovery and is expected to be back on its feet and profitable in the second quarter of this year.

It registered a net profit of RM204.98 million for the financial year ended Dec 31, 2016, on RM1.68 billion revenue.

AirAsia acquires a 50% stake in online travel planner Touristly

Low cost carrier AirAsia Bhd has acquired a 50% stake in online travel planner Touristly Travel Sdn Bhd (Touristly) through an asset injection and loan deal valued at RM11.5 million. The transaction will see AirAsia Berhad inject the digital platform of its Travel 3Sixty inflight magazine, valued at RM6.5 million, into Touristly via AirAsia Investments Ltd and extend a RM5 million convertible loan to Touristly for working capital and development. The digital platform comprises the online brand for the Travel 3Sixty inflight magazine, touchpoints on and online advertising assets,Read More

Sky TV profits drop on rising Premier League costs

LONDON, April 20 ― European pay-TV giant Sky, set for a takeover by 21st Century Fox, announced today a drop in profits, hit by the rising cost of showing live English Premier League football. A fall in operating profits for the first nine…

Japan raises business sentiment assessment in April

TOKYO, April 20 ― Japan’s government raised its assessment of business sentiment in April, the first upgrade in four months, after the Bank of Japan’s tankan survey showed this month that the corporate mood brightened. However, the…

Saudi Arabia, Kuwait signal likely extension of oil supply cuts

ABU DHABI, April 20 ― Leading Gulf oil producers Saudi Arabia and Kuwait gave the clearest signal yet that Opec plans to extend into the second half of the year a deal with non-Opec producers to curb oil supplies. Consensus is growing among…

MISC working on FPSO deals to up offshore biz contribution

KUALA LUMPUR: MISC Bhd is working on three to four floating, production, storage and offloading (FPSO) deals that can potentially push its offshore business contribution to make up a third of its profits, from 20% in 2016.

President and group CEO Yee Yang Chien said these deals, including acquisitions and submission of bids, are both in the global and Asian region.

“We're hoping that one or two can materialise this year,” he told a press conference after its AGM here today.

Yee explained that profit from the offshore business can increase to one third if the three to four FPSO deals can be secured, and assuming its other segments like LNG shipping as well as petroleum and product shipping do not grow.

Bursa Malaysia extends gains at mid-afternoon

KUALA LUMPUR, April 20 — Bursa Malaysia extended earlier gains at mid-afternoon today, supported by persistent buying momentum in the selected index-linked counters. At 3.08pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at…

Unilever reports rising sales and boosts dividend

THE HAGUE, April 20 — Anglo-Dutch food and consumer products giant Unilever today reported rising sales and boosted its shareholder dividend in its first earnings update since seeing off a bid attempt by Kraft Heinz. Sales rose 6.1 per cent in…

Oil prices claw back losses, but oversupply still weighs

SINGAPORE, April 20 ― Oil prices regained some ground today after steep losses the previous day, as Kuwait said it expected an Opec-led effort to cut supplies would be extended beyond the middle of the year. Brent crude futures were at…

Nestle sales go flat in first quarter

ZURICH, April 20 — Swiss food and drink giant today reported anaemic sales growth as Asian market strength was offset by weak consumer spending in the Americas. First quarter sales rose 0.4 per cent to 21 billion Swiss francs (RM92.72…