Tuesday, August 29th, 2017
BRUSSELS, Aug 29 — Google faces a deadline today to tell the European Union how it plans to comply with an order to stop discriminating against rival shopping search services under threat of new fines that would add to a record €2.4 billion…
PETALING JAYA: Telekom Malaysia Bhd’s (TM) net profit for the second quarter ended June 30, 2017 rose 50.94% to RM210.48 million from RM139.45 million a year ago, on a foreign exchange gain.
In a filing with Bursa Malaysia yesterday, the group reported a foreign exchange gain on its borrowings during the quarter compared with foreign exchange losses reported a year ago.
Revenue for the quarter fell 2.14% to RM2.98 billion from RM3.05 billion a year ago despite a continuing RM77.4 million or 8.6% increase in internet and multimedia revenue, due to lower revenue from data, voice, other telecommunication and non-telecommunication related services.
Internet and multimedia services registered higher revenue of RM982.3 million compared with RM904.9 million a year ago, due to increase in its UniFi customer base at more than one million customers compared with 900,245 a year ago.
The lower revenue led to operating profit before finance cost decreasing 7.8% to RM258.2 million from RM280.0 million a year ago.
For the six months ended June 30, 2017, net profit fell 4.54% to RM440.92 million from RM461.89 million a year ago while revenue rose marginally to RM5.94 billion from RM5.90 billion a year ago.
To date, TM has over 2.7 million high-speed broadband ports nationwide and its LTE coverage has expanded to more than 80% in major cities. It has 2.36 million broadband customers and 88% of its UniFi customers are on packages with speeds of 10Mbps and above, compared with 68% a year ago while webe’s penetration of TM’s household stood at 5.6%.
Total capital expenditure for the first six months amounted to RM899 million or 15.1% of revenue, as the group continued with its investments in high speed broadband, sub-urban broadband and mobility.
TM has declared an interim single-tier dividend of 9.4 sen per share or about RM353.2 million for the financial year ending Dec 31, 2017, payable on Oct 13, 2017.
Group CEO Datuk Seri Mohammed Shazalli Ramly said the group will focus on empowering digitisation in its daily operations to optimise processes and productivity.
“We are expediting our fibre rollout and expanding our reach with our ongoing investments, for example to high-rise buildings; and made some key execution leadership appointments to facilitate this, amongst others,” he said in a statement yesterday.
TM is also working towards liberating its WiFi Access Points and continues to strengthen its mobility presence with its continued expansion of LTE. On the business front, it is consolidating its managed accounts organisation into TM One.
LONDON, Aug 29 — World stock markets spiralled lower today after North Korea fired a ballistic missile over Japan, deepening geopolitical worries but sending the euro and gold hurtling higher. Pyongyang fired the missile over Japan and into…
PETALING JAYA: 7-Eleven Malaysia Holdings Bhd reported a 32.7% decline in net profit to RM10.15 million for the second quarter ended June 30, 2017 compared with RM15.07 million in the previous corresponding period, due to higher selling, distribution, administrative and other operating expenses.
However, revenue for the quarter under review expanded 9.8% from RM505.7 million to RM555.21 million, thanks to Hari Raya festive period and new store growth.
The group said in a filing with the stock exchange that it foresees the trading conditions for the remaining period of the current financial year to remain challenging.
“We expect to see continued improvements in the next two quarters by pursuing our core strategy pillars of operations excellence, cost management and commercial innovation,” it noted.
Acting CEO Ho Ming said 7-Eleven is confident that its strategic review of the business and the implementation of the “Back to Basics” program will strengthen and solidify 7-Eleven as the customer’s first choice of convenience store operators.
“This will be achieved via, the effective leveraging of our supply chain operations, and the sharpening of our offerings to our customers, with a key focus on fresh food and in-store services,” he added.
For the first half of the year, its net profit fell 41.4% from RM31 million to RM18.15 million. Revenue came in at RM1.08 billion, 4.4% higher than the RM1.03 billion it made in the same period a year ago.
7-Eleven shares rose one sen to close at RM1.39 today, with some 1.38 million shares changing hands. It has a market capitalisation of RM1.71 billion.
KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) subsidiary, Petronas LNG Ltd, will be supplying up to 700,000 tonnes of liquefied natural gas (LNG) annually for 15 years to South Korea-based S-Oil Corp.
Petronas LNG said in a statement it entered into the 15-year sale and purchase agreement today to deliver LNG to petroleum, petrochemical and lubricant products producer S-Oil beginning next year. The contract sum was not disclosed.
S-Oil will use the LNG from Petronas as fuel for its new plant operations and feedstock for hydrogen production.
“This SPA is testament to Petronas’ focus in building long-term relationships with committed partners. Petronas looks forward to create further value with S-Oil to ensure that we can deliver the most value-comprehensive solution. To date, we have delivered cargoes without fail and will continue to ensure security of supply and reliability to all of our buyers,” said Petronas LNG chairman Ahmad Adly Alias.
PETALING JAYA: Tropicana Corp Bhd's net profit soared 58.6% to RM52.85 million for the second quarter ended June 30, 2017 versus RM33.32 million in the same quarter a year ago, buoyed by higher contribution from its key projects across the Klang Valley and Northern region.
Revenue rose 24.1% from RM358.08 million to RM444.4 million.
The property developer has proposed an interim dividend of two sen per share for the quarter under review.
Its six-month net profit jumped 76.1% from RM48.49 million to RM85.37 million. Revenue came in at RM826.26 million, 28.1% higher than RM645.01 million in the previous corresponding period.
Tropicana told Bursa Malaysia that it achieved total new sales of RM508.6 million for the first half, with unbilled sales at RM2.1 billion as at June 30, 2017.
For FY2017, the group said it will continue to focus on being market driven and unlock the value of its strategic landbank located in the Klang Valley, Northern and Southern Regions.
“Despite the softening consumer outlook, the group believes there will be continued demand for its properties in prime locations given its accessibility, good amenities and attractive pricing,” it opined.
Tropicana shares fell one sen to 95 sen today, on some 129,100 shares done. It has a market capitalisation of RM1.39 billion.