Friday, April 27th, 2018
KUALA LUMPUR (April 27): Globetronics Technology Bhd and KESM Industries Bhd shares advanced today among Bursa Malaysia top gainers following US technology stocks’ overnight rise on Thursday. At 4:17pm today, Globetronics gained 30 sen to RM4.23 while KESM was up 28 sen at RM16.02. Reuters reported that US stocks advanced on Thursday with each of Wall Street’s major indexes ending the session up 1% or higher, boosted by solid earnings results and a rebound in technology stocks as US bond yields pulled back. It was reported that the tech-heavy Nasdaq snappedRead More
KUALA LUMPUR, April 27 — AirAsia Group Bhd recorded a load factor of 87 per cent for the first quarter ended March 31, 2018 (Q1 2018), down two percentage points from the same period last year. In a statement on its operating statistics released…
TOKYO, April 27 — Sony today reported profits worth US$4.5 billion (RM17.6 billion), extending a roaring recovery supported by better sales almost across the board, including with box office blockbusters like its Jumanji reboot. The results…
KUALA LUMPUR, April 27 — Bursa Malaysia remained higher at mid-afternoon, lifted by buying in heavyweight stocks led by the finance sector, dealers said. At 3.00pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 10.49 points better at 1,862.76 after…
QINGDAO, China (April 27): When Dalian Wanda, the Chinese conglomerate, announced in 2013 that it would build an $8 billion film studio in China to lure U.S. film producers, it did so with Hollywood flash. Stars like Nicole Kidman and John Travolta were on hand as the company’s chairman, Wang Jianlin, boldly announced that the new studio in the east coast city of Qingdao would help make China a “global cultural powerhouse”. Five years later, the Oriental Movie Metropolis is set to open its doors but the mutual courtship between ChinaRead More
KUALA LUMPUR: MISC Bhd, which is looking to deploy some US$4 billion (RM15.7 billion) in capital expenditure (capex) in the next five years, sees liquefied natural gas (LNG) and offshore as the key divisions to maintain its profit levels this year.
“The profit performance for 2018 will come mainly from the LNG division and offshore business because all our contracts are locked up,” said the group's president and CEO Yee Yang Chien at its AGM here today.
For the financial year ended December 31, 2017, MISC saw its operating profit jump to RM2.73 billion from RM2.23 billion reported in the previous year.
Given the recovery in crude oil prices,Yee also sees good investment opportunities in the floating, production, storage and offloading (FPSO) and shuttle tankers segments, evidenced by more job opportunities in the first quarter of 2018 as well as the whole of 2017.
MISC Bhd is involved in LNG shipping , petroleum and product shipping, marine and heavy engineering and offshore businesses, among others.
Last month, it was reported that MISC came under the radar of the Malaysian Anti-Corruption Commission (MACC) following the RM109 million corruption allegation involving some of its officers.
MISC chairman Datuk Ab Halim Mohyiddin said that the group is unable to comment on the status of the probe as investigations are still going on, but reiterated that the group has co-operated with the anti-graft body with zero tolerance against any forms of bribery and corruption.
At 3.30pm, the stock gained 11 sen or 1.6% to RM7.12 on some 959,500 shares done.
SINGAPORE/HONG KONG (April 27): Asia’s most externally vulnerable economies — India, Indonesia and the Philippines — have just taken a one-two punch. US 10-year Treasury bond yields hit 3% this week, a level long touted as one to watch for potential portfolio outflows from the region, where interest rates have barely shifted since the US Federal Reserve began slowing hiking policy rates in late 2015. An even bigger worry is that oil prices hit 3½-year highs: not only do these countries run the biggest current account deficits of Asia’s majorRead More