business conditions

 
 

As headwinds grow, Singapore fresh grads adjust job expectations, embrace short-term contracts

SINGAPORE, June 16 — When Halida Thanveer Asana Marican started hunting for a job last December, she sent out only one or two applications. But when she did not get any replies, the final-year student at the National University of Singapore (NUS)…


Fed: US economy sees ‘slight’ gains; some slowing in manufacturing

NEW YORK, June 6 — The US economy has continued to grow modestly but the manufacturing sector is seeing some signs of a slowdown and farms face harder times, the Federal Reserve reported yesterday. In its regular survey of business conditions…


US consumer confidence hits six-month high in May

WASHINGTON, May 28 — US consumers were in an increasingly rosy mood in May, driving an index of consumer confidence to a six-month high as the jobs market remained robust, survey results showed. The increase should support consumer spending in the…


Boustead Heavy in the red in Q1

KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC) saw a net loss of RM4.3 million in the first quarter ended March 31, 2019 (Q1’19) from a net profit of RM4.5 million a year ago mainly due to lower defence-related and commercial-based maintenance, repair and overhaul activities, negative contribution from the associates and lower negative contribution from the energy segment.

The group’s revenue fell 8.6% to RM36.3 million for the period under review compared with RM39.72 million reported in the same corresponding quarter last year.

BHIC chairman Tan Sri Ahmad Ramli Mohd Nor said while it expected the tough business conditions it faced in 2018 to spill over into the early part of 2019, BHIC remains cautiously optimistic that it can weather the challenges and turn the corner this year particularly given its improved performance in Q1’19.

Moving forward, he added that BHIC is on course to expand its customer base and pursue opportunities with other government agencies.


Boustead Heavy in the red in Q1

KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC) saw a net loss of RM4.3 million in the first quarter ended March 31, 2019 (Q1’19) from a net profit of RM4.5 million a year ago mainly due to lower defence-related and commercial-based maintenance, repair and overhaul activities, negative contribution from the associates and lower negative contribution from the energy segment.

The group’s revenue fell 8.6% to RM36.3 million for the period under review compared with RM39.72 million reported in the same corresponding quarter last year.

BHIC chairman Tan Sri Ahmad Ramli Mohd Nor said while it expected the tough business conditions it faced in 2018 to spill over into the early part of 2019, BHIC remains cautiously optimistic that it can weather the challenges and turn the corner this year particularly given its improved performance in Q1’19.

Moving forward, he added that BHIC is on course to expand its customer base and pursue opportunities with other government agencies.


Uber ends below $45 IPO price, washing out in market debut

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Uber (UBER) officially began trading Friday on the New York Stock Exchange, but stumbled out of the gate as its stock settled below its $45 initial public offering price. In Uber’s first test of whether it can transition from Silicon Valley unicorn to a publicly traded company while winning over a skeptical, volatile market, the stock — which priced at $45 on Thursday — gradually drifted lower from the $46-$48 indicated range prior the open. In its first trade, Uber hit the market at $42 per share on the New York Stock Exchange (NYSE),Read More


China factory activity softens despite stimulus

BEIJING, May 1 — China’s factory activity softened in April, official data showed yesterday, in the latest sign that the world’s second-largest economy remains on uneven footing despite a raft of government stimulus measures. The Purchasing…


Malaysian small businesses big on growth, says CPA Australia

KUALA LUMPUR, April 23 — Malaysia's small business sector in 2018 experienced positive business conditions, as confidence in business and economic growth marks its highest point since 2012. This is among the findings of CPA Australia's 10th annual…


US services, private payrolls data highlight slowing economy

WASHINGTON, April 4 — US services sector activity hit a more than 19-month low in March and private payrolls grew less than expected, underscoring a loss of momentum in the economy that supports the Federal Reserve's move to suspend interest rate…


Businesses remain cautious in 2019

KUALA LUMPUR: As business conditions deteriorated in the second half of 2018 (2H18), the Malaysian Chinese business community turned cautious about the economic outlook in the first half of 2019 (1H19), but they expect conditions to likely improve in 2H19 relative to 1H19.

According to the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) Malaysia’s Business and Economic Conditions Survey Report for 2H18 and 1H19 forecast released today, 48% of respondents indicated that business conditions have deteriorated in 2H18. About 32.5% of respondents reported “satisfactory” business performance while 19.5% have expanded their business.

Faced with the softening of global growth, still considerable external headwinds amid weak domestic sentiment, businesses in Malaysia are generally cautious about the economic outlook in 1H19 with 50.2% of respondents being “neutral” and 37.5% pessimistic. Only 12.3% of total respondents were optimistic.

ACCCIM president Tan Sri Ter Leong Yap (pix) said on balance, businesses are of the view that the Malaysian economy would remain challenging in 2019 as there are higher percentage of respondents (32.6%) who are “pessimistic” relative to being “optimistic” (15.3%).

Businesses’ guardedness about economic conditions will likely to improve in 2H19 as lower percentage of respondents (29.6% in 2H19 vs 37.5% in 1H19) have pessimistic views while those with optimistic views improved to 17.8% from 12.3% in 1H19.

“The respondents are cautiously optimistic about the economy in 2020 (25.7% vs 15.3% in 2019) probably premised on a more stable domestic policy landscape as well as the expected improvement of the federal government’s fiscal balance sheet in 2020 after rationalisation and debt consolidation,” Ter said at the ACCCIM press conference today.

Of notable observation is that cash flows conditions are expected to remain tight as indicated by 46.3% of respondents in 1H19 (41.3% in 2H18) while the number of respondents indicated satisfactory dropped to 46.6% from 50% in 2H18. A higher percentage of businesses (44.6%) expect debtors’ conditions to worsen in 1H19 from 38.2% in 2H18.

By sector, manufacturing showed improvement in business prospects in 2H19 with a higher percentage of respondents (72.4%) indicating between neutral and optimistic outlook compared to 59.4% in 1H19.

The construction sector recorded the highest percentage of respondents (44.3% in 1H19 and 40.5% in 2H19) with pessimistic views about business conditions, inflicted largely by the review of several mega projects as well as the consolidation of residential and non-residential projects.

“The top five factors cited by companies influencing their business operations and domestic business conditions are competitive pressures in the domestic market; lower domestic demand; government policies; increase in prices of raw materials; and ringgit fluctuations,” said Ter.