The third quarter of this year has been a disappointing period for Corporate Malaysia as results came in below expectations and analysts believing that the profit trend would unlikely get better anytime soon. Analysts said the lacklustre corporate third quarter among Bursa Malaysia-listed companies would likely extend into the last three months of the year […]
TOKYO, Dec 12 — The dollar held near a one-month high against its peers today, supported by a rebound in US yields and weakness of the pound as its battering from uncertainty about Brexit continued. The greenback was lifted as long-term US…
MUMBAI, Dec 11 — Reserve Bank of India (RBI) Governor Urjit Patel’s shock resignation following a policy tussle with the government sent tremors through financial markets today, and investors are keen to see the government quickly name a…
TOKYO, Dec 10 — The dollar slipped against the yen and the euro today after soft US payrolls data fuelled speculation that the Federal Reserve may stop raising interest rates sooner than previously expected. The British pound also was on the…
KUCHING: Analysts are still favouring players operating within the brownfield space despite the oil and gas sector’s (O&G) third quarter of current year 2018 (3QCY18) disappointing results. The research arm of Kenanga Investment Bank Bhd (Kenanga Research) deemed the recently concluded 3QCY18 round of corporate results to be underwhelming. “While majority of the counters within […]
PETALING JAYA: Astro Malaysia Holdings Bhd’s net profit for the third quarter ended Oct 31 rose 4.45% to RM153.22 million from RM146.68 million a year ago due to lower content costs, licence, copyright and loyalty fees and impairment of receivables.
However, it was offset by higher net finance costs due to unfavourable unrealised forex movement arising from unhedged finance lease liabilities and vendor financing, and increase in interest expenses from borrowings, according to its filing with Bursa Malaysia.
Revenue for the quarter fell marginally to RM1.38 billion from RM1.40 billion a year ago due to lower subscription revenue as a result of lower package take-up, offset by higher merchandise sales and advertising revenue.
The increase in merchandise sales was due to increase in number of products sold, driven by the tactical campaigns executed during the quarter while the increase in advertising revenue was due to advertising spend on telcos and new device launches.
Astro has declared a third interim single-tier dividend of 2.5 sen per share in respect of the financial year ending Jan 31, 2019 amounting to about RM130.36 million, to be paid on Jan 4, 2019.
The television division’s earnings before interest, taxes, depreciation and amortisation (ebitda) grew 15.3% while revenue fell 2.4% year-on-year. The radio division’s ebitda and revenue fell by 8.2% and 11.1% respectively. For the home-shopping division, ebitda improved by RM2.6 million while revenue rose 35.1%.
For the nine months ended Oct 31, Astro’s net profit fell 41.49% to RM344.52 million from RM588.85 million a year ago, while revenue fell marginally to RM4.11 billion from RM4.14 billion a year ago.
“Overall, we’ve had a decent quarter predicated on our strong market reach which has grown 6% year-on-year to 5.7 million customers, or 76% of Malaysian households, enabling better monetisation across our verticals of pay, prepaid, adex (advertising expenditure) and eCommerce,” said CEO designate Henry Tan.
Moving forward, he said the group is implementing a strategic review of its business and organisational structure in view of the challenges. The review includes deeper cost rationalisation and workforce optimisation, which will incur one-off costs in the coming months.
“This exercise will enable us to remain competitive, efficient and agile so we can pursue opportunities in key growth areas such as broadband, membership and rewards, production of premium content, adex and eCommerce,” he added.
TOKYO, Nov 29 — Asian stocks rose on today tracking a Wall Street rally as dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards riskier assets. The US dollar sagged against its peers on Powell's comments,…
PETALING JAYA: IHH Healthcare Bhd fell into the red in the third quarter ended Sept 30, with a net loss of RM104.1 million against a net profit of RM82.1 million in the same quarter last year, on lower foreign exchange gains with the strengthening of the ringgit and depreciation of some of its functional currencies.
Revenue for the quarter under review inched slightly up to RM2.84 billion from RM2.80 billion sustained by organic growth at existing operations and contribution from the Gleneagles Hong Kong Hospital and the Acibadem Altunizade Hospital, both of which opened in March 2017, the company said in a statement today.
“As long-term healthcare providers, we focus on delivering strong operational performance, which we continue to do in all our markets. We are encouraged by the operational resilience of our business, even when our net profit was affected by the forex volatility in Turkey,” said IHH Managing Director and CEO, Dr Tan See Leng said in a separate statement.
“As we optimise existing operations, we continue to position the group for growth. In India, we are excited to officially welcome Fortis Healthcare to the IHH family. Our immediate priority is to stabilise operations, improve operational metrics and ramp up performance to realise this transformational opportunity for the group. We are confident that we have put the blocks in place to ensure IHH balances current returns with a long growth runway,” he added.
For the cumulative nine-month period, the group’s net profit plunged 86.38% to RM118.30 million from RM868.70 million in the same period last year. Revenue increased to RM8.40 billion from RM8.30 billion.
KUALA LUMPUR, Nov 27 — TIME dotCom Bhd’s net profit soared to RM79.98 million in the third quarter (Q3) ended Sept 30, 2018, from RM28.23 million in the year-ago period as it boosted its revenue on improved cost efficiencies and made a net gain…
KUALA LUMPUR, Nov 23 — Axiata Group Bhd’s net profit fell to RM132.07 million for the third quarter ended Sept 30, 2018 from RM238.53 million recorded in the same period last year. Revenue also declined to RM6 billion from RM6.2…