kuala lumpur


Sime Darby Plantation considers exiting West Africa operations

KUALA LUMPUR: Sime Darby Plantation, the world’s biggest oil palm planter by land holdings, is considering exiting its palm and rubber operations in the West African nation of Liberia, industry sources said. The potential move comes as the Malaysian company’s return on investment in Liberia has been lower than expected due to disappointing planting activity […]

Fitch affirms Malaysia’s rating at ‘A-’, outlook stable

KUALA LUMPUR: Fitch Ratings has affirmed Malaysia’s long-term foreign-currency issuer default rating (IDR) at ‘A-’ with a stable outlook. The ‘A-’ rating reflects higher growth rates than the peer median and a net external creditor position which is supported by steady current account surpluses and large external assets. However, the rating is constrained by high […]

FBM KLCI likely to hit 1,760 pts this year

PETALING JAYA: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to hit 1,760 points this year due to a reversal in the foreign funds outflow on the back of positive external developments, coupled with a cheaper ringgit and better corporate earnings growth, said Rakuten Trade Sdn Bhd. Head of research Kenny Yee said […]

Axiata Digital expects financial services to turn profitable by 2021

KUALA LUMPUR, Feb 22 — Axiata Digital Services Sdn Bhd, a subsidiary of Axiata Group Bhd, expects its financial services business to turn profitable by 2021. Chief executive officer Mohd Khairil Abdullah said the projection is based on the growing…

WCT executes three LRT3 novation agreements with Prasarana, MRCB George Kent

KUALA LUMPUR, Feb 22 — WCT Holdings Bhd’s wholly-owned subisidary, WCT Bhd (WCTB) today executed three separate Novation Agreements with Prasarana Malaysia Bhd and MRCB George Kent Sdn Bhd under the Light Rail Transit 3 (LRT3) project packages….

Tune Protect’s profit rises on lower claims incurred

KUALA LUMPUR, Feb 22 — Tune Protect Group Bhd’s net profit rose 6.5 per cent to RM49.31 million in the financial year ended Dec 31, 2018 (FY18) largely due to a RM39.73 million drop in net claims incurred. The digital insurer achieved the…

Axiata allocates RM6.8b for capex this year

KUALA LUMPUR, Feb 22 — Axiata Group Bhd is allocating RM6.8 billion in capital expenditure (capex), mainly to modernise the group’s network and towers expansion. President and group chief executive officer Tan Sri Jamaludin Ibrahim said about…

E&O posts net loss of RM8.8m in 3Q18

KUALA LUMPUR, Feb 22 — Eastern and Oriental Bhd posted a net loss of RM8.80 million for the third quarter ended December 31, 2018 from a net profit of RM21.98 million in the same period the previous year. Revenue fell to RM256.95 million versus…

Malaysia sustains labour productivity growth in Q4

KUALA LUMPUR, Feb 22 — Malaysia’s labour productivity sustained its positive growth trend in the fourth quarter (Q4) of 2018, with productivity measured by value added per hour worked expanding 2.7 per cent. This resulted from a 4.7 per cent…

Axiata’s FY18 results dampened by dilution of India’s investment, write-off

KUALA LUMPUR, Feb 22 — Axiata Group Bhd swung to a net loss of RM5.03 billion in the 2018 financial year (FY18) from a net profit of RM909.48 million in the previous year due to dilution of its investment in India and asset write-off that ran into…