market share

 
 

Auto sales hit second highest in history in zero-GST period

KUCHING: Analysts are optimistic on sales of cars as total industry volume (TIV) in July 2018 accelerated to 68,000 units – its second highest monthly volume in the history of Malaysia. Affin Hwang Investment Bank Bhd (AffinHwang Capital) saw that demand for local cars last month remained strong. “Riding on the joyful tax holiday promotions, […]


Proton, Geely sign JV agreement to set up facilities in China

KUALA LUMPUR, Aug 18 — Proton Holdings Bhd and Zhejiang Geely Holding Group today signed a Heads of Agreement to set up a joint venture that will pave the way for Proton to assemble and market their cars in China. Both companies will take up equal…


Air France-KLM names Air Canada’s Smith CEO amid labour clash

PARIS, Aug 17 — Air France-KLM named Air Canada’s Ben Smith as chief executive officer, casting aside union objections to entrust a foreigner with turning around Europe’s biggest carrier by passenger traffic. The new CEO will take the reins by…


Room for improvement at S’pore unit: Carlsberg

SHAH ALAM: Carlsberg Malaysia Bhd, which foresees lower consumer spending in the second half of the year post the implementation of the sales and services tax (SST), says there is still room for improvement for the performance of its Singaporean subsidiary.

Speaking at a media and analyst briefing yesterday, Carlsberg Malaysia managing director Lars Lehmann said the degree of impact from the SST will depend on the tax rate.

The brewer could take a beating if the tax rate is high and the threshold for sales outlets subjected to the tax is set at RM1 million.
However, the impact is expected to be subdued if the tax rate is low and the tax threshold is RM3 million.

Under the older SST tax regime the sales tax was 5%. The tax expense will be fully passed on to customer and could possibly lead to an increase in prices.

Lehmann said Carlsberg has also seen an improvement in sales during the three month tax holiday period.

For the second quarter ended June 30, the group’s net profit rose 4.9% to RM63.91 million from RM60.29 million last year on the back of higher profit contribution from its Malaysian operations and higher share of profit in its Sri Lankan associate company Lion Brewery (Ceylon) PLC, which mitigated the lower profit from its Singapore operations.

Revenue for the period grew 0.8% to RM415.45 million from RM412.14 million.

For the cumulative period, it’s net profit rose 12.79% to RM144.73 million from RM128.31 million.

Meanwhile, revenue for the six month period increased by 5.37% to RM963.92 million from RM914.77 million due to double digit growth across most product segments.

The lower contribution from Singapore was due to the appreciation of the ringgit against the Singapore dollar, lower sales and positive one-off trade discounts adjustment.

While the product offering is the same in Singapore, Lehmann said Carlsberg will have to step up the sales of its premium brands and smooth variant in Singapore despite gaining market share in the country in the first half of the year.

Moving forward, Carlsberg Malaysia will also be increasing its advertising and promotional spending to the higher single digits.
It is also hopeful that the government will not increase the excise duty in the upcoming budget announcement.


Room for improvement at Singapore unit: Carlsberg

SHAH ALAM: Carlsberg Malaysia Bhd, which foresees lower consumer spending in the second half of the year post the implementation of the sales and services tax (SST), says there is still room for improvement for the performance of its Singaporean subsidiary.

Speaking at a media and analyst briefing today, Carlsberg Malaysia managing director Lars Lehmann said the degree of impact from the SST will depend on the tax rate.

The brewer could take a beating if the tax rate is high and the threshold for sales outlets subjected to the tax is set at RM1 million.

However, the impact is expected to be subdued if the tax rate is low and the tax threshold is RM3 million.

Under the older SST tax regime the sales tax was 5%. The tax expense will be fully passed on to customer and could possibly lead to an increase in prices.

Lehmann said Carlsberg has also seen an improvement in sales during the three month tax holiday period.

For the second quarter ended June 30, the group’s net profit rose 4.9% to RM63.91 million from RM60.29 million last year on the back of higher profit contribution from its Malaysian operations and higher share of profit in its Sri Lankan associate company Lion Brewery (Ceylon) PLC, which mitigated the lower profit from its Singapore operations.

Revenue for the period grew 0.8% to RM415.45 million from RM412.14 million.

For the cumulative period, it’s net profit rose 12.79% to RM144.73 million from RM128.31 million.

Meanwhile, revenue for the six month period increased by 5.37% to RM963.92 million from RM914.77 million due to double digit growth across most product segments.

The lower contribution from Singapore was due to the appreciation of the ringgit against the Singapore dollar, lower sales and positive one-off trade discounts adjustment.

While the product offering is the same in Singapore, Lehmann said Carlsberg will have to step up the sales of its premium brands and smooth draught variant in Singapore despite gaining market share in the country in the first half of the year.

Moving forward, Carlsberg Malaysia will also be increasing its advertising and promotional spending to the higher single digits. It is also hopeful that the government will not increase the excise duty in the upcoming budget announcement.


Alibaba Cloud’s first product launch outside China

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SINGAPORE: Alibaba Cloud, the cloud computing arm of Alibaba Group, has launched nine new products for the global market in the areas of cloud architecture, machine learning, Internet of things (IoT) and security. Speaking at the Alibaba Cloud Summit Infinity 2018 here yesterday, Alibaba Cloud International’s chief solution architect Derek Wang said these products will meet the needs of retailers in the region that are looking to digitise their operations under the new retail concept that integrates online and offline platforms or also known as omnichannel. Wang noted that thisRead More


Public Bank achieves RM3.55 billion in pre-tax profit for 1H18

KUCHING: Public Bank Bhd (Public Bank) recorded pre-tax profit of RM3.55 billion, a growth of 5.5 per cent from the corresponding period in 2017 for the first half of the year ended June 30, 2018. The group’s net profit attributable to shareholders increased by 8.6 per cent to RM2.8 billion. Public Bank founder and chairman […]


DHL eCommerce inks pact with Shoppee M’sia

KUALA LUMPUR: DHL eCommerce, a division of Deutsche Post DHL Group, has signed a partnership with Shopee Malaysia to boost its growth in Malaysia. DHL eCommerce Southeast Asia managing director Kiattichai Pitpreecha said since its launch in Malaysia in April 2017, the company has grown 600 per cent and expects the growth trend would continue. […]


Chinese hot pot chain said to seek approval for US$1b IPO

HONG KONG, Aug 15 — Haidilao International Holding Ltd, China’s biggest hot pot restaurant chain, plans to seek approval next week for a Hong Kong initial public offering that could raise as much as US$1 billion, people with knowledge of the…


Battered Tencent looks for bottom after US$150b wipeout

SHENZHEN, Aug 15 — Investors in Tencent Holdings Ltd, once the hottest stock in Asia, are trying to figure out where the bottom is. The Chinese internet giant, best known for its popular games and ubiquitous messaging services, has shed more than…