market share

 
 

Croatia’s shipbuilders struggle to stay afloat

PULA (Croatia), Dec 19 — Late wages, mass strikes, scrapped contracts — Croatia’s once-thriving shipbuilding sector is sinking, in one of the last gasps of the region’s communist-era industrial giants. The towering cranes looming over Pula…


Top Glove’s outlook anchored by capacity-led expansions

KUCHING: Top Glove Corporation Bhd’s (Top Glove) outlook is expected to continue being underpinned by stable and steady growth in demand of disposable medical glove, with earnings to be anchored by capacity-led expansions. The research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) viewed that the group’s outlook will continue to be underpinned by […]


Smartphone shipments to rebound in 2019

KUCHING: According to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, worldwide smartphone shipments are expected to decline by three per cent in 2018 before returning to low single-digit growth in 2019 and through 2022. It stated: “While the on-going US-China trade war has the industry on edge, IDC still believes that continued […]


BToto declares 4 sen dividend in second quarter

PETALING JAYA: Berjaya Sports Toto Bhd’s (BToto) pre-tax profit for the second quarter ended Oct 31, 2018 fell 1.9% to RM94.29 million from RM96.08 million a year ago due to lower results from Sports Toto Malaysia Sdn Bhd.

In a filing with Bursa Malaysia, BToto said the lower results from Sports Toto was partly mitigated by improved results from H.R. Owen Plc and Philippine Gaming Management Corporation (PGMC).

Revenue for the quarter fell 2.3% to RM1.35 billion from RM1.38 billion a year ago mainly due to lower revenue reported by Sports Toto and H.R. Owen.

According to the group, Sports Toto’s 1.4% drop in revenue was mainly due to the previous year’s corresponding quarter which registered strong sales from its high jackpot in the Grand Toto 6/63 game, while its higher percentage decrease in pre-tax profit of 13.4% was mainly due to higher prize payout during the quarter under review.

PGMC’s revenue grew 7.2% during the quarter (when reporting in its functional currency) due to higher lease rental income earned consequent to improved sales of the Philippine Charity Sweepstakes Office.

Its pre-tax profit rose 49.8% due to lower operating expenses incurred. However, the unfavourable foreign exchange effect upon translation to ringgit resulted in PGMC’s revenue falling marginally by 0.4% while the increase in pre-tax profit was lower at 39%.

H.R. Owen’s revenue (in its functional currency) rose 1.1% due to higher revenue from new car sales. It recorded a pre-tax profit of GBP800,000 during the quarter compared with a loss of GBP700,000 a year ago due to higher sales from the new car sector.

However, upon translation to ringgit, the H.R. Owen reported a drop in revenue of 3.1% to RM523.6 million from RM540.3 million a year ago due to the unfavourable foreign exchange effect.

It recorded a pre-tax profit of RM4.5 million compared with a pre-tax loss of RM4 million a year ago.

For the six months ended Oct 31, 2018, pre-tax profit rose 6.4% to RM227.33 million from RM213.60 million a year ago while revenue fell marginally to RM2.85 billion from RM2.86 billion a year ago.

The board has declared a second interim dividend of 4 sen per share in respect of the financial year ending April 30, 2019 (FY19), payable on Feb 12, 2019. The entitlement date has been fixed on Jan 18, 2019.

The second interim dividend distribution for FY19 will amount to RM53.9 million. The total dividend distribution for the financial period ended Oct 31, 2018 is 8 sen per share amounting to about RM107.8 million, representing 73.2% of the attributable profit of the group for the period.

The group expects Sports Toto’s performance to be satisfactory and is confident that BToto will continue to maintain its market share in the number forecast operator business for the remaining quarters of FY19.


New investment to drive growth in Thailand’s e-commerce market

High rates of digital banking growth and an increase in online transactions have coincided with new investment in Thailand’s e-commerce segment, with online shopping market share expected to treble within five years. In late September Thai retailer Central Group formally launched a new e-commerce joint venture with Chinese company JD.com. The $500m JD Central development, […]


BToto’s Q2 profit hit by Sports Toto’s higher prize payout

PETALING JAYA: Berjaya Sports Toto Bhd’s (BToto) pre-tax profit for the second quarter ended Oct 31, 2018 fell 1.9% to RM94.29 million from RM96.08 million a year ago due to lower results from Sports Toto Malaysia Sdn Bhd.

In a filing with Bursa Malaysia, BToto said the lower results from Sports Toto was partly mitigated by improved results from H.R. Owen Plc and Philippine Gaming Management Corporation (PGMC).

Revenue for the quarter fell 2.3% to RM1.35 billion from RM1.38 billion a year ago mainly due to lower revenue reported by Sports Toto and H.R. Owen.

According to the group, Sports Toto’s 1.4% drop in revenue was mainly due to the previous year’s corresponding quarter which registered strong sales from its high jackpot in the Grand Toto 6/63 game, while its higher percentage decrease in pre-tax profit of 13.4% was mainly due to higher prize payout during the quarter under review.

PGMC’s revenue grew 7.2% during the quarter (when reporting in its functional currency) due to higher lease rental income earned consequent to improved sales of the Philippine Charity Sweepstakes Office.

Its pre-tax profit rose 49.8% due to lower operating expenses incurred. However, the unfavourable foreign exchange effect upon translation to ringgit resulted in PGMC’s revenue falling marginally by 0.4% while the increase in pre-tax profit was lower at 39%.

H.R. Owen’s revenue (in its functional currency) rose 1.1% due to higher revenue from new car sales. It recorded a pre-tax profit of GBP800,000 during the quarter compared with a loss of GBP700,000 a year ago due to higher sales from the new car sector.

However, upon translation to ringgit, the H.R. Owen reported a drop in revenue of 3.1% to RM523.6 million from RM540.3 million a year ago due to the unfavourable foreign exchange effect.

It recorded a pre-tax profit of RM4.5 million compared with a pre-tax loss of RM4 million a year ago.

For the six months ended Oct 31, 2018, pre-tax profit rose 6.4% to RM227.33 million from RM213.60 million a year ago while revenue fell marginally to RM2.85 billion from RM2.86 billion a year ago.

The board has declared a second interim dividend of 4 sen per share in respect of the financial year ending April 30, 2019 (FY19), payable on Feb 12, 2019. The entitlement date has been fixed on Jan 18, 2019.

The second interim dividend distribution for FY19 will amount to RM53.9 million. The total dividend distribution for the financial period ended Oct 31, 2018 is 8 sen per share amounting to about RM107.8 million, representing 73.2% of the attributable profit of the group for the period.

The group expects Sports Toto’s performance to be satisfactory and is confident that BToto will continue to maintain its market share in the number forecast operator business for the remaining quarters of FY19.


Perodua names Zainal Abidin Ahmad as new CEO

PETALING JAYA: Perodua today announced the appointment of Datuk Zainal Abidin Ahmad (pix) as its new President and CEO to replace Datuk Aminar Rashid Salleh who will be retiring on Dec 31 after nine years at the helm.

The group said in a statement that Zainal was previously the vice-president of Perodua Auto Corp Sdn Bhd. His appointment will take effect from Jan 1, 2019.

“He is expected to further efforts to work on improvements in efficiency and competitiveness, with the aim of expanding Perodua’s export business,” Perodua said.

Perodua chairman Tan Sri Asmat Kamaludin said Zainal has proven his ability to work well with all shareholders, including Daihatsu Motor Company of Japan in bringing new technology to Perodua and encouraging investment within the country.

“With the manufacturing knowledge shared by Daihatsu, we were able to stay competitive domestically, and with their guidance, we are looking to further grow our business beyond Malaysia,” he added.

Zainal, 52, holds a Bachelor’s Degree in Management Information Systems and Accounting from the Pacific Lutheran University, Washington, US. He began his career in Perodua in 1995 in the cost control department, and was directly involved in creating Perodua’s manufacturing cost structure.

He will also be the first President and CEO selected from within Perodua.

Meanwhile, Perodua said under Aminar’s leadership, Perodua not only expanded its market share from 31.2% in 2010 to above 37% as of year-to-date 2018, but also started the much-needed transformation initiative within the group.

“The Perodua board of directors wishes to thank Aminar for his contributions to Perodua and to the Malaysian automotive industry as a whole,” said Amat.


Zainal Abidin Ahmad named new Perodua CEO

KUALA LUMPUR, Dec 13 — Perusahaan Otomobil Kedua Sdn Bhd (Perodua) has appointed Datuk Zainal Abidin Ahmad as its new Chief Executive Officer (CEO), succeeding Datuk Dr Aminar Rashid Salleh, who is retiring after nine…


Manforce up 28% in LEAP Market debut

KUALA LUMPUR: Manforce Group Bhd, which debuted on the Leading Entrepreneur Accelerator Platform (LEAP) Market of Bursa Malaysia Securities Bhd today, closed its first day of trading with a 5 sen or 27.8% premium at 23 sen with 925,000 shares changing hands.

This gives the company a market capitalisation of RM73.6 million.

Manforce offers workforce solutions and services in Malaysia, with its business activities principally involved in the provision of foreign workers management services, manual labour services as well as foreign workers insurance products and services.

Manforce managing director Datuk Paul Wong Boon Ming said it has raised RM8.6 million through the private placement at an issue price of 18 sen per placement share.

About 87.3% or RM7.5 million of the proceeds raised from the initial public offering (IPO) will be utilised for working capital and the balance 12.7% or RM1.1 million will be used to defray the estimated listing expenses.

“Our board of directors and management team will provide our commitment in growing the company. The first step in doing so is by hiring and/or managing up to 1,800 additional foreign workers, and we hope to complete this within 24 months. The industry we are in is a volume game and there is always a mismatch between the supply and demand. We intend to grow our market share further by addressing the mismatch through our existing and upcoming business strategies,” Wong added.

Besides that, the company intends to diversify its customer market segments, by penetrating into construction, automotive and semiconductor segments, from the current focus on electrical and electronics and plastic manufacturing as well as the services sectors. There are also plans to enhance the company’s service offerings by improving workers’ service quality and through continuous development of the IT infrastructure as well as expansion of support team.


Apple phones still sold in China despite ban

BEIJING, Dec 11 — Apple stores in China continued with business as usual today despite a court-ordered ban on iPhone sales, but the US tech giant faces a growing nationalist backlash over the US-sought arrest of a Huawei executive. According to US…