Business News Archives - New Malaysia News

IOI Corp Q2 earnings down 68% on forex loss, lower operating profit
KUALA LUMPUR: IOI Corporation Bhd's net profit fell 68% in the second quarter ended Dec 31, 2018 due to lower operating profit and net foreign currency translation loss on foreign currency denominated borrowings and deposits . [...]
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Tiger lifts Heineken Q4 earnings
KUALA LUMPUR: Heineken Malaysia Bhd posted higher earnings in the last quarter ended Dec 31 on increased sales volume driven by its flagship Tiger brand. [...]
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Tencent to maintain aggressive investment stance in face of challenging 2019
HONG KONG (Reuters): Tencent Holdings Ltd said investment is central to its overall strategy and so it will maintain its scale of investment after an aggressive 2018, brushing aside near-term risks such as the bursting of China’s tech bubble as economic growth slows. [...]
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Malaysian palm oil price reverses gains to fall 1% from over 1-week peak
KUALA LUMPUR: Malaysian palm oil futures reversed earlier gains to fall over 1 percent in evening trade on Tuesday, as output declines remained slower than in previous years and stocks in key buying markets stayed high. [...]
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Biggest gas discovery in 45% Petronas owned entity in Indonesia in 18 years
MADRID: A consortium led by Spain's Repsol, and 45 percent owned by Malaysia's Petronas, has found new gas resources in Indonesia estimated at at least 2 trillion cubic feet, equivalent to around two years' worth of Spanish demand. [...]
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Foreigners shy away from Asian bond markets data from Malaysia and others show
Foreign flows into emerging Asian bonds turned negative for the first time in four months in January, data from Malaysia and others showed, suggesting that a shift away from a tightening bias for regional central banks is dimming the attraction of its debt. [...]
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Phiem Asset targets 8% growth in AUM
KUALA LUMPUR: Pheim Asset Management Sdn Bhd is targeting to expand its asset under management (AUM) between eight and 12 per cent over the next five years, said founder and executive chairman Dr Tan Chong Koay. [...]
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edotco appoints two new directors
KUALA LUMPUR: edotco Group has announced two new director appointments to its leadership team. [...]
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UK deeply disappointed by Honda's decision to close plant
LONDON: Britain said on Tuesday it was deeply disappointed by Honda's decision to close its only British car plant. [...]
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Maxis names Gökhan Ogut CEO
KUALA LUMPUR: Maxis Bhd has appointed Gökhan Ogut as chief executive officer (CEO) to take office on May 1, 2019. [...]
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Axiata, Dialog boost KLCI as consumer stocks top gainers list
KUALA LUMPUR: Investor sentiment towards Axiata turned positive after the sale of its 28.67% stake in Singapore's M1 Ltd while Dialog Group advanced after its firm earnings and upgrade by analysts. [...]
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Petronas Gas FY18 net profit weighed by Kimanis Power
KUALA LUMPUR: Petronas Gas Bhd posted a marginal increase in its net profit of RM1.81bil in the financial year ended Dec 31, 2018 as it was weighed down by share of losses from a joint-venture company, Kimanis Power Sdn Bhd. [...]
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Equity, overseas investments main drivers for EPF income
KUALA LUMPUR: The Employees Provident Fund has recorded RM50.88bil in gross investment income last year, registering a 10-year compound annual growth rate (CAGR) of 10.26%. [...]
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DBS profit driven by loans as turmoil hurts wealth, trading
SINGAPORE: DBS Group Holdings Ltd. relied on lending to boost fourth-quarter profit as financial-market turbulence hit its trading, wealth and investment banking operations. [...]
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Malaysia-China trade volume at record high of RM443b
KUALA LUMPUR: Total trade volume between Malaysia and China reached a record high of US$108.6bil (RM443bil) in 2018, with the number of Chinese visitors into Malaysia increasing 29% to 2.94 million last year. [...]
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Maxis announces RM1bil incremental capex for three years
Allocation to be spent over three years [...]
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