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Net outflow dominates market amid political turmoil
KUALA LUMPUR: Malaysia saw its net outflow dominated the equity market last week, surpassing a net sell of over RM1.15 billion compared with the previous week’s RM447.9 million due to the unnerving political turmoil which culminated in the scramble among political parties seeking to
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Stimulus package will add 1.4 percentage to the country’s GDP this year
KUALA LUMPUR: The RM20 billion economic stimulus package will roughly add about 1.4 percentage points to the country’s Gross Domestic Product (GDP) in 2020, which has already been revised lower to between 3.2-4.2% from the government’s earlier target of 4.8%.
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BHB’s net profit increase to RM 786.92 mln last year compared to 2018
KUALA LUMPUR: BIMB Holdings Bhd’s (BHB) net profit rose to RM786.92 million in its financial year ended Dec 31, 2019 (FY19) versus RM682.06 million in the preceding year. Revenue increased to RM5.38 billion from RM4.52 billion previously, it said, in
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COVID-19: Global shares heads to its worst week since 2008 global financial crisis
TOKYO: Global share prices headed for the worst week since the darkest days of the world financial crisis in 2008 as investors braced for the coronavirus to become a pandemic and rapidly spread around the world. Hope that the epidemic
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COVID-19: Dr M announces RM20 bln economic stimulus package (full story)
PUCHONG: Interim Prime Minister Tun Dr Mahathir Mohamad today announced a RM20 billion economic stimulus package to help rejuvenate the nation’s economy, by helping sectors badly affected by the COVID-19 outbreak. Speaking in a live address, Mahathir also took time
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RHB Bank profits soar to RM2.48 bil last year compared to 2018
KUALA LUMPUR: RHB Bank Bhd’s net profit jumped 7.7% to RM2.48 billion, for the financial year ended Dec 31, 2019, compared with RM2.31 billion in the year before. The better performance was mainly due to higher net income, lower expected
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COVID-19: Asia Pacific businesses affected, looking at restructuring
KUALA LUMPUR: Businesses in the Asia Pacific are struggling to maintain operations amidst the COVID-19 outbreak, with almost 50% of them stating they will be forced to restructure business operations to stay afloat if the situation worsens. This is according
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Ringgit will not face extreme volatility thanks to managed float
KUALA LUMPUR: The ringgit has been under pressure throughout this week amid political uncertainty in the country, which intensified with the collapse of the Pakatan Harapan-led government. On Monday, when the Cabinet was dissolved, the ringgit lost 0.8 per cent
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Petronas’ net profit fell 27% last year compared to 2018
KUALA LUMPUR: Petronas’ net profit fell 27% to RM40.5 billion for the financial year ending Dec 31, 2019 from RM55.3 billion in the 2018 financial year, on the back of four per cent lower revenue of RM240.3 billion for the
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Pos Malaysia recorded lower revenue of RM1.68 billion
KUALA LUMPUR: Pos Malaysia Bhd recorded a lower revenue of RM1.68 billion for the nine months of its financial period ended Dec 31, 2019, from RM1.76 billion in the preceding year. Net loss widened to RM215.58 million from RM24.64 million,
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