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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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Oil rises in short term even there is fear COVID-19 spreads
TOKYO: Crude prices edged up today as investors covered short positions after three sessions of losses, even as fears deepened that the rapid spread of the coronavirus will lead to a global pandemic. Brent crude rose 42 cents, or 0.8%,
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Bursa Malaysia to establish a subsidiary to take over regulatory functions
KUALA LUMPUR: Bursa Malaysia Bhd will establish a wholly-owned subsidiary to assume the regulatory functions currently undertaken by Bursa Malaysia (Bursa RegSub). The Securities Commission Malaysia (SC) and Bursa Malaysia, in a joint statement yesterday, said both of them have
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Govt will announce stimulus package with some delays
The political uncertainty that had wreaked havoc in the country over the weekend has now calmed down after Tun Dr Mahathir Mohamad was appointed interim prime minister yesterday. However, with the ongoing political situation, businesses are concerned if the stimulus
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COVID-19: Global economy affected due to coronavirus rise outside China
NEW YORK: The S&P 500 and the Dow Jones Industrial Average suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China, fanning worries about the global economic impact of a potential pandemic, yesterday.
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KLCI down by nearly 27 points amid talk of change in govt
PUCHONG: The FBM KLCI today fell by 26.48 points this morning, following due to uncertainty over speculation that there may be a change in government today. As of opening time, the stock market only opened at 1,501.47 but it later
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EPF declares dividend of 5.45% for 2019
KUALA LUMPUR: The Employees Provident Fund (EPF) delivered a solid performance for 2019 in terms of both its operational and financial results, allowing it to declare a dividend of 5.45% with a payout amounting to RM41.68 billion for Simpanan Konvensional.
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