Sabah & Sarawak
Govt continues zero tax for CPO export in March
MALAYSIA has extended its zero tax policy for the export of crude palm oil (CPO) in March, the Malaysian Palm Oil Board revealed on Monday. The duty-free policy for CPO was first introduced for three months from October to December 2014 and later extended up to Feb 28, 2015 to boost exports. The move took the market by surprise as Plantation Industries and Commodities Minister Datuk Seri Douglas Uggah Embas had announced recently that the government planned to re-impose tax the export of CPO from next month.
Protons Iriz to make big impact in Sarawak, Sabah
PROTON Holdings Bhd (Proton) is confident that Proton Iriz will be a big hit both in Sarawak and Sabah following the group’s entry into the compact car B-segment market last year. According to Proton Edar Sdn Bhd chief executive officer Norzahid Mohd Zahudi, while most car buyers in East Malaysia looked for manual transmission cars, the entry of Proton Iriz has led the market to migrate into the auto transmission segment which augurs well for the group.
Subdued prospects for Bintulu Port in FY15 – Analyst
BINTULU Port Holdings Bhd (Bintulu Port) could be facing subdued prospects in financial year 2015 (FY15), says the research arm of CIMB Investment Bank Bhd (CIMB Research). The firm in a report on Tuesday said Bintulu Port will continue to experience slow cargo throughput and vessel call growth in 2015 due to capacity constraints at Petronas’s liquefied natural gas (LNG) trains in Bintulu.
Sunsuria posts higher turnover and profit in 3QFY15
SUNSURIA Bhd’s (Sunsuria) net profit for the third quarter of financial year 2015 (3QFY15) soared 135 per cent year-on-year (y-o-y) to RM1.17 million.
The company in a filing to Bursa Malaysia on Tuesday said its earnings for the nine months of financial year 2015 (9MFY15) also jumped 136 per cent y-o-y to RM2.98 million.
—-
National
New Malaysian domain to encoourage SMEs
Dot ML – the country’s new domain is expected to trigger an online transformation by providing fast, easy and free Malaysian domain name registrations especially for small and medium enterprises (SMES). Positioned as the new Malaysian domain, Dot ML is expected to be well received by Malaysia’s 20 million online user community and SME organisations.
Mah Sing posts higher turnover, earnings for 4Q14, FY14
Mah Sing Group Bhd (Mah Sing) registered higher turnover and earnings for the fourth quarter of 2014 (4Q14) and financial year 2014 (FY14). The property developer in a filing to Bursa Malaysia said its earnings for 4Q14 increased 20 per cent year-on-year to RM84.55 million. For FY14, Mah Sing said the group’s net profit grew 21 per cent y-o-y to RM339.25 million.
MBSB 4Q14 earnings soar 194 per cent to RM393 million
Malaysia Building Society Bhd’s (MBSB) earnings for the fourth quarter of 2014 (4Q14) soared 194 per cent year-on-year (y-o-y) to RM393.07 million from RM133.55 million in 4Q13.
The financial institution in a filing to Bursa Malaysia on Monday said its net profit for financial year 2014 (FY14) ended last December jumped 70 per cent y-o-y to RM1.02 billion.
Revision of motor insurance a continuation of rate adjustments, says PIAM
The General Insurance Association of Malaysia (PIAM) clarified that the revised motor insurance premium was a continuation of the motor
tariff premium rate adjustments under the new motor framework.
It said the adjustments of motor tariff premium rates for 2015 would take effect from Feb 23, as announced recently by Bank Negara Malaysia.
AirAsia sells 25 pct stake in AAE Travel for RM306.187 mln
AirAsia Bhd announced it would divest its 25 per cent stake in AAE Travel Pte Ltd to Expedia Inc for RM306.187 million. In a filing to Bursa Malaysia, AirAsia said it had executed a share purchase agreement (SPA) Expedia, Expedia Southeast Asia Pte Ltd, and its a wholly-owned subsidiary, AirAsia
Exp Pte Ltd to facilitate the divestment.