Sabah & Sarawak
Coastal Contracts’ orderbook poised for growth trajectory
Coastal Contracts Bhd’s (Coastal Contracts) orderbook is poised to remain on its growth trajectory. Following a corporate visit, AllianceDBS Research Sdn Bhd (AllianceDBS Research) on Tuesday said the company has been tendering for jobs in the Southeast Asia market besides the sales of vessels to its customers.
Perdana Petroleum posts mixed figures for FY14
Perdana Petroleum Bhd’s (Perdana Petroleum) figures for financial year 2014 (FY14) came in mixed as analysts weighed the group’s recent asset acquisitions. MIDF Amanah Investment Bank Bhd (MIDF Research) observed that Perdana’s normalised net profit for FY14 came in below expectations, accounting for 85.5 per cent and 86.7 per cent of it and consensus full year estimates respectively.
CMS Y-o-Y pre-tax profit up 16 per cent to RM341 million
Cahya Mata Sarawak Bhd (CMS), the State’s leading infrastructure facilitator, has delivered a strong performance for the financial year ended December 31, 2014 (FY14). The Group on Wednesday reported a total revenue of RM1.67 billion for FY2014, an 18% increase from the corresponding year’s (FY2013) revenue of RM1.42 billion. The pre-tax profit (PBT) recorded for FY2014 was RM341.45 million, a 16% increase compared with FY2013’s PBT of RM294.89 million.
Impairment loss reversal boosts Sarawak Plantation’s 4Q14 earnings
Sarawak Plantation Bhd’s (Sarawak Plantation) earnings in the fourth quarter of 2014 (4Q14) was boosted by a large reversal of impairment loss and other one-off items.
Ta Ann sees growing net profit in 4Q, expects similar FY15
Ta Ann Holdings Bhd (Ta Ann) reported a fourth quarter financial year 2014 (4QFY14) core net profit of RM20.5 million, bringing total for the year to RM105.5 million with management expecting FY15 forecasts to be similar given the lacklustre plywood prices.
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National
Inflation growth slows to lowest in five years
The Consumer Price Index (CPI) slowed to one per cent in January, marking its slowest growth rate seen in five years. This, analysts said on Monday, drew parallel with most major advanced and regional economies which were also experiencing low inflation rates in recent months.
AirAsia, MAHB communicating well over running of KLIA2
AirAsia Bhd and Malaysia Airports Holdings Bhd (MAHB) have established a good line of communication to ensure the smooth running of the Kuala Lumpur International Airport 2 (klia2). AirAsia’s chief executive officer and executive director Aireen Omaron Tuesday said the airport operator had been quick to respond to issues highlighted by the carrier at the klia2.
Brahim’s shareholders reject Burger King’s acquisition
Brahim’s Holdings Bhd has aborted its plan to acquire the Burger King franchise in Malaysia and Singapore as more than 90 per cent of its shareholders are against it. Executive chairman Datuk Seri Ibrahim Ahmad Badawi said among the reasons given is that the fast food chain is a loss-making entity.
Kuok still top on Forbes Malaysia rich list
Tan Sri Robert Kuok and several other business tycoons retained their positions in the latest Forbes Malaysia Rich List, despite a dent in their net value due to a slump in oil prices and the ringgit. Kuok, 91, whose businesses includes palm oil, sugar, shipping, real estate and hotels, retained the top spot for the 10th consecutive year.
Domestic, foreign direct investments in Malaysia hits RM235.9 bln last year
Domestic and foreign direct investments in Malaysia hit RM235.9 billion in 2014, up 7.52 per cent, from RM219.4 billion received in 2013, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. Domestic Direct Investments (DDIs) accounted for RM171.3 billion or 72.6 per cent of total investments, a bulk of which was in the manufacturing, services and primary sector, while the remaining RM64.6 billion or 27.4 per cent came from foreign direct investments (FDIs).