Sabah & Sarawak
Dayang’s proposed dividend a positive development
Dayang Enterprise Holdings Bhd’s proposed dividend-in-specie has been viewed by analysts as a ‘big positive’ development for the group. Maybank Investment Bank Berhad had announced on behalf of Dayang’s board of directors that the company proposes to distribute up to 292 million shares in Perdana Petroleum Bhd, representing about 37.5 per cent equity interest in Perdana, by way of dividend-in-specie to the shareholders of the company.
CMS reports pre-tax profit of RM39 million for 1Q17
Cahya Mata Sarawak Bhd reported a total revenue of RM282.30 million for the first quarter of the financial year 2017, a 19 per cent decrease from preceding year’s corresponding quarter’s revenue of RM346.91 million. This was mainly due to a lower sales volume in the Construction Materials & Trading and Cement Divisions. Furthermore, the Construction and Road Maintenance Division also reported lower revenue due to reduced federal road maintenance work and due to the completion of major projects in 2016.
Titijaya formalises collaboration with China’s CREC for its RM575 million development in Sabah
Titijaya Land Bhd, a Bursa Malaysia Main Market Listed Company involved in property development, has formalised its collaboration with CREC Development (M) Sdn Bhd to collaborate on a property development project known as The Shore in Kota Kinabalu, Sabah, which has a gross development value of RM575 million.
Bintulu Port, Petronas offers gassing up cooling down services
Bintulu Port Sdn Bhd, a subsidiary of Bintulu Port Holdings Bhd, signed a non-binding Memorandum of Understanding with Petronas LNG Sdn Bhd, a subsidiary of Petroliam Nasional Bhd to collaborate in exploring potential business opportunities and value added services including offering Gassing Up Cooling Down services to other LNG vessel operators at the Bintulu Port in a bid to generate more revenue.
KKB eyes more O&G, engineering jobs as earnings remain resilient
KKB Engineering Bhd (KKB) aims to focus on key areas of its business such as its engineering and manufacturing as well as oil and gas (O&G) sectors to remain resilient amidst the current challenging environment. It also looks to expand its business into the power and energy sector as it believes Sarawak holds great potential in the industry.
Sarawak sees small number of GST appeal cases as awareness grows
The number of Goods and Services Tax (GST) appeal cases filed by Sarawakian companies is small thanks to the growing awareness amongst businesses and companies on its legislation and system. Although the GST Appeal Tribunal did not announce an official number for the state, it noted that the number of cases from the state is small compared to a nationwide consensus whereby the number of appeal cases decreased from 588 in 2015 to 663 in 2016.
National
Sanguine on growth as BNM keeps OPR unchanged — Analysts
Analysts are equally optimisitic on Bank Negara Malaysia (BNM) maintaining the overnight policy rate unchanged at three per cent as it expects Malaysia’s economic growth to expand by 4.3 to 4.8 per cent for 2017. Economic activity in the advanced and emerging economies have continued to expand amid a pick-up in industrial activities and global trade. BNM maintained its positive view on the global growth and export outlook, but continued to highlight the downside risks, which could reignite financial market volatility.
‘Sugar price unlikely to increase by 40sen per kg’
While there have been that MSM Malaysia Holdings Bhd is still in talks with the government to increase local sugar price by 40sen per kilogram (kg), analysts opine that a price increase of this quantum is unlikely. Affin Hwang Investment Bank Bhd believed that it is unlikely that the government would increase the ceiling price by 40 sen per kg as the ceiling prices had already been adjusted in March this year.
Cybersecurity in the aftermath of ransomware attack
The WannaCry ransomware attack in over 100 countries heightened the ever important need for consumers and companies alike to practice cybersecurity.
According to CyberSecurity Malaysia, Malaysia has emerged as one of the 100 nations hit by this massive global cyberattack of ransomware.
Celcom, Ericsson bring 5G to Malaysia
The nation’s telecommunication technology is set to evolve into a whole new level when Celcom Axiata Bhd and Ericsson performed Malaysia’s first 5G trial. Deputy Minister of Communications and Multimedia Datuk Jailani Johari, in expressing his profound excitement, said the 5G technology was crucial — from empowering the local industry across telecommunication, finance and industrial sectors; to government and private sectors; thus becoming the key to achieving the target to become a developed nation by 2020.
Malaysia’s economy grows 5.6 pct in 1Q17
Malaysia’s economy recorded robust growth of 5.6 per cent in the first quarter of this year against the 4.1 per cent registered in the same quarter of 2016, boosted by strong domestic demand and private expenditure.