The week at a glance 27 August 2017

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Sabah & Sarawak

Plantations division the star performer for Ta Ann

Local player Ta Ann Holdings Bhd (Ta Ann) saw its core net income of RM68.9 million for the forst half of 2017 (1H17) coming in within expectations, with its plantations segment labelled as the ‘star performer’ by analysts.  To note, its core net income for 1H17 jumped 54 per cent year on year (y-o-y) as its profit before tax (PBT) for its plantation division surged 279 per cent y-o-y.

 

Dayang back in black but still below expectations due to awards delay

Despite returning to the black in the second quarter of financial year 2017 (2QFY17) with RM18.4 million in net profit, Dayang Enterprise Bhd’s (Dayang) results are still below expectations as the group’s core net loss of RM17.7 million in the first half of 2017 (1H17) is still a far cry from consensus full-year estimates of RM67 million.

 

Weaker second half expected for Bintulu Port due to losses from Samalaju Port

Analysts see Bintulu Port Holdings Bhd’s (Bintulu Port) net profits of RM74.4 million for its first half of 2017 (1H17) as coming in below expectations in anticipation of a weaker 2H17 due to losses from Samalaju Port, which had just commenced operations in June this year.

 

CMS sees earnings improve in 1H17

Cahya Mata Sarawak Bhd reported a total revenue of RM670.57 million for 1H17, a 10 per cent decrease to the preceding year’s corresponding period’s (1H16) revenue of RM745.72 million. This was mainly due to lower sales volume in its construction Materials, trading and cement sivisions.

 

ITCC’s MSC status to spur development of Sabah’s digital economy

The Penampang International Technology and Commercial Centre’s (ITCC) Multimedia Super Corridor (MSC) status will not only ensure Sabah’s capability in driving innovation but also help the state seize opportunities in technological developments. Sabah Chief Minister Datuk Seri Musa Aman encouraged the public and private sectors to make Sabah more techonology-savvy and spur development in digital economy.

 

National

Economy to sustain growth momentum in second half

The Malaysian economy should sustain its growth momentum in the second half of the year, barring any major global events, said Second Finance Minister, Datuk Seri Johari Abdul Ghani. He said the government had not revised the 2017 Gross Domestic Products (GDP) from the original forecast of 4.3 per cent to 4.8 per cent, but based on the growth of 5.6 per cent and 5.8 per cent recorded for the first and second quarters, the forecast could be surpassed.

 

SOCSO aims for 5, 6 pct yearly return

The Social Security Organisation (SOCSO) has developed a five-year Investment Strategy Blueprint encompassing a review of policies, portfolio strategy and management, and strategies of all asset classes and enablers.

 

Malaysia to continue supporting multilateralism

Malaysia will continue to support multilateralism despite the prevalent anti-globalisation rhetoric in some parts of the world, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. He said it was one way for the country, which practices an open economy with a relatively small domestic market, to deal with the current global challenges and ensure long-term growth and stability.

 

Petronas weighing options to develop, monetise gas in Canada

National oil company, Petroliam Nasional Bhd (Petronas), is weighing the options to develop and monetise its gas resources in Canada after shelving the plan for a multi-billion dollar liquefied natural gas (LNG) project in British Columbia.

 

AMMB’s share price continues to contract despite improvement in earnings

Share prices of AMMB Holdings Bhd continue to pare down on Thusday in spite of the group announcing good results for the first quarter of its financial year 2017.

The shares continue to weaken beginning on Wednesday when the stock resumed trading following the announcement of the merger call-off between AMMB and RHB Bank Bhd.

 

Malaysia’s wood-based product exports to breach RM25 bln by 2020

Malaysia’s wood-based product exports is expected to exceed RM25 billion by 2020 in line with the advancement of automation technology, innovation and e-commerce participation by timber-related industry players. Plantation Industries and Commodities Minister, Datuk Seri Mah Siew Keong said the target set allows policymakers and industry players to form and execute detailed plans within the next three years, without marginalising the upstream and downstream industry stakeholders.

 

Strong results for Petronas in 1H17

Petroliam Nasional Bhd (Petronas) on Friday announced strong earnings for the first half of 2017, contributed by higher average realised prices, better margins and boosted by the on-going transformation initiatives to reduce cost and increase efficiency. The group’s revenue grew to RM108.1 billion, up 15 per cent from RM93.7 billion in the first half of 2016, benefitting from the upward trend of key benchmark prices and foreign exchange rate, but was partially offset by lower sales volume.

 

1,500 SMEs to be listed on AliBaba.com by November

A total of 1,500 pilot small and medium enterprises (SMEs) will be ready for listing on the AliBaba.com e-commerce platform by early November, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. The minister said the selection process was conducted by three agencies – SME Corp Malaysia, the Malaysia External Trade Development Corp and the Malaysia Digital Economy Corp.