Thursday, June 20

The week at a glance 25 February 2018

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Sabah & Sarawak

Extreme optimism on KKB upon initiation by MIDF Research

As the leading steel fabricator in East Malaysia – and one of the only few Petronas licensed fabricators here – MIDF Amanah Investment Bank Bhd is optimistic on KKB Engineering Bhd with their initiation on the firm. With over 55 years of experience in the steel fabrication industry, KKB is an established player with significant market share in East Malaysia.

 

Petronas’ subsidiary secures LNG contract to India

Petronas’ subsidiary, Petronas LNG Ltd, marked a new milestone with the signing of a sale and purchase agreement with H-Energy Mideast DMCC, its first-term liquefied natural gas contract to the South Asia country.

 

CMS sees improvement in earnings for FY17

Cahya Mata Sarawak Bhd  reported total revenue of RM1.61 billion and a pre-tax profit of RM332.79 million for its financial year 2017. Both its revenue and profit before tax increased by four per cent and 10 per cent, respectively, in comparison to the preceding year’s result of RM1.55 billion and RM302.14 million.

 

Stronger performance at Bintulu Port boosts FY17 profits

Bintulu Port Holdings Bhd saw its core net profits for its financial year 2017  coming in at RM153.3 million which is 12 per cent higher against forecasts of Kenanga Investment Bank Bhd due to stronger performance from Bintulu Port.

 

National

Minda Global expects to expand study disciplines, boost intake

Private education provider Minda Global Bhd expects to develop new programmes to expand the group’s study disciplines and improve student intake growth.  The company, which made its debut on Bursa Malaysia on Monday by taking over the listing status of Asiamet Education Group Bhd (AEGB), also plans to relocate the recently-acquired Cyberjaya University College of Medical Sciences (CUCMS) to a new purpose-built campus by mid-2018.

 

Headline inflation to remain at 2.5 pct this year

RAM Rating Services Bhd forecasts Malaysia’s headline inflation to remain at 2.5 per cent this year — the same as last year — underpinned by lower contribution from the transport component. The rating agency said transport inflation was unlikely to repeat last year’s double-digit growth trajectory without the low-base effects from retail fuel prices.

 

Malaysia was largest sukuk issuer globally in 2017

Malaysia maintained its leadership as the world’s largest sukuk issuer in 2017, accounting for US$36.5 billion (RM142.7 billion) of global sukuk issuance. It was followed by Saudi Arabia (US$31.7 billion), Indonesia (US$6.9 billion) and Qatar (US$5.6 billion), RAM Rating Services Bhd (RAM Ratings) said in a statement on Wednesday.

 

Sime Darby Plant 2Q profit up 34 pct on higher earnings from Upstream Malaysia

Sime Darby Plantation Bhd’s net profit surged 34 per cent to RM477 million for the second quarter ended Dec 31, 2017 compared with RM341 million recorded in the corresponding quarter, amid higher earnings from Upstream Malaysia and reduced finance costs as a result of lower borrowings.

 

FGV net 2017 profit rises to rm208 mln

Felda Global Ventures Holdings Bhd’s net profit rose to RM208.04 million in the financial year ended December 31, 2017 from RM66.45 million recorded a year ago.

 

South Korea’s SK group to establish regional head office in Malaysia

A Fortune 100 company and the second largest conglomerate by market capitalisation in South Korea, SK Group, will establish a regional head office in Malaysia to cover Asean, India and the Middle East, for a blue ocean shift between it and the country. Prime Minister, Datuk Seri Najib Tun Razak said the Malaysian government and SK Group had agreed to establish a strategic partnership under the National Blue Ocean Strategy (NBOS), to create new high-growth businesses and investment opportunities in key sectors of the economy.

 

SK Group in talks with Petronas for possible JV

South Korea’s SK Group is in the midst of discussion with Petroliam Nasional Bhd (Petronas) for potential joint ventures in petrochemical and renewable energy projects.