Ganeshwaran Kana

Recent and archived articles by Ganeshwaran Kana

18 Jan 2019 | 7:00 AM

Affin initiates coverage on Scientex with ‘buy’ call

PETALING JAYA: Affin Hwang Capital Research has initiated coverage on packaging material maker Scientex Bhd, with a “buy” rating and a target price of RM10.10.

Attractive valuation: A file picture showing Scientex MD Lim Peng Jin. Scientex is a top five global player in stretch film packaging and a leading developer of affordable homes in Peninsular Malaysia
18 Jan 2019 | 7:00 AM

Govt promises to speed up auto approval process

PETALING JAYA: The government has assured carmarkers that it will speed up the approvals on incentives for automotive companies, a day after the Malaysian Automotive Association (MAA) lambasted the Pakatan Harapan administration for dragging its feet in approving prices for new car models.

Deputy International Trade and Industry Minister Ong Kian Ming(pic) told Bernama that the approval process related to the incentives for the new models would be made more efficient, moving forward.
17 Jan 2019 | 7:00 AM

Car sales in Malaysia to shift to lower gear

MAA: Delay in approval of new car prices affecting overall market

Higher sales: A woman walking toward her car in a parking lot in Putrajaya. The MAA says the local automotive sector’s TIV grew 3.8 to 598,714 units, exceeding MAA’s earlier forecast of 1.5. — AP
16 Jan 2019 | 1:13 PM

MAA expects flat auto sales for 2019

PETALING JAYA: The Malaysian automotive industry recorded a rebound in total sales in 2018 following two years of consecutive contraction, with a 3.8% growth in total industry volume (TIV).

16 Jan 2019 | 7:00 AM

Analysts: Takeover price for SelProp is attractive

PETALING JAYA: The revised takeover price of RM6.30 per share offered by Selangor Properties Bhd’s controlling shareholder is considered attractive, although it remains below the company’s book value per share, according to analysts.

The Wen family, that owns 68.23% of Selangor Properties via its investment vehicle Kayin Holdings Sdn Bhd, raised its proposed selective capital reduction (SCR) and repayment offer price by 30 sen for the second time yesterday.
12 Jan 2019 | 7:00 AM

November IPI higher by 2.5%

PETALING JAYA: Malaysia’s manufacturing and electricity sectors recorded higher output in November 2018, raising the country’s Industrial Production Index (IPI) up by 2.5% year-on-year (y-o-y).

12 Jan 2019 | 7:00 AM

Goldilocks economy

Sentiment on Malaysia’s economy not so positive but is there a silver lining?

10 Jan 2019 | 7:00 AM

TM faces competition from TNB plan

PETALING JAYA: Telekom Malaysia Bhd (TM) risks losing its customers in the domestic fixed-line broadband scene if Tenaga Nasional Bhd’s (TNB) National Fiberisation and Connectivity Plan (NFCP) pilot project becomes a long-term business arrangement.

Affin Hwang Capital Research, which became the latest brokerage to downgrade TM, has warned that the telecommunications player’s long-built market share could decline due to the possible emergence of new competitors in the broadband market.
9 Jan 2019 | 7:00 AM

Munir: Be objective on country’s economic challenges

KUALA LUMPUR: Concerns about Malaysia’s rising economic challenges must be openly accepted and should not be swept under the carpet, according to CIMB Asean Research Institute (CARI) chairman Tan Sri Munir Majid.

Speaking after a briefing by CARI yesterday, called “Leveraging Asean solutions for trade through ASSIST,” Munir urged Malaysians to be objective on matters related to the country’s macroeconomic conditions.  “In Malaysia, we all get scared to say negative things about our economy but we have to be objective about matters of fact and accept that certain things are happening that are a challenge to the economy,” he said.
8 Jan 2019 | 7:00 AM

AMMB’s plan to dispose of NPLs expected to boost its net profit

PETALING JAYA: AMMB Holdings Bhd’s plan to dispose RM553.91mil worth of non-performing loans (NPLs) would likely boost its net profit in the current financial year of 2019 (FY19) by about 18%, according to RHB Research Institute.

AMMB, which is Malaysia’s sixth largest banking group by assets, is projected to make a net gain of RM314mil to RM338mil following the proposed disposal of the retail NPLs of AmBank (M) Bhd and AmBank Islamic Bhd.  RHB Research Institute was positive on the plan.