Genting Bhd’s net profit jumped nearly five times to RM655.16mil in the fourth quarter ended Dec 31, 2018 (4QFY18) from RM132.1mil a year ago. Its quarterly revenue grew 2.63% to RM5.4bil from RM5.26bil in 4QFY17.
Genting Malaysia’s net profit jumped 60.11% to RM720.14mil in its fourth quarter ended Dec 31, 2018 (4QFY18), from RM449.79mil a year ago on the back of lower effective tax rate, but still closed the year in the red thereafter — its first loss-making one since 2000 — on higher impairment losses.
UMW Holdings returned to the black in its financial year ended Dec 31, 2018 (4QFY18), with a net profit of RM341.66mil compared to a net loss of RM640.61mil a year
Padini’s net profit grew 6.47% to RM53.2mil in the second quarter ended Dec 31, 2018 (2QFY19) compared with RM49.97mil in the same period a year ago. Quarterly revenue was up marginally by 0.47% to RM462.58mil from RM460.43mil previously.
AirAsia reported a net loss of RM394.97mil in the fourth quarter ended Dec 31, 2018 (4QFY18), on higher fuel prices and operating lease expenses, versus a net profit of RM372.65mil a year earlier.
Meanwhile, US markets ended flat overnight following uncertainties on the US-China trade deal, the Federal Reserve monetary policy and geopolitical tension between India and Pakistan.
Earlier, European stocks declined ahead of the meeting between the leaders of the US and North Korea.
“Following the geopolitical conflict between India and Pakistan, the FBM KLCI could trend lower towards the support of 1,700 points,” JF Apex said.