CIMB’s 92.5%-owned subsidiary PT CIMB Niaga Tbk saw its net profit rise by 11.8% year-on-year in 1QFY20, driven by an 11.5% growth in non-interest income and a 2.7% reduction in operating expenses.
FGV’s unit FGV Trading Sdn Bhd is patterning with India’s Pre Unique Pvt Ltd (PreU) to form a 70-30 joint venture to participate in the Indian food products market, especially in the southern region of the country.
MISC posted its 1QFY20 net loss of RM1.16bil in eight years, from a net profit of RM510.50mil a year ago, owing it having to make an RM1.05bil provision for litigation claims in its quarterly numbers.
Orion IXL’s auditors Messrs STYL Associates have resigned due to manpower issues. The group is in the midst of finding a replacement.
Pegasus Heights has to postpone its plans to expand its new F&B business and revamp its Seremban Shopping Mall no thanks to Covid-19.
Ageson’s unit Esa Pile Sdn Bhd, which has no sand-mining operations, will leverage on long-established partners and experienced subcontractors in the sand business to fulfil the RM27.5 billion contract from Guangzhou Kaishengda Industrial Co Ltd (GKI).
Replying to a query from Bursa Malaysia today on its May 4 announcement, the company said the partners had obtained approved permits for the export of sand.
Meanwhile, based on a news report, the Department of Mineral and Geoscience Malaysia (JMG) director-general Datuk Shahar Effendi Abdullah Azizi said that no applications have been received or Approved Permit (AP) approval given to Ageson or its subsidiary, Esa Pile.
He said the Ministry of Energy and Natural Resources (KeTSA) through JMG found that there was no record of existing AP holders that export sand had made any joint-venture agreement to supply sand to the company or subsidiary to date.
Overnight, the US markets were mixed with Nasdaq extending its winning streak to 6 days following gains in technology counters.
The S&P 500 was up just 0.39 points to 2,930.19 after falling as much as 0.9% to start the session.
The Dow Jones Industrial Average traded 109.33 points lower, or 0.4%, to 24,221.99.
Earlier, European stocks declined following concerns on a second wave of the coronavirus.
“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways below the resistance of 1,415 points,” JF Apex said.