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Selangor Properties Q3 profit jumps 70%

PETALING JAYA: Selangor Properties Bhd (SPB) has registered a 70% growth in net profit to RM33.2mil for the third quarter ended July 31, 2018 (3Q18), compared to the corresponding quarter last year.

In a Bursa Malaysia filing, SPB said it was increasing marketing efforts to drive sales of units in AIRA Residence project. (File pic shows model of Aira Residence project)

VW’s MAN sticks to lofty margin goal ahead of possible truck IPO

FRANKFURT: Volkswagen AG’s (VW) MAN unit is sticking to a profitability target it fell short of for years amid painful cost-cutting, underscoring the ambitious goal of the German automaker’s truck division to generate industry-leading returns as it prepares for a possible share sale.

Drees: We changed a lot in recent years and made a lot of improvements, but we want more. — Bloomberg

China allows WMPs to buy stocks directly

HONG KONG: Chinese authorities said wealth management products (WMPs) can invest directly in the stock market, as policy makers try to reduce the potential risks associated with WMPs buying third-party offerings.

Commercial banks can now open accounts to invest their WMP assets straight into equities, China Securities Depository and Clearing Corp. said in a statement on its website late Wednesday.

SCGM targets new export market

KUALA LUMPUR: Thermoform food packaging manufacturer SCGM Bhd is targeting new export markets with the commissioning of its new Kulai factory in December this year.