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Yong Tai to raise RM144mil

PETALING JAYA: Yong Tai Bhd plans to raise RM144mil by issuing 400 million new shares to its major shareholders, including its chief executive officer Datuk Wira Boo Kuang Loon to part finance its development projects.

Trump's business earnings decline 6.9% to US$421m

WASHINGTON: President Donald Trump appears to have earned less from his vast financial empire last year as licensing royalties, rents and golf revenues fell at some properties, his financial disclosure shows.

Trump’s income was at least $421.3 million, according to the document released Thursday by the Office of Government Ethics, down from $452.6 million he reported the year before.

SC announces eight new recognised market operators

KUALA LUMPUR: The Securities Commission (SC) has announced eight new recognised market operators comprising three equity crowdfunding (ECF) and five peer-to-peer (P2P) financing platforms to spur micro, small and medium enterprises (MSMEs) development.

Economy grows 4.5% in first quarter

KUALA LUMPUR: Malaysia’s economy performed above expectations in the first quarter of 2019 (1Q19) and the country’s foreign investments staged a strong improvement, amid elevated external challenges. However, despite these positive developments, more warnings signs on the economy have begun to crop up.

Malaysia's Economic Performance Chart. Source: Department of Statistics Malaysia.

Tropicana Q1 earnings slightly lower

PETALING JAYA: Tropicana Corp Bhd’s net profit was marginally lower at RM46.1mil for the first quarter ended March 31, 2019, compared with RM46.4mil in the corresponding quarter last year despite registering significantly lower revenue.

Tropicana attributed its stable earnings to the completion of two development phases at Tropicana Aman(pic) in 2018, which resulted in higher profit recognition in the said quarter.

SunCon secures 67% of order book

PETALING JAYA: Within the first three months of the year, Sunway Construction Group Bhd (SunCon) has secured 67% of its targeted order book replenishment of RM1.5bil for financial year 2019.

“Moving forward, we are confident that we will sustain our performance through the year and meet our targeted order book replenishment through our expansion strategy into Asean and India, and good prospects presented by Sunway’s plans to expand its healthcare division,” said SunCon managing director Chung Soo Kiong.

SP Setia to ramp up home launches

SHAH ALAM: SP Setia Bhd will be ramping up its launches and sales of properties to achieve its sales target of RM5.65bil, following a slow first quarter (Q1) performance this year.

(Left to right): SP Setia deputy president & COO Datuk Wong Tuck Wai, president & CEO Datuk Khor Chap Jen, chairman Tan Sri Datuk Seri Syed Anwar Jamalullail and executive vice president & CFO Datuk Choy Kah Yew having a photo after press conference of the 44th AGM at Setia City Convention Centre in Shah Alam.