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PRIVATE sector debt in Malaysia is on the rise as business expansion continues to be fuelled by debt accumulation over the years.
Corporates on Bursa Malaysia have seen a cut in director’s remuneration but the decision by shareholders of FGV Holdings Bhd to reject resolutions approving the payment of fees to the company’s directors is seen as unprecedented.
KUALA LUMPUR: RHB research is neutral on the news that Genting Malaysia Bhd has withdrawn its application for a review of the terms for tax incentives.
PETALING JAYA: As the group copes with a hike in gaming taxes, Genting Malaysia Bhd chairman and chief executive Tan Sri Lim Kok Thay has taken a 20% voluntary pay cut.
KUALA LUMPUR: Genting Malaysia Bhd chairman and chief executive Tan Sri Lim Kok Thay, the highest paid CEO in the country, is taking a 20% pay cut, according to a report by China Press.
The Genting group of companies, one of Malaysia’s most cash-rich conglomerates, begins its current financial year with a dent in its bottom line.
PETALING JAYA: Genting Bhd’s net profit fell 6.8% to RM561.65mil in the first quarter ended March 31, 2019 (1Q19) from RM602.7mil a year ago due to termination-related costs of RM198.3mil by its subsidiary Genting Malaysia Bhd, as well as a loss on discontinued cash flow hedge.
KUALA LUMPUR: Genting Bhd is reviewing spending plans and cost structures in Malaysia following recent hikes in casino duties, while a provision on a terminated project impacted its first quarter earnings.
PETALING JAYA: The improvement in ties between Malaysia and China would be a boon for Genting Malaysia Bhd, according to RHB Research.
KUALA LUMPUR: RHB research is optimistic over Genting Malaysia Bhd's upcoming results, which it says should dispel uncertainty on the impact of the tax hike and boost sentiment on the stock.