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Sime posts higher profit for latest quarter

SIME Darby Bhd has posted a higher profit for its latest financial quarter, but is cautious on the outlook for the remaining two quarters of its financial year, due to economic sluggishness induced by the threat of war in Iraq.

MAHB sees RM20mil in F1 tickets sales

MALAYSIA Airports Holdings Bhd (MAHB), the owner and operator of the Sepang International Circuit, expects to fetch about RM20mil from sales of Formula One tickets this year.

News in brief

News in brief on Guinness, Sunrise, Karensoft, BAT and other firms.

EON posts 10.4% rise in pre-tax profit

EDARAN Otomobil Nasional Bhd (EON) has reported a 10.4% increase in its group pre-tax profit of RM905.9mil for the financial year ended Dec 31, 2002 compared with RM820.3mil in the previous year.

Tan Chong posts pre-tax profit of RM149m

TAN Chong Motor Holdings Bhd has posted a slightly lower pre-tax profit to RM149.4mil for the financial year ended Dec 31, 2002 compared with RM152.4mil previously.

C&C 2002 net profit up 92% to S$231mil

SINGAPORE-BASED motor group Cycle Carriage Ltd (CC) intends to focus on cutting debt this year after posting a 92% rise in 2002 net profit due to foreign exchange gains from its Indonesian unit.

43% growth for motor vehicle sales in January

TOTAL motor vehicle sales in the country rose 43% to 39,696 units in January from December, but showed barely any growth when compared with the same month last year, according to data released by the Malaysian Automotive Association (MAA) yesterday.

New software to bring more revenue to UBS

UBS Corp Bhd, which is heading for a listing on the Mesdaq market next month, expects to increase its revenue from RM9mil to RM16mil for the financial year ending Dec 31, 2003 by aggressively marketing its range of business software applications overseas.

Better Q2 Sime results seen

SIME Darby Bhd is expected to show bigger profits for the 2nd quarter of its current financial year but all eyes will be on whether the company raises its interim dividend accordingly.

AXA to focus on SMEs

WITH the search for new business in the insurance sector becoming increasingly intensive, many general insurers are discovering for themselves that fresh options sometimes may lie in areas that for far too long have not been adequately tapped.