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MAGNUM 4D Bhd said its net profit for the half year to June fell sharply to RM25.04mil from RM44.19mil a year earlier mainly due to higher prize payouts in its gaming operations, coupled with an increase in provision for diminution in the value of its investments.
Giant toy retailer Toys R'' Us Inc. said Monday it cut its second-quarter loss by a third as higher sales for its Internet, international and baby products divisions helped offset rising overhead expenses and slumping sales at its U.S. toy and children's apparel stores.
INTERNET traffic, which was mostly moving from Asia to the United States previously, has seen a reversal of late as a result of improved Asian-generated content and businesses in the last two years, says William Barney, president and chief operating officer of Asia Netcom, a telecommunications carrier.
B>MELBOURNE: /B>Foster's Group Ltd, Australia's best-known beer maker, is looking to sell more than 100 pubs through an initial public offering (IPO) to raise nearly US$1bil for possible use in buying more wine makers, most likely in the United States.
Foreign business news in brief including from Singapore that loss-making ST Assembly Test Services Ltd, Asia's fifth largest microchip tester, said yesterday it has appointed a new chief financial officer, Dov Oshri, to hasten its return to profitability. He takes over from Pearlyne Wang.