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Corporate News

Hap Seng posts 10% higher Q3 net profit of RM190.69m

KUALA LUMPUR: Hap Seng Consolidated Bhd's net profit in the third quarter ended Sept 30 was nearly 10% higher at RM190.69mil from the previous corresponding quarter due to an investment tax allowance on a biogas plant.


Pos Malaysia sees RM485m erased from market cap after Q2 losses

KUALA LUMPUR: Pos Malaysia Bhd saw RM485.32mil erased from its market capitalisation on Thursday as investors sold their shares after it swung into the red in the second quarter ended Sept 30, 2018.


Goldman Asset says time to buy emerging markets amid volatility

SINGAPORE: Goldman Sachs Asset Management says the volatility saturating global stock markets this year isn’t unusual and provides a window to buy selective emerging-market assets.


Apple iPhone supplier Foxconn planning deep cost cuts

TAIPEI: Foxconn Technology Group, the biggest assembler of iPhones, became the latest Apple Inc. supplier to warn of anemic demand, with an internal memo suggesting that expenses will be cut by almost a half next year.


China share slump deepens as exhausted investors await Trump-Xi meeting

SHANGHAI: China's main stock indexes ended lower on Thursday, extending a lengthy slump tied to the fractious trade war between the world's two largest economies, and few analysts expect either the dispute or market weakness to end any time soon.


RAM sees inflation rising to 2.7% in 2019

KUALA LUMPUR: RAM Ratings expects headline inflation to speed up to 2.7% in 2019 after averaging 1% in 2018, mainly due to higher fuel prices and the reintroduction of the Sales and Services Tax (SST).


UOB Malaysia sees strong fundamentals, better transparency supporting ringgit

KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd expects the ringgit to move in tandem with other Asian currencies amid the volatile external environment and escalating US-China trade conflict.


AmBank Group Q2 net profit up 5% to RM348m, div 5c

KUALA LUMPUR: Banking group AmBank Group Bhd reported a firmer set of financial results for the second quarter ended Sept 30, 2018 reflecting improving trends in its income momentum, operating leverage and profitability.


KLCI moves slightly lower as investors remain on the sidelines

KUALA LUMPUR: The local equities market failed to pick up positive momentum after Wall Street ended its session mixed and investors practised caution amid signs of slowing global growth.


Inequality undermines democracy

SYDNEY and KUALA LUMPUR: Economic inequality – involving both income and wealth concentration – has risen in nearly all world regions since the 1980s.