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MISC 2Q earnings hit by impairment loss

MISC Bhd’s earnings for the second quarter ended June 30, 2020 (2Q20), fell 29.09% year-on-year (YoY) to RM299.5 million as the energy logistics provider took a heavy toll from recognition of impairments due to the impact of the Covid-19 pandemic and the downturn in the oil and gas (O&G) sector.The reduction in profit was mainly due to the recognition of an impairment loss amounting to RM300 million on property, plant and equipment, and right-of-use assets at its heavy engineering segment.Revenue for the quarter was up 1.1% YoY at RM2.19 billion due to higher contributions from its petroleum segment following improved freight rates and higher-earning days in the liquefied natural gas (LNG) segment. ....

Yee Yang Chien , Petroliam Nasional Bhd Petronas , Movement Control Order , Malaysian Rating Corp Bhd , Yang Chien , Rating Corp Bhd , Petroliam Nasional Bhd , யீ யாங் சீன் , பெட்ரோலியம் நேஷனல் ப்ட் பெட்ரோனாக்கள் , இயக்கம் கட்டுப்பாடு ஆர்டர் , மலேசியன் ரேடிஂக் கார்ப் ப்ட் , யாங் சீன் , ரேடிஂக் கார்ப் ப்ட் , பெட்ரோலியம் நேஷனல் ப்ட் ,

All hopes pinned on the National Recovery Plan


TO many quarters now, any talk of a recovery from Covid-19 would seem like fluff.
For almost two years, the world and Malaysia in particular have been mired in a pandemic that seems to be neverending, with many stops and starts of movement control orders (MCOs).
The damage caused by the virus outbreak has not only affected lives, but has also cost hundreds of billions of ringgit in losses for the Malaysian economy.
Even if there were to be a recovery, some industries will never be the same again, such as food and beverage, hospitality and perhaps even manufacturing and plantations, the two staple economic growth drivers of Malaysia. ....

Kuala Lumpur , United Kingdom , Firdaos Rosli , Muhyiddin Yassin , Shah Alam , Khairy Jamaluddin , Saileshk Jha , Geoffrey Williams , Bank Bhd , Immunisation Programme , National Recovery Plan , Statistics Department , Malaysian Rating Corp Bhd , Malaysia University Of Science , National Covid , Provident Fund , Prime Minister Tan Sri Muhyiddin Yassin , Field Hospital , Klang Valley , Malaysia University , Employees Provident Fund , Programme Coordinating Minister , Categories Four , குவாலா லம்பூர் , ஒன்றுபட்டது கிஂக்டம் , ஷா ஆலம் ,

Bridging the gap


PETALING JAYA: Malaysia needs to undertake massive infrastructure investments to turbo boost the growth of its economy that has been slowing down in the past two decades.
Unlike previous infrastructure projects that were largely concentrated in Klang Valley, the future projects should be dispersed throughout the country to create an even distribution of economic prosperity.
According to Malaysian Rating Corp Bhd (MARC) chief economist Firdaos Rosli(pic below), the infrastructure investments also need to take into account the local population’s accessibility to basic infrastructure such as piped water, stable high-speed Internet and proper shelter.
According to Malaysian Rating Corp Bhd (MARC) chief economist Firdaos Rosli(pic), the infrastructure investments also need to take into account the local population’s accessibility to basic infrastructure such as piped water, stable high-speed Internet and proper shelter ....

United States , Malaysia General , Firdaos Rosli , Pakatan Harapan , Malaysian Rating Corp Bhd , Klang Valley , Financial Crisis , Shared Prosperity Vision , Malaysia Plan , New Economic Policy , ஒன்றுபட்டது மாநிலங்களில் , மலேசியன் ரேடிஂக் கார்ப் ப்ட் , கிளாங் பள்ளத்தாக்கு , நிதி நெருக்கடி , பகிரப்பட்டது ப்ராஸ்பெரிடீ பார்வை , மலேசியா திட்டம் , புதியது பொருளாதார பாலிஸீ ,