BANKING stocks see-sawed this week on news that the government has instructed financial institutions to work on waiving interest repayment for recipients of loan moratoriums in the lower income category.
16 Jul 2021 / 21:37 H. PETALING JAYA: Berjaya Corp Bhd (BCorp) said its board of directors is not aware of any plan to privatise the group’s subsidiary Berjaya Land Bhd, sell Berjaya Sports Toto Bhd, and set up a hospitality real estate investment trust. The group clarified that the plans are personal idea and strategies of its CEO Abdul Jalil Abdul Rasheed. It explained that Jalil’s appointment was made to transform BCorp into an institutionalised group, managed by professionals. Jalil was mandated to relook at the BCorp structure and amongst others to improve synergies & efficiency, streamline the various group businesses and to transform BCorp into a high performing organisation.
BCorp unveils three-year strategic plan to streamline business, unlock value theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
(BToto) said net profit fell 62% in the March quarter to RM18.68mil on revenue of RM1.12bil due to Covid-19 restrictions. Sports Toto Malaysia Sdn Bhd, the group s principal subsidiary, registered a decrease in revenue and pre-tax profit of 36.1% and 65.1%, respectively. The lower revenue registered in the current quarter was mainly due to the implementation of the Second Movement Control Order (MCO 2.0) in all states in Malaysia except for Sarawak from Jan 13 to Feb 18. Even though Sports Toto outlets resumed operations on Feb 19, sales recovery was slower than expected due to weaker consumer sentiments and consumers being cautious in patronising sales outlets during the Conditional MCO period.
The Week That Was - Stimulus, PNB, Felda, Glove exports thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (Feb 23): Based on corporate announcements and news flow today, companies in focus tomorrow (Feb 24) may include: Nestle (M) Bhd, Petronas Chemicals Group Bhd, Perak Transit Bhd, IOI Corp Bhd, Leong Hup International Bhd, Sunway Construction Group Bhd, Petron Malaysia Refining & Marketing Bhd, ATA IMS Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Manulife Holdings Bhd, Frontken Corp Bhd, Samchem Holdings Bhd, Berjaya Sports Toto Bhd, Supermax Corp Bhd, Genting Malaysia Bhd and AT Systematization Bhd. Nestle (M) Bhd s (Nestle Malaysia) net profit for the fourth quarter ended Dec 31, 2020 ticked up 0.5% to RM132.47 million from RM131.82 million a year earlier. The group said its revenue registered a 3.1% increase to RM1.37 billion from RM1.33 billion a year ago, underpinned by sales in Out-of-Home channels as restrictions eased in the second half of the year under the Recovery Movement Control Order. Earnings per share increased marginally to 56.5 sen from 56.21 sen previously. Nestle also declared a third interim dividend of 92 sen per share totalling RM215.74 million for the financial year ended Dec 31, 2020 (FY20), to be paid on May 20, 2021. Cumulatively, this will bring total dividends for the year to RM2.32 per share. For FY20, Nestle Malaysia s net profit dipped to RM552.71 million from RM672.91 million a year ago, on the back of revenue of RM5.41 billion versus RM5.52 billion.
Trading ideas: Genting Malaysia, Kossan, Careplus, KPJ, Magnum, BToto thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (Jan 21): More betting outlets of number forecast operators (NFOs) throughout the country will be closed from tomorrow until Feb 4 as the government reimposed a Movement Control Order (MCO) on the remaining states in Peninsular Malaysia. This means all betting outlets in the country, except for Sarawak that has been placed under a Conditional Movement Control Order, will be temporarily closed. All three Magnum Bhd, Sports Toto Malaysia Sdn Bhd and Pan Malaysian Pools Sdn Bhd (Da Ma Cai) have each updated their respective official notices on their websites about the closure of their outlets in MCO 2.0 areas. Outlets in Kedah, Pahang, Perak, Perlis and Negeri Sembilan will be temporarily closed from tomorrow until Feb 4.
were touted as recovery plays following the potential dispensation of Covid-19 vaccines. However, the latest two-week travel restriction starting tomorrow may see lower NFO sales and reduced visitors to Genting Malaysia’s flagship integrated resort, Resorts World Genting (RWG). Maybank IB Research said it is cutting Genting Malaysia’s financial year 2021 earnings per share (EPS) by 58% following the MCO, which will be enforced in six states, including Selangor and Kuala Lumpur, which are RWG’s key markets. Individuals from these states will not be allowed to travel inter-state. “While most of RWG is located in Pahang, where a looser conditional MCO (CMCO) will be reimplemented, we gather that the great majority of day trippers – about 75% of total visitor arrivals – who visit RWG are from Selangor and Kuala Lumpur, ” the research firm said in a note yesterday.
KUALA LUMPUR (Dec 17): CGS-CIMB has overweight ratings on bank, healthcare, gaming, oil and gas, electronics manufacturing services (EMS), media and rubber gloves sectors, and underweight ratings on chemicals and transport. The research house said in a report that it likes the bank, gaming, oil and gas, EMS and media sectors for exposure to a recovering economy post-Covid-19. “We continue to like the gloves sector, as it is expected to deliver record earnings in 2021 due to strong demand for gloves following the Covid-19 outbreak. “However, as we had cautioned earlier, the key risk is that the rubber gloves is now a crowded trade given its stellar share price performance in 9M20 (first nine months of 2020). This, coupled with concerns over the treatment of its workers and potential new capacities coming on stream, has led investors to rotate out of the gloves sector into banks,” it said.