by Glenn CHAPMAN / with Rob Lever in Washington / AFP Twitter said Friday the account of chief executive Jack Dorsey had been “compromised” after a series of erratic and offensive messages were posted. The tweets containing racial slurs and suggestions about a bomb showed up around 2000 GMT on the @jack account of the […]

China’s manufacturing activity contracted for a fourth month in a row in August, official data showed Saturday, as the US stepped up tariff pressure and domestic demand slowed. On Sunday, the US is expected to hit billions of dollars worth of Chinese products with 15 percent duties, in a sharp escalation of a bruising trade […]

Malaysian low-cost airline AirAsia X has ordered 42 Airbus aircraft worth a total catalogue price of five billion dollars, Airbus said Friday. The Malaysian carrier has placed a firm order for 12 long-range A330neo planes and 30 medium-range A321XLR models, the European aircraft manufacturer said in a statement. Major purchases are often finalised at a […]

CIMB Group Holdings Berhad today reported a Profit Before Tax (“PBT”) of RM3.56 billion for the first half of 2019 (“1H19”). The 8.7% year-on-year (“YoY”)increase was underpinned by stronger operating income and a 15.7% YoY decline in loan loss provisions, with an 8.7% YoY increase in operating expenses.  The Group’s 1H19 net profit was 14.5% higher YoY at […]

President Rodrigo Duterte will bring up territorial issues in his Beijing meeting with Chinese President Xi Jinping, the Philippines ambassador said on Thursday, as tensions rise over claims to the South China Sea. The Filipino leader faces growing pressure at home to confront China over its aggressive approach to upholding its contested territorial claims in […]

The United States must observe a landmark nuclear deal and halt “economic terrorism” against Iran if it wants to hold talks, the Islamic republic’s foreign minister said Thursday. Tehran and Washington have been locked in a bitter standoff since last year when US President Donald Trump unilaterally pulled out of the 2015 deal that gave […]

Maybank posted net profit of RM1.94bil in the second quarter ended June 30,2019 on a revenue of RM13.05bil and declared an interim dividend of 25 sen a share. Maybank is Southeast Asia’s fourth largest bank in size, and the largest bank in Malaysia. Maybank said the second quarter also recorded stronger earnings growth momentum compared […]

Axiata Group Bhd posted a net profit of RM204.09 million in the second quarter ended June 30, 2019 (2QFY19), from a net loss of RM3.36 billion in the corresponding quarter last year. Filings to Malaysia’s Bursa, shows reported 2QFY19 earnings per share (EPS) of 2.2 sen, from loss per share (LPS) of 37.1 sen in […]

by M. Jegathesan / AFP Malaysia’s ex-prime minister Najib Razak played a pivotal role in plundering state fund 1MDB and hundreds of millions of dollars were illicitly channelled to his bank account, a prosecutor said Wednesday at the opening of his biggest graft trial. Claims that Najib and his cronies pilfered massive sums from the […]

Ride-hailing giant Grab said on Wednesday it will invest $500 million over five years in Vietnam, the company’s latest expansion in a key Southeast Asian market.  The Singapore-based firm has grown rapidly since it ended a bruising battle with Uber last year by buying its US rival’s ride-hailing and food operations in the region. Grab, […]

Jalil Rasheed will be appointed as Permodalan Nasional Berhad’s (PNB) new President & Group Chief Executive with effect from 1 October 2019. Jalil is currently the CEO of the South Asian operations for Invesco, a leading global investment firm managing more than US$1.2 trillion across a multiple range of asset classes in over 25 countries. Previously […]

A merger could help the two companies confront declining cigarette sales.

Key Results: Revenue grew 14.8% to RM540.4 million Growth recorded across all core customer groups Profit before tax (pre-MFRS 16) grew 23.5% TIME dotCom Berhad (“TIME” or “the Group”) recorded revenue of RM540.4 million for the period ended 30 June 2019, representing a 14.8% year-on-year growth. Higher sales were recorded across all core product segments. […]

Huawei launched the latest addition to the nova smartphone series, the Huawei nova 5T, globally. The timing of this launch is critical, as Huawei and Apple are planning a massive mega-launch on their high-end offerings, the Mate series and the latest iPhones respectively. The high-end offering is expected to be done in September/October window, in […]

Sukuk (Islamic bond) issuance is set to rise 6% to around $130 billion this year, a fourth consecutive annual increase, Moody’s Investors Service said in a report. “Increased activity in Saudi Arabia and Malaysia helped drive strong issuance of $87 billion in the first six months and this has reduced funding needs,” said Nitish Bhojnagarwala, […]

Malaysian prosecutors Tuesday wrapped up the first of several cases against toppled leader Najib Razak over the plundering of 1MDB, a day before the start of his main trial linked to the scandal-hit fund. With the prosecution now finished, a judge will hear arguments from both sides in October and rule on November 11 whether […]

by Paul HANDLEY / AFP An Oklahoma judge on Monday ordered US health care giant Johnson & Johnson to pay $572 million in damages for its role in fostering the state’s opioid addiction crisis. In the first civil trial of a drugmaker over an epidemic that has caused hundreds of thousands of overdose deaths, Judge […]

Sime Darby has announced a second interim dividend of RM 0.07 sen per share and a special dividend of RM0.01 sen, is declared for FY2019. Together with the earlier interim dividend of RM0.02 sen per share, the total dividend for the year is RM0.10 sen per share. Sime Darby Berhad reported a net profit of […]

KEY HIGHLIGHTS  Turnover up by 2% to RM1.34 billion in the second quarter and 3.4% when adjusted for divestment of Chilled Dairy business. Robust domestic growth at 4.5% driven by innovation, strong festive sales and sustained consumer demand. Solid Profit After Tax at RM 156.9 million, even if slightly diluted vs Quarter 2, 2018, due […]

After former Malaysian Prime Minister Najib Tun Razak and his son Mohd Nazifuddin were sued by Malaysia’s Inland Revenue Board (IRB), his daughter has now been ordered to pay unpaid RM10.3 million (US$2.6 million) in income tax from 2011 to 2017. The Malaysian government as the plaintiff filed a writ of summons and statement of […]

Key highlights: Total income grew 3.9% Y-o-Y to RM3,519.0 million Pre-tax profit rose 6.4% Y-o-Y to RM1,664.7 million Operating expenses increased by 2.7%, cost-to-income ratio further improved to 48.5% from 49.1% a year ago Allowances for credit losses lower by 8.1% Y-o-Y Gross loans up 6.9% Y-o-Y to RM172.3 billion while domestic loans grew 6.6% […]

China’s yuan has sunk by around four percent in August to its lowest point in more than 11 years on Monday, a decline likely to further exacerbate trade tensions with Washington. Here are five things to know about the yuan’s slide: 1. Why has the yuan depreciated? Because China is allowing it to.  China limits […]

Indonesia will move its capital to the eastern edge of jungle-clad Borneo island, President Joko Widodo said Monday, as the country shifts its political heart away from congested and sinking megalopolis Jakarta. The proposed location — near the regional cities of Balikpapan and Samarinda — is an area at “minimal” risk of natural disasters, where the […]

The US and 10 Southeast Asian states will hold their first-ever joint maritime exercises in September, aimed at preventing “wrongdoing” as Washington and Beijing jostle for influence in the region. Washington has traditionally been the dominant naval power in Southeast Asia and its re-engagement with the area comes as a deteriorating trade war with China […]