CIMB posts record Q2 earnings
One of the country’s major bank networks, CIMB Group Holdings Bhd recently announced their improvement of earnings by 9.1% to a new record of RM970.01million for the second quarter (Q2) that ended recently in June 30. Comparatively, the banking group recorded earnings of RM889.46million for the same quarter in 2010 and this was widely contributed by the local consumer banking services segment as well as the CIMB Niaga’s high growth rate. Read more
Prince Court Medical Centre continues to operate losses, RM654million in last 2 years
Prince Court Medical Centre Sdn Bhd, one of the most prestigious medical centres in the Klang Valley has reported a net loss of RM451million after recording a revenue of RM82million for the financial year ending April 30, 2011.
The medical center is a wholly owned subsidiary of national oil and gas company Petronas (Petroliam Nasional Bhd) is located in the heart of the Klang Valley where it reported that they had non-current liabilities of RM714.3million while current liabilities were at RM35.1million. Read more
Plenitude 4Q net profit down by 19.5%
One of the major property developers in the country, Plenitude Berhad has recorded a net profit of RM22.2million for the fourth quarter of its current financial year. This is a 19.5% drop as compared to the corresponding quarter last year. This was due to the lower progressive profit from its properties sold, completed and handed over. Read more
Telekom Malaysia posts higher earnings thanks to internet and multimedia services
National telecommunication company, Telekom Malaysia Bhd reported a 2.3% increase in its earnings for the second quarter (Q2) for the current financial quarter ending June 30, 2011 where they recorded RM127.24 million as compared to the corresponding quarter when they recorded earnings of RM124.38 million. This was made possible by its Internet, multimedia and data services where revenue reached RM2.23billion from last year’s RM2.15billion, which translates to 3.8%. Meanwhile, its earnings per share were RM3.60 sen as compared to RM3.50 previously. Read more
SapuraCrest, Kencana merger to become fifth largest O&G service provider in the world
The proposed merger of 2 of the country’s major oil and gas companies SapuraCrest Petroleum Berhad (SapuraCrest) and Kencana Petroluem Berhad (Kencana) will be a move towards creating a single entity which will be expected to be a major player in the international market. The merger which is currently on track into becoming a reality will enable the company to compete for more capital intensive projects with other oil companies. Read more
MAS records Q2 loss, trend likely to continue
National carrier MAS (Malaysia Airlines) has recorded a net loss of RM526.8 million loss in its second quarter. The loss for the second quarter ending June 30 was however better as compared to the corresponding quarter last year when it recorded a net loss of RM534.73milloin. This is despite the 8% growth of its overall revenue for the same quarter which stood at RM3.49billion. Read more
Newly merged Sunway to expand overseas investments
Sunway has announced that they are expecting to work on and expand their overseas investments and that the projects are targeted to contribute 30% of the turnover in the next coming 5 years. The group is the newly merged company of its subsidiaries namely Sunway City and Sunway Holdings which were recently delisted from Bursa Malaysia. Read more
Axiata’s record higher profit through improved performances from subsidiaries
Axiata, the regional mobile telephone operator has reported a net profit of RM663.05 million for its current financial year’s second quarter (Q2) ending June 30, 2011. This is translated to 14.94% increase as compared to the second quarter of 2010 and is widely contributed by better performance and higher revenue from its key operating companies. Read more
AirAsia records lower profit in Q2
For the second quarter ending June 30, 2011, budget carrier AirAsia has recorded lower profit of 47% lesser than the corresponding year of 2010. It recorded an RM104.26 million while in 2010’s Q2, AirAsia recorded a profit of RM198.93million. The company also recorded a lower operating profit of 3.5% due to higher costs in staffing as well as fuel. Read more
Petronas to work with partners in RM15bil gas project
National oil and gas company Petronas (Petroliam Nasional Bhd) announced that they have embarked on an RM15 billion project with its PSC (Production Sharing contract) partners. This would be an upstream project where they will be extracting gas from fields off the Peninsular Malaysia and will also involve building a 200km pipeline. According to Petronas, the project will cover the 9 discovered gas filed in the Bargading area which is located about 300km off the Peninsular’s coast. Read more