Hong Kong inflation rockets to 7.9%, a 16-year high
In the latest regional reports, the inflation rate in Hong Kong has hit a 16 year high in July. This situation is expected to continue and the Hong Kong Government has that it would not be resolved anytime soon.
According to the official figures which were released earlier this week, consumer prices shot up to 7.9% as compared to the year before and this rate is the highest recorded since November 1995 when consumer prices were at 8.4%. 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
Global shares sell-off will continue without any short-term remedy on crisis
Following last week’s market performance, analysts believe that the current sell-off in global shares will likely to continue and that will continue to affect the local share market. The current Eurozone debt crisis has not shown any sign of slowing down but instead seemed to be slowly developing into becoming a major problem in the continent and the global economic recovery too have not been on the verge of ending anytime soon have prompted global sell-off of stocks. And this will only worsen the situation where the recovery period will be prolonged. Read more
Oil prices expected to drop with overthrow of Gadhafi government
Should the Libyan rebels succeed in overthrowing the Moammar Gadhafi’s regime, then market analysts believe that it would affect the global oil prices directly. This came in the wake of the latest development when rebel forces entered Tripoli with minimal resistance where they also overran a major military base which was supposed to defend the city. In the line of fire, Gadhafi’s son, Seif al-Islam was captured and gave fresh speculation that Gadhafi’s government is on the brink of falling. Read more
MAHB recording healthy growth
The operator of airports in the country, MAHB or Malaysia Airports Holdings Berhad’s ‘Runway to Success’ business strategy is in its second year of operation and it is seen by many to be on its way to resounding success. This is part of the 5 year road-map embarked by MAHB to become a world-class airport business company which will focus on the 3 main thrusts namely traffic growth, service excellence and commercial development and the market sentiments of the GLC has been very positive. Read more
PLUS records 28.6% profit for Q2
For the second quarter (Q2) ending June 30, 2011, major highway operator PLUS Expressway Bhd recorded profit of RM383.49 million from the same quarter last year when the company recorded total earnings of RM297.86 million. The 28.7% increase in earnings was boosted by increase in toll collection which amounted to RM41.10million. Read more
Firms from EU very interested to work with Malaysian green tech companies
According to David Jones, he chairman of the EUMCCI (European-Malaysian Chamber of Commerce and Industry), the recent Eurozone debt crisis will not dampen the efforts of companies from Europe to bring green technology into Malaysia. He said that the favourable regulatory framework and policies offered by the Malaysian government and the young and growing green industry here are main factors why European companies are very interested in working with local companies in this sector. Read more
