Day: July 31, 2024

KUALA LUMPUR,, Lotte Chemical Titan Holding Bhd’s (LCT) net loss of RM248.88 million narrowed in the second quarter ended June 30, 2024 (2Q FY2024) against a net loss of RM313.47 million in the same quarter last year. In a filing with Bursa Malaysia, it attributed the narrowing of its net loss to lower sales volume, lower gross negative margin, and a lower write-down of inventories to its net realisable value. Revenue for the 2Q FY2024 declined to RM1.78 billion compared with RM1.86 billion a year ago. On a cumulative six-month basis, the group’s net loss fell 19 per cent to

KUALA LUMPUR,, Alliance Bank Malaysia Bhd (Alliance Bank) expects healthy loan growth between eight per cent and 10 per cent for the financial year 2025 (FY2025), driven by its small and medium enterprise, corporate and consumer banking segments. Alliance Bank group chief executive officer Kellee Kam said the bank is poised for strong growth as it sees favourable economic conditions in the country during the first half of 2024. ‘In the first two quarters, Malaysia’s gross domestic product grew pretty rapidly. Now, there are also further opportunities from the foreign direct investments that have been approved as well as the

KUALA LUMPUR,, The Inland Revenue Board of Malaysia (IRB) has launched the MyInvois portal, kicking off its implementation of e-invoicing effective Aug 1, 2024. In a statement today, the IRB said the move will strengthen the country’s taxation system, increase transparency, and provide a more accurate assessment of compliance risk. The statement said e-invoicing will be implemented in stages, with the first phase involving 5,000 companies with recorded annual revenue or sales exceeding RM100 million starting Aug 1, 2024. “The second phase will start on Jan 1, 2025, involving companies with annual revenue or sales of between RM25 million and

KUALA LUMPUR,, Infomina Bhd has accepted a letter of acceptance from the Ministry of Home Affairs, amounting to RM34.71 million. In a filing with Bursa Malaysia today, the technology company said the award is for the provision of technology application and infrastructure operations, maintenance and support services. The service is to provide key support to the ministry’s core application, including data and storage management, workload automation, report and spool management and holistic database analysis and management for three years commencing Aug 1, 2024, to July 31, 2027. “This is expected to contribute positively to the earnings of the Infomina group