Day: August 19, 2024

KUALA LUMPUR, Batu Kawan Bhd’s net profit for the third quarter ended June 30, 2024 (3Q) rose to RM131.03 million from RM82.80 million registered in the same quarter a year ago. Revenue in the quarter jumped to RM5.68 billion compared with RM5.35 billion previously, it said in a filing with Bursa Malaysia today. The company attributed the higher revenue to the performance of its plantation segment, where the profit jumped three-fold to RM369.37 million mainly due to higher crude palm oil (CPO) and palm kernel (PK) selling prices realised and sales volumes. The higher profit was also contributed by lower

KUALA LUMPUR, MIDF Amanah Investment Bank Bhd has maintained its forecast that Malaysia’s goods exports and imports will recover and grow at 5.2 per cent (2023: -8.0 per cent) and 11.2 per cent (2023: -6.4 per cent), respectively, this year. In a research note today, the bank said that the pickup in external demand for manufactured goods exports, including electric and electronic (EandE) components, along with other commodities, such as palm oil and natural gas, will support a rebound in exports this year. ‘Export growth accelerated to 12.3 per cent year-on-year (y-o-y) in July 2024, marking the fastest growth in

KUALA LUMPUR, The Asian Institute of Chartered Bankers (AICB) and its Compliance Officers’ Networking Group have organised a special two-day International Conference on Financial Crime and Terrorism Financing (IFCTF) Masterclass 2024 beginning today. The IFCTF Masterclass 2024, themed ‘Combatting Financial Crime and the Anti-Money Laundering (AML), Countering Financing of Terrorism (CFT), Countering Proliferation Financing (CPF): A Technical Deep Dive,’ offers Malaysian bankers an immersive experience in financial crime, fostering collaboration and innovative thinking through sessions led by distinguished global and regional experts. AICB Chairman Tan Sri Azman Hashim said it is crucial to cultivate the banking workforce’s ability to anticipate,

KUALA LUMPUR, A robust gross domestic product (GDP) growth of 5.9 per cent in the second quarter of 2024 is a positive indicator that Malaysia is on track to achieve its GDP projection of around 4.0 to 5.0 per cent for the year. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said in a post on X today that among the factors contributing to the GDP growth in the second quarter was a significant increase in private investment, as investors are increasingly confident about the country’s economic prospects. ‘Private investment increased by 9.2 per cent in

KUALA LUMPUR, Malaysia’s January-July trade in 2024 grew by 9.8 per cent year-on-year (y-o-y) to hit RM1.652 trillion, the highest value recorded for the period, said the Investment, Trade and Industry Ministry (MITI). Exports increased by 5.1 per cent to RM862.23 billion and imports by 15.5 per cent to RM789.71 billion during the seven months, resulting in a trade surplus of RM72.52 billion, it said in a statement today. Exports of manufactured goods expanded by 4.8 per cent y-o-y to RM735.76 billion owing to solid exports of machinery, equipment and parts, iron and steel products as well as manufactures of

KUALA LUMPUR, The Securities Commission (SC) Malaysia has updated its Investor Alert List to include three unauthorised entities as well as one potential clone entity. In its post on X today, the SC said the unauthorised entities were Minos Markets Ltd, ZFinances and Cikgu Syahmi Academy. The regulator also urged investors to beware of a potential clone entity posing as a legitimate entity. ‘A potential clone entity called ‘Bursa Malaysia Biz’ has misused the name and credentials of Bursa Malaysia Bhd, an exchange company under the purview of the SC and the Ministry of Finance,’ it said. The SC also