Category: Business

KUALA LUMPUR,, Global commercial air passenger traffic for the aviation industry, measured in revenue passenger-kilometres (RPK), remained on its steady growth trend in June 2024, rising 9.1 per cent year-on-year (y-o-y). In a statement today, the International Air Transport Association (IATA) said total capacity, measured in available seat kilometres (ASK), was up 8.5 per cent y-o-y, while June load factor was 85 per cent (+0.5 percentage points (ppt) compared to June 2023). ‘International demand rose 12.3 per cent compared to June 2023. Capacity was up 12.7 per cent y-o-y, and the load factor improved to 85 per cent (-0.3 ppt

KUALA LUMPUR,, The Retirement Fund Inc (KWAP) plans to increase its international investment exposure to 30 per cent by 2025 although the local market has recently showed an improved performance. Chief investment officer Hazman Hilmi Sallahuddin said that as of 2023, 24.4 per cent of KWAP’s investment assets were allocated internationally. “We are currently on track. The local market is much better than before, but in the long term, we aim to balance our investment exposure to 70 per cent local and 30 per cent international, which we believe is more sustainable,” he said during KWAP’s financial year 2023 performance

KUALA LUMPUR,, Global credit rating agency, AM Best has maintained a stable outlook on Vietnam’s non-life insurance segment, citing accelerating non-life premium growth and increased demand for commercial lines insurance. In its latest Best’s Market Segment Report, ‘Market Segment Outlook: Vietnam Non-Life Insurance’, the rating agency notes the country’s Insurance Business Law as a recent regulatory refinement supporting the stable outlook, as the newly adopted requirements on risk management, internal controls, internal audits and actuarial standards are expected to enhance risk governance and strengthen financial conduct. Property insurance was a key business growth driver in 2023, in which government spending

KUALA LUMPUR,, Global commercial air passenger traffic for the aviation industry, measured in revenue passenger-kilometres (RPK), remained on its steady growth trend in June 2024, rising 9.1 per cent year-on-year (y-o-y). In a statement today, the International Air Transport Association (IATA) said total capacity, measured in available seat kilometres (ASK), was up 8.5 per cent y-o-y, while June load factor was 85 per cent (+0.5 percentage points (ppt) compared to June 2023). ‘International demand rose 12.3 per cent compared to June 2023. Capacity was up 12.7 per cent y-o-y, and the load factor improved to 85 per cent (-0.3 ppt

KUALA LUMPUR,, Bintai Kinden Corporation Bhd (BKCB) has announced that the group has successfully restructured and rescheduled all of its defaulted banking facilities with its financiers with the aim of uplifting its PN17 status. The engineering services specialist company said it has made substantial progress through strategic initiatives including securing a robust order book, negotiating favourable terms with banks and creditors, implementing cost-cutting measures, finalising outstanding projects and ensuring timely debtor payments. ‘These efforts have been critical in driving the company towards recovery,’ it said in a Bursa Malaysia filing today. On July 30, 2024, BKCB received Maybank’s approval for