OSK Holdings Bhd registered a net profit of RM115.09 million, or earnings per share of 5.58 sen, in the first quarter ended March 31, 2023 (1QFY2023), a 36.3% increase from RM84.44 million or 4.09 sen per share a year before.

OSK kicks off FY2023 on strong note

YNH Property Bhd’s land deal with Sunway Group Bhd seems to have hit a stumbling block as Bursa Securities has raised more questions on the transaction.

On May 16, YNH Property announced that it was disposing of a piece of land measuring 5.09 acres in Desa Sri Hartamas to Sunway’s wholly-owned subsidiary Sunway Living Space Sdn Bhd for RM170 million cash.

YTL Corp posts flat 3Q net profit

Genting Bhd posted a net profit of RM98.04 million in the first quarter ended March 31, 2023 (1QFY2023), versus a net loss of RM199.68 million a year before, on the back of better contribution from the leisure and hospitality division as a result of ongoing recovery in regional travel and gaming demand after the relaxation of Covid-19 restrictions.

Genting returns to black in 1Q with RM98 mil net profit

Dutch Lady Milk Industries Bhd’s net profit fell 58.58% to RM8.52 million or earnings per share of 13.3 sen in the first quarter ended March 31, 2023 (1QFY2023), from RM20.57 million or 32.1 sen in the same quarter last year, as it was hit by the unprecedented increase in the cost of dairy raw materials and negative impacts of exchange rates predominantly against the US dollar, despite higher revenue in the current quarter.

Unprecedented increase in cost of dairy raw materials weighs on Dutch Lady's 1Q earnings 

KUALA LUMPUR (May 25): Genting Malaysia Bhd (GenM)’s net loss narrowed 69.29% to RM27.38 million for the first quarter ended March 31, 2023 (1QFY2023), from RM126.53 million a year earlier, boosted by improved contribution from its leisure and hospitality segment. Loss per share fell to 0.48 sen from 2.24 sen.

GenM’s 1Q net loss narrows 69% on better leisure and hospitality segment contribution

Petron Malaysia Refining & Marketing Bhd posted a flat net profit at RM108.73 million or earnings per share of 40.3 sen for the first quarter ended March 31, 2023 (1QFY2023) from RM106.38 million or 39.4 sen per share.

This was due to the fall in crude oil prices though stable demand helped to cushion the decline.

Flat 1Q profit for Petron Malaysia as oil prices soften

SAM Engineering & Equipment (M) Bhd’s net profit fell 11.8% to RM19.19 million for its fourth quarter ended March 31, 2023 (4QFY2023) from RM21.76 million a year earlier, due to lower contribution from its equipment business segment.

SAM Engineering declares lower dividend after 4Q net profit falls 12%

Danny Leong Kah Chern has relinquished his role as  Revenue Group Bhd's group chief executive officer (CEO), after assuming the position for about five months

He will continue to serve the group as its advisor effective Wednesday (May 24), the payment solution provider said in a bourse filing.

Revenue Group's Danny Leong relinquishes CEO role

Tan Chong Motor Holdings Bhd posted a lower net loss of RM5.07 million for the first quarter ended March 31, 2023 (1QFY2023), against RM19.52 million a year ago, on the back of higher contribution from its automotive division due to a favourable sales mix and lower operating expenses which resulted in better margins.

The group pointed to a one-off legal compensation of RM17.1 million charged out in the same period the preceding year.

Tan Chong's 1Q net loss narrows on favourable sales mix, declares 1 sen dividend

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

Yellen counsels caution on currency intervention after yen surge

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Labour mayor wins cap triumphant election run for Starmer

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

Paytm appoints new executives as COO resigns

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

Warren Buffett says taxes may rise to offset widening US deficits

Warren Buffett assured Berkshire Hathaway shareholders on Saturday that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker.

Buffett says Berkshire in good hands, lauds Apple despite lowering stake

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Ping An votes against reappointment of HSBC CEO as director — Reuters

Mathew Ngau Jau is not a fan of hectic city life, though there is certainly something to smile about as he visits Kuala Lumpur this week for a very special recognition at the 19th Boh Cameronian Arts Awards (BCAA).

Treasure of Borneo

In the May 6 issues of City & Country, the cover story features Eastern & Oriental Bhd’s (E&O) Andaman Island in Penang. The reclaimed island project is taking shape and will come in two phases. Phase one covers 253 acres, while phase two will cover 507 acres. Reclamation work for phase one started in 2015 and was completed in December 2019. Work on phase two is ongoing, with the entire reclamation exercise set to be completed by December 2028.

Developing community living sustainably

Communications Minister Fahmi Fadzil on Saturday said the Cabinet has not discussed about a price hike for petrol and diesel yet.

Fahmi: Foreign media reports not true as Cabinet yet to discuss price hike for petrol and diesel

Hong Kong issued its first red rainstorm warning of the year on Saturday as downpours caused flooding in areas of the territory, shutting roads and disrupting public transportation.

Hong Kong issues 2024’s first red storm signal amid flooding