<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 21): Box-Pak (M) Bhd continues to bleed, hurt by its Myanmar operations and doubtful debts as its net loss widened more than four fold year-on-year to RM7.41 million or loss per share of 6.18 sen in its second quarter ended June 30, from RM1.71 million or a LPS of&nbsp;1.43 sen previously.</p></div>

<div class=newsTextDataWrapInner><p>Box-Pak attributed its poorer performance to an initial operating loss of RM3.5 million in Myanmar and impairment of doubtful debts amounting to RM2.4 million during the quarter.</p></div>

<div class=newsTextDataWrapInner><p>However revenue for the quarter rose 5.93% year-on-year to RM157.66 million from RM148.83 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For the cumulative six months, net loss jumped 79.83% to RM13.87 million from RM7.71 million a year ago. Revenue was 7.12% higher at RM307.56 million from RM287.12 million before.</p></div>

<div class=newsTextDataWrapInner><p>Looking ahead, Box-Pak said the competitive environment, coupled with currency volatility — the exchange rate between USD and ringgit — also poses a risk. “The new plant in Myanmar commenced operation in the first quarter of 2019. Since this is a greenfield project, the group can only anticipate positive contribution from this plant in 4 to 5 years upon commencement of operation.”</p></div>

<div class=newsTextDataWrapInner><p>Box-Pak shares were untraded today. Last traded at RM1.15, the company is valued at RM138.05 million.</p></div>


Box-Pak (M) Bhd continues to bleed, hurt by its Myanmar operations and doubtful debts as its net loss widened more than four fold year-on-year to RM7.41 million or loss per share of 6.18 sen in its second quarter ended June 30.

Box-Pak attributed its poorer performance to an initial operating loss of RM3.5 million in Myanmar and impairment of doubtful debts amounting to RM2.4 million during the quarter.

Box-Pak 2Q loss widens four-fold amid operational loss in Myanmar, impairments

The Madani government is committed to eradicating hardcore poverty in Sabah despite knowing the situation is quite complicated to resolve, said Prime Minister Datuk Seri Anwar Ibrahim.

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S P Setia Bhd has officially launched the LakePoint Complex commercial hub at the 1,235-acre freehold township of SetiaAlam Impian in Shah Alam on Saturday. The ceremony was officiated by the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

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The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.

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Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.

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Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

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Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

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<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


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<p>The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.</p>


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<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


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<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


<p>The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.</p>


<p>Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


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<p>S P Setia Bhd has officially launched the LakePoint Complex commercial hub at the 1,235-acre freehold township of SetiaAlam Impian in Shah Alam on Saturday. The ceremony was officiated by the Sultan of Selangor, Sultan Sharafuddin Idris Shah.</p>


<p>Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.</p>


<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


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<p>Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>
