<div class=newsTextDataWrapInner><p>SHAH ALAM (Dec 6): GD Express (GDex) Carrier Bhd is allocating higher capital expenditure (capex) of RM50 million for the financial year ending June 30,2019 (FY19), some 66.67% higher than it spent for FY18 (approximately of RM30 million).</p></div>

<div class=newsTextDataWrapInner><p>"We have much bigger allocation for the capex in FY19, which is close to RM50 million, its the biggest (spending) so far," Teong Teck Lean, GDex's managing director cum chief executive officer, told the press after the annual general meeting (AGM) here.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Of the total capex for FY19, the investment includes modernising its shipping hub, expanding vehicle fleets, opening new distribution networks, as well as technological advancement.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On its prospects for FY19, Teong sees a challenging year ahead for the company, mainly due to intense competition and rising pressure from operating costs.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>In its 1QFY19, the group reported a 18% year-on-year decline in net profit to RM6.47 from RM7.89 million — though revenue grew 8.35% to RM74.51 million from RM68.77 million.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Shares of GDex closed down one sen or 1.67% yesterday at 30 sen, giving the company a market capitalisation of RM1.58 billion.</p></div>


SHAH ALAM (Dec 6): GD Express (GDex) Carrier Bhd is allocating higher capital expenditure (capex) of RM50 million for the financial year ending June 30,2019 (FY19), some 66.67% higher than it spent for FY18 (approximately of RM30 million).

"We have much bigger allocation for the capex i...

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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.

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

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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>All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.</p>

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<p>The Nasdaq and the S&amp;P 500 ended lower on Friday as Netflix shares weighed, but American Express (AmEx) kept the Dow afloat after quarterly earnings from both companies, while growing pessimism that the Federal Reserve (Fed) would cut interest rates soon also dented sentiment.</p>


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<p>CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses. &nbsp;</p>

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<p>The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.</p>


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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>(April 19):&nbsp;Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.</p>


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<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>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".</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>
