The start-up blacksmith Rocket Internet from Berlin keeps an eye on the profit zone for certain holdings after further reduced losses in 2017. “For 2018, we expect further progress,” said CEO Oliver Samwer on Friday. Specifically, he did not want to commit himself, however, from what time which money should contribute to the coffers.
“Most companies are strong enough to formulate their own goals.” The past year has been very successful, emphasized Samwer. Rocket had failed to reach the goal of bringing three of his companies to profitability.
HelloFresh and Delivery Hero want in the black
The cooking box sender HelloFresh and the food delivery service Delivery Hero announced in recent weeks that they want to hit the black in the current business this year. Both companies have been listed since last year. According to media reports, the furniture retailer Home24 and the African retailer Jumia go public, but Samwer did not want to comment on that.
Continue reading “Rocket Internet has an eye on the 2018 profit zone”
Air China Ltd yesterday posted its strongest profit since 2011, albeit missing analyst forecasts, as a strong cargo market and appreciating yuan helped boost earnings.
The earnings miss, however, caused its Hong Kong shares to slide more than 3 per cent to their lowest since early February, with analysts saying that the operating costs posted by China’s flag carrier were surprisingly on the high side.
Air China’s results showed 2017 profit attributable to shareholders rose 6.3 per cent from a year earlier to 7.24 billion yuan (RM4.44 billion).
That compared with the 9.22 billion yuan average of 17 analyst estimates in a Thomson Reuters poll. Revenue rose 7.7 per cent to 121.4 billion yuan.
Continue reading “Air China records stellar profits boosted by cargo market and stronger yuan”
Individuals who are resident and with employment income must submit their taxes by April 30. Failure to do so by the stipulated date will result in penalties.
The earlier you submit your returns, the faster you will get your refunds (if any).
Here’s a guide that you can refer to for filing personal income tax claims for the Year of Assessment 2017. But before you proceed with doing so, you want to know…
If you are a resident of Malaysia earning :
- Above RM34,000 per year (after EPF deductions) or RM2,833. 33 per month (after EPF deductions)
- Above RM38,202.25 per year (before EPF deductions) or RM3,183.52 per month (before EPF deductions)
Continue reading “The tax filing season cometh”
Malaysia’s government debt to gross domestic product ratio of 51 per cent is “quite high” compared with other countries with an “A” sovereign credit rating, Moody’s Investors Service said.
But the saving grace was that the debt was largely denominated in ringgit, mitigating external risks to the Southeast Asian nation.
“Just to put things into perspective, Malaysia’s government debt-to-GDP is about 51 per cent and the median for A-rated sovereigns is 41 per cent,” Moody’s sovereign risk analyst Anushka Shah said.
“When you look at the debt profile, we find that almost all the debt – about 97 per cent – is funded in the local currency and that acts as a mitigating factor in the event there is a currency or interest rate shock,” she told a media briefing .
Continue reading “Malaysian government debt quite high, says Moody’s”
Nestle (Malaysia) Bhd posted its highest fourth-quarter net profit of RM133.54 million on the back of continued sustainable cost management and different phasing of marketing investments in 2017.
According to The Edge, its net profit for the financial year 2017 (FY17) was RM645.8 million, up 1.36 per cent from RM637.13 million in FY16, while its revenue climbed 3.89 per cent to RM5.26 billion from RM5.06 billion in FY16.
The group also proposed a final dividend of RM1.35.
However, despite the good results, analysts view were mixed on Nestle’s ratings.
Continue reading “Analysts mixed on Nestle’s ratings despite it hits record high after posting 4Q results”
Felda Global Ventures Holdings Bhd’s (FGV) earnings jumped 356 per cent to RM143.73 million in the financial year ended Dec 31, 2017 (FY17) compared to RM31.46 million in the previous year.
The Star reported that the strong results were underpinned by its improved performance from the plantation as well as logistics and other (LO) sectors.
The world’s largest producer of crude palm oil (CPO) said its pre-tax profit increased by 60 per cent to RM417 million from RM260 million previously.
“The plantation sector registered a significant improvement with a profit of RM554mil from RM234mil in the previous year,” group president and chief executive officer Datuk Zakaria Arshad said in a filing with Bursa Malaysia.
Continue reading “FGV’s posts stellar earnings in 2017”
China and Japan are the only two countries left in the race to win the bidding for the massive high-speed rail transportation project that will link Kuala Lumpur to Singapore, said the klhighspeedrail.com portal.
However, the question we may ask is whether the other competitors seem to have simply accepted the fact that they are out of the race?
While most sources are pointing to Japan as the leading party in the bidding.
The Today Online portal in Singapore said Japan Rail, Japan Bank for International Cooperation and NEC Japan are the companies that are leading the bidding from Japan.
It also said it had been previously reported that Hong Kong’s MTR Corporation was also interested in partnering with China Railway Corporation to bid for a contract.
Continue reading “HSR bidding down to two-horse race: where are the others?”
Naza TTDI Sdn Bhd, the property arm of Naza Group, achieved sales of RM815 million last year, which marked its best performance ever in five years.
The Edge reported that this year, it is targeting lower sales of RM745 million amid overall weak consumer sentiments.
“We will focus on sales from the Met 1 component located in KL Metropolis; an en-bloc office tower; TTDI Sentralis, a mixed-use development located in Shah Alam and from the soon to be launched TTDI Ayana residential development at Kwasa Damansara,” said its executive director and chief operating officer Datuk Idzham Mohd Hashim in a statement on Feb 2.
Nevertheless, Naza TTDI is upbeat for the future as it has RM1 billion worth of unbilled sales that will help it stay ahead.
Continue reading “Naza TTDI sees opportunities for year ahead”
Automotive stocks will remain bullish if the ringgit recovery against US dollar maintained its momentum, The Star reported.
These stocks could add on to picks up if buyers feel better about the economy and thus increase spending on first-class things.
Recently, Grant Thornton’s quarterly business survey reported that business leaders in Malaysia saw their confidence rising by 6 per cent in the fourth-quarter of 2017 which is a positive recovery from 36 per cent a year ago.
The survey revealed that 58 per cent of business owners are anticipating an increase in profits which is up to 46 percentage points from the third-quarter of last year.
Continue reading “Auto stocks to benefit from strong Ringgit”
NEW YORK, — Stronger iPhone prices and hints by Apple Inc yesterday that it could return more than half of its US$285 billion (RM1.11 trillion) in cash to shareholders eased concerns among investors, even as the world’s biggest technology company gave a disappointing revenue outlook for the current quarter.
Apple also reported it sold fewer iPhones over the holiday quarter than Wall Street had expected.
But the revenue outlook for the first three months of 2018 “was not as bad as some feared,” said Jun Zhang of Rosenblatt Securities Inc. Apple’s comments about plans for its US$163 billion in net cash helped boost shares 3.3 per cent to US$173.48 in after-the-bell trading.
“Over time, we are trying to target a capital structure that is approximately net neutral. We will have approximately the same level of cash and debt on the balance sheet,” Apple’s chief financial officer, Luca Maestri, told Reuters in an interview.
Continue reading “Higher iPhone prices, plan to return cash to shareholders support Apple share price”