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.
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.
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.
The optimism level of Malaysian business confidence has risen to 6 per cent which is a major improvement compared to a year ago at -36 per cent, according to the International Business Report (IBR) by Grant Thornton, reported by The Star.
The quarterly business survey which covered 2,500 businesses in 36 economies showed the ASEAN region’s optimism level was performing at its best at 58 per cent, the highest since 2011. The survey revealed that high levels of confidence are driven particularly by surges in Indonesia for 100 per cent, as well as the Philippines at 86 per cent, where optimism has risen by 12 percentage points (12pp) and 6pp. The report stated that the global business optimism is at a positive level too, being at its highest level ever at 58 per cent.
Grant Thornton Malaysia Country Managing Partner Datuk NK Jasani said in the statement that optimism level in Malaysia has boomed, which is at the highest since 2014, despite being the lowest level among ASEAN countries. “In the country, the signs of confidence can be seen as the survey revealed that 62 per centbusiness owners are expecting an increase in revenues up to 22pp from the third-quarter (Q3) in 2017. “Also, 44 per cent of business owners are expecting an increase in exports for the year ahead which is up to 10pp from the same period, which is the highest in ASEAN,” said Jasani. The Managing Partner also said that 58 per cent of business partners are expecting an increase in profits, up to 46pp from Q3 in 2017 and 30 per cent of business owners are looking to increase in selling prices, up to 14 pp from the same period.
The bond market is expected to remain robust this year, with RM90 billion to RM100 billion of gross corporate bond issuance to take place, said RAM Rating Services Bhd (RAM Ratings) in a report by The Star on Jan 25, 2018.
“The strong corporate bond issuance is driven by a healthy pipeline of issuances from the financial institutions and infrastructure, as well as utility sectors which have traditionally issued the largest share of the market’s corporate bonds,” said RAM Ratings Services Bhd Head of Research Kristina Fong.
The latest RAM’s Bond Market Monthly stated that in 2017, the gross issuance of corporate bonds hit a record high of RM124.9 billion, surpassing its expectation of RM105 billion to RM115 billion.
“The robust issuance in 2017 was supported by both sub-segments of the corporate bond market – quasi-government and private, which posted double-digit year-over-year rates of 46.1 per cent and 45.6 per cent respectively,” it said.
The Edge reported that Affin Hwang Asset Management Bhd (Affin Hwang AM), an asset management entity is on track to meet its RM50 billion assets under administration (AUA) target by 2018.
In a company update briefing, Affin Hwang AM said charting one of the strongest growth trajectory in the company’s history, the company’s AUA grew by over RM 11 billion last year to reach RM47.3 billion as at Dec’17.
“This is an achievement that is both humbling and exciting for us, but never taken for granted. As an asset management player that puts integrity at the forefront of our core values, we will continue to manage our clients’ wealth responsibly through their hard-earned trust.
“We aim to sustain our growth momentum by building on our existing capabilities and knowledge-base to harness operational efficiencies within the company,” Teng said.
Assets under administration is the value of assets that a third-party administrator or entities provide services for, which include taxes, accounting, and custody of assets.
Japanese cryptocurrency exchange, CoincheckInc had on Friday experienced one of the biggest heist in history to the tune of USD$500 million.
Three days later, the theft of nearly USD$500 million in digital tokens is still reverberating through cryptocurrency markets and policy circles around the world.
The episode, disclosed by Coincheck executives at a hastily arranged press conference on Friday night, comes at an awkward time for Japanese regulators, who began rolling out a new licensing system for cryptocurrency venues just a few months ago. It has heightened calls for closer oversight and may influence a closely watched debate in neighboring South Korea over whether to ban digital-asset exchanges outright.
While Bitcoin and its ilk have mostly recovered from their selloff on Friday — thanks in part to Coincheck’s assurances over the weekend that customers would be reimbursed — market observers say concerns over security lapses at cryptocurrency exchanges are likely to persist. They may even push some investors toward peer-to-peer methods of trading that don’t rely on centralized platforms.
Chinese conglomerate Dalian Wanda Group’s revenue fell by 10.8 percent in 2017, the second consecutive year it declined, as the debt-laden group sold off property assets and faced increasing scrutiny from regulators and lenders.
The property-to-entertainment group, owned by tycoon Wang Jianlin, reported 227.4 billion yuan ($35.54 billion) in revenue for last year, while net profit remained flat compared with 2016, according to a statement posted on the company’s website on Saturday. It did not reveal the profit figure.Total assets, of which 93 percent are domestic, declined 11.5 percent to 700 billion yuan.The group came under pressure last year from a government crackdown on perceived risky spending overseas and high levels of corporate debt.
Banks heightened their scrutiny and ratings agencies downgraded its property unit to junk status.The Chinese conglomerate is expected to announce the sale of two Australian property projects in the coming days, sources have told Reuters, the latest in a string of asset sales as the firm looks to reduce its portfolio after a major acquisition spree.