The Group targets an absolute cost reduction of around RM500 million or 5% for FY20 through rigorous cost optimisation measures to mitigate the challenging economic environment.  – 1H20 PBT of RM910 million and Net Profit of RM785 million with lower annualised ROE of 2.8% due to elevated loan provisions and…

KUALA LUMPUR, Aug 28 (Bernama) — August 31st is the great national holiday of Malaysia and Kyrgyzstan, two countries with a long history of friendship and cooperation.Even though Malaysians live in the most southeastern part of Asia and are separated with Kyrgyzstan by thousands of kilometers, they are united by a single…

PETALING JAYA, Aug 28 (Bernama) — In line with the government efforts to leverage on digital skills in the age of technology, Machinery and Equipment Productivity Nexus (MEPN), fully supported by Malaysia Productivity Corporation (MPC) is introducing PRODUCTIVITY1010 (Productivity through Digitisation) via Business Virtual Mentoring Services (BVAM) to assist companies in developing individual digitisation…

• Disrupted supply and weaker demand affected manufacturing business, with heavy expenses thinning operating profits• Impairment loss recognised on asset held for disposal and investment property• Long-term business strategy and value creation plans expected to leap Group prospect beyond 2020. SHAH ALAM, Aug 28 (Bernama) — Kumpulan Perangsang Selangor Berhad (“KPS”…

KUALA LUMPUR, Aug 27 (Bernama) — The prolonged Covid-19 pandemic had a significant impact on UMW Holdings Berhad’s financial results for the first six months of 2020. The Group’s revenue reduced by 36.6% to RM3,648.9 million. The Group was also impacted by share of losses of RM44.1 million from one of…

Crowdsourcing solutions from the Rakyat to accelerate digitalisation of government services delivery in response to the change in operating conditions post COVID-19 Pandemic KUALA LUMPUR, Aug 28 (Bernama) — The Malaysian government will further accelerate the digitalisation of selective government services delivery in response to the ‘new normal’ brought about by COVID-19…

The new company will provide capital and advisory services to empower the digital asset mining ecosystem  DCG commits to $100 million investment in Foundry through 2021 NEW YORK, Aug 28 (Bernama-BUSINESS WIRE) — Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, today announced a new…

HONG KONG, Aug 28 (Bernama-BUSINESS WIRE) — CSOP Asset Management Limited (“CSOP”) is proud to announce the listing of CSOP Hang Seng TECH Index ETF (stock ticker: 3033.HK) on Hong Kong Stock Exchange. As the first ETF tracking the newly launched Hang Seng TECH index, CSOP Hang Seng TECH Index ETF…

ABIDJAN, Côte d’Ivoire, Aug 28 (Bernama-GLOBE NEWSWIRE) — Dr. Akinwumi A. Adesina has been re-elected to serve a second five- year term as President of the African Development Bank Group on Thursday, August 27, 2020 by the Board of Governors of the Bank. A globally renowned development economist and a…