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Share to Twitter Share to Linkedin An unprecedented 70 Scotch whisky expressions scored Double Gold at the 2022 San Francisco World Spirits Competition (SFWSC). Thirteen whiskies advanced to the various “sweeps” elimination rounds. Founded in 2000, the SFWSC is the oldest competition in North America and the largest spirits judging in the world. A total of 70 judges from around the world evaluated approximately 5,000 spirits over two weeks in April 2022. The competition is organized by the Tasting Alliance, an organization founded by Anthony Dias Blue, and in addition to the SFWSC includes spirit competitions in New York and Singapore and wine competitions in San Francisco and New York. In the Distiller’s Single Malt No Age Statement Category there were two finalists: Glen Scotia, Victoriana Cask Strength Single Malt Scotch Whisky, 54.2% ABV, 750 ml and Ardbeg, Uigeadail Single Malt Scotch Whisky, 54.2% ABV, 750 ml . Victoriana is a cask … [Read more...] about The World’s Best Scotch Whiskies: 2022 San Francisco World Spirits Competition

- A + A KUALA LUMPUR (May 17): No analysts who track Mr DIY Group (M) Bhd have advised clients to sell the stock, although the home improvement retailer's latest quarterly earnings came in below some expectations. Nonetheless, Mr DIY came under selling pressure on Tuesday. It fell 16 sen or 4.51% to RM3.39. Some attributed the selling to investors' reaction to the 19.5% drop in its net profit for the first quarter ended March 31, 2022 (1QFY22) to RM100.5 million from RM124.79 million a year ago, due to higher expenses as it opened more stores. Quarterly revenue, however, climbed 4.02% to RM905.16 million from RM870.18 million a year ago, driven by contributions from new stores, the company said in a bourse filing. It declared an interim single tier dividend of 0.7 sen per share (approximately RM44 million), representing a payout ratio of 43.8%, despite earnings contraction. While analysts described the lower quarterly profit as an unexpected temporary … [Read more...] about Analysts cut Mr DIY target price despite expectation of better quarters ahead

- A + A KUALA LUMPUR (May 17): Here is a brief look at some corporate announcements and news flow on Tuesday (May 17) involving Petronas Chemicals Group Bhd (PetChem), Dialog Group Bhd, Duopharma Biotech Bhd, Yong Tai Bhd, Caely Holdings Bhd, Dagang NeXchange Bhd (DNex), Reservoir Link Energy Bhd, Borneo Oil Bhd, Chin Hin Group Bhd and Sarawak Consolidated Industries Bhd (SCIB). Petronas Chemicals Group Bhd ( PetChem ) is acquiring the entire equity interest in leading specialty chemicals group Perstorp Holdings AB from Financière Forêt SARL for a base purchase of €1.538 billion (RM7.018 billion) cash. The acquisition marks the creation of a significant specialty chemicals portfolio, while enhancing its overall earnings, said PetChem, which together with its unit Petronas Chemicals International BV (PCIBV) has entered into a conditional securities purchase agreement with the seller for the proposed acquisition. Under the deal, PCIBV is required to pay a maximum … [Read more...] about PetChem, Dialog, Duopharma, Yong Tai, Caely, DNeX, Reservoir Link, Borneo Oil, Chin Hin and SCIB

- A + A NEW YORK (May 18): Global equity markets rallied and Treasury yields rose on Tuesday, as solid U.S. retail sales in April suggested economic growth might strengthen, as did an easing of China's lockdowns to contain the COVID-19 pandemic. U.S. retail sales rose 0.9% last month while data for March was revised higher to show sales advancing 1.4% instead of 0.7% as previously reported, the Commerce Department said. The data show U.S. consumers weathering inflationary headwinds as sales gained for the fourth consecutive month, said Jeffrey Roach, chief economist for LPL Financial. Sales are nominal, so much of the increase is from higher prices, he said. "We expect a rebound in economic growth in Q2," Roach said in an email, if prices moderate enough to relieve some of the pressure on consumers. U.S. and European stocks rallied following gains overnight in Asia. MSCI's gauge of stocks across the globe closed up 2.0%. The pan-European STOXX 600 index rose … [Read more...] about Shares rebound, Treasury yields rise on stronger data

Walmart CEO Doug McMillon - A + A DALLAS (May 17): Walmart Inc fell the most in two years after cutting its profit outlook due to inflationary pressures, especially in food and fuel. The retail giant now sees earnings per share falling by about 1% this year, compared with a prior view of mid-single-digit gains, Walmart said in a statement Tuesday. Adjusted profit fell to US$1.30 a share during the first quarter ended in late April. That trailed the US$1.48 average of analyst estimates compiled by Bloomberg . The Bentonville, Arkansas-based company, which for decades has championed “everyday low prices,” is vying for more customers as inflation pushes shoppers to look harder for bargains. But higher costs for merchandise, transportation and labor pose a growing threat to profitability. That’s raising the stakes as Walmart must decide how much of those costs they will pass along to consumers. “US inflation levels, particularly in food and fuel, created more … [Read more...] about Walmart slides after cutting profit forecast on rising costs

Chang Hyun-guk, CEO of game publisher Wemade, explains the company's reasons for offloading its Wemix cryptocurrency during a YouTube livestream on Thursday. [SCREEN CAPTURE] Wemade said that it will find ways to compensate investors in its Wemix cryptocurrency after the coin lost almost 70 percent of its value. The company had been selling Wemix coins to finance investments. In a YouTube livestream on Thursday, CEO Chang Hyun-guk said that Wemade had sold small amounts of the coin over a long period of time for investment purposes. Wemade is best known for the Mir4 online game. It also operates the Wemix blockchain platform, which hosts a cryptocurrency of the same name. Wemix token holders argue that Wemade has offloaded about 50 million coins, worth at least 160 billion won ($134.7 million). The price of a Wemix token peaked at 29,490 won on Nov. 22, traded at 12,070 won on Dec. 31 and were changing hands at 9,000 won as of Thursday 4:30 p.m. During a YouTube … [Read more...] about Wemix crypto collapse yields vague offer of compensation

This article first appeared in The Edge Malaysia Weekly, on May 9, 2022 - May 15, 2022. Izham: We remain bullish on MAG’s future [and] cautiously optimistic about the environment. (Photo by Suhaimi Yusuf/The Edge) - A + A MALAYSIA Aviation Group Bhd (MAG), which narrowed its full-year net loss for 2021 by 60% over the preceding year, remains on track to achieve break-even in 2023 as part of its Long Term Business Plan 2021-2025 (LTBP 2.0). However, group CEO Captain Izham Ismail warns of headwinds from fuel and foreign exchange (forex) volatility, which could affect the target. MAG, whose wholly-owned subsidiaries include Malaysia Airlines Bhd (MAB), MAB Kargo Sdn Bhd (MABkargo), FlyFirefly Sdn Bhd and MASwings Sdn Bhd, posted a net loss of RM1.65 billion for the financial year ended Dec 31, 2021 (FY2021), a significant improvement on the year-earlier RM4.1 billion net loss when it was dealing with the effects of a slowdown in the global economy and … [Read more...] about Malaysia Aviation Group on track to break even in 2023 but faces fuel, forex headwinds

LedgerX co-founder Paul Chou is building on the sale of the company he created by raising capital for a new kind of cryptocurrency that can be spent on Earth, the Moon, Mars and beyond. I t’s just before midnight on a rainy autumn Friday. Paul Chou and his entourage dodge puddles on the runway of the Teterboro Airport in New Jersey as they board a Gulfstream private jet bound for Las Vegas. The flight attendant cracks open a bottle of champagne and with a nod welcomes the passengers aboard. The girls disappear into the back and emerge minutes later wearing sequined cocktail dresses and feather boas. Sensing she’s in for a party, the attendant offers a round of tequila shots just as the inertia from the plane taking off to the Bellagio Hotel & Casino forces her laughing into her seat. Ostensibly, Chou, 38, is celebrating not only his birthday but the sale for an undisclosed amount of LedgerX, the ground-breaking bitcoin derivatives firm he co-founded with his wife in … [Read more...] about Bitcoin Trailblazer Raises Capital To Create Interplanetary Cryptocurrency

Samsung Electronics' chip manufacturing complex in Pyeongtaek, Gyoenggi [SAMSUNG ELECTRONICS] U.S. President Joe Biden is scheduled to visit a Samsung Electronics chip manufacturing complex during his state visit to Korea this week. Representatives from the company, the country's largest, will be attending a session hosted by the U.S. Department of Commerce and Korea's Industry Ministry. Other Korean companies invited to the business roundtable on May 21 include LG Electronics, SK Inc., Hyundai Motor, Hanwha Corporation, Naver, Lotte and OCI, multiple sources with knowledge of the matter confirmed. "The companies have received the invitation," said a source who spoke on the condition of anonymity. "But many of them haven't made a decision on a main attendee because it remains unclear whether the meeting will be hosted by the presidents or the Industry Minister and the Secretary of Commerce." President Yoon Suk-yeol and Biden will tour the Samsung Electronics complex in … [Read more...] about Biden to visit Samsung Electronics chip factory during visit

- A + A KUALA LUMPUR (May 17): Dialog Group Bhd posted a net profit of RM133.06 million for the third financial quarter ended March 31, 2022 (3QFY22), down 2.3% from RM136.17 million a year earlier, mainly caused by higher project cost. Earnings per share declined to 2.36 sen from 2.41 sen previously. Quarterly revenue, however, jumped 46.5% to RM593.43 million compared with RM405.18 million a year ago, contributed by increased business activities in both home and international operations, the oil and gas company's filing with the bourse on Tuesday (May 17) showed. The company also declared an interim cash dividend payment of 1.3 sen per share, to be paid on June 28, 2022. For the cumulative nine months ended March 31, 2022, Dialog's net profit slipped 3.7% year-on-year to RM389.76 million from RM404.6 million. Cumulative revenue, meanwhile, grew 51% to RM1.64 billion from RM1.09 billion. Dialog said the higher revenue reported by the Malaysian operations for … [Read more...] about Dialog posts lower profit for 3QFY22 despite revenue growth, declares 1.3 sen dividend