Big y turkey prices

MRT Corp chief executive officer Datuk Mohd Zarif Hashim (The Edge filepix by Sam Fong) - A + A JOHOR BAHRU (May 18): The Johor Bahru-Singapore Rapid Transit System (RTS) Link project is expected to play a major role in boosting economic activities, potentially becoming as huge as the Hong Kong-Shenzhen Western Corridor. Mass Rapid Transit Corporation (MRT Corp) chief executive officer Datuk Mohd Zarif Hashim said the RTS Link project’s value cannot be measured only from the point of view of its construction, as it should also take into account how it would be able to attract investments in the long run. “Investments made by the government should provide returns in the short and long term, so we are letting the people around the world know that there are plenty of opportunities to invest in Johor Bahru due to this RTS project. “Our wish is that one day the Johor Bahru-Singapore corridor will be a rival or match to the Shenzhen-Hong Kong corridor…that’s what we … [Read more...] about RTS Link can be as big as Hong Kong-Shenzhen Western Corridor

A management reset may be in order at The Boeing Company (BA) , contends the CEO of Irish budget carrier Ryanair Holdings PLC ( RYAOF ), after a string of delivery delays and disputes over pricing negotiations have clouded the business relationship of the two companies. Key Takeaways Ryanair CEO Michael O'Leary said that Boeing's management needs a shakeup after a number of delivery delays and stalled pricing negotiations with the company. Ryanair ended negotiations to purchase up to 250 MAX 10 planes in September 2021 after pricing negotiations with Boeing broke down. Boeing's 737 MAX 10 and 787 Dreamliner have suffered major delivery delays due to certification and manufacturing issues. Faster-than-expected deliveries of Boeing's MAX 10 and Dreamliner could bring on a sharp rally in the company's share price. Ryanair Chief Executive Michael O'Leary lambasted the aerospace company's management at the airline's quarterly earnings conference call on Monday, … [Read more...] about Boeing (BA) Takes Heat From Top European Customer Ryanair

Reuters filepix for illustration purpose only - A + A NEW YORK (May 18): The US is forcing Wall Street banks to embark on a systematic search through more than 100 personal mobile phones carried by top traders and dealmakers in the largest-ever probe into clandestine messaging on platforms such as WhatsApp. The Securities and Exchange Commission has been sending firms lists of key positions — in some cases pointing to around 30 people including heads of certain investment banking teams or trading desks — that are subject to the review, according to people with direct knowledge of the requests. Personnel in those roles are being ordered to hand over phones so devices can be examined by lawyers. The aim is to gauge how pervasively Wall Street professionals use unauthorized messaging platforms to chat with each other or clients as regulators decide which firms to punish, and how hard, for failing to preserve business-related messages sent via unapproved platforms. … [Read more...] about US pries into over 100 trader and banker phones in texting probe

- A + A NEW YORK (May 18): In public, Elon Musk’s erratic tweets have sent Twitter Inc’s shares flailing, as traders bet that the billionaire is preparing to walk away from or re-negotiate his US$44 billion takeover of the social-media company. Behind the scenes, it’s more like business as usual, as advisers on both sides plug away at the day-to-day work of closing a megadeal. One potential sign that the deal is still on track: the 139-page filing that hit early Tuesday, detailing how the offer came together and Twitter’s rationale for accepting it. That document was the result of weeks of coordinated work by both Musk and Twitter’s teams, according to people familiar with the matter. Musk himself signed off on the final version — complete with a deal price of US$54.20 a share — before it was filed, the people said. The situation is similar at the banks that promised to finance the transaction, said the people, who asked not to be identified because the details are … [Read more...] about As Musk tweets, advisers plug away to keep Twitter deal on track

- A + A (May 18): Sri Lanka asked citizens not to queue for gasoline as the nation on the verge of default has no dollars to pay for a fuel shipment. “There is a petrol ship in our waters,” Energy Minister Kanchana Wijesekera told Parliament Wednesday. “We do not have the forex.” Sri Lanka “hopes” to release the ship “today or tomorrow,” the Minister said. The nation also owes the same supplier US$53 million for an earlier shipment of gasoline, he added, without elaborating. The island nation is in the worst economic tailspin of its independent history. Shortages of everything from food to cooking gas have resulted in Asia’s fastest inflation — with prices surging almost 30% — and spilling over into social unrest and political turmoil. Prime Minister Ranil Wickremesinghe — less than a week into the job — said on Monday the nation has only one day’s stock of gasoline and the government is working to obtain dollars in the open market to also pay for three ships … [Read more...] about Sri Lanka can’t find cash to pay even one ship for petrol

- A + A HONG KONG (May 18): Smarting from HSBC Holdings Plc’s move to scrap its dividend during the height of the pandemic, the bank’s largely silent mass of retail shareholders in Hong Kong is warming up to the idea of a breakup. Splitting up Europe’s biggest bank to separate out its Asian operations is being pushed by its largest investor, Ping An Insurance Group Co, based just across the border in Shenzhen. The call is winning support in Hong Kong’s retail base, which owns about a third of the bank, with some seeing it as a surefire way of preventing the steady stream of payouts from being cut off again. Their loyalty has been tested as numerous pivots in strategy fail to impress the market, leaving dividends at half of what they were in 2018 and the stock down more than 40%. The former British colony is the beating heart of the bank’s global operations, accounting for about 30% of the group’s 2021 adjusted profits. Yet decisions such as the halting of dividends … [Read more...] about HSBC’s mass of Hong Kong retail investors warms to breakup

- A + A KUALA LUMPUR (May 18): Sunway Real Estate Investment Trust's (Sunway REIT) net property income (NPI) for the first quarter ended March 31, 2022 (1QFY22) jumped 77.4% year-on-year (y-o-y) to RM118.9 million from RM67.02 million driven by strong pick up in business activities for the retail and hotel segments due to the relaxation in movement restrictions. Earnings per unit rose to 2.96 sen from 0.94 sen a year earlier, Sunway REIT informed Bursa Malaysia on Wednesday (May 18). Quarterly revenue grew 47.67% to RM153.97 million from RM104.27 million underpinned by higher revenue from all segments. Gross revenue for the retail segment soared 83.5% to RM98.4 million from RM53.7 million a year ago, primarily contributed by strong performance from all retail malls on the back of pent-up demand, festive spending, relaxation of Covid-19 safety measures and marginal rental support. The hotel segment’s gross revenue increased 28.6% y-o-y to RM18.5 million compared … [Read more...] about Sunway REIT’s 1Q net property income jumps 77% on strong pick up in business activities

- A + A KUALA LUMPUR (May 18): Apex Healthcare Bhd’s net profit for the first quarter ended March 31, 2022 (1QFY22) surged 32.76% to RM15.77 million, from RM11.88 million a year ago, underpinned by higher sales revenue achieved by its operating subsidiaries. Meanwhile, Apex Healthcare’s quarterly revenue rose 20.3% to RM215.92 million as compared to RM179.49 million in 1QFY21, driven by private sector demand for cough and cold products induced by the Omicron Covid-19 variant — which it said manifested largely as a community respiratory illness. The group said its improved net profit was also attributed to an improved contribution from its associate company Straits Apex Group Sdn Bhd of RM860,000, a 153.1% increase as compared to a year ago. “In January and February, production output was again dampened by workforce Covid-19 infections and exacerbated by persistent supply chain disruption for certain components and services. Production output has since improved,” it … [Read more...] about Apex Healthcare 1Q net profit up 33%, carried by higher sales revenue

- A + A KUALA LUMPUR (May 18): Signature International Bhd and its largest shareholder-cum-chairman Datuk Seri Chiau Beng Teik have emerged as the largest shareholders of Fiamma Holdings Bhd after acquiring a combined 29.59% equity interest in Fiamma. The 29.59% stake or 150 million shares, was acquired from Fiamma's chief executive officer and group managing director, Lim Choo Hong, at RM1.50 per share. Following the disposal of shares in Fiamma, Lim ceased to be a substantial shareholder in Fiamma, holding a 0.413% direct equity interest and 0.118% indirect interest in the company. A filing with Bursa Malaysia showed that Signature had entered into a conditional share sale agreement (SSA) with Lim, to acquire 120 million shares or 23.67% equity interest for RM180 million cash. On a separate note, Divine Inventions Sdn Bhd, a private entity controlled by Chiau’s family, entered into an SSA with Lim to purchase 30 million shares or 5.92% equity interest in Fiamma … [Read more...] about Chin Hin founder Chiau Beng Teik and Signature International emerge as Fiamma’s controlling shareholders

- A + A (May 18): Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push their pivots toward greener energy. With coal prices skyrocketing to a record, Adani’s conglomerate is expanding a controversial mine in Australia to meet demand. Ambani’s Reliance Industries Ltd is snapping up distressed crude-oil cargoes at discounts to feed its refining complex, the biggest in the world. Reliance even deferred a scheduled maintenance of the facility to help churn out more diesel and gasoline, whose margins have shot up to touch a three-year high. The two Indian tycoons are stepping in at a time when many developed countries are scrambling for alternative sources of fuels as they try to back away from Russian supplies. This month, the Group of Seven most-industrialized nations pledged to ban imports of Russian oil. The … [Read more...] about Asia’s two richest men reap windfall from surging oil, coal