Felix capital

Roland Bala (Photo by Patrick Goh/The Edge) - A + A SUBANG JAYA (Aug 12): Heineken Malaysia Bhd has planned a capital expenditure of about RM140 million in 2022, according to its managing director Roland Bala. "We continue to expand our brewery based on future demand that we forecast. This year, we are spending something to the tune of RM140 million on expansion and upgrade of our brewery," Roland told a media briefing after the release of the group's financial results for the first half ended June 30, 2022. He said the ongoing expansion of its brewery, which started last year, will continue into 2023 but probably "take a breather in 2024". "As part of our expansion project, we are going to instal solar PV (photovoltaic) panels on all our roofs and that will help to generate renewable energy. "We have subscribed to the Malaysian Renewable Energy Certificate by Tenaga Nasional Bhd since March 2022," Roland said, adding that the company's carbon emissions in … [Read more...] about Heineken Malaysia plans RM140 mil capital spending in 2022

Share to Twitter Share to Linkedin How Credit Cards Changed During the Pandemic and What to Expect in 2023 The last few years have been a roller coaster for both the travel industry and the market for rewards credit cards. In looking back over the last few years, some notable trends jump out as card issuers tried to react to customer sentiment and stay relevant in a highly dynamic environment. From shifting bonus categories to hefty welcome offers and an array of new product launches, here’s a look back at where we’ve been, and a possible glimpse at where the market is heading in 2023. [ The Points Guy ] Buy Now, Pay Later Sounds Too Good to Be True Because It Is Buy Now Pay Later companies often don’t do in-depth checks of consumers’ credit, meaning people wind up getting into debt they can’t pay. If someone screws up, they can be hit with late fees and see their credit scores dinged. And screwing up is easy to do if people are taking out … [Read more...] about This Week In Credit Card News: How The Pandemic Changed Credit Cards; The Dangers Of Buy Now, Pay Later

- A + A KUALA LUMPUR (Aug 12): Vortex Consolidated Bhd plans to raise up to RM21.05 million via a private placement, mainly for working capital requirements for its moneylending business. The exercise will see up to 127.58 million shares or 10% of the group's total issued shares issued at a price to be determined later, Vortex said in a Bursa Malaysia filing. This marks the group's second cash call this year after it completed a private placement on March 29. That placement raised gross proceeds of RM19.92 million to fund a mixed property development project. Vortex has also undertaken several other cash calls over the past two years. It raised gross proceeds of RM56.55 million via a rights issue mainly to repay bank borrowings and as working capital requirements for the mixed property development project and its moneylending business. The rights issue exercise was completed on April 28, 2021. Prior to that, Vortex completed two rounds of private placements in … [Read more...] about Vortex plans another private placement to raise RM21 mil

- A + A SUBANG JAYA (Aug 12): Heineken Malaysia Bhd cautioned that cost escalation is not over and may hit the company hard in 2023. “We announced price increases in August, which were to recover some cost increases. As we move into the new year, the impact of cost escalation will hit us very much,” its managing director Roland Bala told a media briefing on the company's financial performance for the first half ended June 30, 2022 (1HFY22) on Friday (Aug 12). As to whether there will be further price hikes, Roland said: "No one can guarantee what the future is, (but for now) we have taken appropriate measures.” Heineken Malaysia’s net profit jumped 102% to RM199 million in 1H22 from RM99 million in 1HFY21, as revenue climbed 50% to RM1.3 billion from RM897 million. “I want to remind everyone that this is against the weak comparison last year, (when) the brewery was closed in the whole of June and the on-trade business was closed," he said. Having said that, … [Read more...] about Heineken Malaysia warns of impact from further cost escalation in 2023

- A + A KUALA LUMPUR (Aug 12): The GDP growth in second quarter of 2022 (2Q22), which came in at 8.9% year-on-year (y-o-y), has exceeded market consensus expectation of a 7% increase. Despite the "above expectation" economic growth, economists are warning that the pace of growth is likely to slow in the second half of 2022 (2H22) on possible weaker consumer spending and external uncertainties. RHB Bank said that it is anticipating a slower growth momentum into 2H22. "The momentum in consumer spending might be tapered towards the year end amidst weaker discretionary spending following the tightening of monetary conditions, higher costs of living due to intensifying inflationary pressures coupled with the expiry of some pandemic-related measures," said RHB Bank economist Chin Yee Sian and associate research analyst Wong Xian Yong. On top of that, Chin and Wong expect a slower momentum ahead for the gross fixed capital formation (GFCF) with downside risks from lower … [Read more...] about Economists see slower growth in 2H22 following stellar 2Q22 GDP data

- A + A KUALA LUMPUR (Aug 12): ARB Bhd on Friday announced that it has proposed to list its internet of things (IoT) business via its indirect wholly-owned subsidiary ARB IOT Group Ltd (AIGL) on the NASDAQ Stock Exchange in New York through an initial public offering (IPO) with an issue price of at least US$4 (RM17.78) to raise a minimum of RM17.78 million and up to a maximum of RM59.32 million. In a bourse filing, ARB said the RM59.32 million proceeds under the maximum scenario from the IPO will be utilised mainly for strategic acquisitions and investment activities (RM30.69 million), aside from working capital and general corporate purposes (RM15.34 million), with the balance for the estimate listing expenses (RM8.18 million) as well as research and development activities (RM5.11 million). AIGL was incorporated in the Cayman Islands and is a wholly-owned subsidiary of ARB IOT Ltd, which in turn is an indirect wholly-owned subsidiary of ARB Holdings Sdn Bhd and in … [Read more...] about ARB to raise up to RM59.32 million via IPO through listing of IoT business unit on NASDAQ

Integrated property developer D.M. Wenceslao and Associates Inc. (DMW) reported on Friday a 56-percent jump in its net income in the first half of 2022 to P1.3 billion from P853 million a year ago. The company said revenues and profits were boosted by increasing levels of mobility and economic activity in the National Capital Region since March. Rental revenues from land, buildings and others improved by 14 percent to P1.1 billion, accounting for 47 percent of total revenue, DMW  said in a statement. The contribution from commercial assets to total revenue has visibly improved due to increased mobility in Metro Manila, with several office tenants returning on site, it said. Residential revenues surged 75 percent to ₱466 million on the back of a higher number of DMW completed a milestone transaction during the period with the signing of a 50-year contract of lease with St. Luke’s Medical Center Inc. for a 13,896-sqm parcel of land last June. “Most recently, we signed … [Read more...] about DM Wenceslao first semester profit up 56%

Homegrown oil company Phoenix Petroleum Philippines, Inc. returns to profitability with a net income of Php 201 million for the second quarter, its highest since the onset of the pandemic. Gradually recovering from the loss in the first quarter, gains from its overseas businesses and continued OPEX discipline across the Group grew EBITDA by 67% quarter-on-quarter. “We had a difficult start this year, but we’ve gained some traction, and are seeing favorable results from our strategies. Improved margins and our sustained prudence are paying off, and we are in a better position to cultivate growth as the market further recovers,” said Phoenix Petroleum President Henry Albert Fadullon. The company is reaping the benefits of its long-standing commitment in streamlining operations and maximizing efficiency across the business as OPEX was lower by 10% quarter-on-quarter. As part of its pre-pandemic OPEX and CAPEX rationalization programs, Phoenix has continued to advance … [Read more...] about Phoenix returns to profitability in Q2

The Soberano family-led Cebu Landmasters Inc. (CLI) booked record profits in the first half of the year as capital investments surged 42 percent to P5.5 billion to lock in strong demand for its projects in Visayas and Mindanao. From January to June this year, CLI’s net income jumped 40 percent to P1.55 billion while real estate sales reached P7.36 billion, up 45 percent from the same period in 2021. Gross profit margin was maintained at 45 percent despite cost pressures from the steep rise in the prices of raw materials and other inputs. “We are on track to achieve another record year and there are several strong indicators for CLI to achieve its growth guidance of 20 percent this year,” Jose Soberano III, CLI chair and CEO, said in a statement. “With our expanding portfolio and with our operations tailored to provide the strongest ‘ground game’ in the region, CLI is best-positioned to address the growing housing backlog while extending best-in-class turnaround times and … [Read more...] about CLI books record first half profit

Source: Reuters Several Chinese state-owned companies including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) announced plans on Friday to delist from the U.S. stock market. The companies, which also include Aluminium Corporation of China (Chalco) (601600.SS) and PetroChina (601857.SS), said in separate statements that they would apply for delistings of their American Depository Shares from the New York Stock Exchange (NYSE). The four will keep their listings in Hong Kong and mainland Chinese markets. "These companies have strictly complied with the rules and regulatory requirements of the U.S. capital market since their listing in the U.S. and made the delisting choice for their own business considerations," the China Securities Regulatory Commission (CSRC) said in a statement. China and the United States have been in talks to resolve a long-running audit dispute that could result in Chinese companies being kicked off American exchanges if they … [Read more...] about Four Chinese state-owned companies to delist from NYSE