Financial losses

KUALA LUMPUR: MyNews Holdings Bhd posted a net loss of RM10.22mil in the second quarter ended April 30, against a net loss of RM10.32mil in the same period last year. The convenience retail chain operator’s revenue for the quarter rose 35.7% to RM141.1mil from RM103.94mil achieved in the same quarter a year prior. The improved revenue was contributed by the growth in the number of outlets and increase in footfall upon relaxation of the full lockdown by the government. Its number of outlets increased to 556 from 519 in the second quarter. Mynews, in the notes accompanying its financial results, said was an increase in administration expenses from RM7.81mil to RM8.97mil. “This was attributed to the continual addition of new talents, and cost of marketing materials to promote the new retail brands, new products and the 66 new CU stores launched over the most recent two quarters,” it said. In addition, selling and distribution expenses increased from RM20.76mil to … [Read more...] about Mynews posts net loss of RM10.22mil in 2Q22

Share to Twitter Share to Linkedin Our global society is heavily dependent on space-based technologies. Most of us are aware that space positioning, weather and communications systems are critical to our transportation activities. I’m writing this article on a plane that is using GPS to route my flight safely around severe weather patterns that have been identified by satellites. If I finish this article inflight, I’ll upload it for publication at Forbes via a geosynchronous communications satellite. Still, many people would be surprised to learn that modern factories also depend on satellites . Manufacturing automation systems synchronize the operations of multiple robots on their production lines using the timing signals provided by GPS satellites . In fact, GPS is really a collection of 24 (plus spares) orbiting atomic clocks, each continually broadcasting time data. Your Uber is guided by tiny differences in the time signal emanating from four or more … [Read more...] about Cyber Threats Beyond Earth: Securing In-Space Manufacturing

This article first appeared in The Edge Financial Daily, on March 31, 2020 . - A + A Permaju Industries Bhd (-ve) Permaju Industries Bhd (fundamental: 0.75/3, valuation: 0.3/3) made it into our Stocks with Momentum list yesterday for the sixth time in March. The counter settled four sen or 4.02% lower at 95.5 sen, with 13.02 million shares traded, over three times its 200-day average volume of 3.65 million shares. For the second quarter ended June 30, 2019, Permaju reported a net loss of RM762,000 on a revenue of RM18.55 million. The revenue was mainly derived from its automotive division. There were no comparison numbers for the previous year’s corresponding period, due to a change in its financial year end from Dec 31 to June 30. For the cumulative six-month period, Permaju posted a net loss of RM1.36 million on a revenue of RM37.36 million. The loss was because of losses recorded for its automotive, timber and property divisions, which … [Read more...] about Stock With Momentum: Permaju Industries

This article first appeared in The Edge Financial Daily, on April 1, 2020 . - A + A Silver Ridge Holdings Bhd (-ve) TRADING of shares in Silver Ridge Holdings Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second time this year. The counter closed unchanged at 42 sen, with 4.5 million shares traded, over three times its 200-day average volume of 1.23 million shares. Year-to-date, the counter has risen some 45% from 29 sen on Dec 31 last year. The group is principally involved in the provision of IT products and services. It posted a turnaround for its second quarter ended Dec 31, 2019, with a net profit of RM46,000 compared to a net loss of RM1.27 million a year ago, on the back of downsizing and cost reduction measures implemented. Revenue, however, fell 47% to RM3 million from RM5.63 million due to the lower recognition value of certain completed projects in hand, and no new substantial contracts … [Read more...] about Stock With Momentum: Silver Ridge Holdings

This article first appeared in The Edge Financial Daily, on March 31, 2020 . - A + A Euro Holdings Bhd (-ve) TRADING of shares in Euro Holdings Bhd (fundamental: 0.35/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the fourth time this year. The counter closed eight sen or 25.4% higher at 39.5 sen, with 11.04 million shares traded, over six times its 200-day average volume of 1.77 million shares. The group is principally engaged in the design, manufacturing and trading of its own brand of chairs, system furniture, storage and accessories. For the fourth quarter ended Dec 31, 2019, the group’s net loss almost doubled to RM4.18 million from RM2.18 million for the corresponding period last year, mainly due to higher cost incurred and a provision for late delivery by the property division. Quarterly revenue fell 32% to RM18.16 million from RM26.6 million, due to lower property completion rates and lower sales owing to … [Read more...] about Stock With Momentum: Euro Holdings

This article first appeared in The Edge Financial Daily, on April 1, 2020 . - A + A Sanichi Technology Bhd (+ve) TRADING of shares in Sanichi Technology Bhd (fundamental: 1.2/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year. The counter closed half a sen or 10% lower at 4.5 sen, with 76.4 million shares traded, over six times its 200-day average volume of 12.24 million shares. The loss-making company continued to bleed in its fourth quarter ended Dec 31, 2019 with a net loss of RM1.34 million — its fifth straight quarterly loss — albeit at a smaller volume compared with RM11.04 million a year ago, due to lower operating costs from cost-controlling measures implemented. Revenue for the quarter also jumped more than three times to RM12.53 million from RM3.53 million a year ago, as revenue recognition in its property development segment picked up. For the full year ended Dec 31, 2019, the company’s net … [Read more...] about Stock With Momentum: Sanichi Technology

- A + A KUALA LUMPUR (June 27): Financially troubled Sapura Energy Bhd returned to the black in the first quarter ended April 30, 2022 (1QFY23) with a net profit of RM91.93 million, on the back of foreign exchange gains arising from the appreciation of the US dollar against the ringgit. In the preceding quarter, it had posted its biggest ever net loss of RM6.78 billion. In the same period last year, Sapura Enery had posted a net loss of RM97.08 million. In a Bursa Malaysia filing on Monday (June 27), the oil and gas service provider said its quarterly revenue, however, declined by 39.75% to RM886.08 million against RM1.47 billion in the year-ago corresponding period, due to lower project activities from its engineering and procurement (E&C) segment. Earnings per share for the quarter amounted to 0.58 sen, from losses per share of 0.61 sen. On a quarterly basis, revenue more than doubled from RM426.60 million in 4QFY22. Sapura Energy said that it continues … [Read more...] about Sapura Energy returns to black in 1Q with net profit of RM91.93 mil on forex gains

- A + A KUALA LUMPUR (June 27): MyNews Holdings Bhd posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million in the second quarter ended April 30, 2022 (2QFY22), from RM10.32 million a year ago. The results came amid higher revenue, offset by higher cost of sales and expenses amid an increase in the number of outlets which also contributed to higher footfall. Quarterly revenue rose 35.74% to RM141.10 million, from RM103.94 million, the group said. Losses per share stood at 1.51 sen, from 1.5 sen. On a quarterly basis, the group’s net loss widened in 2QFY22, from a net loss of RM7.86 million in 1QFY22, while revenue improved by 1.2% from RM139.44 million. The weaker quarter-on-quarter performance was due to additional costs incurred in establishing and promoting the launch of 26 new CU stores in the quarter, it said. For the six-month period ended April 30 (1HFY22), the group’s net loss narrowed to RM18.08 million from a net loss of … [Read more...] about MyNews maintains expansion mode as it continues to bleed in 2QFY22

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A THE momentum to adopt environmental, social and governance (ESG) criteria and sustainability practices in the capital market has picked up significantly in the past few years. By the third quarter of 2021, assets in global sustainable funds hit a record high, according to investment research firm Morningstar. At the same time, more than 70 countries — including the biggest polluters — have set a net-zero target and over 1,200 companies have put in place science-based targets to reach net-zero emissions, according to the United Nations. In Malaysia, at least 44 out of the 54 Sustainable and Responsible Investment (SRI) funds approved by Securities Commission Malaysia were launched in the last two years. As at December 2021, 94% of the top 50 listed companies in Malaysia had ESG strategies and 68% had emissions reduction policies, according to PwC’s research. … [Read more...] about HONOURING MALAYSIA’S BEST PERFORMERS IN ESG EXCELLENCE: The Edge to roll out Malaysia’s first ESG awards

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) Europe and the United States have barred the import of Russian oil to cut off a crucial revenue source for the Kremlin. But the plan to pile pain on President Vladimir Putin, forcing him to reconsider his war in Ukraine, hasn't worked . Russia's government is making just as much money from energy exports as it was before the invasion. Meanwhile, inflation is surging globally, adding to political pressure on heads of state such as US President Joe Biden, British Prime Minister Boris Johnson and French President Emmanuel Macron. That's forcing leaders from top economies who have gathered in Germany for a G7 meeting to consider a new route: slapping price caps on Russian crude . "The goal here is to starve Russia, … [Read more...] about Price cap on Russian oil could shake up the market