Profit impact of market strategy

New York (CNN Business) The coronavirus pandemic has forced everyone to get creative. Whether through Zoom meetings , online fitness classes or take-out cocktails , companies in nearly every industry are pivoting to get through the crisis. Some work-arounds have been especially creative, such as individual exercise "pods" to get people back into gyms. But beyond short-term fixes, many innovative new strategies and business models have emerged that are likely to stick, even as many jurisdictions begin to reopen in some capacity. In many cases, these transformations are thanks to the increased adoption of technology and the digitization of businesses. Many of these changes were underway pre-coronavirus; the pandemic has just accelerated them. "What's important to customers has changed," John Roese, Dell ( DELL ) Technologies chief technology officer , told CNN Business. "We've broken through a bunch of psychological or … [Read more...] about Here are some of the creative new business models and strategies that have come out of the coronavirus pandemic

- A + A KUALA LUMPUR (June 28): United Malacca Bhd recorded a net profit of RM18.72 million for its fourth quarter ended April 30, 2022 (4QFY22), compared with a net loss of RM11.7 million in the same period last year, thanks to higher crude palm oil (CPO) prices. Revenue grew 38.64% to RM147.45 million from RM106.36 million, backed by the group's operations in Malaysia which recorded a plantation profit of RM42.7 million, up 180% from RM15.2 million previously. The group posted earnings per share of 8.92 sen, compared with the loss per share of 5.58 sen seen last year, its bourse filing on Tuesday showed. "Higher earnings before interest, taxes, depreciation and amortisation (EBITDA) in the current quarter were mainly due to higher average CPO price of RM6,034 per tonne compared to RM3,454 per tonne in the preceding year. "[This is in addition to] palm kernel price of RM4,526 per tonne from RM2,549 per tonne in the preceding year even though fresh fruit bunch … [Read more...] about United Malacca’s 4Q profit drops 38% quarter-on-quarter to RM18.8 mil, declares 10 sen dividend

- A + A KUALA LUMPUR (June 28): Poh Huat Resources Holdings Bhd's net profit for the second quarter ended April 30, 2022 (2QFY22) jumped 81.75% to RM23.08 million from RM12.7 million in the same period last year, mainly driven by higher furniture shipments from Malaysia. Quarterly revenue grew 12.57% to RM186.34 million from RM165.53 million, as production activities for both the group's operations in Malaysia and Vietnam continued to do well on the back of sustained orders from its customers in North America. "In particular, our Malaysia operations registered strong growth compared to the previous year's corresponding quarter as we ramped up production to clear order backlogs following the resumption of production after MCO 3.0 (Movement Control Order 3.0). Our Vietnam operations also registered higher shipment, albeit at a more modest level," Poh Huat said. As such, its earnings per share almost doubled to 8.71 sen from 4.79 sen previously, its bourse filing … [Read more...] about After 82% jump in 2Q profit, Poh Huat sees signs of demand slowdown in US amid soaring prices

- A + A KUALA LUMPUR (June 28): Kim Loong Resources Bhd’s net profit for the first quarter ended April 30, 2022 (1QFY23) climbed 38.2% year-on-year to RM39.23 million from RM28.38 million, as revenue jumped amid higher average selling prices of fresh fruit bunch (FFB) and crude palm oil. According to its bourse filing on Tuesday (June 28), the group's revenue jumped 63.14% to RM509.74 million from RM312.45 million. Earnings per share rose to 4.06 sen from 3.04 sen. No dividend was declared. Kim Loong said the ASP for FFB rose 56% year-on-year, while the ASP for CPO was up 58%. FFB production also grew 7%, while CPO production increased 2%. On prospects, the group’s management forecasts that FFB production for FY23 could be 15% higher than the quantity achieved in FY22, if the labour shortage problem does not deteriorate further. “As for palm oil milling operations, the management expects a total processing quantity of about 1.50 million MT (metric tonnes) of FFB … [Read more...] about Kim Loong’s 1Q profit up 38% on higher CPO, FFB selling prices

- A + A KUALA LUMPUR (June 28): Bursa Malaysia closed higher on Tuesday (June 28), lifted by buying interest in most heavyweights and in line with improving market sentiment across the region, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.16% or 16.62 points to 1,454.74 from Monday's close of 1,438.12. The benchmark index, which opened 0.86 of-a-point firmer at 1,438.98, moved between 1,431.35 and 1,455.46 throughout the day. On the broader market, gainers led losers 470 to 410, while 420 counters were unchanged, 1,042 untraded, and 79 others suspended. Total turnover narrowed to 2.28 billion units valued at RM1.61 billion from 2.65 billion units worth RM1.43 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices ended mostly higher as foreign funds returned to the region amid economic concerns in the United States and European Union. On the local front, he said the … [Read more...] about Bursa ends higher in line with improved market sentiment

- A + A LONDON (June 28): Walgreens Boots Alliance Inc is abandoning the sale of the Boots drugstore chain in the UK citing "unexpected and dramatic change" in the global financial markets since launching the sales process in January. The American healthcare group had been in talks with a consortium between Reliance Industries Ltd and Apollo Global Management Inc over the more than £5 billion (US$6.1 billion) sale of Britain's biggest pharmacy chain. As a result of "market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots", Walgreens said in a statement on Tuesday. The recent strong performance of Boots, and its key No7 beauty brand, is also behind the decision to retain the business, the company added in the statement. The Boots sale was considered a litmus test for dealmaking in the UK with credit markets becoming increasingly fragile. The easy financing … [Read more...] about Walgreens abandons Boots sale amid volatile debt market

Share to Twitter Share to Linkedin Jenna Kutcher is crystal clear on what she wants in life, and she’s figured out how to get it. This 30-something Minnesota mom treasures her at-home time with her husband and two little girls. She does the things other moms do—grocery shopping, struggling with nap time, keeping tabs on house repairs, cleaning up spilled Cheerios from the kitchen floor. For Jenna, there’s nothing in the world more important than the happiness and wellbeing of her family. She clearly embraces the adage that “no other success can compensate for failure in the home.” Stay-at-home Jenna is also one of the best-known social media influencers on the planet. After buying a $300 camera on Craigslist, Jenna became an award-winning wedding photographer. She loved that. But she dreamed a different dream and decided she preferred working from her cozy craftsman home in her yoga pants. To provide practical advice to other women entrepreneurs, … [Read more...] about This Goal Digger Can Help You Tap Your Own Potential

Paul Bascobert is seen in this undated pix. (Photo credit: Handout via Reuters) - A + A (June 28): Thomson Reuters Corp  on Tuesday named Paul Bascobert as president of Reuters News , turning to a tech and media veteran to drive growth at the 171-year-old news organization. Bascobert, 58, is a former CEO of US print giant Gannett Co Inc, which owns USA Today . He also has held senior positions at Bloomberg LP, where he ran the business operations of its consumer arm Bloomberg Media, and at Dow Jones, where he was the chief marketing officer and launched new products and improved its subscription strategy. Most recently, Bascobert was the CEO of media and ad tech-focused Blue Ocean Acquisition Corp, a Special Purpose Acquisition Company (SPAC) which raised nearly US$190 million in an initial public offering in December. He succeeds Michael Friedenberg, who left the company in December after a three-year stint that included appointing Alessandra Galloni as … [Read more...] about Thomson Reuters names ex-Gannett CEO as Reuters News president

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A THE share price of DRB-Hicom Bhd has been on a downward trend since December 2020, when the shortage of semiconductors became apparent the world over. Last Friday, DRB-Hicom was trading at RM1.16 — its lowest since March 23, 2020. This means DRB-Hicom is now trading at the level when stocks tumbled in reaction to the first Movement Control Order (MCO), which was implemented in March 2020 to contain the spread of Covid-19. This is in contrast to other automotive or automotive-based groups listed on Bursa Malaysia. For example, Bermaz Auto Bhd is trading at more than double the level on March 23, 2020, and MBM Resources Bhd is 38% higher than at the start of the pandemic. Shares in Sime Darby Bhd, which is also a conglomerate like DRB-Hicom, were up 43.5% last Friday compared with March 23, 2020. UMW Holdings Bhd, another conglomerate with a huge automotive … [Read more...] about At an almost two-year low, DRB-Hicom is still demonstrating upside uncertainty

G7 leaders gathering for lunch at the Schloss Elmau hotel in Elmau, Germany on Monday (June 27). The G7 leaders have also agreed to take a more coordinated approach to challenging China's 'market-distorting' practices in global trade. (Photo by Susan Walsh/Pool via Reuters) - A + A SCHLOSS ELMAU (June 28): The Group of Seven (G7) economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday. "We invite all like-minded countries to consider joining us in our actions," the G7 leaders said in the communique. The war in Ukraine and its dramatic economic fallout, in particular soaring food and energy inflation, has dominated this year's summit of the group of rich democracies at a castle resort in the Bavarian Alps. The G7 is looking at price caps as a way to prevent Moscow profiting from its invasion of Ukraine, which has sharply raised energy prices, taking the sting out of Western … [Read more...] about G7 agrees to explore cap on Russian oil price — communique