Second chance properties

- A + A KUALA LUMPUR (May 20): Caely Holdings Bhd’s net loss for the fourth quarter ended March 31, 2022 (4QFY22) shrank to RM9.29 million from RM23.46 million due to an improvement in property development cost on account of lower provision of impairment amounting to RM7.2 million. Loss per share shrunk to 3.61 sen from 5.57 sen, according to the lingerie maker’s bourse filing on Friday (May 20). Quarterly revenue slipped 17.09% to RM10.66 million from RM12.85 million, as the group saw buyers cancellation of sold 2 and 3 storeys shop lot amounting to a reduction in revenue of RM4.2 million. “[This was] partially offset by an increase in manufacturing sales of RM2.2 million or 18.1%, following the gradual opening of the economy arising from post-Covid-19 endemic recovery by various countries, (corresponding) to increase in sales,” it added. For the full year (FY22), Caely’s net loss also shrank to RM6.63 million from RM12.38 million, despite its revenue marginally … [Read more...] about Caely 4Q net loss shrinks on lower impairment of property development cost

Philippines’ Ernest John Obiena competes in the men’s pole vault final during the Tokyo 2020 Olympic Games at the Olympic Stadium in Tokyo on August 3, 2021. (Photo by Ben STANSALL / AFP) TOKYO—With one leap left to rescue his Tokyo Olympics stint, the last thing EJ Obiena needed was a distraction. Unfortunately he got one when he needed it the least. Obiena failed to hurdle the 5.80-meter qualifying mark and finished out of the medal in men’s pole vault at Olympic Stadium on Thursday, rounding out a day when the Philippines chalked a silver officially in the medal tally and kept one gold hunt alive in men’s boxing. Obiena nearly cleared the mark on his first two tries, tagging the bar on descent both times to necessitate a do-or-die vault. He eased off on his first approach, and that’s when issues with the clock cropped up. Obiena was pointing at the clock at the chief timer before hurriedly trying to complete his third attempt. He did not even make a takeoff and was … [Read more...] about Distracted EJ Obiena finishes way out of vault medal

Share to Twitter Share to Linkedin The Preakness Stakes’ age-old form as the deceptively “shorter” centerpiece that has dashed many a Triple Crown dream will be turned on its head this year, as the 2022 top favorite Epicenter will attempt to turn the 147th running of the stakes into a rebound, of sorts, from his inability to hold the lead against a furious assault by longshot Rich Strike in the last furlong of the Kentucky Derby on May 7. Two weeks is not a long time between horse races at any level, let alone as an interval between two Triple Crown runs. The density of the gauntlet in which the Class of 2022 operates at the moment is why there have been just thirteen Triple Crown winners. Epicenter’s profile took quite a blow as the 80-1 longshot Rich Strike breezed by him in the Derby. Now he’s got the chance, in a Rich-Strike-free field, to claw himself and his reputation out of the hole in which his inability to defend his lead in the Derby left him. … [Read more...] about Preakness Stakes 2022: Post Positions, Odds, The Filly Challenger, And Epicenter’s Run For Redemption

Key Takeaways Analysts estimate adjusted EPS of $0.87 vs. $1.32 in Q1 FY 2022. The number of customers contributing over $100,000 in 12-month trailing revenue is expected to rise YOY, but at a sharply slower pace than previous quarters. Revenue is expected to grow, but at a decelerating pace. Zoom Video Communications Inc. ( ZM ), which offers a video-first communications platform, saw its popularity soar during the past two years amid the COVID-19 pandemic. Earnings and revenue skyrocketed. But the company's growth has decelerated sharply in recent quarters as employees have begun to return to their offices. In this new environment, Zoom's biggest challenge is how to retain its base of large corporate customers, who are crucial to producing a steady, reliable revenue stream. Investors will be watching closely at how Zoom management plans to address these challenges when the company reports earnings on May 23, 2022 for Q1 FY 2023. The company's 2022 fiscal … [Read more...] about Zoom Q1 FY2023 Earnings Report Preview: What to Look For

Attempts to unionize Amazon.com, Inc. ( AMZN ) workers at two large facilities in the Staten Island borough of New York City have produced mixed results, with workers at one voting for unionization and those at the other voting against. The latter results were announced on May 2, 2022. Meanwhile, Amazon is asking the National Labor Relations Board (NLRB) to invalidate the vote in favor of the union, alleging various electoral irregularities. The Amazon Labor Union (ALU) won by a vote of 2,654 (55%) in favor out of 4,785 ballots counted at the JFK8 warehouse. However, the union lost by a margin of 618 (62%) against out of 998 votes counted at the adjacent LDJ5 sorting facility. The former site employs more than 8,000 people, while the latter has approximately 1,633 eligible voters. Key Takeaways After winning a vote to organize workers at an Amazon.com facility in Staten Island, New York, the same union lost a vote at an adjacent facility. Amazon had worked … [Read more...] about Amazon (AMZN) Union Gets Split Decision in NYC

Altantuya Shaariibuu - A + A SHAH ALAM (May 20): The High Court has set Aug 30 to deliver its decision in an RM100 million suit filed by the family of Mongolian model Altantuya Shaariibuu over the woman's death in 2006. Judge Datuk Vazeer Alam Mydin Meera fixed the date after all witnesses from both sides finished testifying at the trial. On June 4, 2007, Altantuya's parents, Dr Shaariibuu and Altantsetseg Sanjaa as well as their two grandsons Mungunshagai Bayarjargal and Altanshagai Munkhtulga filed an RM100 million suit against former policemen Azilah Hadri and Sirul Azhar Umar, as well as Abdul Razak Baginda and the Malaysian government. However, Altanshagai Munkhtulga’s name was later removed from the plaintiff’s list when he passed away in 2017. In a statement of claim, the family claimed Altantuya’s death resulted in them suffering mental shock and psychological trauma, and sought compensation, as well as exemplary and aggravated damages. The court … [Read more...] about Court sets Aug 30 to deliver verdict on RM100 mil suit by Altantuya’s family

- A + A BENGALURU (May 20): Bank Indonesia will wait a few more months to raise rates from a record low despite rising inflation and aggressive moves by the US Federal Reserve, according to a Reuters poll of economists that showed a growing minority expect a hike next month. Although inflation surged to 3.47% in April, the highest in more than four years, it is still within Bank Indonesia's 2%-4% target range, suggesting the central bank is not under immediate pressure to raise interest rates. All but two of 27 economists in the May 12-19 poll expected Bank Indonesia (BI) to hold its benchmark seven-day reverse repurchase rate at a record low 3.50% at its May 24 meeting. Two expected a 25 basis point hike. Nearly one-third of respondents, 8 of 27, said the first rate rise would be in June, and the remaining 17 said it would come at one of the monthly meetings in July-September. "Next month, we expect policymakers to lay the ground for a hawkish pivot, factoring … [Read more...] about Bank Indonesia to pull rates lever in Q3, June move possible

Bloomberg filepix for illustration purpose only - A + A (May 20): China's crude oil imports from top supplier Saudi Arabia soared 38% in April from a year earlier, hitting the highest monthly volume since May 2020, according to Reuters ' calculations based on official Chinese customs data. Saudi shipments amounted to 8.93 million tonnes last month, equivalent to 2.17 million barrels per day (bpd), according to data from the Chinese General Administration of Customs. The hefty purchases, with trades completed mostly in February, compare with 1.61 million bpd in March and 1.57 million bpd a year earlier. Imports from second-largest supplier Russia rose a more modest 4% last month from a year earlier, with cargoes booked before western governments toughened sanctions over Russia's invasion of Ukraine in late February. Russian oil arrivals in April totalled 6.55 million tonnes, or 1.59 million bpd, data showed, up slightly from 1.5 million bpd in March and … [Read more...] about China’s April Saudi oil imports soar 38% on yr, Russian oil up 4%

British Secretary of State for International Trade Anne-Marie Trevelyan walks outside Downing Street in London, Britain on Feb 8, 2022. (Reuters filepix by Tom Nicholson) - A + A LONDON (May 20): Britain on Friday said it was launching talks over a free trade deal with Mexico, looking to add services to its current agreement, as well as aiming to increase trade in the financial and digital sectors. Britain and Mexico agreed a continuation trade deal before Britain left the sphere of the European Union, but that arrangement is based on an EU-Mexico trade agreement negotiated over 20 years ago. A free-trade agreement with Mexico would also boost Britain's foreign policy tilt towards the Indo-Pacific. Mexico is a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which Britain wants to join. The free trade area, established in 2018, is now made of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, … [Read more...] about Britain launches free trade deal talks with Mexico

- A + A A weekly round-up of tanker and dry bulk market (May 20, 2022) This report is produced by the Baltic Exchange. The Baltic Exchange, a wholly-owned subsidiary of Singapore Exchange, is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 650 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic. For daily freight market reports and assessments, please visit www.balticexchange.com . Capesize The Capesize market began the week at the summit of the recent rally. This necessitated a breather before sentiment strengthened, helping it to push up throughout the week and marking new highs for the year. The Capesize 5TC rose +US$4,805 over the week to close at US$37,538. The Pacific region, while easily the premium region to trade currently, was in … [Read more...] about Baltic Exchange shipping updates: May 20