Wrestling 08 april 2018

This article first appeared in The Edge Financial Daily, on April 16, 2020 . - A + A Solid Automotive Bhd (-ve) TRADING of shares in Solid Automotive Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the seventh time this year. The last time the counter triggered our momentum algorithm was last Friday. Solid Automotive shares closed 6.56% or two sen lower at 28.5 sen. Some 6.06 million shares were traded, more than four times the counter’s 200-day average trading volume of 1.36 million shares. Solid Automotive’s net profit for the second quarter ended Oct 31, 2019 fell to RM112,000 from RM715,000 a year earlier, due to higher operating expenses, though revenue doubled to RM72.03 million from RM35.86 million. For the cumulative six months ended Oct 31, 2019, the group’s net profit rose 28% to RM1.09 million from RM851,000, while revenue more than doubled to RM137.08 million from RM65.36 million. Solid … [Read more...] about Stock With Momentum: Solid Automotive

This article first appeared in The Edge Financial Daily, on April 21, 2020 . - A + A SOLID Automotive Bhd (-ve) Solid Automotive shares closed unchanged at 31.5 sen. Some 6.17 million shares were traded, over four times the counter’s 200-day average volume of 1.45 million shares. Solid Automotive’s net profit for the second quarter ended Oct 31, 2019 fell to RM112,000, from RM715,000 a year earlier, no thanks to higher operating expenses, though revenue doubled to RM72.03 million from RM35.86 million. For the cumulative six months ended Oct 31, 2019, the group’s net profit rose 28% to RM1.09 million from RM851,000, while revenue more than doubled to RM137.08 million from RM65.36 million. Solid Automotive is involved in the trading of automotive electrical parts and components. It is the sole distributor of automotive electrical parts under the Lucas brand. … [Read more...] about Stock With Momentum: SOLID Automotive

- 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 DESPITE the reopening of borders since April 1, when Malaysia allowed quarantine-free travel for fully-vaccinated travellers into the country, it will be some time before the hotel industry regains a strong footing following the debilitating lockdowns of 2020 and 2021. In fact, it may well take another year at least before operators can operate at their full capacities at pre-pandemic levels, Malaysian Association of Hotel Owners (MAHO) president Tan Sri Teo Chiang Hong tells The Edge. “Average occupancy rates are an estimated 30% to 50% of pre-pandemic levels,” says Teo, who is owner and director of One World Hotel in Petaling Jaya, Selangor. He notes that resort destinations are seeing full occupancies while city hotels still face low occupancy. As at November 2020, a total of 204 tourism and hotel operators had shut down following the impact of the … [Read more...] about The State of the Nation: Hospitality industry struggling to cope despite borders reopening, brighter prospects

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A IF Bank Negara Malaysia’s eight-member monetary policy committee (MPC) raises the overnight policy rate (OPR) by 25 basis points (bps) at its next scheduled meeting on July 6, it will mark its first back-to-back increase since mid-2010, when interest rates were normalised following the recovery from the 2008 global financial crisis. It will not be the first central bank to do so. Compared with just a month ago, more economists now (at the time of writing) reckon that a 25bps hike will happen in July, but many still think a pause is possible in July ahead of the Hari Raya Aidiladha celebrations. In any case, at least one more rate increase (if not two) is expected to take place by the conclusion of the Sept 8 meeting to bring the OPR to at least 2.25% (if not 2.5%), consensus data show. “Our house has also shifted expectations for Bank Negara to frontload … [Read more...] about The State Of The Nation: What the Fed’s 75bps hike and near 4% terminal rate mean for the OPR

What makes A24 a cultural powerhouse is not that it released a film last spring in which an inter-dimensional assassin impales himself on an Auditor of the Month trophy, inexplicably shaped like a certain sex toy, although it most certainly did. It’s not that most cinephiles would immediately guess A24 as the company who put out that film, Everything Everywhere All at Once , even if its logo didn’t appear before the credits, although they probably would. No, what makes A24 a steady, sturdy phenomenon is that it started selling $60 designer candle replicas of that unlikely trophy just after the movie’s early-June digital release. advertisement advertisement Whether enough fans purchase the item—a collaboration with Brooklyn-based design studio, Joya —to justify its overhead cost is incidental. Everything Everywhere is now A24’s biggest hit ever , its $89 million box-office haul rendering the digital release a victory lap. The very existence … [Read more...] about I spent six weeks living in A24-world. Here’s what happened

- A + A KUALA LUMPUR (June 27): Here is a brief look at some corporate announcements and news flow on Monday (June 27) which include Dagang NeXchange Bhd, MyNews Holdings Bhd, AirAsia X Bhd, Spritzer Bhd, Sapura Energy Bhd, Pertama Digital Bhd, Southern Cable Group Bhd, Tenaga Nasional Bhd and Reach Energy Bhd. Dagang NeXchange Bhd (DNeX) signed a memorandum of understanding with Saudi Arabia-based Ajlan & Bros Holding Group (Abilitii) to explore business synergy between the two companies. DNeX said the companies will look into business collaboration in technology, software products and platforms for facilitating trade, oil and gas production and trade, software development, system integration and consultation services. MyNews Holdings Bhd posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million for the second quarter ended April 30, 2022, from RM10.32 million a year ago. The results came amid higher revenue, offset by higher cost … [Read more...] about DNeX, MyNews, AAX, Spritzer, Sapura Energy, Pertama Digital, Southern Cable, TNB, Reach Energy

Share to Twitter Share to Linkedin The 2022 Tampa Bay Buccaneers will look a tad bit less explosive compared to the 2021 version. Following the announcement of Rob Gronkowski’s retirement, this year’s Buccaneers offense will not only be without arguably the greatest receiving tight end in NFL history, they’ll also be without Antonio Brown. In other words, the 2022 Buccaneers will be without two of the best receiving weapons to enter the league since 2010. In addition to the loss of two of their top four receiving weapons, Tampa Bay could enter the season without Chris Godwin, who is still recovering from an ACL injury . Make no mistake about it, the Buccaneers will be just fine. Tom Brady is back in the fold after his 40-day retirement and Tampa Bay plays in one of the worst divisions in football in the NFC South. Combined with the likelihood that the NFC won’t feature any powerhouse teams outside of the Los Angeles Rams, the Buccaneers won’t have … [Read more...] about Following Rob Gronkowski’s Retirement, Expect Tampa Bay Buccaneers To Make Move For Tight End

- A + A BANGKOK (June 27): A tightening of Thai monetary policy will be conducted so it does not disrupt the recovery of Southeast Asia's second-largest economy, central bank officials said on Monday, reinforcing market expectations of interest rate hikes later this year. Thailand's economy will continue growing this year and next, driven by domestic demand and tourism, and could beat forecasts despite a risk that inflation will be higher than expected, Bank of Thailand (BOT) officials told an analysts' meeting. The BOT will try to prevent the economy from overheating, which would cause demand-driven inflation, by gradually shifting from the current very accommodative policy, assistant governor Piti Disyatat told the meeting. The BOT's task was to help the economy take off smoothly, he said. "It's a challenge for monetary policy to release the accelerator pedal appropriately and timely so that the recovery has good momentum," Piti said, referring to the current … [Read more...] about Thai central bank says policy tightening will not disrupt economy recovery