Itmax System to raise RM342.4m from IPO

KUALA LUMPUR: Itmax System Bhd, en route to listing on Bursa Malaysia Main Market on Dec 13, plans to raise RM342.4 million from its initial public offering (IPO). At an enlarged issued share capital of 1.03 billion shares and share price of RM1.07, its market capitalisation will be RM1.1 billion. The company is primarily involved … Read more

Affin to focus on retail community, SME banking

KUALA LUMPUR: Affin Bank Bhd will put its focus on retail community banking and SME enterprise banking as they see pockets of opportunities for growth in that sector. Its president and group CEO Datuk Wan Razly Abdullah Wan Ali said that at a press briefing after the company’s EGM on Nov 15. “Despite headwinds such … Read more

Berjaya Starbucks partners Yinson GreenTech to offer EV charging at stores

PUNCAK ALAM: Berjaya Food Bhd’s (BFood) wholly owned subsidiary, Berjaya Starbucks Coffee Co Sdn Bhd (BStarbucks), has partnered with Yinson Holdings Bhd’s green technologies business unit Yinson GreenTech (YGT) to offer chargEV, an electric vehicle (EV) charger, at its stores, becoming the first retail coffee chain in Malaysia offering the facility. BStarbucks and YGT today … Read more

Taiwan’s ALP unveils its first smart warehouse overseas – in Malaysia

KLANG: Taiwan’s Ally Logistic Property (ALP) today unveiled its first smart warehousing facility in Malaysia – the 27-acre ALP Bukit Raja OMega worth US$180 million (RM844 million) at Bukit Raja Industrial Park here. ALP’s multi-tenant warehouse is scheduled to be ready by the third quarter of 2024. ALP is partnering with the Employees Provident Fund … Read more

Petronas doubles H1’22 net profit

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which declared a RM50.0 billion dividend to the government for FY22, saw its net profit for the second quarter ended June 30, 2022 more than double to RM23.0 billion from RM9.6 billion in the same quarter last year in tandem with higher revenue, partially offset by higher product costs … Read more

Malaysia’s GDP growth tipped to enter lower gear in coming quarters

PETALING JAYA: The strong growth in the Malaysian economy, as witnessed in the second quarter of this year, is not expected to continue into the coming quarters as the low-base effect dissipates over time, say economists. MARC Ratings chief economist Firdaos Rosli compared the country’s economic recovery to a bouncing ball where “the first bounce … Read more

Asia Media in good position to exit PN17 status

PETALING JAYA: Asia Media Group Bhd is confident of exiting PN17 status by the end of the current financial year ending March 31, 2023 (FY23) mainly by securing new contracts for its online advertising and digital marketing business. “We have completed a full financial year in the black, with all quarters being profitable. The last … Read more

MAA revises upwards 2022 TIV forecast to 630,000 units

PETALING JAYA: The Malaysian Automotive Association (MAA) has revised its 2022 total industry volume (TIV) forecast to 630,000 units from a previously estimated 600,000 units following a strong performance in the first half of the year. The TIV registered in the first six months of 2022 (H1’22) increased 33% at 331,386 units from 249,178 units … Read more