Malaysia Business News Updates

Petronas' Reports less Expected profits.

In tandem with the steep decline in oil prices, Petroliam Nasional Bhd (Petronas) is expected to report less than RM10bil in pre-tax profit for its soon-to-be released fourth-quarter results for the financial year 2014 (FY14), say industry sources.

Honda Malaysia aims to increase its market share - Launsh of New HR-V compact SUV

Honda Malaysia aims to increase its market share to 12.2% this year with a sales target of 85,000 units.
Honda Malaysia is targetting to sell 700 units each month of the newly launched Honda HR-V compact SUV (sports-utility vehicle), which has a starting price of RM99,800.

Price fall in Crude Oil to affect Malaysia's export growth

The heavy fall in crude oil prices and the weaker global economy are expected to weigh down on the country’s export growth, which is projected to moderate to between 2% and 3% this year.

Public Bank Announces Record net profit.

Public Bank Bhd has declared a record net profit of RM4.52bil for its financial year ended Dec 31, 2014, up 11.17% from RM4.06bil a year earlier. Revenue improved 10.45% to RM16.86bil.

MEGB selling out its properties for RM79.7mil

Masterskill Education Group Bhd’s (MEGB) wholly-owned subsidiary Masterskill (M) Sdn Bhd (MMSB), which is seeing the entry of new shareholders, is disposing of its property assets and in Masai, Johor to a private company managed by outgoing major shareholder Siva Kumar M. Jeyapalan for RM79.7mil.

Fututech Acquires a Construction Company for RM50mil.

Construction company Fututech Bhd is acquiring a private construction company belonging to its executive chairman Tee Eng Ho for close to RM400mil, which will result in Fututech garnering a RM2bil order book from that private company,the acquisition comes with a profit guarantee close to RM150mil for three years.

Indicator for Propery Buyers

There is growing evidence of softening demand for residential property priced at RM1mil and above, as buyers turn cautious amid an abundance in the higher end of the market.

But an expanding working population in growing cities around, the country will keep demand in the affordable housing segment steady in 2015, according to speakers at the Property Market Outlook for 2015 seminar.

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