SunCon’s 1Q net profit falls 47% on MCO impact, but group optimistic on prospects
KUALA LUMPUR (May 21): Sunway Construction Group Bhd’s (SunCon) first quarter net profit fell 47% year-on-year to RM16.
New Zealand opens bars, four-day work week idea floated
KUALA LUMPUR (May 21): Bars and pubs opened in New Zealand for the first time in months today, as restrictions to limit the spread of the coronavirus were eased further and the government looked to revive economic activity, Reuters reported today.
Hatten Group to cut jobs, staff salaries, close unprofitable units
KUALA LUMPUR (May 14): Hatten Group will be closing its non-performing business units, which would see affected employees being placed on temporary lay-off scheme until the global economic situation recovers, upon which the company will arrange for their potential return.
More than 8,600 businesses closed down in April in Singapore
SINGAPORE (May 12): More than 8,600 business entities in Singapore have closed down in April - more than a double compared to March as well as during SARS in 2003 and economy recession in 2009, as Covid-19 pandemic continues to bite.
Hong Kong’s Ocean Park needs HK$5b from taxpayers
KUALA LUMPUR (May 12): Hong Kong’s cash-strapped Ocean Park could go bankrupt next month unless it receives an urgent bailout of HK$5.
Retail, hospitality sectors may see 15-20% closure
KUALA LUMPUR (May 9): The retail and hospitality sectors were among those that have been badly hit as travel had come to an almost complete halt due to Covid-19, The Edge reported today.
Covid-19: Pegasus halts F&B expansion, commercial space revamp
KUALA LUMPUR (May 9): Loss-making Pegasus Heights Bhd, which is involved in leasing out commercial properties, has postponed its plans to expand its new F&B business and revamp its Seremban shopping mall in light of the Covid-19 pandemic.
BNM cuts OPR by 50bps to 2% amid worldwide pandemic-induced economic disruptions
KUALA LUMPUR (May 5): Bank Negara Malaysia (BNM) has cut its overnight policy rate (OPR) by 50 basis points (bps) to 2%, a level last seen during the 2008-09 global financial crisis.
Property developers seen revising sales, launch targets as Covid-19 takes toll on economy
KUALA LUMPUR (May 5): Hong Leong Investment Bank Bhd (HLIB) said today it sees the likelihood of property developers in Malaysia revising sales and launch value targets as the Covid-19 pandemic takes its toll on the broader economy.
Blu Inc Media ceases operations today
KUALA LUMPUR (April 30): Malaysian publishing company Blu Inc Media announced is ending both its print and digital publications today, effective immediately.
