KUCHING: The European Union (EU) has cut imports of tropical wood and furniture products by double digits in first quarter of 2023 (Q12023) from a year ago, adversely affecting key suppliers like Malaysia. In Q12023, the bloc imported 427,000 tonnes of tropical wood and wooden furniture worth US$896 million, which
KUCHING: Media Chinese International Ltd (MCIL) expects newsprint price, which is currently at a high level, to gradually come down in the short to medium term. The will make a positive contribution to the group’s publishing and printing business, which is continuing to face challenges as high inflationary pressure will
KUCHING: China’s economy has been recovering at a rate much slower than anticipated after the country abandoned its zero COVID-19 policy in December 2022 as seen by the performance of its timber sector. According to China Customs, the country’s log imports in first quarter of 2023 (Q12023) slumped seven per
KUCHING: Subur Tiasa Holdings Bhd group has sunk into the red with net loss of RM7.24 million in first quarter ended March 31, 2023 (Q12023) from net profit of RM11.1 million in Q12022 as all its business segments were reporting losses. The dismal performance was due to significant lower group
KUCHING: Bintulu Port Holdings Bhd (BPHB) has reported sharply lower group net profit of RM22.5 million in first quarter ended March 1, 2023 (Q12023) as compared to RM41.1 million in Q12022 or down by RM18.6 million or 45 per cent. The decreased earnings was in line with shrinking group revenue
KUCHING: Ocean Vantage Holdings Bhd (OVH) has reported a 77 per cent increase in group revenue to RM47.5 million in first quarter ended March 31, 2023 (Q12023) against RM26.8 million in Q12022, thanks to the Bintulu project. The company said the higher revenue was contributed by the engineering, procurement and
KUCHING: Shin Yang Shipping Corporation Bhd (Syscorp) group net profit has surged to RM44.82 million in third quarter ended March 31, 2023 (Q32023) from RM29.95 million in Q32022, driven by increase in container cargo volume transported and higher shipping margin. The higher earnings were generated on the back of expanded
KUCHING: WTK Holdings Bhd group has posted bigger quarterly losses, dragged down by the dismal performance of its plantation business which has plunged into the red in the January-March 2023 period (Q12023). In Q12023, WTK group net loss widened to RM9.2 million from RM1.44 million in Q12022 despite an increase
KUCHING: Sarawak Oil Palms Bhd’s (SOP) earnings in the January-March 2023 period (Q12023) have been significantly impacted by the lower realised selling prices of palm products, and higher production costs. These factors have resulted in group net profit to fall sharply to about RM44.2 million from RM195 million in Q12022
KUCHING: YKGI Holdings Bhd foresees that the financial results of its second quarter ending June 30, 2023 (Q22023) may not be promising as the market is expected to be sluggish. The company said the recent surprise hike by Bank Negara Malaysia in Overnight Policy Rate (OPR) by 25 basis points
