ACN Newswire
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Yew Lee Posts RM6.1 Million Revenue in 3Q

indie
2 minutes

KUALA LUMPUR, Nov 30, 2022 - (ACN Newswire via SEAPRWire.com) - Yew Lee Pacific Group Berhad, a manufacturer of industrial brushes as well as trading of industrial hardware and machinery parts, today announced that the Group recorded revenue of RM6.10 million for the third quarter ended 30 September 2022 (3Q FY2022).Managing Director of Yew Lee, Mr. Ang Lee LeongThere are no comparisons on a year-over-year basis as the Group was listed on the ACE Market of Bursa Malaysia Securities Berhad on 7 June 2022.For the quarter under review, Yew Lee reported gross profit of RM2.12 million while registering profit before tax (PBT) of RM0.96 million and profit after tax of RM0.76 million. For the nine-month period ended 30 September 2022 (9M 2022), the Group registered RM24.35 million in revenue while recording a profit before tax of RM0.39 million and a loss after tax of RM0.41 million.Manufacturing activities contributed RM3.84 million to total revenue while trading activities contributed RM2.27 million in 3Q FY2022.Managing Director of Yew Lee, Mr. Ang Lee Leong said, "We continue to sustain and generate profit from our operations. It is worth noting that stripping the one-off listing expe...

ACN Newswire
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Indonesia Market Poised for Big Growth in Streaming

indie
4 minutes

JAKARTA, Oct 11, 2022 - (ACN Newswire via SEAPRWire.com) - For the first time in three years the Asia Video Industry Association (AVIA) returned to Jakarta to host Indonesia in View 2022, an event that welcomed some of the industry's biggest players for a day of discussions dissecting the opportunities for growth in this expansive market.Opening comments were made by Yuliandre Darwis, Commissioner with the Indonesian Broadcasting Commission (KPI) who talked about the development of the KPI over the last twenty years, and the hope for revisions to the broadcasting law which could see greater responsibilities given to them.Highlights of the Indonesia in View Report, to be published by AVIA, were given by Bettina Cavenagh, President Director, Clarity Research Indonesia, outlining the state of Indonesia's video markets in the post-pandemic economy. Pay television had plateaued and while DTH services were the biggest victims of increased broadband penetration, cable numbers were increasing meaning the overall pay TV market remained significant, even if ARPU's were under pressure. But all eyes were now on the premium OTT market. Subscription Video on Demand (SVOD) has grown by more than ...

SeaPRwire
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Leon Fuat Berhad’s Q4 Profit After Tax Jumps 61.8% to RM29 Million

pandora
3 minutes

Group’s financial performance supported by higher gross profit margin resulting from higher average selling prices SHAH ALAM, Malaysia, Feb 25, 2022 – (ACN Newswire) – Leon Fuat Berhad (“Leon Fuat” or the “Group”), a manufacturer and trader of steel products, specialising in rolled long and flat products today released the Group’s financial results for the fourth quarter ended 31 December 2021 (“Q4FY2021”) recording 61.8% growth in profit after tax (“PAT”) to RM29.09 million compared with RM17.98 million in the corresponding quarter of the preceding year (“Q4FY2020”). Calvin Ooi Shang How, Executive Director of Leon Fuat The Group is pleased to note that for the quarter under review, revenue increased by 27.8% to RM254.21 million compared with RM198.96 million in Q4FY2020 while profit before tax (“PBT”) recorded a 106.5% increase to RM38.61 million compared with RM18.70 million. On a segmental basis, revenue from trading of steel products registered a 26.5% increase to RM81.95 million while revenue from processing of steel products recorded a 28.4% rise to RM172.18 million. The trading segment’s contribution to revenue stood at 32.2% in Q4FY2021 compared with 32.6% in the correspon...

SeaPRwire

Nasdaq ends 3% higher as US stocks rally again

elean
2 minutes

NEW YORK (AFP) - Wall Street stocks rallied for a second straight session on Tuesday (Dec 7) as investors cheered early indications that the latest Covid-19 variant may be less severe than earlier rounds. The tech-rich Nasdaq Composite Index, which lagged other major indices on Monday, led with a 3 per cent jump to 15,686.92. The Dow Jones Industrial Average climbed 1.4 per cent to 35,719.43, while the broad-based S&P 500 gained 2.1 per cent to 4,686.75. After worries about the Omicron variant pushed major indices into the red last week, stocks have been on the rise this week as fears of a worst-case scenario ebb. Top US scientist Anthony Fauci told AFP that while Omicron is highly contagious, "it almost certainly is not more severe than Delta". The comments were broadly consistent with those of Pfizer chief executive Albert Bourla, who said at a Wall Street Journal event that while Omicron may spread faster than earlier variants, "it looks like it's milder, but we don't know yet". LBBW director Karl Haeling said the market's gains were "centred on reduced worries about Omicron", after sentiment had become "unsustainably pessimistic". Tuesday's economic data included a drop in the ...

SeaPRwire

Tech shares tumble to end losing week for US stocks

elean
2 minutes

NEW YORK (AFP) - The Nasdaq led Wall Street lower on Friday (Dec 3) as stocks concluded a losing week on a downcast note following disappointing results from tech highflyer DocuSign and lacklustre US jobs growth. Investors shunned highly valued tech shares after DocuSign offered a disappointing outlook and signalled that demand for its e-signature business was ebbing after a strong run during the worst of the Covid-19 pandemic. Shares of the company plunged more than 40 per cent, while other tech names like Adobe and several chipmakers were also hammered. "The growth stocks are driving the declines," said Briefing.com analyst Patrick O'Hare, who also cited lingering unease over the Omicron variant of Covid-19 and disappointment that Thursday's rally in equities was not extended. The Nasdaq ended the day down 1.9 per cent at 15,085.47. The Dow Jones Industrial Average slipped 0.2 per cent to 34,580.08, while the broad-based S&P 500 shed 0.8 per cent to close the week 1.2 per cent lower. Friday's much-anticipated jobs report showed the US economy added just 210,000 jobs, less than half the increase forecasters expected. But analysts characterised the report as better than the headlin...

SeaPRwire

S&P, Nasdaq end choppy session at records

elean
2 minutes

NEW YORK (AFP) - The S&P 500 and Nasdaq finished a choppy session at fresh records on Thursday (Nov 18), lifted by strength in large technology equities and mostly good earnings. Apple and Amazon were among the companies that enjoyed outsized gains, along with chip company Nvidia, which shot up more than 8 per cent following strong earnings. But analysts pointed to lingering worries about inflation and supply chain problems as drags on the trading session, which saw all three major indexes drift at times into the red. The Dow Jones Industrial Average was the only one to end lower, dropping 0.2 per cent to 35,870.95. The broad-based S&P 500 gained 0.3 per cent to finish at 4,704.54, while the tech-rich Nasdaq Composite Index climbed 0.5 per cent to 15,993.71 - both overtaking previous records set Nov 8. Among other companies reporting results, Macy's shares won 21.1 per cent and Kohl's jumped 10.7 per cent, while Dow-member Cisco Systems slumped 5.5 per cent. Meta, the parent company of Facebook and Instagram, was the exception among large tech companies that mostly rallied, falling 0.6 per cent on news that a group of American states are probing allegations that Instagram supplied ...

SeaPRwire

US stocks end at records again after good jobs report

elean
2 minutes

NEW YORK (AFP) - Wall Street stocks finished a sunny week on a positive note on Friday (Nov 5), with major indices again at records following strong jobs data and Pfizer's announcement of a Covid-19 therapeutic. The Dow Jones Industrial Average ended up 0.6 per cent at 36,327.95. The broad-based S&P 500 advanced 0.4 per cent to 4,697.53, climbing two percent for the week, while the tech-rich Nasdaq Composite Index picked up 0.2 per cent to 15,971.59. The US economy added 531,000 jobs last month and job gains in the prior two months were higher than originally reported, while the unemployment rate dropped to 4.6 per cent, according to government data. The better-than-expected result indicated hiring is resurging as Covid-19 infections decline. Meanwhile, Pfizer announced that a clinical trial of its pill to treat Covid-19 showed an 89 per cent reduction in risk of hospitalisation or death among adult patients at high risk of progressing to severe illness. The Pfizer medication differs from current treatments that require intravenous and must be given at health facilities, said Briefing.com. "News like this... helps investors from a psychological standpoint, instilling confidence in ...

SeaPRwire
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Teen who did backflip in rhino enclosure in S’pore Zoo allegedly consumed cannabis while out on bail

aseanpr
4 minutes

SINGAPORE - A youth who was caught on video last December doing a backflip inside a white rhinoceros enclosure at the Singapore Zoo allegedly consumed cannabis while he was out on bail. Ralph Wee Yi Kai, 19, was charged with one count of drug consumption in a district court on Wednesday (Oct 13). He was first hauled to court in July this year, when he was charged with two counts of mischief as well as one count each of vandalism and criminal trespass. Wee was offered bail of $15,000. The Singaporean was said to have taken the drug in August while out on bail. On Wednesday, Wee appeared in court via video link. He had his bail revoked earlier after he breached its conditions and was remanded. While out on bail, he was supposed to undergo urine tests at the Central Narcotics Bureau but failed to do so. Defence lawyer Shashi Nathan told the court on Wednesday that his client had been issued medical certificates for days he was supposed to go for the tests. Urging the court to grant bail, he added that Wee is now a "very different person" and has "calmed down". District Judge Terence Tay then granted Wee bail of $20,000. His pre-trial conference will take place on Nov 2. He currently f...

SeaPRwire

Wall Street closes lower on jitters ahead of earnings, Fed minutes

elean
3 minutes

NEW YORK (REUTERS) - United States stocks finished lower on Tuesday (Oct 12), extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. Adding to investor caution, the Federal Reserve is expected to release minutes on Wednesday from its last policy meeting, which market participants will scour for hints about when the US central bank could begin tapering its massive bond-buying programme. All three major US stock indexes ended in the red with the Dow down the most, weighed by healthcare and industrials. Earnings unofficially kick off this week with results from JPMorgan Chase & Co on Wednesday and other banks to follow. JPMorgan's shares shed 0.8 per cent on the day, while the S&P 500 banks index edged down 0.6%. Analysts expect to see strong US profit growth for the third quarter. But a number of companies have warned of issues and investors are worried about how supply chain problems and higher prices will affect businesses emerging from the coronavirus pandemic. "For the most part, institutional portfolio managers are of the view - let's see what earnings look like and how much of a negat...

SeaPRwire

US stocks rebound as tech shares gain

elean
2 minutes

NEW YORK (AFP) - Wall Street stocks rebounded on Tuesday (Oct 5) following the prior session's pullback as uncertainty over Washington politics and the upcoming earnings season stokes volatility. Of the major indices, the biggest gainer was the tech-rich Nasdaq, which led the market lower on Monday. Conflict in Congress has raised worries about a possible US debt default, while President Joe Biden's agenda hangs in the balance. Data showed the US services sector grew slightly more than expected in September, while PepsiCo's results also topped estimates. The strong earnings contrasted with some other recent results disappointments. "We will see more of this in the next couple weeks," Maris Ogg of Tower Bridge Advisors predicted of the upcoming earnings season. "We are going to get some pre-announcements and swing from everything is okay to everything is not okay for the next couple of weeks." The benchmark Dow Jones Industrial Average finished at 34,314.67, up 0.9 per cent. The broad-based S&P 500 added 1.1 per cent at 4,345.73, while the Nasdaq Composite Index advanced 1.3 per cent to 14,433.83. After tanking on Monday, large tech shares enjoyed a much better session, with Apple a...

SeaPRwire

Private-hire drivers, Covid-19 swabbers to be better protected under harassment law

aseanpr
2 minutes

SINGAPORE - Private-hire car drivers, temperature screeners and those who perform Covid-19 swab tests will soon be listed as public service workers and better protected under harassment laws. From July 7, under the Protection from Harassment Act, those who abuse, harass or dox these workers while they perform their duty will face double the maximum jail term compared with when the victim is not a public service worker. Doxxing is publishing identifiable information about a person to harass, cause violence or fear of violence to the person. Announcing the move in a statement on Friday (July 2), the Ministry of Home Affairs said it had reviewed the legislation for the first time since its introduction in 2014 and "identified more workers who meet the criteria for a public service worker and should receive enhanced protection against harassment". The new public service workers include many who provide Covid-19 services such as those who give vaccine jabs, private ambulance operators transporting patients and suspected cases, and private healthcare workers directly involved in Covid-19 operations. Taxi drivers are already listed as public service workers, covered under the Act. Under t...

SeaPRwire

US stocks edge to records as consumer confidence rises

elean
2 minutes

NEW YORK (AFP) - Wall Street stocks edged higher on Tuesday (June 29), adding to recent records, as US consumer confidence continued to improve while investors grapple with the latest coronavirus worries. US consumer confidence surged in June to its highest point since the start of the pandemic, propelled by the improved outlook on jobs and business conditions, according to The Conference Board. "Low virus transmission, vaccinations, and expanded reopenings made consumers much more confident," Mr Oren Klachkin of Oxford Economics said in an analysis. "Consumers are coming out of their shell." But analysts are keeping an eye on Covid-19 as the Delta strain of the virus prompts fresh restrictions in Australia and other countries. The tech-rich Nasdaq Composite Index again led the market, climbing 0.2 per cent to 14,528.33, its fifth record finish in six sessions. The broad-based S&P 500 also eked out a record, gaining less than 0.1 per cent to 4,291.80, while the Dow Jones Industrial Average finished up by a hair at 34,292.29. United Airlines lost 0.7 per cent following a choppy session after it announced a record new plane order. United plans to acquire 270 aircraft consisting of 20...

ACN Newswire

Joy Spreader Plans to Adopt a Share Award Scheme through a Stock Repurchase Program

indie
2 minutes

HONG KONG, Jun 21, 2021 - (ACN Newswire via SEAPRWire.com) - The Board of Joy Spreader (06988.HK), a Hong Kong publicly traded company, made voluntary announcement regarding its plan of adoption of Share Award Scheme through a stock repurchase program on June 21st, 2021. The announcement says that the Scheme serves the purposes to recognize the crucial and remarkable dedications and contributions of certain directors, employees, consultants and advisers of the Company, as well as to incentivize them to retain longer term tenure with the Company, while to motivate them to endeavor for the future development and expansion strategy.Analysts credit that the Company has delivered an impressive growth dynamics and positive momentum in the recent years, however, believe the current stock price fails to reflect the intrinsic value of the Company, while signifying the optimal time window to conduct a stock repurchase program for award shares scheme. The announced Scheme demonstrates the Board's genuinely confidence and resolutely determination of the Company's prospect, along with establishment a stable and long-term platform of mutual interests between the Company and selected participants...

SeaPRwire

Naked man in viral video clips charged, remanded at IMH

aseanpr
2 minutes

SINGAPORE - The man caught naked on several video clips this week, including while riding a motorcycle, was charged on Saturday (June 12). Yeo Qi Wei, 24, faced one charge of appearing nude in a public place. He is alleged to have appeared nude at the open space carpark of Block 212 Lorong 8 Toa Payoh on June 9 at about 5.45am. District Judge Ronald Gwee ordered that Yeo be remanded at the Institute of Mental Health for two weeks for psychiatric observation. The police told The Straits Times on Friday that a man had been arrested and was being investigated for other offences, including public nuisance, performing an obscene act in public, trespass and traffic violations in other separate incidents reported. Interest in the incident followed the circulation of a photo on June 10, which showed a naked man on a motorcycle at a cross junction in Eunos. A video clip of the man also began circulating the same day, showing him riding nude on a motorcycle along the Pan Island Expressway at about 100kmh. A second clip later surfaced, showing him climbing on top of a car while naked. The driver of the car could be seen coming out from his vehicle and making a call while looking at the man, w...