Kumpulan Wang Persaraan (Diperbadankan)
Former Lembaga Tabung Angkatan Tentera (LTAT) chief executive Nik Amlizan, 51, was tasked in 2019 with moving the organisation beyond the financial mismanagement and irregularities that it had been embroiled in. In October 201, she took over the reins from Tan Sri Lodin Wok Kamaruddin, who had stepped down in the wake of the scandal.
Nik Amlizan is the first woman to helm the armed forces pension fund. She moved quickly to get LTAT back on track, putting in place a five-year strategic plan, along with Haniz Nazlan, who had joined the organisation in August 2019 in the newly created role of chief investment officer (CIO). Haniz told The Edge in a June interview that LTAT had lined up more than 30 investment-related initiatives for 2020 alone, which involved establishing the right framework and detailed investment plans, as well as enhancing existing policies and processes to guide the long-term transformation journey towards becoming a world-c
KUALA LUMPUR (Jan 13): Based on corporate announcements and news flow today, stocks that may be in focus tomorrow (Jan 14) include: Eco World Development Group Bhd, UEM Sunrise Bhd, George Kent (Malaysia) Bhd, Chin Hin Group Property Bhd, WCT Holdings Bhd, Greatech Technology Bhd, HeiTech Padu Bhd, Aeon Credit Service (M) Bhd, Dayang Enterprise Holdings Bhd, Landmarks Bhd, Petronas Dagangan Bhd, Maxis Bhd, Genting Malaysia Bhd, AE Multi Holdings Bhd, PNE PCB Bhd and Wintoni Group Bhd.
Eco World Development Group Bhd (EcoWorld) said the property developer’s board has decided not to pursue the proposed merger with rival
UEM Sunrise Bhd following careful evaluation of the merger alongside EcoWorld’s own business plans and the current challenging environment with the re-implementation of the Movement Control Order (MCO). EcoWorld said that since the last announcement on Dec 30, 2020 regarding the proposed merger, the parties involved had been engaged in discussions with a view tow
KUALA LUMPUR (Dec 18): MIDF Research has raised its target price on Eco World Development Group Bhd (EcoWorld) to 64 sen from 57 sen prior as the firm lowered its revalued net asset value discount to 72% from 75% previously thanks to its improved earnings visibility.
In a note today, the firm said it maintained a buy call on the property developer due to its commendable new property sales and attractive valuation .
MIDF said its FY20 earnings exceeded expectations, at 117% of its estimates and 148% of consensus. The earnings surprise could be attributed to stronger-than-expected property sales in 4QFY20. Note that we have excluded inventories write down and impairment in our core net income calculations, it said.
KUALA LUMPUR (Dec 17): Eco World Development Group Bhd (EcoWorld) and its 27%-owned associate Eco World International Bhd (EWI) have set a combined sales target of RM5 billion for the financial year ending Oct 31, 2021 (FY21). Based on the strategic plans we have put in place in every geographic location to restrategise and refocus on key segments of the market that have proven depth and resilience, I am confident that the target, despite being 30% higher than the sales achieved in FY20, is attainable, said EcoWorld chairman Tan Sri Liew Kee Sin.
“In addition, the proactive steps taken in FY20 to reduce and reset the cost structure of both our Malaysian and international operations, coupled with our team’s willingness to continually reinvent and relearn the way we do business, will help counteract the impact of a soft property market and preserve our cash flow and profit.
KUALA LUMPUR (Dec 17): Based on corporate announcements and news flow today, companies that may be in focus on Friday (Dec 18) include: Latitude Tree Holdings Bhd, Metronic Global Bhd, My EG Services Bhd, Dutch Lady Milk Industries Bhd, Affin Bank Bhd, Eco World Development Group Bhd, Eco World International Bhd, VS Industry Bhd, Scientex Bhd, LKL International Bhd and Perak Corp Bhd.
Latitude Tree Holdings Bhd has proposed a one-for-one bonus issue of up to 97.16 million new shares plus an employees’ share scheme (ESS) of up to 10% of the total issued share capital of the company.
The furniture maker said the actual number of bonus shares to be issued will depend on the total issued shares on the entitlement date, which will be determined and announced at a later date upon receipt of all relevant approvals. It said the ESS is for eligible directors and employees of the company and its subsidiaries.