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Cover Story: MyNews, 7-Eleven, Mr DIY top picks for convenience, speciality stores

Cover Story: MyNews, 7-Eleven, Mr DIY top picks for convenience, speciality stores The Edge 13/5/2021 Supriya Surendran © Provided by The Edge OPERATORS of mini-marts, convenience stores and cooperatives anticipate that revenue growth will be maintained this year after a strong 2020. First-quarter 2021 (1Q2021) growth is projected at 12.5%, according to an industry report. Retail growth for the furniture and furnishings, home improvement as well as electrical and electronics subsectors is pegged at a higher 14.6% in the first three months, states the Malaysia Retail Sales Report by Retail Group Malaysia. From a stock perspective, analysts are sanguine about the prospects of convenience store operators such as MyNews Holdings Bhd, 7-Eleven Malaysia Holdings Bhd and QL Resources Bhd, as well as home improvement retailer Mr DIY Group (M) Bhd. We take a closer look at the stocks.

Vincent Tan s BMF Wants To Build 5-Bedroom 900sqft Apartment, Suggests 60 Year Loan As Affordable Housing

7-Eleven Malaysia remains focused on improving product mix, optimising cost base

PETALING JAYA: 7-Eleven Malaysia Holdings Bhd’s long-term prospects remain rosy, supported by its expansion drive and synergy realisations with Caring Pharmacy and Berjaya Corp Bhd (BCorp)-related companies, said CGS-CIMB. The research house said although 7-Eleven Malaysia’s near-term sales could be impacted by weaker footfall in light of the rise in Covid-19 cases and movement restrictions nationwide, it gathers that 7-Eleven Malaysia remains focused on improving its product mix and optimising its cost base. This was illustrated in FY20 when the convenience store segment’s profit after tax margin remained stable year-on-year (y-o-y) at 2.3% (FY19: 2.3%) despite segment revenue declining by 12.7% y-o-y.

The Week That Was - Billionaires, Vincent Tan, Jendela, Circle Lines,

co-founder and CEO Tan Eng Kee. Hong Leong Group’s Quek Leng Chan continued to top the list of Malaysian billionaires with an estimated net worth of US$9.7bil. Globally, Amazon CEO Jeff Bezos remained the richest person in the world with US$177bil net worth. Vincent Tan steps back TAN Sri Vincent Tan has relinquished his executive role in his flagship Berjaya Corp Bhd, as the founding family began handing over the day-to-day running of sprawling business empire to professional managers led by Abdul Jalil Abdul Rasheed. Vincent Tan, 69, has remained as chairman of the group. On Tuesday, Vincent Tan said Jalil, together with his son executive deputy chairman Datuk Seri Robin Tan will be handling the strategic and operational decision-making and planning the future business direction of the BCorp Group.

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