Malaysia’s biggest port operator, Westports Holdings Bhd, is considering external strategic investors to help fund a RM39.6bil expansion that will see capacity nearly double in coming decades.
THE Covid-19 pandemic has caused many companies to be in financial distress, forcing some to temporarily shut down factories and operations for at least two months from mid-March in 2020 and experiencing lower demand after that.
With numerous firms seeing a decline in earnings, and many falling into the red, one wonders how much Malaysia’s top brass were paid in 2020 versus the year before.
According to data compiled by The Edge, among the top 50 companies by market capitalisation, the heads of 15 firms took a pay cut, 13 saw a bump in their paycheques and only two those of Supermax Corp Bhd and Time dotcom Bhd had no change in pay.
MR DIY brothers debut on Forbes richest list 07 Apr 2021 / 23:55 H.
PETALING JAYA: This year’s Forbes world’s billionaire list saw the addition of MR DIY Group’s Tan Brothers, Westports Holdings Bhd’s Tan Sri G Gnanalingam and Greatech Technology Bhd co-founder and CEO Tan Eng Kee.
Brothers Tan Yu Yeh and Tan Yu Wei of MR DIY Group Bhd have an estimated net worth of US$1.8 billion (RM7.4 billion) and US$1.1 billion.
Malaysia’s largest home improvement retailer MR DIY (
pix) made its debut on the Main Market of Bursa Malaysia Securities in October last year. The initial public offering (IPO) was the largest on Bursa Malaysia since 2017 with a market capitalisation of RM10 billion. The IPO raised RM1.5 billion from both institutional and retail investors.
Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.
1. The Tan brothers of MR DIY Group (M) together with Westports’s Tan Sri G Gnanalingam and Greatech Technology’s Tan Eng Kee join Forbes billionaires list this year.
2. Tan Sri Tony Fernandes and Datuk Kamarudin Meranun sell off Caterham Cars to Japanese retailer VT Holdings.
3. Moody s expects Malaysia s non-performing loan (NPL) level to increase once the various debt relief programmes end.
4. Genting chairman and CEO Tan Sri Lim Kok Thay expects significant challenges to persist in 2021 despite the nascent recovery in the regional gaming market.