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Bursa Malaysia opens slightly lower but rebounds thereafter

Bursa Malaysia opens slightly lower but rebounds thereafter
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Bursa ends morning session in red on profit taking

Hong Leong Financial Group 3Q net profit up 70% year-on-year to RM577m, revenue higher at RM1 58b

Hong Leong Financial Group Bhd's third-quarter net profit rose 70.19% to RM577.27 million from RM339.2 million a year earlier due to higher contributions from all of HLFG's operating divisions, comprising Hong Leong Bank Bhd, HLA Holdings Group and Hong Leong Capital Bhd, as the financial services group prudently managed its business risks against the economic impact of the Covid-19 pandemic.

Cover Story 2: How much did Malaysia s top guns take home in 2020?

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.

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