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BUSINESS

News in brief: Nov 25, 2021

25/11/2021 09:08 PM

Airbus subsidiary SEPANG AIRCRAFT ENGINEERING (SAE) and the Selangor state government have signed a memorandum of understanding (MoU) focusing on Technical and Vocational Education and Training (TVET) in conjunction with Selangor training institutions and agencies.

Under the MoU, SAE and Menteri Besar Selangor Incorporated (MBI Selangor), the state’s strategic investment arm, will also jointly review, identify and develop programmes to support local small and medium enterprises within the aerospace ecosystem, it said in a statement, today.

The signed agreements were exchanged between Airbus chief country representative Malaysia Raymond Lim and MBI Selangor chief executive officer Norita Mohd Sidek.

-- BERNAMA

 

ASIA DIGITAL ENGINEERING (ADE) the wholly-owned AirAsia Group subsidiary has completed its first installation of Inmarsat’s GX Aviation inflight broadband solution.

In a statement, it said ADE aims to establish a one-stop shop for airlines that want to operate a fully connected fleet, combining its vast expertise in end-to-end engineering and maintenance, repair and overhaul (MRO) with Inmarsat’s market-leading connectivity solutions.

ADE chief executive officer Mahesh Kumar said by working with partners such as Inmarsat, we are building ADE into a market-leader that provides high quality and best value services, with a focus on using the latest technologies to increase productivity and efficiency.

Meanwhile Inmarsat Aviation vice-president of global sales Chris Rogerson said the company is delighted to collaborate on GX Aviation installations for AirAsia and other airlines in the region, bringing together the combined experience and expertise of Inmarsat, ADE and the rest of the AirAsia Group.

-- BERNAMA

 

MALAYSIA CONVENTION AND EXHIBITION BUREAU (MYCEB) had successfully organised the 7th Bid Workshop entitled “MyBE Knowledge: Innovative Bid 2021” on Nov 10-11, 2021, targeting industry players who are actively involved in securing business events through lead generation and bidding process.

Attended by over 100 attendees during the two-day virtual programme, the MyBE Knowledge is part of MyCEB’s ongoing efforts to develop the business events industry to upskill themselves in creating a strong winning bid for Malaysia.

During the programme, the faculty speakers -- Universiti Kebangsaan Malaysia (UKM) Medical Centre consultant vascular and endovascular surgeon Prof Datuk Hanafiah Harunarashi said it is crucial for the industry players to put emphasis on the significance of identifying Malaysia’s unique selling points, benefit analysis and competitive analysis to boost the delegates arrivals to the country.

They also highlighted on how to formulate a winning strategy and do an outstanding pitching to bid for international conferences, it said in a statement, today.

-- BERNAMA

 

MATRIX CONCEPTS HOLDINGS BHD’s net profit for the second quarter ended Sept 30, 2021 (Q2 FY2022) was lower to RM51.8 million from RM75.1 million recorded in the same quarter the last financial year.

Revenue also drop 8.6 per cent to RM239.5 million from RM262.01 million previously, it said in a filing with Bursa Malaysia.

The company said revenue remained healthy despite the impact of the Movement Control Order (MCO) 3.0 and full MCO for about six weeks as the group expedited its construction activities after restrictions on the sector was lifted in August 2021.

On prospects, it said the group remains cautiously optimistic of maintaining healthy performance for the financial year ending March 31, 2022, backed by encouraging demand for ongoing developments, the extension of Home Ownership Campaign until Dec 31, 2021 and low overnight policy rate of 1.75 per cent.

-- BERNAMA

 

KENANGA INVESTMENT BANK BHD’s net profit shrank to RM21.4 million in the third quarter ended Sept 30, 2021 (Q3 FY2021) from RM49.27 million in the same period last year.

Revenue also declined to RM202.65 million from RM321 million previously due to lower net brokerage and trading and investment income, partially mitigated by higher management fee income, it said in a filing with Bursa Malaysia.

On prospects, the company said with the gradual reopening of all economic sectors and lifting of restrictions, Kenanga is optimistic that the group will benefit from more positive economic outlook which will translate into higher Bursa volume as well as business activities and therefore able to sustain its profit momentum for the fourth quarter of the year.

-- BERNAMA



 


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