Analysis: After public image ‘blip’ and record profits, what’s next for Singapore Airlines?

SINGAPORE, June 2 — Recent negative feedback surrounding its inflight dining experience is but a short-term dent on the premium image of Singapore Airlines (SIA), aviation and branding experts said, adding that the national carrier’s brand continues to be an invaluable asset for the company.

It is important that the airline builds upon this asset as it navigates the challenging post-Covid-19 environment, because even remarkable gains such as its record annual profit may not be sustainable in the long term, they cautioned.

The analysts were speaking to 

Miti secures RM23b potential investment, RM2.1b potential exports to Japan

KUALA LUMPUR, June 2 ― The Ministry of Investment, Trade and Industry (Miti) successfully secured a total of RM23.07 billion potential investment and RM2.1 billion potential exports of products and services to Japan following the recently concluded Trade and Investment Mission (TIM) to Tokyo and Osaka.

The five-day mission, led by Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz from May 29 to June 2, 2023, was part of the ministry's continuous effort in promoting Malaysia as a preferred foreign direct investment (FDI) and sourcing destination in Sou...

IATA: Air passenger traffic up 45.8pc in April 2023, domestic traffic fully recovered

KUALA LUMPUR, June 2 — Total air passenger traffic in April 2023 rose 45.8 per cent compared to April 2022, with the current global traffic standing at 90.5 per cent of pre-Covid-19 levels, said the International Air Transport Association (IATA).

The association said domestic traffic for April this year rose 42.6 per cent compared to the year-ago period and has now fully recovered, posting a 2.9 per cent increase over the April 2019 results.

“International traffic climbed 48.0 per cent versus April 2022 with all markets recording healthy growth, with carriers...

As Panasonic cuts local ops, Rafizi says Malaysia must chase new high-income edge

SHAH ALAM, June 1 — Malaysia must accept it was losing its competitive advantages from three decades ago and adapt, Economy Minister Rafizi Ramli said of Panasonic Manufacturing Malaysia Berhad’s closure of two facilities in the country.

Calling the “restructuring exercise” part-and-parcel of a private company’s overall planning and decisions, Rafizi said Malaysia must develop a new competitive edge that better suited the country’s goal of reaching high-income status.

Rafizi said this included injecting new leadership in the relevant e...

Research firms remain positive on CIMB

KUALA LUMPUR, June 1 ― Research firms continue to favour CIMB Group Holdings Bhd (CIMB) following its strong first quarter of financial year 2023 (1QFY2023) performance, coupled with its current inexpensive valuation.

In a note today, Kenanga Investment Bank Bhd (Kenanga) said that CIMB’s 1Q2023 net profit of RM1.65 billion was within expectations.

“The group has made headways to record double-digit return on equity (ROE) performance and has built channels to help sustain earnings performance across its key regions.

“CIMB’s return to dou...

Singapore economy beats estimates but govt warns of global risks

SINGAPORE, May 30 — Singapore’s economy posted better-than-expected results in the first quarter of 2023, official data showed Thursday, but the government warned that the global outlook remains gloomy.

The Southeast Asian city-state’s economic performance is often seen as a barometer of the global environment because of its reliance on international trade.

Its economy expanded by 0.4 per cent on-year in the quarter starting January, slower than the 2.1 per cent on-year growth in the previous quarter but better than an advance estimate released last mon...

Tengku Zafrul: Malaysia remains preferred investment hub, with RM71.4b put in and almost 24,000 jobs created

KUALA LUMPUR, May 30 — Malaysia has managed to attract RM71.4 billion in approved investments for the first quarter of 2023 between January and March (Q12023), Datuk Seri Tengku Zafrul Abdul Aziz said.

The minister of investment, trader and industry said this proved the country’s value as a preferred investment destination where 1,265 projects were approved and these projects are expected to generate 23,977 new job opportunities across the manufacturing, services, and primary sectors.

“Our ability to attract RM71.4 billion in approved investments for th...

TNB shares falls nearly 2pc as mild profit taking ensues

KUALA LUMPUR, May 30 ― Tenaga Nasional Bhd's share price fell by more than two per cent in the early trade on Tuesday due to mild profit-taking, in sync with the not-so-rosy market performance.

At 10.55am, the counter eased by 23.0 sen or 2.17 per cent to RM9.52 from RM9.75 at the close yesterday, with about one million shares traded.

Yesterday, TNB reported that its net profit surged 12.2 per cent to RM1 billion in the first quarter (1Q) ended March 31, 2023, from RM893.10 million in the same quarter last year.

The increase was primarily attributed to lowe...

JStar Motion invests RM300m to set up manufacturing plant in Kulai

KULAI, May 27 — JStar Motion Sdn Bhd (JStar), a subsidiary of China-based Zhejiang Jiecang Linear Motion Technology Co Ltd (Jiecang), has invested RM300 million in setting up its manufacturing plants in Kulai, Johor.

JStar’s director Tony Wong said the plants were the company’s first manufacturing set up in Asean, signifying its confidence and support for the economic development of both the state and Malaysia as a whole.

In his speech at the opening ceremony of the plants at [email protected], here today, he said the company had grown by leaps and...

Sun Life ready to keep growth going in Malaysian market despite challenges

PETALING JAYA, May 27 — Financial services company Sun Life is confident it will continue reaping the growth potential offered in the Malaysian market by riding on its strong bancassurance and bancatakaful distribution capabilities to embrace both direct and hybrid agency channels.

Sun Life president and chief executive officer Kevin Strain said its 10-year success story in Malaysia has proven opportunities will continue to flourish for the insurance and family takaful provider.

“I’m so proud of Malaysia and not just the growth. We’ve seen our sta...