Malaysia's Felda Global Ventures posts 35% rise in profit

Felda Global Ventures, the world's third-largest palm plantation operator, reported a 35 per cent rise in second-quarter earnings, supported by stronger crude palm oil production following moves to boost fruit yields.

The Malaysian firm's net profit rose to RM62.2 million (S$21 million) in the quarter ended June from RM46.1 million in the same period last year.

Revenue eased slightly to RM4.14 billion from RM4.19 billion the previous year.

"Rising commodity prices have provided optimism to the plantation's earnings outlook and we are in a good position to take advantage of the general tightness in supply," Felda Global chief executive Zakaria Arshad said in a statement.

Palm oil output is facing a production squeeze this year due to the ongoing effects of a crop damaging El Nino weather event, which brings hot, dry weather to Southeast Asia and lowers fruit yields.
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Australia: Shares edge up amid mixed earnings, Fed uncertainty

Australian shares edged higher on Monday as investors digested a mixed bag of earnings results and the possibility of a United States rate hike before long, while New Zealand stocks continued their ascent to record highs.

Companies in Australia were showing they could cope with a mining downturn. But recent comments from Federal Reserve policymakers indicating a rate hike could come at a September policy meeting kept investors cautious.

After see-sawing between positive and negative territory, the S&P/ASX 200 index was up 5.817 points, or 0.11 per cent, at 0234 GMT.

The benchmark was 0.1 per cent lower last week, the first with annual earnings results.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Hong Kong: Stocks open higher after oil's rise

Hong Kong stocks advanced at the open on Friday as gains on Wall Street and a rise in the oil price boosted sentiment, while shares in China dipped slightly.

The Hang Seng Index added 0.24 per cent, or 56.4 points, to 23,079.56. The benchmark Shanghai Composite Index slipped 0.12 per cent, or 3.72 points, to 3,100.39, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, was flat, edging down 0.08 per cent, or 1.57 points, to 2,040.65.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Dow, S&P 500 close lower as oil prices drop

The Dow Jones Industrial Average and S&P 500 Index closed lower Monday as oil prices slipped, while the Nasdaq Composite Index finished at its highest level in more than a year. The Dow industrials closed down 27.73 points, or 0.2%, at 18,404.51, weighed by more than 3% drops in shares of Exxon Mobil Corp. and Chevron Corp. The S&P 500 declined 2.76 points, or 0.1%, at 2,170.84, as the energy sector dropped 3.3%. Oil prices settled down 3.7% at $40.06 a barrel. The Nasdaq rose 22.06 points, or 0.4%, to close at 5,184.20, its highest close since July 21, 2015.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter :http://www.twitter.com/epicresearchsg Like Us On Facebook :http://www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Malaysia Airline News Update : Epic Research Singapore

Shares of Malaysia Airline System (MAS) rose as much as 10.4 per cent on Monday after state fund Khazanah Nasional said it will offer 27 sen for each share in the company it does not own, amounting to nearly 1.4 billion ringgit (US$435 million) to take the troubled airline private.


MAS shares were trading at 26 sen per share at 0101 GMT, 8.3 per cent higher than the 24 sen when the stock was suspended on Friday. Its shares topped the most active list on the Malaysian bourse on Monda.

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Malaysia Airlines Market News Update : Epic Research Singapore

The Netherlands on Sunday scrapped plans to send an international armed mission to secure the crash site of Malaysian flight MH17, fearing a deployment risked being dragged into the conflict in east Ukraine.

Dutch authorities leading the probe into the downing of the passenger airliner carrying 298 people had along with Australia planned to send armed officers, but Prime Minister Mark Rutte said this is no longer viable.

"Getting the military upper hand for an international mission in this area is according to our conclusion not realistic," Rutte told journalists in The Hague, noting the presence of heavily armed separatists and the proximity of the border with Russia - accused of backing the rebels.

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Malaysia Airlines Market News Update : Epic Research Singapore

The chances of Dutch and Australian police reaching the crash site of Malaysia Airlines flight MH17 are not good, and the effort could take days, a senior Australian official said Monday.

An unarmed team of Dutch and Australian officers was forced to drop their plans to visit the site Sunday as heavy bombardments rocked towns close to the area where the plane was shot down, killing all 298 on board.

And tensions were such that the Netherlands scrapped a plan to send an international armed mission in to secure the site, with the Dutch Prime Minister saying it was "not realistic".

Australian Federal Police deputy commissioner Andrew Colvin said it was not known when recovery teams will get to the impact zone.

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Malaysia Airlines Market News Update : Epic Research Singapore

A senior separatist leader, Aleksander Borodai, handed over two black boxes from an airliner downed over eastern Ukraine to Malaysian experts in the city of Donetsk in the early hours of Tuesday. A room packed with journalists at the headquarters of his self-proclaimed Donetsk People's Republic as an armed rebel placed the boxes on a desk. Both sides then signed a document, which Borodai said was a protocol to finalise the procedure after lengthy talks with the Malaysians.

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Malaysia Airlines Market News Update : Epic Research Singapore

Australia's prime minister voiced deep concern on Monday that Russian-backed rebels remained in control of the crash site of a Malaysian airliner shot down over Ukraine, saying the site looked more like a "garden clean-up" than a forensic investigation.

At least 27 Australian passengers were among the 298 people aboard Malaysian Airlines Flight MH17, shot down over eastern Ukraine in an attack the West has blamed on separatist rebels armed by Russia.

Prime Minister Tony Abbott, speaking on a breakfast radio show, said he had spoken "overnight" to Russian President Vladimir Putin for the first time about the disaster, amid mounting horror over the treatment of victims' remains. "He said all the right things and now we need him to be as good as his word," Abbott told 2GB radio, declining to comment in detail about his discussion with Putin.

US Secretary of State John Kerry on Sunday demanded Moscow take responsibility for actions of pro-Russian rebels whom Washington suspects of downing the jet with a missile. He expressed disgust at their "grotesque" mishandling of the bodies.

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Malaysia Airlines Market News Update : Epic Research Singapore

President Barack Obama said on Friday the downing of a Malaysian jetliner in a Ukrainian region controlled by Russian-backed separatists should be a "wake-up call" for the West in its drive to hold Russia accountable for a crisis that appears to be at a turning point.

While stopping short of blaming Moscow for Thursday's crash of Malaysia Airlines Flight 17, in which 298 people died, Obama accused Russia of failing to stop the violence that made it possible to shoot down the plane. The United States has said the jetliner was hit by a surface-to-air missile fired from rebel territory. "This certainly will be a wake-up call for Europe and the world that there are consequences to an escalating conflict in eastern Ukraine; that it is not going to be localized, it is not going to be contained," Obama told reporters.

Increasing international demands for an investigation into the crash present Obama with the opportunity, at least temporarily, to counter the perception that his presidency's global influence is eroding and to exert leadership at a time when his domestic and foreign policy initiatives appear to be faltering.

Television broadcasts of pro-Russian rebels sifting through the remains of the Boeing 777-200 divert attention from a crisis in the United States involving child migrants on the southern US border and crises abroad including Israel's ground assault in Gaza and Islamist gains in Iraq.

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Malaysia Airlines Market News Update : Epic Research Singapore

Shares in Malaysia Airlines tumbled almost 18 per cent on Friday after one of its passenger jets crashed in violence-wracked Ukraine, just months after the carrier was hit by the loss of a plane over the Indian Ocean.

The firm fell 17.8 per cent to 0.185 ringgit at one point in morning trade on the Kuala Lumpur stock exchange, before paring some of those losses to sit 13 per cent lower.

Malaysian Airlines flight MH17 was carrying 298 people from Amsterdam to Kuala Lumpur when it came down late Thursday over eastern Ukraine, with US officials said it was shot down by a surface-to-air missile.

Ukrainian government forces are engaged in a fierce battle to quell a rebellion in the country's east by pro-Russian insurgents.

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Malaysia Airlines Market News Update : Epic Research Singapore

There were 298 people, including 154 Dutch nationals, on board the Malaysia Airlines flight that crashed in strife-torn eastern Ukraine on Thursday, an official from the carrier said.

"There were 283 passengers and 15 crew members on board the plane," Malaysian Airlines vice president Huib Gorter told reporters at a press conference at Amsterdam's Schiphol airport from where the doomed flight had taken off.

He gave a preliminary breakdown of the passenger's nationalities, saying: "154 were Dutch, 27 were Australian." In addition, 23 others were from Malaysia, 11 were Indonesian, six were British, four were German, another four were from Belgium, three were from the Philippines and one was Canadian.

Around 50 passengers remained unidentified, Mr Gorter said.

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Malaysia Airlines Market News Update : Epic Research Singapore

A Malaysian airliner was shot down over eastern Ukraine by militants on Thursday, killing all 295 people aboard, a Ukrainian interior ministry official was quoted as saying by Interfax-Ukraine news agency.

The aircraft, which other sources said was a Boeing 777 flying from Amsterdam to Kuala Lumpur, came down near the city of Donetsk, stronghold of pro-Russian rebels, Anton Gerashchenko said, adding that it was hit by a ground-to-air missile.

There was no further confirmation of the report, although Ukrainian officials said local residents had found wreckage.

Malaysia Airlines said on its Twitter feed it had lost contact with its flight MH-17 from Amsterdam.

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Malaysia Airlines Market News Update : Epic Research Singapore

The head of Australia's transport safety bureau has defended the fruitless hunt for missing Malaysia Airlines Flight MH370, saying he is confident that search teams are targeting the right area.

Satellite analysis in the days after the Boeing 777 went missing on March 8 with 239 people onboard placed the jet somewhere in a huge tract of the Indian Ocean stretching from near Indonesia south towards Antarctica.

But in a setback, the area believed to be the jet's most likely resting place based on the detection of acoustic "pings" was Thursday ruled out after an extensive underwater search.

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Malaysia Airlines Market News Update : Epic Research Singapore

The swathe of Indian Ocean where acoustic transmissions were detected was Thursday ruled out as the crash zone of missing Malaysia Airlines Flight 370 after a lengthy underwater search.

The Australian-led Joint Agency Coordination Centre said that the search in the area using a mini sub where the ping-emitting beacons were believed detected in early April was now complete.

The Joint Agency Coordination Centre can advise that no signs of aircraft debris have been found by the autonomous underwater vehicle since it joined the search effort.

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Epic Research Singapore : Malaysia Airlines Market News Update

Malaysian Airlines earnings set to show financial burden of loss of MH370
 
Malaysian Airlines will report first-quarter earnings later on Thursday that are set to provide confirmation of just how badly the already loss-making carrier's finances have been hit by the vanishing of flight MH370 on March 8.

The carrier known as MAS reported a net loss of 343 million Malaysian ringgit (US$106 million) for the last quarter of 2013, squeezed between AirAsia Bhd on short-haul routes, and Gulf carriers and AirAsia X in the medium and long-haul market. The first-quarter numbers are expected after the close of trading on the Malaysian stock exchange on Thursday.

Its worst quarter on record was in October-December 2011, when a series of one-off provisions related to jet deliveries and maintenance pushed it to a 1.28 billion ringgit net loss.

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Epic Research Singapore : Tiger Airways Market News Update

Singapore’s Tiger Airways Holdings warned of a bleak outlook as it reported a huge increase in its fourth-quarter net loss after the airline was hurt by losses in its joint ventures and exceptional charges.

 

BUDGET carrier Tiger Airways posted a loss of S$95.5 million for the fourth quarter ended March 31, deepening the red ink from the S$15.38 million loss posted in the corresponding quarter a year earlier.

Revenue fell from S$240.62 million previously to S$161.9 million in the quarter under review; loss per share widened to 9.68 Singapore cents from a loss per share of 1.79 Singapore cents in 4QFY13.
 

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Epic Research Singapore : Malaysia Airline Market News Update

The undersea search for missing Malaysia Airlines Flight MH370 is to be extended beyond the small area identified as its most likely resting place as the quest for any sign of the missing plane enters its 50th day on Saturday.

The submarine drone Bluefin 21 has so far searched about 95 per cent of a 10 sq km area of the Indian Ocean seabed, pinpointed after the detection of acoustic pings believed to be from the plane's black box flight recorders.
Bluefin 21 had to abort the search on Friday and resurface due to a software malfunction. Technicians fixed the drone overnight and its 14th, 16 hour trip to the sea floor at depths of more than 4.5 km was underway on Saturday. "If no contacts of interest are made, Bluefin-21 will continue to examine the areas adjacent to the 10km radius,"Australia's Joint Agency Coordination Centre (JACC) in in charge of the search said in a statement.

Flight MH370 disappeared without a trace on March 8 flying from Kuala Lumpur to Beijing with 239 people on board.

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Epic Research Singapore : Malaysia Airline Market News Update

A United States Navy deep-sea drone is diving to unprecedented depths to scour a remote stretch of the Indian Ocean floor for a missing Malaysian jetliner as the Malaysian government said it may use more remote control submarines to help with the search.

The Bluefin-21 and its "side scan" sonar has become the focal point of the search 2,000km west of the Australian city of Perth, where authorities believe Malaysia Airlines Flight MH370 hit the ocean after disappearing from radars on March 8 with 239 people on board.

Now in its seventh week, the search has centred on a city-sized area where a series of "pings" led authorities to believe the plane's black box may be located. But after almost two weeks without a signal, and long past the black box battery's 30-day life expectancy, authorities have turned to the Bluefin-21.

After the US$4 million Bluefin-21's searches were frustrated by an automatic safety mechanism which returns it to the surface when it exceeds a depth of 4.5km, authorities have adjusted the mechanism and have sent it as deep as 4,695m, a record.

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Epic Research Singapore : Malaysia Airline Market Update

           MH370 search to be most costly ever at US$100m

The search for missing Malaysia Airlines Flight MH370 is set to be the most expensive in aviation history, analysts say, as efforts to find the aircraft deep under the Indian Ocean show no signs of slowing.
 
Australia, which is leading the search in a remote patch of water described as "unknown to man", has not put a figure on spending, but Malaysia has warned that costs will be "huge".

"When we look at salvaging (wreckage) at a depth of 4.5 kilometres (2.8 miles), no military out there has the capacity to do it," Transport and Defence Minister Hishammuddin Hussein said Thursday.

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