<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 15): Apollo Food Holdings Bhd's net profit increased 5.15% to RM9.95 million for the second quarter ended Oct 31, 2023 (2QFY2024), from RM9.46 million a year earlier, on higher gross profit margin.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share rose to 12.44 sen from 11.83 sen, the confectionery manufacturer's Bursa Malaysia filing showed on Friday.</p></div>

<div class=newsTextDataWrapInner><p>However, quarterly revenue was down 6.13% to RM65.99 million, from RM70.30 million in 2QFY2023, mainly due to a decrease in export sales.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On a quarter-on-quarter basis, the group’s net profit came in 30% higher from RM7.64 million in 1QFY2024, while revenue increased 13% from RM58.34 million.</p></div>

<div class=newsTextDataWrapInner><p>For the first six months of FY2024, the group’s net profit rose 25.37% to RM17.59 million from RM14.03 million in the same period last year.</p></div>

<div class=newsTextDataWrapInner><p>Half-year revenue declined marginally by 1.15% to RM124.32 million from RM125.76 million.</p></div>

<div class=newsTextDataWrapInner><p>Moving forward, the group said it is optimistic that it will continue to achieve satisfactory results through implementation of prudent measures and improvement in operational efficiency.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Apollo settled one sen or 0.19% higher at RM5.40 on Friday, giving the group a market capitalisation of RM432 million. Year to date, the stock has risen 39.9%.</p></div>


Apollo Food Holdings Bhd's net profit increased 5.15% to RM9.95 million for the second quarter ended Oct 31, 2023 (2QFY2024), from RM9.46 million a year earlier, on higher gross profit margin.

Apollo Food's 2Q net profit up 5.15% on higher gross profit margin

US Treasury Secretary Janet Yellen firmly rejected an accusation from the economist Nouriel Roubini that her department has manipulated the issuance of Treasury securities in a way that lowers real borrowing costs across the economy.

Yellen rejects Roubini claim of ‘manipulation’ in Treasuries

China's industrial profits grew at a faster clip in June, official data showed on Saturday, even as businesses were grappling with a downshift in consumers' sentiment amid a shaky economic recovery.

China's industrial profits post faster gains in June despite faltering economy

US Treasury Secretary Janet Yellen said on Friday that she opposes shifting global tax deal negotiations away from the Organisation for Economic Cooperation and Development (OECD) to the United Nations (UN), pushing back against the desires of some developing countries and non-profit groups.

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The main focus this week will be the US Federal Open Market Committee (FOMC) meeting on July 30 and 31.

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For years, Thai equities stood tall as one of Southeast Asia’s largest stock markets. That bullish story is fast unravelling, and not even cheap valuations can save the day.

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Rattled investors are bracing for earnings from the market’s biggest tech companies, a Federal Reserve (Fed) policy meeting and closely watched employment data in a week that could determine the near-term trajectory of US stocks following a bout of severe turbulence.

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Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns.

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A gauge of global stocks climbed for the first time in four sessions on Friday as equities steadied after a sharp selloff and US economic data showed an improving inflation landscape, sending Treasury yields lower.

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Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

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Sarawak certainly had more good reasons to celebrate its 61st year of independence last Monday (July 22).

In conjunction with the celebration, the state saw the inauguration of a new methanol plant in Bintulu and the signing of gas sales agreements — the first after state-owned Petroleum Sarawak Bhd (Petros) became the sole gas aggregator, taking over from Petroliam Nasional Bhd (Petronas).

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<p>Sarawak certainly had more good reasons to celebrate its 61st year of independence last Monday (July 22).</p>

<p>In conjunction with the celebration, the state saw the inauguration of a new methanol plant in Bintulu and the signing of gas sales agreements — the first after state-owned Petroleum Sarawak Bhd (Petros) became the sole gas aggregator, taking over from Petroliam Nasional Bhd (Petronas).</p>


<p>SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.</p>

<p>In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

<p>For years, Thai equities stood tall as one of Southeast Asia’s largest stock markets. That bullish story is fast unravelling, and not even cheap valuations can save the day.</p>


<p>Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.</p>

<p>The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.</p>


Treasuries rally as data points to a September rate cut

<p>The main focus this week will be the <b>US Federal Open Market Committee</b> (FOMC) meeting on July 30 and 31.</p>


<p>Rattled investors are bracing for earnings from the market’s biggest tech companies, a Federal Reserve (Fed) policy meeting and closely watched employment data in a week that could determine the near-term trajectory of US stocks following a bout of severe turbulence.</p>


<p>China's industrial profits grew at a faster clip in June, official data showed on Saturday, even as businesses were grappling with a downshift in consumers' sentiment amid a shaky economic recovery.</p>


<p>US Treasury Secretary Janet Yellen firmly rejected an accusation from the economist Nouriel Roubini that her department has manipulated the issuance of Treasury securities in a way that lowers real borrowing costs across the economy.</p>


<p>US Treasury Secretary Janet Yellen said on Friday that she opposes shifting global tax deal negotiations away from the Organisation for Economic Cooperation and Development (OECD) to the United Nations (UN), pushing back against the desires of some developing countries and non-profit groups.</p>
