Felda Global Ventures Holdings Bhd (FGV) has recorded a net profit of RM38.77 million in the third quarter (Q3) ended September 30, 2017 from a net loss of RM73.61 million recorded in the same quarter a year ago. The company…
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Mitsubishi Materials shares drop after units falsify product data
Mitsubishi Materials Corp saw its stock fall as much as 11 percent on Friday after it said three subsidiaries had falsified product data, marking the latest in a series of quality assurance scandals involving Japanese manufacturers. Mitsubishi Materials said inspection…
Guizhou invests US$400 million in building factory in Vietnam
Guizhou Tyre Co recently signed an agreement with Vietnam’s Qianjiang province for a total investment of US$400 million to build a factory in Longjiang Industrial Park in Qianjiang. The project will be carried out in three phases. The first phase…
Malaysia to introduce rubberised roads in Sabah to address low rubber price
The Sabah government will introduce the use of rubber in paving roads and ‘green tyres’ as a long-term strategy to address the issue of low rubber prices, said Deputy Chief Minister Datuk Seri Yahya Hussin. Yahya, who is also Sabah…
Hainan sets up R&D center for crude rubber
A global research and development center for natural rubber has been established in south China’s Hainan Province. The center, set up Saturday by Chinese and global organizations in Hainan’s Boao, aims to develop a new market for China’s crude rubber…
Michelin to sell stake in Double Coin jv
French tyre-maker Michelin has reached an agreement to sell 40% of its shares in the Chinese joint venture Double Coin (Anhui) Warrior Tire Co. Michelin said it would sell 30% of its stake to Shanghai Huayi Group Corp. Ltd. while…
Honda China JVs to recall 254,650 vehicles starting in January
Honda Motor Co’s joint-venture companies in China will recall a total of 254,650 Honda-brand vehicles starting on Jan. 8, 2018, the Japanese automaker said. The recall is to repair faulty rear-view mirrors on the doors of Honda car models sold…
Three large scale projects to generate RM520 Million in revenue for Kedah, Malaysia
The Malaysian state of Kedah is expected to generate a revenue of about RM520 million via three large scale development projects currently in the pipeline, the State Legislative Assembly sitting was told today. State Industry and Investment, Domestic Trade, Cooperatives…
Supermax Q1 PBT rises 53.5 % to RM40.66 million
Supermax Corporation Bhd’s pre-tax profit for the first quarter ended Sept 30, 2017 jumped 53.5 % to RM40.66 million compared with RM26.49 million recorded in corresponding quarter last year. Revenue increased 16 % to RM312.02 million from RM269.0 million registered,…
Halcyon Agri to purchase RCMA Group Pte Ltd‘sPolymer Division for US$33.8 million
Halcyon Agri Corporation Limited, one of the world’s largest natural rubber supply chain managers, has entered into an agreement with RCMA Group Pte Ltd to acquire the assets and entities of its Polymer Division for up to US$33.8 million. The…