Real estate data on its portal showed a rebound of 22.5% in July after falling for two consecutive months, and prices have continued to climb as buyers rush in. Thus, he projects that any property market recovery moving forward will be slow and steady. But all three property experts say FDI is an essential factor if the property market is to recover. “The property market should recover once confidence returns to the market. Historically, when FDI comes in, it creates a feel-good factor and we see a boost in the property market,” says Toh.

KUALA LUMPUR: Matrix Concepts Holdings Bhd, which posted a net profit of RM31.69mil in the first quarter ended June 30, has declared a first interim single tier dividend of two sen per share. Its revenue in the first quarter rose marginally to RM163.43mil against RM162.02mil in the same period last year. Its unbilled sales rose to RM1.04bil as at June 30 against RM1.02bil as at the financial year ended March 31, 2021, providing earnings visibility over 12 to 15 months. Encouraged by the healthy demand of its properties, Matrix Concepts intends to launch RM1.6bil worth of properties for FY2022, up from RM1bil in FY2021. “Against this backdrop, we are confident of maintaining robust property sales as well as earnings performance for FY2022,” he added.

BANGKOK: Thailand is less vulnerable to any spike in global bond yields stemming from policy normalisation by the U.S. Federal Reserve due to its low reliance on external sources for debt financing and its high foreign reserves, the Bank of Thailand chief said. Bond yields in Thailand would be less exposed to "another taper tantrum” than those in some other emerging economies, Governor Sethaput Suthiwartnarueput told a virtual conference Wednesday organized by the Stock Exchange of Thailand. A low level of external debt and high foreign reserves mean "we are very resilient to a balance-of-payment type shock,” he said. So the transmission from the global spike to the local spike is not likely to be as sharp as in other countries,” Sethaput said. The shortfall was seen at $9 billion so far this year but a healthy fiscal position, including high foreign reserves, is seen providing a buffer, he said.

BENGALURU: Global corporate profits in the third quarter are likely to fall for the first time in 18 months after record earnings in April-June, Reuters calculations showed, as the spreading COVID-19 Delta variant squeezes supply chains and raises labour costs. But profits are estimated to fall 8% on average to $678.2 billion in the July-September quarter. Profits at U.S. firms are estimated to decline 7.2% in the third quarter, data showed, after rising 12.4% in the second quarter. A strong dollar could hurt U.S. exporters and a further fall in interest rates could squeeze profits at banks, said James Solloway, chief market strategist at wealth manager SEI. Average net margins at global firms are expected to drop to 10.66% in the third quarter from 11.43% in the second quarter.

Sime Darby declared a second interim dividend of eight sen per share and special dividend of one sen per share for 4Q21. Sime Darby group CEO Datuk Jeffri Salim Davidson said: “We are very pleased with these results. Sime Darby said the group continues to execute its growth plan, which contributed RM2.7bil to FY2021 revenue. Sime Darby also continued to divest its non-core assets, which have generated approximately RM700mil in proceeds to date. Sime Darby also divested its interest in Eastern & Oriental Bhd and finalised a staggered exit for its three Jining River ports.

American Petroleum Institute data showed crude inventories fell 1.6 million barrels for the week ended Aug. 20, while gasoline stockpiles fell 1 million barrels, according to sources, who spoke on condition of anonymity. Analysts were expecting crude stockpiles to fall by 2.7 million barrel and gasoline stocks to drop by 1.6 million barrels, according to a Reuters poll. Last week's losses were driven by fears that the spread of the highly contagious Delta variant of the coronavirus in Asia would slow the region's economic recovery. "Oil has benefited from easing delta variant concerns with the world's two largest economies, the U.S. and China, but that is not necessarily the case in Sydney and Japan," said Moya. ANZ commodity analysts pointed to a pick-up in traffic in Beijing and Shanghai as evidence of the Delta variant being "stamped out".

Bank Negara Malaysia has slashed its forecast for economic growth in 2021 in half, from 6% to 7.5% in May to 3% to 4% now. Based on the most recent analysis from Bank Negara, we think its recovery scenario is optimistic and the best among the three that we consider. This is the most likely, with a 60% probability, compared with 20% for the recovery scenario from Bank Negara. Finally, we differ with Bank Negara in our view of the effect of the vaccination programme. Given our forecast scenarios, the immediate priority must be to lift the lockdown — this is a prerequisite for economic survival, not just economic recovery.

Serge Onik, a dancer and choreographer known most for his appearance on season 11 of the popular dance competition show So You Think You Can Dance died at the age of 33, his agency confirmed on Tuesday (Aug 24). While on So You Think You Can Dance, Onik quickly became a favourite among fans until his elimination came in week four of competition. For Onik, his elimination from the show did not spell the end of his on-screen career. He would go on to appear on the other popular dance show, Dancing With The Stars, and took on acting roles in dramas such as Marvel’s Agent Carter, Bones, and Jane The Virgin. More recently, Onik had made an albeit brief appearance in the film In the Heights.

KUALA LUMPUR: The FBM KLCI maintained its early lead amid the growing recovery theme on the market and rising commodities prices.At 12.30pm, the key index was up 7.08 points to 1,560.45, with certain bank stocks continuing their advance ahead of their earnings resultss later this week. "We believe overall sentiment on the local bourse should continue to be supported by the broad-based recovery tune amid the rising commodities prices following the smooth vaccination progress as well as investors appearing to be optimistic over the ongoing reporting season," said Malacca Securities Research.The research house said next resistance is at 1,565 following the breach of 1,540, while support is located at 1,520.On the blue-chip FBMKLCI, leading gainers were Press Metal rising 11 sen to RM5.11 and Tenga Nasiona climbing 17 sen to RM10.14.Financial counters on the rise included Maybank up two sen to RM8.34 and CIMB adding two sen to RM4.85. Public Bank was down three sne to RM4.08 while Hong Leong Bank slid 12 sen to RM18.88. Sime Darby Plantation fell three sen to RM4.13 on profit-taking while Kuala Lumpur Kepong was up 26 sne to RM20.76.Among consumer counters, Nestle rose 90 sen to RM134.80 and Dutch Lady gained 28 sen to RM32.38.Top actives were Kanger unchanged at six sen, MMAG down 0.5 sen to 11 sen and Sapura Energy flat at 12 sen.Asian shares were slightly lower on profit-takjing following the recent rally as rising commodities prices kept the investor interest in equities.Japan's Nikkei was down 0.1% and South Korea's Kospi slid 0.3%.China's main index was up 0.3% while Hong Kong's Hang Seng fell 0.4%. Australia's ASX200 rose 0.2%.

PETALING JAYA: A Malaysian scientist has been awarded the Francis Crick Medal and Lecture 2022 for her contributions to the understanding of the causes of cancer. Dr Serena Nik-Zainal, who is based in the United Kingdom, will receive a bronze medal and £2,000 (RM11,500) at the associated prize lecture in 2022. Thrilled & hugely grateful for this immense honourFrancis Crick Medal & Lecture ! 1/ https://t.co/rRVqqZRDbG — Serena Nik-Zainal (@SerenaNikZainal) August 24, 2021“Thank you to all that have taught, supported, pushed and mentored me. The Francis Crick Medal and Lecture is awarded annually in any field in the biological sciences.

SHAH ALAM: Sultan Sharafuddin Idris Shah wants those involved in corrupt practices, including politicians and civil servants, to be charged and punished severely if found guilty by the court. “I am giving another reminder that I do not want to hear any more reports on the involvement of civil servants and political leaders in bribery. “I have also received reports about the MACC’s investigations into several political leaders for graft and abuse of power,” he said. Sultan Sharafuddin said that following the Covid-19 pandemic, the people were suffering and facing a lot of hardship. Sultan Sharafuddin also expressed his disappointment that some political leaders, VIPs and celebrities misused their positions to break the rules during the MCO.

“Everything was destroyed. “All our clothes are drenched in mud and my children’s school books are soaked and damaged,” said Muhd Rizan, who was still cleaning up the house yesterday. There was just no other choice,” related Muhd Rizan. A total of nine people ended up sheltering in Muhd Rizan’s house attic as he took in four children living next door. Their plight was conveyed to Ismail Sabri when he visited several of the affected areas in Merbok and Yan.

LONDON (Reuters) - An individual on Britain's "no-fly" list has been flown from Afghanistan to the United Kingdom on a British military plane as part of evacuation efforts from Kabul airport, Sky News reported on Monday. The unidentified individual was flown into Birmingham in central England, Sky said. The "no-fly" list was brought in to prevent those considered to be suspected militants or to pose a security threat from travelling to Britain. It was not clear what had happened to the individual, Sky said, but cited government sources as saying that the fact the person had been identified showed the watchlist was working. (Reporting by Michael Holden; Editing by Alison Williams)

PETALING JAYA: Datuk Seri Azalina Othman Said (pic) has resigned as Dewan Rakyat Deputy Speaker. The Pengerang MP cited several reasons for her resignation including conflict of roles and responsibilities between being an Umno supreme council member and MP in a ruling coalition. She added that lack of consultation and joint decision-making impacted her performance as deputy speaker. "As per standing order, a Deputy Speaker cannot make his or her own ruling in the Dewan. "I will support any reforms the government and the Opposition may want to move in their collective wisdom," she said.

BERLIN (Reuters) - Germany is looking into ways to evacuate people from Afghanistan beyond the window of opportunity to fly them out of Kabul airport, a Foreign Ministry spokesman said on Monday. "As long as the situation on the ground allows, we want to keep the air bridges active and evacuate people from Kabul airport," the spokesman told a regular government news conference in Berlin. "However, we are already thinking beyond this period and are already trying to find solutions for the time after(wards)," he said, adding that Germany was talking with the Taliban about enabling as many people as possible to leave Afghanistan. (Reporting by Sabine Siebold and Paul Carrel)