Summary of business stories from March 8 to 13

TheStar Mon, Mar 15, 2021 07:59am - 3 years View Original


FGV Holdings Bhd has formally turned down an offer from Tan Sri Syed Mokhtar Albukhary to inject his plantation assets into the company for new shares.

Corporate News

Musk adds $25b in one day

  • Tesla Inc.'s 20% jump on Tuesday -- its biggest in more than a year – pushed Elon Musk -- the billionaire founder's fortune to $174 billion, closing the gap with Jeff Bezos, the world's richest person, according to the Bloomberg Billionaires Index.
  • The top 10 largest wealth gainers, all from the tech industry, added $54 billion combined.
  • The surge in Bezos's Amazon. com Inc. helped him gain $6 billion, taking his net worth to $180 billion, while Colin Huang of Chinese online shopping platform Pinduoduo Inc. added almost as much.
Top Glove posts highest quarterly net profit in corporate history at RM2.9bil
  • While hopeful for a post-pandemic economic recovery, Top Glove Corp Bhd is also confident global glove demand will remain robust and not revert to pre-pandemic levels.
  • In 2Q FY21, Top Glove recorded a net profit of RM2.87bil, the highest quarterly result in Malaysian corporate history and an increase of 24 times net earnings from the previous corresponding quarter.
  • The group reported its highest-ever quarterly sales revenue of RM5.37bil, which was 336% higher than in the previous comparative quarter, and 13% higher quarter-on-quarter.
Economy

Govt approves RM1.315bil under PENJANA SME financing scheme

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