Unl business administration 4 year plan

KUALA LUMPUR: Shares in Bintai Kinden Corp Bhd rose in active trade in early trade Tuesday on news of its healthcare business expansion. The counter rose 4.35%, or two sen to 48 sen, its highest in a month with 42.3 million shares done. Bintai Kinden will acquire Johnson Medical International Sdn Bhd (JMI) for RM50mil to expand its healthcare business segment. The company said it plans to settle the purchase by paying RM26mil cash and and the issuance of 58.6 million new Bintai Kinden shares at 41 sen each to the seller - Yeo Eng Lam. Bintai Kinden has signed a memorandum of understanding (MoU) with Yeo to acquire a 100% equity interest in JMI. Under the MoU, Yeo will provide Bintai Kinden with a profit guarantee of RM3.50mil and RM5.60mil for the financial year (FY) ending 31 December 2021 and FY22 respectively. Barring any unforeseen circumstances, the corporate exercise is expected to contribute positively to future earnings and improve the financial position of ... » Learn More about Bintai Kinden rises 4.3% on healthcare business expansion plan

ROYAL Philips, a global leader in health technology, reinforced its commitments as a purpose-driven company with the announcement of an enhanced and fully integrated approach to doing business responsibly and sustainably. Currently completing its “Healthy people, sustainable planet” 2016 to 2020 program, Philips is set to achieve all of the program’s targets by the end of the year, including generating 70 percent of its sales from green products and services with 15 percent from circular economy solutions becoming CO2-neutral in its operations, recycling 90 percent of its operational waste and sending zero waste to landfills. Building on this track record, Philips’ framework comprises a set of key commitments across all the environmental, social and corporate governance (ESG) dimensions that guide execution of the company’s strategy. It includes targets and plans of action. Respecting the planet’s environmental limits, Philips is committed to science-based targets, reducing its ... » Learn More about Philips reinforces doing business responsibly and sustainably

SINGAPORE (The Straits Times/ANN): Singapore-headquartered super app Grab's plans to go public in the United States, in what is the largest blank cheque company deal ever, is testament to the growth prospects of South-east Asia and Singapore's start-up ecosystem, analysts and industry players said. Grab, which started out as MyTeksi to address the safety concerns of taxi commuters in Kuala Lumpur, announced on Tuesday (April 13) its agreement with Altimeter Growth, a special purpose acquisition company (Spac) backed by Altimeter Capital, which will see the combined entity valued at around US$39.6 billion (S$53.2 billion). Rajive Keshup, investment director at Cathay Innovation, said the deal spotlights the South-east Asia ecosystem - a market not driven primarily by capital or stimulus bubbles, but by economic fundamentals, such as the growth of the middle class, consumption and discretionary spending. Chua Kee Lock, chief executive of Vertex Holdings and managing partner of ... » Learn More about Grab’s US listing plan casts spotlight on South-east Asian ecosystem

As work on big-ticket infrastructure being financed by the tycoons’ deep pockets continued despite prolonged quarantine, public-private partnership (PPP) projects would take the lead in lifting the economy from its pandemic-induced recession this year and next year, Department of Finance (DOF) estimates showed. The government also ramped up expenditures on infrastructure, which rose by 14.4 percent year-on-year to P107.4 billion as of end-February. The latest Department of Budget and Management (DBM) data showed disbursements on infrastructure and other capital outlays increased from P93.9 billion in the first two months of last year mostly due to “payments for completed infrastructure projects of the Department of Public Works and Highways (DPWH), which were started late last year, and the mobilization costs for their current year’s projects (such as road widening, rehabilitation and improvement and flood control).” “The construction of farm-to-market roads of the Department of ... » Learn More about DOF: PPP projects to lead infra spending in next 2 years

BEFORE the pandemic unexpectedly hit, holidays meant a time when people went on staycations and resorts were filled with families looking to have a good time, sipping drinks by the pool or wading at the shore of a beachfront. Both foreign and domestic hospitality industries were booming since virtually everyone had easy access to accommodation discounts and promos. High spirits dwindled as the Philippine hospitality industry took a severe blow when the Covid-19 pandemic took off. Travel restrictions prevented people from booking hotels and resorts, leaving these establishments struggling for room occupancy and consequentially, stable revenue. According to Colliers, in the first half of 2020, hotel occupancy in Metro Manila fell from 71 percent to 25 percent due to a sharp decline in foreign arrivals. Moreover, a significant number of hotels closed their doors and laid off hospitality professionals and personnel. While the impact of the pandemic to the hospitality industry is ... » Learn More about Welcoming recovery: Strategies for the hospitality industry

After consulting with labor and employer groups, the Home Development Mutual Fund (Pag-IBIG Fund) has decided to postpone increasing its members’ monthly contributions in January out of consideration of the plight of both workers and business owners during the coronavirus disease 2019 (Covid-19) pandemic. In a statement on Friday, Human Settlements Secretary Eduardo del Rosario announced the approval of the recommendation of the Pag-IBIG Fund management to move the implementation of the hike in the members’ monthly contributions from P100 to P150 to January 2022. The deferment also applies to the share of their employers. “After consulting with our stakeholders, we will no longer push through with the increase [in] members’ monthly contributions next year,” said del Rosario, also chairman of the 11-member Pag-IBIG Board of Trustees. “We know that many of our members and employers faced financial challenges in the last few months because of the effects brought about by the ... » Learn More about Pag-IBIG defers contribution rate hike

THE HAGUE: Dutch firm Philips said on Monday its third quarter net profit rose sharply as its health arm got a boost from demand driven by the coronavirus disease 2019 (Covid-19) pandemic. Net profit for the three months to September jumped more than 63 percent from a year earlier to 340 million euros ($400 million) while sales were up 10 percent at five billion euros, said the company which has diversified out of its traditional electrical appliances business into health. “I am pleased that, under challenging circumstances, we have been able to execute our plans and return to growth and improved profitability,” Chief Executive Officer Frans van Houten said in a statement. Van Houten highlighted the progress made by the medical division. “It is clear that the Covid-19 pandemic is far from over, and our teams remain fully focused on delivering against our triple duty of care — meeting critical customer needs, safeguarding the health and safety of our employees, and ensuring ... » Learn More about Philips Q3 earnings boosted by virus

SEATTLE: Food delivery service DoorDash aimed to raise upwards of $2 billion in a stock market debut valuing the startup at more than $25 billion, according to a regulatory filing on Monday (Tuesday in Manila). Delivery of meals and groceries has boomed during the pandemic, with restaurants offering no or limited dine-in options and people fearful of exposure to Covid-19. The startup was valued at $16 billion during a private funding round in June. San Francisco-based DoorDash, which competes with GrubHub and Uber Eats, operates a leading online platform connecting people ordering food with those willing to deliver it. DoorDash plans to sell 33 million shares priced somewhere between $75 and $85 dollars, making the potential maximum tally of the offering slightly more than $2.8 billion. DoorDash is on track to take in some $2 billion in revenue this year on growing demand during the pandemic, the food delivery startup said in a prior filing. The startup reported losses ... » Learn More about DoorDash aims to raise $2B in IPO

Telecom veterans have warned that the selection of new members of the National Broadcasting and Telecommunications Commission (NBTC) board will not be easy and is unlikely to be accomplished in a single attempt due to the conditions contained in the amended NBTC Act. Concerns have also been raised about the long delay in the establishment of the board, which could prolong the decision-making vacuum at the key agency that regulates the country's telecom and broadcasting industries. The six existing commissioners at the agency had their working term extended by the previous military regime -- they were originally due to leave the position in October 2017. This granted them permission to stay in their positions until the new commissioners come into office. NBTC chairman Gen Sukit Khamasundara turned 70 last year and vice-chairman Prasert Silphiphat will be 70 next month. "It is hard to predict how long the existing NBTC board members will stay in their positions, even though they ... » Learn More about Pundits predict further procrastination at NBTC

People wade at an empty beach in Phuket last month. (Reuters photo) Hoteliers are projecting a lukewarm tourism outlook while preparing their businesses amid uncertainties, despite the government's reopening plan for international arrivals. Charintip Tiyaphorn, the financial controller at Pimalai Resort and Spa, said Phuket's tourism sandbox in July will let operators plan ahead in terms of business, yet tourism demand in the early stages will not be sufficient to benefit areas nearby if international flights to Phuket are not able to fully resume. The hotel is working with agents who already have customers to arrange chartered flights. Pimalai is targeting niche markets such as weddings, which normally reserve bookings 12 months before the event and pay a deposit in advance. The hotel used to welcome around 20-30 wedding couples, generating 1-2 million baht per group, she said. At present, there are 3-4 couples from Europe waiting for the country to reopen. Ms Charintip ... » Learn More about Hoteliers see tepid tourism prospects