EPF outsources RM114 bil to external portfolio managers
KUALA LUMPUR (April 17): The Employees Provident Fund (EPF) said a total of RM114.56 billion had been outsourced to external portfolio managers as at Dec 31, 2017, an increase of 9.80% compared with RM104.37 billion in 2016.
This allocation, invested in both equity and fixed income instruments, represented about 14.50% of EPF’s total investment assets, it said in a press release today.
DETROIT: Ford Motor Co on Wednesday outlined a plan to cut costs and boost profit margins at a faster pace than previously announced, which includes dropping traditional sedan models in North America that have become increasingly unpopular with consumers.
The No. 2 U.S. automaker said it now ...
Facebook may still be mired in the Cambridge Analytica scandal, but if all you were looking at is its bottom line, you might never know anything was wrong. Today, Mark Zuckerberg’s company released its first-quarter earnings report, and it handily beat analysts’ estimates, posting revenues of $11.97 billion, and earnings per share of $1.69, well above predictions of $11.41 billion and $1.35, respectively.
“Despite facing important challenges, our community and business are off to a strong start in 2018,” Zuckerberg said in a statement. “We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together.”
Facebook’s stock closed the day exactly unchanged, at $159.69. In after-hours trading reflecting the strong earnings report, shares were up sharply, gaining 4.41% to $167.05 as of this writing.
The company also said it now has 1.45 billion daily users, up 3.6% from the previous quarter, and 2.2 billion monthly users, up 3.3% from three months ago.
SINGAPORE: Goldilocks Investment, a leading stakeholder of Noble Group, said on Wednesday (Apr 25) it had filed a lawsuit in Singapore against the embattled commodities trader, seeking to prevent a scheduled shareholder meeting on April 30.
Goldilocks, which holds an 8.1 per cent stake, also seeks ...