Hello from the hung parliament. And THREE things you need to know – this week. (weekly ended 22/11/2022)

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Sharing some Investing and Economic insights:

THREE things you need to know this week;

  1. Hello from the hung parliament. Bursa Malaysia fell sharply yesterday – down 21 points at its day low. But at market close, it had retraced most of its losses to end just 1 point lower at 1,448 as bargain-hunters have bought shares on what was seen as temporary weakness in the market.
  2. Grab narrowed losses during the July-September period and broke even in its deliveries segment for the first time since 2012. Last January, Grab acquired a majority stake in Malaysian mass-premium supermarket chain Jaya Grocer to accelerate its expansion into grocery delivery. Listed on the New York Stock Exchange in Dec-21, shares of Grab have fallen about 70% since.
  3. It’s 3Q corporate earnings reporting season (for 3rd quarter ended 30 Sep 2022);
    • Pos Malaysia has posted a narrower third quarter net loss of RM33.63 million, compared to RM43.9 million a year earlier.
    • MISC’s net profit for the third quarter more than doubled to RM820.6 million from RM401 million a year earlier.
    • SP Setia’s net profit surged more than six times to RM70.18 million in the third quarter from RM11.01 million in the same quarter last year.
    • Gas Malaysia recorded a third quarter net profit of RM95.66 million, up 53.4% from RM62.36 million a year earlier.

Raiz is about helping you save & invest more – being able to save 5% of your salary is better than earning 5% return. Having a disciplined savings habit can help improve your financial position quicker (than spending time choosing the best fund manager).

 

Do you know?

Qatar has spent USD300 billion preparing for 2022 FIFA World Cup which makes it the most expensive World Cup in history.

The 2014 World Cup in Brazil costs a reported USD15 billion, while USD11.6 billion was spent on the 2018 World Cup in Russia.

 


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