NEWS IN BRIEF: NOV 29, 2019

MOHD ISWANDI KASAN ANUAR

DUOPHARMA BIOTECH BHD’s net profit rose to RM14.86 million in the third quarter ended Sept 30, 2019 from RM12.29 million in the same quarter a year ago.

Revenue increased to RM142.85 million from RM125.84 million previously, the company said in a stock exchange filing today.

For the nine-month period, it recorded a net profit of RM43.24 million as compared to RM33.27 million in the corresponding period last year.

Its revenue grew 14.52 per cent to RM438.71 million from RM383.09 million previously, mainly due to higher demand from private and public health sector.

The company is expected to achieve satisfactory results in the current financial year.

-- BERNAMA

 

PIAGGIO GROUP, an Italian motor vehicle manufacturer, has named Didi Resources Sdn Bhd as the official distributor of its premium scooter brands, Piaggio and Vespa, effective from Jan 1, 2020.

In a statement today, it said Didi Resources will manage both scooter brands and replace the previous distributor, Naza Premira Sdn Bhd.

Gianluca Fiume, chairman and general director of Piaggio Vietnam, said the appointment is part of its business strategy to group the Piaggio, Vespa, Aprilia and Moto Guzzi brands under the ‘Motoplex’ concept.

‘Motoplex’ is an innovative retail model for the two-wheeler industry, which enables importers and dealers to leverage the potential of Piaggio’s brands and products in the same outlet.

Plans for the construction of the ‘Motoplex’ are underway with the launch scheduled to be held early next year.

-- BERNAMA

 

SOCASH, the digital cash circulation platform that connects banks, customers and retailers for cash withdrawal and other services, has sealed a deal with Jutamas Sentosa to establish ATM-free cash withdrawal services at retail businesses operated by Malaysian cooperatives.

Jutamas Sentosa is a partner of MyAngkasa Holdings Sdn Bhd, a company wholly-owned by the Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa).

“The parties will collaborate to onboard cooperatives, retailers and other permissible businesses from Angkasa’s network of over 10,000 cooperatives and retailers,” soCash said in a statement today.

Both parties will leverage Angkasa’s existing relationships with a view towards reaching service partners and six million individuals who are cooperative members.

-- BERNAMA