The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
George Kent (Malaysia) Bhd (KL) has announced the appointment of Datuk Thomas Leong Yew Hong as its director of strategy and investments, effective August 1. Leong’s role will focus on steering the group into new areas beyond its traditional industries, such as renewable energy and data centre solutions.
Key Takeaways:
Strategic Appointment: Datuk Thomas Leong Yew Hong will work closely with Executive Chairman Tan Sri Datuk Tan Kay Hock on long-term strategies, business development, and investments, including mergers and acquisitions.
New Ventures: Leong’s focus will include exploring opportunities in renewable energy, high technology, artificial intelligence, and data centre solutions, positioning George Kent to diversify into "businesses of the future."
Complementary Businesses: In addition to new ventures, Leong will also explore opportunities in complementary sectors such as water infrastructure and rail transportation, which the group has not yet fully explored.
Industry Experience: George Kent has a strong brand and over 80 years of experience in water infrastructure, metering, and rail transportation. Leong’s appointment is expected to leverage this track record to drive new growth areas.
Rail Transportation Achievements: The company has been a major player in Malaysia’s urban rail expansions, contributing to projects like the Ampang LRT line extension, MRT2, and LRT3.
Market Performance: As of Tuesday, George Kent’s shares last traded at 46.5 sen, with a market capitalisation of approximately RM261 million.
Leong’s appointment marks a strategic move for George Kent as it aims to diversify and explore new, high-potential industries, leveraging its established expertise and strong market presence.
Comments
Post a Comment