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Reality check for Merdeka Battery

Revenues from nickel sales surged 192% to US$1.33 billion last year, but Merdeka Battery Materials (MBMA) posted gross profit of US$77.5 million only, an increase of 74.5% from 2022. The nickel producer suffered more in the fourth quarter due to falling prices in international market on oversupply from Indonesia and softened demand.

Business

Reality check for Merdeka Battery

Revenues from nickel sales surged 192% to US$1.33 billion last year, but Merdeka Battery Materials (MBMA) posted gross profit of US$77.5 million only, an increase of 74.5% from 2022. The nickel producer suffered more in the fourth quarter due to falling prices in international market on oversupply from Indonesia and softened demand.

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Asian Markets Mixed on Wednesday

Asian equity markets were mixed on Wednesday, taking cues from a weak lead on Wall Street overnight as investors took some profits and reassessed market valuations following a historic rally to record levels. Investors also...

Palm Oil Extends Losses Ahead of Holiday

Malaysian palm oil futures traded below MYR 4,150 per tonne, slipping for the second session due to a decline in rival edible oils and a further drop in crude oil prices. The contracts are heading for the biggest one-day fall in...

Eurozone Economic Sentiment Improves in March

The economic sentiment indicator in the Euro Area increased to a three-month high of 96.3 in March 2024, marking an uptick from February’s revised figure of 95.5 and aligning with market expectations. Notably, the gauge...

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Profiles

Erna Djuhadi passes away

Erna Hartany Djuhadi (Tan Bie Swan) has just passed away at the age of 87. Erna, wife of the late Subijanto Djuhadi, the second generation of cigarette producer, PT Nojorono Tobacco International, leaves one of the richest families in the country. 

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