Port, engineering and property giant MMC shrugged off the trade war and economic headwinds to report massive increases in revenues and profits. Analysts issued a “buy” rating.
In a now familiar story, another logistics company – in this case Tiong Nam – reports weaker quarterly results owing to a global trade headwinds. Analysts warn on liquidity pressures.
Fortune has taken a decidedly downward trajectory for Indonesia-focused dry bulk ocean carrier Seroja, which saw a dramatic decrease in profitability in the third quarter of 2019. But that won’t worry the company – it has just agreed to sell its entire business for $32 million.
COSCO Shipping International (Singapore), a logistics-focused arm of COSCO, reports a big hit to its third quarter profit after tax. But the company nonetheless has big regional expansion plans.
Nations in South East Asia are experiencing plunging trade and stumbling economies, analysts say, and they add it is due to a weakening Chinese economy and trade war tensions.
Taiwan-based box-shipping line, Yang Ming, has set up shop in Jakarta, Indonesia, with joint venture partners. The new subsidiary will be known as “PT Yang Ming Shipping Indonesia”.
