KUALA LUMPUR: TIME Dotcom Bhd recorded a 24.56% drop in net profit to RM69.79mil for the second quarter ended June 30, 2020, as compared to RM92.5mil in the previous corresponding quarter.

But pre-tax profit was 1.6% higher year-on-year to RM97.9mil against RM96.4mil previously.

The company cited higher revenue growth, lower depreciation charges and lower interest expense.

BNM’s international reserves up marginally to US$104.3b

Bank Negara Malaysia’s international reserves stood at US$104.3 billion (RM436 billion) as at Aug 14, 2020, up marginally from US$104.2 billion as at July 30, 2020.

“The reserves position is sufficient to finance 8.5 months of retained imports and is 1.1 times total short-term external debt,“ the central bank says in a media release.

Top Glove, Supermax erase losses in morning trades

Top Glove Corp Bhd and Supermax Corp Bhd’s share prices rose among Bursa Malaysia top gainers in morning trades on Friday.

Investors bargain hunting continued with their target on rubber glove manufacturers.

Companies like Top Glove are beneficiaries of strong global demand for gloves due to the Covid-19 pandemic.

At 10.43 am Friday Top Glove rose 44 sen or 1.62% to RM27.58 after falling to its lowest so far today at RM26.70.

Supermax climbed 32 sen or 1.53% to RM21.26 after falling to its lowest so far today at RM20.60.