Briefs

Telekom Malaysia’s (TM) revenue topped the RM 12 billion (Bt94.3 billion) mark in 2016 for the first time, led by strong demand coupled with efforts at lowering operating costs.
Managing director and group chief executive officer Tan Sri Zamzamzairani Mohd Isa expects the growth momentum to continue this year, and has set growth targets of 3.5 per cent to 4 per cent for revenue for 2017.
However, for the fourth quarter of October-December 2016, TM suffered a foreign-exchange loss of RM 120.5 million versus a gain of RM 24.6 million a year ago due to the weaker ringgit against the US dollar. This was due to TM’s loan exposure.
In the same quarter, its net profit fell nearly 20 per cent to RM 154 million from RM 192 million previously, although it added 1.7 per cent in revenue to RM 3.2 billion from RM 3.1 billion.
For the full financial year to December 31, TM reported a 10 per cent rise in net profit to RM 776 million from RM 700 million previously, and added 2.9 per cent to revenue to RM 12 billion from RM 11.7 billion. Earnings before interest, tax, depreciation and amortisation was marginally higher at RM 3.7 billion from RM 3.6 billion.
Earnings per share for the full year was at 20.6 sen from 18.7 sen..
The group has declared a dividend of 12.2 sen per share, bringing the total dividend payout for the year to 21.5 sen or RM 808 million.
“Overall, we had a solid good year, although it was challenging,” Zamzamzairani said in announcing the company’s results. – The Star

Indonesia prepares for
green bond issuance
The Financial Services Authority (OJK) will launch a framework and regulation for green bond issuance in Indonesia this year.
“In 2017, the OJK has to have a regulatory product that regulates green bonds,” OJK capital market management director Luthfi Zain Fuadi said on Wednesday.
Green bonds are created to fund projects that have positive environmental and/or climate benefits.
The plan, therefore, signals significant progress in the establishment of financial markets that support sustainable development.
Luthfi said that last year the agency had studied how a green bond mechanism could be implemented in Indonesia. However, it still needed to examine the infrastructure readiness of the financial markets, the benefits of issuing green bonds and what types of projects could be categorised as green, he added.
The Indonesian Biodiversity Foundation (Kehati) has urged the OJK to be serious about its plan to develop the first green bond mechanism in Indonesia.
Kehati held a Forum Group Discussion with the OJK on Wednesday to discuss the development of the green bond mechanism.
“Kehati is very enthusiastic about participating in the initiation [of the green bond mechanism] because it implements development values that are environmentally friendly,” Kehati executive director M.S. Sembiring said. – The Jakarta Post

Widodo launches food
subsidies via card 
Indonesia begun distributing non-cash food subsidies in the form of cards in Cibubur, East Jakarta, yesterday.
President Joko “Jokowi” Widodo symbolically handed over cards to 1,879 housewives from Jakarta, Depok and Bogor, warning them not to use the cards to buy less urgent things. “Do not use the card to up your phone balance or give it to your husband to buy cigarettes. If we hear of that, we will revoke the card,” he said.
The so-called Prosperous Family Card (KKS) functions as a form of e-money. The cards are supplied by Bank Rakyat Indonesia, Bank Negara Indonesia , Bank Tabungan Negara and Bank Mandiri.
Selected households receive a 110,000 rupiah (Bt290 ) food subsidy per month through the card.
They can use the card to buy rice and sugar from agents or from the Social Affairs Ministry's appointed stores called e-warungs. More than 15,800 agents are ready to distribute the subsidy.
Meanwhile, the households that are included in the Social Affairs Ministry's Family Hope Programme will receive 1.89 million rupiah each year. This money can be withdrawn four times a year and the welfare program has also been integrated into the KKS.
This year, the government aims to distribute the cards to 1.29 million families in 44 cities. The total value of the subsidy will reach an estimated 1.7 trillion rupiah. For 2018, the government plans to expand to subsidy to 10 million families. |– The Jakarta Post