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2018 Fourth Quarter and Full Year Results

The following is an extract from the “CNH Industrial 2018 fourth quarter and full year results” press release. The complete press release can be accessed by visiting the media section of the CNH Industrial corporate website: cnhindustrial.com/en-us/media/press_releases/ or consulting the accompanying PDF:

CNH Industrial reported strong Q4 and full year 2018 results.
Consolidated revenues of $29.7 billion, with net income of $1.1 billion or $0.78 per share.
Net industrial debt at $0.6 billion

Financial results presented under U.S. GAAP

  • Industrial Activities net sales in 2018 were up 8% compared to 2017 (up 7% on a constant currency basis), with solid growth in all segments
  • Adjusted EBIT of Industrial Activities increased almost 40% to $1,585 million, with a 5.7% margin (up 1.3 percentage points). Adjusted EBITDA of Industrial Activities was $2,671 million, with a 9.6% margin (up 1.1 percentage points)
  • Adjusted net income was $1,117 million (a $466 million increase compared to 2017), with adjusted diluted EPS of $0.80 (up 74% compared to 2017)
  • Net industrial debt at December 31, 2018 was $0.6 billion, a one third decrease compared to December 31, 2017
  • On December 3, Moody’s Investors Service upgraded the senior unsecured ratings of CNH Industrial N.V. and its subsidiaries CNH Industrial Capital LLC and CNH Industrial Finance Europe S.A. from “Ba1” to “Baa3” with a “stable” outlook
  • The Board of Directors is recommending a dividend of €0.18 per common share, or approximately €244 million (~$278 million), an increase of approximately 30%
  • For 2019, CNH Industrial expects net sales of Industrial Activities at approximately $28 billion, and adjusted diluted EPS between $0.84 and $0.88. Net industrial debt expected between $0.4 billion and $0.2 billion
  • As announced on January 14, 2019, the Company has started a strategic assessment of its businesses, including the determination of targets for each of them, which will culminate in the presentation of a new Strategic Business Plan in a Capital Markets Day to be scheduled in the course of 2019

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Man found dead withh eight stab wounds in Jln Kg Jawa, Shah Alam

A 34-year-old man was found dead with eight stab wounds in an open area near Batu 5, Jalan Kampung Jawa here at about 4.30pm today.

Shah Alam police chief ACP Baharudin Mat Taib said a passer-by alerted police about the case.

He said police believed the victim, Dharmaraj Rajarethinam, had come to the place on a motorcycle with a friend but something happened and was stabbed by the suspect who fled the scene on the machine.

Source: BERNAMA (News Agency)

BTS releases report on leadership in the business world

The ‘Trends in Executive Development’ report, sponsored by BTS Group AB and conducted by Executive Development Associates (EDA), shows the need to retarget executive development on leaders’ abilities to create a compelling vision based on their company’s business strategy and increase bench strength.

The global research report found that changes in the external environment mean that executive programmes need to tie to the business strategy; digital transformation and innovation combined is the top influential condition impacting executive development; and high-potential development is a priority as companies need to strengthen their successor bench strength.

It also discovered that key leadership capabilities that need to be addressed point to senior leaders pushing empowerment down into the organisation; conferences, leadership coaching, mentoring, experience-based learning and business simulations, and assessments followed by development feedback are the key ways to develop senior leaders; and that most companies plan on increasing spending on executive development programmes in 2019.

Technology continues to change the world around us. With the prevalence of digital disruption, organisations need to transform how they do business. This significantly impacts how executives lead, said Greg Marchi, Executive Development, BTS.

The trends in Executive Development research reflect the need to emphasise leading in an organisation’s specific context and strategy, which is changing at an increasing speed, he added.

Source: BERNAMA (News Agency)

Handbag stolen during subuh prayers, senior citizen loses RM2,000

An elderly woman lost RM2,000 when her handbag was stolen by a man while performing Subuh prayers at a mosque in Setapak, yesterday.

In the 6.20 am incident, the 65-year-old victim realised her handbag which she had placed before her was stolen after hearing the cries of her friend before trying to pursue the man.

Wangsa Maju district deputy police chief DSP Muhammad Najib Hamzah said the man wearing a hooded jacket had fled on a motorcycle.

Source: BERNAMA (News Agency)

Agong attends solat hajat, yasin recital at Istana Negara

The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah attended the recital of Yasin, solat hajat and tahlil prayers event at the Surau of Istana Negara here tonight.

Raja Permaisuri Agong Tunku Azizah Aminah Maimunah Iskandariah Almarhum Sultan Iskandar, as well as other members of the Pahang royal family, including Sultanah Hajah Kalsom, were also in attendance.

Among the congregation of about 250 people were students of Pondok Moden al-Abaqirah tahfiz school, Gombak.

This was the first time Sultan Abdullah attended such an event at the Istana Negara after ascending the federal throne on Jan 31.

The prayers were to seek blessings of Allah for Sultan Abdullah and Tunku Azizah to be blessed with long life and good health to reign for a five-year term, and also for the wellbeing of Malaysians as a whole.

After the event, the royal couple also joined the congregation for dinner.

Source: BERNAMA (News Agency)

MB Inc confirmes illegal land-exploration activities in Bukit Kledang

Perak Menteri Besar Incorporated (MB Inc) today confirmed the existence of illegal land- exploration activities near Bukit Kledang here for the purpose of oil palm plantations.

Its chief executive officer, Anuar Zainal Abidin, said his party’s survey of nearly 10 hectares of land as reported yesterday regarding illegal exploration activities also involved part of MB Inc’s proprietary land.

He said investigations found that the illegal settlers had planted young oil palm trees on the slopes of the hillside illegally.

Source: BERNAMA (News Agency)

MIMOS, RMN cooperate to boost ICT capability

Malaysia’s National Applied Research and Development Centre, MIMOS and the Royal Malaysian Navy (RMN) continued their cooperation through a Memorandum of Understanding (MoU) to enhance the information and communication technology (ICT) capability of the forces.

This collaboration will see the two sides continue to conduct a thorough study on the needs of RMN’s technological solutions.

In a statement today, Navy Chief Admiral Datuk Mohd Reza Mohd Sany said the partnership would enable the RMN to provide a platform for implementing research and development (R&D) for the latest proven technologies

This collaboration will enhance the use of ICT in the Navy to replace the existing system, he said.

He said the RMN hoped that the cooperation would continue in various aspects taking into account the operational needs of the forces such as the Combat Management System.

MIMOS Senior vice-president, Emelia Matrahah said apart from reducing dependence on more expensive foreign technology, the technology developed by MIMOS was able to ensure the safety and sovereignty of the Navy ICT system was always protected.

The previous collaboration was signed on Oct 12, 2015 and subsequently renewed on Oct 30, 2018.

Under the original MoU, several activities were carried out including the provision of technical advisory services for the development of RMN Integrated Monitoring Management System, technology training programmes for RMN personnel and members and the use of the TLDMnet surveillance system developed by MIMOS.

Source: BERNAMA (News Agency)