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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

FACEBOOK INC

(FB)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 01/21 05:24:36 pm
272.31 USD   +1.81%
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Tech giants ask Malaysia PM to reinstate foreign ship cable waiver

11/24/2020 | 05:24am EST
FILE PHOTO: Facebook logos

KUALA LUMPUR (Reuters) - Microsoft, Google and Facebook have asked Malaysia's Prime Minister to reinstate an exemption allowing non-Malaysian ships to carry out repairs to submarine cables in the country's waters, online news service Malaysiakini reported.

Malaysia's Transport Ministry this month overturned a so-called cabotage exemption granted in 2019 by the previous government that allowed the use of non-Malaysian vessels.

Without this waiver, foreign vessels must apply for domestic shipping licensing exemption (DSLE), leading to longer repair times, the companies said in a letter to the Malaysian premier, which was cited by Malaysiakini in a report on Monday.

"It does not project regulatory stability or a policy environment that is conducive to foreign investment," the tech giants were quoted as saying by Malaysiakini.

Reuters was unable to confirm the letter or details of the Malaysiakini report. Spokesmen for the Prime Ministers' office and the Transport Ministry both declined to comment.

Facebook and Alphabet's Google declined to comment on the letter. Malaysia Internet Exchange, which the group agreed would communicate on its behalf, did not respond to requests for comment.

Transport Minister Wee Ka Siong told parliament on Tuesday the decision to lift the cabotage exemption takes into consideration the outflow of foreign money via freight payments.

"The Transport Ministry's responsibility is to protect the interests of Malaysians and foster the domestic shipping industry, this was not a unilateral decision," Wee said.

Foreign vessels can apply for a domestic shipping license to carry out services that cannot be met by domestic ships by using an electronic system, the minister added.

(Reporting by Mei Mei Chu; Editing by Alexander Smith)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.22% 1884.15 Delayed Quote.7.50%
FACEBOOK INC 2.02% 272.87 Delayed Quote.-0.11%
MICROSOFT CORPORATION 0.28% 224.97 Delayed Quote.0.86%
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Financials (USD)
Sales 2020 83 647 M - -
Net income 2020 27 034 M - -
Net cash 2020 60 453 M - -
P/E ratio 2020 29,1x
Yield 2020 -
Capitalization 777 B 777 B -
EV / Sales 2020 8,57x
EV / Sales 2021 6,72x
Nbr of Employees 56 653
Free-Float 83,8%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 320,60 $
Last Close Price 272,87 $
Spread / Highest target 37,4%
Spread / Average Target 17,5%
Spread / Lowest Target -28,5%
EPS Revisions
Managers and Directors
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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