Crest Builder proposes share placement, bonus issue of new warrants
Crest Builder Holdings Bhd has proposed a corporate exercise involving a share placement of up 10% of its paid-up share capital and a bonus issue of new warrants……
Notion Vtec turns around with RM15.5m net profit in Q2
Notion Vtec Bhd returned to the black in the second quarter ended March 31, 2012 as earnings rose 43.5% to RM15.53mil from RM10.82mil a year ago……
IGB Corp Q1 earnings up 47.9% to RM57.43m
IGB Corporation Bhd’s earnings rose 47.9% to RM57.43mil in the first quarter ended March 31 from RM38.82mil, underpinned by the property development and construction divisions……
KLCI snaps losing streak but SapuraKencana disappoints
Blue chips snapped their losing streak on Thursday, but managed to recoup only one-third of their losses from the previous day, as investors worried about the deepening turmoil in Greece and fears of contagion spreading……
Asia Aviation to raise $143 mln from Thai IPO
BANGKOK (Reuters): Asia Aviation Pcl, owner of the Thai affiliate of Malaysian-based budget carrier AirAsia Bhd , has set an IPO price of 3.7 baht ($0.12) a share to raise 4.5 billion baht ($143 million) in the Thai market this month, sources close t…..
JCY International’s Q2 earnings surge 1,209% to RM163m
Hard-disk drive manufacturer JCY International Bhd’s earnings surged 1,209% to RM163.09mil in the second quarter from RM12.46mil a year ago, boosted by higher average selling prices……
AsiaEP falls after triggering GN3 listing rules
Shares of AsiaEP Resources fell sharply on Thursday after it was classified as a Guidance Note 3 company……
EPF confirms taking stake in SPV for KFCH, QSR buyout
The Employees Provident Fund (EPF) has teamed up with Johor Corporation to become shareholders of Massive Equity Sdn Bhd (MESB) in the QSR Brands Bhd (QSR) and KFC Holdings (M) Bhd (KFCH)……
Private pension funds to boost Malaysian capital markets, says OBG
Malaysia’s capital markets are in line for a boost as the introduction of private pension funds is expected to create a significant funding inflow that will be directed towards various investment vehicles, says the Oxford Business Group (OBG)……
Federal Court grants leave to Ho Hup to appeal
The Federal Court granted Ho Hup Construction Co. Bhd leave on Thursday to appeal against a decision of the Court of Appeal……
Greek fears linger as Europe shares slip at open
LONDON (Reuters): European shares edged lower at the start of trading on Thursday, having closed down during the last three sessions, as fears over Greece and Spain continue to weigh on sentiment, traders said……
Asian markets higher, Tenaga powers KLCI
Asian markets were mostly higher at midday, Thursday, although overall investor sentiment still remained cautious as concerns over the persisting European debt crisis had not abated……
AMMB FY net profit up 12.5% to RM1.51b
AMMB Holdings Bhd recorded net profit of RM1.51bil in the financial year ended March 31, 2012 compared with RM1.34bil in FY11……
Scomi Group sells Nigerian operations for RM123.9m
Scomi Group Bhd is selling its entire 100% stake in Scomi Nigeria Pte Ltd and a 2% stake in Oiltools Africa Ltd for US$39.77mil or RM123.90mil cash consideration. …..
Hap Seng Consolidated sees 50m shares crossed
Hap Seng Consolidated Bhd’s 50 million shares were transacted in an off-market deal on Thursday at RM1.73 each……
AmBank to issue up to 100m Carlsberg call warrants
AmBank (M) Bhd has proposed to issue up to 100 million European style cash settled call warrants of Carlsberg Brewery Malaysia Bhd……
Khazanah to list US$1.5b healthcare IPO end-July
KUALA LUMPUR (Reuters): The planned US$1.5 billion listing of Malaysia’s Integrated Healthcare Holdings (IHH) is expected to debut on the Malaysian and Singapore bourses by the end of July, two sources with direct knowledge of the matter told Reuter…..
ECB move on Greek banks hits euro confidence
FRANKFURT/ATHENS (Reuters): The European Central Bank has stopped offering liquidity to some Greek banks it does not consider solvent, and international concern about the euro zone rose as Athens called new elections that look set to be won by parti…..
Tradewinds Plantations falls to lowest since April 3
Tradewinds Plantations Bhd’s share price fell to RM4.86, its lowest since April 3 after it reported a 91% decline in net profit to RM4.34mil……
Asian markets up, KLCI holds on to early gains
Asian markets were mostly higher in late morning on Thursday after the sell-off the previous day as as investors continued to remain cautious as concerns over Europe remained……
CIMB Research upgrades MISC from Underperform to Neutral
CIMB Equities Research said that despite MISC Bhd’s first quarter core core net loss shocker, it thinks that earnings have bottomed……
KLCI stages mild technical rebound
Blue chips staged a technical rebound in early trade on Thursday after several days of heavy losses but the gains were limited as investors remain cautious about the eurozone debt crisis……
SapuraKencana opens at RM2.30
SapuraKencana Petroleum Bhd(SapuraKencana) made its debut on the Main Market of Bursa Malaysia on Thursday at RM2.30, which was six sen above its reference price of RM2.24……
Apple readies iPhone with bigger screen
TOKYO: Apple Inc plans to use a larger screen on the next-generation iPhone and has begun to place orders for the new displays from suppliers in South Korea and Japan, people familiar with the situation said on Wednesday……
GLOBAL MARKETS-Euro, US stocks fall on ECB, Fed minutes
NEW YORK: U.S. stocks and the euro slid on Wednesday on news that some Greek banks face emergency funding needs, while minutes from the Federal Reserve’s April meeting showed U.S. economic prospects remain sobering……
HDBSVR sees KLCI extending decline
Hwang DBS Vickers Research believes that the FBM KLCI will continue to extend its losing streak to five consecutive days on Thursday, with cumulative losses for the previous four days now standing at 52.0 points or 3.3%……
GLOBAL MARKETS-Shares steady after sell-off, Greece fears weigh
TOKYO (Reuters): Asian shares steadied on Thursday from the previous day’s sell-off, but investors found no reason to bet on risk amid deepening turmoil in Greece and fears of contagion to other stressed euro zone economies……
EPF to take big stake in SPV in the KFC and QSR buyout
PETALING JAYA: The Employees Provident Fund (EPF) will take a significant stake in the special-purpose vehicle (SPV) that is proposing to buy out QSR Brands Bhd and KFC Holdings (M) Bhd (KFCH), sources said……
AmResearch initiates coverage of SapuraKencana, FV RM2.68
AmResearch has initiated coverage on SapuraKencana Petroleum (SapuraKencana) with a fair value of RM2.68 a share, pegged to a FY13F PE of 22 times, excluding one-off merger costs of RM131mil……
Quota removal may see higher fees in international schools
WHEN I was in school in the 1970s and 80s, international schools were the choice schools for expatriates, diplomats and students who have studied abroad……
Chamber hails US firms move to invest RM1bil in Sabah
KOTA KINABALU: Sabah Bumiputera Chamber of Commerce has hailed the decision by Dole Food Co, a US-based and worlds largest producer and marketer of fresh fruits and vegetables, to invest over RM1bil in the state……
Malaysia wants to woo more investments from US
NEW YORK: Malaysia will promote more cooperation with American companies in efforts to woo more investments from the United States, Malaysian Ambassador to the United States Datuk Othman Hashim said……
AirAsia X to expand further in China
BEIJING: AirAsia X, which will launch its inaugural direct flight to Beijing next month, aims to expand its network further into China……
Firms secure RM23m sales in Oman via promotion
KUALA LUMPUR: Malaysian companies recorded potential sales of RM22.9mil during the recent 1Malaysia Promotion in Muscat, Oman……
Asian markets hard hit
PETALING JAYA: Regional equities suffered massive sell-offs dragging their main indexes to multi-month lows as political problems continued to mount in debt-laden Greece, affecting investor sentiment……
RM12bil bids target
KUALA LUMPUR: SapuraKencana Petroleum Bhd, a merged entity of two oil and gas (O&G) companies, expects to boost its bidding order book to RM12bil by year-end from RM7bil currently……
WCTs RM1bil target
KLANG: WCT Bhd is optimistic about getting RM1bil worth of new contracts in the nine months ending Dec 31, 2012……
HSL wins RM73mil in jobs
KUALA LUMPUR: Hock Seng Lee Bhd (HSL) has won contracts worth RM73mil, bringing the total value of contracts secured so far this year to RM155mil……
Bills for better supervision
PETALING JAYA: The proposed Financial Services Bill (FSB) and Islamic Financial Services Bill (IFSB) will impose greater obligations on financial holding companies and help strengthen regulation, supervision and governance of financial services group…..
RAM reaffirms ratings for Menara ABS sukuks
KUALA LUMPUR: RAM Ratings has reaffirmed the respective AAA, AA2, A1, A2 and AAA ratings of Menara ABS Bhd’s Tranche A1, Tranche A2, Tranche A3, Tranche A4 (Tranche A Sukuk) and Tranche B Sukuk Ijarah……
Ranga re-elected as MSA president
PETALING JAYA: The Media Specialist Association (MSA) has re-elected its president Ranga Somanathan, for another term of two years at its recent AGM……
SEGi’s offer letter delivered
KUALA LUMPUR: Seg Internationl Bhd’s (SEGi) offerors have sent the official documents pertaining to the offer to privatise the education company……
Nod for Maybank’s MTN programme
PETALING JAYA: The Securities Commission (SC) has approved Malayan Banking Bhd’s (Maybank) proposed US$5bil (RM15.7bil) multi-currency medium-term note (MTN) programme……
Sunway unit gets credit facilities
KUALA LUMPUR: Sunway Bhd’s unit Sunway Integrated Properties Sdn Bhd (SIP) has secured credit facilities totalling RM302.2mil from Public Bank Bhd and Affin Bank Bhd……
Hektar Asset gets SC’s green light
KUALA LUMPUR: Hektar Asset Management Sdn Bhd, the manager of Hektar Real Estate Investment Trust (Hektar REIT), has obtained the approval from the Securities Commission (SC) for the proposed fund size increase and to list the new units on the Main M…..
TM remains top pick
TELEKOM Malaysia Bhd (TM) remains an outperform with a higher discounted cashflow-based target price as we lower its weighted average cost of capital for its active capital management. It is one of our top picks due to its continued strong growth a…..
Asia helps drive Facebooks goal
KUALA LUMPUR: As Facebook nears saturation levels in some Western countries, Asian users are helping drive the social-networking leaders march on the 1 billion-user milestone and beyond……
Facebook IPO size 25% bigger
NEW YORK:Facebook Inc increased the size of its initial public offering (IPO) by almost 25%, and could raise as much as US$16bil as strong investor demand for a share of the No.1 social network trumps debate about its long-term potential to make mone…..
AirAsia surprises investors
PETALING JAYA: AirAsia Bhd surprised its shareholders and analysts when it announced its intention to pay a significantly higher dividend for the financial year ended Dec 31, 2011 (FY11)……
HLB earnings soar on merger with EON Capital
PETALING JAYA: Hong Leong Bank Bhd’s (HLB) net profit for its third quarter ended March 31 rose 60.5% to RM465.1mil from RM289.7mil a year earlier, alongside a 49.2% jump in its parent Hong Leong Financial Group Bhd’s (HLFG) net profit to…..
MISC net loss widens in Q1
PETALING JAYA: MISC Bhd suffered a net loss of RM465.08mil in its first quarter ended March 31 compared with a net loss RM307.88mil a year earlier on the back of lower revenue, which slipped to RM2.4bil from RM2.9bil previously……
Tradewinds Q1 earnings down
PETALING JAYA: Tradewinds Plantation Bhd’s net profit for its first quarter ended March 31 fell sharply by 91% to RM4.34mil from RM48.63mil mainly due to lower production and prices of palm products……
Lower profit for Media Prima
PETALING JAYA: Media Prima Bhd’s net profit for the first quarter ended March 31 fell 40% to RM20.79mil from RM34.79mil a year earlier mainly due to lower revenue, in line with the general seasonal trends of advertising spending by advertisers……
Konsortium Logistik profit slips
PETALING JAYA: Konsortium Logistik Bhd’s net profit for the first quarter ended March 31 slipped to RM4.57mil from RM10.93mil previously mainly due to lower logistics activities in the automotive logistics division as well as delays in the awar…..
BSN revenue up 12.6% in 2011
KUALA LUMPUR: Bank Simpanan Nasional (BSN) announced its 2011 financial highlights and reported a registered revenue of RM1.5bil against RM1.3bil in 2010, representing a 12.6% year-on-year growth……
Samsung’s big loss on Apple order
SEOUL: Shares in Samsung Electronics Co slumped more than 6% yesterday, wiping US$10bil off the electronics giant’s market value, on a report that Apple placed huge chip orders with troubled Japanese chip rival Elpida. &n…..
SP Setia development wins another FIABCI award
PETALING JAYA: SP Setia Bhds award-winning development in Johor, Setia Eco Gardens bagged another FIABCI Prix dExcellence award at the 2012 FIABCI Prix dExcellence Awards Ceremony held in St Petersburg……
HSBC: Invest more in human capital
KUALA LUMPUR: Malaysia should strengthen its human capital if it wants to compete with China, said HSBC Global Asset Management head of macro and investment strategy Phillip Poole……
Petra Energy may come back in focus
KUALA LUMPUR: Petra Energy Bhd could come into focus in the coming weeks ahead on the stock market following the planned stake sale by its present shareholder Perdana Petroleum Bhd……
Total eyes more projects in Australia
SYDNEY: The head of France’s Total said the energy giant wants to expand in Australia’s booming resources sector, but warns that a lack of manpower and lively competition could contain its ambitions……
Tepco, firms eye stake in Aussie LNG project
TOKYO: A group of Japanese firms is in talks to pay US$4.4bil for a stake in Australias Wheatstone gas field that had been set aside for bailed-out nuclear operator Tokyo Electric Power Co (Tepco), as the country looks to shore up long-term energy s…..
BHP warns commodity markets to cool further
SYDNEY: BHP Billiton said it expects commodity markets to cool further and that investors have lost confidence in the longer-term health of the global economy, in the most cautious comments yet from the worlds biggest miner. …..
Singapore April exports to rise
SINGAPORE: Singapores key exports likely rebounded in April, helped by stronger shipments of rigs and pharmaceuticals, but the data may also show weakness in trade with some Asian countries, adding to concerns about the region. …..
Indian rupee at record low
MUMBAI: The Indian rupee hit a record low against the dollar yesterday as risk aversion in global markets added pressure on a currency already under fire from fiscal and current account deficits that are weighing on growth. …..
Indonesia bucks trend, expects economy to expand despite uncertainty in global scene
JAKARTA: Indonesias government expects the economy to expand between 6.8% and 7.2% next year from the more modest 6.5% target of 2012, despite uncertainty in the global economy, according to the text of a speech finance minister Agus Martowardojo……
Slowdown presents challenge for Beijing
BEIJING: A slew of bleak data has raised fears Chinas economy is cooling faster than previously thought, but analysts say Beijing has only limited means to prevent a politically damaging slowdown……
Japan Q2 machinery orders forecast points to recovery
TOKYO: Japans core machinery orders fell in March as demand moderated, but companies expect orders to grow in the second quarter at their fastest pace in a year a sign that reconstruction after last years earthquake may support growth……
BoE keeps options open on economy
LONDON: Bank of England governor Mervyn King is seen leaving the door open for more support for Britain’s struggling economy, prompted by escalating dangers from the eurozone. …..
Portugal jobless rate hits high
LISBON: Portugals unemployment rate jumped to a record high in the early part of this year even as the recession eased, showing the uphill struggle the country faces to nurse its way back to economic health while running a harsh austerity programme……
HTC tumbles as patent case delays US sales
TAIPEI: US sales of two new smartphones from Taiwans HTC Corp will be delayed due to a patent dispute with Apple Inc, a fresh blow to the company as it tries to turn around declining sales in what was once its largest market. …..
GM to drop Facebook ads
DETROIT: General Motors Co (GM) says it will stop advertising on Facebook, even as the social networking website prepares to go public, with a source familiar with the matter saying the carmaker had decided Facebooks ads had little impact on consume…..
New daily high for derivatives deals
KUALA LUMPUR: Total contracts traded on Bursa Malaysia Derivatives (BMD) reached a historical daily volume high of 77,703 contracts yesterday, surpassing the previous record of 74,014 contracts on Feb 24, 2011……
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