Resurgence of bedbugs across US leads to desperate measures
COLUMBUS, Ohio: A resurgence of bedbugs across the U.S. has homeowners and apartment dwellers taking desperate measures to eradicate the tenacious bloodsuckers, with some relying on dangerous outdoor pesticides and fly-by-night exterminators.
US and European stocks fall, Asia up
NEW YORK: Stocks fell Monday after more signs of slowing economic growth got investors worried ahead of a key report on jobs later this week.
HP authorizes US$10 billion share buyback
PALO ALTO, California: Hewlett-Packard Co. said Monday its board has authorized the repurchase of US$10 billion in shares.
MySpace users can now sync posts to Facebook
EPF to invest RM4.88bil in UK properties
PETALING JAYA: The Employees Provident Fund (EPF) will invest £1bil (RM4.88bil) in properties in the UK, the pension fund said in a statement yesterday.
Sime re-looks property joint ventures
PETALING JAYA: Sime Darby Bhd is taking a re-look at some of its property joint ventures and, where possible, is seeking to unwind out of ventures that do not create maximum value for itself. It is also in nohurry to list its Indonesian plantationarm, as was earlier speculated, preferring to enhance efficiencies before such an exercise.
New low cost carrier terminal to cost more
SEPANG: Malaysia Airports Holdings Bhd (MAHB), which had an initial budget of RM2bil to build the new low-cost carrier terminal (LCCT) may have to pay more for the terminal due to delays in placing out contracts.
Can Sime Darby create value?
SIME Darbys new man at the helm has certainly been saying the right things. Last week new CEO Datuk Mohd Bakke Salleh announced plans to revamp the groups sprawling businesses into six flagship subsidiaries, each with its own board of directors and committees.
Water solution in sight for Selangor
PUTRAJAYA: There has been a breakthrough in water crisis talks between the Federal and Selangor governments with both parties agreeing that the matter needs to be resolved soon.
PLUS Expressways records growth in traffic
KUALA LUMPUR: PLUS Expressways Bhd announced a traffic volume of 1,281.4 million passenger car unit kilometre (PCU-km) in July, up 4% compared with the same period last year.
Fear of global fertiliser cartel formation
CURRENTLY there is a hype among top mining giants to acquire fertiliser-related businesses, an industry ignored for the past two decades but gaining interest on concern over the worlds food security amid the scarcity of food-based crops.
Sarawak Hidro awaiting response from authorities on Bakun Dam
PETALING JAYA: Sarawak Hidro Sdn Bhd, the developer and owner of the 2,400MW Bakun Dam project, briefed the state authorities last week on the details pertaining to the flooding of the dam.
TAFI hopes to supply more furniture to education centres
MUAR: TAFI Industries Bhd hopes to supply more furniture to private schools, public and private tertiary institutions as well as student hostels.
Bank signs agreement with Chinese partners
PETALING JAYA: ECM Libra Financial Group Bhd said its investment banking division ECM Libra Investment Bank has entered into an agreement with Chinas Dacheng Law Offices and Hejun Consulting.
Tanjung Capitals offer fair, says deal advisor
PETALING JAYA: The proposed takeover offer by Tanjong Capital Sdn Bhd to acquire the remaining shares it did not already owned in Tanjong plc at RM21.80 per share in cash is deemed fair and reasonable by MIMB Investment Bank Bhd.
Bursa cancels Unisem warrants trade
PETALING JAYA: Bursa Malaysia cancelled trading in newly listed Unisem (M) Bhd warrants from 2.30pm to 3.23pm yesterday due to a mistake in computing the upper limit price of the warrants.
Esthetics founder exits company
PETALING JAYA: Esthetics International Group Bhds (EIG) substantial shareholder Melissa M. Chen has sold her stake and ceased to be a substantial shareholder in the company.
K.M. Lee writes on Bertam Alliance, Huat Lai Resources and Leong Hup Holdings
Maxis makes strong turnaround in Q2
KUALA LUMPUR: Maxis Bhd posted a net profit of RM532mil for the second quarter ended June 30 against a net loss RM32mil a year earlier. Its revenue for the quarter rose to RM2.19bil versus RM1.79bil previously.
Cahya Mata Q2 profit lower
KUALA LUMPUR: Cahya Mata Sarawak Bhd groups pre-tax profit for the second quarter ended June 30, 2010 was RM16.62mil, which was 22% lower than the RM21.35mil in the preceding quarter.
BIMB posts lower fourth quarter profit
PETALING JAYA: BIMB Holdings Bhd posted 35.24% lower net profit of RM22.54mil for the fourth quarter ended June 30 compared to a year ago.
Kulims second-quarter net profit down by half
PETALING JAYA: Kulim (M) Bhds net profit halved to RM14.65mil for the second quarter ended June 30 compared with the same quarter a year ago due to the consolidation of QSR Brands Bhds and KFC Holdings Bhds financial results into the company.
Perwaja expects better second-half results
PETALING JAYA: Perwaja Holdings Bhd expects its results for the second half to be better, if not in line with its first-half results.
Corporate results in brief
Results from: KPJ, Muhibbah, KNM, Kulim, Bonia, Oriental Holdings and Leong Hup.
Q2 company profits surge in Australia
SYDNEY: Australian companies enjoyed the biggest boost in profits in a decade last quarter led by a record 63% jump in the mining industry as strong Asian demand fuelled skyhigh prices for iron ore and coal.
Spore moves to cool property market
SINGAPORE: Singapore yesterday announced restrictions on people buying second homes as part of new measures to cool its residential property market, hurting property stocks.
PKNS to enter REIT industry
PETALING JAYA: Selangor State Development Corp (PKNS) will be signing a series of agreements to mark its entry into the real estate investment trust (REIT) industry.
Deferred IFRIC 15 brings relief
PETALING JAYA: The Malaysian Accounting Standards Board (MASB) has deferred implementing the much-debated accounting practice that recognises developers revenue only on completion of projects to 2012, MASB announced on its website yesterday.
No decision on Menara Olympia
PETALING JAYA: Olympia Industries Bhd is yet to make a decision on the fate of its Menara Olympia property located along Jalan Raja Chulan in Kuala Lumpur following the decision by Jelita Timur Sdn Bhd to abort the acquisition.
Posco considers buying silicon maker Elkem
SEOUL: Posco, the worlds No. 3 steelmaker, is considering buying Elkem, a Norwegian maker of silicon for solar panels owned by pizza-to-aluminium conglomerate Orkla ASA, its CEO said yesterday.