Bursas trading will only close half day on eves of Hari Raya Aidilfitri and Chinese New Year
Bursa Malaysia Bhd announces that it will implement a half day trading closure on the eves of Hari Raya Aidilfitri and Chinese New Year.
FBM KLCI higher in early trade
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) rose 2.76 points or 0.19% to 1464.54 points at 9.17am. It opened at 1465.84 points this morning, jumped 4.06 points.
Billionaires Gates, Buffett dine with China’s rich for charity
BEIJING: Billionaire investor Warren Buffett said a meeting about charity he attended Wednesday with Microsoft Corp. co-founder Bill Gates and dozens of China’s super rich was “a tremendous success,” despite earlier concerns that the country’s newly minted millionaires would be pressured to give up their fortunes.
Canadian police looking for rightful owner of allegedly stolen $12.5mil lottery ticket
TORONTO: Police said Wednesday they were searching for the rightful owners of a $12.1 million lottery ticket after charging a family in Ontario with stealing the jackpot.
Oil prices climb after crude supplies decline
NEW YORK: Oil prices rose Wednesday after the U.S. government reported inventories fell last week, though supplies remained well above the five-year average.
US stocks slip as European protests worsen debt fears
NEW YORK: Stocks slipped Wednesday as protests against austerity measures in Europe brought new worries about the region’s financial system.
China targeted in US bill on currency manipulation
More than a brand at stake in Lotus-Proton saga
THE tiff between Proton Holdings Bhd and Datuk Seri Tony Fernandes-led Lotus Racing Formula One Team has left many scratching their heads wondering whats the beef all about but at the heart of the tussle is a fight over the brand.
Nomura: M’sia will over-achieve in terms of growth this year at 7%
KUALA LUMPUR: Malaysia must step up efforts to attract investments and become more competitive if it wants to become a high-income nation in a decade, an economist with a foreign firm said.
Budget 2011 to give incentives for private sector participation
PETALING JAYA: Its almost certain that the private sector will be fed with incentives to be spurred to invest in entry point projects (EPPs) under the Governments Economic Transformation Programme (ETP).
Ringgit hits a new high against US$
PETALING JAYA: The ringgit rose to a fresh 13-year high against the ailing US dollar yesterday, tracking gains by other regional currencies, as the prospect of stronger economic growth fuelled speculation of further inflows from overseas funds.
IMF chief sees no risk of a global currency war
WASHINGTON: International Monetary Fund (IMF) chief Dominique Strauss-Kahn said on Tuesday he did not see a risk of a global currency war as countries intervened to weaken their currencies but acknowledged it was a concern.
Petronas tight-lipped over US$900mil stake sale in Cairn India
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) remains tight-lipped over the sale of its 14.9% equity stake in Cairn India Ltd, which explores and produces crude oil and natural gas in India.
Msia continues global rubber glove market domination
KUALA LUMPUR: Malaysia continues to dominate the world rubber gloves market by capturing about 60.8% of total world exports last year and is clearly ahead of its closest competitors. It is followed by Thailand at 16.8%, China 6.7% and Indonesia 5.1%, a conference was told yesterday.
Sumitomo to buy stake in RM2.78bil smelter project in S’wak
KUALA LUMPUR: Sumitomo Corp, Japans third-largest trading company, will invest in an aluminum smelting project costing as much as US$900mil (RM2.78bil) in Sarawak.
EONCap director fails to explain obstacles to Hong Leong Bank takeover offer
KUALA LUMPUR: EON Capital Bhd (EONCap) director Datuk Seri Dr Tiong Ik King did not manage to explain in the High Court yesterday what were the obstacles to Hong Leong Bank Bhds (HLB) takeover offer of EON Cap which were discussed at two board meetings held in January this year as alleged in his affidavit.
Iskandar may get new CEO
PETALING JAYA: Something is brewing in Iskandar Investment Bhd (IIB), the company tasked with bringing investments into Iskandar Malaysia in Johor, and in Khazanah Nasional Bhd.
New CEO for Tune Money
KUALA LUMPUR: Tune Money Sdn Bhd, the one-stop online financial services company under Tune Group, yesterday announced the appointment of Peter Miller as chief executive officer effective tomorrow.
Kimlun awarded RM70m project
KUALA LUMPUR: Kimlun Corp Bhd wholly-owned subsidiary Kimlun Sdn Bhd was awarded a RM70mil contract for the construction of main building works for Marlborough College East in Mukim Pulai, Iskandar Malaysia.
Tanjung unit gets extension
PETALING JAYA: Tanjung Offshore Bhd wholly-owned subsidiary, Tanjung Offshore Services Sdn Bhd has been approved and awarded a contract extension by Petrofac (Malaysia PM-304) Ltd that is valued at RM110mil.
WITH reference to the article “NCIA Redza also tipped for top job at Prasarana” on Wednesday Sept 29, StarBiz would like to clarify that Prasarana Negara Bhd current group managing director Datuk Idrose Mohamed did not wish to have his contract extended upon its expiry on Sept 30.
Renewed interest in Masterskill after nod for new campus
PETALING JAYA: Masterskill Education Group Bhd, which has been in the limelight due to its plunging share price since Sept 1, saw renewed interest in its stock after the company said it had secured Government approval for its Kuching campus, an issue that is said to have concerned investors.
UBG receives notice of takeover offer
PETALING JAYA: UBG Bhd has received a notice of mandatory take-over offer from Javace Sdn Bhd, which is wholly owned by PetroSaudi International Ltd, Seychelles, and PetroSaudi chief executive officer Sheikh Tarek Essam Ahmad Obaid to acquire all voting shares in UBG not already owned by Javace and parties acting in concert with it for RM2.50 per offer share.
Unico shareholders query loan to director
KUALA LUMPUR: A group of Unico Holdings Bhd minority shareholders is questioning a loan of 10 million yuan given by a fully-owned subsidiary in Shanghai to its own director.
GPlus accepts Bursa directives
PETALING JAYA: Golden Plus Holdings Bhd (GPlus) says it is not objecting to the directives of Bursa Malaysia as alleged.
Malaysia Debt Ventures plans third Islamic bond sale next year
KUALA LUMPUR: Malaysia Debt Ventures Bhd, a venture capital firm owned by the Finance Ministry, plans to issue about RM500mil of Islamic bonds in its third sukuk sale next year to fund investments, chief executive officer Md Zubir Ansori Yahaya said.
K.M. Lee writes on Puncak Niaga, Tomei Consolidated and Unisem.
Maybank sees bigger foreign contributionto earnings
KUALA LUMPUR: Malayan Banking Bhd (Maybank) expects its international operations from countries such as Singapore and Indonesia to contribute 40% to the groups net profit by 2015.
BCorp sees surge in first-quarter net profit
KUALA LUMPUR: Berjaya Corp Bhds (BCorp) net profit for the first quarter ended July 31 surged 214.4% to RM125.5mil from RM39.9mil a year ago due to positive operating results from the consumer marketing and distribution business.
Kencana posts RM41.5mil Q4 net profit
PETALING JAYA: Kencana Petroleum Bhd registered a net profit of RM41.5mil for the fourth quarter ended July 31, 37.1% higher than RM30.3mil in the previous corresponding period, mainly due to lower expenses incurred and better management of relevant costs particularly from the offshore services segment.
MPPP revises plot ratio for high-rise properties
GEORGE TOWN: The Penang Municipal Council (MPPP) has revised the plot ratio guidelines for high-rise properties on the island to allow developers to construct a total of 122,000 sq ft per acre compared with 42,000 sq ft per acre previously.
MAS sees new aircraft delivery next month
GEORGE TOWN: Malaysia Airlines (MAS) is expected to take delivery of 35 Boeing 737-800 aircraft next month.
Fluor awarded Shells Project Hijau Gasoil Phase-1
TEXAS: Fluor Corp announced that it was awarded the Project Hijau Gasoil Phase-1 by Shell Refining Co (Federation of Malaya) Bhd, according to Business Wire.
Billionaire Buffett may raise stake in carmaker
HONG KONG/BEIJING: Billionaire investor Warren Buffett has discussed the possibility of raising his 10% stake in car and battery maker BYD Co Ltd, a Chinese newspaper reported yesterday, sending BYD shares up over 4%.
Bank Indonesia to hold rate at 6.5%
JAKARTA: Indonesias central bank governor said yesterday that he was confident of a policy rate at 6.5%, indicating no change at next weeks policy meeting, as inflationary pressures ease.
Mapletree trust IPO to raise up to S$940m
SINGAPORE: Mapletree Industrial Trust, a property trust linked to Temasek, is set to raise as much as S$940mil from its IPO in Singapore after it set a price range of S$0.88-S$0.93 a unit.
GIC expects slow growth in West for next 10 years
SINGAPORE: The Government of Singapore Investment Corp (GIC) expects economic growth in developed countries to be slow over the next decade which is why it plans to invest more in the developing world, a senior official said yesterday.
China industry looking up again
BEIJING: Chinese manufacturing is regaining some of its usual vigour after slowing in the first half of 2010 as the government reeled in credit and battled to deter speculative property investment.
New rating firms model may reshape sector
BEIJING: China is setting up a semi-official credit rating firm that breaks with the mainstream Western pricing model by charging investors rather than issuers to assess creditworthiness.
JPMorgan to triple Asia assets
NEW YORK: JPMorgan Chase & Co plans to triple its private banking assets in Asia over the next five years, a company spokesman confirmed on Tuesday.
Tax scrapped for some affordable home builders
BEIJING: China will exempt a segment of the low-income housing sector from tax in a drive to boost supply, according to a government statement.