Tradewinds Q3 pretax rises to RM233.7m
Tradewinds (M) Bhd’s pre-tax profit for the third quarter ended Sept 30, 2010 rose to RM233.7 million from RM67.7 million in the same period last year.Revenue increased to RM1.39 billion from RM455.9 million previously, it said in a filing to Bursa M…..
Malaysian banks make their mark regionally
IT is obvious that Malaysian banks are making their mark in the region, especially with open invitations, to operate in neighboring countries.The Finance Ministers of Thailand and the Philippines openly invited Maybank and CIMB Bank to operate in the…..
Techpark@enstek to be SEAsia’s biotech hub
Techpark@enstek, the 524-acre technology park in Bandar Enstek, has envisaged becoming Southeast Asia’s biotechnology hub by 2020.Playing a major role under the National Biotechnology Policy, Techpark@enstek houses the largest cluster of local and in…..
Kurnia Asia posts lower pretax profit
KURNIA Asia Bhd posted RM2.38 million in losses for its third quarter ended Sept 30, 2010, from a pre-tax profit of RM32.62 million recorded in the same quarter last year. However, revenue rose to RM300.6 million from RM254.96 million. In a filing to…..
Dr M: Change strategy to achieve Vision 2020
Former prime minister Tun Dr Mahathir Mohamad said Malaysia needs to change strategy to achieve Vision 2020. The old idea of attracting direct foreign investment cannot be depended upon anymore and Malaysia needs to focus on churning out more action …..
No need for capital controls: Malaysia
MALAYSIA doesn’t see the need to impose capital controls, Second Finance Minister Ahmad Husni Hanadzlah told reporters in Kuala Lumpur today. – Bloomberg…..
Eastern Pacific sees higher profit in Q3
EASTERN Pacific Industrial Corporation Bhd posted a higher pre-tax profit of RM20.8 million in the third quarter ended Sept 30, 2010, compared with RM14.3 million pre-tax profit in the same period last year. The revenue increased by 67 per cent t…..
SAAG climbs on Q3 profit report
SAAG Consolidated (M) Bhd, a Malaysian oil and gas engineering equipment supplier, rose after the company reported a profit of RM13.5 million in the third quarter compared with a loss a year earlier.The stock climbed 7.1 per cent to 7.5 sen at 10.19 …..
Ismet Suki is UMW Toyota Motor president
THE UMW Group on Tuesday announced that Ismet Suki is the new President of UMW Toyota Motor Sdn Bhd.His appointment takes effect on Jan 1, 2011.Ismet, 57, succeeds Kuah Kock Heng, who will complete his term on Dec 31, said UMW Group in a statement to…..
RM7.4m pretax profit in Q3 for MBF Holdings
MBF Holdings Bhd’s pre-tax profit for the third quarter ended Sept 30, 2010 declined to RM7.415 million from RM33.239 million in the same quarter last year.The decline in the pre-tax profit was due to the initial losses of the newly set up shipping o…..
KL shares close lower
Share prices on Bursa Malaysia closed lower today on selling pressures in selected blue-chips including Maybank, Sime Darby and Genting, dealers said.The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index fell by 10.72 points, or 0.7 per cent…..
iPads need fast networks, says Yes
Yes, the Mobile Internet Service with Voice operated by YTL Communications Sdn Bhd, says that Apple iPads owners often consume data three times more than that of 1Phone users and need to have fast networks for their devices to live up to their fulles…..
Malaysia Nov palm exports up 11.7pc: ITS
Malaysia’s palm oil exports rose 11.7 per cent in November, independent market surveyor Intertek said.A total of 1,512,250 metric tons of the commodity were tracked on November 1 to 30, versus 1,354,128 tons in the same period in October, Intertek sa…..
Public Mutual distribution for six funds
Public Bank Bhd’s unit, Public Mutual, has declared distributions for six of its funds for financial year ended Nov 30, 2010.It declared 2.50 sen per unit for Public Select Alpha-30 Fund; 1.50 sen/unit for Public Natural Resources Equity Fund; 0.50 s…..
US stocks lower amid European woes
NEW YORK: US stocks on Monday closed lower, paring heavier losses as strong weekend retail sales failed to offset concerns over the European economy following Ireland’s multibillion-dollar bailout.The blue-chip Dow Jones Industrial Average fell 39.51…..
SapuraCrest JV lands US$160m Aussie job
KUALA LUMPUR: SapuraCrest Petroleum Bhd and its partner have secured a US$160 million (RM504 million) contract from PTTEP Australasia (Ashmore……..
Maxis 3Q net profit RM601m on revenue of RM2.2b
KUALA LUMPUR: Maxis Bhd registered net profit of RM601 million on the back of RM2.21 billion in revenue for the……..
Konsortium Logistik 3Q net loss RM24.57m on writedowns of RM33.5m
KUALA LUMPUR: Konsortium Logistik Bhd registered losses of RM24.57 million in the third quarter ended Sept 30 from net profit……..
#Flash* Petronas targets RM80b pre-tax profit in FY2011
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) hopes to achieve pretax profit of RM80 billion in FY2011 from the RM67 billion……..
JCY posts 4Q losses of RM22.55m
KUALA LUMPUR: Hard-disk drive manufacturer JCY International Bhd posted net losses of RM22.55 million in the fourth quarter ended Sept……..
New Incentives for Oil and Gas
KUALA LUMPUR: New tax incentives to promote the development of oil and gas resources and stimulate domestic exploration activity were announced as one of the nine new developments under the Economic Transformation Programme (ETP)……
China announces new crackdown on product piracy
BEIJING (AP): China’s government announced a new crackdown Tuesday on rampant illegal copying of products from software to music that is adding to tensions with Washington and other governments over trade and currency complaints……
Pink diamond auctioned for $23mil, sets Asian record
HONG KONG (AP): A rare pink diamond has sold at an auction for more than $23 million in Hong Kong, making it the most expensive jewel ever sold in Asia……
Toyota fixing coolant pump in Prius globally
TOKYO (AP): Toyota is fixing the pump that cools the hybrid system in 650,000 Prius cars – the Japanese automaker’s prized green vehicle – but is adamant the repair being carried out worldwide isn’t another recall……
More than 8 million drop out of credit card use
NEW YORK (AP): More than 8 million Americans stopped using credit cards over the past year. The decline stems from a combination of consumer choices and bank actions. …..
Markets are lower
KUALA LUMPUR: The FBM KLCI was down 10.72 points to 1,485.22 on volume of over 1bil shares, as fund managers and investors pack off for their year end holidays. …..
JCorp rejects takeover offers
PETALING JAYA: Despite a bidding war having taken place involving big names in the local and international corporate world, it seems like none of them will get a slice of a finger-lickin good business……
Chow removed as Jetson director at EGM
KUALA LUMPUR: Chow Chee Kin has been effectively removed from his position as director at construction firm Kumpulan Jetson Bhd……
PM to announce projects under ETP to boost oil and gas sector
PETALING JAYA: Prime Minister Datuk Seri Najib Tun Razak is set to announce several new developments and entry point projects (EPPs) under the Economic Transformation Programme (ETP) today which will boost the oil, gas and energy sector……
Integrax co-CEO says buyout can clear row
KUALA LUMPUR: Integrax Bhd co-chief executive officer Harun Halim Rasip says the companys fallout with Taipan Merit Sdn Bhd may be solved if one of them buys the other out of Lumut Maritime Terminal Sdn Bhd (LMT)……
Handal inks pact with Indonesian partners
KUALA LUMPUR: Handal Offshore Services Sdn Bhd (HOSSB), a wholly-owned subsidiary of Handal Resources Bhd, has signed a joint-venture agreement with two Indonesian partners……
Web-based service for unclaimed cash
PETALING JAYA: The nations first online index to unclaimed money was unveiled yesterday by leading representatives of industry and the accountancy profession for people to check their unclaimed money……
Hamad is Sime deputy chairman
PETALING JAYA: Sime Darby Bhd non-executive director Tan Sri Hamad Kama Piah Che Othman has been made its deputy chairman, the conglomerate told Bursa Malaysia yesterday. Hamad Kama Piah is also the president and group chief executive of Permodalan N…..
Mida expects rise in E&E investments to exceed RM5bil this year
GEORGE TOWN: Malaysian Investment Development Authority (Mida) expects total investment in the electronics and electrical (E&E) sector this year to exceed RM5bil from about RM4.7bil in 2009……
LFX revises down listing sponsors entry level
KUALA LUMPUR: The Labuan International Financial Exchange (LFX) has revised downward the entry level for a licensed listing sponsor from the existing minimum net assets of US$2mil to US$100,000……
Sarawak to double oil palm plantation area
KUCHING: Sarawak, which recorded its fastest pace in opening up land for oil palm cultivation in the past one year, targets to double its plantation area to two million hectares……
What is Malaysia Steel Association up to?
THE market recently went abuzz with talk of a big split between the upstream steel players and other midstream and downstream steel players under the 40-year-old steel umbrella organisation, the Malaysian Iron and Steel Industry Federation (MISIF)……
Will the takeover rules ever be changed?
IT has been over eight months now since the Securities Commission (SC) first issued a consultation paper on the proposed changes to takeover rules……
Well-managed companies set to gain
ASIAS stock valuations are not expensive especially if you pick the right companies to invest for the long term. I sensed lately that there is a growing concern when I speak to investors about Asias or Malaysias stock markets……
Bank of Ireland seeks more capital
DUBLIN: Bank of Ireland said yesterday it would seek to raise almost 2.2 billion euros (US$2.9bil) of capital by February in a move that could bring the troubled lender close to nationalisation……
G-20 reform driven by US and Europe
HONG KONG: The lack of a unified Asian voice in the Group of 20 (G-20) leading economies means the United States and Europe are driving the overhaul of global financial regulation with several of the new rules posing significant challenges for emergi…..
RM1b investment fund for bumiputras launched
KUALA LUMPUR: Pelaburan Hartanah Bhd (PHB) hopes next year to increase its Amanah Hartanah Bumiputera (AHB) investment fund size by 50% from the existing 1 billion units, said managing director and chief executive officer Kamalul Arifin Othman……
Three-year plan to turn around AWC
PETALING JAYA: AWC Bhd has embarked on a three-year plan to consolidate and turn the company around from losses incurred over the past few years, group chief executive and managing director Azmir Merican said……
YTL said to be waiting for PM-telcos meeting
PETALING JAYA: YTL Communications Sdn Bhd (YTL Comms) claims it has a five-year licence in the 700Mhz spectrum to offer pay-television service but the Malaysian Communications and Multimedia Commission (MCMC) says otherwise……
PLUS: EGM to discuss offer on Dec 23
PETALING JAYA: PLUS Expressways Bhd announced to Bursa Malaysia yesterday that the EGM to consider the proposed disposal of its business and undertaking to a special-purpose vehicle to be held by UEM Group and the Employees Provident Fund board for R…..
Boustead posts higher profit due to better turnover
PETALING JAYA: Boustead Holdings Bhd registered a net profit of RM91.9mil for the third quarter ended Sept 30, up 6.6% from RM86.2mil in the same corresponding period last year mainly due to better performance from the plantation and trading division…..
Petronas Chemicals Q2 net profit down 8.9%
PETALING JAYA: Petronas Chemicals Group Bhd registered a net profit of RM503mil for the second quarter ended Sept 30, 8.9% lower than RM552mil in the same period last year due to lower operating profit……
RHB Cap Q3 net profit up
PETALING JAYA: RHB Capital Bhd posted a higher net profit of RM354.6mil for its third quarter ended Sept 30, compared with RM336.6mil in the previous corresponding period……
BCorp unit in brokerage tie-up with Kim Eng
KUALA LUMPUR: Berjaya Corp Bhd (BCorp) subsidiary Inter-Pacific Sdn Bhd (Interpac) has signed an asset purchase agreement with Kim Eng Holdings Ltd for a strategic partnership in stockbroking……