Illegal cigarette sales in Malaysia fall
Sales of illegal cigarettes in Malaysia fell in the three months to August to account for 36.7 per cent of total industry sales in the country after the government intensified raids on such sales, according to the Confederation of Malaysian Tobacco M…..
Ibraco to sell land in Kuching
Ibraco Bhd plans to dispose of 6.48 hectares of mixed zone land in Kuching, Sarawak to Wansa Realty Sdn Bhd for RM14.18 million cash. In a filing to Bursa Malaysia today, Ibraco said the demand for office and exhibition buildings was expected to be l…..
Seacera Tiles inks MoU with Mydin
Seacera Tiles Bhd today entered into a Memorandum of Understanding (MoU) with Mydin Mohamed Holdings Bhd (MMHB) in relation to a proposed building to be developed by Seacera in Selangor. In the MoU, MMHB has expressed interest to lease the building f…..
Nasim to launch Peugeot 308CC in Jan
Nasim Sdn Bhd, the official distributor of the Peugeot cars in Malaysia, will kick off 2011 with the launch of the much anticipated and award-winning 308cc on January 6.The two-door convertible will be the first of three new models to be launched by …..
Tambun Indah to acquire land in Penang
Tambun Indah Land Bhd, a leading property developer in Penang, is planning to acquire 3.2 hectares of land next year.Managing Director Ir Teh Kiak Seng said the group had identified 1.6 hectares on the mainland and another 1.6 hectares on Penang isla…..
Celcom boosts East Coast broadband service
Celcom Axiata Bhd is intensifying efforts to enhance the quality of broadband service in the East Coast on expectations of a significant increase in users next year. The company’s eastern region vice president, Datuk Sulaiman Ahmad, said that present…..
Stanchart Saadiq wins Islamic banking award
Standard Chartered Saadiq Malaysia, the Islamic banking unit of Standard Chartered Bank Malaysia Bhd (Stanchart) has won the Islamic Business and Finance Awards for Best International Bank 2010.In a statement today, Stanchart said the award has cemen…..
KL shares end broadly higher
Share prices on Bursa Malaysia closed broadly higher today as investors continued to pick up selected heavyweight stocks, signaling the possibility of a pre-new year rally, dealers said.The FTSE Bursa Malaysia (FBM) KLCI closed 6.9 points higher at 1…..
Kangaroo strikes A$277m coal deal
Kangaroo Resources Ltd (KRL) has bought a 99 per cent stake in a large thermal coal project in Indonesia. KRL bought the stake in the Pakar thermal coal project in East Kalimantan from PT Bayan Resources Tbk in a scrip deal worth A$277 million. Pakar…..
RM20m GDV for ‘Garden Explore’ project
Green Atmosphere Sdn Bhd (GA) has estimated a gross development value of RM20 million for its newly launched one-stop outdoor living mart project called ‘Garden Explore’. With its strategic location in Seri Kembangan, between Puchong and Putrajaya, t…..
Energy stocks push Dow to 2-year high
NEW YORK: US blue chip stocks hit fresh two-year highs on Tuesday, as a strong performance from the energy and utilities sectors boosted the market.The Dow Jones Industrial Average rose 20.51 points (0.18 per cent) to 11,575.54, buoyed by gains from…..
Market higher at midday
Share prices on Bursa Malaysia closed higher at midday break amid a rangebound trade, with the key FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) settling 0.41% higher due to sustained buying on index-linked counters……
Seloga directors challenge removal
PETALING JAYA: The four directors of Seloga Holdings Bhd, who received notices of their termination as directors with immediate effect, are expected to challenge their removal and present their case to shareholders at an EGM next month……
Jelas Ulung not planning to seek extension for concession
PETALING JAYA: Jelas Ulung Sdn Bhd is not planning on asking the Government for an extension of PLUS Expressways Bhds tolled-highway concessions post-2038 in its proposal to take over the company……
Private consumption growth to remain stable
PETALING JAYA: Growth in private consumption is expected to remain stable next year despite the threat of higher inflation and a slower expansion of the economy……
More fund raising seen next year, driven by ETP
KUALA LUMPUR: More fund raising activities are expected next year, largely driven by the Economic Transformation Programme (ETP), says AmInvestment Bank Bhd……
Reverse takeover offer of Esmart by Atlan now unconditional
PETALING JAYA: Atlan Holdings Bhd said the two conditional sale and purchase agreements dated June 28 entered between Atlan and Esmart Holdings Ltd (Esmart) pursuant to the reverse takeover of Esmart became unconditional yesterday……
Wah Seong subsidiaries dispose stakes in DrilBits, DrilTools
KUALA LUMPUR: Wah Seong Corp Bhds wholly owned direct and indirect subsidiaries, Wah Seong International Pvt Ltd and Wasco E&P Services Ltd, have disposed of their 60% equity stakes in DrilBits International Pvt Ltd and DrilTools International FZCO,…..
Jaks secures RM201m contract
PETALING JAYA: Jaks Resources Bhd, through subsidiary Jaks Sdn Bhd, has secured a RM201mil contract from MNH Global Assets Management Sdn Bhd for a commercial project located in Ara Damansara……
Buoyant year ahead for natural rubber
PETALING JAYA: Rubber prices, which hit many new historic highs over the past two months, are set to extend their rally into the first quarter of next year on a prolonged tight supply situation, says industry experts……
STC grants BLand extension of time
PETALING JAYA: Selangor Turf Club (STC) has granted a further extension of time to Berjaya Land Bhd (BLand) to Jan 18, 2012 from Jan 19, 2011 to fulfill the conditions precedent pursuant to the proposed acquisition of STCs 244.79 acre leasehold prop…..
MARC affirms ratings on EP notes
PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has affirmed its MARC-2ID/AID ratings on EP Manufacturing Bhds RM150mil murabahah notes issuance/islamic medium term notes (MUNIF/IMTN) facilities and RM120mil MUNIF/IMTN facilities……
Boromir notes ratings reaffirmed
PETALING JAYA: RAM Ratings has reaffirmed the respective long-term ratings of Boromir Capital Sdn Bhd’s Class A, B, C and D commercial papers/medium-term notes programme (CP/MTN programme) at AAA, AA2, A1 and A2 ……
Crowe Horwath ops expand on merger
KUCHING: Crowe Horwath, Malaysias fifth largest accounting firm, has increased its offices in the country by four to 12 locations with the merger of Hii & Lee, together with Kenny Chong of Tong & Chong Partners……
Poll: Youths still tuned in to mass media
PETALING JAYA: Most single youngsters aged 15 to 24 years have not yet abandoned mass media, despite the image of them as being glued to the Internet……
Wise to weigh on early predictions
SCANNING the news overseas over the past few days, one sees an emerging theme of warning that the next banking or financial crisis can occur if some outstanding issues are not resolved……
Can JCorp manage debt without asset sale?
PETALING JAYA: For those still craving for a bite of its finger lickin good business in Malaysia, Johor Corp (JCorp) has this to say: QSR Brands Bhd and KFC Holdings (M) Bhd are not for sale.…..
KL motor show should have more foreign brands in future
THE Kuala Lumpur International Motor Show (KLIMS) 2010, which came to a close on Dec 12, drew mixed responses from 321,958 people that attended it during the 10-day tenure……
ASN income distribution at 6 sen
KUALA LUMPUR: Amanah Saham Nasional Bhd (ASNB), a wholly owned subsidiary of Permodalan Nasional Bhd (PNB), yesterday announced an income distribution of 6 sen per unit for Amanah Saham Nasional (ASN) scheme for the financial year ending Dec 31, 2010…..
CIMB completes restructuring of Thai units NPLs
PETALING JAYA: CIMB Group Holdings Bhd has completed the restructuring of non-performing loans (NPLs) under the non-performing asset division of 93.15%-owned subsidiary CIMB Thai Bank pcl……
Sunway City buys land in Johor
PETALING JAYA: Sunway City Bhd is acquiring 64.63 acres near Johor Baru from Bukit Lenang Development Sdn Bhd for RM134.52mil……
MSC secondary listing approved
PETALING JAYA: Shareholders of Malaysia Smelting Corp Bhd (MSC) has approved the secondary listing of the company on the Singapore stock exchange in a meeting……
Kenmark to delist on Dec 31
PETALING JAYA: Furniture maker Kenmark Industrial Co (M) Bhd, a financially distressed company, would be removed from the official list of Bursa Malaysia this Friday……
AIG, unit sign US$4.3bil credit agreements
CHARLOTTE: Bailed-out insurer American International Group (AIG) took another step toward winding down its US government support on Monday by securing US$4.3bil of bank credit lines, and company shares surged……
Daiichi to take over Tower Group
TOKYO: Japan’s Daiichi Life Insurance Co plans to buy the shares it does not already own in Tower Australia Group Ltd for about 100 billion yen (US$1.21bil), the Nikkei business daily said yesterday……
Alcatel agrees to settle bribery case
WASHINGTON: Alcatel Lucent SA has agreed to pay more than US$137mil to settle US charges that it paid millions of dollars in bribes to foreign officials to win business in Latin America and Asia, US authorities said on Monday……