MARC targets 40pc of bonds issued in 2011
Malaysian Rating Corporation Bhd (MARC), aims to rate over 40 per cent of the bonds issued in the country this year.Its chief executive officer Mohd Razlan Mohamed said the expectation was based on the credit rating agency’s performance in the first …..
Malaysia Mar palm exports fall 0.5pc: ITS
Malaysia’s palm oil exports fell 0.5 per cent in March compared with the previous month, independent market surveyor Intertek said.A total of 1,105,440 metric tons of the commodity were tracked from March 1 to 31, versus 1,110,672 tons in February, I…..
US stocks post solid gains on jobs data
NEW YORK: US stocks made solid gains Wednesday after a key report on private-sector hiring suggested the ailing labour market had turned a corner.The Dow Jones Industrial Average rose 71.60 points (0.58 per cent) to finish at 12,350.61.The broad-base…..
FBM KLCI closes higher
Perisai acquisition draws interest
PETALING JAYA: Perisai Petroleum Teknologi Bhds acquisition of an oil and gas service provider from its former major shareholder and co-founder has raised some questions relating to valuations and the seemingly related party nature of it……
Lynas of Australia sheds some light on controversial project
PETALING JAYA: Australia-listed Lynas Corp Ltd had received approvals to build a rare earth refinery in Australia and China but had picked Malaysia as the preferred location given its proximity to market, access to high quality chemicals, utilitie…..
SC guidelines for credit rating agency registration
PETALING JAYA: The Securities Commission (SC) has issued guidelines for the registration of credit rating agencies with appropriate oversight of these agencies given their key role in the capital markets……
SJAM liquidator to meet investors
PETALING JAYA: BDO Governance Advisory Sdn Bhd, the provisional liquidator for SJ Asset Management Sdn Bhd (SJAM), is expected to meet investors of the financially troubled company tomorrow to discuss how investments recovered would be distributed……
AirAsia X awaits nod for Jeddah
SINGAPORE: Malaysias first long-haul budget carrier, AirAsia X, is in the final stages of getting the green light from the Government to fly to Jeddah, Saudi Arabia……
JCY eyes major client from Japan
Company is confident of bagging orders from one of the worlds leading E&E companies……
Sourcing Indonesian workers directly
KUCHING: Sarawak timber and plantation companies which require 12,600 to 13,000 new workers for their plywood mills and estates this year are turning to more localities in Indonesia to tackle their labour woes……
Krauss, Peak Line join hands for MRO activities
BERLIN: Germany-based Krauss Aviation Technologies has tied up with Peak Line (M) Sdn Bhd to establish a joint venture in Malaysia for maintenance, repair and overhaul (MRO) activities, catering to the aviation and non-aviation industries in the Asia…..
Healthcare provider Vamed keen on partnerships
VIENNA: Healthcare and service provider Vamed Engineering GmbH & Co KG of Austria is seriously exploring opportunities to invest in Malaysia……
New MD for Monetary Authority of Spore
SINGAPORE: Monetary Authority of Singapore (MAS) announced yesterday that Ravi Menon will be appointed managing director effective April 2……
VSI sets 40% dividend payout policy
PETALING JAYA: Integrated electronic manufacturing services provider VS Industry Bhd (VSI) has set a dividend policy of making out an annual payment of at least 40% of its net profit to shareholders as dividends, and plans to disburse payouts on a qu…..
Tan Chong to upsize MTN programme to RM2bil
KUALA LUMPUR: Tan Chong Motor Holdings Bhd has received approval from the Securities Commission to upsize its asset-backed medium term notes (MTN) programme to RM2bil from RM600mil. …..
Trading suspension for Fotronics Corp
PETALING JAYA: Trading in Fotronics Corp Bhd on Bursa Malaysia will be suspended from April 7 as it has failed to submit its regularisation plan within the stipulated time……
Berjaya Corp posts net profit
PETALING JAYA: Berjaya Corp Bhd posted a net profit of RM32.46mil in the third quarter ended Jan 31, 2011 compared with net loss of RM156.20mil a year ago on higher profit contribution from gaming, stock broking, direct selling, retail and distributi…..
Prudential appoints new CIO
KUALA LUMPUR: Prudential Assurance Malaysia Bhd (PAMB) has appointed Au E-Wan as its chief information officer effective since January……
Abass files suit against Syabas
PETALING JAYA: Konsortium Abass Sdn Bhd has filed a writ of summons against Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) to claim amongst others full payment on the invoices issued by the company amounting to RM149.5mil……
HO HUP Construction Co Bhd has clarified that the suit against Datuk Lye Ek Seang, Lim Ching Choy and Datuk Woo Thin Choy and another against Pioneer Haven Sdn Bhd, a Malton Bhd subsidiary, and former directors of Ho Hup and its subsidiary, Bukit Jal…..
Jotun counts on new plant
NILAI: Jotun Malaysia Sdn Bhd expects its turnover to grow by 10% this year from RM342mil last year with the opening of its RM160mil plant here……
Integrated Logistics to expand ops
KUALA LUMPUR: Integrated Logistics Bhd expects to spend RM200mil in three years to expand its business in China and Dubai……
Forum to highlight halal trade
PETALING JAYA: Over the past four decades, Islamic banking has emerged as one of the fastest growing industries at an estimated growth rate of 15-20% per annum. It has spread to all corners of the globe and received wide acceptance by both Muslims an…..
DPMM sticking to plan to acquire Kulim
KUALA LUMPUR: The Malay Chamber of Commerce Malaysia (DPMM) will stick to its plan to acquire a 53% stake in Kulim (M) Bhd through the Johor Malay Chamber of Commerce……
Mukhriz: Boost business activity with Pakistan
KUALA LUMPUR: The Malaysian-Pakistan Business Council (Mal-Pak) must re-examine the strengths and weaknesses of both nations and bring in entrepreneurs to fill in the gaps based on a win-win formula. There is still much room for improvement …..
Ireka awarded RM232m job
PETALING JAYA: Ireka Corp Bhds wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd (IECSB), has received a letter of award from Transmission Technology Sdn Bhd for a RM232.75mil contract……
CIMB raises BLR/BFR rates
KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd have announced an increase in their base lending rate (BLR) and base financing rate (BFR) by five basis points from 6.3% to 6.35%, effective from April 4……
Banks likely to maintain ROE after Basel III
KUALA LUMPUR: Accenture, a global management consulting, technology services and outsourcing company, expects Malaysian banks to maintain their return on equity (ROE) after the implementation of Basel III standards……
SPAC investment a leap of faith
ITS interesting to note just how listings of new companies have changed over the years. From the early days when stocks were sorted alphabetically in a single list, today there are separate categories to denote the type of industry or segment a stoc…..
Chinas five-year plan and global interest rates
CHINAS new five-year plan will have important implications for the global economy. Its key feature is to shift official policy from maximixing gross domestic product (GDP) growth toward raising consumption and average workers standard of living. Al…..
By K.M. LEE…..
Qantas cutting costs
SYDNEY: Qantas Airways plans to scale back flights and cut management jobs to help offset soaring fuel prices and an estimated A$140mil hit to its earnings from a string of natural disasters in key markets. …..
Tepco: Loans not sufficient
TOKYO: Tokyo Electric Power has secured US$24bil in bank loans but said that would not be enough to keep it running and pay for Japans worst nuclear disaster, adding to expectations that the government will step in to bail out the stricken company……
EU questions Greek S&P rating downgrade
BRUSSELS: The European Commission questioned Standard & Poors (S&P) latest downgrade of Greece, saying yesterday it did not share the rating agencys view and had concerns about how credit rating agencies functioned……
Equities bounce on optimism
LONDON: World stocks bounced back yesterday, driven by optimism about potential gains in the coming quarter and setting aside lingering concerns about Japans nuclear crisis and turmoil in the Arab world……