KL shares close mixed
The FTSE Bursa Malaysia (FBM) KLCI ended today’s trading at its historic high of 1,579.07 with most heavyweight countersposting gains on steady buying amid end-of-month window dressing and rising commodity prices. The overall market, however, continu…..
Short term rates to remain stable: BNM
Short-term rates are expected to remain stable today as Bank Negara will issue 12 tenders to absorb excess liquidityfrom the financial system today. The central bank estimated huge liquidity amounting to RM40.279 billion in the conventional system an…..
Lynas trading halted pending review update
Lynas Corp shares were halted in Sydney pending an update concerning the independent technical review of the company’s plant in Malaysia. — Bloomberg…..
US stocks rally after Greek vote
NEW YORK: US stocks rallied on Wednesday after the Greek parliament approved an unpopular austerity plan, warding off the risk of a sovereign default that could destabilise Europe’s financial system.The Dow Jones Industrial Average gained 72.73 point…..
FBM KLCI closes higher
The FTSE Bursa Malaysia KLCI (FBM KLCI) manages to crawl out of the red to close by 4.06 points higher to 1,579.07…..
Record-breaking RM6bil sukuk sold
PETALING JAYA: Malaysia successfully concluded the sale in two tranches totalling US$2bil (RM6.06bil) of sukuk wakala in the early hours of Wednesday in deals which saw a surprisingly high subscription rate given the uncertainties in the global credi…..
KL market at all-time high on positive news
PETALING JAYA: The FBM KLCI yesterday surpassed its all-time high of 1,574.49 on Jan 17, as investor sentiment was buoyed by Wall Streets sharp rise on Tuesday, which was reflective of the growing optimism for a potential viable solution to Greeces…..
Keep politics off affordable housing schemes
IT would appear that demand for super high-end homes is showing absolutely no sign of abating. YTL Land & Development issued a press release that its Grove at Lake Fields project in Sungai Besi, from a starting price of RM1.8mil, has been snapped up …..
Poor governance leads to award of non-existent US$5bil job
KUALA LUMPUR: There appeared to be little internal control or governance framework within Linear Corp Bhd, and it is this weak link that led to the supposed award of the US$5bil Kingdome Project in December 2009 and the setting up of Prime Savings an…..
Genting UK gets licence
PETALING JAYA: Genting Bhds British subsidiary, Genting UK, has been awarded a licence to operate a casino at the NEC in Birmingham, the BBC reported on Tuesday……
Norway’s BioProtein to invest RM$600m in Msia
WASHINGTON: Norwegian firm BioProtein Engineering AS plans to invest US$200mil (RM600mil) over three years to set up a plant in Malaysia producing high-protein feed for the aquaculture industry……
KNM aims for RM3.4bil in new orders
SERI KEMBANGAN: KNM Group Bhd, which has an order backlog of RM5.5bil, expects to secure at least 20% of the RM17bil worth of projects it is tendering, according to executive chairman/CEO Lee Swee Eng……
Eversendai wins new RM139mil Qatar job
PETALING JAYA: Eversendai Corp Bhd announced that it has secured a new contract in Qatar worth 165 million riyals (RM139mil), just one day before listing on Bursa Malaysia……
Govt briefing on Lynas today
PETALING JAYA: The Government will make an announcement today on Lynas Corp’s planned rare-earth refinery in Kuantan following a health and safety review by a panel of experts appointed by the IIAEA……
PLUS to make advance payment to shareholders
PETALING JAYA: The largest toll operator in the country, PLUS Expressways Bhd has declared an interim single-tier dividend of 15 sen per share amounting to RM750mil yesterday that could be considered an advance payment to its shareholders that are …..
TNB and other shareholders hope to clear the air in Integrax
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is working at ironing out its issues with the other shareholders of port operator Integrax Bhd, according to an official of the utility giant……
Sozo Globals dual listing may take a year
PETALING JAYA: The proposed secondary listing of China-based but locally-listed food manufacturer, Sozo Global Ltd, on the Singapore Exchange (SGX) could take six months to a year or more to materialise depending on market conditions……
Eita to issue 23 million new 50-sen shares under IPO exercise
PETALING JAYA: Electrical and electronic (E&E) components and equipment distributor Eita Resources Bhd is looking at issuing 23 million new shares of 50 sen each and have an offer for sale of 17 million existing shares of 50 sen each under its in…..
Satang-RMAF contract extended
PETALING JAYA: Satang Holding Bhd told Bursa Malaysia yesterday that the Defence Ministry had extended for two years the former subsidiary’s contract for the supply of non-proprietary spare parts, components and any related equipment for aircra…..
Formis says will consider adding Ho Hup stake
PETALING JAYA: Information technology services provider Formis Resources Bhd (FRB) may consider increasing its stake in Practice Note (PN) 17 firm, Ho Hup Construction Co Bhd, for the right price, said FRB chairman Tan Sri Megat Najmuddin Megat Khas…..
Maybank unit to buy ATR KimEng
PETALING JAYA: Kim Eng Holdings Ltd, a subsidiary of Malayan Banking Bhd (Maybank), is looking to buy 344.4 million shares, or a 32.24% stake, in securities broking, investment banking and corporate finance advisory firm ATR KimEng Financial Corp fro…..
BCorp Q4 net profit 28% lower
PETALING JAYA: Berjaya Corp Bhd’s (BCorp) net profit for its fourth quarter ended April 30 dropped by 27.9% to RM103.6mil against the same quarter last year due to the impairment in value of certain property, plant and equipment, loss on dispos…..
Jaycorp Q3 net profit down 67%
PETALING JAYA: Furniture manufacturer Jaycorp Bhd saw its third quarter ended April 30 net profit drop 67% to RM705,000 from RM2.11mil a year ago owing to a weak US dollar, higher production cost and sluggish economic conditions in its importing coun…..
Leader sees revenue from US$107mil Cambodia project
GEORGE TOWN: Leader Universal Holdings Bhd will be able to generate partial revenue from its US$107mil build-operate-own power transmission concession project in Cambodia in the third quarter of this year……
Merge Housing to go private
PETALING JAYA: Property developer Merge Housing Bhds chief and his two brothers are looking to take the company private, by offering to buy up all remaining shares not owned by them, or some 69.2 million shares, for RM45mil……
Badriyah is new Seda CEO?
PETALING JAYA: Badriyah Abdul Malek, Energy, Green Technology and Water Ministrys under secretary for sustainable energy is tipped to be the chief executive officer (CEO) of Sustainable Energy Development Authority (Seda)……
Three new directors for Green Rubber
KUALA LUMPUR: Green Rubber Global Ltd has appointed three board members, namely Kevin McCabe, Andres Pastrana and Khairy Jamaluddin……
Study on postal banks
SHAH ALAM: Bank Muamalat Malaysia Bhd (BMMB) is in talks with Pos Malaysia Bhd about a possible collaboration in setting up a postal bank network……
Asias eyes on IMF
SINGAPORE: Asias fast-rising economies set their sights on securing key International Monetary Fund (IMF) appointments under newly named chief Chistine Lagarde yesterday, hopeful she would be the one to make good on oft-heard pledges to swing more p…..
Nissans Ghosn is highest paid exec at a Japanese firm
YOKOHAMA: Nissan Motor Co chief executive Carlos Ghosn made 982 million yen (US$12.1mil) last year, likely making him the highest-paid executive at a Japanese company again, topping the 863 million yen earned by his Sony Corp counterpart, Howard Str…..
US stocks rise as Greece nears debt solution
NEW YORK (AP) Stocks closed higher for the third day in a row Wednesday after Greece cleared a hurdle toward getting more emergency loans. Financial stocks rose after Bank of America reached a settlement with investors over failed mortgage securiti…..
Oil rebound weakens effect of supply release
NEW YORK (AP) An attempt by the U.S. and other non-OPEC governments to sway oil and gasoline prices appears to have petered out in less than a week……
EU proposes US$1.48 trillion budget for 2014-2020
BRUSSELS (AP) The European Union on Wednesday proposed a budget worth 1.025 trillion (US$1.48 trillion) for the seven years between 2014 and 2020, up 5 percent from the previous budget period……
IMF urges US lawmakers to raise US$14.3tril debt limit
WASHINGTON (AP) The International Monetary Fund warned U.S. lawmakers Wednesday that a failure to raise America’s borrowing limit would pose serious risks to the global economy and financial markets……
Review: HP TouchPad’s tablet
SAN FRANCISCO (AP) A year after Hewlett-Packard Co. purchased flailing Palm, the technology behemoth is rolling out the first tablet that uses Palm’s webOS operating system……
Report: American Airlines to spend US$15bil to replace US fleet
FORT WORTH, Texas (AP) American Airlines is in talks with aircraft manufacturers Airbus and Boeing Co. to purchase at least 250 aircraft in a deal valued at about US$15 billion, The Wall Street Journal said……
Obama pushes Republicans on taxes on wealthy
WASHINGTON (AP) President Barack Obama insisted on eliminating tax breaks for oil companies and the superrich as part of any plan to tackle the nation’s deficit, casting himself as a voice of reason. Unfazed, Republican lawmakers stuck to their vow…..
Amazon to cut off California-based Web affiliates
SAN FRANCISCO (AP) Amazon.com Inc. said Wednesday that it will stop working with online affiliates based in California since the state passed a new rule that forces online retailers to collect sales tax there……
Greece passes steep cuts as riots seize capital
ATHENS, Greece (AP) Greece fended off a bankruptcy that threatened to roil global financial markets, approving severe spending cuts and tax increases Wednesday in the face of violent protests by Greeks who say they have suffered enough……
TMX Group kills merger with London Stock Exchange
TORONTO (AP) The operators of the Toronto and London stock exchanges have killed a $3.8-billion proposed merger, saying the controversial deal could not garner enough shareholder support to go ahead……
Monsanto posts US$680 million profit in 3rd quarter
ST. LOUIS (AP) Monsanto Co. says higher sales of genetically engineered seeds helped it boost its third-quarter profit 77 percent, as the company disclosed federal regulators have subpoenaed the company as part of an investigation into its herbicid…..
Libya’s new energy minister: Output at 20K barrels
TRIPOLI, Libya (AP) Libya’s newly appointed energy minister says the country is now producing just 20,000 barrels of oil per day, a fraction of prewar output……
News Corp sells MySpace for US$35M mostly in stock
LOS ANGELES (AP) News Corp. has sold struggling social networking site MySpace for US$35 million, mostly in stock, according to a person familiar with the matter. The deal values MySpace at a fraction of what News Corp. paid for the site six years …..