MAS to issue RM2.5b sukuk, 10-yr tenure
Malaysian Airline System Bhd (MAS) plans to undertake a RM2.5bil Sukuk programme to shore up its capital base and the tenure would be for 10 years under a three-pronged funding programme……
MAS Q1 losses shrink to RM171m from RM242m year ago
Malaysian Airline System Bhd’s (MAS) net losses in the first quarter ended March 31, 2012 were lower at RM171mil compared with the RM242mil a year ago……
Unisem chairman says worst is over, sees strong growth ahead
Unisem (M) Bhd expects to record double-digit growth this year after its poor performance last year, as it focuses on tier-one clients and the China market……
Felda Global to kick-start book-building from May 31
KUALA LUMPUR (Reuters): The book-building process of Malaysia’s Felda Global Ventures Holdings’ over US$3 billion listing will begin on May 31 and end on June 15, a source with direct knowledge of the deal told Reuters on Tuesday……
Petrofac secures US$220m contract from Petronas Carigali
Petrofac Group has secured a US$220mil contract from Petronas Carigali Sdn Bhd to refurbish the Bekok-C platform in Block PM9 in the south-eastern part of the Malay basin……
OECD sees euro crisis threatening world recovery
PARIS (Reuters): The United States and Japan are leading a fragile economic recovery among developed countries that could yet be blown off course if the euro zone fails to contain its flaring growth crisis, the OECD said on Tuesday……
RAM Ratings expects Tan Chong Motors’ performance to improve
RAM Rating Services Bhd expects Tan Chong Motor Holdings Bhd’s (TCMH) performance to improve in 2012, underpinned by the introduction of several models……
GLOBAL MARKETS-Shares gain on hopes of action over EU crisis
LONDON (Reuters): European shares joined a global rally in riskier assets on Tuesday and German bond prices fell as hopes grew that European leaders would agree on fresh action to tackle the debt crisis while promoting growth……
UAC hits limit-up on Boustead privatisation offer
Shares of UAC Bhd hit limit-up to RM3.66 on Tuesday afternoon after Boustead Holdings Bhd’s privatisation offer at RM4.30 per share……
SCORE attracts RM24.6b investments from 17 projects
KUCHING (Bernama): The Sarawak Corridor Renewable Energy (SCORE) has secured ivestments totalling RM24.63bil from 17 projects which are expected to create more than 14,000 employment opportunities……
REDTone, MIMOS plan WiFi access solution, ISP
REDtone International Bhd’s subsidiary is collaborating with MIMOS Bhd to provide WiFi access solutions and also the Intelligent Surveillance Platform (ISP)……
Axiata Q1 net profit, excluding forex translation, up 19% to RM652m
Axiata Group Bhd’s net profit excluding foreign translation rose 19% to RM652mil in the first quarter ended March 31, 2012 while regional mobile subscribers grew 24% on-year to over 200 million making the group one of the largest telcos in the region…..
Markets firmer, CIMB, DiGi buoy KLCI
Key Asian markets held on to their gains at midday on Tuesday, notching gains of more than 1% as investors pinned their hopes that China and Europe would implement measures to strengthen economic growth……
Harvest Court shareholders approve RM808m construction venture
Harvest Court Industries Bhd’s shareholders have approved the company’s plan to diversify from the timber product business into the construction sector……
Malaysia-Australia FTA to come into force January 2013
The Malaysia-Australia Free Trade Agreement (FTA), which was signed on Tuesday, will come into force on Jan 1, 2013. …..
AHB slips on proposed share capital reduction
Shares of AHB Holdings Bhd were among the major losers in late morning on Tuesday after the company proposed to reduce the issued and paid-up share capital……
SapuraKencana Petroleum snaps 3-day of losses
Shares of SapuraKencana Petroleum Bhd snapped their three days of losses since last Thursday’s listing with the share price advancing in line with the firmer markets on Tuesday……
Markets extend gains on value hunt, hopes for EU summit
TOKYO (Reuters): Markets extended gains on Tuesday with investors hunting for bargains after prices reclaimed some groud off 2012 lows, as hopes grew that Europe would embark on fresh action to tackle its debt crisis while promoting growth……
Kenanga Research maintains Scomi Marine FV at 66.5 sen
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Consumer stocks top gainers
Consumer stocks and high dividend counters were among the top gainers in mid-morning trade on Tuesday but in thin volume while the FBM KLCI extended its gains, in line with the firmer regional markets……
RHB Research maintains Market Perform on Tan Chong
RHB Research Institute is maintaining its Market Perform call on Tan Chong Motor Holdings and sees few catalysts for the stock to be re-rated higher in the near-term. …..
HDBSVR: Underlying sentiment on Bursa to remain cautious
Hwang DBS Vickers Research (HDBSVR) said the technical rebound on Wall Street would probably lift the Malaysian bourse a bit more on Tuesday after its FBM KLCI posted a mild 6.5-point increase yesterday……
HDBSVR maintains Buy on TSH, RM2.75 target price
Hwang DBS Vickers Research (HDBSVR) is maintaining its Buy call on TSH Resources Bhd and a target price of RM2.75……
GLOBAL MARKETS-Markets extend gains on hopes for EU summit
TOKYO(Reuters): Markets kept gains on Tuesday after reclaiming some ground to move off lows for the year the day before, as hopes grew that Europe would embark on fresh action to address its debt crisis while promoting growth……
Facebook shares sink 11% in first day of trade as reality overtakes hype(update)
NEW YORK: Facebook shares sank 11 percent in the first day of trading without the full support of the company’s underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more establis…..
GLOBAL MARKETS-Stocks, oil rise as G8 leaders pledge growth
NEW YORK: Global stocks on Monday rebounded from lows for the year and oil prices rose for the first time in four sessions as world leaders emphasized support for growth in the euro zone, and China said priority should be given to maintaining its eco…..
EPF releases list of funds
KUALA LUMPUR: The Employees Provident Fund (EPF) has published the revised list of fund management institutions (FMI) and unit trust funds for 2012/2013 for the EPF members investment scheme (EPF-MIS)……
Tips on what to do during an interview for a job
Yippee! Youve finally landed an interview for your dream job at your dream workplace. Youve done everything humanly possible to prepare for the big interview updated resume, researched the company, dry-cleaned your lucky interview clothes, spent …..
MMC-Gamuda JV denies will claim RM1.5bil from Govt
PETALING JAYA: MMC-Gamuda Joint Venture Sdn Bhd has denied claims that it may be seeking a variation order amounting to RM1.5bil from the Government due to cost overruns in the RM12.5bil Ipoh-Padang Besar electrified double track project (EDTP), said…..
Malaysia’s venture capital industry poised to bounce back
KUALA LUMPUR: Malaysias venture capital industry is expected to reverse its declining trend this year, as it is looking at about 25% growth by the year-end from the current RM5.4bil of total assets under management……
Malaysia’s eight golden years to come
KUALA LUMPUR: The period from now till 2020 will be Malaysias eight golden years as close to RM1 trillion of gross national income is expected to be created, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah……
RSPO pushing for certification of smallholders in Malaysia and Indonesia
EARLY this month, the Roundtable on Sustainable Palm Oil (RSPO) said in a statement that Indonesia had overtaken Malaysia as the worlds largest certified sustainable palm oil (CSPO) producer……
Salcon mulls expansion through M&As
SUBANG JAYA: Salcon Bhd is looking at mergers and acquisitions (M&A) to grow itself in a bid to fast track its listing plan for its China water and waste water concessions within the next two years……
MTD awarded RM500mil MRT viaduct project
PETALING JAYA: MTD ACPI Engineering Bhd’s wholly owned subsidiary MTD Construction Sdn Bhd has received a letter of award worth RM499.98mil from Mass Rapid Transit Corp Sdn Bhd……
TAS secures RM98mil contract
KUCHING: TAS Offshore Bhd has secured a major contract to sell two vessels for RM98mil to a Middle-East client……
Latin America outlook seen attractive
KUALA LUMPUR: Latin America continues to be an attractive market to many foreign companies despite the sluggish global economy, said International Trade and Industry Deputy Minister Datuk Mukhriz Tun Dr Mahathir……
Hard disk makers see turnaround
GEORGE TOWN: Hard disk drive (HDD) component manufacturers in the country expect a healthy year for the industry in 2012, after the industry was badly hit late last year by floods in Thailand……
GK Goh founder buys into E&O
PETALING JAYA: Singapore-based GKG Investment Holdings Pte Ltd has emerged as a substantial shareholderin niche property developer Eastern & Oriental Bhd (E&O) following acquisitions of shares in the company on the open market last week……
Brahim’s proposes to buy 49% in F&B company
PETALING JAYA: Brahim’s Holdings Bhd has proposed to acquire a 49% stake, or 490,000 shares, in Brahim’s-LSG Sky Chefs Holdings Sdn Bhd (BLH) for RM130mil cash……
FBM KLCI rebounds in tandem with Asian markets
PETALING JAYA: The Malaysian stock market rebounded in tandem with most Asian bourses, after suffering some steep declines last week……
Masterskill could pay out some IPO proceeds
PETALING JAYA: Masterskill Education Group Bhds announcement that it is delaying plans to build its flagship campus is in line with speculation that the company may consider returning some of the proceeds from its 2010 listing to shareholders……
I-Bhd to reap i-City reward
I-Bhd, the master developer of i-City, is now ready to reap the fruits of its labour as most of the major infrastructure works at i-City in Shah Alam have been completed……
Increased reliance on bond markets for financing
KUALA LUMPUR: Corporations have increased their issuance of debt papers of late with reasons for doing so varying from refinancing existing bonds to raising capital for future expansion……
Proposal to privatise UAC
PETALING JAYA: Boustead Holdings Bhd has proposed to privatise its 65.21% subsidiary UAC Bhd at RM4.30 per share, which is 49.9% above the latters five-day volume weighted average market price of RM2.87 on May 18……
Corporate Results In Brief
KUALA LUMPUR: Corporate results in brief…..
Formula One to start pre-marketing Spore IPO
HONG KONG: Motor racing business Formula One will start pre-marketing for its up to US$3bil Singapore initial public offering (IPO) today after receiving approval from the citys stock exchange for the deal, a source said……
Crucial week for Facebook
NEW YORK: Newly issued shares in Facebook Inc may have a hard time in the coming week if lead underwriter Morgan Stanley stops supporting the stock and managers lower down in the initial public offering (IPO) book who were hoping for an early surge d…..
China opens vast rail system to investors
BEIJING: Chinas railway industry will open to private investment on an unprecedented scale, according to a document issued this weekend by the Ministry of Railways, which is struggling with mounting debts and a corruption scandal while attempting to…..
Alibaba buys back 20% stake in Yahoo
SHANGHAI: Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40% stake in his Alibaba Group from Yahoo Inc for US$7.1bil, in a deal that moves the Chinese e-commerce leader closer to a public listing. …..
Wanda buys AMC for US$2.6bil
BEIJING: Chinese conglomerate Dalian Wanda Group agreed to buy AMC Entertainment for US$2.6bil, including debt, making it the biggest theatre operator in the United States. …..
Operational efficiencies to balance forex losses for Axiata Q1 results
PETALING JAYA: With Axiata Group Bhd set to release its first quarter results to March 31, 2012 today, analysts are expecting flattish growth due to the depreciation of currencies in the countries that it operates, but supported by a rebound in its o…..
Tan Chong Q1 profit falls 57%
PETALING JAYA: Tan Chong Motor Holdings Bhds net profit for its first quarter ended March 31, 2012 fell 57% to RM31.67mil from RM74.08mil in the previous corresponding period due to stock constraints in popular models……
Xingquan’s seasonal sales fare better this year
PETALING JAYA: Xingquan International Sports Holdings Ltd recorded a 4.6% rise in sales orders to 826 million renminbi (RM400mil) at its recent Autumn/Winter 2012 Sales Fair in China compared with orders received at the same event last year……
Petronas Dagangan posts RM246mil net profit
PETALING JAYA: Petronas Dagangan Bhd registered RM246.21mil in net profit for the three months ended March 31, 2012. Revenue posted was RM6.85bil on the back of higher average product selling prices and higher sales volume……
James Hardie Q4 profit falls on higher fixed costs
SYDNEY: Australia’s James Hardie Industries Ltd posted a 4% fall in fourth-quarter operating profit as higher fixed costs outweighed an improvement in its US and European businesses……
Ryanair sees 20% fall in profit
DUBLIN: Ryanair, Europes biggest budget airline, warned high fuel costs and a worsening economic outlook in Europe meant profit would slip by up to 20% in the coming year, the first fall in four years. …..
Campbell profit beats forecast
NEW YORK: Campbell Soup Co reported better-than-expected quarterly earnings yesterday but left its full-year forecast unchanged as it continues trying to turn around its North American soup business. Net income was US$177mil for the fiscal third quar…..
L&G unit gets RM7.8mil aid
PETALING JAYA: Land & General Bhd (L&G) is providing up to A$2.5mil (RM7.8mil) to its 50%-owned subsidiary Hidden Valley Australia Pty Ltd (HVA) within the next 12 months as financial assistance for a proposed retirement estate project in Melbourne……
Mah Sing to build township
PETALING JAYA: Mah Sing Group Bhd plans to undertake the building of a mixed township near Bangi, Selangor, after acquiring 412 acres there……
MAS only to pay caterer what it takes for in-flight services
PETALING JAYA: Malaysia Airlines (MAS) is said to have re-negotiated its catering contract after nine yearswhere it will no longer pay a guaranteed monthly amount for catering services and only for what it takes from LSG Sky Chefs-Brahims Sdn Bhd (L…..
Thai Q1 growth surges after floods
BANGKOK: Thailands economy grew a record 11% in the first quarter from the previous three months, rebounding from last years severe flooding, and strong full-year growth is expected due to a jump in consumption and investment after the disaster……
Fat pay rise for German workers
BERLIN: A record-breaking pay deal will give millions of German workers their biggest rise in wages in two decades, boost consumption in Europes biggest economy and help towards adjusting the regional imbalances that have caused severe tensions with…..
Britons finances squeezed in May
LONDON: Britons household finances worsened at their fastest rate in four months in May as some mortgage holders grappled with higher repayments, while worries about jobs and rising living costs also increased, a survey showed……
Chinese buyers default on coal shipments
SHANGHAI: Chinese traders have defaulted on some thermal coal contracts following a drop in prices over the past month, according to traders, providing more evidence that a slowdown in the worlds second-largest economy is hitting the appetite for co…..
Rupee yet to hit bottom
MUMBAI: The rupee fell below the key psychological level of 55 to hit a new record low yesterday, setting up the prospect of further falls unless the central bank takes measures or intervenes more aggressively, traders said. …..
Spain confident of deficit goal
MADRID: Spain says it will meet its deficit targets this year despite a new slippage in its regions accounts and a further contraction of the economy in the second quarter. …..
Australia’s Qantas to split business into two
SYDNEY, May 22 (Reuters) – Qantas Airways, said it plans to split its loss-making international and profitable domestic businesses, though Australia’s top airline was viewed by analysts as unlikely to spin off or sell the international operations……
Nasdaq seen struggling with aftermath of Facebook IPO
NEW YORK (Reuters) – Nasdaq OMX faces short-term costs from its botched handling of Facebook shares on their first day of trading but the longer term repercussions could be more expensive as it struggles to restore its image……
MF Global paid Corzine US$8mil in year before collapse
NEW YORK (Reuters) – Former MF Global Holdings Ltd chief Jon Corzine received more than US$8 million in pay and stock options from the futures brokerage in the year before it went bankrupt……
Tough NZ budget, no spending rise, targets 2015 surplus
WELLINGTON, May 22 (Reuters) – New Zealand is set to deliver its toughest budget in 20 years this week, promising no spending increase in a struggling economy and a lower tax take, as the government strives to return to surplus by 2015……
G8 steps up plans to aid Arab Spring economies
WASHINGTON (Reuters) – Industrialized nations have stepped up plans to help countries swept up in the Arab Spring rebuild their economies through more access to international credit markets, investment and trade, a senior State Department official sa…..
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