Malaysia Airports mulls bidding for China, Indonesia, Philippines projects
BEIJING: Malaysia Airports Holdings is looking to bid for new airport projects in Indonesia, China, and the Philippines, its chief executive said on Monday……
Palm gains on Spain bank rescue; data in focus
Malaysian palm oil futures rose on Monday after euro zone finance ministers agreed on a rescue package for Spain’s struggling banks, temporarily easing concerns that the ongoing crisis could slow the global economy and hurt commodity demand……
KLCI climbs to 7-day high, regional markets rally
Tenaga and Genting helped push the FBM KLCI to a seven-day high on Monday as investors were relieved that euro zone finance ministers agreed to lend Spain up to US$125bil to strengthen its struggling banks……
Manufacturing boosts April industrial output 3.2% on-year
Malaysia’s industrial production index (IPI) rose 3.2% in April from a year ago, boosted by the manufacturing and electricity sectors……
Spain bank deal may not work, bolder reforms needed: Stiglitz
NEW YORK: Europe’s plan to lend money to Spain to heal some of its banks may not work because the government and the country’s lenders will in effect be propping each other up, Nobel Prize-winning economist Joseph Stiglitz said……
Octagon’s share price falls sharply
Octagon Consolidated Bhd’s share price fell sharply on Monday after it was declared an affected listed when it defaulted on the credit facility extended by Amanah Raya Capital Sdn Bhd……
GLOBAL MARKETS-Shares, euro jump as EU aids Spanish banks
TOKYO: Shares, commodities and the battered euro jumped on Monday after euro zone finance ministers agreed to lend Spain up to $125 billion to shore up its struggling banks, relieving markets that had feared for the country’s fiscal collapse……
Yinson inks RM2.35b contract with Petrovietnam
Yinson Holdings Bhd has sealed a US$737.30mil (RM2.35bil) agreement with Petrovietnam Technical Services Corporation to provide a floating production, storage and off-loading (FPSO) unit……
Gas Malaysia, Spain rescue plan power up blue chips
The listing of Gas Malaysia and the 100bil euros fund support for Spain helped power blue chips higher in early trade on Monday……
Kenanga Research starts coverage of Crest Builder, TP RM1.49
Kenanga Investment Bank Research initiated coverage of Crest Builder Holdings with an Outperform call and a target price of RM1.49, which provides a total return of 48%……
Gas Malaysia ends first day at RM2.42
Gas Malaysia Bhd ended its first trading day on Monday at RM2.42, which was a premium of 22 sen above its offer price of RM2.20……
HDBSVR sees short-term boost for Asian equities
Hwang DBS Vickers Research (HDBSVR) is expecting a short-term boost in Asian equities on Monday after the Eurozone granted Spain access to a 100b Euros fund to shore up its banking system over the weekend……
RHB Research keeps Gamuda at market perform, FV RM3.78
RHB Research Institute expects Gamuda’s nine-months’ core net profit to come in at RM355mil to RM365mil that will have met its forecast but trailed the market expectations……
What is MAS’s intrinsic value?
PETALING JAYA: While the share-swap agreement between Malaysia Airlines (MAS) and AirAsia Bhd may have been unwound, there is still the likelihood that a controlling interest in the national flag carrier could be sold in the future due to the ongoing…..
Home prices in suburban Klang Valley expected to hold steady
KUALA LUMPUR: Property prices in suburban areas in the Klang Valley may be stable in the next two years, as there would be a lot of supply to cater to the demand……
KL land price too high?
KUALA LUMPUR: The three parcels of freehold land along Jalan Bukit Ceylon, Kuala Lumpur that was recently put up for sale are priced on the high side, property professionals said……
iPhone maker Apple will spotlight next-generation software today
SAN FRANCISCO: Apple will spotlight next-generation software today for its coveted gadgets as it kicks off its annual gathering of developers whose applications are vital to the companys success……
Spanish firms to invest RM4.8bil in M’sia
PETALING JAYA: Spanish companies have committed to invest some US$1.5bil (RM4.8bil) in Malaysia over the next few years, said Spanish Embassy commercial councillor Luis Lopez……
Bursa Malaysia to trend lower this week on global economic uncertainty(update)
KUALA LUMPUR: UNCERTAINTIES in the global economy are expected to drag the FTSE Bursa Malaysia KLCI (FBM KLCI) lower this week……
Naim turning old Bintulu airport site into integrated upmarket project with RM2bil GDV
KUCHING: Naim Holdings Bhd will develop the site of the old Bintulu airport into an integrated upmarket commercial and residential project……
US$500mil smelting plant gets nod for EIA
KUCHING: OM Materials (Sarawak) Sdn Bhd (OM Sarawak) has obtained detailed environmental impact assessment (DEIA) approval for its US$500mil joint-venture manganese and ferro alloy smelting plant project in Samalaju Industrial Park, Bintulu……
CREST Centre to receive RM800mil for R&D
GEORGE TOWN: The Collaborative Research in Engineering, Science and Technology (CREST) Centre will receive RM800 mil for research and development (R&D) projects in the electrical and electronics (E&E) sector over the next 10 years……
FasTrack to address Malaysias talent needs
GEORGE TOWN: The second phase of FasTrack, a public-private talent development initiative under the Collaborative Research in Engineering, Science and Technology (CREST) Centre, will see the participation of 120 apprentices……
Takaful Malaysia to open four more myCare Centres
SHAH ALAM: Syarikat Takaful Malaysia Bhd will open four more Takaful myCare Centres in Putrajaya, Malacca, Sungai Petani and Temerloh this year……
Same incentives for local and foreign firms
GEORGE TOWN: The Government is likely to provide similar incentives for both local and foreign companies in the upcoming budget 2013……
CIMB set to host forum on Asean integration
KUALA LUMPUR: CIMB Group will host what is expected to be the largest gathering of large-cap Asean corporates here on Wednesday and Thursday……
ETP seen boosting banking sector
WCT has been awarded by Vale piling/foundation and other civil works worth RM72.8mil for the Malaysia Minerals Project in Teluk Rubiah, Perak……
Bonus/Rights Issues
Bonus/Rights Issues…..
Wall Street to get a lift
NEW YORK: US stocks will get a lift today after eurozone finance ministers agreed to lend Spain up to 100 billion euros (US$125bil) to help its battered banks……
Tokyo stocks likely to stay under pressure this week
TOKYO: Japanese stocks are likely to stay under pressure this week as investors await the outcome of the June 17 Greek election, analysts said Friday……
Yinson’s earnings from oil and gas set to quadruple to 85% of its profit
PETALING JAYA: Last week, reports and rumours were swirling that oil and gas provider Yinson Holdings Bhd, together with its Vietnam partner PetroVietnam Technical Services Corp (PTSC), were extremely close to securing a US$500mil (RM1.6bil) job fr…..
SMEs advised to be more inspired
PETALING JAYA: Small and medium enterprises (SMEs) need to manage their businesses with a bit more inspiration if they want to distinguish themselves from their competitors……
Budget 2013 focus group to meet soon
IPOH: The first focus group on the 2013 Budget will meet on Wednesday to discuss 16 topics including macroeconomic, sectoral and social issues, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said……
CPO likely to remain bearish this week
KUALA LUMPUR: Crude palm oil (CPO) futures are likely to remain bearish this week in the absence of positive factors……
Rubber prices are likely to ease this week
KUALA LUMPUR: Malaysian rubber prices are likely to ease this week as players are expected to stay on the sidelines in anticipation prices falling further……
KLTM likely to improve this week
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) is likely to improve this week as demand begins to return to the market……
Education a necessity in insurance
PETALING JAYA: A lot more can be done to educate the public about the benefits of having life insurance, said Life Insurance Association of Malaysia (LIAM) chief executive officer Vincent Kwo Shih Kang……
China May surplus at US$18.7bil
BEIJING: Chinas May trade data beat gloomy market expectations, figures from the customs administration showed, with crude oil imports surging and US demand for Chinese exports offsetting lacklustre shipments to Europe……
Report: Europe working on new eurozone bond plan
BERLIN: Leaders of European institutions are working on a comprehensive plan to rescue the euro that would include the issuance of joint euro bonds, a move Germany has repeatedly rejected, Der Spiegel reported. &n…..
Brazil central bank chief sees growth accelerating
PORTO ALEGRE, Brazil: Stimulus measures enacted by policymakers in recent months should soon lead to a pickup in growth, breathing some life into Brazil after three straight quarters of stagnation, said central bank president……
Experts: Vietnam banking reform in trouble
HO CHI MINH CITY: Vietnams drive to restructure its troubled banking sector is being derailed by powerful interest groups as the political will needed to force through painful reforms falters, experts say……
Summer sale on in global jet industry
BEIJING: A summer battle for orders is under way in the global jet industry, which gathered in Beijing for the first of two crucial events in two months, pitting the worlds largest planemakers against each other in a race for deals worth US$50bil at…..
Goldman Sachs nears hedge fund admin unit deal
LONDON: Goldman Sachs is close to signing a deal to sell its hedge fund administration business to U.S. bank State Street Corp, the Financial Times reported in its Monday edition……
River basins critical for emerging markets
LONDON: Poor management of water resources could stifle economic growth in some of the world’s most rapidly developing economies, according to research commissioned by banking group HSBC……
IATA: profit forecast for global airlines at US$3bil
BEIJING: Global airlines braced on Monday for Europe’s debt crisis to worsen during the year, warning it would wipe out the benefit to the industry of cheaper fuel prices……
China Eastern to cut debt ratio by end-2015
BEIJING: China Eastern Airlines, one of China’s top three carriers, aims to cut its debt-to-assets ratio to below 70 percent by the end of 2015 from its current 81 percent, its chairman said on Monday, amid a new round of capital injections by the go…..
Tesco’s UK sales fall as recovery plan struggles
LONDON: Tesco, the world’s third-biggest retailer, has seen a drop in quarterly underlying sales in its main British market, it reported on Monday, showing its recovery plan following a shock profit warning in January is taking time to gain traction……
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