Services sector make up 89% of companies
Some 89.2% of the total 662,939 establishments undertaking business activities in the country in 2010 were in the services sector, the Economic Census Report 2011 has revealed……
Bernas sets aside RM250m for acquisitions, capex
Padiberas Nasional Bhd (Bernas) has allocated RM250mil for acquisitions and capital expenditure (capex) as part of its expansion plan this year, its managing director Datuk Bakry Hamzah said……
Luster sees 76m shares transacted off-market
Luster Industries Bhd saw 76.139 million of its shares transacted in several off-market deals on Monday……
S P Setia sees 45.19m shares crossed off-market
Property developer S P Setia saw 45.198 million of its shares or 2.3% of its paid-up transacted in an off-market deal on Monday……
Equities, euro spooked by Europe worries
LONDON: European shares and the euro fell on Monday as persistent fears about Europe’s debt crisis and fresh concerns about global economic growth soured investors’ appetite for risk……
REIT market cap to grow 30% to RM30b this yr
Market capitalisation for Real Estate Investment Trust (REIT) in Malaysia is expected to grow by 30% to RM20bil this year from RM15bil last year, an industry player said……
Asian currencies dip on EU fears, rupee rises on relief
Most Asian currencies fell on Monday, with market players reluctant to take on risk amid doubts that a European summit later this week will produce any concrete measures to stem the euro zone’s sovereign debt crisis……
Apex hits limit-up, prompts Bursa Securities query
Apex Equity Holdings’ share price hit limit-up on Monday, prompting Bursa Malaysia Securities to query the company……
Petronas Dagangan plans RM200mil capex to nurture recent acquisitions
Petronas Dagangan Bhd plans to invest RM200mil to nurture its recent acquisitions of six downstream companies……
ManagePay Systems-BPost JV for Malaysian traders to sell to Eurozone
E-commerce and payment services provider ManagePay Systems Bhd is teaming up with Belgium’s BPost International to provide an integrated platform for Malaysian traders to sell to the Eurozone……
KLCI eases after rallying to historic intra-day high of 1,611
The FBM KLCI hit an all time intra-day high of 1,611.50 on Monday morning but the lack of strong follow-through buying, coupled with the weaker regional markets saw the index easing off by midday……
Samsung expects Galaxy S III sales to top 10 million during July
SEOUL: Samsung Electronics Co, the world’s biggest smartphone maker, expects cumulative sales of its latest smartphone Galaxy S III to top 10 million units during July, JK Shin, head of its telecommunications business, said on Monday……
Kelington expects Puritec to contribute to earnings by Q3
Kelington Group Bhd expects its newly-acquired Puritec Technologies (S) Pte Ltd, which designs and installs delivery systems for exhausts, to contribute to the group’s earnings by the third quarter of this year……
CIMB keeps MRCB a trading buy, ups FV to RM2.02
CIMB Equities Research has raised the fair value for Malaysian Resources Corp Bhd (MRCB) from RM1.90 to RM2.02 on a report it is the frontrunner for a prime piece of land in Bangsar……
Luster, warrants slip after recent rally
Luster Industries Bhd’s share price slipped on Monday in active trade on some mild profit taking after the recent rally and heavy trading which prompted a query from Bursa Malaysia Securities last week……
KLCI hits all-time intra-day high of 1,610
The FBM KLCI hit an all-time intra-day high of 1.610.01 at 9.21am on Monday, as buying perked up after the initial hesitation……
Echo, in which Genting has a share, reaches deal with US bond holders
MELBOURNE: Australian casino group Echo Entertainment has agreed to modified terms with its U.S. bond holders, which will allow it to use the proceeds of its A$454 million ($454 million) sale of shares to pay down debt……
KLCI down in early trade, Petronas stocks weigh
Blue chips started the week on Monday on a lacklustre note, with the FBM KLCI in the red, with Petronas Dagangan and Petronas Gas the top decliners but with just 100 shares traded for each counter……
HDBSVR sees KLCI temporarily overshooting on upside
As the FBM KLCI closes in on its all-time peak of 1,609.33, recorded on April 3, Hwang DBS Vickers Research believes the 30-stock index may temporarily overshoot on the upside……
M’sian market resilient despite uncertain outlook on local and foreign fronts
PETALING JAYA: Speculation over when the countrys 13th general election will be held, the impending listing of politically connected stocks together with a volatile external front continue to influence stock market performance……
Asian shares ease as growth fears persist
Asian shares mostly slipped on Monday and the safe-haven dollar rose as concerns about faltering global growth and Europe’s intractable debt crisis continued to sap investor confidence, but Japanese stocks were supported by a weaker yen……
Plan to prevent stolen mobile phones from being used
PETALING JAYA: A move to set up an independent clearing house that will blacklist stolen handsets and bar them for being used again has drawn the ire of some operators who are not pleased with the service fee they may be mandated to pay……
Maybank Research downgrades BIMB to Sell
Maybank Kim Eng Investment Research said much as it continues to view Bank Islam’s and Syarikat Takaful’s (RM6.12, Not Rated) prospects positively, the recent run-up in BIMBs share price is cause to pause and take stock. …..
Competition heats up among telcos in IDD segment
PETALING JAYA: After fighting a price war in the prepaid arena, players in the telecommunication sector seem to be in a mood for another battle in the international direct dialling (IDD) segment……
HDBSVR maintains Buy on Dialog, TP RM2.95
Hwang DBS Vickers Research (HDBSVR) is optimistic about Dialog Group’s long-term prospects, as its tank terminal capacity will almost triple to 2.8 million cubic metres from one million cubic metres within three years. …..
Consumer banking business set to expand
KUALA LUMPUR: Malayan Banking Bhd (Maybank) is seeing growth in its consumer banking business, the top revenue earner for the group, despite numerous measures to cool the sector……
Malaysian stocks to be resilient and trend higher this week
SHARE prices on Bursa Malaysia are set to be resilient and trend higher this week, riding on its status as a safe haven market during volatile times and defensive foreign funds rotation……
Wah Seong a major oil and gas player in the making
BY outbidding other contenders for a substantial stake in Petra Energy Bhd, pipe-coating specialist Wah Seong Corp Bhd is set to emerge as the second-largest shareholder in the integrated oil and gas (O&G) brown field services provider once the deal …..
Measat to launch three satellites in next two years
SINGAPORE: Measat Satellite Systems Sdn Bhd (Measat) plans to launch three satellites in the next two years to provide customers with innovative and “best-in-class” satellite solutions……
Massive dredging at Samalaju Port
KUCHING: The new Samalaju Port project in Bintulu will involve massive dredging and reclamation works worth RM193.9mil as part of plans to expand port facilities……
MBSB to grow Cheeky Savings Club accounts
KUALA LUMPUR: Financial services provider Malaysia Building Society Bhd (MBSB) intends to grow its Cheeky Savings Club to 50,000 accounts by the year-end from 16,000 currently……
CIMB retains more than half of RBS Asia-Pacific staff
KUALA LUMPUR: CIMB Group Holdings Bhd said it retained 331 out of about 600 Royal Bank of Scotland Group plc’s (RBS) staff in Asia-Pacific after buying most of its cash equities and investment banking operations in the region……
Maximising returns from cash a top priority
KUALA LUMPUR: The current economic uncertainty is putting companies under great pressure to look for ways to maximise returns from cash and handle their working capital more effectively……
Mega Islamic bank will set benchmark
IPOH: The setting up of mega Islamic banks in Malaysia will not merely serve the needs of the domestic economy but also position the country as the benchmark in Islamic global finance, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah……
MAS will need cash to turn around
KUALA LUMPUR: The question many people ask now is whether Malaysia Airlines (MAS) can undertake a turnaround within its targeted timeframe, and the options available to ensure the national carrier continues to fly without having to contend with a fin…..
Independent directors: Nine-year cap sensible?
THE Malaysian Code on Corporate Governance 2012 (MCCG 2012) published in March stipulates that directors are deemed to cease being independent once they have been on a board for nine years. This brings Malaysia in line with other jurisdictions like t…..
Sabah expects more investments
KOTA KINABALU: Sabah Chief Minister Datuk Seri Musa Aman expects more investors to come to the state this year and this will help boost its economy……
Optimism over Battersea land in UK
SP Setias stock is not given an outperform call, due to the property sectors sensitivity to election risks. Potential re-rating catalysts include the finalisation of the Battersea land acquisition in the United Kingdom, strong new sales and record …..
Bonus/Rights Issues
Bonus/Rights Issues…..
Europe and economic outlook take centrestage at Wall Street
NEW YORK: Wall Street navigated some potent obstacles last week, like Greeces elections and the Federal Reserves slashing of its US economic growth forecasts, but the drama is not over……
Tokyo shares may rise again this week
JAPANESE shares may rise again this week on the back of a weakening yen and hopes that a key EU summit will see further progress on Europes financial crisis, analysts said Friday……
SP Setia sees RM500mil revenue from Penang
GEORGE TOWN: SP Setia Bhd is projecting its Penang properties would generate about 15% or about RM500mil of the companys 2012 revenue, expected to be about RM4bil……
CPO expected to be bullish this week
KUALA LUMPUR: The crude palm oil (CPO) futures market is expected to be bullish this week amid a gloomy global economic scenario……
Rubber market likely to be quiet this week
KUALA LUMPUR: The Malaysian rubber market is likely to be quiet this week as sentiment is still weak following the current downtrend on regional markets, dealers said……
KLTM seen to be steadier this week
KUALA LUMPUR: The tin price on the Kuala Lumpur Tin Market (KLTM) is expected to be steadier this week backed by strong demand for the commodity, dealers said……
Rain puts a damper on Q1 Aussie gold output
SYDNEY: Australian gold production dropped by three tonnes to 62 tonnes in the first quarter versus the fourth quarter of last year, hindered by heavy rains at some mines, an industry survey showed……
Merkin settles Madoff-related lawsuit with US$410mil New York
NEW YORK: Money manager Ezra Merkin has agreed to pay US$410 million to settle a lawsuit brought by New York state that accused Merkin of secretly steering client money to Ponzi schemer Bernard Madoff, according to New York Attorney General Eric Schn…..
Britons’ gloom about future finances eases
LONDON: Britons’ pessimism about their future finances eased in June to signal the least downbeat outlook in more than two years as inflation slowed, lending support to policymakers’ hopes that hardy consumers will keep the recession-hit economy aflo…..
Pre-summit document presses EU banking union
BRUSSELS: European leaders will discuss specific steps towards a cross-border banking union, closer fiscal integration and the possibility of a debt redemption fund at a summit on June 28-29, according to a document prepared for the meeting……
Morgan Stanley’s German head offers resignation
FRANKFURT: The head of Morgan Stanley’s German unit has offered to step down following an uproar over emails he reportedly exchanged with a regional politician, and the bank has not yet decided whether to accept his resignation, according to two peop…..
Analysis: India poised to revive retail reform plan
NEW DELHI: Indian Prime Minister Manmohan Singh was overseas and his outgoing finance minister was clearing his desk last week as the government quietly began preparing the ground for a new push to open up India’s $450 billion retail sector to foreig…..
Japan Inc’s ritual hiring past sell-by date
TOKYO: Each April, hundreds of new graduates report for work in Japan’s corporate world, all on the same day, all dressed in standard business black, and all ready to be molded into staunch company loyalists……
Asia’s investment banks launch round of job cuts
HONG KONG: Investment banks and brokerages across Asia have launched a sweeping round of job cuts as Europe’s debt crisis and China’s economic slowdown bite into the region’s financial activity……
US crude rises on lower output ahead of Gulf of Mexico storm
SINGAPORE: U.S. crude futures rose for a second straight session on Monday after the threat of a storm shut nearly a quarter of the country’s offshore crude and gas output in the Gulf of Mexico……
Italy and the missed opportunity of euro “”purgatory”"
ROME: Antonio Fazio, the disgraced former governor of the Bank of Italy, warned half-jokingly in 1998 that the euro would not be paradise but a “”purgatory”" that would demand years of pain and sacrifice……
Europe’s Tower of Babel hampers euro solution
PARIS: As Europe considers a leap towards closer integration to try to save the euro single currency, it resembles the biblical Tower of Babel – unable to complete an ambitious project because the residents don’t speak the same political and economic…..
S&P’s procedures under SEC review
NEW YORK: A last-minute decision by Standard & Poor’s Ratings Services to pull its ratings on a deal backed by commercial real estate loans is being examined by the Securities and Exchange Commission, the Wall Street Journal reported, citing employee…..
BlackBerry maker Research in Motion considers splitting business in two
LONDON: BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported……
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