HLB may extend offer deadline for EON Cap
PETALING JAYA: Going a step further, Hong Leong Bank Bhd (HLB) clarified yesterday that in its discretion, it might extend the Nov 30 deadline for EON Capital Bhd (EON Cap) to accept its offer to acquire the entire assets and liabilities of EON Cap of RM5.06bil.
Bursa profit down on lower trading activities
KUALA LUMPUR: Bursa Malaysia Bhd posted a lower net profit of RM27.5mil in its second quarter ended June 30 compared with RM35mil in the same period last year.
UEM-Bina Puri JV wins RM997mil LCCT job
PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) has awarded a RM997.22mil contract for the main buildings at the proposed low-cost carrier terminal (LCCT) to a joint venture between UEM Construction Sdn Bhd (UEMC) and Bina Puri Holdings Bhd.
Scomi Eng shares soar
KUALA LUMPUR: Scomi Engineering Bhd shares hit their highest levels since October 2009 on record volume yesterday after the company announced a special dividend of 29.5 sen a share on Thursday.
Honam buys 72% stake in Titan for RM2.94b
KUALA LUMPUR: Honam Petrochemical Corp, South Koreas second-largest ethylene maker, has acquired a 72.3% stake in Titan Chemicals Corp Bhd for RM2.94bil, or RM2.35 per share.
Health financing scheme ought not to be delayed further
PETALING JAYA: While lauding the move to set up a National Health Financing Scheme similar to those in developed countries, industry observers feel some pertinent considerations should not be overlooked to ensure its effectiveness.
Lower debut for CMMT
KUALA LUMPUR: Shares of CapitaMalls Malaysia Trust (CMMT), the largest pure-play shopping mall real estate investment trust (REIT) in Malaysia, closed lower yesterday on its trading debut on Bursa Malaysias main market at 98 sen, 2 sen lower than its institutional price of RM1 but at par with its retail price.
Your 10 Questions
Plantation Industries and Commodities Minister Tan Sri Bernard Dompok fields the 10 questions posed to him by our readers.
Up Close and Personal with Sheldon Adelson
BILLIONAIRE casino mogul Sheldon Gary Adelson spent 20 minutes with this writer to share about himself and his upcoming plans.
Transmile gets restraining order from High Court
PETALING JAYA: Transmile Group Bhd said the High Court had granted a restraining order under Section 176 of the Companies Act 1965 to halt further proceedings and actions taken against the company and Transmile Air Services Sdn Bhd (TAS) for 90 days starting July 16.
Kontron hit on alleged fraud in Malaysian ops
FRANKFURT: Shares in a major German company, a global leader in embedded computer technology, fell sharply as word got around that the company has been unable to recover large sums of debts from customers in Asia and because of alleged fraud at its Malaysian facility, Bernama reported.
Study: CO2 emission lower from peatland
KUCHING: The carbon dioxide (CO2) emission from oil palm plantations on tropical peatland is lower than that of the forest, a study has shown.
ACCCIM: 2012 best time to launch GST
KUALA LUMPUR: The Associated Chinese Chambers of Commerce & Industry of Malaysia (ACCCIM) says 2012 will be the appropriate time for the government to introduce the goods and services tax (GST).
Ho Hup to buy two companies
PETALING JAYA: Ho Hup Construction Co Bhds board of directors has announced a plan to buy two companies, which it says is part of a plan to revive the ailing builder.
Gentings racino proposal faces uncertainty
PETALING JAYA: The delay in the proposed development and operation of a video lottery facility at New York Citys Aqueduct Racetrack does not bode well for Genting Malaysia Bhd which is now the sole surviving contender for the project, according to analysts.
MPBs offer for remaining NST shares
KUALA LUMPUR: Media Prima Bhd (MPB) Friday announced an unconditional takeover offer for all the remaining ordinary shares of RM1 each in the New Straits Times Press (M) Bhd not already owned by it, at an offer price of RM2.40 per offer share.
Naim to build tower in Libya
PETALING JAYA: Naim Holdings Bhd said its wholly-owned subsidiary, NCSB Engineering Sdn Bhd, had entered into a memorandum of understanding (MoU) yesterday with Libyas Al-Waatasemu Charity Foundation (WCF) to cooperate for the development of Gaddafi Tower, a proposed 50-storey building in Tripoli, Libya.
Signaland makes MGO for SSB minority shareholders
PETALING JAYA: Signaland Sdn Bhd, which is linked to Tan Sri Quek Leng Chans Hong Leong Group, has made a mandatory general offer to buy out minority shareholders in Southern Steel Bhd (SSB) at RM2.05 a share.
Hua Yang proposes bonus issue
PETALING JAYA: Property firm Hua Yang Bhd, which reported a 75% growth in net profit to RM4.9mil in the first quarter ended June 30, has proposed a bonus issue exercise.
MFCB to buy Jadi shares
PETALING JAYA: Mega First Corp Bhd (MFCB) told the exchange yesterday it had subscribed via private placement of 61.46 million shares in Jadi Imaging Holdings Bhd for the total cash consideration of RM12.29mil.
Tong Herr: EC proceeding ended
PETALING JAYA: Tong Herr Resources Bhd said the European Commission had terminated the anti-dumping and anti-subsidy proceeding concerning imports of certain stainless steel fasteners and part thereof originating in India and Malaysia.
Baneng inks agreement with lenders to restructure debt
PETALING JAYA: Baneng Holdings Bhd said under the auspices and coordination of the Corporate Debt Restructuring Committee, it, along with subsidiaries Maxlin Garments Sdn Bhd and Seri Azhimu Jaya Garments & Textiles (B) Sdn Bhd, associate Baneng Industries Sdn Bhd and former subsidiary Seri Pertamas Garments Manufacturer Sdn Bhd (collectively, the borrowers), has entered into a conditional debt-restructuring agreement with their lenders.
Lafarge to get RM565m from sale
PETALING JAYA: Lafarge will receive net proceeds of 141 million euro (RM565mil) from the sale of 11.2% in Lafarge Malayan Cement Bhd (LMCB) by way of a placement done on Bursa Malaysia Securities Bhd, according to a statement via Business Wire.
Transforming Axiata
Datuk Seri Jamaludin Ibrahim, the man tasked to make Axiata a regional champion, has still a lot on his plate.
A holistic approach
Datuk Seri Jamaludin Ibrahim met up with StarBizWeeks P GUNASEGARAM, B.K. SIDHU and LEONG HUNG YEE for some two hours to talk about the changes he effected to reshape Axiata so that it will by 2015 become a regional champion. Here are the excepts of the interview.
A regional champion in the making
IT is no secret to the industry that Datuk Seri Jamaludin Ibrahim, a man who is well versed in technology, intends to turn Axiata Group Bhd into a regional champion in just five years.
Celco maintains consistent growth
AXIATA Group Bhd has managed to maintain a consistent growth story. Apart from its ability to maintain its EBITDA (earnings before interest, tax, depreciation and amortisation) margins above 40% in the past four quarters, Axiata will also be able to pay dividend from next year.
Stock-taking at Kuwait Finance House
KUWAIT Finance House (M) Bhd (KFH Malaysia) has been thrust into the limelight in the past few months after news broke that a due diligence status audit was being conducted at the bank at the request of its new boss.
Bank rolls out 5-year plan to stimulate growth
StarBizWeek talks to Kuwait Finance House (M) Bhd chief executiveoffice r Jamelah Jamaluddin on the current situation at thebank and the way forward.
HSBC promotes Indonesias potential
AS the worlds fourth most populous country with 230 million people, Indonesia is another economic engine providing opportunities for growth and enormous business prospects.
Forum highlights various sectors for investment
WITH the objective to assist Malaysian businesses tap into the opportunities in emerging Asian economies, HSBC Bank Malaysia Bhd is presenting a series of forums Activate Asia throughout 2010.
The Indian story
INDIA, in many ways is a land of dichotomies. Be it in the social sphere the ridiculously rich to the heart-tugging poor; or the business sphere the sophistication of world-class Indian behemoths to the humble cottage and rural-based industries; a bursting trillion-dollar IT story staged against a backdrop of bustling chaos, power blackouts and long-ignored infrastructure and road systems.
Internal revamp at Scomi
AN INTERNAL restructuring is underway at the Scomi Group Bhd which will lead to the group being more focused on the areas of business it wants to concentrate on.
Retaining and managing talent key to growth
Challenges SMEs face at the developmental stage.
Ivory Properties sees right time for listing
Penang-based Ivory Properties Group Bhd, which will soon be listed on the Main Market of Bursa Malaysia, believes the timing is right to go for the listing as the economy, especially the property sector, has picked up following economic stimulus measures by the Government in the past two years.
Go Asia for consumption stocks
Fund managers favour region With equity markets continuing to be volatile for the foreseeable future, wary investors will be looking for pointers on where to put their money.
Economists remain optimistic based on countrys growth pattern
WHEN it comes to your personal view about the state of Malaysias economy, do you consider yourself an optimist, a pessimist, or perhaps, somewhere in between?
A mild upward bias
TREND ANALYSIS – By K.M. LEE
Eye on stock
TIME Engineering Bhd
The plantations shuffle
P. Gunasegaram says that the changes at two major plantation groups indicate the peculiarities of government-linked companies and the shifting tides that can transform fortunes.
Will we ever learn from rough seas and sunk costs?
Errol Oh feels noble policies should not end up as expensive flops.
Toronto G-20 Summit reflects fragile unity
Lin See-Yan opines that the Toronto G20 Summit reflects fragile unity.
The caterpillar analogy
Tay Han Chong talks about balancing parenting and financial planning.
Penang gears up for more property launches
HOUSING prices in Penang are expected to rise further over the next 18 months, as local and Kuala Lumpur-based developers plan to launch 2,696 units of residential properties with an estimated gross sales value of over RM2.1bil on the island and the mainland.
Developing townships with the right attributes
THE environment theme has become a unique selling proposition for many new property projects as developers hope to leverage on the peoples greater awareness of the environment to boost sales.
SunCity eyes foreign investors
A cooler, calmer sanctuary. This is what Sunway City Bhd (SunCity) will be offering residents of its new condominium development Amarine located in Sunway South Quay, Bandar Sunway.
Creating a real estate investment destination
THE Stars regional editor (north) Choi Tuck Wo met up with Kuala Lumpur-based and Penang developers on what needs to be done further to promote Penang as a real estate investment destination.
AgBank closes IPO with tepid HK debut
HONG KONG: Agricultural Bank of Chinas US$19.3bil initial public offering (IPO) limped across the finish line yesterday after a three-month sprint, its modest Hong Kong debut reflecting concerns over valuations and investor cautiousness.
Google misses profit forecast as costs surge
SAN FRANCISCO: Google Inc missed Wall Streets quarterly profit estimates for the first time in two years after a spike in expenses offset a 24% revenue jump, but it vowed to keep investing in new businesses to drive long-term growth.
Basel Committee publishes draft rules on bank buffer
LONDON: Banking supervisors published draft rules yesterday that will force banks worldwide to build up extra capital in good times, but gave no hint of what level of funds banks would be required to hold.
Wisdom compromised
The Sages – Review by ABBY WONG
Snapshots
Reviews by THEAN LEE CHENG
Leo Burnetts KL and Singapore offices tap on each others strengths
THE Yasmin Ahmad-directed TV commercial entitled Funeral, which won two gold Lions at Cannes recently, was a collaboration between Leo Burnett/Arcs offices in Kuala Lumpur and Singapore.
Miller joins JWT Delhi
ADRIAN Miller, whose creative leadership helped push Saatchi & Saatchi Malaysia to the number two spot in Campaign Brief Asias regional creative rankings this year, is joining JWT Delhi as chief creative officer effective mid-August.
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