EBay 2Q profit rises 26%
SAN FRANCISCO: EBay says its second-quarter profit climbed 26 percent as more people transferred money through its PayPal payment service and shopped on its main website.
Former media mogul Conrad Black released from federal prison
CHICAGO: Former media mogul Conrad Black quietly left a federal prison in the blazing central Florida heat Wednesday, free on bond after serving just two years of a 6{-year sentence for defrauding investors, officials said.
Starbucks 3Q profit climbs 37%
CHICAGO: Starbucks Corp.’s effort to rebuild itself is taking hold: The world’s largest coffee chain said Wednesday that its third-quarter profit rose 37 percent as more customers visited its stores and spent more when they did.
Obama signs US financial overhaul into law
WASHINGTON: A triumphant Barack Obama signed into law on Wednesday the most sweeping overhaul of lending and high-finance rules since the Great Depression.
Korea’s Hynix chalks up Q2 net profit amid record sales
SEOUL: Hynix Semiconductor turned a net profit in the second quarter after a loss the year before as sales rose to a record and prices for its mainstay computer memory chips increased.
Bernanke: US Fed plans no new steps though economic recovery has weakened
WASHINGTON: Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economic recovery has weakened, the Fed plans no new steps for now to try to bolster it.
Oil falls below US$77 as supplies grow
NEW YORK: Oil prices retreated Wednesday after the U.S. said crude supplies grew despite more demand for most types of fuel. Comments from Federal Reserve Chairman Ben Bernanke about the fragile economy also pushed prices down.
US stocks drop as Fed warns of uncertain economy
4 M’sians claim US$65m losses from fraud
PETALING JAYA: Four Malaysian parties are alleged to have suffered losses to the tune of US$65mil due to fraud in their dealings with a Sweden-based company.
Khazanah unit gets good response for Parkway offer
PETALING JAYA: In a blow to Fortis Healthcare Ltd, Khazanah Nasional Bhd’s unit, Integrated Healthcare Holdings Ltd, says it has secured 50.5% approval to date from Parkway shareholders who have voted for its partial offer.
Subsidy cuts without pay rise = tax hike
ITS been roughly a week since subsidies were cut marginally in Malaysia and judging by the reaction people have to it, I guess the public has taken it in stride.
June inflation rate rises to highest level since May 2009
PETALING JAYA: Malaysias June inflation rate rose 1.7% to 113.7 from a year ago, reaching the highest level since May 2009 as prices began to normalise from last years low base.
RM10.7bil expected to be raised from capital markets
KUALA LUMPUR: Some RM10.7bil are expected to be raised this year from the capital markets through initial public offerings (IPOs), private debt securities and sukuk issuances.
Kulim sells NatOleo for RM450mil
KUALA LUMPUR: Kulim (M) Bhd is selling its entire 91.38% stake in loss-making Natural Oleochemicals Sdn Bhd (NatOleo) to PGEO Group Sdn Bhd, a subsidiary of Singapore-listed Wilmar International Ltd, for RM450mil.
Penjanabebas: IPPs don’t get financial benefit from gas subsidy
PETALING JAYA: The independent power producers (IPPs) do not derive “any financial benefit” from the gas subsidy, said Penjanabebas, the IPPs association.
Kenmark resumes printing ops
KUALA LUMPUR: Kenmark Industrial Co (M) Bhd has resumed operations at its printing division and uncompleted orders will start to be delivered.
Petra Energy to set up new onshore fabrication facility in Sabah
KOTA KINABALU: Petra Energy Bhd is identifying a suitable site for its new onshore fabrication and logistics facility at Sabahs oil and gas (O&G) hub in Kimanis.
Clarification
IN reference to our report on Wednesday, headlined No hitch at Petra Perdanas AGM, Petra Perdana Bhd clarified that it had not passed the special resolution approving the change of the companys name.
Ivorys public issue oversubscribed
KUALA LUMPUR: Ivory Properties Group Bhds 9.3 million shares allocated for public subscription has been oversubscribed by 2.19 times.
QSR buys 1.94 million KPJ REIT units
PETALING JAYA: QSR Brands Bhd has acquired 1.947 million units in KPJ Real Estate Investment Trust (REIT) from the open market on July 20 for about RM2.012mil.
Support Line
K.M. Lee writes on Cocoaland Holdings, Pelikan International and Pentamaster Corporation.
Msian Mosaics agrees to buyout
KUALA LUMPUR: Malaysian Mosaics Bhd (MMB) has agreed to the privatisation proposal by its holding company and substantial shareholder Gek Poh (Holdings) Sdn Bhd.
Sunway REIT sets new industry benchmark
PETALING JAYA: Sunway REIT, which made its debut on Bursa Malaysia on July 8, has set a new industry benchmark in the local real estate investment trust (REIT) market (M-REIT) by adopting best practices in its business model, market disclosure and corporate governance practices.
Mahabuilders eyes Bursa listing next year
JOHOR BARU: Johor-based construction and property company Mahabuilders Bhd is eyeing a listing on Bursa Malaysias main market next year.
Guan Chong unaware of UMA
PETALING JAYA: Guan Chong Bhd, in a reply to Bursa query on the sharp rise in its share price recently, said it was not aware of any unannounced corporate development, rumour or other reasons that may have contributed to the unusual market activity.
Optimism on auto sector running high
PETALING JAYA: Analysts are upbeat about the outlook of the local automotive industry for 2010, saying the current state of the auto industry is one of optimism not seen since 2005.
Mercedes-Benz sales in Malaysia rise 29%
KUALA LUMPUR: Mercedes-Benz Malaysia Sdn Bhds sales rose 29% to 2,417 units in the first half of 2010 from 1,869 units previously, making it the market leader in the local luxury passenger car segment.
Time sought for nod on RHB Caps bank buy
PETALING JAYA: The extension of time RHB Capital Bhd (RHB Cap) sought to complete the acquisition of PT Bank Mestika Dharma is to allow Indonesian regulators time to complete the approval process.
Royal award for Islamic finance
KUALA LUMPUR: The Royal Award for Islamic Finance, which is spearheaded by the Malaysia International Islamic Financial Centre (MIFC), will be conferred on an individual for outstanding contribution for the advancement of Islamic finance globally.
CIMB Thai Q2 earnings improve
PETALING JAYA: CIMB Group Holdings Bhd told Bursa that CIMB Thai Bank plc, a 93.15% subsidiary of CIMB Bank Bhd, announced yesterday a consolidated net profit of 366 million baht for the second quarter (Q2) ended June 30 versus a net loss of 245 million baht a year ago.
AmInvestment aims to manage more assets
KUALA LUMPUR: AmInvestment Bank Groups fund management division is confident of achieving 20% to 25% growth in assets under management (AUM) for its fiscal year ending March 31, 2011. The banks AUM stood at RM20.2bil as at June 30.
HSBC Amanah to open more branches in the south
JOHOR BARU: HSBC Amanah Malaysia Bhd plans to open more branches in the southern region, comprising Johor, Malacca and Pahang, in the coming years.
BP denies report CEO leaving soon
LONDON: BP Plc yesterday denied a report that its heavily criticised chief executive would soon leave, after the company lined up US$7bil in asset sales to help pay for the worst oil spill in US history.
Stress tests strict and serious
VIENNA: One of Europes top central bankers sought on Tuesday to allay concern that a health check of Europes lenders was too soft, while three successful debt auctions suggested fears of sovereign meltdown were easing.
Judge okays Goldman-SEC settlement
NEW YORK: A federal judge has approved a US$550mil settlement between Goldman Sachs and the US Securities and Exchange Commission (SEC) related to civil fraud allegations in a subprime mortgage product.
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