Regional markets lower in early Friday trade
Regional markets were mostly lower on Fridays early morning trade, in line with negative sentiment over concerns about the US economic recovery.
SC says it will act if Aldwich found breaching laws
PETALING JAYA: The SecuritiesCommission (SC) is examining the bond filings of Aldwich Bhd and will act if it finds any breaches to its laws and guidelines.
Tycoon Ananda may announce buyout of power and gaming company today
PETALING JAYA: Will he or wont he? The market is abuzz that Tanjong plcs major announcement today will involve substantial shareholder T. Ananda Krishnan proposing totake the power and gaming company private, just two days after the tycoon announced a similar exercise for Measat Global Bhd.
Oil prices rise on better corporate earnings
NEW YORK: Oil prices rose Thursday as better-than-expected earnings from Exxon Mobil Corp., Southwest Airlines Co. and others bolstered hope for an improving economy.
US stocks fall, Europe up, Asia mixed
NEW YORK: Stocks ended an erratic day with a modest loss Thursday as investors tried to reconcile another batch of conflicting economic signals.
Google changes tune and says search still working in China(update)
Analysts upbeat on Measat privatisation
KUALA LUMPUR: Analysts are generally positive on Measat Global Bhds privatisation deal and likely to advise shareholders to take up the general offer by its major shareholder.
Scomi Engineering eyes more monorail jobs
RAWANG: Scomi Engineering Bhd is eyeing more monorail jobs locally and abroad as it is confident that its package has the competitive edge in terms of cost and turnaround time compared with its competitors.
Ranhill pre-qualified for RM645mil Bangladesh power plant project
PETALING JAYA: Ranhill Bhd, in ollaboration with Bangladesh-based STS Educational Group Ltd, have been pre-qualified for a 150-225 MW combined power plant project worth US$200mil (RM645mil) in Bangladesh.
The long wait for the iPad continues
Expect the iPhone 4G by or before September this year but the same cannot be said for the iPad.
HwangDBS Investment keen on Middle East and Brunei investors
KUCHING: HwangDBS Investment Management Bhd is zooming in on wealthy investors in the oil-rich Middle East countries and Brunei to distribute its newly launched AIIMAN A20 China Access Fund, according to its global equities director Peter Chiang Ngee Onn.
YHS settles dispute with Padu Bistari
PETALING JAYA: Yeo Hiap Seng (M) Bhd (YHS) has settled its legal dispute with Padu Bistari Development Sdn Bhd amicably.
Demand for electronics to drive PCB growth
GEORGE TOWN: The rising demand for LCD/LED back-lit televisions as well as electronic industrial and medical equipment will drive the growth of printed circuit board (PCB) manufacturing and the PCB assembly industry this year.
Kontron plans RM20m upgrade
GEORGE TOWN: Kontron Design Manufacturing Service (M) Sdn Bhd (KDMS) is investing US$20mil over the next five years to upgrade its surface mount technology production lines.
Ge-Shen to diversify into cosmetics, skincare trading
JOHOR BARU: Plastic moulding maker Ge-Shen Corp Bhd is setting up a trading arm to distribute cosmetics and skincare products as part of its diversification plan.
Astino in RM21m expansion drive
GEORGE TOWN: Astino Bhd is spending RM21mil to expand its roofing materials-manufacturing operations and diversify into new areas.
Bursa actively looking into Focus Point issues
KUALA LUMPUR: Bursa Malaysia is actively engaging with Focus Point Holdings Bhd as well as its advisors to resolve any issues raised regarding the deferment of the issuers listing on Tuesday.
Analysts cool to PLUS move
PETALING JAYA: PLUS Expressways Bhds proposed disposal of its entire equity interest in PT Cimanggis Cibitung Tollways (CCTW) for 57.82bil rupiah (RM20.2mil) has failed to excite or impress analysts, who note that the move would have minimal impact on the toll operators earnings.
Two Transmile units to be wound up
PETALING JAYA: Transmile Group Bhd’s wholly-owned subsidiaries, Transmile Air (SPV) Ltd and TGB (SPV) Ltd will be wound up because they cannot continue their businesses due to their liabilities.
Aston expects to raise US$360mil in IPO
SYDNEY: Australian coal miner Aston Resources expects to raise up to US$360mil in an initial public offering due to be priced on Aug 3 after lining up two cornerstone investors, two sources close to the transaction said.
China Everbright Bank to list on Aug 18
SHANGHAI: China Everbright Bank will list on the Shanghai stock exchange on Aug 18, and will soon release its prospectus for an initial public offering (IPO) slated to raise up to US$2.9bil, the official Shanghai Securities News reported yesterday.
Credit Suisse explains methods used in assessing EON Cap offer
PETALING JAYA: EON Capital Bhd’s (EON Cap) independent adviser Credit Suisse Securities (M) Sdn Bhd used four methodologies to arrive at its opinion that the RM5.06bil takeover offer from Hong Leong Bank Bhd (HLB) for the former was “not fair from a financial perspective.”
Alliance Bank aims for higher return on equity
KUALA LUMPUR: Alliance Bank Malaysia Bhd expects to achieve its target of 16% return on equity (ROE) in 12 to 18 months, in line with the ROE industry average of 14% to 16%, said group chief executive officer and director Sng Seow Wah.
Hong Leong Bank to hold EGM on Aug 23
PETALING JAYA: Hong Leong Bank Bhd told Bursa Malaysia that it will hold an EGM on Aug 23 to decide on the resolution to acquire the entire assets and liabilities of EON Capital Bhd for RM5.06bil.
UEM Land cashing in on Cyberjaya revival
CYBERJAYA: UEM Land Holdings Bhd, which will launch its maiden property project in the Klang Valley this weekend, expects mediocre margins from the 122 landed strata homes offered under the first phase of its high-end residential development, known as Symphony Hills, in Cyberjaya.
Harvard programme for Naza chairman
PETALING JAYA: Naza joint group executive chairman Datuk SM Faisal SM Nasimuddin has become the first Malaysian to be invited to the Harvard Business School’s Owners’/Presidents’ Management Programme (OPM) in Boston, the United States.
Kamaruzzaman appointed JCorp acting CEO
JOHOR BARU: Kamaruzzaman Abu Kassim, senior vice-president of finance and corporate services of Johor Corporation (JCorp), was appointed the diversified conglomerates acting president and chief executive yesterday following the resignation of Tan Sri Muhammad Ali Hashim.
Sidek appointed to 1MDB board
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak has appointed Chief Secretary to the Government, Tan Sri Mohd Sidek Hassan to the board of advisors of 1Malaysia Development Bhd (1MDB).
Malaysian franchise market sheltered from recession
KUALA LUMPUR: Malaysia’s franchise market is relatively sheltered from the global recession as the industry maintains 15% annual growth when much of the global economy is stagnated, an industry player said.
SK Telecom Q2 profit up 5%
SEOUL: South Korea’s top mobile carrier SK Telecom Co reported a 5% rise in quarterly profit yesterday, helped by increased data use by smartphone subscribers and reduced marketing spending. The company faces a tougher outlook as it offers generous incentives and service plans to retain customers.
Shell profits double on revamp
LONDON: Royal Dutch Shell Plc said second-quarter current cost of supply (CCS) net income jumped 94% to US$4.53bil, thanks to a strong operating environment and a speedy restructuring of the group.
GM bullish about S-E Asia
BANGKOK: General Motors (GM) aims to sell about 1.9 million cars in Thailand, Indonesia and Malaysia this year.
S’pore central bank sees rising prices, moderating growth
SINGAPORE: Singapore’s economic growth will moderate in the second half while prices will rise faster, the central bank said yesterday, while making clear it remained comfortable with its current monetary policy.
Panasonic in US$9.4bil buyout
TOKYO: Japans Panasonic Corp said it would buy out subsidiaries Sanyo Electric and Panasonic Electric Works for up to US$9.4bil in cash and shares to accelerate its push into greener businesses.
Low dispels talk he received RM500mil airbase job
KUALA LUMPUR: Well-connected businessman Jho Low has dispelled talk that he is involved in the redevelopment of the TUDM Sungai Besi airbase.
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