ACE Jerneh eyes double-digit growth
ACE Jerneh Insurance Bhd is targeting double-digit growth in gross written premiums this year, driven by its strong sales force, country president Lim Sun said today. ACE Jerneh is the result of the merger completed on Jan 4 this year between ACE…..
UK LNG terminal has import slot for Petronas
Petroliam Nasional Bhd or Petronas, has a slot available at the UK’s Dragon liquefied natural gas terminal next month to import the chilled fuel, suggesting that it doesn’t plan to bring in its own cargo.The company has offered a berth on March 6 to …..
Malaysia conventions generate RM382m
A total of 49 international and regional conventions, generating an excess of RM382 million in economic impact to the country, was secured by the Malaysia Convention and Exhibition Bureau (MyCEB) with industry partners in 2011. With an average of 73…..
Hwang Investment gets SC nod on fund size
Hwang Investment Management (HwangIM) Bhd has received the Securities Commission’s approval to increase the fund size of its latest offering, the Hwang Structured Income Fund V, to RM150 million from RM100 million effective February 16. The company e…..
Eng Tek slides on Q4 net loss
Eng Teknologi Holdings Bhd, an electronic-components maker, slid 2.9 percent to RM1.68 in Kuala Lumpur trading at 9.29am, the most since Nov. 30. Eng reported fourth-quarter net loss of RM53.8 million, compared with a profit of RM9.3 million a year e…..
ING expects 25,000 to take up new product
ING Insurance Bhd expects to sign up 25,000 policyholders for its new investment-linked insurance package, INGeasi For You, by year-end. Its chief marketing officer, Joos Louwerier, said the company currently has over 90,000 policyholders under its…..
CCK Cons gains on share distribution
CCK Consolidated Holdings Bhd, a poultry-processing company, gained 3.3 percent to 93 sen in Kuala Lumpur trading at 9.29am, on course for its highest close since April 2000. The company will distribute one treasury share for every 15 shares held aft…..
Centre to promote SME products in China
The Asean-China SME Trade Centre in east China’s Changshu city, would serve as a one-stop business and trade centre for Asean’s and China’s small and medium enterprises (SMEs) to trade and promote their products, commodities and services.Low Yat Grou…..
Plantations, banks drag FBM KLCI lower
Share prices on Bursa Malaysia ended on easier note today following losses in selected plantation and banking counters, dealers said.The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 3.26 points, or 0.208 per cent, lower at 1,560.52, after ope…..
Wilmar Intl Q4 profit surges 57pc
Wilmar International Ltd, the world’s biggest palm-oil processing company, said fourth-quarter profit rose 57 percent on higher contributions from oilseeds, grains and its acquired sugar business.Net income climbed to US$500 million, or 7.7 cents a s…..
Dow tops 13,000 in bumpy day
NEW YORK: The Dow Jones Industrial Average topped 13,000 for the first time since May 2008 before falling back to close nearly flat on Tuesday, in a bumpy day spurred by news of a new bailout deal for Greece.After a slow start the blue-chip index pus…..
Independent unit for construction audit at Lynas, says Govt
KUALA LUMPUR: An independent monitoring unit will be formed to undertake a construction audit at the Lynas Corporation’s rare earth refinery plant in Gebeng, Pahang to ensure compliance to all standards imposed by the appropriate and relevant profess…..
Auto industry to meet Bank Negara on loan guidelines
KUALA LUMPUR: Automotive industry players will meet Bank Negara Malaysia on Friday to discuss the new guidelines for loan borrowers, following the 25 per cent drop in sales of new motor vehicles last month, says Proton……
Tan & Tan’s G Residence to be sold out by year-end
KUALA LUMPUR: G Residence, developed by Opt Ventures Sdn Bhd, a unit of Tan and Tan Development Bhd, is expected to be sold out by year-end……
Shares of Wilmar, which has plantations in M’sia, plunge after Q4 earnings
SINGAPORE: Wilmar International Ltd posted a 57 percent jump in quarterly profit, boosted by a huge revaluation gain in its core palm oil business and from its enlarged sugar operations, but investors dumped shares on concerns about declining margins…..
Malaysia Airports call for second tender for KLIA2 commercial outlets
KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) will be calling for a second tender briefing for KLIA2 involving 39 lots comprising retail, F&B and services categories on Feb 29 and March 6 respectively, at the Pan Pacific Hotel KLIA……
Local bourse closed down, Asia more positive
KUALA LUMPUR: The local benchmark index fared poorer today while most Asian bourses tilted towards the positive amid mixed sentiments following Greeces second bailout that did not quite excite investors……
Mobile service operators start talks on merger and acquisitions
PETALING JAYA: Consolidation talks have begun in the telecommunication space where as many as nine parties have licences to offer mobile services……
Foreign direct investments hit RM33bil, surpassing pre-crisis level
PETALING JAYA: Despite prevailing global economic uncertainties, Malaysias total foreign direct investment (FDI) inflows sprung a surprise and climbed to RM32.9bil last year, eclipsing the pre-crisis level of RM29.1bil achieved in 2007……
Westports plans RM3.2bil investment
PUTRAJAYA: Westports Malaysia Sdn Bhd will invest RM3.18bil under its expansion plan to further improve the port’s capacity, executive chairman Tan Sri G. Gnanalingam said……
Felda unit listing hits snag
PETALING JAYA: Feldas quest for a smooth listing of its investment arm, Felda Global Ventures Holdings Bhd (FGVH) on Bursa Malaysia hit another speed bump following the cancellation of Koperasi Permodalan Felda Malaysia Bhd (KPF) EGM, which is slate…..
KEuro under close watch after granted highway concession
PETALING JAYA: Kumpulan Europlus Bhd (KEuro) has become a closely-watched company since the issuance of the letter of approval for the 60-year West Coast Expressway concession to its subsidiary, West Coast Expressway Sdn Bhd (WCESB), last month……
Need to reiterate pledge of confidentiality
THE heat is on from various experiences of consumers, it looks like banks are determined to follow the prudential lending guidelines set about two months ago……
Eversendai wins new RM185mil contracts in Mideast, Malaysia
PETALING JAYA: Eversendai Corp Bhd has secured contracts for projects in the Middle East and Malaysia valued at RM185mil……
Greece bailout deal provides more clarity ton markets
AFTER months of uncertainty, the finance ministers of the 17-member eurozone finally agreed to grant the second bailout worth 130 billion euros negotiated last October to a bankcrupt Greece following more than 13 hours of negotiations……
MAHBs plans to attract more airlines to Malaysia
SEPANG: Malaysian Airports Holdings Bhd (MAHB), which posted a fourth-quarter net profit of RM122.9mil, is in discussions to get more airlines to fly into Malaysia……
HSBC: IPO market to pick up in Q2, Q3
PETALING JAYA: The initial public offering (IPO) market would likely pick up momentum given the strong fundamentals in Asian markets and renewed interest in the equity markets……
Nods for Maybank note programme
PETALING JAYA: Malayan Banking Bhd (Maybank) has obtained the relevant approvals for a proposed subordinated note programme of up to RM7bil in nominal value……
Kingfisher Airlines near collapse
NEW DELHI: Indias debt-crippled Kingfisher Airlines Ltd stood on the brink of collapse yesterday after nearly a week of flight cancellations and the resignation of dozens of its pilots. …..
Mazda to raise US$2b in share issue, loans
TOKYO: Japans Mazda Motor Corp plans to raise US$2.1bil to shore up its finances and invest in a new plant in Mexico, a bigger-than-expected fund-raising that sent its shares tumbling 10%. …..
Investors fear banks may hijack Olympus board
LONDON: Western investors in Japans disgraced Olympus have accused its banks of trying to take control of the boardroom by stealth, amid media reports that the firms major creditors are set to install their own appointees in the top jobs……
Maxis poised for special dividend payout
KUALA LUMPUR: Maxis Bhds board of directors will discuss the possibility of declaring a special dividend payout at their routine directors meeting which is usually held at the end of every month, sources familiar with the matter said……
Steep dip in MMHE earnings, revenue
PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) posted a 65% year-on-year drop in net profit to RM46.4mil for the quarter ended Dec 31, 2011 mainly due to no further recognition of revenue from engineering, procurement, const…..
Record profit for ECS in fourth quarter
PETALING JAYA: ECS ICT Bhd, which distributes information and communication technology (ICT) products and software, posted record net profit of RM10.5mil in the fourth quarter ended Dec 31, 2011……
Corporate Results In Brief
KUALA LUMPUR: Results from Unisem, Lion Corp, Manulife, Tradewind, Pjarmaniaga, TH Plantations, QL Resources and Tebrau Teguh……
Harrisons gets Customs letter
PETALING JAYA: Harrisons Holdings (M) Bhd’s wholly owned subsidiary in Sabah has received a letter of demand from the Royal Malaysian Customs Department for RM91.75mil regarding alleged unpaid duties and sales tax……
Alibaba Q4 net slips on weak global economy
HONG KONG: Alibaba.com, which could soon be taken private by its founder Jack Ma, posted a first profit decline in more than two years as a weak global economy hit the number of paying members for its services. …..
Consultant assessing bid for late Tan Sri Lee Yan Lians family assets
PETALING JAYA: The sale by tender of the five parcels of freehold land in the Klang Valley owned by the late Tan Sri Lee Yan Lians family has attracted strong interest from bidders……
S’pore house prices to drop in next 6 months
SINGAPORE: PropertyGuru, Singapore’s leading property site, revealed its fourth quarter 2011 survey results on the property market sentiment in Singapore……
Elderly not ready to leave flats for bonus
SINGAPORE: The new Silver Housing Bonus offers the elderly the chance to unlock their savings, but many say they are not keen to downgrade to a smaller flat just yet……
China home prices fall in January
BEIJING: Home prices in more than two thirds of Chinas major cities continued their slump in January from a month before, the government announced, as moves to cool the market continued to bite……
New EU bailout for Greece package is worth 130 billion euros
BRUSSELS: Eurozone finance ministers has sealed a 130-billion-euro (US$172bil) bailout for Greece to avert a chaotic default in March after persuading private bondholders to take greater losses and Athens to commit to deep cuts……
Eurozone study says Greek debt can easily derail again
BRUSSELS: Greeces second bailout programme could easily go off the rails and send the nations debt rocketing back to unmanageable levels, according to a confidential study by its international lenders……
Bondholders set for loss
LONDON: Banks are set to lose almost three-quarters of the value of their Greek government bonds under a deal agreed early yesterday, slightly more than they had planned, people familiar with the matter said……
OneSteel flies high
MELBOURNE: OneSteel, Australias second-largest steelmaker, posted an underlying first-half profit ahead of forecasts, lifting its shares 9%, and outlined plans to change its name to reflect its growing mining business and attract new investors……
HSBC in £4bil SME trade financing boost
LONDON: HSBC, bucking the trend among some European banks, is increasing its exposure to trade finance by making £4bil of credit available to small and medium-sized enterprises that trade, or are planning to trade, internationally……
Survey: New Zealand Q4 growth likely to be slight
WELLINGTON: New Zealands economy probably posted modest growth in the fourth quarter with improving activity seen in more regions, a survey from the National Bank of New Zealand (NBNZ) showed……
Comcast to take on Netflix with Web video service
(Reuters) – Comcast Corp, the No. 1 U.S. cable operator, became the latest major name to take on Netflix Inc on Tuesday when it announced plans for an online video service offering a library of TV shows and movies……
Dell shares fall on earnings miss, outlook
SAN FRANCISCO (Reuters) – Dell Inc forecast fiscal first-quarter revenue below Wall Street’s expectations, stoking fears the PC industry has not fully emerged from its downturn and sending the company’s shares more than 4 percent lower……
Merrill raises bid for rivals’ top brokers: sources
NEW YORK (Reuters) – Bank of America’s Merrill Lynch has launched a more aggressive recruiting campaign for top-tier brokers, including a bonus paid for transferring client assets after six months at the firm, two sources familiar with the new plan…..
Wall St loses steam after Dow crosses 13,000
NEW YORK (Reuters) – Stocks ended little changed on Tuesday, paring gains after the Dow topped 13,000 for the first time since May 2008, and as higher oil prices damped prospects for the economy……
Johnson & Johnson CEO Weldon to step down in April
(Reuters) – Johnson & Johnson Chief Executive William Weldon will step down from his post in April after a series of recalls called into question the quality of the healthcare conglomerate’s products, from artificial hips to infant Tylenol…..
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