Silver Bird unit gets letter of demand for RM19.63m
Silver Bird Group Bhds unit Standard Confectionery Sdn Bhd has received a letter of demand seeking full payment of RM19.63mil together with interest……
KLCI closes lower, banks weigh
The FBM KLCI ended lower Thursday, in line with cautious investor sentiment in the region, with some mild selling seen in bank stocks like Maybank and CIMB……
CIMB Thais Q1 net profit up 22.2% to RM34.21mil
CIMB Thai Bank Plc posted net profit of 344.1mil baht (RM34.21mil) in the first quarter ended March 31, 2012, up 22.2% on-year from the 281.6mil baht a year ago from higher net interest income and net fee and service income……
KPJ in JV with Naim Land for hospital project
KPJ Healthcare Bhd is teaming up with Naim Land Sdn Bhd to build and operate a hospital in Miri……
Zeti: Monetary policy based on domestic conditions
Bank Negara Malaysia will only change its stance on monetary policy, where the benchmark interest rate has remained at 3% since last May, if and when inflationary pressure builds up……
China Stationery extends losses after Bursa query
China Stationery Ltds share price extended its losses in the afternoon session on Thursday as speculators sold their shares after Bursa Malaysia Securities Bhds query over the recent spike in the price and volume……
IMF says secures $320 bln in drive for new funds
The International Monetary Fund said on Wednesday it had raised $320 billion so far in a bid to boost its firepower to deal with the euro zone debt crisis, with Poland and Switzerland joining the effort. …..
MRCB falls to lowest since October
Shares of Malaysian Resources Corporation Bhd (MRCB) fell to their lowest since October last year on Thursday in the absence of fresh positive news……
Bursa Malaysia 1Q earnings up 1% to RM40.77mil
Bursa Malaysia Bhd posted net profit of RM40.77mil in the first quarter ended March 31, 2012, up just 1% from the RM40.49mil a year ago……
MARC affirms ratings of Westports RM2.8bil debt notes
The Malaysian Rating Corp (MARC) has affirmed its sukuk ratings of AA+IS on Westports Malaysia Sdn Bhds Islamic debt notes totalling RM2.8bil……
Bursa Securities queries China Stationery over spike in price, volume
Bursa Malaysia Securities Bhd had on Thursday queried China Stationery Ltd over the recent sharp increase in the price and high volume of shares traded……
RHB Research remains positive on Telekom Malaysia
RHB Research Institute remains positive on Telekom Malaysia as monthly net additions for its UniFi service continue to remain healthy (+24,000a month), although adoption by business users still remain low……
KLCI lower at midday
The FBM KLCI was lower at midday, in light with cautious investor sentiments in the region. At 12.30pm, the local bourse was down 2.67 points or 0.17% to 1,596.19……
OSK Research: Downward momentum of UOA Devt share price has eased
OSK Retail Research said the share price of UOA Development has been trending lower since its debut in June 2011……
In-depth steel study to check out problems in M’sian steel sector
PETALING JAYA: The Boston Consulting Group (BCG) has been hired by the International Trade and Industry Ministry (Miti) to undertake an in-depth study on the current plight faced by players in the countrys RM40bil steel sector, industry sources told…..
HDBSVR expects selling to resume after Wall St fall
Hwang DBS Vickers Research expects selling momentum to return across the region on Thursday after the overnight fall on Wall Street and nagging concerns over the Eurzone debt woes……
MAA said to be considering selling fund management business
PETALING JAYA: Fresh from selling its core insurance business and becoming debt-free, MAA Group Bhd is considering hiving off its fund management business, according to sources……
Proposal with minimal Govt funding favoured for high-speed KL-S’pore rail bids
PETALING JAYA: The private sector will be invited to come out with a proposal that requires minimal Government funding for the development of the high-speed rail (HSR) project linking Kuala Lumpur and Singapore if the project gets the green light……
Overcoming public transport toughest hurdle
THE journey towards building a much better public transportation system in the Greater Klang Valley is underway……
Raymond Chan buys substantial stake in Ariantec
PETALING JAYA: Datuk Raymond Chan Boon Siew has emerged as a substantial shareholder in yet another smallish and otherwise unexciting listed company on Tuesday. This time, it is Ariantec Global Bhd……
Eversendai wins RM134mil Qatar contract
PETALING JAYA: Eversendai Corp Bhd has been appointed a major sub-contractor for the National Museum of Qatar (Package 2) project worth QAR 160 million (about RM134mil)……
Three-A Resources’ new plant in China to start ops soon
KUALA LUMPUR: Food and beverage (F&B) ingredients manufacturer Three-A Resources Bhd’s factory in China will start producing hydrolysed vegetable protein (HVP) and related products this month, said chairman Datuk Mohd Nor Abdul Wahid……
First Solar to scale back operations in Malaysia
WASHINGTON: US solar energy firm First Solar said it would cut 30% of its global workforce due to Europes financial woes, scaling back operations in Germany and Malaysia……
New leadership line-up at PwC
PETALING JAYA: Accounting firm PricewaterhouseCoopers Malaysia has announced the appointments of Mohammad Faiz Azmi, 49, as executive chairman and Sridharan Nair, 47, as managing partner……
Clarification
WITH reference to the StarBiz report yesterday titled CIMB will transform into an Asia-Pacific bank , it has been pointed out that it was not mentioned in the press conference on Tuesday that CIMB Group Holdings Bhd would become an Asia-Pacific ba…..
Sharp growth in China jewellery market seen
PETALING JAYA: The jewellery market in China is expected to grow by 35%, with momentum expected to continue for the next five years as economic growth pushes sales, according to the Malaysia External Trade Development Corp (Matrade)……
Penny stocks continue to fuel trading on Bursa
PETALING JAYA: The heavy trading volume on Bursa Malaysia, which has been a daily feature since early February, continue to be fuelled by penny stocks, with five of them accounting for more than a billion of the 2.13 billion shares traded on the mark…..
TNB debt ratings affirmed
PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has affirmed Tenaga Nasional Bhds (TNB) issuer rating of AAA and Islamic debt ratings at AAA ID with a stable outlook, but expects continued pressure on its credit metrics in the absence of furth…..
Symphony notes’ ratings affirmed
PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has affirmed its ratings on Symphony House Bhd’s RM100mil Islamic Commercial Papers/Medium-Term Notes (Islamic CP/MTN) Programme and revised the outlook to “negative” from “stabl…..
LBS unit to sell stakes in firms to HK-listed company
PETALING JAYA: Intellplace Holdings Ltd, a wholly-owned unit of LBS Bina Group Bhd, yesterday signed a memorandum of understanding (MoU) for the sale of the groups equity in two of its companies involved in golf club operations and property developm…..
Upside potential for AEON
WE downgrade our recommendation from buy to hold due to little upside catalyst at this stage and low dividend yield as support. However, AEONs share price is up an impressive 33% year-to-date and has breached our target price of RM8.70……
Haitong considers early book close on HK offer
HONG KONG: Haitong Securities Co Ltd, Chinas second-biggest brokerage by assets, could close the order book for its up to US$1.77bil Hong Kong stock offering one day ahead of schedule after getting more than enough orders from investors, sources wit…..
Public Bank earnings rise
PETALING JAYA: Public Bank Bhd has recorded a 6.42% rise in net profit to RM940.81mil in its first quarter ended March 31 from RM884.06mil a year earlier, backed by strong annualised domestic loan growth and a lower impaired loan ratio……
Guocoland losses narrows in Q3
PETALING JAYA: The Hong Leong group’s property arm Guocoland (M) Bhd posted a narrower loss of RM2.36mil for the third quarter ended March 31 compared with a loss of RM3.64mil in the corresponding quarter a year ago on an increase in earnings c…..
Tesco sales up 12%
PETALING JAYA: Tesco Malaysia has recorded a sales growth of 12% in its 2011/2012 financial year (FY11/12) over the previous year, supported by contribution from new stores as well as aggressive promotions……
OCBC profit 6% higher
PETALING JAYA: OCBC Bank (M) Bhd and its subsidiaries registered over RM1bil in pre-tax profit for its financial year ended Dec 31, 2011, up 5% from the previous year……
Margins boost Seagate Q3 profit
BANGALORE: Higher hard drive prices boosted Seagate Technology Plcs third-quarter earnings, but the electronic storage device maker expects margins to fall as production levels return to normal following floods in Thailand. …..
Intel eyes H2 sales pick-up
NEW YORK: Top chipmaker Intel Corp posted earnings confirming the PC industry is alive but not kicking and said sales would accelerate in the second half of the year with a powerful new PC processor. …..
Concerns over floor price hike for residential properties
PETALING JAYA: Some property consultants are not in favour of a potential move to increase the floor price of residential property for foreign buyers from RM500,000 to RM1mil……
Tradewinds to buy RM510mil property
PETALING JAYA: Agro-based Tradewinds (M) Bhd has signed a sale and purchase agreement (SPA) with Tradewinds Corp Bhd to acquire a 31-storey office building in Kuala Lumpur for RM510mil……
Spore tightens rules for developers
SINGAPORE: Singapore says it will tighten rules to ensure developers reflect the size and layout of apartments more accurately as part of new measures to protect buyers who are less familiar with the property market……
Beijing sees first house price fall since curbs
BEIJING: Chinas average new home price fell last month from a year earlier, the first decline in two years, raising investors hopes that property calming policies may soon be eased……
Daya Materials hopes to venture into O&G upstream
PETALING JAYA: Daya Materials Bhd is hoping to venture into the upstream of the oil and gas sector by acquiring an asset worth US$200mil (RM600mil) to participate in marginal oilfields in Malaysia……
Exim Bank forms strategic partnership with Al Rajhi
KUALA LUMPUR: The Export-Import Bank of Malaysia Bhd (Exim Bank) has entered into a strategic partnership with Al Rajhi Bank Malaysia to assist the country’s small and medium enterprises (SMEs) and corporations to expand overseas, particularly …..
DRB-HICOM partners TATA
PETALING JAYA: DRB-HICOM Bhd’s unit DRB-HICOM Defence Technologies Sdn Bhd (Deftech) has signed a cooperation agreement with India’s TATA Motors Ltd to develop, promote and market TATA military vehicles……
Perodua sales 11% down
PETALING JAYA: Sales of Perusahaan Otomobil Kedua Sdn Bhd (Perodua) vehicles fell 11% in March to 16,000 vehicles versus 18,000 units in the previous corresponding period, mainly due to Bank Negaras responsible lending guidelines implemented this ye…..
Thai rice exports drop, surge in Vietnamese shipment
BANGKOK: Thai rice exports have halved from a year ago due to unrealistically lofty prices caused by government intervention, and prices are likely to stay high until the end of the second quarter which will cause exports to slump, according to trade…..
BHP mines hit by weather, strikes
SYDNEY: BHP Billiton yesterday posted sharp drops in iron ore and coal production key revenue earners for the worlds biggest mining house for the first quarter of 2012 due to bad weather and labour unrest. …..
NZ April consumer confidence picks up
WELLINGTON: New Zealand consumer confidence rose in April, a survey showed yesterday, with households showing more signs of optimism in the coming year, although respondents remained cautious over the longer term as the economy struggles to recover……
BoJ deputy governor signals further easing as rate review nears
OKAYAMA: The Bank of Japan (BoJ) is ready to ease monetary policy further if necessary to help the economy recover and escape deflation, according to a deputy governor, giving the strongest signal yet for additional stimulus since its surprise Februa…..
Bailout for Spain?
BRUSSELS: Economic experts watching Spain dont know how much money will be needed or precisely when, but some are near certain that Madrid will eventually seek a multibillion euro bailout for its banks, and perhaps even for the state itself……
Italy delays balanced budget goal by a year
ROME: Italy will delay by a year its plan to balance the budget in 2013 due to a weakening economic outlook, according to a draft document due to be approved by the cabinet of Prime Minister Mario Monti……
China seen to overtake Canada as Starbucks second largest market
LOS ANGELES: Starbucks Corp is on the rise in China with ambitious expansion plans but like any big new emerging market there are teething problems, not least of which is that customers love it so much, they stay for hours and hours and sometimes don…..
HSBC launching Londons first offshore yuan bond
SHANGHAI: HSBC Holdings PLC says it plans to issue a yuan-denominated bond in London, the first issue of a dim sum bond in the city, marking a milestone in Londons efforts to become a centre for offshore yuan trading alongside Hong Kong……
Tesco unveils £1bil plan
LONDON: Tesco, the worlds No. 3 retailer, says it will spend £1bil (US$1.6bil) this year overhauling its under-performing British business and will rein in expansion as it seeks to win back market share and calm nervous shareholders. …..
LVMH sales up 25% on strong Asian growth
PARIS: LVMH, the worlds biggest luxury goods group, said first-quarter revenue grew 25%, thanks to particularly strong growth in Asia and the United States, as wealthy shoppers shrugged off a tumultuous global economy. …..
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