Faber to expand IFM services in Malaysia, overseas
Faber Group Bhd is looking to expand its integrated facilities management (IFM) hospital support services in Malaysia and also overseas……
Banks lift KLCI, regional markets higher
Regional markets rose in the morning session on Wednesday on investors’ expectations that the Chinese government would take steps to boost its economy while at Bursa Malaysia, some buying of banks gave the FBM KLCI a boost……
Report: Google to unveil US$199 tablet this week to challenge iPad
NEW YORK: Google Inc plans to unveil a US$199 tablet co-branded with Taiwan’s Asustek Computer Inc at its developer conference this week, taking direct aim at Apple Inc’s iPad, Bloomberg reported, citing two people familiar with the matter……
MMHE secures RM278m contracts from Sarawak Shell
Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) has secured three contracts from Sarawak Shell Bhd worth RM278mil to build the topside, process module and jacket for its oil and gas operations……
Maxis inks partnership with 14 content providers
Maxis Bhd is teaming up with 14 content providers to provide content for its IPTV services and gradually extend it to the on-demand services……
MTD Construction to start work on MRT project by August
MTD ACPI Engineering Bhd’s subsidiary MTD Construction Sdn Bhd expects to start work on the viaduct work package worth RM499.98mil for the MRT Sungai Buloh-Kajang (SBK) line by August……
Blue chips rebound, consumer stocks lead
Blue chips rebounded in late morning on Wednesday, again with selected consumer dividend stocks among the gainers, while regional markets were mixed……
Muhibbah falls on APH bad debt provision expectations
Shares of Muhibbah Engineering Bhd fell in active trade on Wednesday on expectations that it would have to make a provision for Asian Petroleum Hubs (APH) bad debts this year……
CIMB Research: HELP International remains an Outperform
CIMB Equities Research has raised the target price of HELP International to RM2.52 from RM2.25 after delivering solid interim results……
GLOBAL MARKETS-Stocks up, euro dips as technicals offset Spain worry
NEW YORK: Wall Street stocks rose and the euro fell to its lowest level versus the U.S. dollar in over two weeks on Tuesday, as technical buying offset a near tripling in Spanish debt costs on doubts a European summit can ease the region’s debt crisi…..
U.S. charges 24 people in massive hacking sting spanning 4 continents
NEW YORK: U.S. law enforcement officials on Tuesday said 24 suspected hackers had been arrested in a sting operation spanning four continents that targeted online financial fraud of stolen credit card and bank information……
CIMB Research downgrades Muhibbah to trading sell
CIMB Equities Research has downgraded Muhibbah Engineering from a Trading Buy to a Trading Sell on expectations the latter would have to make a provision for Asian Petroleum Hubs (APH) bad debts this year……
HDBSVR sees marginal positive bias for KLCI
Hwang DBS Vickers Research (HDBSVR) sees the FBM KLCI striving to recover some of its losses from Tuesday after the index fell below the psychologically-important 1,600 level……
HDBSVR has Buy on UMW, TP RM10.15
Hwang DBS Vickers Research (HDBSVR) has a Buy recommendation on UMW Holdings Bhd with a target price of RM10.15 after it announced plans to expand its drilling operations……
TNB, Govt to discuss extra RM1.6bil gas bill
KUALA LUMPUR: Tenaga Nasional Bhd (TNB), which is getting imported gas in two months time, is talking to the Government on an extra RM1.6bil that will be charged under the market pricing portion of the deal……
Fight for cellular subscribers for home services will get tough
PETALING JAYA: The fight among cellular companies for subscribers in home services segment will only get tough when Maxis Bhd and Celcom Axiata Bhd are able to offer a complete products and that may take some time, experts said……
Puncak AGM turns ugly
PETALING JAYA: The annual general meeting (AGM) of Puncak Niaga Holdings Bhd turned into a raucous affair as individuals claiming to be minority shareholders of the company carried placards urging the company to seek legal action to reclaim monies ow…..
Ar-Rahnu a key part of Pos Malaysias transformation
ISLAMIC pawn broking, otherwise known as Ar-Rahnu, is a concept not altogether familiar among the masses but that may change when Pos Malaysia Bhd rolls out the service at its 700 plus outlets nationwide……
New tax rules create a quandary for lending to family members
CHARGING below market interest gets you in trouble with the taxman or the law against money-lending……
Scomi monorail project in Brazil to commence next month
KUALA LUMPUR: Scomi Group unit, Scomi Engineering Bhd, will commence construction of a monorail project in Sao Paolo, Brazil, next month, said group chief executive officer Shah Hakim Zain. …..
Scomi Marine plans to spend US$45m to buy 2 vessels
KUALA LUMPUR: Scomi Marine Bhd plans to spend US$45mil to buy two new vessels to increase the efficiency of its offshore support services division, said president Mukhnizam Mahmud……
UMW expanding drilling operations
KUALA LUMPUR: UMW Holdings Bhd is investing US$214mil (RM684mil) to expand its drilling operations with the acquisition of offshore contractor S.D. Standard Drilling Plcs unit and a mobile drilling rig……
MRT Corp likely to award two viaduct packages
KUALA LUMPUR: Two viaduct packages worth close to RM2bil for the nations biggest infrastructure project, Klang Valley My Rapid Transit (KVMRT), are expected to be awarded tomorrow……
Johor Sultan on FDI trip to China
BEIJING: In a move aimed at attracting investments into Johor and to study Chinas technology-driven infrastructure projects, Johor Sultan Ibrahim Sultan Iskandar recently visited the offices of China Railway 18th Construction Bureau Co Ltd (CR18G)……
Declining prices make LED TV popular, taking up 37% of market
PETALING JAYA: Television set purchasing trends have leaned towards those with light-emitting diode (LED) backlit or Internet connectivity features, according to market research company GfK Malaysia……
Felda Global Ventures aiming to be among world’s top five commodities giants
WITH a strong net cash position of RM3bil upon its listing, Felda Global Ventures Holdings Bhd (FGVH) is actively looking for more plantation asset acquisitions in the South-East Asian and African regions, as well as expansion of its downstream busin…..
Astro asks banks for RM3.2bil IPO mandates
SINGAPORE: Pay-TV operator Astro All Asia Networks has asked banks to submit proposals for mandates to advise on its US$1bil (RM3.2bil) initial public offering in Kuala Lumpur, IFR reported……
Muhibbah now in deeper end
PETALING JAYA: Muhibbah Engineering Bhd’s financials would likely continue to suffer as CIMB Bank Bhd has pulled out from a debt restructuring for Asia Petroleum Hub Sdn Bhd (APH), delaying APH’s payment for construction works done by Muh…..
IGB Corp to fund growth with REIT listing proceeds
KUALA LUMPUR: IGB Corp Bhd is expecting to raise some RM800mil in cash from the upcoming listing of its retail real estate investment trust (REIT), which is expected to happen in mid-August……
Maybank Kim Eng Thai, Philippine ops win FinanceAsia’s Best Broker award
KUALA LUMPUR: Maybank Kim Eng’s Thailand and Philippines operations have been awarded Best Broker by FinanceAsia in its Country Awards……
TSH unit launches takeover offer
KUALA LUMPUR: TSH Resources Bhds indirect wholly-owned subsidiary Bisa Jaya Sdn Bhd, together with Chin Leong Thye Sdn Bhd, Lee Chin Hwa, Lee Min Huat and Lee Sep Pian, has proposed to acquire all the voting shares of RM1 each in Pontian United Plan…..
Board tussle at Apex Equity heats up
PETALING JAYA: Speculation on who will helm Apex Equity Holdings Bhd continues, with sources saying that the fight for control has yet to end, and the counter party headed by Metroplex Bhd possibly calling an EGM……
PBA counts on RM21.3bil investments committed since 2010
GEORGE TOWN: PBA Holdings Bhd expects its revenue to grow and margins to sustain over the next two years despite the global economic challenges……
Key West aborts placement
KUALA LUMPUR: Key West Global Telecommunications Bhd told Bursa Malaysia that it has decided to abort its proposed private placement as it is now an affected listed company under the Guidance Note No. 3 (GN3) of the listing requirements……
Analysts have mixed views on Top Gloves plantation buy
PETALING JAYA: Analysts have mixed views on Top Glove Corp Bhds move to acquire greenfield rubber plantation in Indonesia……
PFCE mandatory general offer may not succeed
KUALA LUMPUR: PFCE Bhd is confident that the take-up of the mandatory general offer (MGO), issued by DAT Group Sdn Bhd (DAT) to acquire the remaining shares that DAT does not already own, will be limited as its shareholders believe in the prospects o…..
Duo guarantee Nur’s sukuk
KUALA LUMPUR: Danajamin Nasional Bhd, Malaysia’s financial guarantee insurer, has formed a collaboration with Maybank Islamic Bhd to co-guarantee Nur Power Sdn Bhd’s RM650mil 15-year sukuk mudharabah facility (Islamic bond)……
PNB declares 6.5 sen income distribution for ASN2
KUALA LUMPUR: Permodalan Nasional Bhd (PNB), via Amanah Saham Nasional Bhd (ASNB), has announced an income distribution of 6.50 sen per unit for Amanah Saham Nasional 2 (ASN2) for the financial year ending June 30……
Glomac FY12 profit jumps 36% on property sales
PETALING JAYA: Glomac Bhd announced a 36.2% jump in its financial year 2012 (FY12) net profit from RM62.98mil to RM85.78mil, attributable to the commendable sales of its prime mixed developments……
Pelikan earnings to improve
PETALING JAYA: Stationery manufacturer Pelikan International Corp Bhd expects to perform well and register positive earnings in the financial year ending Dec 31, 2013……
GBH optimistic on outlook for clay pipes ops
KUALA LUMPUR: Goh Ban Huat Bhd (GBH), which returned to the black in the financial year ended Dec 31, 2011 after five years of losses, is optimistic about the outlook for its clay pipe business……
BB Plaza to make way for MRT station
KUALA LUMPUR: The 38-year-old Bukit Bintang Plaza (BB Plaza) will need to make way for the construction of a My Rapid Transit (MRT) station, contradicting earlier reports that only the front of the property and basement will be needed for development…..
UMLand upbeat on new projects
KUALA LUMPUR: United Malayan Land Bhd (UMLand) is upbeat on its plan to launch about 1,500 units of mixed properties with a gross development value (GDV) of RM1bil this year……
ARREIT selling Wisma UEP
KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) is disposing of its Wisma UEP building to Tenaga Nasional Bhd for RM40mil……
SEGi buys land for RM52mil
KUALA LUMPUR: SEG International Bhd’s wholly-owned unit SEGi Land (M) Sdn Bhd has entered into a conditional sale and purchase agreement with Bandar Setia Alam Sdn Bhd……
Bank Negara on Islamic mega banking licence
KUALA LUMPUR: Bank Negara said applications for Islamic mega bank licences are market-driven and private sector-led……
HSBC beats CIMB as sukuk sales head for record
KUALA LUMPUR: HSBC Bank Plc, which surpassed CIMB Group Holdings Bhd as the top Islamic bond arranger this year after dominating sales in the Persian Gulf, is predicting lower borrowing costs will drive record issuance in 2012……
DBS takeover may just scrape through with US$7.2bil deal
SINGAPORE: The gloom surrounding DBS Groups US$7.2bil bid for Indonesias Bank Danamon is giving way to renewed optimism, with signals from the central bank in Jakarta suggesting the Singapore lenders takeover may just scrape through……
Cyprus seeks EU bailout for banks, budget deficit
NICOSIA: Cyprus said it was applying to Brussels for a bailout, both for its banking sector hit by exposure to Greece and for its budget deficit, making it the fifth eurozone country to turn to the blocs rescue funds for help……
Palm oil sector players told to brace for challenges ahead
KUALA LUMPUR: Diverse issues on palm oil such as limited land supply, labour shortage, biomass utilisation, food security, certification standards, development in Indonesias oil palm sector as well as Africa as the new frontier in global oil palm cu…..
Planters warned of ‘roadblocks’
KUALA LUMPUR: Kalimantan, Sumatra and Papua in Indonesia still offer huge prospects in oil palm ventures both in the upstream and downstream operations for investors but they must carefully mitigate the roadblocks in the Indonesian palm oil industry…..
Sarawak Oil Palms commissions refinery and fractionation plant
KUCHING: Sarawak Oil Palms Bhd (SOP), which has ventured downstream in palm oil processing, has just commissioned its first refinery and fractionation plant as well as kernel crushing plant in Bintulu……
Germany must change its cant do attitude, says Soros
LONDON: Germany must change its cant do policy against immediately forging a consolidated European fiscal and banking union, or risk becoming the centre of an empire responsible for the eurozones collapse, billionaire George Soros said……
Facebook taps Sandberg to be first woman on board
SAN FRANCISCO: Facebook Inc named chief operating officer Sheryl Sandberg a director on Monday, elevating the first woman to a board that includes seven men……
Analysis: High costs, delays, and tough timing vex Barclays’ Asia plan
Three years into Barclays’ costly global expansion from fixed-income shop to full investment bank, the Asia leg of the build-out is struggling to gain ground on its rivals……
Zynga plans to build a gamers’ social network
SAN FRANCISCO: Zynga Inc unveiled a social network for gamers dubbed “”Zynga with Friends”" on Tuesday, hoping to wean itself from a longstanding, symbiotic relationship with Facebook Inc that has shaped two of Silicon Valley’s closely watched Intern…..
UK car insurers head for 20-year losing run
LONDON: Britain’s motor insurance industry is unlikely to return to profitability before 2014, extending its loss-making run to 20 years, consultants Ernst & Young said on Wednesday……
Steinhardt says hysteria on Europe unwarranted
Michael Steinhardt, one of the legends of the hedge fund industry, thinks there’s too much hysteria these days about the euro zone blowing up……
Mystery ahoof as U.S. cattle dying after eating grass
DALLAS, Texas: A mystery is ahoof in Texas farm country where cattle have dropped dead while grazing, puzzling scientists who say it appears an unusual combination of circumstances have turned pastures toxic……
China’s Wen offers US$10bil Latin America credit line
SANTIAGO: Chinese Premier Wen Jiabao wrapped up a tour of resource-rich Latin America on Tuesday by offering $10 billion in credit for infrastructure projects and calling for a joint push to combat protectionism……
Analysis: Teamwork, controls yield rare comeback for MFS
BOSTON: For the rare comeback story among money managers, look to MFS Investment Management, one of the oldest names in the mutual fund business but also one of the most battered after the Internet bubble popped in 2000. Getting caught up in the indu…..
Analysis: Global steel glut feeds trade skirmishes
NEW YORK/LONDON: Steel producers from around the world are trading allegations that rivals are dumping cheap metal on the market, threatening to trigger a series of mini-trade wars……
Oil supply surge could risk price collapse: Harvard analysis
WASHINGTON: Global oil supplies are growing so fast that they could outstrip demand and lead to a collapse in world prices, a former energy executive who is now a Harvard research fellow said on Tuesday……
Falling oil prices put Iran over U.S. sanctions barrel
WASHINGTON: For most of this year, the threat of tough U.S. sanctions on Iran, the world’s third-largest oil exporter, helped push crude oil prices higher and higher, adding a menacing headwind for struggling global economies……
China unveils new policies for Hong Kong ahead of anniversary
BEIJING: Beijing will promote the further development of the offshore yuan market in Hong Kong as part of a new package of policies for the territory ahead the fifteenth anniversary of its return to China, the official Xinhua agency said on Wednesday…..
Nomura shareholders re-appoint CEO, brush off insider probe
TOKYO: Nomura Holdings Inc shareholders re-elected CEO Kenichi Watanabe on Wednesday despite a protracted insider trading probe that has raised questions about his leadership of Japan’s largest investment bank……
Groupon’s China unit to merge with Tencent deal site
SHANGHAI: Groupon Inc’s Gaopeng China joint venture with Tencent Holdings will merge with another Chinese daily-deal website to form a new company, Gaopeng said……
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