S&P sees BRIC banks under pressure in 12-24 months
Standard and Poor’s Ratings Services expects banks in Brazil, Russia, India, and China (BRIC) to possibly come under pressure over the next 12-24 months……
Markets fall on China slowdown worries
Key Asian markets fell in the morning on Wednesday on worries about the fallout from a slowdown in China’s economic growth which was compounded by the eurozone crisis……
KPJ dips, IHH advances on trading debut
Shares of KPJ Healthcare slipped on Wednesday after the recent rally in its share price while IHH Healthcare, which made its trading debut, offered an alternative listed investment in the industry……
Maybank IB Research maintains Neutral on plantations
Maybank Investment Bank Research is maintaining its Neutral view on the plantations sector over the next 12 months and retained its average crude palm oil (CPO) average selling price forecasts of RM3,150 for 2012 (first half of 2012: RM3,200), and RM…..
Oil down in Asia as eurozone woes keep up
SINGAPORE: Oil prices fell in Asian trade Wednesday as persistent worries over the eurozone’s debt crisis hit sentiment, analysts said……
China’s economy to rebound in second half: IMF
BEIJING: China’s economy will rebound in the second half of 2012 to achieve annual growth of eight percent as government policies to spur growth take effect, the International Monetary Fund said Wednesday……
KLCI extends losses, IHH in focus
Blue chips extended their decline for the third day on Wednesday, July 25, 2012, tracking the decline in key regional markets on growing worries about the Europe debt crisis……
IHH Healthcare looks towards China, HK (Update)
Asia’s largest hospital operator IHH Healthcare Bhd, which made its debut on Bursa Malaysia and Singapore Exchange on Wednesday, is looking towards expanding in China and Hong Kong……
IHH Healthcare sees bids at RM3.01
IHH Healthcare Bhd, which will be listed on Bursa Malaysia on Wednesday, is expected to open at a firm premium over its institutional price of RM2.80……
Autoair jumps on takeover offer
Shares of Autoair Holdings Bhd rose sharply to a high of 21.5 sen jumped in early trade on Wednesday after it received a takeover offer at 23 sen cash a share……
Apple blames quarterly miss on earnings on new model anticipation, economy
SAN FRANCISCO: Apple Inc’s results fell short of Wall Street’s expectations as the European economy sagged and consumers held off on buying its flagship iPhone ahead of a new version expected in the fall, hitting its stock price……
Korean takeover of ING’s M’sian insurance business?
PETALING JAYA: ING is in the advanced stages of disposing of its Malaysian insurance business to a South Korean insurer as part of its Asian insurance and investment management divestment operations, according to a source familiar with the matter. Th…..
RHB Research downgrade Adventa to market perform
RHB Research Institute has retained its earnings forecast for glove maker Adventa but lowered its fair value to RM2 from RM2.10. …..
TH Plantations to double its land bank via a RM535.64mil deal
PETALING JAYA: TH Plantations (THP) Bhd is looking to double its plantation land bank via a RM535.64mil deal with its major shareholder Lembaga Tabung Haji (LTH)……
Britain’s economy seen stuck in recession in Q2 ahead of Olympics
LONDON: Britain is braced for gloomy figures on Wednesday that look set to show the country still mired in recession ahead of the London Olympics, as the euro zone debt crisis, public spending cuts and an extra holiday weighed on the economy in the s…..
Axis REIT: High KL property prices driving investors away
KUALA LUMPUR: Axis Real Estate Investment Trust (REIT) Managers Bhd views the property market in the Klang Valley as saturated and high land prices are driving potential investments away into fairly newer but cheaper areas……
GLOBAL MARKETS-Stocks, euro fall on European debt fears
NEW YORK: Stock markets fell and the euro hit a two-year low on Tuesday as rising Spanish borrowing costs drove Madrid closer to a full-scale bailout, while Greece’s membership in the euro zone was at risk as its finances appeared to be off its aid p…..
Palm oil prices to remain bullish
SANDAKAN: Palm oil prices are to remain bullish in the next five months due to the crop-damaging weather in the United States, Indias doubling of taxes on refined products and the approaching El Nino phenomenon……
HDBSVR sees regional markets under more pressure
Hwang DBS Vickers Research expects regional markets to probably face more selling pressure on Wednesday after Wall Street ended in the red last night……
Eyes on Langat 2 water treatment plant tender
PETALING JAYA: While the Selangor water problems get tossed in political heat, industry players are keeping their eyes peeled for any forthcoming government tender for the construction of the Langat 2 water treatment plant……
Johor Port to attract more companies to Tanjung Bin centre
JOHOR BAHARU: Johor Port aims to attract more players to Tanjung Bin Petrochemical and Maritime Centre (Tanjung Bin) in its efforts to make it the new business centre for international oil traders in the region……
Local ports handled 5% more containers in H1
PETALING JAYA: Malaysian ports handled 4.9% more containers in the first half of 2012 with container traffic rising to 10.33 million TEUs (20-foot equivalent units) compared to 9.85 million TEUs in the previous corresponding period……
Medical industry players should prove their mettle in the local market first
MEDICAL devices as exports are still a relatively new area which can be expanded further as the sector is not yet saturated. However, there are many factors to consider for the new person on the block or any company looking to venture into this secto…..
Earning the trust of foreign and local medical institutions
TRUST is a big word in the medical devices industry it has the power to make or break a manufacturers business anywhere……
Ministry approves diploma course
PETALING JAYA: The Higher Education Ministry has approved the diploma in business administration programme offered by Asean Metropolitan University College, formerly known as the Masterskill University College of Health Sciences……
Adventa gets revised takeover offer from Aspion
PETALING JAYA: Adventa Bhd has received a revised takeover offer from Aspion Sdn Bhd, which will exclude the shares in two companies – Sun Healthcare (M) Sdn Bhd and Electron Beam Sdn Bhd……
DiGi hit by stiff IDD competition
REVENUE and depreciation surprises were behind DiGis first half (ended June 30) core net profit shortfall of 5% relative to our forecast and 9% relative to market……
Autoair MD makes offer
PETALING JAYA: Autoair Holdings Bhd group managing director Datuk Liew Choo has made a conditional takeover offer for the remaining ordinary shares of RM1 each in the company not already held by Liew and the persons acting in concert for a cash consi…..
Green light for VTI regularisation plan
PETALING JAYA: Bursa Securities has approved VTI Vintage Bhd’s proposed regularisation plan following an appeal by the company, which faced delisting……
Axiata buys 51% stake in DMSB
PETALING JAYA: Axiata Group Bhd, through wholly-owned subsidiary company Celcom Axiata Bhd, has acquired 51% stake in Digital Milestone Sdn Bhd (DMSB)……
RAM assigns preliminary AA2 rating on Tanjung Bin Power bonds
PETALING JAYA: RAM Ratings has assigned a preliminary AA2 long-term rating to Tanjung Bin Power Sdn Bhd’s proposed sukuk ijarah programme of up to RM4.5bil in nominal value (2012/2029) with the long-term rating having a stable outlook……
Kirin, F&N line up advisers for takeover battle for prized Singapore brewery
SINGAPORE: Japans Kirin Holdings and Singapores Fraser and Neave (F&N) have hired investment banks to advise them through the takeover battle for a prized Asian beer maker, adding to signs that a bidding war will intensify in the coming days……
Public Bank in for healthy growth, but analysts caution over increasingly challenging operating environment
PETALING JAYA: Public Bank Bhds financial results for the first half ended June 30 were within expectations and the bank is expected to record healthy earnings growth this year, analysts said……
Globetronics Q2 profit up 29%
PETALING JAYA: Globetronics Technology Bhd posted a 29.3% year-on-year jump in net profit to RM9.7mil for its second quarter ended June 30, 2012. The improved performance was mainly due to higher volume loadings, it said……
Thailands PTT E&P Q2 earnings disappoint
BANGKOK: Thailands top oil and gas explorer, PTT Exploration and Production Pcl (PTT E&P), missed market expectations with a 31% fall in quarterly net profit, highlighting the need for the energy company to ramp up production and bolster sales……
Swatch shrugs off cooler top-end China sales
ZURICH: Swatch Group, the worlds biggest watchmaker, reported a strong rise in profit for the first half of the year and struck an upbeat note for the months ahead, saying it expected worldwide growth in all segments……
India trying to force concession out of major CPO producers to support its refining sector
INDIAS recent decision to impose higher import tax structure on processed palm oil products came as no big surprise to many industry observers……
Energy Ministry aims to use remaining RM700mil
KUALA LUMPUR: The Energy, Green Technology and Water Ministry expects to utilise the remaining RM700mil fund under the Malaysia Green Technology Financing Scheme by year-end……
MAA, 4As and MSA work together for first time to overcome shortage of quality talent
PETALING JAYA: The three biggest associations representing the marketing communications industry have for the first time come together to tackle the shortage of quality talents by introducing a graduate fellowship programme……
EPP2 on track to meet 8,000 new jobs target
PUTRAJAYA: The entry point project 2 (EPP2) of the business services National Key Economic Area is on track to meet the target of creating 8,000 new jobs in the shared services and outsourcing (SSO) sub-sector for this year despite the global economi…..
MRCB CEO Razeek resigns
PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) CEO Datuk Mohamed Razeek Hussain has resigned from the company to join another organisation……
Au Yoong appointed RHB Bank director
PETALING JAYA: RHB Bank has appointed Vince Au Yoong director (retail banking) effective June 1……
Cambodia okays OSK proposal to dispose of investment
PETALING JAYA: The Securities and Exchange Commission of Cambodia has approved OSK Holdings Bhds (OSKH) proposed disposal of 100% equity interest in OSK Investment Bank Bhd to RHB Capital Bhd……
Tanco subsidiary sells PD land
PETALING JAYA: Tanco Holdings Bhd told Bursa Malaysia that its wholly-owned subsidiary, Palm Springs Development Sdn Bhd, had entered a sale and purchase agreement with Nouvelle Hotel Sdn Bhd for the proposed disposal of 24 pieces of freehold and vac…..
China to let insurers boost PE investment
SHANGHAI: China plans to double the amount insurers can invest in private equity and allow them to trade financial derivatives both at home and abroad as part of efforts to broaden their investment scope, according to a set of draft regulations seen …..
Production data in China pick up
BEIJING: Chinas manufacturing activity contracted at its slowest pace in five months in July, an independent survey showed……
Moodys changes outlooks for Germany, Netherlands and Luxembourg
NEW YORK: Moodys Investors Service changed its outlook for Germany, the Netherlands and Luxembourg to negative from stable as fallout from Europes debt crisis cast a shadow over the eurozones top-rated countries……
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