June global chip sales dip on-month, down 2% on-year
Global sales of semiconductors dipped 0.1% to US$24.38bil in June 2012 from US$24.40bil in May, mainly due to a decline in Europe and the Americas, according to the Semiconductor Industry Association (SIA)……
FGV slightly higher, CIMB sees growth prospects
Shares of Felda Global Ventures Bhd (FGV) were slightly higher in late morning trade on Monday at RM5.06 while CIMB Equities Research viewed the stock offered growth prospects……
Blue chips climb in early trade, KLCI at 1,640
Blue chips started the week on a strong note on Monday, with the FBM KLCI above the 1,640 level in early trade, underpinned by gains in telcos……
F&N Malaysia, Singapore advance in early trade
Shares of Fraser & Neave Holdings Bhd (F&N Malaysia) extended its gains in early trade on Monday while its major shareholder Fraser & Neave Ltd (F&N Singapore) jumped when it resumed trading……
HDBSVR sees KLCI crossing 1,635
Hwang DBS Vickers Research said there is a chance for the benchmark FBM KLCI to cross over the immediate resistance level of 1,635 and make its way towards the next resistance target of 1,650 on Monday……
CIMB Research upgrades F&N Ltd to Outperform
CIMB Equities Research has upgraded Singapore listed F&N Ltd from Neutral to Outperform as it sees potential for more corporate actions, special dividends if APB is sold and reinvestment upside driving up the share price……
Kenanga Research positive on IJM Land UK venture
Kenanga Investment Research is positive on IJM Land Bhd’s venture into the UK with a joint venture to build a five-star hotel, residential apartment, which will have a gross development value (GDV) of £280mil (RM1.4bil)……
CIMB Research ups Muhibbah to Neutral
CIMB Equities Research has upgraded Muhibbah Engineering to Neutral from Trading Sell as the stock has fallen substantially since the downgrade……
Shares, euro rose on US jobs, hopes for Europe action
TOKYO: Asian shares and the euro rose on Monday as a stronger-than-expected U.S. jobs data and emerging optimism for European action on the debt crisis lifted risk appetite, although caution remains until concrete steps are taken, which may be weeks …..
RM2.8bil spent on infrastructure projects in Iskandar in last 5 years
ISKANDAR Malaysia (IM) will celebrate its sixth anniversary on Nov 4. The current five-year period (2011-2016) is the second phase of the master plan, which will focus on delivering and ensuring the development from phase one is able to create more o…..
Silver Bird’s suit shocks accountants; may result in higher audit fees
PETALING JAYA: The legal suit taken by Silver Bird Group Bhd against its auditors has surprised the accounting fraternity although such suits have become common in countries like the United States, industry players said……
CEO: RM95.5bil committed investments in Iskandar, RM41.35bil realised
JOHOR BARU: Interest in Iskandar Malaysia from both domestic and foreign investors still remains strong since its inception six years ago despite current uncertainties in the global economic growth……
PM Najib writes on Malaysia’s steady but sure growth
WELCOME to Kuala Lumpur, the IPO town
where bankers are enjoying a boom of breathtaking proportions. This is how one journalist described the recent initial public offerings of Felda Global Ventures Holdings and IHH Healthcare on the Kuala Lumpur…..
Share prices on Bursa and Wall Street seen higher this week
KUALA LUMPUR: SHARE prices on Bursa Malaysia are expected to be higher this week riding on its resilience and defensive appeal amid rising global risk aversion, dealers said……
Transforming wood residues to energy
KUCHING: Major plywood mills in Sarawak are increasingly using wood residues to generate energy for their operations, according to Sarawak Timber Industry Development Corp (STIDC) industrial planning manager Nicholas Andrew Lissem……
Task force needed for SME Masterplan
KUALA LUMPUR: While the Small Medium Enterprise Masterplan 2012-2020 will serve as a roadmap to boost small and medium enterprise (SME) sector over the next eight years, the custodianship of the plan by any single agency should not be encouraged, ind…..
Felda Tenggaroh will become modern township in 2014
KUALA LUMPUR: About 5,000 settlers at Felda Tenggaroh, Johor, and the community in their vicinity, will experience the spill-over effect of development, when the Federal Land Development Authority (Felda) develops the area to become a modern township…..
Chin Well expanding ops
GEORGE TOWN: Chin Well Holdings Bhd, armed with a strong cashflow of RM 22.9mil, is expanding its range of steel fastener products into South-East Asia and Europe despite the weakening global economic climate, Group director Tsai Chi-yun(pic) said……
Clarification
IN Saturday’s StarBizweek’s article The Fast and the luxurious , Eastern & Oriental deputy managing director, Eric Chan was photographed beside a Lamborghini and not as captioned. The error is regretted……
F&N M’sia shares up on rumours Coca-Cola and Kirin eyeing F&N S’pore
WITH Fraser & Neave Ltd (F&N Singapore) having finally decided to give up its beer business over the weekend, the market will now likely be able to make a more sober assessment on what would likely happen next to the non-alcoholic beverage business o…..
Outperform calls on major banks
BANK Negaras June statistics indicate that the banking industry continues to perform. Loan growth rose 12.6% year-on-year (y-o-y), an increase of 13 basis points (bps) from May 2012……
Isa: Rise and fall of FGV share price normal
KUALA LUMPUR: The rise and fall in the share price of Felda Global Ventures Holdings Bhd (FGV) on Bursa Malaysia is normal, said Felda group chairman, Tan Sri Isa Samad……
Bonus/Rights Issues
Bonus/Rights Issues…..
Tokyo stocks to come under pressure this week
TOKYO: Stocks are likely to stay under pressure in the coming week, with worries over the European debt crisis underpinning the safe-haven yens strength and hurting Japanese exporters, analysts said……
No developers selected yet, says Kwasa Land
PETALING JAYA: Kwasa Land Sdn Bhd (Kwasa Land), a wholly-owned subsidiary of the Employees Provident Fund (EPF) on Sunday refuted a news report on EPF and Dijaya may develop RRIM Land.…..
How LLP partnership be taxed?
THE limited liability partnership (LLP) law has come to our shores. The law was gazetted on Feb 9……
CPO market expected to be cautious this week
KUALA LUMPU: Crude palm oil (CPO) futures market is expected to be cautious next week in the absence of market-moving factors, dealers said……
CRubber market seen to be cautious this week
KUALA LUMPUR: The Malaysian rubber market is likely to be cautious this week influenced by the current weak sentiment globally as traders are concerned over the lingering eurozone debt crisis, dealers said……
Tin market facing uncertainty this week
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) trend is expected to be uncertain this week with prices expected to hover between US$17,800 and US$18,000, dealers said……
Sands target of US money-laundering probe
LAS VEGAS: Las Vegas Sands Corp, controlled by billionaire Republican donor Sheldon Adelson, is the target of a federal investigation into possible violations of US money-laundering laws, the Wall Street Journal reported……
Report: ECB saves Greece from bankruptcy
BERLIN: The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in the form of additional emergency loans from the Bank of Greece, German newspaper Die Welt said……
MU to get US$559mil in GM shirt sponsor deal
CHICAGO: Manchester United Ltds deal with General Motors Co to sponsor the hugely popular soccer clubs shirts will bring in US$559mil over the agreements seven-year term, the club said……
Qatar Telecom unit agrees US$406mil tower deal with Tower
DUBAI: Qatar Telecom unit Indosat has concluded a sale and leaseback agreement worth US$406mil with Tower Bersama Infrastructure (TBIG), the Qatari firm said……
German politicians concerned about bigger role for ESM
BERLIN: Politicians in Germanys ruling centre-right coalition have expressed renewed concerns about an increased role for the euro zones permanent bailout fund, which is at the centre of a court case after the German parliament approved it in basic…..
Fired Barclays trader draws scrutiny in Libor probe
NEW YORK: A 30-year-old former Barclays Plc swaps trader in New York, who was fired from the bank in 2010, is among those drawing scrutiny from prosecutors in the deepening scandal over the manipulation of global benchmark interest rates……
Shell looks to pull out some cash from Europe due to crisis
LONDON: Royal Dutch Shell is pulling some of its funds out of European banks over fears stirred by the euro zone’s mounting debt crisis, The Times reported on Monday……
Official Chinese newspaper urges ‘appropriate’ yuan depreciation
SHANGHAI: China’s yuan should depreciate to an “”appropriate”" degree to bolster exports as the economy weakens, an influential state newspaper urged on Monday, in a rare official affirmation of China’s newfound desire to let its currency depreciate …..
CNOOC signs US$1.56 bln domestic coalbed methane deal
HONG KONG: CNOOC Ltd, China’s largest offshore oil producer, has signed a deal to spend 9.93 billion yuan (US$1.56 billion) to explore for coalbed methane (CBM) in China over the next five years as part of a 30year agreement……
Strong third Indian party could be gamechanger
MUMBAI: Anticorruption campaigner Anna Hazare appears to be developing his own party……
Australia July job advertisements fall 0.8%
SYDNEY: Australian job advertisements in newspapers and on the internet dipped 0.8 percent in July, a fourth straight month of losses that point to some softening in labour demand, a survey showed on Monday……
Crude oil remains above US$91 after robust US jobs data
SEOUL: U.S. crude oil futures slipped on Monday but stayed above US$91 a barrel after rallying on a strongerthanexpected U.S. jobs report, while the market awaited Chinese trade data due later this week for trading cues……
Australia inflation gauge benign despite tax bump
SYDNEY: A private gauge of Australian inflation rose only modestly in July even as the introduction of a controversial carbon tax sharply lifted utility costs, with price pressures elsewhere very subdued……
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