Europe shares extend rally on hopes of ECB action
PARIS: European stocks rose early on Monday, rallying for a third straight session, propelled by mounting expectation the European Central Bank this week will unveil fresh measures to ease the tension surrounding the borrowing costs of Spain and Ital…..
Maybank optimistic of maintaining BII stake
Malayan Banking Bhd (Maybank) is optimistic of maintaining its stake in Bank Internasional Indonesia (BII), in respect of Bank Indonesia’s new shareholding requirement for commercial banks in that country……
AirAsia’s Jakarta move a business decision, says Rafidah
Malaysians should not be parochial on AirAsia’s decision to relocate its Asean base to Jakarta as it is a move to regionalise the no-frills airline, says AirAsia X Chairman Tan Sri Rafidah Aziz……
Asahi Group’s unit Permanis launches RM40m bottling line
Asahi Group Holdings Ltd’s Malaysian unit Permanis Sdn Bhd had on Monday launched a RM40 million state-of-the-art bottling line in Bangi, Selangor to complement the six carbonated soft-drink lines……
Sarawak Plantation records RM5.4m gain from land sale
Sarawak Plantation Bhd recorded a profit of RM5.46mil from the sale of 23,340 sq metres of land in Kemena land district for RM7.2mil……
Navis Capital sells Indonesian English language education biz
Malaysia-based Navis Capital Partners has sold its Indonesian English-language education business, PT Efficient English Services (EES), for US$16.30mil (RM513.64mil)……
Tenaga, BAT drag KLCI into the red
Tenaga and BAT dragged the FBM KLCI into the red at midday on Monday as investors took profit on recent gainers but the selling was well absorbed with the broader market still displaying its resilience……
Malaysia to boost tax free palm oil quota by 2m tonnes
Malaysia will increase shipping quotas for tax free crude palm oil by up to 2 million tonnes this year to help planters cope with higher output in the next few months, government sources said, as the world’s No.2 supplier struggles to maintain its ex…..
MRCB advances on property acquisition news
Shares of Malaysian Resources Corp Bhd (MRCB) rose to a high of RM1.78 in late morning on Monday on news that it was on the lookout to acquire property and that it could clinch contracts under the KL Mass Rapid Transit (KL MRT)……
Sime, TM lead blue chips up in early trade
Heayweights Sime Darby and Telekom Malaysia led blue chips higher in early trade on Monday, as sentiment was boosted by key Asian markets and the strong Wall Street performance……
CIMB Research maintains trading buy on MRCB
CIMB Equities Research is maintaining a Trading Buy on Malaysian Resources Corp Bhd with a price target of RM2.02……
Shares extend gains on stimulus hopes
TOKYO: Asian shares extended their gains on Monday, supported by expectations the Federal Reserve and the European Central Bank will deliver new measures to underpin their fragile economies……
RHB Research downgrades semicon sector to Neutral
RHB Research Institute has downgraded the semiconductor sector to Neutral as it sees the recovery losing steam……
HDBSVR sees KLCI staging recovery
Hwang DBS Vickers Research expects the FBM KLCI, which fell 1.1% last week, to recover on Monday and head towards the 1,635 resistance……
S&P affirms Malaysia’s ratings with stable outlook
PETALING JAYA: Standard & Poor’s Ratings Services (S&P) has affirmed Malaysia’s “A-/A-2” foreign currency and “A/A-1” local currency sovereign credit ratings with the outlook on the long-term rating remaini…..
Whats M’sian billionaire Ananda Krishnan really up to?
ANYTHING that involves the media-shy T. Ananda Krishnan, the countrys second-richest person after Tan Sri Robert Kuok, will always be of interest, not just to investors and the media who avidly follow his every corporate move but also to the public …..
Share prices on Bursa may stage technical rebound this week
KUALA LUMPUR: SHARE prices on Bursa Malaysia may stage a technical rebound this week, underpinned by improved global sentiment, dealers said……
Players: Palm oil price will remain strong
PETALING JAYA: Local plantation players say crude palm oil (CPO) is still fundamentally strong with the average price this year expected in the range of RM2,800 to RM3,000 per tonne……
Developments in S’pore may impact M’sia banking scene
KUALA LUMPUR: A recent issuance of banking licences in Singapore may have some implications on the Malaysian banking system, according to industry sources……
KL-S’pore high-speed rail project expected to commence soon
High-Speed Rail (HSR) project linking Kuala Lumpur to Singapore is expected to commence soon…..
Refocusing Govts role in business
ONE of the complaints that we regularly get about our economic transformation is that the Government is too heavily involved in business; it has too many Government-linked companies (GLCs) and that these companies are being given preference over othe…..
Shared services and outsourcing set to flourish in current uncertainty
PETALING JAYA: Shared services and outsourcing (SSO) have the potential to grow despite global economic uncertainties……
Saviours of the millers
GEORGE TOWN: South-East Asias palm oil, energy, construction, and automotive industries are playing a key role in cushioning the impact of the global slowdown on local manufacturing companies……
RHB Bank plans to boost customer base
KUALA LUMPUR: RHB Bank Bhd, whose retail banking currently contributes between 40% and 50% of the groups revenue, is aggressively looking to enlarge its customer base in a bid to have a stronger foothold in retail banking……
Expect surprises when expanding, banks told
KUALA LUMPUR: Banks and financial institutions have to tread carefully when expanding their turf in Malaysia or elsewhere as deficiencies in the regulatory environment can throw up surprises, according to experts at a recent local banking summit……
Banks bristle at former Citigroup CEOs breakup call
NEW YORK: Sandy Weill has a lot of convincing to do. The former Citigroup Inc CEO, who was in many ways the architect of the too big to fail giant bank system, dropped a bombshell on Wall Street on Wednesday by proposing that universal banks should…..
Khazanah unit restaurants where ‘you can eat side-by-side with animated Lat characters’
PETALING JAYA: Themed Attractions and Resorts Sdn Bhd (TAR), a wholly owned subsidiary of Khazanah Nasional Bhd, plans to open theme restaurants based on cartoonist Lats beloved characters in Johor and Kuala Lumpur……
CMS Cement says will not raise price
KUCHING: CMS Cement Sdn Bhd, Sarawak’s sole cement producer and manufacturer, will not raise the price of cement despite recent reports of a nationwide cement price hike, Cahya Mata Sarawak Bhd group managing director Datuk Richard Curtis said……
Palm oil prices seen to trend lower this week
KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives are likely to be lower this week on concerns that the lingering European debt crisis will dampen demand growth from major economies, dealers said……
Tin price likely to climb this week
KUALA LUMPUR: The tin price on the Kuala Lumpur Tin Market (KLTM) will likely be higher this week on buying interest from European buyers, dealers said……
UOA on Forbes’ 200 Best Under A Billion list
PETALING JAYA: UOA Development Bhd has made it to the Forbes Asia’s 200 Best Under A Billion list, which is made up of small and medium enterprises in the Asia-Pacific region……
Bonus/Rights Issues
Bonus/Rights Issues…..
Wall Street waiting for ECB and US Fed action this week
NEW YORK: INVESTORS face US and European central bank meetings this week hoping to see fresh action to spur economies damaged by the eurozone sovereign debt crisis……
Tokyo market waiting fr ECB and US Fed stimulus this week
TOKYO: INVESTORS in Tokyo are looking to the European Central Bank and US Federal Reserve for further stimulus measures this week but worries over the high yen could drag down sentiment……
London investors to focus on Bank of England and ECB decisions
LONDON investors set to focus on key monetary policy decisions from the Bank of England and the European Central Bank, alongside the latest raft of company results……
General Motors has ousted global marketing chief
NEW YORK: General Motors Co ousted its global marketing chief Joel Ewanick a little more than two years after he joined the company, the largest U.S. automaker said on Sunday……
HSBC faces U.S. compliance issues, Libor scrutiny
LONDON: The threat that HSBC faces a big U.S. fine for lax controls in its anti-money laundering systems and the risk it will be pulled deeper into an interest rate manipulation probe are set to overshadow strong half-year profits on Monday……
Billionaire Bill Gates flies in to hail “”amazing”" Hsing
LONDON: American Ariel Hsing’s Olympic table tennis campaign ended in defeat on Sunday but the teenager was hailed as “”amazing”" by supporter and Microsoft founder Bill Gates who embraced her after she came off court……
NBC gets Twitter backlash over Olympics, but record TV audience
LOS ANGELES: NBC on Sunday announced more record audiences for its prime-time TV coverage of the London Olympics, even as the Twitterverse erupted in complaints about the U.S. network’s online streaming efforts and delays in broadcasting key competit…..
British bank RBS braced for Libor rigging fine
LONDON: British bank RBS is braced to be punished over its role in the interest-rate rigging scandal that has rocked the industry, Chief Executive Stephen Hester said in an interview with The Guardian newspaper……
Massive India blackout leaves 300 million without power
NEW DELHI: A massive grid failure in Delhi and much of northern India left more than 300 million people without electricity on Monday in one of the worst blackouts to hit the country in more than a decade……
Banks urge US Congress to extend crisis-era deposit insurance
NEW YORK: The expiration of special U.S. deposit insurance at the end of the year has spurred banks to lobby Congress to extend the program out of fear that companies will withdraw billions of dollars……
“”Greyjing”"? Air pollution fouls Beijing’s name
BEIJING: With its parks, centuries-old palaces, history and culture, Beijing should be one of the more pleasant capitals of the world. Instead, it’s considered among the worst to live in because of chronic air pollution……
Turkey Q2 tourism revenues rise 3.8 pct to US$5.58bil
ISTANBUL: Turkey’s tourism revenues rose 3.8 percent yearonyear in the second quarter to $5.58 billion, the Turkish Statistics Institute said on Monday……
Shanghai shares close down 0.9% at near 41mth low
Shanghai: Shanghai shares closed at their lowest in nearly 41 months on Monday, with small and mediumcap stocks taking the take brunt of falls after the Shanghai Exchange said it planned to speed up and simplify delisting rules in a bid to deter spec…..
Sumitomo Mitsui Financial Q1 profit falls 43%
TOKYO: Sumitomo Mitsui Financial Group on Monday reported a 43 percent fall in its financial first quarter profit, dragged down by impairment losses on its equity portfolio amid a market slump…..
Danish industry outlook improves in July
COPENHAGEN: The nearterm outlook for Danish manufacturing industry improved in July, the national statistics office said on Monday……
Seoul shares hit 4-week high
SEOUL: South Korean stocks climbed to a four-week closing high on Monday, buoyed by expectations of further easing measures by global central banks to support growth and tame a deepening debt crisis in Europe……
Fed and ECB stimulus hopes boost Nikkei to 1-week high
TOKYO: Japan’s Nikkei share average firmed on Monday on growing expectations of further stimulus measures from the U.S. Federal Reserve and the European Central Bank this week, with a handful of strong earnings reports also lending support……
Australia shares mark highest close since May, led by banks
SYDNEY: Australian shares rose 0.9 percent on Monday to finish at their highest close since May, as gains in U.S. and European markets amid speculation of further stimulus from central banks lifted the banking sector……
Brent rises toward US$107, stimulus measures eyed
SINGAPORE: Brent crude rose toward US$107 per barrel on Monday, stretching gains into a fifth consecutive day on hopes the United States and Europe will this week announce new measures to shore up their fragile economies, boosting the outlook for oil…..
Japan’s Hitachi Q1 operating profit beats market consensus
TOKYO: Hitachi Ltd, Japan’s largest industrial electronics maker, reported a betterthanexpected quarterly operating profit as strong sales in its power and automotive systems business offset the gloom in Europe and the slowdown in China……
Tribunal: New Zealand should delay state power company sale
WELLINGTON: New Zealand should delay the partial sale of a state power company until indigenous people’s claims over water resources are settled, a government tribunal said on Monday……
India central bank urges corporates to cut foreign exchange speculation
MUMBAI: India’s central bank wants companies to depend less on speculative trades in foreign exchange to generate profits, as it causes volatility in the rupee, and instead focus on their core businesses, a senior official said……
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