India needs time to embrace open sky policy
NEW DELHI: Asia’s third largest economy, India, needs thepolitical will to adapt to the open sky policy with Asean to further boost connectivity.The Institute of Strategic and International Studies Chief Executive, Datuk Dr Mahani Zainal Abidin said …..
DRB-Hicom’s RM1b plan to speed up Proton City development
DRB-Hicom Bhd will expedite development of the Proton City in Tanjung Malim by injecting over RM1bil in the next five years, Menteri Besar Datuk Seri Dr Zambry Abdul Kadir said on Wednesday……
Boilermech in RM20.3m land purchase
Boilermech Holdings Bhd is acquiring a piece of property in, Subang Jaya for RM20.30mil which would enable it to expand it capacity to manufacture boilers……
Blue chips recover some lost ground
Malaysia’s FBM KLCI managed to close higher on Wednesday, recouping half of the losses the previous day, on some fund buying of selected key stocks but the broader market was mixed……
RAM Ratings downgrades MRCB Southern Link’s Sukuk ratings
RAM Rating Services Bhd has downgraded MRCB Southern Link Bhd’s sukuk over the absence of a long-term solution to the 81-km Eastern Dispersal Link Expressway’s tolling issue……
Asia Media slips after Bursa Securities query
Asia Media Group Bhd slipped on Wednesday after it was queried by Bursa Malaysia Securities over the sharp rise in price and volume in the shares recently……
Sunway REIT to sustain distributable income for FY13
Sunway REIT Management Sdn Bhd expects to sustain the distributable income for financial year 2013 despite the loss of income contribution from Sunway Putra Mall……
SP Setia launches luxury condos, GDV RM180m
S P Setia Bhd has launched the “”Sky Oasis Residences”" luxury condominium project with gross development value of RM180mil……
Shares, euro dip, awaiting hints on central bank policy
LONDON: European shares and the single currency edged lower after three days of solid gains on Wednesday as investors await the next moves by central banks to tackle declining global growth and Europe’s fiscal crisis……
Heineken: S$5.3b offer for F&N stake more compelling
Heineken N.V. described its S$5.3bil offer made to Singapore-listed Fraser and Neave, Ltd as more compelling compared with a rival offer made by Thai billionaire Charoen Sirivadhanabhakdi……
Pharmaniaga Q2 earnings up 12.8% to RM15.71m on-year
Pharmaniaga Bhd’s earnings rose 12.8% to RM15.71mil in the second quarter ended June 30 from RM13.92mil a year ago, mainly due to the newly acquired subsidiary Idaman Pharma Manufacturing Sdn Bhd……
Firmer export data lifts KLCI
Blue chips staged a mild rebound on Wednesday, with BAT and Petronas-linked stocks among the gainers while the stronger-than-expected exports data for June glavanised sentiment……
Malaysias June exports up 5.4% to RM60.97b
Malaysias exports increased by 5.4% to RM60.97bil in June from a year ago, the Statistics Department said……
Maybank targets to issue 10,000 prepaid university smart cards
Malayan Banking Bhd has teamed up with Limkokwing University of Creative Technology (LUCT) and MasterCard to introduce MasterCard Prepaid University Smart Card for the employees and students……
Fitch: Negative fiscal pressures building on Malaysia
Fitch Ratings says Malaysia faces rising negative fiscal pressures that may eventually offset existing credit strengths unless structural weaknesses in the public finances are addressed……
KLCI rebounds, BAT and Petronas Dagangan lift
Blue chips staged a rebound on Wednesday, with BAT and Petronas Dagangan among the major gainers, while key regional markets advanced on hopes that central banks would implement measures to boost growth……
F&N slumps on weaker Q3 earnings
Shares of Fraser & Neave Holdings Bhd (F&N) fell to a low of RM19.66 on Wednesday after reporting weaker third quarter earnings, following the cessation of its Coca-Cola products business……
AmResearch: F&N’s long-term earnings growth remains intact
Fraser & Neave Holdings Bhd’s long-term earnings growth remains intact, well underpinned by higher demand for core soft drinks and dairies divisions, says AmResearch……
GLOBAL MARKETS-Shares at 3-month high, oil rises on policy hopes
NEW YORK: World stocks rose to a three-month high and oil prices jumped on Tuesday as investors bet that policymakers would do more to resolve the euro zone debt crisis and underpin the U.S. economy……
RHB Research maintains Market Perform on Hartalega
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HDBSVR sees KLCI staging a technical rebound
Hwang DBS Vickers Research (HDBSVR) expects the FBM KLCI to stage a technical rebound after plunging in the final minutes of trading on Monday to close 8.3-point down. …..
JF Apex Securities: Accumulate Padini at lower entry price of RM1.90
JF Apex Securities Research has downgraded Padini to Hold but with a higher target price of RM2.09……
Former Apple designer says Samsung phones looked similar
SAN JOSE, California: The focus of Apple Inc and Samsung Electronics courtroom battle shifted to the iPhone’s iconic display on Tuesday, as the U.S. company called on a former employee and award-winning graphic designer to back up claims that Samsung…..
Standard Chartered questions NY action which wiped off US$17bil of it’s value(Update)
NEW YORK/LONDON: A New York bank regulator’s broadside against Standard Chartered Plc over transactions tied to Iran left investors and the bank questioning the action, which on Tuesday wiped US$17 billion off the bank’s value……
Economists say ringgit getting stronger
KUALA LUMPUR: Economists are positive on the prospects of a strengthening ringgit in line with the maturing economy and stronger growth prospects going forward……
AirAsia opens Asean office to strengthen itself before penetrating India and China
Jakarta: Asia is AirAsias next frontier but it first needs a bigger foothold in all the Asean markets to give it the size it needs to take on bigger players and positions itself in India and China……
Consumer stocks among biggest gainers on Bursa
PETALING JAYA: Consumer stocks were sprinkled across the gainers list on Bursa Malaysia amid the lack of catalysts and uncertainties on the external front……
More to Naim Holdings? Analysts say stock undervalued based on several factors
PETALING JAYA: Naim Holdings Bhds stock is said to be undervalued after considering factors such as the groups real estate assets, earnings visibility and 34% stake in associate Dayang Enterprise Holdings Bhd, according to research analysts……
IHH Healthcare makes global impact and is 2nd largest in the world by market capitalisation
WHILE IHH Healthcare Bhd recently made news because of the size of its July flotation and the fact that it was dual-listed, the story tracing the journey of the creation of this gigantic hospital group is just as riveting……
Patimas shares down over 14% on suspension news
PETALING JAYA: Technology company Patimas Computers Bhds shares plunged yesterday, falling more than 14% to its all-time low of 3 sen after Bursa Malaysia decided to suspend the counter today following its failure to submit its annual audited accoun…..
Halcrow under probe
PETALING JAYA: British engineering company Halcrow is under investigation by the Malaysian Anti-Corruption Commission (MACC) for a potential conflict of interest and on the integrity of the evaluation process of eight bidders for the RM965mil Ampang …..
China operational woes pull PPB shares down to 2009 lows
PETALING JAYA: PPB Group Bhd shares have fallen to its 2009 lows, likely a reflection of the troubles brewing at the China operations of its 18.3%-owned unit Wilmar International Ltd, analysts said……
GPRO plunges 58% after UMA query
PETALING JAYA: More than half of GPRO Technologies Bhd’s market capitalisation was wiped out yesterday after the company was issued with an unusual market activity (UMA) query by Bursa Securities on Monday……
Citigroup cautious on global equity markets in H2 on political factor
KUALA LUMPUR: Citigroup Inc is maintaining its cautious stance on the global equity markets for the remainder of the year as politics continue to overshadow policy……
Gas M’sia posts lower profit
KUALA LUMPUR: Gas Malaysia Bhd’s pre-tax profit for the second quarter ended June 30 fell to RM54.12mil from RM81.99mil recorded in the same quarter of last year……
IJM upgraded on property upside
WE are upgrading our recommendation on IJM from a market perform to an outperform. Our upgrade is mainly premised on our in-house upgrade of IJMLands target price coupled with its still ample upside (+12%) from the current share price……
Analyst positive on Padini and say deal with FJ Benjamin should bring long-term benefits
PETALING JAYA: Padini Holdings Bhd has signed an exclusive 10-year master franchise agreement with Singaporean company FJ Benjamin Pte Ltd through its wholly-owned subsidiary, Vincci Ladies Specialties Centre Sdn Bhd, to distribute Vincci (VNC) shoe…..
Heineken bid for Tiger Beer faces Thai challenge
SINGAPORE: Heinekens US$6bil bid to take full control of Tiger Beer maker Asia Pacific Breweries (APB) faces a challenge from a group led by Thai billionaire Charoen Sirivadhanabhakdi, which has put in a higher bid to increase its stake in APB……
StanChart shares plunge as NY regulator says US$250bil Iranian deals hidden
HONG KONG: Standard Chartered Plcs (StanChart) market value tumbled US$16bil yesterday after New Yorks top bank regulator threatened to remove its state banking licence, saying the British lender hid US$250bil in transactions tied to Iran……
NYSE in talks with SEC to settle data investigation
WASHINGTON: The New York Stock Exchange (NYSE) said on Monday it was in talks with US securities regulators to settle allegations the exchange violated rules intended to promote fair competition……
InterContinental Hotels to return US$1bil
LONDON: InterContinental Hotels, the worlds biggest hotelier, cheered investors by promising to return US$1bil to them funded from the planned sale of a New York hotel and added that its flagship London Park Lane hotel is set to be next on the block…..
UMW sees higher FY12 earnings
KUALA LUMPUR: UMW Holdings Bhd, Malaysias biggest carmaker and assembler by market value, expects full-year profit to increase as auto sales climb and its oil and gas business rebounds from two years of losses. The shares rose to a record……
Hartalega Q1 profit dips
PETALING JAYA: Hartalega Holdings Bhds net profit for the first quarter ended June 30 was marginally down by 2.7% to RM53.3mil against the same quarter last year due to more competitive sales pricing and recognition of a net loss in foreign exchange…..
F&N Q3 profit falls 34%
PETALING JAYA: Fraser & Neave Holdings Bhd (F&N) financial year 2012 third quarter net profit slumped 33.7% from RM77.85mil in the corresponding quarter a year ago to RM51.63mil as the company reeled from the cessation of its Coca-Cola produc…..
Boustead posts pre-tax loss of RM16.43mil in Q2
KUALA LUMPUR: Boustead Heavy Industry Corp Bhd recorded a pre-tax loss of RM16.43mil for the second quarter ended June 30, 2012, as compared with a pre-tax profit of RM2.74mil in the same quarter of last year……
Increased investor interest on property player Mah Sing
PETALING JAYA: Property player Mah Sing Group Bhd is seeing increasing interest by investors and some analysts reckon the company is emerging nicely as a steady proxy to the Malaysian property sector……
Subur Tiasa in palm JV and will develop land in Sarawak
KUALA LUMPUR: Subur Tiasa Holdings Bhds wholly owned subsidiary, Victory Round Sdn Bhd, has entered into an agreement with Pelita Holdings Sdn Bhd……
Spore HDB to offer 20,000 flats in 2013
SINGAPORE: The Housing Board (HDB) will deliver at least 20,000 new flats next year……
Shares in Indias biggest developer rise
NEW DELHI: Shares in Indias biggest property developer DLF rose after posting better-than-expected earnings for the three months to June……
Boston Property beats Wall St forecast
NEW YORK: Office building landlord Boston Properties Inc reported quarterly funds from operations, a key measure of real estate investment trust performance, that easily surpassed Wall Streets forecast, in part due to termination income from a tenan…..
Lenovo eyes SMB segment
KUALA LUMPUR: Lenovo Malaysia plans to market its ThinkPad Tablet to the small and medium business (SMB) and enterprise segment as it is confident the product can help increase their productivity and efficiency……
P1 focuses on broadband solutions to drive growth
GEORGE TOWN: Packet One Networks (M) Sdn Bhd (P1) is focusing on its new high-speed broadband (HSBB) solutions designed specially for the business market to drive growth in an economically-challenging year……
Foreign reserves at RM429.6bil
KUALA LUMPUR: Bank Negara’s international reserves amounted to RM429.6bil, equivalent to US$134.5bil, as at July 31……
Italy economy shrank 0.7% in Q2
ROME: Italys economy shrank by 0.7% in the second quarter, with the country wallowing in recession as the eurozone debt crisis bites, preliminary official figures show……
MAHB passenger traffic up
KUALA LUMPUR: Malaysia Airports Holdings Bhd’s (MAHB) passenger volume at its airports grew 2.7% in June compared with the same month last year……
Report says M’sian business leaders want greater transparency
KUALA LUMPUR: Business leaders in Malaysia are demanding for greater transparency with 82% saying that public companies should disclose the remuneration policy and individual remuneration of executive and non-executive directors, according to SJ Gran…..
MARC ratifies Kimanis Power’s sukuk ratings
PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has assigned a final rating of AA-IS to Kimanis Power Sdn Bhd’s RM1.16bil sukuk programme, with a stable outlook, after receiving the final documentation for its forthcoming issuance……
Road Builder cancels RM400mil debt
KUALA LUMPUR: Road Builder (M) Sdn Bhd has cancelled its RM400 million commercial papers/medium-term notes programme (2006/2013)……
Sunway REIT FY12 pretax profit falls to RM420mil
KUALA LUMPUR: Sunway Real Estate Investment Trust’s (Sunway REIT) pretax profit for the financial year ended June 30, 2012, fell to RM420.46mil from RM553.66mil in the same period last year……
EU to present banking union plan on Sept 11
BRUSSELS: The European Commission will present its plans for a banking union, part of efforts to tame the eurozone debt crisis, on Sept 11, a European source said……
Company formerly called Blackwater to pay sanctions fine
WASHINGTON: The military contractor formerly known as Blackwater Worldwide agreed to pay a fine of US$5 million to $7.5 million for trying to operate in Sudan in violation of trade sanctions and for other arms-trade breaches, according to documents u…..
US job openings at four-year high in June but hiring slows
WASHINGTON: U.S. job openings rose to a four-year high in June, but a slowdown in hiring underscored recent weakness in the labor market that has been blamed on an uncertain economic outlook……
‘Avengers’ helps power Disney profit in quarter
LOS ANGELES: Walt Disney Co quarterly earnings rose 31 percent, exceeding Wall Street expectations, lifted by higher spending at theme parks and the blockbuster “”The Avengers”" superhero movie……
EBay lures big retailers in Amazon battle
NEW YORK: EBay Inc, once a scrappy auction site for mom and pop sellers, is enticing some of the world’s largest retailers by arguing it can help them compete better against e-commerce leader Amazon.com Inc……
S&P revises Greece’s outlook to negative
NEW YORK: Ratings agency Standard & Poor’s on Tuesday revised Greece’s outlook to negative, saying the debt-ridden euro zone country could need more help from its international creditors……
Wall Street watchdog suspends Wedbush Securities president
NEW YORK: Wall Street’s watchdog suspended the founder and president of Wedbush Securities for not adequately supervising the financial company’s regulatory filings, which, in many cases, were late or inaccurate, according to an order……
Survey: Older Americans upbeat about aging, future
NEW YORK: Baby boomers are upbeat about aging and expect the next phase of their lives to be better than the last, but many are concerned about their financial future and long-term health costs, a survey released in Tuesday showed……
Morgan Stanley considers shutting offices, cutting staff
NEW YORK: Morgan Stanley, under fire to boost profit margins in its retail brokerage arm, is considering closing brokerage offices, laying off support staff and requiring some branch managers also to generate revenue as advisers under a cost-cutting …..
S.Korea July bank lending growth to households slows
SEOUL: South Korean banks’ lending to households rose by a net 700 billion won ($620.10 million) in July, down from a 1.3 trillion won gain in June and stayed low due to the slowing economy, data showed on Wednesday……
Philippine July inflation quickens; rates seen steady
MANILA: Philippine annual inflation increased in July to its highest in six months, and analysts expect the central bank to hold off on cutting interest rates when it next meets in September, with prices likely to stay high due to weatherrelated supp…..
Thai central bank: credit growth, GDP meant no rate cut
BANGKOK: Thailand’s central bank said its monetary policy committee decided against cutting interest rates last month because economic growth was close to potential and monetary conditions were already accommodative, with credit growth robust……
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