Fernandes: Lawsuit will not affect AirAsia sales
SEPANG: The recent lawsuit against AirAsia X in Australia will not affect the sales performance of the the low-cost carrier in the country, according to AirAsia group chief executive officer Tan Sri Tony Fernandes……
M’sians to benefit from facebook IPO windfall
Today, Facebook has over 800 million users and the numbers are growing every day because Facebook has created enough buzz that even a seven-year-old or a 60-year-old wants to get connected on Facebook. Out of all this buzz, who would have thought tha…..
Vincent Tan awaits Facebook IPO windfall
PETALING JAYA: Tan Sri Vincent Tan is definitely going to like the much anticipated Facebook Inc initial public offering (IPO) as his stake in the worlds largest social networking service company could be worth as much as RM420mil……
Cypark gets nod for landfill project
KUALA LUMPUR: Cypark Resources Bhd has received an approval-in-principle letter from the Government for the proposed development of a sanitary landfill at Ladang Tanah Merah, Negri Sembilan……
Spore firm buys into Khazanah health unit investing US$50mil
PETALING JAYA: London-listed private equity investor Symphony International Holdings Ltd could end up with a minority stake in Khazanah Nasional Bhds healthcare unit, Integrated Healthcare Holdings Sdn Bhd (IHH), when the latter goes for listing lat…..
OM Sarawak to invite bidders for smelter works
KUCHING: OM Materials (Sarawak) Sdn Bhd (OM Sarawak) will invite bidders in the next two to three months for various packages in the construction of its RM1.5bil (US$500mil) manganese and ferrosilicon alloy smelter in Samalaju Industrial Park, Bintul…..
New chairman at ExxonMobil Subsidiaries in Malaysia
KUALA LUMPUR: The ExxonMobil Subsidiaries in Malaysia has announced that J. Hunter Farris has replaced Hugh WA Thompson as the chairman of ExxonMobil Subsidiaries in Malaysia effective from Wednesday……
Mukhriz: Think outside the box to attract foreign investment
TAIPING: Malaysia has to think outside the box to attract foreign investment in light of the sluggish global economy this year, said Deputy International Trade And Industry Minister Datuk Mukhriz Mahathir……
OSK sees more upside for Genting Malaysia
PETALING JAYA: Genting Malaysia Bhds shares are expected to continue their upward trend. …..
Carotech expects white knights
PETALING JAYA: Carotech Bhd will see the entrance of a few white knights should its regularisation plan be approved by the relevant authorities, according to its group managing director David Ho……
KPRJ not selling out
PETALING JAYA: Kumpulan Prasarana Rakyat Johor Sdn Bhd (KPRJ) is not selling out and will be an indirect shareholder of Tebrau Teguh following the formers disposal of a 33.15% stake to Iskandar Waterfront Holdings Sdn Bhd (IWH) for 76 sen per share……
DKSH denies privatisation talks
KUALA LUMPUR: DKSH Holdings (M) Bhd is not going to be privatised, according to its board of directors and shareholders……
Muhibbah shares up on renewed hope for APH project
PETALING JAYA: Muhibbah Engineering (M) Bhd surged 13.7%, or 17 sen, to RM1.41 on renewed hope that the construction firm will stand a better chance to evade a substantial write-off from its works in the troubled Asia Petroleum Hub (APH) in Johor……
Maxbiz faces suspension, delisting
KUALA LUMPUR: Maxbiz Corp Bhd will be delisted from Bursa Malaysia because it has failed to submit its regularisation plan to the Securities Commission or Bursa Malaysia Securities Bhd for approval within the timeframe stipulated under paragraph 8.04…..
Indonesia plans US$5.6bil company to compete with Sime Darby, Wilmar
JAKARTA: Indonesias government plans to create one of the worlds largest palm oil and rubber firms in March by combining state planters with total assets of US$5.6bil, a government minister told Reuters. …..
Lynas shares surge after Malaysia nod for plant
SYDNEY: Shares of Australias Lynas Corp jumped 19% after Malaysian authorities approved a temporary operating licence for its US$200mil rare earths processing plant……
Unilever sees tough 2012
LONDON: Consumer goods group Unilever said 2012 would likely be a difficult year as emerging market growth slows and Europe and North America stay flat, after matching 2011 sales forecasts helped by its own sharp price rises……
MBSB profit rises on higher loans
PETALING JAYA: Malaysia Building Society Bhd (MBSB) net profit rose 554% year-on-year to RM83.827mil in the fourth quarter ended Dec 31, 2011 on higher loans given……
Deutsche Bank posts pre-tax loss of 351 million euros on EU sovereign debt crunch
FRANKFURT: Deutsche Bank posted a fourth-quarter pre-tax loss after investment banking wilted amid the sovereign debt crisis, and as bad investments and litigation charges spoiled Josef Ackermanns final earnings presentation as chief executive……
Munich Re profit down 71%
FRANKFURT: Munich Re, the worlds biggest reinsurer, said profits plummeted last year due to heavy losses from both the eurozone debt crisis and a string of natural catastrophes……
Oriental plans to buy London hotel
PETALING JAYA: Oriental Holdings Bhd, through its subsidiary Kah Motor Co Sdn Bhd, is looking to purchase Kingsley Hotel in London for £42.71mil (RM204mil)……
Zelan appoints JV firm contractor
KUALA LUMPUR: Zelan Bhd had issued a letter of intent to its 51% owned joint venture (JV) Zelan-Kiara Teratai JV to appoint the latter as the contractor for the proposed development of the Integrated Immigration, Custom, Quarantine and Security Compl…..
Hua Yang sets target for going overseas
KUALA LUMPUR: Property developer, Hua Yang Bhd, will explore the overseas market when the company achieves its targeted RM800mil revenue in the next few years, said chief executive officer Ho Wen Yan……
Petronas keen to have more gas plants in the country
PETALING JAYA: Petroliam Nasional Bhd (Petronas) is evaluating opportunities for additional regassification projects in Pengerang, Lumut and Lahad Datu after the completion of its Lekas regassification terminal come August……
Airline passenger traffic up nearly 6%
GENEVA: Global airline passenger traffic rose 5.9% last year despite weak conditions, the International Air Transport Association (IATA) said, with 2012 likely to be difficult for the industry……
Bank Negara signs cross-border deal with Thailand
KUALA LUMPUR: Bank Negara has signed a memorandum of understanding with the Bank of Thailand (BOT) for a cross-border collateral arrangement to facilitate a reciprocal operational arrangement to enhance liquidity facilities to financial institutions …..
Al Rajhi Bank names CEO of M’sian unit
PETALING JAYA: Saudi Arabia-based Al Rajhi Bank has appointed Azrulnizam Abdul Aziz as chief executive officer of its wholly owned subsdiary Al Rajhi Bank (Malaysia)……
Maybank IB tops sukuk/bond issues
KUALA LUMPUR: Maybank Investment Bank ( Maybank IB) clinched the top spot in the Malaysian Rating Corp Bhd’s (MARC) 2011 Lead Managers League Tables by issue value and issue count……
Credit scoring beneficial helps banks compete with foreign counterparts, boost bottomline
KUALA LUMPUR: A comprehensive credit scoring system to evaluate customers risks will enable banks in Malaysia to compete with their foreign counterparts and boost their bottomlines amid the liberalisation in the local banking sector……
Singapore awards S$600mil MRT contracts
SINGAPORE: Contracts worth more than S$600mil have been awarded by the Land Transport Authority (LTA) and train operator SMRT as part of efforts to improve train services and prepare for an expected spike in demand……
Facebook CEO to keep iron grip
SAN FRANCISCO: Facebook unveiled plans for the biggest ever Internet IPO that could raise as much as US$10bil, but made it clear chief executive officer Mark Zuckerberg will exercise almost complete control over the company, leaving investors with li…..
Negative ratings trend for Asian firms seen
SINGAPORE: Defaults by Asian companies are likely to rise this year as the economic environment deteriorates and as credit becomes tighter with European lenders reducing their exposure to the region, ratings agency Moodys Investors Service said……
Two-year trade waiver for Pakistan
GENEVA: The World Trade Organisation (WTO) has approved a waiver allowing 75 Pakistani products duty-free access to European markets for two years to help textile exports after devastating floods in 2010……
Removal of ex-RBS boss’ title sparks concern
LONDON: The decision to strip the former Royal Bank of Scotland (RBS) boss of his knighthood marks a new high in “banker bashing” sparked by the financial crisis, and left business figures asking if it had gone too far……
India’s rubber imports set to fall from March on price rise
MUMBAI, Feb 2 (Reuters) – India’s natural rubber imports are set to fall from March as Thailand’s move to intervene in the market has pushed up world prices making overseas buying expensive for Indian tyre makers, industry officials said……
Management Tip of the Day: Trust your innovation
BOSTON (Reuters) – You cannot find truth through analysis but only through action, says Harvard Business Review, so start working it……
Fed’s Fisher: policy action hinged to inflation
AUSTIN, Texas (Reuters) – The Federal Reserve may have more latitude to pursue easy-money policies if inflation runs below its newly-set 2-percent target, though such a move does not guarantee more jobs, a top central bank official said on Thursday……
Panasonic yearly net loss to top $9bil
TOKYO, Feb 3 (Reuters) Panasonic Corp expects a record net loss of more than 700 billion yen ($9.2 billion) for the year to March, Japanese media said, hit by writedowns for its Sanyo Electric acquisition and restructuring of its ailing TV division……
Analysis: Single-cup coffee sales seen growing
NEW YORK/BANGALORE (Reuters) – Sara Lee Corp Executive Chairman Jan Bennink thinks it is time for his company to reinvest in the single-serve coffee market……
Fed’s Fisher: policy action hinged to inflation
AUSTIN, Texas (Reuters) – The U.S. Federal Reserve may have more latitude to pursue easy-money policies if inflation runs below its newly-set 2-percent target, though such a move does not guarantee more jobs, a top central bank official said on Thurs…..
Smoking tied to higher psoriasis risk: study
REUTERS – Smokers have an increased risk of developing the chronic skin condition psoriasis, and that appears to be true both for people who currently smoke as well as past smokers, according to a U.S. study……
Google tightens security in Android app store
SAN FRANCISCO (Reuters) – Google Inc has been quietly policing its online store for months now in an acknowledgement of malware’s growing threat to its increasingly popular Android mobile software……
Bernanke defends low rate policy for weak economy
WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke on Thursday defended the U.S. central bank’s policies against charges from Republican lawmakers they risked sparking inflation, saying the economy still needs plenty of support……
News Corp taps Bloomberg exec to lead Dow Jones
NEW YORK (REUTERS) – Rupert Murdoch’s News Corp on Thursday named Bloomberg LP executive Lex Fenwick as chief executive officer of its Dow Jones & Co unit which houses its Wall Street Journal newspaper……
Wall Street holds steady as payrolls set to test rally
NEW YORK (Reuters) – Investors largely took a wait-and-see approach on Thursday as stocks ended little changed ahead of Friday’s key employment report, but tech shares rose after strong earnings from chipmaker Qualcomm……
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