• Editor's Picks & Featured and Exclusive  |  JULY 4, 2015 10:30 AM

    If The Wall Street Journal lied, sue them PM!

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    It was a damning report by The Wall Street Journal (WSJ) in the wee hours of Friday, essentially claiming some US$700 million (RM2.63 billion) of money linked to controversial 1Malaysia Development Bhd (1MDB) somehow found its way to personal bank accounts …

  • Economy  |  JULY 3, 2015 11:06 PM

    Govt decided against increasing RON95 by 20 sen

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    The government should have increased the price of RON95 petrol for July by 20 sen but decided on a 10 sen hike, says Youth and Sports Minister Khairy Jamaluddin. Khairy, who is also the Umno Youth chief, said the government had to …

  • Corporate  |  JULY 3, 2015 10:58 PM

    ‘Malaysia taxi service not worst in world’

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    Malaysia must admit that services of its taxi drivers are indeed far below par, says Tourism Malaysia chairman Wee Choo Keong. But he denied that the taxi service in the country is the worst in the world and stressed Malaysia must have the courage …

  • Featured and Exclusive & Finance  |  JULY 3, 2015 8:33 PM

    Greeks use bitcoin to dodge capital controls

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    There is at least one legal way to get your euros out of Greece these days, to guard against the prospect that they might be devalued into drachmas: convert them into bitcoin. Although absolute figures are hard to come by, …

  • Corporate & Featured and Exclusive  |  JULY 3, 2015 7:49 PM

    TNB buys 70% stake in 1MDB’s Jimah East Power

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    Tenaga Nasional Bhd (TNB) signs a share sale and purchase agreement with 1Malaysia Development Bhd (1MDB) to acquire 70% stake in Jimah East Power Sdn Bhd for RM46.98 million. In a statement today, TNB said the signing of the agreement came after it submitted …

  • Corporate  |  JULY 3, 2015 7:34 PM

    Guocoland unit disposes of stake in DC Tower

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    Hong Leong Real Estate Holdings Sdn Bhd enters into a conditional share sale agreement with Hong Leong Bank to dispose of the entire issued and paid-up share capital of DC Tower Sdn Bhd for RM189.33 million. The company is a wholly-owned unit …

  • Corporate  |  JULY 3, 2015 7:14 PM

    AirAsia has one month left to move to KKIA Terminal 1

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    Low-cost airline AirAsia has only a month left to move its operations from Terminal 2 to Terminal 1 at the Kota Kinabalu International Airport (KKIA). Contacted by Bernama, AirAsia staff at KKIA said they are still waiting for a directive from the airline …

  • TigerTalk  |  JULY 3, 2015 6:33 PM

    If Wall Street Journal lied, sue them PM!

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    The latest expose by the Wall Street Journal is making waves in Malaysia for all the wrong reasons – never before has a sitting prime minister been accused of receiving large sums of money (US$700 mil or RM2.6 billion at current exchange rates) into his personal bank accounts. If the newspaper lied, the prime minister is duty bound to all Malaysians to deny everything immediately and sue at once.

  • Markets  |  JULY 3, 2015 6:32 PM

    KL shares end mixed on last-minute buying

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    Last-minute buying pushed shares prices into the positive territory at close on Bursa Malaysia today, dealers say. At 5pm, the FTSE Bursa Malaysia KLCI finished at 1,734.24, up 0.36 point, after moving between 1,724.50 and 1,738.09 throughout the day. However, market …

  • Commodities  |  JULY 3, 2015 6:25 PM

    Rubber market to trade cautiously next week

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    The Malaysian rubber market is expected to trade cautiously next week as a number of uncertainties continue to loom over the market, says a dealer. Sentiment is expected to be affected by the overall negative global economic condition, but the overall positive rating …

  • Corporate & Featured and Exclusive  |  JULY 3, 2015 6:22 PM

    Rakyat invited to send in suggestions for Budget 2016

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    The government is inviting members of the public and groups including agencies and non governmental organisations to submit suggestions for the Budget 2016 before it is tabled in Parliament on Oct 23. Deputy Finance Minister Ahmad Maslan said memorandums and proposals via letters …

  • World Biz  |  JULY 3, 2015 6:06 PM

    Uber said to suspend UberPOP activities in France

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    US-based Uber Technologies Inc has decided to suspend its UberPOP ride-hailing application in France, where authorities have denounced it as an illegal taxi service, its local manager told Le Monde daily. “We have decided to suspend UberPOP in France from 2000 …

  • Events  |  JULY 3, 2015 6:05 PM

    BFM Enterprise Takeaway 2015

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  • Corporate & Featured and Exclusive  |  JULY 3, 2015 5:44 PM

    Irwan Siregar appointed to Khazanah board

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      Secretary General of Treasury Mohd Irwan Serigar Abdulah has been appointed to the board of directors of Khazanah Nasional Bhd, according to a statement today. Khazanah is the Malaysian government’s strategic investment fund. The appointment was made at Khazanah’s …

  • Markets  |  JULY 3, 2015 5:41 PM

    Ringgit ends unchanged against US dollar

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    The ringgit ended the week flat against the US dollar today as buyers stayed on the sidelines, rather than take major position ahead of the weekend. At 5pm, the local currency was quoted at 3.7760/7790 from 3.7760/7800  yesterday. It hovered between 3.785 …

  • Commodities  |  JULY 3, 2015 5:31 PM

    Rubber market closes mixed

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    The Malaysian rubber market closed mixed today despite weaker sentiments on the local market, on the fall in crude oil prices and worries over supply glut. However, on Tokyo Commodity Exchange, the rubber futures strengthened for the third day, lifted up by short-covering …

  • World Biz  |  JULY 3, 2015 5:29 PM

    European economy shakes off Greek woes on ECB stimulus

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    The euro-area economy strengthened last month, with a business index rising more than initially reported to the highest level in four years. Markit Economics said its composite Purchasing Managers Index increased to 54.2 from 53.6. That’s above the flash number …

  • Economy, Featured and Exclusive, Markets  |  JULY 3, 2015 5:24 PM

    China joins Greece, Puerto Rico on investors’ watchlists

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    Greece’s full-blown debt crisis and Puerto Rico’s unfolding one have dominated headlines all week, but some of the biggest US investors have China at the top of their worry lists. Jeffrey Gundlach, Bill Gross, Dan Ivascyn, Mohamed El-Erian, and David …

  • Commodities  |  JULY 3, 2015 5:10 PM

    1.22 mil tons CPO used if B10 programme implemented

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    Some 1.22 million tons of crude palm oil (CPO) from the country’s stockpile will be utilised annually upon the implementation of the B10 biodiesel programme, said Plantation Industries and Commodities Minister Douglas Uggah Embas. The B10 is 10 per cent palm biodiesel blended …

  • Economy  |  JULY 3, 2015 5:06 PM

    AllianceDBS maintains 5% GDP growth forecast

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    AllianceDBS Research is maintaining its gross domestic product (GDP) growth forecast at 5% as a brighter external outlook is likely in the second half of 2015. The research house said in a note today net exports make up around 10% of Malaysia’s total GDP, …

  • Featured and Exclusive & Opinion  |  JULY 3, 2015 5:00 PM

    When CEOs are accidentally overpaid

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    Why are chief executive officers (CEOs) paid so much? Although skyrocketing CEO pay is not a substantial factor behind the increase in income inequality, it is certainly startling. The average US CEO now makes about 350 times what the average …

  • Opinion  |  JULY 3, 2015 4:53 PM

    Has the gov’t lost control of Bernas?

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    Three days ago, Ismail Sabri Yaakob urged the public to grow their own vegetables in light of the soaring cost of living. While I am all for healthy living in growing our own vegetables, Ismail Sabri’s rationale in urging the …

  • Corporate & Economy  |  JULY 3, 2015 4:52 PM

    ‘Weak sentiments persist; spending to recover by 4Q’

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    Consumer sentiments are likely to remain weak for the remainder of 2015, with retail spending expected to return to normalcy by the final quarter of the year (4Q15), as consumers adjust to the impacts of the goods and services tax …

  • Finance & Markets  |  JULY 3, 2015 4:22 PM

    HSBC launches Islamic socially responsible unit trusts

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    HSBC Amanah Malaysia Bhd today launched its Islamic Socially Responsible Unit Trusts, the first of its kind in the Islamic banking landscape in Malaysia. The company said the unit trusts are tailored for customers who want to invest and at the same time …

  • Economy  |  JULY 3, 2015 4:10 PM

    Firms shrug off Greek fears as euro zone PMI at 4-year high

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    Euro zone business activity expanded at its fastest pace in four years last month as the European Central Bank’s (ECB) stimulus package more than offset fears Greece could crash out of the currency union, surveys show. Speculation that Athens would …

  • World Biz  |  JULY 3, 2015 4:05 PM

    Greek referendum means little rest for currency traders

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    Greece’s referendum on Sunday means a short weekend for foreign-exchange analysts and traders, some of whom will rush to their desks even before the official opening for currency trading at 5 am Sydney time on Monday. Voting is scheduled to …

  • Corporate & Featured and Exclusive  |  JULY 3, 2015 3:39 PM

    MACC pledges professional probe on Najib

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    The Malaysian Anti-Corruption Commission (MACC) pledges there will be an independent and professional investigations into allegations that millions of ringgit were deposited into Prime Minister Najib Abdul Razak’s bank accounts from a 1Malaysia Development Bhd (1MDB) subsidiary. In a statement …

  • Markets  |  JULY 3, 2015 3:36 PM

    KL shares slightly lower at mid-afternoon

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    Bursa Malaysia was easier at mid-afternoon today on selling activities led by finance-related counters. At 3.05pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,732.63, down 1.25 points. Of the heavyweights, CIMB decreased 8 sen to RM5.46, Astro went down 7 sen …

  • Featured and Exclusive & Opinion  |  JULY 3, 2015 3:30 PM

    Tsipras’ ‘Occupy Greece’ tactics

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    Greek Prime Minister Alexis Tsipras’ abrupt turnabouts, flashes of anger and sudden outbursts of inflammatory rhetoric appear irrational, causing the serious men and women who represent Greece’s creditors to mistrust him profoundly. Everything falls into place, however, if one accepts that Tsipras …

  • OTHERS  |  JULY 3, 2015 3:25 PM

    Indonesia central bank: Higher fiscal deficit not a worry

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    Indonesia’s central bank governor said on Friday he was not worried that the government’s fiscal deficit this year might reach 2.23 percent of gross domestic product, significantly higher than in the budget. The government will not issue additional bonds but …

  • Corporate  |  JULY 3, 2015 3:07 PM

    KWAP to allocate another RM100 mil for fund manager

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    The Retirement Fund Inc (KWAP) plans to allocate RM100 million to be managed by a fund manager, adding to the RM1.2 billion currently being managed by existing fund managers. Chief executive officer (CEO) Wan Kamaruzaman Wan Ahmad said KWAP has identified a fund …

  • Economy  |  JULY 3, 2015 2:48 PM

    M’sia total trade up 1.3% in May from month earlier

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    Malaysia’s total trade in May 2015 rose by 1.3% to RM115.39 billion compared with the previous month, while exports remained steady at RM60.45 billion and imports increased by 2.76% to RM54.94 billion. A trade surplus of RM5.51 billion was recorded in May 2015, making it …

  • Corporate  |  JULY 3, 2015 2:37 PM

    Takaful M’sia eyes 15% growth this year

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    Syarikat Takaful Malaysia Bhd expects its overall company growth to hit 15% this year versus 12% recorded last year. Group managing director Mohamed Hassan Kamil said the target is achievable, driven by positive market response to its product offerings. “Recently we launched two …

  • Markets  |  JULY 3, 2015 2:21 PM

    KL shares lower at mid-day

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    Bursa Malaysia ended the morning session lower undermined by losses in selected heavyweights, especially finance and trading services stocks. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased four points to 1,729.88, after opening higher at 1,1737.23. Among heavyweights, CIMB Group eased …

  • Corporate & Featured and Exclusive  |  JULY 3, 2015 2:15 PM

    PMO: WSJ expose is political sabotage

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    The Prime Minister’s Office has described the revelation in the Wall Street Journal (WSJ) as political sabotage. In a statement, PMO said despite Najib Abdul Razak’s successful stewardship of Malaysia’s economy against global headwinds, there have been concerted efforts by …

  • Commodities  |  JULY 3, 2015 2:10 PM

    KLTM ends US$50 lower at US$14,450 a tonne

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    The Kuala Lumpur Tin Market (KLTM) closed US$50 lower at US$14,450 per tonne dampened by the weaker tin prices on the London Metal Exchange (LME), a dealer says. He said LME fell US$150 to US$14,400 per tonne mainly because of the weakness in …

  • Corporate & Economy  |  JULY 3, 2015 1:15 PM

    ‘Fitch rating a vote of confidence for Malaysia’

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    Maybank Group said getting the positive ratings from Fitch Ratings is a vote of confidence in the country’s economic strength in terms of the current account, trade and the amount of reserves that the country have accumulated over the years. Media Prima’s …

  • Featured and Exclusive & World Biz  |  JULY 3, 2015 12:45 PM

    IMF warns of huge financial hole as Greek vote looms

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    The International Monetary Fund (IMF) delivered a stark warning on Thursday of the huge financial hole facing Greece as angry and uncertain voters prepare for a referendum that could decide their country’s future in Europe. Days after Greece defaulted on …

  • World Biz  |  JULY 3, 2015 12:10 PM

    Sony’s RM13.4 bil fundraising may lead to tax saving

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    Sony Corp’s first share sale in 26 years is fuelling speculation the company may buy full control of Sony Financial Holdings Inc, a move that could save taxes and help the parent meet performance targets.

  • Corporate & Featured and Exclusive  |  JULY 3, 2015 11:53 AM

    1MDB: We did not transfer money to Najib

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    1Malaysia Development Bhd (1MDB) denies that it provided funds to Prime Minister Najib Razak, despite reports today claiming that almost US$700 million (RM2.63 billion) from 1MDB found its way into Najib’s personal bank accounts. “In reference to media reports published …

  • Markets  |  JULY 3, 2015 11:45 AM

    KL shares lower at mid-morning

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    Bursa Malaysia waded into negative territory at mid-morning today after posting slight gains in the early session, on lack of liquidity and mild profit taking, dealers said. At 11.01 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 8.39 points lower at 1,725.49. …

  • World Biz  |  JULY 3, 2015 11:45 AM

    Japan’s corporate reforms burnish stocks, but bruise yen

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    Japan’s efforts to boost its economy through better corporate governance has drawn foreign investors into its stock markets but with the unintended side-effect of weakening the yen. The Nikkei share index is scaling multi-year highs on the back of Prime …

  • Corporate  |  JULY 3, 2015 11:06 AM

    Mohd Sidek will extend tenure with Petronas

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    Mohd Sidek Hassan will be continuing his tenure as Non-Executive Chairman of Petroliam Nasional Bhd (Petronas) for another three years, beginning July 1, 2015. Mohd Sidek was first appointed to the Petronas board of directors in 2012. Prior to that, he spent …

  • World Biz  |  JULY 3, 2015 10:37 AM

    Four allies quit Tsipras’ coalition over referendum

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    A referendum on bailout terms that has morphed into a plebiscite on Greece’s future in Europe has created the first real splits in Prime Minister Alexis Tsipras’ ruling coalition. Four members of the right-wing Independent Greeks, uneasy bedfellows whose 13 …

  • Markets  |  JULY 3, 2015 9:59 AM

    KL shares open higher

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    Bursa Malaysia opened higher today driven by follow through support and persistent buying interest in selected heavyweights, dealers said. At 9.04 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 3.38 points at 1,737.71, after opening 2.35 points higher at 1,737.23. Market breadth …

  • Corporate & Featured and Exclusive  |  JULY 3, 2015 9:45 AM

    WSJ: Links found between 1MDB & PM’s bank accounts

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    Malaysian Prime Minister Najib Razak had close to US$700 million (RM2.63 billion) in deposits from troubled state fund 1MDB wired into his personal account, the Wall Street Journal reported on Friday, citing documents from a government probe. There were five …

  • Finance & Markets  |  JULY 3, 2015 9:34 AM

    Ringgit opens marginally higher against US dollar

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    The ringgit was traded marginally higher against the US dollar this morning on back of mild buying support for the local note, a dealer said. At 9.08 am, the local currency was quoted at 3.7710/7760 against 3.7760/7800 yesterday. The dealer said positive sentiment …

  • World Biz  |  JULY 3, 2015 9:00 AM

    ING on course to win auction for HSBC’s Turkish bank

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    Dutch lender ING Group is set to win the auction to buy HSBC’s Turkish business, people familiar with the matter said on Thursday. Four people familiar with the situation said HSBC had narrowed the field to one suitor, with two …

  • World Biz  |  JULY 3, 2015 8:20 AM

    BP reaches RM70 bil settlement over deadly 2010 spill

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    BP Plc will pay up to US$18.7 billion (RM70.4 billion) in penalties to the US government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement …

  • Commodities  |  JULY 3, 2015 7:48 AM

    Gold above 3-1/2 month low after tepid US jobs data

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    Gold on Thursday rebounded slightly from an earlier 3-1/2 month low after data showed the US labor market was weaker in June than expected, indicating that the Federal Reserve may hold off from raising interest rates in September. US job …