• World Biz  |  MAY 26, 2015 9:20 AM

    Charter nears RM197 bil deal to buy Time Warner Cable

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    Time Warner Cable Inc is nearing an agreement to be acquired by smaller peer Charter Communications Inc for about US$55 billion (RM197.5 billion), combining the second and third largest US cable operators, people familiar with the matter said on Monday. …

  • Economy & Singapore  |  MAY 26, 2015 8:37 AM

    S’pore’s economy expands more than expected

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    Singapore’s economy grew more than initially estimated last quarter as demand for the island’s exports improved amid a recovery in the US. Gross domestic product rose an annualized 3.2% in the three months through March from the previous quarter, the …

  • World Biz  |  MAY 26, 2015 8:26 AM

    Time running out for Greece, ESM head Regling says

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    Time is running out for Greece to reach an agreement on reforms with lenders and there will be no further funds for Athens without it, the head of the European Stability Mechanism Klaus Regling told Germany’s Bild newspaper on Tuesday. …

  • Corporate  |  MAY 26, 2015 8:04 AM

    ‘Double-tracking railway to be opened to other operators’

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    The Ministry of Transport has proposed that the double-tracking railway be opened to other operators other than Keretapi Tanah Melayu Berhad (KTMB), to maximise usage. Deputy Transport Minister Abdul Aziz Kaprawi said this was because KTMB was expected to utilise only 30% of …

  • Corporate  |  MAY 26, 2015 7:50 AM

    Minimum wage review to be finalised soon, says minister

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    The Ministry of Human Resources will submit the proposals in the minimum wage review for finalisation soon. Its minister Richard Riot Jaem said the review was conducted by the Minimum Wage Consultative Council in line with Section 25 of the National Wages Consultative …

  • Commodities  |  MAY 26, 2015 7:29 AM

    Gold edges up as Yellen comments shore up dollar

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    Gold prices rose sightly on Monday, even as the dollar gained traction against major currency rivals on signs the US Federal Reserve is preparing to tighten monetary policy for the first time in six years in 2015. Fed chair Janet …

  • Commodities  |  MAY 26, 2015 7:17 AM

    Oil prices gain as demand outweighs dollar strength

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    Crude oil futures rose on Monday as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 53 cents to US$65.90 a barrel by 1750 …

  • Corporate  |  MAY 25, 2015 10:21 PM

    E&O says property unit seeking listing in London

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    Malaysian property company Eastern & Oriental Bhd is seeking a London stock market listing for a unit owning three buildings in the British capital, saying a flotation would help the unit expand in the UK. The company has proposed to admit shares and warrants …

  • Singapore  |  MAY 25, 2015 10:16 PM

    Halcyon Agri to be transferred to SGX Mainboard

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    Natural rubber supply chain manager Halcyon Agri Corporation Ltd announces it has been given the green light from the Singapore Exchange for the transfer of its listing from Catalist to the Mainboard. In a statement, Halcyon Agri executive chairman and chief executive officer Robert …

  • Corporate  |  MAY 25, 2015 10:10 PM

    Cooperatives’ turnover expected to rise 10%

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    The turnover of cooperatives in the country is expected to rise 10% this year from RM34.95 billion last year due to their involvement in large-scale projects. Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek said the target was based on last year’s turnover …

  • Corporate  |  MAY 25, 2015 8:38 PM

    Maybank Kim Eng plans to increase capital in Vietnam

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    Maybank Kim Eng, the investment banking securities arm of Maybank Group, plans to increase its capital in Vietnam to US$50 million (RM179.62 million) in the next two years from US$40 million in 2014, says chief executive officer John Chong. He said the extra …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 8:29 PM

    Mueller: Troubled MAS to be completely revamped

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    Loss-making Malaysia Airlines (MAS) is set to undergo a complete overhaul as it is restructured into a new company, with a rebranding that will be unveiled next week and changes planned to its fleet and network strategies. Christoph Mueller, who joined from Irish national …

  • Corporate  |  MAY 25, 2015 7:54 PM

    Banks to aid low-, middle-income groups to own homes

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    The Association of Banks in Malaysia (ABM) is fully supportive of the government’s various initiatives to assist low- and middle-income groups to purchase their own homes. Executive director Chuah Mei Lin said member banks, which focus on the retail sector, have been participating …

  • Enterprise  |  MAY 25, 2015 7:48 PM

    TS Global Network plans to double regional sales by 2020

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    TS Global Network Sdn Bhd (TSGN) plans to double its regional sales by 2020 with an investment of RM250 million in ground and space assets. TSGN is Malaysia’s satellite communication (Satcom) services and solutions specialist. The company will scale up its capacity and …

  • Corporate  |  MAY 25, 2015 7:40 PM

    MBM posts 133% jump in Q1 pre-tax profit

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    MBM Resources Bhd’s pre-tax profit more than doubled to RM65.18 million in the first quarter ended March 31, 2015, from RM27.97 million in the same quarter last year. The surge of 133% in pre-tax profit was mainly attributable to recognition of revenue from …

  • Corporate  |  MAY 25, 2015 7:35 PM

    Uzma unit bags 2 Petronas contracts worth RM166.5 mil

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    Uzma Bhd’s associate company, Sazma Aviation Sdn Bhd, has been awarded two contracts worth RM166.5 million by Petronas Carigali Sdn Bhd (PCSB) for the provision of helicopter services. In a statement to Bursa Malaysia, Uzma said the first contract is for helicopter services …

  • Corporate  |  MAY 25, 2015 7:32 PM

    WCT’s Q1 pre-tax profit slips to RM42.75 mil

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    WCT Holdings Bhd’s pre-tax profit fell to RM42.75 million in the first quarter ended March 31, 2015 from RM56.75 million in the same quarter last year. In a filing to Bursa Malaysia today, WCT said revenue dropped to RM351.62 million from RM467.22 million …

  • Corporate  |  MAY 25, 2015 7:28 PM

    Boustead’s Q1 PBT falls to RM69.5 mil

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    Boustead Holdings Bhd’s pre-tax profit dropped to RM69.5 million in the first quarter ended March 31, 2015, from RM133.3 million in the same quarter last year. In a filing to Bursa Malaysia today, it said revenue fell to RM1.89 billion from RM2.5 billion …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 7:19 PM

    Audit report said to clear Tanjung officials’ names

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    A forensic audit report on Tanjung Offshore Bhd, which will be released soon, is expected to clear the company’s executive deputy chairman Tan Kean Soon and board member Muhammad Sabri Ab Ghani of any financial irregularities. Key findings of a forensic audit, …

  • OTHERS  |  MAY 25, 2015 7:18 PM

    KINIBIZ magazine: Can Mueller turn MAS around?

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    [email protected]

    Issue 004 of KINIBIZ Magazine hits the stands today asking this question: Can Mueller turn MAS around? If MAS is a five-star airline, what is really wrong with the airline? Our cover story asks this question and basically concludes that …

  • Corporate  |  MAY 25, 2015 7:00 PM

    Kulim records higher Q1 pre-tax profit of RM24.58 mil

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    Kulim (M) Bhd’s pre-tax profit rose to RM24.58 million for the first quarter ended March 31, 2015 from RM20.2 million recorded in the same quarter last year. However, revenue decreased to RM268.17 million during the period under review from RM276.2 million previously. In …

  • Corporate  |  MAY 25, 2015 6:52 PM

    E&O FY15 pre-tax profit climbs to RM202.44 mil

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    Eastern & Oriental Bhd’s (E&O) pre-tax profit rose to RM202.44 million in the financial year ended March 31, 2015 from RM167.17 million registered a year ago. In a filing to Bursa Malaysia, the company said this was due to higher gains from investments …

  • Corporate  |  MAY 25, 2015 6:47 PM

    TM forms consortium for MCT submarine cable system

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    Telekom Malaysia Bhd (TM) seals an agreement with Symphony Communication of Thailand and Telcotech of Cambodia to form a consortium for the establishment of the Malaysia-Cambodia-Thailand (MCT) submarine cable system. The latest intra-regional submarine cable system, which spans about 1,300km, is expected to be …

  • Corporate  |  MAY 25, 2015 6:40 PM

    Takaful M’sia posts 39% increase in Q1 PBT

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    Syarikat Takaful Malaysia Bhd’s profit before zakat and taxation for the first quarter ended March 31, 2015 rose 39% to RM62.23 million from RM44.7 million registered in the same quarter last year. “The higher profit is attributable to higher wakalah fee income and …

  • Economy  |  MAY 25, 2015 6:29 PM

    FTAs lead to rising exports in Apac — study

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    A new Asia-Pacific Economic Cooperation (Apec) Policy Support Unit report confirms that regional free trade agreements (FTAs) in the Asia Pacific do make a difference in boosting exports. These preliminary findings were submitted to the Apec Trade Ministers in Boracay (the Philippines) over …

  • Commodities  |  MAY 25, 2015 6:22 PM

    Rubber market closes marginally higher

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    The Malaysian rubber market ended marginally higher today, lifted by buying support. A dealer said eased concerns over the supply condition had sparked positive sentiment into the market, thus boosted demand for the commodity. The Malaysian Rubber Board’s official physical price for …

  • Corporate  |  MAY 25, 2015 6:17 PM

    EPF i-Akaun usage increases over 100%

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    The usage of i-Akaun, an online facility to check Employees Provident Fund (EPF) savings, has increased to over 100% in the first quarter ended March 31. EPF said the number of members logging into the service surged 102.65% to 2.91 million from 1.43 …

  • Markets  |  MAY 25, 2015 6:09 PM

    Ringgit ends weaker against US dollar

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    The ringgit eased against the US dollar at close on Monday on softer demand for the local unit. At 5pm, the local unit contracted against the greenback to 3.6130/5160 from 3.5835/5865 on Friday. A dealer said investors turned their interest to the …

  • Corporate  |  MAY 25, 2015 6:05 PM

    Boustead unit completes SK309 Belum Topsides job

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    Boustead Penang Shipyard Sdn Bhd (BPS) has completed the load out and sail away of the offshore Belum Topsides (BE-SA) facilities for Murphy Sarawak Oil Co Ltd. BPS is a wholly-owned subsidiary of Boustead Heavy Industries Corporation Bhd (BHIC). The BE-SA facilities will …

  • Corporate  |  MAY 25, 2015 5:54 PM

    FGV unit inks deal to supply premier oil palm seeds

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    Felda Global Ventures Holdings Bhd’s (FGV) subsidiary Felda Agriculture Services Sdn Bhd (FASSB) has ventured into the Philippine market to supply its premier oil palm seeds to planters in Mindanao. FASSB signed a memorandum of collaboration with the Philippines’ Bali Oil Palm Produce …

  • Corporate  |  MAY 25, 2015 5:40 PM

    Public Packages sees tough 2015 on strong US dollar

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    Public Packages Holdings Bhd (PPHB) expects 2015 to be a challenging year as the buoyant US dollar continues to put pressure on the pricing of its products and cost sustainability. Executive chairman Koay Chiew Poh said despite this, packaging remains an important component …

  • Markets  |  MAY 25, 2015 5:36 PM

    KL shares close easier; CI down 20.12 pts

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    Shares on Bursa Malaysia ended lower today with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) 20.12 points easier, weighed down by losses in heavyweights. Meanwhile, Bursa Malaysia issued an unusual market activity query to IFCA MSC over the sharp drop in the …

  • Corporate  |  MAY 25, 2015 5:31 PM

    IFSA 2013 offers depositors account choices

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    Depositors may now opt for either investment or deposit accounts under the Islamic Financial Services Act (IFSA) 2013. Association of Islamic Banking Institutions Malaysia (Aibim) president Mohd Redza Shah Abdul said customers who opt for investment accounts, which allow them to invest in …

  • Corporate  |  MAY 25, 2015 5:14 PM

    UEM Edgenta gets RM4.72 bil deals since last year

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    Assets and facilities management provider UEM Edgenta Bhd, formerly known as Faber Group Bhd, has secured major local and overseas contracts worth over RM4.72 billion from last year and to date. Managing director and chief executive officer Azmir Merican said the local contracts …

  • Economy  |  MAY 25, 2015 5:06 PM

    Population growth rate set to drop post-2020

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    The population growth rate in the country is expected to reduce following the drop in total fertility rate from 2.1 to 1.91 children for the period 2020 to 2035. Women, Family and Community Development Minister Rohani Abdul Karim said the drop in fertility …

  • Corporate  |  MAY 25, 2015 4:47 PM

    Sunway appoints new CEO for Sunway I’ntl Hotels & Resorts

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    Sunway Group appoints Albert Cheong as the chief executive officer (CEO) of Sunway International Hotels & Resorts, effective May 18, 2015. In a statement, Sunway Group said that Cheong first joined Sunway’s hospitality division in January last year as group general manager …

  • Featured and Exclusive & Markets  |  MAY 25, 2015 4:28 PM

    KL shares head for 4-month low as Tenaga extends slump

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    Malaysia’s benchmark stock index heads for the lowest close since January as Tenaga Nasional Bhd tumbles and analysts downgrade Sime Darby Bhd after the nation’s largest listed plantation stock reported disappointing earnings. The FTSE Bursa Malaysia KLCI Index sank 1.2% …

  • Corporate  |  MAY 25, 2015 4:10 PM

    MMHE to expand into downstream, onshore sectors

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    Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) will be expanding into the downstream and onshore segments this year, given the more competitive environment in the global oil and gas industry amid the plunge in oil prices. Managing director and chief executive officer …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 4:04 PM

    Sack MAS’ top brass first, says flight attendants union

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    The 500 top salary earners in Malaysian Airlines should be trimmed ahead of plans to terminate thousands of lower ranking staff, said the National Union of Flight Attendants Malaysia (Nufam). In a press release today, Nufam said the top salary …

  • Markets  |  MAY 25, 2015 3:28 PM

    KL shares stay lower at mid-afternoon; CI down 19.89 pts

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    Shares on Bursa Malaysia resumed the afternoon session easier, with the the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) down 19.89 points at 1,767.61 at 3.05pm, weighed down by trade and services stocks. Among top losers were Tenaga, which fell 54 sen to …

  • Corporate  |  MAY 25, 2015 3:20 PM

    Grand-Flo eyes 50% revenue contribution from properties

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    Tracking solutions provider and property developer Grand-Flo Bhd is aiming to raise the revenue contribution from its property development segment to 50% this year from 20% in 2014. Group president and group managing director Derrick Tan said the company has two ongoing projects …

  • Economy & Singapore  |  MAY 25, 2015 3:02 PM

    S’pore CPI falls 0.5% mainly on decline in oil-related items

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    The Singapore consumer price index (CPI)-All Items inflation falls 0.5% in April as compared to 0.3% in March, mainly on account of a sharper price decline in oil-related items and a moderation in services inflation. A joint statement released by the Monetary …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 2:32 PM

    1MDB boss Arul Kanda, ex-CEO to skip PAC meet

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    1Malaysia Development Bhd (1MDB) president and executive director Arul Kanda will not attend the Public Accounts Committee (PAC) meeting tomorrow, PAC chief Nur Jazlan Mohamed confirms. Earlier, sources told Malaysiakini that Arul and former chief executive officer (CEO) Shahrol Halmi, who was …

  • Corporate  |  MAY 25, 2015 1:53 PM

    Barakah receives contract for pigging supply

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    Barakah Offshore Petroleum Bhd’s unit, PBJV Group Sdn Bhd, has received a letter of award (LOA) from Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd for the supply of operational pigs and pigging accessories, as well as related equipment and services. In …

  • Corporate  |  MAY 25, 2015 1:48 PM

    MMC optimistic on FY15 performance

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    MMC Corp Bhd, which doubled its net profit last year, is optimistic on maintaining its performance for the financial year ending Dec 31, 2015, driven by its three core businesses. Group managing director Che Khalib Mohamad Noh said the group’s performance last year …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 1:38 PM

    D-day approaches for 8,000 MAS staff

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    Up to 8,000 Malaysia Airlines (MAS) staff would be axed as the national airline company is set to terminate its entire workforce. 20,000 MAS staffer will either get termination or re-employment letters in the coming days, reports The Star today. Those re-employed …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 1:00 PM

    New MAS expected to focus on medium-range routes

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    The new Malaysia Airlines (MAS) is expected to become a very important transit hub airline for the region, cutting on long-haul flights to the west and focusing more on regional medium routes. Transport Minister Liow Tiong Lai said MAS would have strong advantage …

  • Commodities  |  MAY 25, 2015 12:59 PM

    KLTM ends US$20 lower at US$15,830 a tonne

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    The Kuala Lumpur Tin Market (KLTM) closed US$20 easier at US$15,830 a tonne today due to a technical correction, a dealer says. On the London Metal Exchange (LME), the tin price was unchanged at US$15,800 a tonne. The dealer said the price was …

  • Markets  |  MAY 25, 2015 12:53 PM

    KL shares lower at mid-day

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    Shares on Bursa Malaysia ended the morning session lower today, weighed down by selected heavyweights as general sentiment remained weak. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 17.53 points to 1,769.97, after moving between 1,769.75 and 1,787.64 …

  • World Biz  |  MAY 25, 2015 12:50 PM

    China invites investors to help build RM1.1 tril of projects

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    China’s state planning agency on Monday released a list of more than 1,000 proposed projects totalling 1.97 trillion yuan (RM1.15 trillion) that it is inviting private investors to help fund, build and operate. The National Development and Reform Commission (NDRC) said the 1,043 …