• Corporate  |  AUGUST 23, 2014 11:27 PM

    Maybank Investment picks six sectors in 2H2014

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    Maybank Investment Bank Bhd has picked laggards, value investing, construction, oil and gas (O&G), Sarawak development corridor, and Syariah-based as the sectors investors should look out for in the second half of 2014. Research and Equity Market Manager Cathrine Joy Yu said continuous …

  • Corporate  |  AUGUST 23, 2014 11:16 PM

    CIMB, RHB and MBSB to transform finance industry

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    The proposed merger between CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd is set to transform the finance industry as it will create a mega Islamic bank, outgoing CIMB Group CEO Nazir Razak said. He said the Islamic finance …

  • Markets  |  AUGUST 23, 2014 11:02 PM

    Bursa to remain firm, regain upward momentum

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    Bursa Malaysia is expected to remain firm and trend higher and gradually retest the 1,896.23 level as traders increased their bets on solid USA economy, Federal Reserve’s dovish testimony, reduced geopolitical tension, and a steady recovery of the world economy. Affin Investment Bank …

  • Featured and Exclusive  |  AUGUST 23, 2014 11:04 AM

    A nation in mourning

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    Yesterday, the nation mourned. Twenty of our fallen countrymen finally came home, a long 37 days after they boarded the ill-fated Flight MH17. On Sunday, three more would arrive. Welcome home, dear departed. It had been a long journey for the …

  • Finance  |  AUGUST 23, 2014 10:13 AM

    Ringgit to trade between 3.15 and 3.20 against USD

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    The ringgit is likely to trade between 3.15 and 3.20 against the US dollar next week, driven by external environment. Hong Leong Bank Senior Manager for Bond and Economic Research Choong Yin Pheng said the market will be US dollar-driven due to …

  • Commodities  |  AUGUST 23, 2014 10:03 AM

    US crude falls down for fifth week on ample supply

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    US crude oil futures fell on Friday for a fifth straight week of declines while Brent remained under pressure from a stronger dollar and plentiful supplies despite an escalation of tensions between Russian and Ukraine. Ukraine declared on Friday that Russia had launched a ”direct invasion” of …

  • World Biz  |  AUGUST 23, 2014 9:44 AM

    Goldman Sachs agrees to settlement worth US1.2bil

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    Goldman Sachs Group Inc has agreed to a settlement worth US$1.2 billion to resolve a U.S. regulator’s  claims the bank sold Fannie Mae and Freddie Mac faulty mortgage bonds, the regulator announced Friday. Under the settlement with the Federal Housing Finance Agency, the conservator for …

  • Markets  |  AUGUST 23, 2014 9:21 AM

    Dollar rise lifts greenback index to 2014 high

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    Wall Street and other stock markets paused on Friday, halting the week’s strong gains, as worsening Ukraine tensions dogged trading, while the dollar rose after Federal Reserve Chair Janet Yellen said policymakers eyeing interest rate hikes need to move cautiously. Ukraine on Friday said …

  • World Biz  |  AUGUST 22, 2014 9:36 PM

    Vodafone agrees to buy stake in Hellas Online

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    Vodafone Group Plc has agreed to buy 72.7% of Greek broadband company Hellas Online SA for 72.7 million euros (US$96.5 million) and plans to make an offer for the rest of the company. Vodafone already owned 18.5% of the Athens-based …

  • World Biz  |  AUGUST 22, 2014 9:22 PM

    Exxon to sell UK North Sea Gas asset, XTO Netherlands

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    Exxon Mobil Corp. is seeking buyers for its stake in an offshore UK natural gas field and its XTO Netherlands unit that includes an interest in a Dutch pipeline. Exxon is offering for sale 100 percent of XTO Netherlands Ltd. …

  • Corporate  |  AUGUST 22, 2014 9:13 PM

    IJM expects Indonesian operations to double yields

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    IJM Plantations Bhd, a 54%-owned subsidiary of IJM Corp Bhd, expects its Indonesian operations to double ITS fresh fruit bunches (FFB) production in the 2015 financial year to 288,000 tonnes, driven by better yields. Its Chief Executive Officer and Managing …

  • World Biz  |  AUGUST 22, 2014 8:55 PM

    China’s car-maker to build production facility in Russia

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    China’s Lifan car manufacturer will invest US$150 million (RM475 million) to build a production facility in central Russia’s Kaluga region, Russia’s Itar-Tass news agency reported citing the Beijing Qingnian Bao newspaper report on Friday. “The company will manufacture several dozen …

  • Corporate  |  AUGUST 22, 2014 8:49 PM

    Tan Chong Motor’s pre-tax profit declines in 2Q

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    Tan Chong Motor Holdings Bhd’s pre-tax profit for the second quarter ended June 31, 2014 declined to RM81.356 million from RM91.809 million in the corresponding period last year. In a filing to Bursa Malaysia, the company said its revenue also …

  • Corporate  |  AUGUST 22, 2014 8:31 PM

    Daya materials to undertake fund-raising exercises

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    Daya Materials Bhd will undertake three fund-raising exercises to part-finance its acquisitions of two offshore subsea construction vessels worth RM444.1 million each. In a filing to Bursa Malaysia today, Daya Materials said it would also pay an additional RM7.3 million …

  • Corporate  |  AUGUST 22, 2014 8:15 PM

    MRCB’s pre-tax profit soars to RM138.76 mil in 2Q

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    Malaysian Resources Corporation Bhd’s (MRCB) pre-tax profit soared to RM138.76 million for the second quarter ended June 30, 2014 from RM13.11 million recorded in the same period last year. Revenue also increased to RM325.69 million for the quarter under review …

  • Corporate  |  AUGUST 22, 2014 7:41 PM

    Malayan Flour posts RM18.86 mil pre-tax profit in 2Q

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    Malayan Flour Mills Bhd’s pre-tax profit rose to RM18.863 million for the second quarter (Q2) ended June 30, 2014 from RM13.558 million in the corresponding period last year. In a filing to Bursa Malaysia today, the company attributed the higher …

  • Corporate  |  AUGUST 22, 2014 7:37 PM

    Dayang Ent’s 1H14 pre-tax profit rises to RM110.36 mil

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    Dayang Enterprise Holdings Bhd’s pre-tax profit for the first half of 2014 (1H14) ended June 30 rose to RM110.36 million from RM107.45 million in the corresponding period last year. Revenue jumped 100 per cent to RM399 million during the period …

  • Corporate  |  AUGUST 22, 2014 7:28 PM

    Despite 4Q revenue dip qoq, Karex back in black

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    Homegrown condom manufacturer Karex Bhd is now back in the black as it saw higher profits despite a dip in revenue for the fourth quarter ended June 30, 2014 compared to the immediate preceding quarter, citing longer production time due …

  • Commodities  |  AUGUST 22, 2014 7:26 PM

    CPO futures prices remain lower on continuous selling

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    Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives remained lower on continuous selling, a dealer said. Phillip Futures Sdn Bhd derivative product specialist, David Ng, said the CPO price plunged to its lowest in five years over mounting …

  • Markets  |  AUGUST 22, 2014 7:22 PM

    KL shares ease on profit-taking

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    Bursa Malaysia closed on easier note today on profit-taking for the second consecutive day, bogged down by losses in selected heavyweights, dealers said. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended the day 0.20%, or 3.82 points, lower to …