• Corporate & Featured and Exclusive  |  JUNE 3, 2015 3:14 PM

    AirAsia welcomes MAS’ intention to collaborate

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    AirAsia Bhd is looking for possible areas to collaborate with Malaysia Airlines (MAS) in response to a statement by new chief executive officer (CEO) Christoph Mueller yesterday to seek collaboration with the low-cost carrier and other potential partners. AirAsia group chief executive …

  • World Biz  |  JUNE 3, 2015 3:06 PM

    Samsung to expand Samsung Pay to China, Europe

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    Tech giant Samsung Electronics Co Ltd said on Wednesday that it will expand its Samsung Pay mobile payments service to markets such as China and Europe after an initial launch in South Korea and the United States later this year.

  • Corporate & Featured and Exclusive  |  JUNE 3, 2015 2:59 PM

    New guidance to standardise Islamic finance practices

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    Malaysia’s central bank says it will finalise operating standards for all major Islamic finance contracts by the end of this year, creating the first comprehensive set of practical guidance for the industry. The set of 11 standards will complement existing Syariah guidelines …

  • Featured and Exclusive & Finance  |  JUNE 3, 2015 2:33 PM

    Greece says won’t pay IMF without prospect of a deal

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    Greece will not make a June 5 loan repayment to the International Monetary Fund (IMF) if there is no prospect of an aid-for-reforms deal with its international creditors soon, the spokesperson for the ruling Syriza party’s lawmakers says on Wednesday. …

  • World Biz  |  JUNE 3, 2015 2:27 PM

    Herbalife strikes back on pyramid scheme claims

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    Herbalife Ltd went on the attack against nemesis Bill Ackman on Monday, debuting a website that paints the billionaire hedge fund manager as an irresponsible opportunist. includes media reports about legal probes into his anti-Herbalife campaign as well as …

  • Corporate  |  JUNE 3, 2015 2:21 PM

    Mercedes-Benz M’sia records best ever sales in May

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    Mercedes-Benz Malaysia had another record month for passenger cars in May, registering 1,143 units, which was an improvement of more than 100% from the 544 sold during the same period last year.

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 2:10 PM

    Bank tied to Fifa scandal has drug cartel history

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    A small private bank controlled by a reclusive Brazilian billionaire shows up more than two dozen times in US prosecutors’ corruption charges against world football officials. It’s hardly the bank’s first brush with scandal. Delta National Bank & Trust Co …

  • Corporate  |  JUNE 3, 2015 1:33 PM

    NHF allocates over RM20 mil in capex for FY15

    Story by

    New Hoong Fatt Holdings Bhd (NHF), an automotive replacement parts manufacturer, allocates more than RM20 million in capital expenditure (capex) for the financial year 2015 and towards product design and development. Managing director Chin Jit Sin said the company is looking into growing revenue …

  • World Biz  |  JUNE 3, 2015 1:24 PM

    China to probe six Sinopec units in graft crackdown

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    China’s main anti-corruption watchdog will inspect six subsidiaries of state-owned energy giant Sinopec Group, the latest step in a continuing crackdown on the oil sector in the world’s number two economy. The ruling Communist Party’s watchdog plans to send teams …

  • Commodities  |  JUNE 3, 2015 1:14 PM

    KLTM ends US$30 lower at US$15,520 a tonne

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    The Kuala Lumpur Tin Market (KLTM) closed US$30 lower for US$15,520 a tonne today and despite the rise in the metal price on the London Metal Exchange (LME). The tin price on the LME rose by US$160 to US$15,535 a tonne. A dealer …

  • Markets  |  JUNE 3, 2015 1:04 PM

    KL shares higher at mid-day

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    Shares on Bursa Malaysia ended the morning session in positive territory today on consistent buying in selected heavyweight stocks, dealers say. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI), was up 5.62 points to 1,746.99, after moving between 1,743.12 and …

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 12:54 PM

    America’s unwanted Ivy League grads flocks to India

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    Kunal Bahl’s American dream was coming together in late 2007. He had Ivy League degrees in business and engineering, a debut job at Microsoft Corp and a roadmap to the career he’d always wanted in Silicon Valley. Then his application …

  • World Biz  |  JUNE 3, 2015 11:56 AM

    Boeing starts assembly of pioneer 737 MAX

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    Boeing employees in Renton, Washington have started building the pioneer 737 MAX airplane with the first component, the wings, to be assembled in the process.

  • Economy & World Biz  |  JUNE 3, 2015 11:53 AM

    What former US steel town Pittsburgh can teach China

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    When it comes to shuttering steel plants and transforming an economy, Pittsburgh can teach China how it’s done. That’s according to former Fed chairman Ben Bernanke. China is undergoing a painful transition from an economy fueled by exports and heavy industry to one …

  • Opinion  |  JUNE 3, 2015 11:36 AM

    Getting inequality wrong

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    On most contentious issues, our perceptions often diverge from reality. It has been shown, for example, that people in many countries are bad at guessing the prevalence of immigrants, Muslims and teenage pregnancies, as well as murder rates, unemployment and population aging.

  • Markets  |  JUNE 3, 2015 11:33 AM

    KL shares remain higher at mid-morning

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    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained higher mid-morning as buying emerged in selected heavyweights, a dealer said. As at 11 am, the FBM KLCI rose 5.41 points to 1,746.78, after opening 7.22 points better at 1,748.59. Market breadth remained …

  • Markets & Property  |  JUNE 3, 2015 11:14 AM

    Cheung Kong Property spin off debuts at HK$70

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    Cheung Kong Property Holdings Ltd opened at HK$70 on its first trading day in Hong Kong after being spun off from billionaire Li Ka-shing’s conglomerate.

  • Commodities  |  JUNE 3, 2015 10:57 AM

    Peru in dispute with Shell over LNG royalties

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    PeruPetro is in dispute with Anglo-Dutch oil firm Shell over royalties related to the export of seven Peruvian liquefied natural gas (LNG) cargoes last year, the regulator said, adding it hoped to reach a deal soon or would resort to …

  • Finance & Markets  |  JUNE 3, 2015 10:00 AM

    Ringgit rebounds to open higher against the US dollar

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    The ringgit rebounded against the US dollar, in early trade, due to mild demand for the local unit. At 9.30 am, the local unit traded at 3.6800/6830 from 3.6970/7000 at 5 pm on Tuesday. Against a basket of four major currencies, the …

  • Markets  |  JUNE 3, 2015 9:56 AM

    KL shares open higher

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    Share prices on Bursa Malaysia opened higher supported by continuing buying interest in most heavyweight stocks, dealers said. As at 9.20 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.45 points higher at 1,745.82, after opening 7.22 points better at 1,748.59. A …

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 9:45 AM

    App maker files EU antitrust complaint against Google

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    US tech firm Disconnect has filed a complaint to EU antitrust regulators against Google’s ban on its privacy app, accusing the Silicon Valley giant of abusing its dominant market position. Disconnect, set up four years ago by former Google engineers, …

  • Commodities & Featured and Exclusive  |  JUNE 3, 2015 9:20 AM

    US House energy chair supports lifting oil export ban

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    The Republican chairman of the House of Representatives’ energy panel on Tuesday said lifting the 40-year-old ban on US oil exports would benefit consumers and the country’s allies, a move that could boost support for legislation in the chamber. “Oil …

  • Economy & World Biz  |  JUNE 3, 2015 8:48 AM

    Greece’s creditors draft terms to unlock aid

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    Greece’s creditors on Tuesday drafted the broad lines of an agreement to put to the leftist government in Athens in a bid to conclude four months of acrimonious negotiations and release aid before the cash-strapped country runs out of money. …

  • Commodities  |  JUNE 3, 2015 8:20 AM

    Core Opec members in ‘consensus’ to keep oil ceiling

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    Core Gulf Opec members and others have a consensus to keep the organization’s oil production ceiling intact at its meeting this week, a senior Gulf Opec delegate told Reuters on Tuesday, reinforcing a view among a growing chorus of members. “There …

  • Issues  |  JUNE 3, 2015 8:00 AM

    How is money laundered?

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    [email protected]

    In this article, KINIBIZ looks at how illegitimate proceeds are laundered and the methods used by launderers to game the system. Note, however, that this is NOT an instruction manual on money laundering, nor does KINIBIZ encourage this activity.

  • Corporate & World Biz  |  JUNE 3, 2015 8:00 AM

    Environmentalists sue over Shell plan to drill in Arctic

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    Several environmental groups sued the United States on Tuesday to derail Royal Dutch Shell Plc’s plan to drill in the Arctic Ocean as soon as July. The Bureau of Ocean Energy Management, an agency within the US Department of the …

  • Commodities  |  JUNE 3, 2015 7:37 AM

    Gold higher as dollar softens, eyes on Greek deal

    Story by

    Gold edged higher on Tuesday in response to losses in the dollar after disappointing US data and also as uncertainty persisted over whether a high-level meeting on Greece’s debt crisis might lead to a significant breakthrough. Spot gold rose 0.4% …

  • Finance & Markets  |  JUNE 3, 2015 7:32 AM

    Dollar plunges broadly on optimism for Greek deal

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    The US dollar was on track to post its biggest one-day percentage decline against a basket of major currencies in nearly two years on Tuesday on expectations that Greece would reach a deal with its creditors. Greece’s creditors are close …

  • StockStalk  |  JUNE 3, 2015 7:30 AM

    MBM Resources: Rolling on heavy-duty tyres

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    [email protected]

    The auto sector is seeing some rough times and MBM Resources had an underwhelming first quarter of 2015, going by core results. However, fundamentals remain intact and the company may be the car to drive, if you want in on this troubled sector.

  • Markets  |  JUNE 3, 2015 7:27 AM

    Wall Street ends down; utilities fall as bond yields jump

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    US stocks eased on Tuesday as a jump in bond yields hit utilities and other top dividend payers, but energy gains and optimism Greece is near a deal with creditors limited losses. The S&P utility index fell 1.4%, leading losses …

  • Commodities  |  JUNE 3, 2015 7:20 AM

    Oil prices up, driven by a weak dollar

    Story by

    Oil prices rose on Tuesday, driven by a weak dollar and expectations that US crude supplies could have fallen last week for a fifth straight week. But the American Petroleum Institute (API) estimated an inventory build instead, in a report …

  • Corporate  |  JUNE 2, 2015 10:55 PM

    DBKL plans bicycle lanes underneath MRT tracks

    Story by

    The Kuala Lumpur City Hall (DBKL) is proposing to turn land underneath the mass rapid transit (MRT) tracks into bicycle lanes to encourage more city folks to use bicycles as an alternative mode of transport. KL mayor Ahmad Phesal Talib said the proposal is …

  • Corporate  |  JUNE 2, 2015 10:39 PM

    Scanwolf suspends directors, probes possible irregularities

    Story by

    Plastic extrusion manufacturer Scanwolf Corp Bhd forms an investigating committee and suspends its director and financial controller pending full investigation into discrepancies over preliminary findings of “possible irregularities” in the company’s affairs. In its filing to Bursa, Scanwolf announced that it has suspended its director and …

  • Corporate  |  JUNE 2, 2015 10:33 PM

    MAS says MH194 landed safely despite deflated tyre

    Story by

    Malaysia Airlines’ (MAS) flight MH194 on May 31, 2015, from Kuala Lumpur to Mumbai made a safe landing at Mumbai airport with one deflated tyre. “During the landing roll, debris from the deflated tyre had damaged two other wheels,” MAS said in a …

  • Economy & Singapore  |  JUNE 2, 2015 9:13 PM

    S’pore May PMI expands, hits six-month high

    Story by

    Singapore’s manufacturing activity expanded for the first time in six months in May, helped by a pick-up in new orders and production, although the electronics sector contracted for the second straight month, a survey shows on Tuesday. The Singapore Institute …

  • Corporate  |  JUNE 2, 2015 8:53 PM

    HK firm in talks to acquire all Cocoaland businesses

    Story by

    Cocoaland Holdings Bhd agrees to enter into discussions with Hong Kong-based First Pacific Co Ltd, which has offered to acquire the former’s businesses for RM463.32 million. In a filing to Bursa Malaysia, Cocoaland said First Pacific has offered to acquire all the businesses and …

  • World Biz  |  JUNE 2, 2015 8:45 PM

    Nestle US to drop artificial flavours, cut salt

    Story by

    Nestle USA says on Tuesday it will remove artificial flavours and reduce salt by 10% in its frozen pizza and snack products by the end of this year. The move will include more than 250 products sold under the Digiorno, Tombstone, …

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 8:32 PM

    Khazanah: NewCo to remain full-service int’l carrier

    Story by

    “The network will also have an expanded reach into Africa, the US, and Europe via potential partnerships that are being explored,” Khazanah says in a statement today.

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 7:49 PM

    Bursa rejects Biosis regularisation plan

    Story by

    Bursa Malaysia Securities Bhd has rejected Biosis Group Bhd’s proposed regularisation plan, and this will result in the suspension of trading in the company’s shares effective June 10, 2015. In a filing to Bursa Malaysia today, Biosis said the company will also …

  • Corporate  |  JUNE 2, 2015 7:37 PM

    M’sian Shipping Master Plan draft ready by year-end

    Story by

    The Malaysian Shipping Master Plan draft, which seeks to identify issues and make recommendations on the criticality of the shipping industry, will be ready by year-end, Transport Minister Liow Tiong Lai says. He said the master plan will elaborate and recommend appropriate …

  • Corporate  |  JUNE 2, 2015 7:30 PM

    Jetstar Asia to shift to klia2 from July 8

    Story by

    All Jetstar Asia flights arriving and departing from the Kuala Lumpur International Airport (KLIA) in Malaysia will be shifted to the klia2 terminal from July 8, 2015. klia2 is located less than 2km away from the KLIA Main Terminal and is accessible from KL …

  • Corporate  |  JUNE 2, 2015 7:04 PM

    Kulim plans mixed development in Pengerang

    Story by

    Kulim (Malaysia) Bhd plans to develop mixed property projects on two of its oil palm plantation land in Pengerang, Kota Tinggi. Chairman Kamaruzzaman Abu Kassim said the oil palm plantations at Ladang Sungai Papan, Tanjung Belungkor and Ladang Siang, Desaru span 8,000 hectares …

  • Commodities & World Biz  |  JUNE 2, 2015 6:57 PM

    Big oil’s plan to become big gas

    Story by

    Oil companies that have pumped trillions of barrels of crude from the ground are now saying the future is in their other main product: natural gas, a fuel they’re promoting as the logical successor to coal. With almost 200 nations …

  • Economy & Featured and Exclusive  |  JUNE 2, 2015 6:39 PM

    MOF to meet Fitch on M’sia’s economy sustainability

    Story by

    The Finance Ministry is expected to meet representatives of Fitch Ratings Agency later today to convince them that Malaysia’s economy is still sustainable and should be viewed positively, says Treasury secretary-general Mohd Irwan Serigar Abdullah. He said the agency, which currently rates Malaysia …

  • Featured and Exclusive & Finance  |  JUNE 2, 2015 6:28 PM

    Greece tells lenders to accept ‘realistic’ plan sent

    Story by

    Greece has sent creditors a “comprehensive” and “realistic” package of reforms for consideration and is calling on Europe’s leaders to accept it so a long-awaited deal can be struck, Prime Minister Alexis Tsipras says on Tuesday. Tsipras said the proposal was …

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 6:21 PM

    RAM calls ‘stable’ outlook on banking sector

    Story by

    RAM Ratings assigns a stable outlook on the Malaysian banking sector, which it says reflects its robust capitalisation levels and sturdy loan quality. Financial institution ratings co-head Sophia Lee said the stable outlook also recognises Bank Negara Malaysia’s track record of effective banking regulation and …

  • Commodities  |  JUNE 2, 2015 6:13 PM

    Rubber market ends higher

    Story by

    Natural rubber prices on the Kuala Lumpur rubber market closed firmer today on the back of a weaker ringgit, dealers say. A dealer said buying momentum extended from last week as the ringgit continued to weaken against the US dollar following declining …

  • Markets  |  JUNE 2, 2015 5:40 PM

    Ringgit ends lower against US dollar

    Story by

    The ringgit was down at today’s close due to lack of demand, dealers say. At 5pm, the local unit was lower at 3.6970/7000 from 3.6820/6850 on Monday. Forex Time chief market analyst Jameel Ahmad said there is a correlation in the currency …

  • Markets  |  JUNE 2, 2015 5:34 PM

    KL shares turn lower at close on last-minute selling

    Story by

    Share prices on Bursa Malaysia closed mixed as last-minute selling in selected heavyweights limited gains, dealers say. Meanwhile, in a filing to Bursa Malaysia today, The Nomad Group announced that its shares will be suspended from 9am on June 18, 2015. The company …

  • World Biz  |  JUNE 2, 2015 5:17 PM

    Lenovo replaces head of smartphone division

    Story by

    Lenovo Group Ltd has replaced the head of its smartphone unit, a critical business division that has seen its China sales tumble as Apple Inc and other high-end phone makers win over customers with sleeker product offerings.