• Corporate  |  JULY 29, 2015 2:40 PM

    Cepatwawasan 2Q pre-tax profit falls 59%

    Story by

    Cepatwawasan Group Bhd’s pre-tax profit for the second quarter ended June 30, 2015 slipped 59% to RM4.67 million from RM11.44 million in the same quarter last year. Revenue dropped to RM53.98 million from RM68.3 million previously. In a filing to Bursa Malaysia, …

  • Markets  |  JULY 29, 2015 2:33 PM

    As China’s state funds buy stocks, retail investors sell

    Story by

    China’s efforts to rekindle investor enthusiasm for the stock market are gaining little traction as margin traders cash out and new equity account openings tumble. Speculators reduced bets using borrowed money to the lowest level in four months on Tuesday, …

  • Economy & Featured and Exclusive  |  JULY 29, 2015 2:23 PM

    Najib says M’sia will continue to grow sustainably

    Story by

    Malaysia will continue to grow sustainably, reduce fiscal deficit, and keep debt at a manageable level, says Prime Minister Najib Abdul Razak. “We have strong fundamentals,” Najib said via Twitter. Meanwhile, the Prime Minister’s Office (PMO) has expressed satisfaction with the Standard & Poor’s …

  • Corporate, Economy, Featured and Exclusive  |  JULY 29, 2015 2:00 PM

    Hawaii meeting likely to conclude TPP talks: Tok Pa

    Story by
    [email protected]

    International Trade and Industry Minister Mustapa Mohamed believes that the ongoing Trans Pacific Partnership ministerial meeting being held in Hawaii could substantially conclude negotiations over the controversial deal.

  • Commodities  |  JULY 29, 2015 1:42 PM

    KLTM ends US$650 higher at US$16,250 a tonne

    Story by

    The Kuala Lumpur Tin Market (KLTM) rose sharply today to close US$650 firmer at US$16,250 a tonne, in line with an uptrend in the metal price on the London Metal Exchange (LME), a dealer says. The tin price on LME perked US$450 …

  • Featured and Exclusive & Markets  |  JULY 29, 2015 1:28 PM

    China stock market rout sends yuan policy into disarray

    Story by

    China is in a currency quandary: How to promote the yuan in global trade while at the same time using it to stabilise market volatility? The People’s Bank of China (PBOC) is holding the onshore version of the yuan at …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 1:22 PM

    PAC to proceed with its 1MDB probe

    Story by

    The Public Accounts Committee (PAC) will proceed with its investigation into 1Malaysia Development Bhd (1MDB), its deputy chairman Dr Tan Seng Giaw says. As such, witnesses who have been summoned to testify are being notified to attend the hearings on …

  • Markets  |  JULY 29, 2015 1:02 PM

    KL shares almost flat at mid-day

    Story by

    Bursa Malaysia ended the morning session almost flat today on lack of local market drivers amid weakness in the external environment, dealers say. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.65 point to 1,699.05 after moving between 1,696.72 and 1,701.58 …

  • Economy & Featured and Exclusive  |  JULY 29, 2015 12:50 PM

    Currency forum mulled to avoid manipulation in TPPA

    Story by

    Pacific Rim trading partners are considering setting up a top-level forum to consider ways to avoid currency manipulation in parallel to an ambitious 12-nation trade deal, Australian Trade Minister Andrew Robb says. Robb said the US proposal would not seek …

  • Corporate  |  JULY 29, 2015 12:25 PM

    Pesona Metro most active stock in morning session

    Story by

    Pesona Metro Holdings Bhd's shares emerged as the most active in the morning session today following news that the company is acquiring hostel concessionaire Selasih Asli Sdn Bhd (SASB).

  • Corporate  |  JULY 29, 2015 11:58 AM

    AmFIRST REIT gets nod to increase approved fund size

    Story by

    AmFIRST Real Estate Investment Trust (AmFIRST REIT) has received the nod from its unitholders to increase its existing approved fund size to 823.68 million units from 686.40 million units.

  • World Biz  |  JULY 29, 2015 11:37 AM

    Chevron to lay off 1,500 workers amid oil price slump

    Story by

    Chevron Corp, the second-largest US oil company, said on Tuesday it would lay off 1,500 employees, about 2% of its global work force, as it trims costs to offset declining crude prices.

  • Featured and Exclusive & Opinion  |  JULY 29, 2015 11:30 AM

    Why economists have trouble with bubbles

    Story by

    One of the strongest orthodoxies in modern economics is being challenged, and there could be big implications for the state of the profession. The new, rebellious ideas might also help us understand why financial bubbles happen. Economists have realized for …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 11:05 AM

    Despatch rider in 1MDB probe released today

    Story by

    A despatch rider who was remanded for four days to facilitate investigations into 1Malaysia Development Bhd (1MDB) has been released by the Magistrate's Court.

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 10:23 AM

    Time magazine advises Obama to avoid Najib

    Story by

    US President Barack Obama should steer clear from the Malaysian Prime Minister Najib Abdul Razak, an article published by Time magazine yesterday suggests.

  • Markets  |  JULY 29, 2015 10:08 AM

    KL shares open higher

    Story by

    Shares on Bursa Malaysia traded sideways in early trade today on concerns over weak global sentiment and China’s economic growth amid softer commodity prices. At 9.19 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.52 of a point lower at 1,699.18 …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 10:02 AM

    Nur Jazlan slammed for putting off 1MDB hearing

    Story by

    Public Accounts Committee (PAC) chief Nur Jazlan Mohamed has come under heavy fire for postponing the hearing into 1Malaysia Development Bhd (1MDB) from August to October.

  • Finance & Markets  |  JULY 29, 2015 10:02 AM

    Ringgit opens slightly higher against US dollar

    Story by

    The ringgit was slightly higher against the US dollar in early trade today on mild demand for the local note as some investors remained cautious on the greenback. At 9.25 am, the ringgit was quoted at 3.8101/8130 against the US dollar from 3.8130/8150 …

  • World Biz  |  JULY 29, 2015 9:47 AM

    NZ: Dairy trade impasse holds up TPP

    Story by

    The United States, Canada and Japan have to make concessions on dairy trade before a wider Pacific trade deal can be wrapped up, New Zealand’s agricultural trade envoy said on Tuesday. Mike Petersen, a farmer who represents the interests of …

  • Markets & World Biz  |  JULY 29, 2015 9:30 AM

    Greek bourse to reopen Wednesday or Thursday

    Story by

    The Greek stock market will reopen on Wednesday or Thursday after a month-long shutdown but with restrictions on trading by local investors at the request of the European Central Bank (ECB), the Greek securities regulator chairman told Reuters on Tuesday. …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 9:30 AM

    Ikea Cheras to create 300 new jobs

    Story by

    Over 300 job opportunities are expected to be created by Ikea Malaysia following the opening of its new store in Cheras by end of this year. Retail Director of Ikea Malaysia, Singapore and Thailand, Mike King in a statement here today said …

  • World Biz  |  JULY 29, 2015 9:02 AM

    Twitter shares fall as growth of monthly users slows

    Story by

    Twitter Inc’s shares fell more than 11% in extended trade on Tuesday after the microblogging company said its number of monthly average users grew at the slowest pace since it went public in 2013. “This is unacceptable and we’re not …

  • Commodities  |  JULY 29, 2015 8:05 AM

    Gold edges higher as investors await Fed meeting

    Story by

    Gold firmed on Tuesday but remained near 5-1/2-year lows as markets braced for this week’s Federal Reserve meeting, at which policymakers are expected to give further clues on the timing of a US rate increase. The Fed suggested earlier this …

  • Enterprise & Issues  |  JULY 29, 2015 8:00 AM

    Growing an international presence

    Story by
    [email protected]

    Exabytes CEO and founder Chan Kee Siak had it relatively smooth going when he transitioned from being a college student to a full-time technopreneur. In this article, he tells KINIBIZ of the crazy thing he did in the beginning that inadvertently ended up killing most of his competition and how the company grew forward.

  • Finance & Markets  |  JULY 29, 2015 7:55 AM

    Dollar rebounds against euro, yen as focus turns to Fed

    Story by

    The US dollar rebounded against the euro and yen on Tuesday after traders took profits from gains in those currencies and favored the greenback on expectations that the Federal Reserve could take a hawkish bias in a policy statement on …

  • Commodities  |  JULY 29, 2015 7:44 AM

    Oil steadies after 4-day loss; US inventory draw eyed

    Story by

    Oil prices steadied on Tuesday, with Brent recovering from near six-month lows and US crude settling more than 1% higher as bets for a drop in US stockpiles offset concern over a global oil supply glut and China’s stock market …

  • StockStalk  |  JULY 29, 2015 7:30 AM

    Homeritz: Homely business, sexy dividends

    Story by
    [email protected]

    Upholstered furniture maker Homeritz Corp Bhd sees relatively little coverage from research houses but investors seem to have found plenty of positives, judging by a doubling of its share prices over the past year. Is it too late to join the party?

  • Featured and Exclusive & Markets  |  JULY 29, 2015 7:23 AM

    Wall Street ends sharply higher as China jitters ebb

    Story by

    US stocks ended sharply higher on Tuesday, breaking a five-day losing streak as attention shifted from trouble in Chinese equities to US corporate earnings and to speculation the first Federal Reserve interest rate hike may not come until December. The …

  • Property  |  JULY 29, 2015 1:21 AM

    Cameron vows to stop money launderers buying UK homes

    Story by

    Overseas criminals must not be allowed buy UK homes with “plundered or laundered cash,” Prime Minister David Cameron says. Cameron expressed concern on Tuesday that anonymous shell companies are being used to buy real estate in Britain. More than 12,500 …

  • Commodities & Featured and Exclusive  |  JULY 28, 2015 10:05 PM

    Oil enters bear on US supply, China demand risks

    Story by

    Oil declined amid surplus stockpiles in the US and concern about demand in China, the two biggest crude-consuming countries. Brent oil dropped as much as 2.2% on Tuesday after closing more than 20% below its May peak on Monday, meeting …

  • Featured and Exclusive & World Biz  |  JULY 28, 2015 9:42 PM

    VW overtakes Toyota as world’s biggest carmaker

    Story by

    Volkswagen (VW) overtakes Toyota as the world’s largest carmaker by sales in the first half year, achieving its long-held ambition three years ahead of target. But staying on top will be a challenge for the German maker of the Golf …

  • Corporate  |  JULY 28, 2015 9:03 PM

    Jiankun inks JV pact to develop land in Petaling

    Story by

    Jiankun International Bhd’s wholly-owned unit JKI Development Sdn Bhd and Fivestar Development (Puchong) Sdn Bhd are embarking on a joint-venture pact to develop a land in Petaling, Selangor. Jiankun International, in a filing to Bursa Malaysia today, said the land had been slated …

  • Economy  |  JULY 28, 2015 8:57 PM

    China idles solar power for 1st time amid grid congestion

    Story by

    China halted power flows from solar panels for the first time as congestion on its electricity grid prevented renewable energy from reaching customers. About 9% of the nation’s solar capacity sat idle in the first six months of the year, …

  • World Biz  |  JULY 28, 2015 8:52 PM

    Facebook ordered to allow pseudonyms

    Story by

    Facebook Inc was ordered by a German privacy watchdog to allow users to have accounts under pseudonyms on the social network. Facebook may not unilaterally change such accounts to the real names of users and may not block them, Johannes …

  • World Biz  |  JULY 28, 2015 8:47 PM

    Gucci owner calls for HK rent cuts as market wilts

    Story by

    Luxury companies including Kering SA are demanding lower Hong Kong store rents to reflect the island city’s waning appeal with wealthy Chinese shoppers. The owner of the Gucci brand may close some of its shops there if those costs don’t …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 8:15 PM

    IGP: Edge owner, publisher to be called up again

    Story by

    Media group The Edge chairman Tong Kooi Ong and its publisher Ho Kay Tat will be called up again by the federal police to facilitate investigations into articles on 1Malaysia Development Bhd (1MDB), which was published by The Edge Financial Daily. Inspector-general of …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 8:05 PM

    PM: New cabinet line-up will boost public confidence

    Story by

    Prime Minister Najib Abdul Razak is confident the new cabinet line-up will increase public confidence in the government and BN ahead of the 14th general election. “Insha’Allah (God willing), I believe that the new cabinet line-up will drive forward the …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 7:59 PM

    I’ll have to relinquish PAC post, says Nur Jazlan

    Story by

    Following his appointment as deputy home minister, Nur Jazlan Mohamed says he would have to relinquish his position as Public Accounts Committee (PAC) chief. He also revealed the committee’s hearings concerning 1Malaysia Development Bhd (1MDB) in August will have to …

  • Corporate  |  JULY 28, 2015 7:43 PM

    NGO asks MACC to probe 1BestariNet

    Story by

    The Pertubuhan Minda dan Sosial Prihatin submits a memorandum to the Malaysian Anti-Corruption Commission (MACC) seeking an investigation into the 1BestariNet project of the Education Ministry. Its economic advisor Suud Ridzuan handed over the memorandum to MACC integrity policy management officer Kamaruddin Ariffin.

  • Corporate  |  JULY 28, 2015 7:40 PM

    TAS’ FY15 pre-tax profit drops to RM12.93 mil

    Story by

    TAS Offshore Bhd’s pre-tax profit for the financial year ended May 31, 2015 (FY15) fell to RM12.93 million from RM34.3 million last year. Revenue, however, rose to RM275.87 million from RM254.27 million previously, the company said in a filing to Bursa Malaysia today. …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 7:31 PM

    MAHB: No compromise on safety at airports

    Story by

    Malaysia Airports Holdings Bhd (MAHB) is committed to ensure that operations at all its airports, including klia2 terminals, apron, and taxiways are safe. In a statement today, MAHB said the differential settlement at klia2’s apron and taxiways is only affecting 2.3% of …

  • Commodities  |  JULY 28, 2015 7:24 PM

    Rubber market ends lower

    Story by

    The Malaysian rubber market closed lower today following a weaker trend in crude oil prices and a firmer ringgit, dealers say. At 5pm, the local currency was quoted at 3.8130 against the US dollar from 3.8140 recorded on Monday. US benchmark West Texas …

  • Corporate  |  JULY 28, 2015 7:15 PM

    BAT posts lower 2Q pre-tax profit of RM286.88 mil

    Story by

    British American Tobacco (M) Bhd’s pre-tax profit for the second quarter ended June 30, 2015 slipped to RM286.88 million from RM330.41 million in the same quarter last year. Revenue declined to RM1.09 billion from RM1.23 billion previously. In a filing to Bursa …

  • Featured and Exclusive & Markets  |  JULY 28, 2015 7:08 PM

    KLCI drops 10 points to close at 1699

    Story by
    [email protected]

    The FBM KLCI fell 10 points to close the day’s trading in negative territory on the back of a cabinet reshuffle which saw the former deputy prime minister Muhyiddin Yassin being replaced by Ahmad Zahid Hamidi.

  • TigerTalk  |  JULY 28, 2015 7:00 PM

    Join ride-sharing, taxi drivers!

    Story by
    [email protected]

    With the advent of ride-sharing apps, as well as the turning of the tide (yet again) of Uber winning one of its lawsuits, Tiger ponders if it may be time for taxi drivers here in Malaysia to consider driving for ride-sharing apps.

  • Corporate  |  JULY 28, 2015 6:33 PM

    Globetronic’s 2Q PBT slightly lower at RM20.77 mil

    Story by

    Globetronics Technology Bhd’s pre-tax profit for the second quarter ended June 30, 2015 declined to RM20.77 million from RM20.78 million in the same period last year. Its revenue fell to RM89.03 million from RM90.62 million previously. In a fling to Bursa Malaysia …

  • Corporate  |  JULY 28, 2015 6:27 PM

    Fajarbaru unit accepts RM111 mil banking facilities

    Story by

    Fajarbaru Builder Group Bhd’s (FBG) 51%-owned indirect unit Fajarbaru-Beulah (Melbourne) Pty Ltd accepts banking facilities of A$39.94 million (RM111.04 million) from Maybank International Labuan branch. In a filing to Bursa Malaysia today, FBG said, as a security for the banking facilities, it …

  • Corporate  |  JULY 28, 2015 6:19 PM

    Country View’s 2Q pre-tax profit falls to RM4.29 mil

    Story by

    Country View Bhd’s pre-tax profit for the second quarter ended May 31, 2015 fell to RM4.29 million from RM29.39 million in the same quarter last year. Revenue declined to RM27.52 million from RM46.87 million previously. In a filing to Bursa Malaysia today, …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 6:12 PM

    AirAsia not moving to KKIA Terminal 1, says Aireen

    Story by

    AirAsia Bhd makes a firm decision to remain in Kota Kinabalu International Airport (KKIA) Terminal 2 and declines to move its operation to Terminal 1. Chief executive officer Aireen Omar said the reason why AirAsia had declined to move to Terminal 1 was because …

  • Corporate  |  JULY 28, 2015 6:04 PM

    ‘Automobile makers not ready for B10 biodiesel’

    Story by
    [email protected]

    Many automobile makers in Malaysia are not ready to support the B10 biodiesel blend (constituting 10% palm oil, 90% diesel) for their manufactured vehicles, according to Malaysian Automotive Association (MAA) president Aishah Ahmad. Asked on a consensus view regarding the …